Although the decentralized finance (DeFi) market peaked at nearly $24.5 billion last year, DeFi technologies have yet to hit mainstream adoption. Many still prefer traditional finance.
However, Co-creators of Earnity Domenic Carosa and Dan Schatt wish to show the world that new investors who avoid DeFi often don’t understand its basic principles yet—much less its potential. As such, DeFi integration might speed up once more people learn about its advantages, such as:
First and foremost, the primary purpose of DeFi is it decentralizes mobile platforms. Users have total control over their money since no universal organization or financial institution monitors DeFi transactions.
Providing All-Access Mobile Wallets
DeFi enables mobile wallets to function independently. They no longer have to follow the exorbitant fees on various mobile payment systems and cryptocurrency platforms. You can incorporate this technology into different media, from digital wallets to play-to-earn games.
Reducing Crypto Volatility
Cryptocurrencies have a very volatile market. If you don’t have risk tolerance for extremely high-risk investments, try stable coins. DeFi minimizes volatility by tying stable coins to fiat currencies.
For instance, the USDT is a reputable, stable coin with blockchain technologies backed by the U.S. dollar. As such, its market value wouldn’t suddenly spike or drop,
Enabling Zero-Collateral Flash Loans
Flash loans are an underrated benefit of DeFi. Through decentralized technology, users can apply, process, and take out DeFi-backed loans in a matter of minutes.
Overall, DeFi technology enables users to gain total control over their money. By eliminating the institutions and agents involved with traditional transactions, you’ll enjoy better returns and capital growth on your finds.
Admittedly, DeFi can’t replace traditional finance yet. However, Co-creators of Earnity Dan Schatt and Domenic Carosa want to make crypto easy and accessible. Mass education on DeFi will serve as the key to mainstream adoption. After all, it’s only natural to fear something you don’t understand.