on the crypto
The year 2021 is coming to an end as we have entered the last quarter of the year. Despite some bumps, the world of blockchain and cryptocurrencies has had an upward trajectory, especially the decentralized finance (DeFi) sector. Generally, DeFi also includes games and NFT, which has seen the decentralized financialization of digital services, products and art grow to become a mainstream phenomenon.
The DeFi industry first took off in 2020 and captured the attention of millions of new users looking for traditional and innovative financial services in a decentralized environment. Currently, nearly $ 100 billion is locked in various protocols offering services such as lending, staking and more.
With the launch of new protocols and platforms at breakneck speed, we've compiled a list of three pre-vetted and promising projects to watch in the fourth quarter.
1.EQIFI
EQIFI is unique in that it is a DeFi project powered by a regulated bank and fully licensed in EQIBank, and it is this uniqueness that really sets it apart. Led by CEO Brad Yasar and President Jason Blick, the EQIFI team provides extensive experience and is focused on bringing the democratization of global banking to the fore.
Using blockchain technology, the project created advanced infrastructure to borrow and invest in Ethereum, ERC-20 tokens and select fiat currencies. Since the EQIFI project is powered by EQIBank, it allows the ability to access products such as multi-currency bank accounts and credit cards.
Considering that it took the team only ten days to reach the funding goals set for the initial phase and other strategic rounds, it is safe to say that EQIFI is a project worth keeping an eye on!
2. Scallops
Scallop is a complete solution for cryptocurrencies and banking services. The innovative fintech ecosystem allows users to securely store fiat and crypto assets under one roof.
Scallop offers users regulated and insured “DeFi powered” GBP and IBAN bank accounts, as well as a digital and bank-grade hardware wallet for digital assets. It has a suite of ten products, including cards, accounts, foreign exchange, and an NFT marketplace, to name a few.
Scallop is tiptoeing against traditional banking with digital firepower and could most likely change the way we bank.
3. WagyuSwap
WagyuSwap is renowned for being one of the fastest trading platforms on the market, having been built on the Velas network, which is the fastest blockchain in the industry. It will also benefit from VelasPad, the official launchpad of the Velas network.
This is also in addition to the plethora of projects that will be made available to WagyuSwap both through Velas and through the Solana ecosystem. So far, there has been a proven demand for WagyuSwap's offerings as its dual IDOs on BSCpad and ETHpad sold out within hours, bringing the quotation of $ WAG at 75 times its initial public sale price.
In addition to the traditional token exchange options, WagyuSwap also offers a lottery, wagering and a good APY.
Conclusion
DeFi has shown that it is not just a fad or phase, but a legitimate offshoot of the blockchain that is here to stay for the long term. At the end of 2021, these DeFi projects are showing great potential to not only deliver innovative goods and services, but to completely change the scope of what DeFi can do.
