The DeFi Cryptocurrency space has been growing at a fast rate during 2020 with the likes of Chainlink, Yearn Finance, Dai & Compound hitting the market and seeing high gains.
De-centralized finance is essentially cutting out the middle man an experimental form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks, and instead utilizes smart contracts on blockchains, the most common being Ethereum. With Bitcoin reaching close to all time highs in the recent weeks there is expected to be a rush of capital into this sector of the Cryptocurrency market.
Platforms such as Anyswap & Uniswap have made the process easy to understand along with proving that the logic behind de-centralized finance is warranted.
A system similar to staking has been introduced for early adopters of PURP to accumulate further tokens during the period leading up to the listing date. Purple DeFi CEO will lock away 20% of the tokens for a 10 year period ensuring comfortable market stability for token holders. Furthermore 50% of the ETH & BTC deposited will be used to provide liquidity should any early adopters of the token decide to swap their tokens to liquid coins. For more information about this DeFi project please use the live chat on PurpleDeFi.com You will also find links to Telegram and Social Media accounts on their website.
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