Since its inception, human society has continuously improved by creating new technologies and finding answers to the challenges that have afflicted it for so long. These technologies are widely used in a variety of fields, including the banking and money industry.
Because of man’s need for money throughout history, several types of money, including paper money, paper currency made of precious stones, gold, and silver, as well as cryptocurrencies, have been invented.
DeFi, or decentralized finance, is riding the cryptocurrency wave, which is a digital currency that functions on the blockchain.
DeFi is an innovation to the old financial system of banks, paper currency, and so on, with decentralized exchanges, decentralized apps, cryptocurrency coins, and so on replacing these interaction points. Many efforts, such as Uniswap (UNI) and PancakeSwap (CAKE), continue to make DeFi features available to humanity all over the world.
Uniswap (UNI)
Uniswap is a decentralized exchange and cryptocurrency market that allows peer-to-peer trading, buying, and selling of cryptocurrencies without the intervention of a centralized organization or outside party. Its native currency is designated with the prefix UNI.
It is an Ethereum-based exchange platform that offers liquidity and facilitates the trading of any ERC-20-compliant digital token.
The platform compensates these users with UNI when Uniswap holders contribute liquidity that is pooled together for staking actions to win rewards. Only supporting Ethereum-based assets or having a self-hosted wallet are just a few of its drawbacks.
PancakeSwap (CAKE)
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PancakeSwap, on the other hand, is a DeFi blockchain application that supports just BEP-20 tokens and was developed on the Binance smart chain. Users that provide liquidity to the staking pool are rewarded with its native cryptocurrency, known as CAKE.
It seeks to compete with other decentralized exchanges constructed on the Ethereum network, which also serves as the primary basis for the DeFi project.
Both exchanges can employ an automated market maker system, which depends on user-provided liquidity pools to allow for cryptocurrency trading. Where do we go from here since UNI and CAKE both attempted to model the outdated DeFi system, which had flaws?
Oryen Network
Oryen Network is a ground-breaking technology that will usher in a new era of DeFi. It enters the market with a novel technology known as the Oryen Autostaking Technic, which provides users with a simple way to stake and earn rewards in the network’s native currency, ORY (OAT).
This feature sets OAT apart from other liquidity providers like CAKE and UNI since it guarantees that customers just need to deposit their assets into a risk-free value wallet to start earning rewards at a fixed APY of 90%.
The protocol’s market value has increased by over 250%, which is noteworthy and can be attributed to the strong value proposition it offers.
Summary
Oryen Network is demonstrating that it is a top DeFi initiative that is here to stay and will make individuals rich, whether they are experienced in the business or are brand-new to it.
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