Decentralized Finance(DeFi) is an ever-growing trend in the crypto market. To meet this trend in the right way, the arrival of the smart platforms turned the traditional financial market into a crypto market with a decentralized nature.
The total value of the financial derivatives is estimated to be 10X greater than the GDP value. This growth is very impressive in nature and this brings new DeFi startups into the market. Being aware of the top trends that govern the crypto market is essential for new startups.
This blog organizes the top essential trends that govern your cryptomarket accurately. Take a look at these trends and make your DeFi services up front in the market. At first, a glance at DeFi and its stats is an important thing. Let’s move on to the blog to know in detail.
DeFi Stats to Know
- The Total Value Locked for the DeFi platform is 227.8 bn USD. The number of users of DeFi with unique addresses is 4.5 million and the overall Ethereum market share in overall DeFi is 54.2%.
- In the final stage of 2020, there is a jump of 600 BTC to 124,000 BTC. The conversion of ETH into WETH is over 5%. Around 5.5 million WETH is created by the end of 2020.
- The average fee for the transaction is rising at the end of 2020. The fee limit for the transaction is 69 USD per transaction in May 2021.
- Around July 2020, the TVL attains 4 million USD and it increases to 250 million TVL in 2021. In February 2022, the TVL value was increased to 500 million USD.
- Gamers in the world spend 159 bn USD each year. With this spending volume, the overall number increases to 256 bn USD in 2025.
- Creation and investing in digital assets are observed among 62% of gamers and 82% of developers.
- Upon observing DEXs, Sushiswap collectively makes 68% of trading volume on DEX platforms.
These statistics are proof of DEXs utilization in the crypto market. After knowing these, many of them show their interest to launch their own DeFi. Prior to entering, it is necessary to know the top trends to bring your DEX into the front in the market.
DeFi Trends Governing Crypto Startups
Crypto startups are getting into a new dimension after the DeFi introduction. Several trends govern your crypto startups and turn them into revenue-generating ones. Let’s know them in detail.
Social Tokens
These tokens are normally defined as the creator tokens that they make to monetize them effectively. The mutual relationship between the creators and the fans needs without any intermediaries. The brands or clubs issue the fan tokens correspondingly accelerates the community engagement beyond the expectation.
DeFI Governance Tokens
Governance tokens are the next trend in crypto asset management by the protocols. The token holders have the whole right to take the initiative in the protocol’s process. Starting governance tokens with the introduction of MakerDAO tokens. Familiar tokens are curve finance, UniSwap, Compound, Aave, Yearn Finance, and MakerDAO. From the governance tokens, the TVL accumulation is between 4 to 18 bn.
Stablecoins
Most of the stable coins are associated with cryptocurrency collaterals. This high-quality collateral enables the minting of stablecoins. With this new trend, the price stability gets improved.
Cross-Chain DeFi Technologies
The evolution of cross-chain DeFi technologies facilitates smart contract transactions on multiple chains. The cross-chain system acts as the base layer for many blockchains to facilitate interoperability and communication among the chains.
Derivative Markets
They are the financial securities or the contracts that allow anyone to create and manage the derivatives in a transparent way. Synthetix is a platform that allows users to create and manage decentralized assets effectively.
Metaverse
The Crypto space is expected to see adoption and investments in the crypto industry. The setup of shops in Metaverse platforms brings a new look to the stores. Already, the fashion giants like to utilize this trend accurately. Acquisition of Microsoft and the game makers see the future of metaverse on a large scale
Crypto ETFs
Exchange-Traded Funds allow the investors to access diversified assets. Making crypto assets through crypto ETFs is easily accessible in nature. From 2021, the launch of crypto futures such as ETFs, ProShares Bitcoin Strategy ETF. This quickly gained asset management.
To cope with the above-listed trends accurately, the design of the DeFi platform must be superior. Prior to designing, some of the tips you must be aware of.
Tips to Make Your DeFi Design As Top-Notch
Allow Feedback When Errors
Let’s assume your users have a problem with the transaction. The immediate intimation of this issue to your clients allows you to get the user’s attention quickly.
Hold Tokens for Gas Fees
For every transaction, users are requested to pay the commission. This is simply defined as the gas fees. Reminders of this to traders allow them to pay the fee easily.
Multi-Currency as Tooltip
Adding the separate function in the currency option in the app platform displays the equivalent dollar. This allows the traders to select the currency based on requirements with this option.
Multi-Tokens At Once
By adding several bars to the screen and turning their appearances simultaneously. This makes the users able to approve more assets at once.
Let’s Create a DeFi Platform
The DeFi industry is a growing and evolving one. Creating a new product should meet the trends. The latest DeFi trends for 2022 listed in this blog are more. 8-bit design, futurism and fun, dark backgrounds, and bright colors are the prominent trends.
Employing these trends in the development of the DeFi platform elevates crypto projects to a new scale. Let’s dive into DeFi development.
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