Even though the crypto market as a whole is going down and social media is full of worries and complaints, some people are focusing on what the future holds for decentralized finance (DeFi).
Popular Rub9075 asked people in a DeFi subreddit what they would like to see more of in the DeFi world. Even though people often say bad things on social media, the Redditor thinks that when the market is down, it is a “wonderful time” to look at projects that have potential.
Crumbedsausage, a Reddit user, said in response to the discussion that he would like to see more non-custodial Liquid Ether (ETH) staking projects. Also, the Redditor said that running an Ethereum node with “1 ETH or less” could help with decentralization and make a good amount of money each year.
A different user, Geistirnd, said that they believe in the potential of privacy-focused DeFi initiatives. The Redditor said that giving DeFi users more privacy options would make “more people use DeFi.” On the other hand, one member of the thread talked about yield making and said that everyone is looking for new ways to “make some money.”
Binance Labs has also released the fifth version of its Most Valuable Builder (MVB) program, which helps innovative DeFi projects get off the ground. On the fifth wave of MVB, Binance Labs and BNB Chain worked together.
Bitfrost, a decentralized cross-chain liquidity provider, updated its Slot Liquidity Auction Protocol on Friday. With this system, the project trades staked tokens for tokens that represent liquid derivatives. People who have staked their coins can use these tokens anywhere in DeFi. This takes away the opportunity cost.