While the broader cryptocurrency market is in a downward spiral and social media is rife with fears and complaints, some are choosing to focus on the potential of the decentralized finance (DeFi) space for the future.
On a DeFi subreddit, Redditor Popular_Rub9075 asked members of the community what they wanted to see more of in the DeFi space. According to the Redditor, while negative discussions are prevalent on social channels, it’s a “great time” to look for projects that have potential while the market is down.
In response to the thread, Reddit user Crumbedsausage said he wants to see more non-custodial liquid Ether (ETH) staking projects. Additionally, the Redditor said that being able to run an Ethereum node with “1 ETH or less” can be good for decentralization and provide realistic APRs.
Apart of this, another user named Geistirnd noted that he believes in the potential of DeFi projects that focus on privacy. According to the Redditor, providing more privacy options to DeFi users will be a catalyst for “greater DeFi adoption.” On the other hand, one of the thread participants also brought up earning returns, noting that everyone wants new ways to “get some profit.”
Meanwhile, Binance Labs has announced that it will launch the fifth iteration of its Most Valuable Builder (MVB) program, its incubation platform that supports new DeFi projects. MVB Round 5 is a collaborative effort between Binance Labs and BNB Chain.
In other news, Bitfrost, a decentralized provider of cross-chain liquidity, launched an updated slot liquidity auction protocol on Friday. With this, the project provides derivative liquid tokens in exchange for staked tokens. These tokens can be used throughout DeFi, removing the opportunity cost for users who staked their coins.
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