Decentralized finance, also known as DeFi, is a fast-growing sector of the cryptocurrency industry. While cryptocurrency coins create a decentralized store of value separate from any government-backed fiat currency, DeFi creates decentralized financial instruments separate from traditional centralized institutions.
Although still small when compared to the global economy, DeFi has seen rapid growth in 2020. In early 2019, there was only $275M of crypto collateral locked in the DeFi economy. By February 2020, that number had grown to $1B, and it has continued to grow impressively throughout the year, hitting $2.5B in early July, $3B by mid July, and $4B on 25 July.
This growth shows that there is significant interest in DeFi from within the crypto community, but it’s still a small enough sector that many outside the industry may not have heard of DeFi yet.
DeFi Daily originally started as Seems Legit back in 2018. With no real direction upon creation, the community grew outside of its originally intended purpose quickly. Due to the extreme amount of time that was required for upkeep, the project was ultimatley abandoned. Fast forward through a global pandemic and 2020 in general, and insert DeFi Daily.
DeFi Daily is a project founded by three individuals to bring together like-minded individuals with a passion for technology and cryptocurrencies. We believe that decentralized economies based on finite, deflationary resources are vital for society going forward. Ironically enough, Defi Daily aims to be a a “centralized place to talk about everything decentralized.”
Yo, we have no idea what we’re doing. This site was made on WordPress; that has to tell you something. Additionally, we’re not legally liable if you take anything we create as investment advice because one of us was actually legally insane at the time of page creation. Just sayin’. Make good decisions unlike us. We’re investing thousands into digital pancakes. 2020’s been rough.
Edit: Oh yeah, we’re not officially representing any of these projects. We wish we were though. Some copyright or trademark shit should probably go here. Just check out their page, dawg.