DeFi offers to help curb the intricate network of the dysfunctional banking industry. A single body governed every facet of finance, including transactions, loans, and stock prices which led to widespread corruption and unethical business practices.
As a result, there was an explosion in the number of cryptocurrencies built on the DeFi platform. Both the platform and the cryptocurrencies associated with it are currently regarded as game-changers in the cryptocurrency market. One of such cryptocurrencies that will revolutionize the DeFi industry is the soon-to-be-launched HypaSwap (HYPA).
We will compare it to two other platforms in this article; Avalanche (AVAX) and Uniswap (UNI).
Avalanche (AVAX) is the framework for decentralized apps using smart contracts to operate. Avalanche’s primary objective is to build a blockchain that is extremely secure and adaptable without losing decentralization. Users benefit from the eco-friendly application of smart contracts in Avalanche and lower setup costs. Additionally, Avalanche users can experience higher speeds.
Developers can launch unique blockchains using Avalanche Virtual Machines. The Avalanche Bridge makes it simple for users to move funds to or from Ethereum. Avalanche uses significantly less energy than PoF networks because of its PoS consensus algorithm. Avalanche prides itself on a blazingly fast, eco-friendly, and low-cost service.
In addition to hosting other applications that benefit from its quicker and more effective ecology, Avalanche was initially intended to serve as the foundation for DeFi. Avalanche is in a prime position to fill its targeted niche as DeFi’s preferred destination. This is because Avalanche is a PoS network with the highest speeds and the most validators.
In 2018, Hayden Adams launched Uniswap (UNI), and it soon became a popular decentralized exchange in the crypto market. Uniswap utilizes the software built on Ethereum which allows customers to manage the cryptocurrency exchange. One such exchange would be a market where traders could buy and sell cryptocurrencies.
Automated Market Maker (AMM) technology is the main development that makes the Uniswap system work. AMMs are smart contracts that control the Uniswap pools that supply the tokens needed to complete trades.
Uniswap protocol, which is a great example of the potential of dApps led to the growth of the DeFi platform. Uniswap’s recently launched UNI governance token improves on the idea of community self-sufficiency which allows the participation of all stakeholders in policy decision-making.
HypaSwap (HYPA) is a DeFi platform based on the Ethereum blockchain. It is a decentralized liquidity protocol that allows lenders and borrowers to trade assets over a liquidity pool. The lenders earn interest on the locked asset as a result of lending their assets using the HypaSwap platform. The borrowers obtain the assets from the liquidity pool in return for collateral.
The HYPA token serves as the native token for the HypaSwap platform. HYPA can be purchased at the current market rate through cryptocurrency exchanges or earned on the platform. The HYPA cryptocurrency is largely used for activities like interest rates, charges, and staking incentives, among others.
HYPA mainly focuses on lending and borrowing, for which the platform has developed a reliable mechanism that allows these transactions to be made without the fear of losing money to fraud or bad loans. Additionally, it has a complete framework that allows community members to actively engage in extra-banking activities such as staking and collateral exchanging. Members are expected to purchase more tokens to increase their returns on investment and receive benefits for their active participation.
HypaSwap intends to create a dominant market position to introduce the DeFi system all over the world. HYPA owners will be connected and empowered as a result, and DeFi lending or borrowing opportunities will be brought to their homes. This will establish a strong footprint for the DeFi system throughout the world.
HypaSwap is one of the most valuable DeFi systems with a solid foundation and an incredibly promising future that you don’t want to miss!
To find out more about HypaSwap (HYPA), visit the following links: