On HarmonyONE DeFi

in #harmony4 months ago (edited)

Decentralization is essential for a stronger economic structure. The pluralistic structure of governance facilitates economic development and ensures that resources distributed more evenly and fairly. The shortest way to accomplish this today is through transactions with smart contracts built on blockchain technology. The integration of digital currencies into the economic structure will reduce costs and accelerate economic development. Recently we have heard a lot of news about DeFi economics. So what is DeFi? DeFi briefly refers to a decentralized financial ecosystem. It is the exercise of the rights of digital asset owners to their assets. Harmony supports this situation as a mission.

He went further and developed Cross Fi. Cross Fi is a decentralized structure. Each individual who has Internet access is religious, allowing him to access financial networks and make transactions without being asked about his nationality. There is no need to trust anyone to establish operations because of the framework required by Smart Contracts provided. Financial services with low-cost transaction fees. Supported by Plug and play type tools, it enables the development of the business ecosystem. Any central structure cannot reverse the operations performed.
It has partnered with Waves Financial, wealth management, and boutique consulting firm, to further the growth of the digital asset and ecosystem.

Some popular DeFi services are;
Lending: Lending at less cost than traditional financial structures is one of the possible transactions in Defi.
Derivatives/assets: allow trading on derivative assets without having an actual asset. Decentralized exchanges: individuals can evaluate their funds in decentralized exchanges. Without a central authority or intermediary, and with little risk of censorship from users peer-to-peer.
As a result, multiple scalability solutions introduced to the market will provide more gas-intensive use situations. The lending market in the world is quite large. This size reaches billions of dollars. Financial solutions for this market have always been very important.

(created by ipek)

Harmony ONE ID: simonx