HachiFi (HACHI) and Aave (AAVE)
You see, many experts have referred to cryptocurrencies as the new stocks. Today, traders can buy the tokens of a decentralized platform and tap into the project’s many benefits.
You’ll be surprised to find that there are many categories of crypto protocols on the coin market. A popular category of cryptocurrencies is decentralized finance. Decentralized Finance projects foster anonymity and decentralized transactions, i.e. transactions that do not require any intermediary. These protocols are designed to help facilitate trading without mediators. If you are interested in decentralized finance, we’d be looking at two crypto tokens that are worth a buy, HachiFi (HACHI) and Aave (AAVE).
Let’s start with;
Aave (AAVE)
Aave is a decentralized lending pool that aids lending and borrowing without the need for intermediaries. Aave protocol facilitates the lending and borrowing of crypto tokens and other real-world assets.
Traditionally, we’d need a bank to get a loan. The bank requires you to drop some form of collateral, and then you’d have to return the money with the levied interest. Aave is not a bank. Instead, Aave utilises codes—known as smart contracts—to facilitate lending and borrowing activities. Aave allows users to borrow money from other users. Nonetheless, they still need to tender a form of collateral. But nothing like what’s demanded by banks.
Aave relies on an over-collateralization system. Why? Crypto altcoins prices are highly volatile. In the case that the price of an asset plummets, the protocol can easily cover up for it. Aside from crypto lending, users can also borrow real-world assets. Aave partners with Centrifuge to tokenize certain aspects of physical businesses’ operations. These tokenized assets function similarly to bonds and yield interests.
AAVE tokens can be staked as collateral, borrowed, and also serve as a governance token. When users stake their AAVE tokens as collateral, they can increase their borrowing limit and also get discounted fees. Plus, the token can also be used for voting. Considering its market capitalization, AAVE is one of the biggest DeFi coins.
HachiFi (HACHI)
HachiFi was designed to resemble the Tamagotchi Platform. Tamagotchi is a Japanese electronic toy. The platform projects an animal which needs care and love from its owner. The owner is expected to treat the electronic toy like a real one. HachiFi was derived from two words, HACHI and DeFi. HACHI is a wordplay on the word ‘hatch’, which also means ‘eight’ in Japanese, and ‘DeFi’ which is the acronym for decentralized finance.
HachiFi is a Layer-III protocol that offers a wide range of decentralized opportunities. The protocol enables participants to invest and earn passive income from diverse DeFi opportunities. With HachiFi, users can participate in decentralized finance, non-fungible tokens, and the metaverse spaces.
In order to facilitate better collaboration, the HachiFi team will be launching a decentralized platform. With this platform, users can stake and store tokens. HACHI token is the native token of the HachiFi protocol. HACHI token was created to foster financial inclusion and increase the wide adoption of decentralized finance globally. The token will power the ecosystem and serve a variety of functions. HACHI token holders can receive staking rewards, enjoy discounted swap fees, and pay for exchange fees. It will also facilitate peer-to-peer (P2P) transactions, keep an NFT pet, and pay for swap fees.
Another interesting thing to note about the HachiFi platform is the merger of NFTs and yield farming. The HachiFi NFT platform will resemble farmland where farmers rear all kinds of domestic animals. These domestic animals such as pigs, cows, cats, dogs, sheep, and ducks. With HachiFi, users can breed and farm NFT. Users will receive these NFT livestock by staking their HACHI Token.
HachiFi is the first to introduce decentralized NFT farming. It is expected that this platform’s concept will receive wild demand for its uniqueness.
HachiFi (HACHI)
Website: http://hachifi.com/
