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Decentralised finance (DeFi) has exploded in popularity during the last year. Additionally, 2021 was a watershed year for numerous DeFi cryptocurrencies, including Wrapped Bitcoin (WBTC) and THORChain (RUNE), which reached all-time highs in 2021.
DeFi Pulse's total value locked in DeFi protocols exceeds $75 billion – a 6.5x increase from roughly $10 billion in January 2021. This is the current worth of all deposits made in cryptocurrency for purposes such as lending, staking, and liquidity pooling.
Interestingly, a newcomer to the DeFi arena called Seesaw Protocol (SSW) seems to be on the verge of disrupting the industry.
This article discusses all three of these ground-breaking DeFi currencies and why they should be included in your portfolio.
Wrapped Bitcoin (WBTC) is an Ethereum (ETH)-based ERC-20 token that acts as a substitute for Bitcoin (BTC). WBTC's connectivity with Ethereum wallets, decentralised applications (dApps), and smart contracts is a substantial benefit.
One Bitcoin can be exchanged for one Wrapped Bitcoin through a WBTC partner, and vice versa. WBTC was developed to enable Bitcoin holders to engage in Ethereum's popular DeFi applications.
This interoperability feature enables crypto holders to participate more actively in decentralised applications, enhancing the liquidity of smart contract platforms.
According to CoinMarketCap, WBTC currently trades at $39,600 and has returned an ROI of 1,033% since its inception for early investors, making it a fast-growing DeFi coin.
The THORChain (RUNE) project was launched in 2018 because the practice of transferring cryptocurrency across multiple blockchains through centralised exchanges was unsustainable.
As a result, the THORChain team created an autonomous blockchain capable of bridging to other networks and facilitating cross-chain transactions while also serving as a decentralised exchange (DEX).
THORChain is a self-contained blockchain developed using the Cosmos SDK that facilitates decentralised cross-chain trading. It operates on an automated market maker (AMM) paradigm, with the native token RUNE serving as the basic swap pair.
RUNE is presently trading at $8.38 according to CoinMarketCap and has generated a return on investment of 26,098% for early investors, making it another one of the fastest-growing DeFi cryptocurrencies available.
One would assume that debuting during a crypto sell-off would be near-fatal for a new cryptocurrency aiming to build a name for itself in the marketplace, but then again, you may be unfamiliar with Seesaw Protocol (SSW).
SSW launched in early April after a record-breaking presale that saw the token increase over 6,000% from $0.005 during the presale phase to $0.306 at the time of writing.
Seesaw Protocol is a decentralised, non-custodial ecosystem of DeFi products, services, and use cases that span many chains. Additionally, its applications extend to the metaverse and NFTs.
The Seesaw Token will be distributed on the Polygon (MATIC), Ethereum and BNB chain.
Seesaw will present a comprehensive gamut of features for users interested in managing crypto assets on one of the most prominent blockchains, using peer-to-peer exchanges in a decentralised and open manner.
Moreover, the Seesaw protocol will host an NFT vault and a DeFi swap for users interested in deploying NFTs or exchanging tokens on the platform.
Seesaw Protocol will contribute around 1% of its marketing spend to the Education Fund, which will fund educational institutions worldwide, particularly in underdeveloped countries, to pay for the resources necessary to offer the requisite education.
Additionally, when Seesaw is traded, a portion of the buy and sell fees will be contributed to the Education pot, ensuring a continuous flow of Seesaw tokens into the Education pot.
Additionally, holders of Seesaw tokens will be rewarded for philanthropically donating their tokens to the Education pot.
For users interested in building NFTs or trading NFT tokens on the platform, the Seesaw protocol will also host an NFT vault and a DeFi swap.
SSW is now in its infancy and is likely to evolve into a profitable protocol that handsomely rewards early investors. It has already returned 60x returns to its earliest presale investors.
SSW tokens are now available for purchase on PancakeSwap (CAKE), one of the world's largest cryptocurrency exchanges globally, and on the project's own SeesawSwap on the project's official website. The bulls are pushing SSW to the moon; will you join the league?
To buy SSW tokens: https://swap.seesawprotocol.io/
Website: https://seesawprotocol.io/
Telegram: https://t.me/SEESAWPROTOCOL
Twitter: https://twitter.com/SEESAWPROTOCOL
Instagram: https://www.instagram.com/seesaw.protocol
Disclaimer: The information posted in the article is for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
