DeFi is a huge and growing industry. It's had two major setbacks in the last 2 months due to bad actors rug pulling and the market taking a 50% dip with countless FUD to back it up. However it looks like we are starting to exit that fear stage and go back into hope as news coming out has been more positive about the crypto markets.
This along with other factors such as lower fees are starting to turn DeFi around again into a positive light. More trusted DeFi platforms such as CUB and Pancake are taking front stage and soon will be a new edition called Polygon.
I wrote a bit about Polygon here
In short Polygon is a newer type of block chain that runs on validators over a fully decentralized system. It's back by the likes of Mark Cuban who's building dapps such as NFTs and yes even DeFi into their platforms.
The marketcap of Polygon sits a respectable 15th place a 10.6 billion dollars. A sizable market cap for a crypto that doesn't yet have many use cases and dapps built on it. Polygon as far as I can tell does have 38 DeFi platforms it's currently on putting it at roughly 15% of the DeFi projects on Ethereum but nearly tied with Binance Smart Chain. It also recently started getting NFT platforms launch those of their own. It's going to take some serious work though for Ploygon to really take off as it's going to need the Hype and news worth content that Ethereum gets in order to start really spring into action now that it has some dApps in place.
pLEO Another Wrapped Token
LEO currently is connected with Ethereum and Binance smart chain in the world of DeFi. It allows LEO token earned on the blogging platform here to be wrapped and traded/used on Ethereum and Binance. The thing with Polygon is it's simply a layer two of Ethereum making it a rather easy system to connect into and start using. The ability to swap between Ethereum, Binance and soon Polygon on Cub itself will lead to some interesting things.
Above is a screenshot of the twitter posts from LeoFinance and the mention of pLEO. You can follow them here > https://twitter.com/FinanceLeo
Posted Using LeoFinance Beta