DeFi, or decentralised finance, is an idea of foregoing banks and other intermediaries in conducting transactions and allowing people to perform peer-to-peer transactions. It is an idea that has birthed cryptocurrencies and has powered calls to ditch the traditional financial system, which is not exactly a beacon of transparency and security.
From the pioneer in the crypto world, Bitcoin (BTC), to the largest crypto ecosystem, Ethereum (ETH), every crypto asset has banked on integration into DeFi as its ticket to success. DogeMiyagi (MIYAGI), a viral meme coin in presale, has caught the attention of the market with its plans for DeFi as it prepares for launch.
Bitcoin: The Pioneer Crypto
Bitcoin is the first modern cryptocurrency that allows its holders to perform payments without any intermediaries. BTC has grown since its launch to be an asset that dominates the crypto market and is its most accepted asset for payments. DeFi capabilities of the Bitcoin network are led by decentralised exchanges, lending platforms and other financial product platforms on the network.
One of the most promising projects that can boost BTC’s DeFi capabilities is the Lightning Network. The Lightning Network is a layer 2 solution that will make doing transactions on the Bitcoin network faster and cheaper. The development will significantly add to Bitcoin’s capability and will lead to its even wider adoption. The network is also adding capabilities to deploy dApps on its blockchain to maintain its lead in the crypto world.
Ethereum Pushes Ahead to be the Most Powerful Crypto Asset
Ethereum is the most popular crypto ecosystem for DeFi, with its smart contracts capability unmatched by any other digital asset. The network has the largest developer community, which translates into the network having the widest supporting architecture for DeFi.
Uniswap, the largest DEX, is built on the Ethereum blockchain and is a reflection of the DeFi capabilities of the network. Apart from Uniswap, the Ethereum network has many other DeFi platforms that rely on the network’s high-grade security, improved efficiency post its transition to staking, and high scalability. Major DeFi platforms built on the Ethereum network include Aave, the lending platform and MakerDAO.
DogeMiyagi: The Emerging DeFi Champion
DogeMiyagi, a meme coin in presale, has caught the attention of the market with its community-centric development model. The network has stated it plans to be a full DAO after its launch. The project is built on the Ethereum blockchain and thus is DeFi-ready from the get-go.
DogeMiyagi’s Ethereum blockchain backbone is its biggest factor helping in its integration into DeFi. Ethereum network’s smart contract capabilities and the high security, transparency, decentralisation and scalability will make $MIYAGI a top asset in the DeFi space.
DogeMiyagi has stated its goal is to create wealth for its community, and the project hopes a pivot to DeFi will help it realise its goal. The project envisions a utility-driven future for $MIYAGI, one where it will power DogeMiyagi NFTs and be the reward in the network’s daily incentives and the governance token. The network’s integration into DeFi will be realised through the launch of DogeMiyagi NFTs and other dApps on the network’s ecosystem.
Integration into the DeFi system has emerged as the defining factor in the fortunes of cryptocurrencies. Bitcoin and Ethereum are success stories because of their pivot to DeFi. DogeMiyagi will have a strong start in its integration to DeFi owing to its Ethereum blockchain backbone and will help it stand out from other meme coins that use its own blockchain.
Click To Know More About Mr DogeMiyagi:
Website:https://dogemiyagi.com
Twitter:https://twitter.com/_Dogemiyagi_
Telegram:https://t.me/dogemiyagi
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