Founder Neo Da Hongfei, during a live broadcast in China Hub, on September 25, stated that the hype on DeFi was not waning, in fact it was just beginning.
In a few years, DeFi did what traditional finances did for centuries
Da Hongfei said at the conference that in just a few years, DeFi had created a process that it took hundreds of years for traditional finance to perfect. Currently, DeFi projects are experimenting with all kinds of financial products and services.
“Credit and loans, decentralized exchanges, insurance and all kinds of derivatives are booming at DeFi. The initial phase of DeFi’s infrastructure is off to a solid good start, and now it’s time to see more and more applications being built and rolled out on DeFi. ”
According to Da, DeFi has brought many new opportunities in the financial arena, including the creation of a new type of asset that allows users to access cash at any time. DeFi said Da will have a significant impact on the economy in the future. He predicts that in the future, people will not need banks because they will use DeFi services. Using China as an example, Da said:
“Part of the Chinese did it, probably doing business with banks, Alipay and WeChat. At least they made this kind of financial behavior possible without going to the bank. “
Neo and Binance are interested in DeFi
Da, and Binance Co-founder He Yi, revealed in a broadcast that Neo and Binance are actively looking at DeFi apps. One such application is Flamingo, an interoperable, full-sized DeFi protocol built on the Neo blockchain. It allows users to participate as traders, stackers and liquidity providers. Binance announced that it introduced the Flamingo to its launch pool on September 23.
In mid-September, we also reported that Changpeng Zhao to adopt more DeFi projects on the new Binance Smart Chain (BSC) platform. In a twitter discussion with another user, Zhao explained that this step will reduce the load on the Ethereum network, which in turn will lead to lower gas charges.
Of course, love to see moe DeFi projects migrating over, and lessen the load on ETH, and hopefully, reduce the gas fees there a little too.
– CZ Binance (@cz_binance) September 13, 2020