DeFi was created to make it easy for the unbanked masses to access financial services. Today, some of the leading projects in this sector are Maker and Pancakeswap.
Pancakeswap is a decentralized exchange (DEX) that allows users to buy and sell tokens from each other while providing liquidity via farming. In exchange, farmers receive rewards. Since its launch in September 2020 on the Binance Smart Chain, it has gone on to be wildly successful. It was designed to be a direct competitor to Uniswap on an alternative blockchain, with better rates and faster speeds.
There are numerous opportunities for profitability on Pancakeswap. One of the first opportunities is via providing liquidity. You invest in a liquidity pool and are paid in CAKE tokens. These tokens can be used in various ways to earn a profit.
One way to use CAKE is to trade them. Simply buy and sell them as their price waxes and wanes to make money. Another option is via yield farming. This can offer potentially large rewards. To earn via yield farming, you have to lock up tokens to receive rewards in CAKE. The process requires an investment of time and money but using the platform is relatively easy. Simply visit the Farms tab on the sidebar, and begin farming.
The other option is to stake your CAKE tokens in SYRUP pools. Doing so allows you to earn rewards from your assets. Once you stake, the tokens have to be locked up for a fixed time. It is an easy way to make a passive income from crypto.
Another notable DeFi project is Maker. It is a crypto lender and a pioneer in the DeFi sector. Maker relies on smart contracts to make loans using the DAI stablecoin. Many people in the crypto world closely watch MakerDAO, the organization that manages Maker. Its goal is to make it as easy as possible to access Maker and mint the decentralized stablecoin DAI, which it has done well so far.
Oryen Network is a Great Alternative
Pancakeswap and Maker have done an excellent job of making DeFi accessible to the masses. However, they can still be too complex for newbies. They require users to understand yield farming and smart contracts to begin navigating them.
With Oryen Network, no such advanced knowledge is needed. One way it simplifies access to DeFi is via a fixed APY of 90%. With a fixed APY, anyone can easily calculate what one will make once they stake their tokens. They do not need to pull out their calculator and engage in prolonged calculations to determine if an investment is worth it.
The process also makes the staking process quite easy. Users do not need to move their tokens in and out of various wallet addresses. The tokens begin earning rewards by simply being in the Risk-Free Value wallet. That is a huge step up from what is offered in the DeFi world.
Oryen Network is a project determined to make DeFi accessible to the masses. Thus far, its value proposition has won over the hearts and minds of those who have come across it. As a result, its native token, $ORY, has risen in price by 120% rapidly.
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Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.