Taking stock of what other opportunities there are for DeFi lossless mining in the current popular public chains

Three minutes a day to take a look at the world of cryptocurrency!

It took DeFi only 2 years to go from being an obscure “poor kid” to the “leader” of the industry’s segment.

Even though the overall cryptocurrency market is currently weak and DeFi’s market has weakened with the wind, it is still the most “beautiful” kid in the cryptocurrency industry.

Taking stock of what other opportunities there are for DeFi lossless mining in the current popular public chains

As for the combing of DeFi basic concepts and the 4 prerequisites to participate in DeFi mining, Whitezer Institute is also taking you through some of them, and you can review the previous articles for details.

Review the prerequisites for participating in DeFi mining.

  1. Security of the project
  2. The degree of value preservation of the mined assets
  3. The degree of value retention of mining coins
  4. Improve self-judgment and establish your own mining system.

Review the concept of DeFi mining.

Mining in DeFi is actually quite easy to understand with a different mindset. When a DeFi project is just launched, the most missing thing is liquidity and cryptocurrency deposits, then I send a project token, anyone who comes to me to deposit a locked position can be rewarded with tokens, this is the most basic mining in DeFi – liquidity mining. This will attract more funds to the project and encourage users to provide liquidity, thus gaining users, traffic and funds early in the project, making the project burst forth in its infancy. But liquidity mining often faces the risk of unpaid losses.

And about today’s main character , as the name suggests, that is, no-loss mining, usually refers to the use of a single coin mining, such as using Bitcoin (BTC), Ether (ETH), stablecoin (USDT) and other certain tokens to mine, and such tokens are preferably held for a long time, if the number of coins is used as the principal, then the principal of no-loss mining will not be reduced, yet can be mined The DeFi project’s mined coins can be described as “white whoring”.

In the DeFi world, the best developed public chains are the following

Ether (ETH) – the early “revolutionary base” of DeFi, where a single spark can start a prairie

BSC (BSC) – the constant “blood transfusion” from the BSC exchange

Heco – started in the heyday of DeFi

Solana – the best looking kid in the bull market, holding hackathons to keep feeding quality projects to the chain

Avalanche – an up-and-comer with a promising future

OkexChain – the main network has been delayed again and again, but there is still a continuous “blood transfusion” from the exchange in the future

Here, Baisawa will not summarize the income of DeFi projects of ethereum public chain, after all, most of them are meta-level projects, and the transaction cost on the chain is too high, which is not conducive to the movement of small funds.

So, next, the Whitezer Institute will do a more systematic DeFi mining compilation of each chain for BSC, Heco, Solana, Acalanche and OkexChain public chains, weighing each project’s safety and revenue level, to help you de-mine and quickly integrate into the DeFi mining circle.

I. Coinan Smart Chain (BSC)

According to Bscprogect’s data, the total locked position of DeFi on the Coinan Smart Chain is currently $17.8 billion, accounting for about 10% of the total locked position of the entire network.

II. Firecoin Ecosystem Chain (Heco)

According to DeFiBox’s data, the total locked position of DeFi on the Firecoin Ecosystem Chain is currently $5.02 billion, accounting for about 5% of the total locked position of DeFi on the whole network.

Third, Solana (Solana)

According to Defillama’s data, the total locked position of DeFi on the Solana public chain is currently $520 million, which is about $900 million less than the peak.

IV. Avalanche Avalanche

According to Defillama, the total DeFi lock position on Avalanche is currently just $20 million, about $300 million less than the peak.

V. OkexChain

The late launch of the main OkexChain website has led to a number of projects that were originally premiered on Ok jumping ship to other chains, which is something Ok Chain has been criticized for. At present, there are only a few projects available for you to experience, the revenue is not high, and there is no single coin lossless mining

Summing up.

Today DeFi still occupies a lot of space in the blockchain industry, and its different closed-loop economic model can not only bring users a decentralized financial service experience, but also allow them to profit from it. DeFi is modernizing financial services, and as a Harvard professor has said, DeFi has the potential to land next to you and me in the future.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/taking-stock-of-what-other-opportunities-there-are-for-defi-lossless-mining-in-the-current-popular-public-chains/
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