Introduction
Decentralized Finance (DeFi) is the fastest growing trend in crypto. Considered a revolutionary movement rather than a single service, DeFi is beginning to establish itself as a legitimate global financial tool.
The term Decentralized Finance refers to financial applications that exist on the blockchain. Traditional financial services, such as banking and commerce, all rely on a centralized body acting as an intermediary for all operations. DeFi aims to become a completely decentralized alternative to these services.
Just a few years ago, blockchain technology was used only for asset transfers and exchanges. It had no significant impact on the greater financial world. Now, thanks to DeFi, blockchain technology is beginning to transform almost all aspects of finance. Lending, trading, asset management, and more is now possible on the blockchain and the popularity of DeFi applications is on the rise.
Between mid-2019 and the end of 2020 the total value locked in DeFi applications rose by 3,000 percent from USD 500 mln to USD 15 bln! It is possible to see real-time valuations and track the growth of all DeFi applications through sites such as Defipulse.
Decentralized Finance (DeFi) – how it started
The journey began in 2014 with the advent of Ethereum. Its proposition was to create a smart contract platform allowing people to build any type of application on the blockchain. This gave rise to a multitude of new possibilities and DeFi was one of them.
As soon as the Ethereum blockchain went live in 2015, people began building applications on top of it, known as Decentralized Apps (DApps). The advantage of creating a DApp is that once it is implemented onto the blockchain, it inherits all its features – for example, being open source, difficult to manipulate and having no central control.
DApps can be implemented for everyday use in the same way as any digital app. Initially, popular use-cases for DApps were games, art, music and voting platforms. But after some time, people began looking at other financial applications and started creating DApps for lending, trading, brokerage, insurance and asset management. These applications were dawn of what we now call DeFi.
Ethereum remains the blockchain of choice for most DeFi apps. Competing chains, like EOS and Solana, have also developed DeFi projects within their ecosystems and may provide viable alternatives in the future. Some of the most popular use-cases for DeFi applications currently operating within the Ethereum ecosystem are decentralized exchanges, money markets, yield farming and price oracles.
About ETNA.Network
ETNA Network is a one-stop shop for all things DeFi, NFTs and gaming. User-centered technologies that will revolutionize the crypto space and aid in the adoption.
ETNA’s DeFi product combines a hybrid banking network, the first to support the use of NFTs as collateral and a hybrid liquidity protocol with enhanced user experience facilitated by our novel broker-buyer type trading feature.
ETNA’s NFT Factory is an all-in-one marketplace and factory, it is the first NFT marketplace that facilitates spot trading of supported assets. The factory allows creators to easily mint digital assets and showcase them to collectors.
ETNA’s gaming ecosystem is developed to bridge the gap between decentralized gaming applications and conventional ones. With our tech, developers of conventional games are able to deploy such games on the blockchain easily.
ETNA Features
ETNA is an ecosystem for DeFi, NFTs, and gaming, which makes it easy for users to borrow/loan crypto assets, trade game assets and NFTs, or other things from one platform safely and easily. Launched on the Binance Smart Chain platform, ETNA will provide users with a fast, efficient, secure, and lower-cost platform. Following are the features of ETNA:
- DeBank: Lending/borrowing platform that allows users to get loans with NFTs as collateral. And for ETNA holders, they will get the opportunity to borrow without interest.
- Hybrid Marketplace: A platform that makes it easy for users to trade multiple crypto assets without the need to have multiple crypto wallets. This platform is a combination of the conventional liquidity DEX protocol and a Broker-Buyer type trading mechanism.
- NFT Marketplace: On this platform, digital art creators and collectors can gather together. Users can trade their game assets or NFT tokens on the marketplace provided by ETNA.
- Gaming Ecosystem: The gaming Ecosystem allows seamless integration of conventional games on the blockchain and game asset digitization mechanisms. Here users can access tournaments, live global gaming events, or compete with other users virtually.
ETNA Token
ETNA is a native token that will serve as a utility token. Since it is a utility token, it means that users can use the ETNA token for various things such as fees or payments on the platform. The advantage of having ETNA tokens is that by having ETNA tokens users can get the opportunity to borrow without interest and users can stake their ETNA tokens to get passive income. ETNA was launched on the Binance BEP-20 platform with a total supply of 100,000,000 ETNA and can be purchased on PancakeSwap.
ETNA.Network Team
Official ETNA.Network resources:
Website: https://www.etna.network/
Whitepaper: https://www.etna.network/assets/ETNA.pdf
Twitter: https://twitter.com/EtnaNetwork
Telegram group: https://t.me/EtnaNetwork
Telegram channel: https://t.me/EtnaChannel
Discord: https://discord.com/invite/dbuEXdm
Youtube: https://www.youtube.com/channel/UCgkP_qjdYSZ8iesrz5kK0YQ
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