Morgan Stanley, a large financial firm, has published a study arguing that the future of DeFi is not as bright as many expect. It went on to explain that "regulation and excessive collaterisation" are the two key problems hindering the DeFi space's expansion.
Despite this, more DeFi initiatives will arise because the DeFi market is huge, with a lot of untapped potentials. In this article, we'll take a look at three DeFi projects uncovered this week. Please bear in mind that these are not buy signals; if you want to buy any of these, DYOR!
What is Lunar?
Lunar is a decentralized finance (DeFi) ecosystem that aims to improve our interactions with cryptocurrency.
Lunar claims to simplify the cryptocurrency experience in general.
The Lunar ecosystem creates a seamless and easy user experience, with security as a key focus. Furthermore, the ecosystem makes use of "Plexus technology," which enables easy trading across different blockchains.
Three components make up the heart of the ever-expanding Lunar ecology. These include
- The Lunar App,
- The LNR Token, and
- Lunar Crystal NFTs.
The Lunar App seeks to combine crypto and NFT trading on a single platform, with the ability to trade across many blockchains with a single click.
The Lunar Crystal NFTs, on the other hand, are said to unlock extraordinary powers for users of the Lunar ecosystem. These crystal NFTs can also be staked to obtain LNR token payouts.
Team Behind Lunar
Spaceman Lunar (an alias) is the CEO and co-founder, and Mr. Moonshot is the co-founder and COO. MasterJedi, the CTO, and Apollo, the marketing head, are also on the team.
For the sake of privacy, the identities of team members are not revealed. However, the creators of Lunar have been KYC-verified by Dessert Finance.
The LNR Token
LNR is a BSC (BEP20) token that serves as a utility token for the Lunar ecosystem as a whole.
LNR now has a nano market value of around $20 million and a market price of $0.00000002563. It likewise has a maximum supply of 1 quadrillion and a circulating supply of 78%.
This project's roadmap is separated into five stages. Phases 1 and 2 have been completed, while phase 3 is now underway, according to their official website.
LNR can be purchased on BitMart and DigiFinex. It is also available on PancakeSwap. However, it is more liquid on DigiFinex than on BitMart, resulting in quicker trade completion.
What is NEOPIN ?
NEOPIN is a DeFi platform that operates both on and off the blockchain.
Also, NEOPIN is a blockchain platform hosted by NEOPLY, a blockchain subsidiary of NEOWIZ HOLDINGS.
The primary vision of NEOPIN is connection and expansion, while its key value is user-friendliness.
Aside from blockchain services like staking, swapping, and yield farming, Neopin also provides off-chain services like play-to-earn (P2E) and service-to-earn (S2E) where NPT may be used in a variety of on/offline businesses.
Plus, NEOPIN also offers great reliability for its consumers through trusted partnerships and better security, while remaining at the forefront of the business by keeping up with emerging advancements in blockchain technology.
Users of the NEOPIN ecosystem are rewarded based on their ability to contribute liquidity.
NEOPIN also has its own wallet, the NEOPIN Wallet, which is a "differentiated private wallet from an ordinary wallet that can only be used by the user himself/herself."
Team Behind NEOPIN
The group behind NEOPIN is shrouded in mystery, with little information about them available on their website or vision paper. As per LinkedIn, the CTO of NEOPIN is Kim Heesung, who has 12 years of experience with Samsung as an open-source specialist.
According to reports, the CEO of NEOPLY is SeungHeon Oh. Moreover, NEOPIN has collaborations with NEOPLY, NEOWIZ, EOSeopul, and Klaytn.
The NPT Token
NPT is a utility token on the Klaytn network, that serves as a significant medium of exchange or reward.
NPT presently has a market cap of more than $40 million and a market price of more than $8 per token. It similarly has a maximum supply of one billion units and a self-reported circulating supply of 4.8 million units.
According to Klaytn Scope, NPT presently has 5,626 token holders.
The 2022 timeline is divided into four quarters:
Q1: Official Release
Q2: Service Expansion Phase 1
Q3:Service Expansion Phase 2
Q4:Global Platform Connection
NPT is now available on centralized exchanges like Bithumb, Coinone, MEXC, ProBit Global, and Bitget. On the same note, NPT can also be exchanged for KRW, BTC, and USDT.
What is ADALend ?
ADALend is a "scalable and decentralized lending protocol regulated by DAO" that employs the most recent generation of cutting-edge lending technology.
Furthermore, this project has been mentioned in a number of major media outlets, including Bitcoin.com, Cointelegraph, Investing.com, and CryptoNews, among others.
ADALend is permissionless and promises to lend on any pairing by guaranteeing the best offers are accessible and only the safest oracles are deployed.
In addition, the ADA Lend protocol will serve as a foundational layer for quick loan approval, automated collateral, trustless custody, and liquidity.
It also provides "incentivised liquidity," which means that this protocol will incentivise users to deposit assets and provide liquidity. ADALend token holders can also reach an agreement by voting on governance proposals or submitting new proposals for a vote.
Team Behind ADALend
ADALend is led by Kaspars Koskins (CEO), Ali Krynitsky (CTO), and David Abashidze (community manager).
Kaspars is no stranger to the realm of traditional consumer lending and savings. He founded ADALend as a result of his dissatisfaction with low-interest rates for depositors and the difficulty of obtaining loans.
His goal is to eliminate banks and intermediaries by leveraging the power of the Cardano blockchain to democratize and decentralize the world of finance.
Ali, on the other hand, was previously the CEO and founder of Robatz Network, a well-known software development firm.
The ADAL Token
ADAL, as predicted, operates on the Cardano blockchain and ADAL is ranked 2,914 on CoinMarketCap, with a self-reported market cap of about $400,000.
Likewise, its supply is limited to 45 million, with 451,125 ADAL now in circulation. ADAL is currently trading below $0.90
According to CardanoScan, ADAL has a transaction count of 7,441.
The roadmap actions for this year are in the works and are divided into two broad objectives.
The first two quarters of 2022 will be focused on research and beta, while the third and fourth quarters will be focused on liquidity and launch, including the full launch of the ADALend protocol.
Furthermore, the listing on major exchanges is anticipated to commence in the first quarter of 2022.
ADAL is now only available on DEXES such as SundaeSwap, PancakeSwap, UniSwap, and AstroSwap.