DeFi Confidence Returning as Ethereum Deposits Surge
Defipulse has also reported that the total Ethereum locked level is approaching 3 million ETH once again although it is down around 10% from its peak last month. Total value locked in USD largely depends on the price of Ethereum at the time, at the moment it is around $972 million. Russo went on to report that DeFi trading platform dYdX is introducing trading fees starting on March 10. Taker fees will range between 0.05% and 0.5% of trade volume, depending on trading pair and order size while makers will pay no fees. Instadapp to Simplify DeFi It was also reported that mainstream centric banking portal, Instadapp, has just launched a platform to simplify all things DeFi called Smart Accounts. According to company spokesperson the new platform will serve as a “single point of integration to access all the DeFi protocols,” The majority of users at the moment rely on their wallets to interact with DeFi platforms but Smart Accounts aims to give users the ability to simplify what is complex and unify what is disparate in the DeFi sector. The specifics are all detailed in the company blog which added for DeFi to go mainstream there has to be improvements to the user experience. Will 2020 be the year for Ethereum based DeFi? Add your comments below.
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