Currently, the main fields of application for decentralized finance are:
- Decentralized stablecoins with each coin pegged to a fiat currency and secured with a pledge in cryptocurrency.
- Loans and credit, where one group of users deposit funds into the credit pool at interest, and the other can borrow the assets they need on the security of other assets.
- Exchanges built on liquidity pools, removing the need for an order book.
- Market prediction protocols.
- Lotteries, insurance protocols, etc…
Using DeFi technology allows us to make any process transparent, effective and reliable! At Credefi we believe that in the next few years we will see how every financial service that exists in the current fiat system will be adapted to work within the cryptocurrency ecosystem.