DeFi has not been spared, just like the rest of the crypto market. The price of native tokens for DeFi protocols has tumbled, and investors have seen their gains wiped out. Some of the most prominent examples of the fall of DeFi are UNI and CAKE.
Uniswap (UNI) is one of the most popular protocols on Ethereum. It allows users to trade tokens without using an intermediary. Protocol was secured by Ethereum, and since its 2018 launch, it has continued to grow in popularity.
Uniswap has held onto the title of the most popular DEX in the world for years. The main benefit of a DEX is that users retain complete control of their private keys. Since there is a centralized storage point, hacking and stealing funds from a DEX is almost impossible.
A DEX is also more censorship-resistant. That means no central body can delist a user or a token. On a centralized exchange, your funds could be seized. Alternatively, a token could be delisted at the whim of its directors.
Uniswap’s utility and ease of use are the main reasons for its popularity. While DEXs existed before Uniswap, many were slow and cumbersome. Uniswap forever changed the game. It forms part of the new age of decentralized platforms that offer similar capabilities to centralized platforms.
Another noteworthy project is the Pancakeswap protocol, which uses the CAKE token. CAKE is one of several tokens used for token swaps. The platform closely mirrors Uniswap and contains liquidity pools. Users can earn via lending, staking, and yield farming.
Users of PancakeSwap can earn trading fees and LP tokens when they provide liquidity. LP tokens can be redeemed for the initial capital deposit and all fees earned minus all impermanent loss. Additionally, LP token holders can stake, farm, or trade them. Since the PancakeSwap protocol is open-source, it can be cloned. Despite this, the platform remains quite popular within its community.
CAKE and UNI Poor Performance
Since the start of crypto winter, UNI tokens have lost over 70% of their all-time high valuation. CAKE tokens have not fared well, either. They have both recorded massive losses, which have cost their holders a lot of money.
A New Age Led by Oryen Network
While CAKE and UNI were revolutionary, their time is past. Their value continues to drop and will likely continue during crypto winter. One way to mitigate these losses is for investors to find the next step in the evolution of DeFi.
Thus far, investors have chosen Oryen Network, with its native ORY tokens. These tokens herald a new era of DeFi. The Oryen Network offers investors a fixed APY of 90%, supported by a system of value wallets to hold the token price in place if any large selling occurs. Many investors see the opportunity presented by ORY and have made huge investments. The token’s price has shot up by 250% as a result. That is impressive for a project still in its presale phase.
Summary
When the Oryen Network goes live, it will herald a new era for DeFi. It will bring unparalleled value, speed, and security to DeFi investors. Those who get in now will benefit the most.
For More Information:
Join Presale: https://presale.oryennetwork.io/register
Website: https://oryennetwork.io/
