Decentralized finance (DeFi) is an umbrella term for various apps that cut the middleman out of financial services, such as lending, borrowing, trading, and earning interest. DeFi continued to gain traction last year with increased adoption, more applications, and more money invested.
In some ways, DeFi cuts across the whole cryptocurrency industry. After all, Bitcoin (BTC), the first-ever crypto, was designed as a decentralized form of payment. But there are some DeFi specific tokens that are worth keeping an eye on.
As we enter 2022, all eyes are looking to see what’s next in crypto. with Bitcoin now regularly trading around $60,000 and Ether at north of $4,000, some investors may be scouting for less established cryptocurrencies that may offer bigger returns.
Latest Positive Industry News
Bank of America released a report concluding that central bank digital currencies are the “inevitable evolution of today’s electronic currencies” and that a digital dollar could help maintain the American dollar as the world’s reserve currency. The report guesstimates that a U.S. CBDC will be issued “between 2025 and 2030.”
Binance has received in-principle approval from the Central Bank of Bahrain to operate a cryptocurrency service provider in the country. The license is part of Binance’s “plans to become a fully-regulated centralized cryptocurrency exchange,” the crypto exchange detailed.
Bancolombia, Colombia’s largest bank, will be offering cryptocurrency trading to customers in a pilot program within a regulatory framework established by the country’s financial regulator, the Superintendencia Financiera de Colombia (SFC). Customers of the Colombian bank will be able to trade bitcoin, ether, litecoin, and bitcoin cash.
A Look at a Few DeFi Tokens
What The Cannabis Industry Has Been Missing! It Creates a Chance for Huge Profits from Combining Cannabis, Crypto, NFTs & Metaverse!
REEFER Token (REEFER) is Setting a New Industry Standard on how Legal Dispensaries, Smoke Shops, Vape Shops, Cannabis Lounges, Restaurants and Gamers Interact. Cannabis, Crypto, NFTs & Metaverse Combined to Birth the REEFER Ecosystem Revolution!
- The platform helps Dispensaries, Smoke Shops, Vape Shops, Cannabis Lounges and Restaurants to accept easy form of payments. Customers will go through our digital Point Of Sale System and Inventory Control through Automated Inventory Management.
- Decentralized finance, or DeFi, uses emerging technology to remove third parties in financial transactions. You hold your money in a secure digital wallet instead of keeping it in a bank or cash and Transfer Funds in Seconds while Protecting Your Identity!
- Customers get Rewarded for Loyalty & Referring others with a Loyalty Rewards and Incentive Program by receiving discounts & Free Products. This will result in Shops Increased Customer Retention and Strengthening Customer Affinity.
SMART CONTRACT ADDRESS: 0x701b57da9eff1d3f1ce4e90171f602ff16fc05a4
Shiba Inu (SHIB) is a meme token which began as a fun currency and has now transformed into a decentralized ecosystem. During the initial launch, 50% of the supply was allocated into Vitalik Buterin’s ethereum wallet. The price of SHIB has soared from as low as $0.000000000056 to an all time high of $0.0000379, that is a 140,000 times increase within 8 months. As a result of that, Vitalik proceeded to donate 10% of his SHIB holdings to a COVID-19 relief effort in India and the remaining 40% is burnt forever. That donation was worth about $1 billion at that time, which makes it one of the largest donation ever in the world.
Kiba Inu (KIBA) is a community driven ERC20 token that is on a mission to continue to grow to be known worldwide. The Journey starts today, will you change your life forever? KIBA is inspired by Kiba Inuzuka, one of the main supporting characters of the Naruto anime/manga series. He always has his trusted canine companion, Akamaru, by his side. Kiba Inuzuka is loyal to his comrades and will do anything to protect them. This is the energy the KIBA token aims to embody – a strong, supportive community that wants to grow together.
Floki Inu (FLOKI) is a dog-themed meme coin, calling itself not a meme coin but “a movement.” It’s a cryptocurrency birthed by fans and members of the Shiba Inu (SHIB) community. The coin is named after Elon Musk’s Shiba Inu.
Musk is a prominent fan of Dogecoin, although he publicly denied owning any SHIB. Floki Inu is working on “three flagship utility projects:”
- An NFT gaming metaverse called Valhalla
- An NFT and merchandise marketplace called FlokiPlaces
- A content and education platform called Floki Inuversity
The community calls itself the “Floki Vikings” in honor of Floki (Musk’s dog) that was named after a Viking character. Floki Inu vows to take its community efforts seriously and has been listed several times in the Top 10 of LunarCrush’s social engagement leaderboards. Floki Inu has also partnered with CryptoCart, giving its holders the option to purchase items at over 1,700 stores through a partnership with CryptoCart (CC). It is also working on a similar partnership with Curate (XCUR) that would allow Floki tokens to be used as a payment method on the Curate physical goods marketplace.