Formo Holdings – The next big thing in DeFi investment solutions

New York, NY, May 26, 2022 (GLOBE NEWSWIRE) — Decentralised finance (DeFi), also known as open finance innovation, was a watershed point in the history of finance. With the advent of tokens like Compound and Sushiswap promising significant payouts to crypto traders, it grew to prominence in the summer of 2020.

According to DeFi Pulse, the total value locked in DeFi protocols has increased by tenfold since May 2020, standing at a whopping amount of $78 billion. This is the current value of all cryptocurrency deposits used for lending, staking, liquidity pools, and other purposes.

According to Dune Analytics, DeFi applications are used by over 4 million unique addresses (proxies for users), representing a 40x increase in the last two years.

Ethereum is the foundational blockchain for DeFi applications and the second largest cryptocurrency by market cap ($345 billion), settled over $11.6 trillion in transaction volumes surpassing Visa (the second largest payment processing company) in 2021. This is an emerging alternative financial infrastructure challenging traditional…

Read more at finance.yahoo.com

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