The rise of decentralised finance (DeFi) in the cryptocurrency space – CryptoMode

The rise of decentralised finance (DeFi) instead of the traditional financial structure that has always ruled finance is giving leeway and freedom to users globally.

Long gone are the days when people were forced to rely on the likes of banks and brokerages, and welcome to the current days, where cryptocurrency and blockchain are emerging as real alternatives where people can borrow or lend from others and purchase and sell cryptocurrencies.

The likes of Uniswap (UNI), and PancakeSwap (CAKE) are just some of the leading decentralised exchanges in the crypto space. Today well look at the future of DeFi and the subsequent launches FIREPIN Token (FRPN) have on the horizon.

DeFi is the future of crypto

Many in the crypto space believe decentralised finance is a viable substitution for the likes of traditional banks and financial institutions.

One key reason DeFi continues to garner attention is its transparency.

As all transactions are recorded on the blockchain, every step of the transaction is available to witness.

As well as its transparency, there are no barriers when wanting to get involved in the DeFi industry. Anybody, regardless of race, creed or social class can buy or sell cryptocurrency, giving an equal opportunity to everybody.

The industry has gone from strength to strength over the last three years and as of February 2022, the value of the assets that have been used in decentralised finance amounts to a total of $200 billion.

Another key reason why DeFi is becoming a more popular choice for people to navigate their financial future is due to its platforms possessing the lowest marginal costs among both traditional banks and non-banks, according to a 2022 IMF report.

Whenever something innovative comes along in society, existing corporations look and learn and attempt to adapt to their current audience, and thats exactly what traditional financial institutions have done with the rise of decentralised finance.

Banks may look to improve their cross-border transactions as DeFi allows 24/7 trades compared to the slow process of traditional banks.

FIREPIN Tokens (FRPN) subsequent launches

Speaking of DeFi, FIREPIN Token (FRPN) is a decentralised protocol based on the FRPN token and one that launches in just over two weeks on May 27th.

As the launch nears for FRPN, multiple milestones remain for the project to complete, including the launch of the token on both PancakeSwap (CAKE) and Uniswap (UNI), two of the leading decentralised crypto exchanges within the space.

Uniswap and PancakeSwap rank as the first and third biggest decentralised exchange tokens, according to data from CoinMarketCap.

As a community-driven DAO, FIREPIN pays great attention to its community which will be able to vote and participate in proposals regarding the future of the project. FRPN token holders also benefit from being able to receive rewards.

Its been a long and successful presale for FIREPIN Token which will very soon take a deep dive into the cryptocurrency market and there is a good chance theyll flourish.

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