With the explosion of decentralized finance projects as of lately like Raydium and 1inch we figured we'd quickly break down the benefits of DeFi.

DeFi or decentralized finance is the confluence of blockchain and traditional finance.

What makes DeFi services like Uniswap, PancakeSwap, and PlasmaPay different is they were built using open-source software and uncensorable networks.

The Benefits of DeFi include...

• Insanely High APY: The average interest rate on cryptocurrencies for DeFi protocols is 6-8% and some with absurd rates of 60-90%. This is primarily due to competition, consumer demand and technological innovation which all skyrocket these numbers.
• Access To New Cryptocurrencies: Freshly baked altcoins are solely released on decentralized exchanges (DEXs) like Uniswap. DeFi gives you access to the newest blockchain-based tech on a consistent basis.
• Token Drops: Because these decentralized protocols have their own tokens, the community can vote for token drops or games like no-loss lotteries where one lucky winner takes home a huge crypto reward.

Some DeFi Projects to Check Out

There are plenty of DeFi projects you need to look for.

Here are some:

• 1inch: Named after the legendary Bruce Lee punch, 1inch is a decentralized crypto exchange aggregator that connects several exchanges into one platform. 1inch eliminates this possibility of price swings with the power of smart contracts. These contracts automagically complete your transaction through the cheapest exchange or split your order into smaller ones to reduce fees.
• Raydium: Raydium is another big mover in 2021. RAY 5xed in price from its June lows of $3. Radium allows users to earn absurd interest on their crypto upwards of 50%+ on their Solana, Ethereum and RAY holdings. If you're a crypto nerd then you can think of this automated market maker (AMM) as the YearnFinance of Solana. You can swap SOL for RAY through the Phantom Wallet. 
• Energi: Energi does everything Ethereum and Solana do but in many ways slightly better. For instance, you can swap to any crypto token through Energi's EnergiSwap. So, you can swap from Ethereum to Cardano or Cardano to Solana, or even Binance Coin to Polkadot. This is unheard of and makes NRG a highly underrated project.

Have fun looking deeper into our recommendations and hope you start reaping the benefits of DeFi!

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