6 Innovative DeFi Projects to Watch in 2022 Photo: Pixabay Blockchain-based DeFi products have certainly made the news in 2021, with new innovations, and solutions that have answered problems that we didn’t even know we had. That explains why they are increasingly being adopted by consumers and businesses at such a rapid pace.
Decentralized finance is giving traditional banking a run for its money, quite literally, which is why this year, institutional banks and private investors have flooded the market with funding. dApps and protocols help us to do the things we have historically used our banks for, but now the blockchain has removed the middle man from the picture and is opening up opportunities unparalleled in the centralized marketplace, from banking, to saving, to acquiring or issuing loans, trading derivatives, earning sizable returns via staking and/or liquidity mining, and for minting NFTs or digital collectibles. Explosive growth in DeFi in 2021
After the brief worldwide market crash following the COVID-19 outbreak, the DeFi market has grown exponentially and recently surpassed the $100 billion mark of Total Value Locked into the various projects and protocols, according to DeFi Pulse data . It has become clear that crypto and DeFi are not only here to stay, but they are set to grow even faster from here onwards. That’s because the Internet and Web 3.0 (the blockchain’s answer to the internet) have allowed consumers and businesses to communicate and share ideas and updates instantly.
For the modern world that has prioritized financial inclusion, which includes serving the unbanked or financially underserved, DeFi has become a critical service. Financial services should no longer be considered a luxury or something that only the rich should have. Every global citizen should be able to participate in the digital economy and that is part of what the DeFi movement aims to offer. In addition to providing much-needed financial services, DeFi platforms have adopted the best of the blockchain to provide services and products that are anonymous yet transparent and highly secure.
Let’s look at some of the most notable DeFi projects as we head into 2022. Revuto – DeFi Platform for Subscriptions
Revuto is an innovative platform that manages subscriptions for its users. For instance, if you have ever signed up for a free trial for a service, only to be asked for your credit card details (annoying), and then once your free trial ends forgotten to cancel the subscription, then this might just be a godsend. Additionally, users can manage all of their subscriptions on the one screen, and with one click they can Block, Pause or Approve subscriptions. Believe it or not, there is no other service on the market offering a product like this, and Revuto takes it one step further by doing it all on the blockchain. That could explain the explosion of users this project has enjoyed, with currently over 200,000 users since launch, and why it was voted the fastest-growing consumer product in the crypto-space during the World Blockchain Summit (WBS) in Dubai.
Revuto carried out its token sale via Cardano and acquired $10 million in funding. While the Ethereum ecosystem continues to dominate the DeFi space, Cardano has also emerged as a major platform for building decentralized applications (dApps). Safle – Blockchain Identity Wallet for DeFi Investors
Another project to watch in 2022 is Safle , which is a decentralized blockchain identity wallet implemented by Safle Network and Mainchain Research & Consulting. It has been designed to support secure private key management as well as offering an intuitive experience for dApps, DeFi platforms and non-fungible tokens (NFTs).
As a retail user trading or buying tokens across different chains, it can be hard to manage all of your private keys, and without those, you simply lose your funds. That’s why an identity tool which helps you keep all of your assets safe and secured across multi chains seems like such a great idea. No more seed phrases and no more keys across multiple exchanges and wallets.
According to the project’s developers, purchasing, selling, transferring and storing crypto-assets should be an easy and intuitive process, just like using a social media platform or checking your email. The Safle project’s goal is to provide frictionless experiences for end-users and application developers who are interested in accessing and creating solutions on decentralized infrastructures. Infinity – Community-Owned NFT Marketplace
Infinity is a NFT marketplace that is governed and guided by its community, by way of a distributed autonomous organization (DAO). It aims to support programmable NFTs and is a […]
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