The following are several examples of DEFI technology that has developed so rapidly :
Decentralized Exchange (DEXES)
Decentralized exchange (DEXES) is an application that facilitates transactions of exchanging one token for another using smart contract technology. One example of DEXES is what Cryptopreneur Blockchain Labs has developed, namely Cryptopreneur Finance which was built using Binance SmartChain Technology.
Through Cryptopreneur Finance, you can carry out all activities that are generally the same as those that can be found on other well-known Dexes platforms such as PancakeSwap, Uniswap, etc.
Decentralized Wallet (DEFI DApps WALLET)
A decentralized wallet, or better known as DeFi wallet or non-custodial wallet, is an application that allows you to access digital assets that you obtain from a decentralized exchange (DEX). They are not owned or managed by a head office or third party intermediary, so they give you complete control over your funds and private keys.
Decentralized wallets are available in many different forms, the most popular of which are mobile applications that can be installed on a smartphone or tablet. This application is also available for desktop and via several websites as an extension or plugin. No matter how you use them, the most popular wallets offer the same key features, including:
- View the balance and value of your cryptocurrency
- Send and receive digital assets, including cryptocurrencies and NFTs
- Connect with decentralized applications (DApps)
- Save your public and private keys
Most decentralized wallet applications available today, including Metamask and Trust Wallet — two of the most well-known — are secured by what is called a recovery or seed phrase. Both are sets of numbers that must be entered in the correct order to gain access. Without this phrase, you lose access to your wallet and will likely never be able to recover it again
Currently Cryptopreneur Blockchain Labs is currently researching and designing its own Defi Wallet development which when launched will carry the name Cryptopreneur Wallet where this Wallet will later become a Utility for CRF Tokens.
This Cryptopreneur Wallet is planned to be released no later than the second quarter of 2024
Decentralized Lending and Borrowing Crypto Asset (DEFI Lending & Borrow)
One of the DeFi categories that is currently widely used is Crypto Asset Lending and Borrowing Platforms.
DEFI lending and borrowing based on Blockchain Smart Contract Technology has a unique way of working due to its decentralized nature. You can deposit crypto assets to earn interest, and also borrow other crypto assets.
To use DEFI Crypto Asset Lending and Borrowing, you only need a Defi Wallet and a certain amount of funds in the form of tokens according to the protocol used.
With Defi Crypto Asset Lending, anyone can borrow and borrow assets without banks or other financial institutions.
Currently Cryptopreneur Blockchain Labs in collaboration with Plax Blockchain Labs is researching and designing the development of Defi Lending and Borrowing based on dual protocols, BNB SmartChain and Polygon Network which are being developed in stages.
This Defi project launched will carry the name Dogrowth Project where Defi Lending and Borrowing is planned to be released no later than the first quarter of 2024
Many other Defi categories can be found at www.defillama.com