Decentralized finance (DeFi) took the world of crypto by storm in 2020. And, though the hype had cooled down somewhat by the end of last year, we are still seeing signs of its growing popularity now, well into 2021.
DeFi is all about utilizing Blockchain solutions to provide conventional financial services. This is done via smart contracts, without government or corporate control, and without the need for intermediaries, which significantly shorten the time it takes to conduct operations.
This field is now subjected to great interest because the option of having blockchain-based alternatives to conventional banks or brokerages is gaining in value and popularity. The idea here is that DeFi, with a proper governance approach, can make Payments more transparent, democratizing access to global finance for everyone.
The value of DeFi is continuing to skyrocket - recent statistics show that in February 2021 the total value locked in DeFi projects eclipsed $40 billion. For the sake of comparison, at the beginning of 2019, this figure was around $40 million. The difference speaks for itself.
That said, it is not as if the DeFi field holds no risks. High levels of volatility in this market make the impermanent loss a fairly common occurrence - when the price of a DeFi token goes down compared to its original value. Many projects have gone through this last year.
Another danger comes from hackers, who have increasingly targeted this field in 2020. And, in 2021 the most recent examples would be Yearn.Finance in February ($11 million lost) and DODO in March ($3.8 million lost).
Scams are an important thing to look out for. The open nature of DeFi has led to a great number of pump-and-dump schemes, fake giveaways, exit scams, etc. According to blockchain analytics company CipherTrace, exit scams, in particular, made up 99% of crypto fraud schemes in the second half of 2020, allowing criminals to get away with about $1.9 billion in stolen funds.
But even with all that said, people keep on believing in DeFi and the growth continues. We have observed that high-value clients, corporates and institutions are getting particularly interested in this sector as they want to invest major sums. The presence of such demand is integrated DeFi support, giving clients access to more financial tools of choice.
To sum up, it can only be said that DeFi could offer investors a very rewarding experience, but this can only happen if they approach decision-making with prudence.
Konstantin Anissimov is an Executive Director of CEX.IO
Decentralized finance (DeFi) took the world of crypto by storm in 2020. And, though the hype had cooled down somewhat by the end of last year, we are still seeing signs of its growing popularity now, well into 2021.
DeFi is all about utilizing Blockchain solutions to provide conventional financial services. This is done via smart contracts, without government or corporate control, and without the need for intermediaries, which significantly shorten the time it takes to conduct operations.
This field is now subjected to great interest because the option of having blockchain-based alternatives to conventional banks or brokerages is gaining in value and popularity. The idea here is that DeFi, with a proper governance approach, can make Payments more transparent, democratizing access to global finance for everyone.
The value of DeFi is continuing to skyrocket - recent statistics show that in February 2021 the total value locked in DeFi projects eclipsed $40 billion. For the sake of comparison, at the beginning of 2019, this figure was around $40 million. The difference speaks for itself.
That said, it is not as if the DeFi field holds no risks. High levels of volatility in this market make the impermanent loss a fairly common occurrence - when the price of a DeFi token goes down compared to its original value. Many projects have gone through this last year.
Another danger comes from hackers, who have increasingly targeted this field in 2020. And, in 2021 the most recent examples would be Yearn.Finance in February ($11 million lost) and DODO in March ($3.8 million lost).
Scams are an important thing to look out for. The open nature of DeFi has led to a great number of pump-and-dump schemes, fake giveaways, exit scams, etc. According to blockchain analytics company CipherTrace, exit scams, in particular, made up 99% of crypto fraud schemes in the second half of 2020, allowing criminals to get away with about $1.9 billion in stolen funds.
But even with all that said, people keep on believing in DeFi and the growth continues. We have observed that high-value clients, corporates and institutions are getting particularly interested in this sector as they want to invest major sums. The presence of such demand is integrated DeFi support, giving clients access to more financial tools of choice.
To sum up, it can only be said that DeFi could offer investors a very rewarding experience, but this can only happen if they approach decision-making with prudence.
Konstantin Anissimov is an Executive Director of CEX.IO
Federal Prosecutors Charge Samurai Wallet Founders with Money Laundering
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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