Decentralized Finance (DeFi) is a sector within the cryptocurrency industry that has recently gained mainstream attention for several reasons. DeFi provides valuable solutions to existing problems in the financial industry, such as inaccessibility, lack of transparency, third-party interference, and much more. Ultimately, the goal of DeFi is to replace traditional financial systems on a global scale.
DeFi coins, which are the native cryptocurrencies of DeFi platforms, are also making significant strides in the cryptocurrency industry. DeFi coins have grown to possess adequate levels of relevance in the industry, with coins like Chainlink (LINK), Uniswap (UNI), Frax (FRAX), and Aave (AAVE) among the industry’s most prominent cryptos.
A new member of the DeFi family is presently making waves in the industry. HypaSwap (HYPA), the Ethereum (ETH) based DeFi platform promises exciting features and benefits to impact the DeFi sector significantly. So great is the platform’s potential that crypto analysts have predicted it could surpass even cryptocurrency industry leaders such as Polkadot (DOT).
With the bear market in full swing, HYPA, the native cryptocurrency of HypaSwap, could provide investors with a much-needed long-term cryptocurrency investment choice. This piece examines the platform in-depth and compares it to cryptocurrency industry leaders like Polkadot (DOT).
Polkadot (DOT) – The Multichain Protocol
Polkadot (DOT) is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitates the cross-chain transfer of any data or asset types, not just tokens, and allows blockchain networks to be interoperable with each other. Polkadot functions as a foundation to support a decentralized web controlled by the users and to simplify the creation of decentralized applications (dApps) and services.
Polkadot (DOT) can connect public and private chains, permissionless networks, oracles, and future technologies and allow these independent blockchains to share information and transactions through its Relay Chain, one of its major components. Polkadot cannot operate without its native cryptocurrency, DOT, which serves various purposes such as staking for operations and security, facilitating network governance, and bonding tokens to connect parachains.
DOT is a top 20 cryptocurrency by market cap, with a live market cap of $6,257,930,664 and a circulating supply of 987,579,315 DOT coins. Polkadot is extremely popular within the cryptocurrency industry and is traded on several top crypto platforms, such as Binance, Huobi Global, OKEx, Coinbase, KuCoin, and more.
HypaSwap (HYPA) – Upcoming DeFi Platform That Could Take Over
HypaSwap (HYPA) is an upcoming DeFi platform causing much excitement within the cryptocurrency industry. This is because of the services, benefits, and incentives the platform will provide, such as token swapping, staking, liquidity pool acquisition, and much more.
Running on the Ethereum (ETH) blockchain network, HypaSwap (HYPA) promises to deliver an ideal experience for users. As a decentralized, non-custodial liquidity protocol, HypaSwap (HYPA) will enable borrowers and lenders to exchange assets by liquidity pools. Additionally, lenders stand to gain interest rates over their locked assets with HypaSwap (HYPA).
With HypaSwap’s robust system, users can rest easy knowing that they can make transactions without the risk of losing capital to fraud or default loans. The platform seeks to establish a strong market position and bring Decentralized Finance (DeFi) to every corner of the world. Furthermore, the platform will ensure low gas fees to allow investors and crypto newbies with little investment capital to easily borrow assets and ensure there are adequate returns with ease.
HYPA, that platform’s native cryptocurrency, is essential to its operation and facilitates several activities on the platform, including interest rates, staking incentives, penalties, and more. Users can earn HYPA from the platform or purchase it from crypto exchanges within the industry.
HypaSwap (HYPA) is advancing nicely along its roadmap and is about to reach the presale stage. More details on the project and token will be made available in time. Watch this space to stay informed and in the know.