DeFi stormed into the world of cryptocurrencies in 2019 and unleashed raging flourish in the online financial sector. IOST is all set to join in the DeFi craze in an attempt to explore the thriving DeFi space in H2 2020. The development of PowerDeFi by IOST is focused on its objective of completing and launching at least three monetary applications by the end of September 2020, as is evident from the up-to-date road-map.
The fans of IOST cannot stop gushing about the project PowerDeFi that was developed and launched by IOST Partner Node Powermine. The platform of PowerDeFi is equipped with a unique and remarkable exchange port, Uniswap, and a complete Perpetual ecosystem as well. According to the data report of DappRadar, the seven-day trading volume of PowerDeFi has crossed 10 million IOST at top speed to touch 14,718,559.324212 IOST, as recorded most recently. Needless to say, this ultra-robust, progressive, and the thriving platform is striving to attain the stature of a relentless force to be reckoned with and beyond on the IOST.
The community of PowerDeFi is going gaga about the project that bears a huge potential of raking in more revenue and is truly the best and most admirable project of DeFi. Read on to find more about PowerDeFi in a nutshell.
PowerDeFi, the full DeFi ecosystem on IOST
Introduced on 6th June 2020, PowerDeFi offers an all-new ecosystem, complete with the exchange port, Uniswap.
Driven by the Uniswap protocol, Uniswap is the first DeFi DAPP that aids in the automation of the trading process by the elimination of the order books, which makes trading highly convenient. Uniswap supports two kinds of users- liquidity providers and buyers & sellers. The liquidity providers make provision for the necessary liquidity for the requisite trading pair, and they are the automated market makers as well for the particular trading pair. The buyers and sellers receive ample benefits from the ecosystem due to the reduction in the waiting period for trading. The buyer and seller also ensure that the price slippage for the order size is within reasonable limits.
The Perpetual Ecosystem
The most important DAPP on the IOST is the Perpetual Ecosystem. It includes Token Supply Distribution, a Perpetual Lobby, Staking Pools, and PER Loans, which make trading incredibly efficient.
The solemn objective of the Perpetual Ecosystem is to forge an economically efficient trading space that will continue to flourish over time.