DeFi Coin DEFC gains popularity after recent updates. Time to buy?

The rapid advancement of technology and exposure to the blockchain industry has created an audience that is constantly looking for an extra layer of security and complete autonomy over their assets. The masses are adapting and embracing the idea of decentralization, and have been largely involved with organizations that are based on this concept. While several industries have started to participate in decentralization, one of them stands apart as the most used.

The finance sector has been in dire need of projects that provide users ultimate control over their assets without the interference of any third party. Blockchain tech is expected to eventually revolutionize the industry from its current state and make this possible.

While there have been several risky investments, projects that seem to deliver on this objective right on point have been introduced to the market recently. This article shall talk about the same. But first, let us get an idea of what the term Decentralized Finance or Defi actually means.

Defi and Defi tokens

A Defi platform or protocol is a simple concept if compared to its physical counterpart- banks. Similar to banks, a Defi platform functions by lending people money, and letting the masses earn interest on their assets that are staked. However, the attractive feature about this is that a Defi or Decentralized Finance platform, true to its name is completely decentralized. Thus, there is no authoritative figure that has control over any of the operations carried out within the platform. The entire process is computed and is run by smart contracts, which are pre-written codes.

A Defi token is simply the native token of that particular platform. It allows you to vote and contribute to making decisions about the future of the platform as a whole. It is also primarily used as the digital version of a fiat currency within the protocol or platform. Thus, transactions are carried out using these tokens.

What is DEFC?

DEFC or DeFi Coin is the native currency of DeFi Swap. As we touched on above, this particular currency is the alternative for fiat, but for the DeFi Swap protocol. Headed by Scott Ryder, the team too has a cumulative experience of over 35 years in the space and has previously worked on cryptocurrency projects.

The DeFi Swap protocol had gained traction due to its 75% APY returns on its native token. Furthermore, it boasts of a 10% tax share, where the users can earn a source of passive income by simply holding their coins. The transaction tax attracts 10%, which will be distributed among the then holders. The developers have also announced to eventually bring in a burn program to increase demand and reduce supply.

DEFC proves its transparent source of yield model

Yield farming is a feature that is available on the DeFi Swap. In this case, users generally provide liquidity for transactions and earn a decent and constant income every time a transaction is made. This is possible through the transaction fee that is levied during the transaction.

DeFi swap has one of the most transparent Defi platform models and has given out information regarding every transaction within the ledger itself. Moreover, the amount of trust in the token by the community was enhanced as the team announced that they had burned all their holdings and were to participate in a fair launch like any other investors. The platform will also feature an NFT collection that users can trade in for DeFi Coin tokens.

The price of DEFC has corrected to $0.13 at the time of writing due to the overall bearish sentiment in the market. However, with just over 11 million tokens in circulation, the developers state that the potential for DEFC is bright and can expect a decent demand as soon as the market conditions start looking green again. The token is currently available to buy on Pancakeswap or Bitmart.