DeFi, an abbreviation for Decentralized Finance, defines the performance of financial services without the need for intermediaries such as banks or other institutions, driving the growth of cryptocurrencies.
The term includes the various financial applications that use cryptoassets or blockchain technology to solve existing problems in the conventional financial system. In other words, DeFi reduces fees, obstacles, and intermediaries in pursuit of high returns.
DeFi, which runs over the Ethereum network (which has even undergone an upgrade to increase its capacity), allows users to make loans, send payments, make exchanges and trading, receive income, among other possibilities.
Because of this revolutionary feature, DeFi has attracted many enthusiasts who believe in technology. Do you want to check out some impressive figures? So continue reading our post!
DeFi in numbers
- US$ 100 billion
This is the estimated amount allocated in the various Ethereum 2.0 protocols, demonstrating the potential of decentralized finance.
2. More than 106 million users
In January, a report from Crypto.com showed that the cryptoassets market has at least 106 million users. In the first month of the year alone, the growth was 15.7%.
3. 2,300% growth
According to Binance Research, in 2020, the growth of DeFi was 2,300%, taking this new concept to one trillion users. The survey, which aimed to understand the profile of crypto assets investors, showed that 66% of respondents, especially those located in Southeast Asia, already use DeFis services.
4. US$ 9,461 to live a year in São Paulo
This is the amount a person from São Paulo needs to invest to guarantee an average monthly income in line with living in the most expensive capital city in the country. For the calculation, it was considered the estimate of monthly expenses of about R$ 3.500,00.
5. High up to 475,000%
Over the past three years, the crypto market segment has delivered highs of up to 475,000%. Bitcoin, for example, has been the asset that turned ordinary people into millionaires over the past ten years, with a dollar valuation of 7,600,000% over the period.
6. US$ 86 million in security frauds
About US$ 86 million was stolen from decentralized finance projects in the first quarter of 2021, according to a study by Atlas VPN. According to the company, the total amount lost by users to frauds in the year already reaches US$ 108.3 million.