Logarithmic Finance is poised for major challenges in the DeFi space as Uniswap and PancakeSwap continue to dominate DeFi markets
Taking over the world of cryptography, decentralized finance (DeFi) allows users to make purchases, transfers and transactions without the need for a third party or administrative documents. Allowing users to be pseudonymous makes it easy and open for anyone to conduct financial transactions.
Established projects such as Uniswap (UNI) and PancakeSwap (CAKE) currently dominate the DeFi markets.
New, including the likes of Logarithmic finance are ready to take on the big challenges of the DeFi space.
The main benefits of using DeFi include:
- Safe and reliable: funds are transferred directly between two users and their wallets only; the funds are not sent to any third parties.
- Global: There are no restrictions on who can transact. You can trade worldwide without any limits or additional fees.
- Pseudonym: no personal information is required during transactions, which gives the user complete financial freedom.
Uniswap (UNI) continues to grow
Uniswap is the largest decentralized protocol running on the Ethereum blockchain and has grown in popularity over time. Trading only ERC20 tokens, UNI is currently the most widely used DeFi protocol in the crypto market. While most exchanges charge fees, Uniswap allows users to trade tokens without the need for intermediaries or fees. Any token can be added to Uniswap by funding it with an equivalent value of ETH.
id=”h31″>How is PancakeSwap (CAKE) different?
One of Uniswap’s biggest competitors, PancakeSwap, is a decentralized exchange built on the Binance Smart Chain. Although it is similar to Uniswap in that it is a DeFi exchange, offering its users financial freedom, PancakeSwap offers more rewards to its users.
For example, if you bet CAKE, you will be rewarded with SYRUP at a ratio of 1:1. By holding SYRUP, users are entitled to 25% of CAKE’s emissions which are distributed proportionally to the holders. This is a great way to attract users to PancakeSwap because users can earn more.
PancakeSwap has various interactive features that allow users to earn money while having fun. For example, users can play the PancakeSwap lottery using the CAKE token. It’s a unique way to make PancakeSwap stand out and build community.
LOG token goes live in presale
Currently in the pre-sale phase, Logarithmic Finance is one of the new decentralized protocols to enter the market. At the time of writing, LOG only supports the Ethereum blockchain, but their development roadmap includes support for multiple blockchains such as Binance Smart Chain, Polygon, Avalanche, Solana, and Tezos.
By having a multi-chain platform, Logarithmic Finance will ensure that tokens can move easily between blockchains. It will also be beneficial for new projects to raise funds on any channel.
Logarithmic Finance (LOG):