DeFi Wars: After Terra’s (LUNA) Fall from Glory can Convex Finance (CVX) and Quitriam Finance (QTM) Take the Lead?
This week, the price of the cryptocurrency Terra (LUNA) has continued to fall, making its demise probable. Currently, the coin is trading 99.99% down at $0.01503, according to statistics from CoinMarketCap.
Since TerraUSD (UST), the so-called stablecoin, de-pegging catastrophe, Terra (LUNA) has been plummeting into the darkness.
Conversely, the loss of some is the benefit of others in this situation. Convex Finance (CVX), a prominent DeFi protocol, can break all shackles and soar.
Quitriam Finance (QTM), a new entry that is still in its presale phase, has the potential to destabilise the whole DeFi industry.
Let’s look in-depth at why these coins should be included in your portfolio.
Convex Finance (CVX)
Convex Finance (CRV), a token-based on Ethereum (ETH), drives the Curve Finance network and enables investors and liquidity providers to earn larger returns straightforwardly.
The platform, commonly referred to as Curve.fi, was created as a decentralised exchange platform for exchanging digital assets.
In addition, Curve.fi liquidity providers will be able to collect increased CRV and liquidity mining rewards in CVX form with no deposit or withdrawal fees and no fees on incentive tokens.
CVX stakers can deposit their tokens on the platform, withdraw them at any time, and gain a percentage of the network’s transaction fees.
Convex Finance has no withdrawal costs, unlike other platforms that demand trade fees to pay for gas. Instead, the platform provides stakers and liquidity providers with CVX, the platform’s native coin.
This token has a solid use case and a firm footing in the DeFi industry, allowing it to achieve higher heights in the future, and making it a viable investment at the present price.
Quitriam Finance (QTM)
The Quitriam Finance (QTM) ecosystem consists of a decentralised exchange (DEX), a launchpad incubator, and a combination of the metaverse and non-fungible tokens (NFTs).
Quitriam Finance (QTM) will merge liquidity pools, lending services, and staking services to maximise the liquidity available to users and eliminate the problem of low liquidity, which is a typical issue for DEXs.
As a result of Quitriam Finance’s (QTM) approach to DeFi, many investors are already embracing it.
It is much more valuable, given that it is the first non-custodial decentralised exchange. This implies that investors may engage in safe transactions using the peer-to-peer connectivity and liquidity they initially received.
The whole ecosystem will be managed as a DAO, and community members will be able to vote on QTM platform initiatives.
In the meantime, the loan system will be administered using the QT stable currency since liquidated volatile assets may rapidly lose value. Users will also be compensated in QT tokens for getting interest rates.
Moreover, its multichain access will assist customers when they execute an order that cannot be completed on a platform such as Ethereum (ETH). The QTM website will route the order via an alternative blockchain network, so users do not need to switch platforms.
Currently, the QTM token is in its presale phase, which is an excellent moment to invest and get a return.
Head over to the Quitriam Finance (QTM) site to find out more about this new token, which has great prospects and an ambitious whitepaper.
Meanwhile, invest some amount in Convex Finance (CVX) for diversification and for the potential to make a lot of money on your crypto portfolio.
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