With the advent of decentralized finance or DeFi, in recent years, many buyers are left to wonder how large of a role DeFi and crypto will play in the coming years. The reality is, DeFi holds great promise in the years ahead. However, multiple challenges still need to be overcome for DeFi to become all it was destined to be, according to Dan Schatt and Domenic Carosa, the experts at the new crypto and DeFi platform Earnity. Let’s take a look at them here.
The first challenge that DeFi will have to overcome in the 2020s is the issue of its illiquidity. Liquidity incentivization will need to be implemented to expand its influence. In addition, active management will need to be prioritized to boost its liquidity. Automation will also need to be implemented to make DeFi more influential.
Fortunately, it is more than possible to overcome these challenges and bring DeFi access to more people, which Earnity is doing in 2022.
In late 2021, the company announced that it had raised a total of $15 million as part of a Series A round of funding. BitNile, a leading Bitcoin mining and diversified holding firm, led the round. BitNile has a data center that produces Bitcoin and provides services to multiple industries’ clients, including those in the aerospace, industrial, automotive, and telecom fields.
With the recent $15 million round, the crypto marketplace ended up raising over $20 million last year. The funding will help the company further its goal of democratizing crypto access for a broad range of buyers. Because of this funding, immense growth opportunities are expected for the company in 2022, according to Dan Schatt and Domenic Carosa. They said they are eager to see how the new platform revolutionizes buying in the months ahead.
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