Overview market

Decentralized finance (DeFi) has experienced tremendous growth over the past year. While the development of new DeFi protocols has spurred innovation and attracted massive inflows of capital and users, it has also caused some tough spots for the market.

The current state of the decentralized financial ecosystem

As of January 2022, there are more than ten Decentralized Exchanges (DEXs) under development on Binance Smart Chain and Ethereum. Today there are more than 20,000 cryptocurrencies and tokens in existence, each operating on an independent and limited Blockchain platform.

This leads to liquidity and bridging functionality, where one platform cannot access liquidity and functionality from another chain. The liquidity pool in the market is fragmented, it is important to create the infrastructure to close this gap.

With an increasing number of organizations As investors enter the crypto space, the need for a platform that aggregates liquidity and supports interoperability is sure to increase.