When the boom in decentralized finance seems to have no end in sight, the world’s leading companies and organizations are trying to capitalize on the DeFi fever. And among the companies most committed to them from the beginning is Binance. Increasing its commitment to them now that Binance bets on the DeFi with Binance Liquid Swap.
DeFi: What do the experts think about decentralized finance?
DeFi and crypto companies
During the last three months, the DeFi sector has experienced the greatest boom in its history, increasing its value exponentially in just a few weeks. This does not mean that decentralized finance is unknown in the crypto world. On the contrary, different projects related to DeFi have been developed for several years. These promised that they would be the future of the world’s financial system.
Of course, this raised doubts among many crypto users, who saw in the DeFi a series of projects that would never achieve real results. However, a group of companies were able to foresee the direction that decentralized finance would take. And since last year they had been working on their own integration into the sector.
The Tron Foundation and Binance were the two organizations that had the greatest confidence in decentralized finance from the beginning. This has allowed them to position themselves to take advantage of the benefits of the DeFi fever. Including them in their products, or as in the case of Tron with JUST and now Binance with Liquid Swap, creating their own DeFi projects.
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Binance Liquid Swap
Therefore, Binance Liquid Swap is just the natural result of the policy Binance has followed regarding DeFi in the last months. This includes the integration of dozens of DeFi tokens to the exchange, the possibility of staking DeFi from its platform, and Binance Labs‘ investments in the sector.
However, none of these steps had been as direct as Bitcoin Millionaire Liquid Swap. This product, recently announced by Binance, will allow users of the platform to make automatic exchanges between two crypto currencies, faster and with lower commissions than in the traditional exchange.
Users can deposit any of the three currencies available for swap, USDT, BUSD and DAI in a Binance Liquid Swap pool. The amount of each currency in the three pools will determine the exchange rate between them automatically.
Thanks to this, the person who wants to make a swap between these three tokens will be able to take advantage of the existence of these pools to make the exchange immediately. While those who contribute to the pools will receive, in exchange for their staking, commissions for the swap operations performed. Therefore, Binance Liquid Swap is the first pure DeFi product that offers the exchange for the benefit of its users.