If you have been paying attention to the cryptocurrency markets in 2020, you have more than likely come across the word DeFi (decentralized finance) and a wide range of projects that offer DeFi products and solutions. As documented in an article in late July titled “The Top 10 DeFi Projects To Watch In The Second Half Of 2020,” the DeFi industry has grown from $5 billion to $15 billion in under one month.
While this article was reflective of its time, the industry has since produced a new wave of market interest and projects, with Asia being at the forefront. As with recent years, Asia is a hub of blockchain innovation as billions of people now have the potential to access what traditional financial services providers offer, except on their terms and with much greater flexibility by using digital assets. DeFi is rapidly changing the way people think about digital assets in Asia, especially stablecoins which can now be used to earn interest and rewards in a wide range of farming, staking and liquidity pool opportunities.
The following projects are all Asia-based and have managed to capture the attention of some of blockchain’s leading investment firms, as well as grow passionate communities that are active participants in each project’s DeFi products. While not fully inclusive, this list has been substantiated by leading advisors and contains projects objectively provided based on their merits.
1. RAMP DEFI
If you’re looking to tap into your staked assets, you’ll need something called a liquidity bridge in order to turn them into liquid capital. That’s where RAMP DEFI comes in. Ramp aims to create an ecosystem that supports cross-chain value transfers between ERC20 and non-ERC20 assets, helping users unlock value from their staked non-ERC20 asset portfolio and deploy “recycled” capital into new opportunities. This is the first solution of its kind.
Ramp is backed by some of the most notable blockchain investors and built by a team of AI and financial experts. The Singapore-based company is about to officially launch a public sale after a significantly oversubscribed private round in the summer of 2020.
2. OIN Finance
OIN Finance is the first DeFi platform built on Ontology (ONT), creating one of the first proper DeFi platforms not focused on the Ethereum blockchain. OIN provides cross-chain functionality and has a mission to become a gateway into DeFi for traditional industry players. OIN’s products will include a liquidity mining DEX platform and native lending platform on ONT, as well as, issuance of a native stablecoin (USDO) to be used for the company’s robust offerings. The company will soon be expanding to other blockchains as well.
With an experienced team based in Asia and North America, OIN has emerged as one of the most exciting projects at the moment. OIN is running a public sale on August 26th after successfully closing a private round that included FBG Capital, Signum Capital, Block Water, Ruby Capital and more.
3. MANTRA DAO
After launching in August 2020, MANTRA DAO has consistently been one of the most searched blockchain projects on CoinGecko and for good reason. The Hong Kong-based company is building a community-governed DeFi platform that is focused on staking, lending and governance. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO offers exclusive opportunities for Polkadot and Kusama staking and soon to support other chains for various interest-bearing rewards.
MANTRA DAO was founded by seasoned blockchain entrepreneurs John Patrick Mullin and Will Corkin. The team is backed by notable Asia investors such as LD Capital, Kenetic, PLUTUS.VC, and more. MANTRA DAO’s native token (OM) is currently trading on Bithumb Global, Poloniex, Uniswap and other notable exchanges.
Bytom was created in early 2017 and has grown into a well-known company in the industry with a market cap of over 0 million. More recently, Bytom has been laser-focused on becoming an important figure in the DeFi industry as the company announced the release of MOV, a decentralized cross-chain layer 2 value-exchange protocol to build a diverse asset value-exchange cooperation ecosystem.
With multiple patents already secured and a growing community, Bytom is well poised to continue being an important figure in Asia’s growing DeFi landscape.
Simply put, dForce aims to reimagine money and reinvent finance. This interoperable platform of open finance protocols creates its own interdependent ecosystem, including a liquidity protocol, lending protocol and much more all focused around providing a full-stack DeFi ecosystem. Using dForce, users can trade, borrow and utilize assets such as USDx all within a decentralized token-based system. The platform is cost-efficient and secure — perfect for the new blockchain enthusiast or the seasoned financial expert.
Disclaimer: Please consult your financial advisor before investing in any cryptocurrencies as they are volatile and pose risks for the average investor. This post is informational in nature and does not constitute financial advice. The writer may have or may hold positions in some of the companies mentioned, either through a personal relationship, as in investor, or user.
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