2021 has been a period of great innovation in the blockchain space, with the development and launch of a huge range of novel platforms and protocols that have helped to reshape the industry in new and unexpected ways.
The decentralized finance (DeFi) sector of the industry has seen arguably the most progress in this time, with the launch of a dazzling array of new platforms that help users do more with their money and avoid the need to rely on centralized financial infrastructure.
Here, we take a look at the three new platforms leading the charge when it comes to unraveling the full potential of cryptocurrencies.
YeFi
Yield farming. It’s all the rage in 2021 and has become one of the most popular use cases for many cryptocurrencies today. Indeed, there are now billions of dollars worth of digital assets locked up in yield farm platforms — many of which generate a solid return for investors.
But while many yield farms are challenging to interact with, and only support relatively obscure digital assets or liquidity provider (LP) tokens, YeFi has recently come along to change the game.
YeFi is a platform that makes it easy for users to generate a passive income on their digital assets by staking them on its decentralized application (DApp). The platform currently supports a wide variety of assets, including ETH, BNB, BTC, and USDT. But users can boost their rewards by 1.5x by staking decentralized file storage coins like FIL, or up to 2x by staking YeFi’s native asset — YEFI.
https://twitter.com/yefi_platform/status/1424352826814205958
By allowing users to stake native assets rather than LP tokens, YeFi ensures users avoid the risk of impermanent losses — hence providing a reliable source of yield.
The platform is unusual among yield farms in that it is cross-chain compatible with both YottaChain and Binance Smart Chain, with plans to support additional chains in the future. Beyond this, YeFi is set to roll out a variety of DeFi products in the coming months — including a decentralized lending/borrowing platform and a full decentralized exchange.
Once complete, YeFi could become one of the first blockchain-agostic DeFi ecosystems.
Popcorn
You’ve probably seen the headlines — major cryptocurrency networks like Ethereum and Bitcoin consume huge amounts of electricity. In total, the mining activity of these two networks alone is equivalent to the entire energy consumption of a small country.
But despite this, the potential for blockchain technology to disrupt dozens of industries and change the way we go about our daily lives is a compelling reason to continue experimenting with the technology.
If only there were a way to offset the negative consequences of digital assets, while still retaining all of their benefits?
Well… now there is. It’s called Popcorn, and it’s an automated yield generation protocol that allows users to put their idle funds to work through a series of automated yield-bearing systems. But more than this, it’s also a force for social good. The platform uses a chunk of its fees to fund organizations working to improve the world we live in — whether that be through renewable energy research, forest conservation efforts, or public awareness organizations.
https://twitter.com/Popcorn_DAO/status/1428360682815123471
While using the platform, Popcorn will automatically direct user funds to the most profitable investment and trading opportunities using a variety of carefully designed investment models. Meanwhile, the platform mitigates the carbon impact of its operations by partnering with carbon sequestration and offsetting organizations.
Earn money while helping to save the world? We’re in.
Premia
In the last year, decentralized trading platforms like Uniswap and PancakeSwap have skyrocketed in popularity, by providing CEX-like speeds and features and breaking down accessibility barriers.
But until only recently, such derivatives trading platforms didn’t quite reach the same degree of usability and popularity. That is, until Premia came along.
Premia is a decentralized options minting and trading protocol that arguably exceeds the capabilities of even the most popular centralized options exchanges. The platform’s primary feature is an intuitive decentralized trading platform that allows users to trade options for a variety of digital assets — including Chainlink (LINK), Wrapped ETH (WETH), and Wrapped Bitcoin (WBTC).
Missed last week’s community call?
Get up to speed on the latest happenings with Premia as we move closer and closer to Premia v2 on main net 💎💪https://t.co/0IqYL8SRXK
— Premia Blue 💎 🦉 | DeFi Options (@PremiaFinance) August 20, 2021
But where Premia really stands out, is through its options underwriting feature, which allows users to underwrite a range of options to earn a yield on their investment. This is a completely permissionless process that allows anybody, from anywhere to generate a passive income without worrying about regional restrictions.
With Premia helping users speculate on various DeFi assets, hedge their risks, earn a yield on their assets and protect against market volatility, it stands out as an extraordinarily capable platform for budding and expert traders alike.