Finance For The Next Billion: Introducing The Elrond DeFi 2.0 Module

Beniamin Mincu
·
Feb 17, 2021
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2 min read

Decentralized Finance introduced products and services that are theoretically very useful. Transposing traditional products - such as remittances, borrowing, lending and trading - to the blockchain space has the potential of offering an improved financial future to a broader category of previously unreached participants.

In practice however, due to associated complexity, these products have been available to only a handful of people.

Indeed, the DeFi marketcap has been rapidly expanding and recently crossed the $40 billion USD milestone. The growth has been happening in spite of the associated long waiting times, high fees and UX concerns that many products have.

Imagine the tremendous potential of DeFi: its growth trajectory and implications, when these services become simple enough to be accessible to anyone, anywhere.

Enter Elrond DeFi 2.0 module - taking decentralized finance to its natural conclusion and making it accessible to the next billion people.

The Elrond DeFi 2.0 module will be a community focused effort, featuring automated swaps, liquidity pools, borrowing, lending, and synthetic assets. Participants will engage in yield generation using fast and inexpensive transfers, powered by the Elrond blockchain, and using a simple and intuitive interface.

Perhaps the most exciting piece of the module will be the LaunchPad. Through this, projects from around the world will be able to accelerate deployment of many open source applications on the Elrond network, while securing funding and gathering strong support within the Elrond community.

Builders will be able to unleash their creativity, tapping the full force of the Elrond ecosystem. Tools like meta transactions, smart accounts, ESDTs, NFTs, Elrond’s distributed name service, will convey a new meaning to the end user thanks to an elegant integration of the Elrond tools.

The Elrond DeFi module will be rolled out in several phases during the next few weeks, with the first phase scheduled to go live on hypergrowth day 95.

This hypergrowth marathon is merely the warm up. Once the DeFi module and LaunchPad are live, the next growth phase will begin.

The future of finance is here.

Internet-scale performance, global transfers, inexpensive transactions.

It’s time to simplify DeFi, and make it accessible to the next billion people.


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Written by
Beniamin Mincu
CEO, Elrond Network