A Short Introduction to DeFi

DeFi or Decentralised Finance is a financial architecture in which no single entity has control. DeFi is the key technology behind Bitcoin and other similar cryptocurrencies. In a DeFi system, several people can hold the records of a transaction. In a way, Decentralised Finance is the extension of blockchain technology as it opens up the door to future DeFi financial products instead of just value transfer.

DeFi is generally faster than a centralised system because no one has to dictate it. There won’t be a need for a singular entity’s approval while making a transaction with DeFi.We previously wrote an article covering DeFi in full, so make sure you read it to fully understand the Etna network innovation.

Decentralized Finance had a slow start, and it took a few years for people to realize the potential of such a sophisticated system. With the demand for faster and smoother applications, the number of DeFi projects has increased significantly.

What's the Future of DeFi?

It's no news that DeFi can replace many of the financial middleware we use today. The total price of goods and services may also change in the coming years if DeFi takes over the market. Many projects are already implementing the DeFi protocol and are ready to take over the market. For example, we are starting to see growth in Flash Lending and NFT (Non Non-Fungible Tokens).

What is a Loan?

Loans are one of the best use cases of the DeFi space and an extension of blockchain technology. They are basically loans that do not require collateral. You don't even have to pass a credit check or perform the usual steps you might have to take when taking a regular loan. The only condition for an express loan is that you have to repay the loan in the same transaction.

The Ethereum blockchain makes the whole concept possible. Express lending basically relies on the flexibility of Ethereum and smart contracts. Think of Ethereum as a platform if you will - a "programmable money" platform.

Why get a DeFi loan instead of a traditional bank loan?

There are many reasons why you should choose a DeFi flash loan over a traditional bank loan. If you need a bank loan, you may have to submit collateral or maintain a decent credit score. DeFi flash loans don't require anything like that. The only requirement of DeFi is that you repay the loan in the same transaction.

For example, if you take out a loan and repay it, you can repay it in the same transaction as ETH. If you don't pay the loan, your transaction will be rejected, and the sender will get the money back. This rule is also referred to as the DeFi protocol. There is no way you can exploit the protocol, and therefore, security is guaranteed by a loan.

NFT Gaming Will Explode in 2021

NFT is already starting to take off and is expected to be a hit in gaming in the years to come. Gaming is really the right space to implement NFT. The gaming industry is estimated to be worth $138 billion in 2021 where most of the revenue stream comes from gamers to companies.

What's the Future of DeFi?

In-game NFT refers to a smarter and financially savvy way for gamers to exchange goods. Imagine being the real owner of your in-game items, being able to sell your character on ETNA NETWORK or your sword collection in Assassins Creed. Well, as we start seeing more and more games, you'll probably see projects like this on the market soon.

ETNA Features

• ETNA is an ecosystem for DeFi, NFTs, and gaming, which makes it easy for users to borrow/loan crypto assets, trade game assets and NFTs, or other things from one platform safely and easily. Launched on the Binance Smart Chain platform, ETNA will provide users with a fast, efficient, secure, and lower-cost platform. Following are the features of ETNA:

• DeBank: Lending/borrowing platform that allows users to get loans with NFTs as collateral. And for ETNA holders, they will get the opportunity to borrow without interest.

• Hybrid Marketplace: A platform that makes it easy for users to trade multiple crypto assets without the need to have multiple crypto wallets. This platform is a combination of the conventional liquidity DEX protocol and a Broker-Buyer type trading mechanism.

• NFT Marketplace: On this platform, digital art creators and collectors can gather together. Users can trade their game assets or NFT tokens on the marketplace provided by ETNA.
  Gaming Ecosystem: The gaming Ecosystem allows seamless integration of conventional games on the blockchain and game asset digitization mechanisms. Here users can access tournaments, live global gaming events, or compete with other users virtually.

ETNA Token

ETNA is a native token that will serve as a utility token. Since it is a utility token, it means that users can use the ETNA token for various things such as fees or payments on the platform. The advantage of having ETNA tokens is that by having ETNA tokens users can get the opportunity to borrow without interest and users can stake their ETNA tokens to get passive income. ETNA was launched on the Binance BEP-20 platform with a total supply of 100,000,000 ETNA and can be purchased on PancakeSwap.

ETNA Roadmap

Official resources of the ETNA Network project:

Website: https://www.etna.network/
Whitepaper: https://www.etna.network/assets/ETNA.pdf
Twitter: https://twitter.com/EtnaNetwork
Telegram group: https://t.me/EtnaNetwork
Telegram channel: https://t.me/EtnaChannel
Discord: https://discord.com/invite/dbuEXdm
Youtube: https://www.youtube.com/channel/UCgkP_qjdYSZ8iesrz5kK0Y

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