Decentralized finance has significantly improved the shortcomings of the existing banking system. Unlike centralized financial organizations, DeFi protocols ensure users have complete control over their assets. Applying this principle, DeFi protocols can provide similar services to those offered by centralized financial institutions.
HypaSwap is an exciting project that provides decentralized lending and borrowing services to its users. Much like Aave, HypaSwap eliminates the need for a central authority on its platform. Lenders can lock their assets into the HypaSwap pool and start earning interest.
HypaSwap uses an autonomous decentralized organization (DAO) used to manage its activities. This option helps to eliminate any form of centralized authority running the platform.
The platform is easy to use and provides easy access to funds. HypaSwap, however requires borrowers to overcollateralize their loans to sustain their ecosystem. Due to the over-collateralization of its loans, HypaSwap users will not have to worry about fraud or defaulting loans.
The architecture of HypaSwap also supports other financial activities like staking and collateral swapping. Thus, users can stake their digital assets for a significant return on investment (ROI). It’s also possible for them to earn more rewards for their activity on the HypaSwap platform.
From the market research of the HypaSwap team, they discovered that many people adopt cryptocurrency in developing countries rather than developed ones. Therefore, HypaSwap’s objective is to bridge this gap and encourage more individuals from developed and developing countries to adopt crypto. To achieve this, HypaSwap intends to bring its borrowing and lending system closer to them.
HypaSwap Token (HYPA)
The native token of HypaSwap is known as HYPA, an ERC-20 token running on the Ethereum Network. HYPA will power all operations like; interest rates, staking incentives, penalties, and so on. Users can earn HYPA on the HypaSwap platform or purchase it from a popular crypto exchange using the current market price.
Holders of $HYPA are also responsible for making decisions regarding HypaSwap through its Decentralized Autonomous Organization (DAO).
HypaSwap Versus Ethereum(ETH) – Battle of The Titans
Ethereum is a second-generation crypto blockchain. The network’s robust architecture makes it more than just a store of value but a project with numerous utilities. By providing a powerful network that powers itself and many other projects, Ethereum aims to revolutionize the crypto space.
Among the crucial objectives of Ethereum is to build a structure that is an improved version of what its predecessor (Bitcoin) offers. Ethereum achieves this by launching a unique programming blockchain that is customizable to cater to the needs of its global users.
Another intriguing feature of Ethereum is its Ethereum Virtual Machine (EVM), which allows developers to code their projects in any programming language. With EVM, thousands of decentralized applications (DApps) with great functionalities reside on Ethereum’s network.
Ethereum also has a feature known as uPort, a decentralized identity protocol that allows users to identify themselves. They can also share information and other valuables transparently.
Many notable industries in the world leverage the power of Ethereum to provide excellent customer service. Recently, Santander Bank collaborated with ConsenSys to create a cash tokenization system that allows users to make swift local and international transactions through the Ethereum Ecosystem.
The native token of Ethereum is ether (ETH), the second most valued coin only behind Bitcoin, with a market capitalization of around $208 Billion. ETH reached its all-time highest value of about $4800 in July 2021. ETH serves as a means of exchange among traders and can be retrieved from almost all crypto exchanges of the world.
HypaSwap is blessed with resources and architecture that will make lending and digital borrowing of assets more seamless for both parties. Join this platform now to enjoy its benefits.
Anyone who purchases HypaSwap ($HYPA) with Binance Coin during its presale will receive a 20% bonus for using BNB/BSC. There is also a referral bonus of $50 for you and your referral for every $200 spent by your referral.
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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