Kresus, a leading platform for decentralized finance (DeFi) on Polygon, has announced the launch of its curated marketplace for Polygon projects. The marketplace aims to provide users with a one-stop shop for discovering and accessing the best DeFi products and services on the Polygon network.
The marketplace features a selection of vetted and verified projects that have passed Kresus’ rigorous standards of quality, security, and innovation. Users can browse through different categories such as lending, borrowing, trading, staking, NFTs, gaming, and more. Each project has a detailed profile page that showcases its features, benefits, risks, and performance metrics. Users can also access the project’s website, social media channels, documentation, and smart contracts directly from the marketplace.
The marketplace also offers users the opportunity to earn rewards by participating in various activities such as liquidity mining, yield farming, governance voting, and referrals. Users can stake their Kresus tokens (KRS) to earn passive income from the platform’s fees and revenue streams. Additionally, users can vote on the inclusion or exclusion of projects in the marketplace, as well as other governance proposals that affect the platform’s development and direction.
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Kresus’ curated marketplace for Polygon projects is designed to enhance the user experience and foster the growth of the Polygon ecosystem. By providing users with a trusted and convenient way to access the best DeFi products and services on Polygon, Kresus hopes to increase adoption, innovation, and collaboration among the Polygon community.
Kresus is a platform that enables users to access various DeFi protocols on Polygon with ease and efficiency. Kresus leverages Polygon’s fast and low-cost transactions to offer users a seamless and frictionless DeFi experience. Kresus also integrates with other popular DeFi platforms such as Aave, Curve, SushiSwap, Uniswap, and more. Kresus aims to become the ultimate DeFi hub for Polygon users and developers.
The total value locked (TVL) in decentralized finance (DeFi) protocols has dropped to its lowest level since February 2021, according to data from DeFi Pulse. The TVL, which measures the amount of crypto assets locked in various DeFi platforms, fell below $60 billion on August 25, 2021, a decline of more than 50% from its peak of over $120 billion in May 2021.
The sharp drop in TVL can be attributed to several factors, including the bearish sentiment in the crypto market, the regulatory crackdown on DeFi activities in some countries, and the emergence of new competitors in the DeFi space. Some of the major DeFi protocols that have seen significant losses in TVL include Maker, Aave, Compound, Uniswap, and Curve.
Despite the slump in TVL, some analysts and industry experts remain optimistic about the long-term potential of DeFi. They argue that DeFi offers a more transparent, efficient, and inclusive alternative to traditional finance, and that the current challenges are temporary and will be overcome by innovation and adoption. They also point out that DeFi still accounts for a significant share of the overall crypto market cap, and that the growth of DeFi users and transactions has not slowed down.
In fact, some DeFi projects have managed to increase their TVL and market share amid the downturn. For instance, Polygon, a layer-2 scaling solution for Ethereum, has seen its TVL surge from $1 billion in April 2021 to over $5 billion in August 2021, thanks to its low fees and fast transactions. Similarly, Terra, a blockchain platform that supports stablecoins and synthetic assets, has grown its TVL from $2 billion in June 2021 to over $7 billion in August 2021, driven by its popular savings protocol Anchor and its algorithmic stablecoin UST.
As the crypto market recovers and matures, DeFi is expected to regain its momentum and continue to innovate and disrupt the financial sector. According to a report by Deloitte, DeFi could become a “truly open, transparent, and immutable” financial system that could “create a more inclusive and democratized economy”. The report also predicts that DeFi could reach a TVL of $800 billion by 2025, representing a compound annual growth rate of 50%.