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The RISE of DeFi

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TeamMalaysia Boleh !
@bitrocker2020
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Its been a crazy few weeks where DeFi has been the main talk of the town. With ETH 2.0 phase 0 estimated to launch by end of July 2020 we may see a huge rise in ETH and ERC20 based tokens.

You can read about the 3 phases of ETH 2.0 launch from this article.

https://www.coindesk.com/95-confidence-ethereum-developers-pencil-in-july-2020-for-eth-2-0-launch

So far one of the most popular token which is currently being distributed is COMP ( Compound ) with providing liquidity and borrowing from compound.finance , you would be able to receive COMP tokens as rewards.

And how much if COMP worth at the time of this article ?? Well .. its even higher then ETH itself and everyone seems to be in heavily on supplying and borrowing on BAT today. Thats why you can see a huge increase in price over BAT as it has been used as collateral to get COMP token.

Is it too late to get in ?

Well .. there are several projects which are about to enable staking such as LINK, KNC, tBTC, SNX ... and so many more. This could spark a huge buy in from retail investors as they see its potential earnings.

Even though I do like the idea of taking a flash loan just to get some COMP tokens, however there are multiple risks of getting liquidated if the price makes a sudden change and dips low. So do be careful and do your due diligence before getting in on this DEFI rush.

Cheers all and I guess its going to be a crazy week ahead for crypto.