DeFi. Warning: mining can become addictive!
For the cryptomarket this August will be really fruitful as we’re going to witness several important events at once: TRX speeds up in order to outdo Ethereum which is reluctant to yield its positions… Intrigued? Great! Let’s then see what is in store for us this month.
Lately, DeFi sector has been really hyped — its popularity skyrocketed due to new protocols and services that are able to adequately compete with traditional banking sectors as DeFi’s main advantages include freedom from control of investors’ financial flows and the opportunity to get passive income from deposits and fees.
On the backdrop of this, the founder of Tron Foundation Justin Sun snatched this hot opportunity and announced the launch of JustSwap, decentralized token exchange protocol. Sun explains that after its launch the users will become liquidity providers who will be able to get trading fees and mining rewards, which, in its turn, will attract new TRX and TRC20 holders to the platform.
Moreover, together all three JUST projects (JustLend, JustSwap and JustBTC) will create a unique ecosystem. The launch is scheduled this week but even today these headlines increased cryptocurrency value — from August 13 it gained more than 30% and continues to go up! Traders expect that after the launch of JustSwap the token will move north by leaps and bounds.
Meanwhile, the overwhelming popularity of DeFi protocols in the Ethereum net sparked off the incredible increase of fees and Ethereum gas, which hit its peak at $99 — on Thursday, blockchain registered a record number of transactions worth $6,87 billions. However, such craze backfired — users began complaining about prohibitive fees, which are a serious drag for DeFi activities. Having suddenly realized the problem, developers hurried to announce the launch of new Berlin hard fork, which may be released this month. New hard fork is aimed at solving some aforementioned problems, in particular at adjusting gas value changes for some transactions.
Evidently, DeFi is becoming a new reality that will hardly leave aside even those uninterested.