The decentralized finance (DeFi) space continues to be at the forefront of adoption and innovation in the entire blockchain, and crypto space.
Dot.Finance, a recently launched, Polkadot-based DeFi platform is out to further accelerate the growth of not just Polkadot but the entire DeFi space.
In an official tweet, Dot.Finance revealed detail of the amazing APYs accessible to its users. The platform participants can now enjoy 100% APY on Stablecoins, 135% APY on Dot.Finance LINK pool, and 200 APY on its DOT pool.
— Dot.Finance (@dot_finance) August 10, 2021
More on Dot.Finance
The DeFi space is to a large extent still nascent, however, increasing interest in decentralized finance has led to an exponential increase in DeFi projects. These unprecedented increases in DeFi projects have placed a strain on the Ethereum blockchain. Hence, the need for other blockchains like Binance Smart Chain (BSC), Polkadot, etc.
For now, Dot.Finance supports tokens on the DOT ecosystem. These tokens also currently operate on the Binance Smart Chain (BSC).
Built on Polkdot, Dot.Finance is a specially designed DeFi platform focused on facilitating the growth of the Polkadot ecosystem. To achieve this, the DeFi platform will provide access to top-notch, high-performance, DeFi tools. These tools are built on Polkadot’s secure, reliable and sustainable ecosystem. Interestingly, these tools will furthermore help to increase global awareness and the subsequent adoption of not just the Polkadot ecosystem but the entire DeFi space.
Polkadot is a popular blockchain protocol specially designed to improve interoperability between specialized blockchains. Multiple isolated blockchains result in poor scalability, porous security, and subpar user experience. Polkadot solves these issues by connecting specialized blockchains and transforming them into a single network.
Polkadot is also known as an open-source, multichain, sharding protocol. The blockchain protocol has grown exponentially over the years with many touting it as the perfect replacement for Ethereum (Ethereum Killer). It is currently one of the top-10 crypto assets available today by market cap.
At the time of publication, DOT was trading at $21.31 with a market cap of $21,756,900,220, and a 24-hour trading volume of $1,520,397,357. The token price is also down 1.7% over the last 24 hours.
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