Defi has been introduced in the market to enhance the existing financial services. Several issues that are being faced by the finance industry such as slow speed, less transparency, security, and others have been modified after the adoption of the Defi. Blockchain technology has enabled many procedures to be featured with robust security and high-level transparency. The trust of the users has increased with better transparency and security. Moreover, the use of smart contracts has brought automation to the processes that accelerate the processing of the
traditional methods.
The decentralized platforms are not controlled by a central authority or a third party. The users of such platforms get better control over their data or funds and can independently use the platform without concerning a middleman in the process.
To exemplify, when a person needs to buy or sell a token or the crypto coin on the Decentralized platform, there will not be any order books used for the process, instead, smart contracts will enable the trader with a suitable trading deal by automatically connecting buyer and seller.
An example of a popular exchange platform:
There are various similarities among different types of exchange platforms. However, most of them are admired for having one or the other exceptional feature. Uniswap has the special feature of offering a pricing mechanism known as constant product MMM (Market Maker Model).
There is no restriction on adding an exclusive token to the exchange. To add a token, you have to fund the token with an equivalent value of the ETH or ERC20 token.
Another amazing feature of Uniswap is that any ERC20 token is eligible to be listed on the exchange. All the tokens have their smart contracts and liquidity pools. Liquidity pools can be developed simply even if the token is not equipped with it. After the token gets the exchange, it is ready to be traded.
Decentralized platforms are encountering huge acceptance in today’s world. The undeniable growth of cryptocurrency is contributing more to promoting Defi services in the market. You can get your Defi platform launched in the market using the Zeligz web store’s unbeatable services. They have already worked on the development of several platforms such as
decentralized exchange like Uniswap, successfully. You can certainly, get your requirements fulfilled with the help of their experts in the industry.
Topic: What significance does Defi have in today’s world? (Read 103 times)