DeFi - Afrikan Heroes

DeFi is Getting Re-DeFined with Logarithmic Finance, Ripple and Fantom

May 4, 2022

DeFi is the height of cryptocurrency, as a novel application, it is being said among cryptocurrency buffs that DeFi is the replacement of traditional banking, and the truth is, how can you not believe that?

Pioneering borderless payment, using the blockchain and bypassing gatekeepers through the use of the blockchain. DeFi has moved from being a cryptocurrency thing to being a real contender and an example of what banking can be.

Since Decentralised Finance (DeFi) is based on secure distributed ledgers which are akin to the systems used by cryptocurrencies, it can bypass Central Banks and other institutions that serve as barriers in the traditional banking system. There are a lot of entrants into the DeFi space, including tokens like Ripple and Fantom, these tokens were some of DeFi’s frontrunners, however, DeFi is getting re-DeFi’ned. Logarithmic Finance is set to become a big name.

Ripple (XRP)

Coming into the cryptocurrency space in the year 2013, Ripple (XRP) had the advantage of early entry. It fell quickly into contention and rose into the top ten of all cryptocurrencies in the world by the end of the year. It has since then gone on to make great gains, however, a few shadows follow Ripple (XRP). The organisation behind it was locked in a legal stalemate for the better part of 2021, the class action filed in December of 2020 stagnated the all-time high of Ripple at $3.84.

Fantom (FTM)

Fantom is another of DeFi’s hot tokens, at $1.07 per token, Fantom (FTM) is outside of the crypto top 10 by the ranking of Market Capitalization. Fantom (FTM) uses the proof of stake method of validation and it has been stated by some as the most suitable replacement for Ethereum (ETH). This is a high goal that it is yet to live up to despite having spent ample time in the market.

The light, scalable nature of Fantom (FTM) makes it a token to reckon with. This token is quite established now. Perhaps its time for a fresh face, Logarithmic Finance.

Logarithmic Finance (LOG)

Logarithmic Finance (LOG) comes packed with promise. It is a layer-3 switching protocol that intends to deliver the moving of financial assets at ease across borders, blockchains and languages. Logarithmic Finance (LOG) will boast a cross and multichain system that will allow financial assets to be generated and moved across any major blockchain network that will include the Ethereum (ETH), BNB Chain, Polygon (MATIC), Solana (SOL), and Avalanche (AVAX) ecosystems.

This singular use case, when implemented will be a potential winning principal that will push Logarithmic Finance to the forefront of DeFi. At the moment, the code of the project is in the works and is being reviewed independently by Certik. Logarithmic Finance (LOG) is also interoperable and open source, with a public-driven and highly spirited drive towards overall development, the coin has a lot of potential.

The mass adoption from the prelaunch state means that there should be enough investors holding the coin by the time it goes public. This will drive appeal, access and use cases as others will be willing to use it too. This could circumnavigate the issues that Fantom (FTM) is currently facing.

With all of these promises, it is an absolute steal to have Logarithmic Finance (LOG) at a locked presale of $0.10. The potential truth is that at no other time will the Logarithmic Finance (LOG) cryptocurrency be cheaper than it is today. Everything is in place, DeFi is going to see a massive shift and Logarithmic Finance (LOG) looks like it could be the centre of it.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Togo Is The Number One In Africa In DeFi Adoption — Chainalysis

September 13, 2021

Togo is Africa’s king of crypto and decentralized finance (Decentralized Finance or DeFi). The Chainalysis organization, which is known for its global indices in the field, has disclosed this in its latest report. The West African country has shone once more in the DeFi study, after being ranked third in Africa and ninth globally in the 2021 Chainalysis Crypto Adoption Index.

It is, in fact, the only African country among the top 20. It is also one of the few representatives of emerging markets, with established economies such as the United States, China, and Russia dominating the rankings. A situation that contrasts with the one in which these great nations are lagging behind on crypto adoption.

The 2021 Chainalysis DeFi Adoption Index calculates metrics based on on-chain cryptocurrency value received by PPP-weighted DeFi platforms per population, total retail value received by DeFi platforms, and individual DeFi platform deposits. The index also reflects the growing importance of institutional investors in the DeFi market.

The DeFi Adoption Index, like its 2021 crypto adoption index, is intended to emphasize countries with the strongest grassroots adoption by individuals rather than those sending the biggest raw value of cash.

Emerging markets are driving cryptocurrency adoption, according to Chainalysis, with individuals resorting to them out of necessity.

DeFi adoption, on the other hand, has been predominantly driven by experienced cryptocurrency traders and investors looking for fresh sources of alpha, despite the fact that the index is weighted to encourage grassroots adoption.

DeFi Africa Togo DeFi Africa Togo

New Nigerian VC Firm, Tekedia Capital, Leads A $1m Funding Round In Ecommerce Enabler, OurPass

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

Binance Labs–Backed ‘DeFi Credit Union’ Bringing Higher Yields to Savers in Nigeria

November 4, 2020

The Nigeria-based startup Binance Labs is looking to bring decentralized finance (DeFi) to the world of credit unions. Built on the Binance Smart Chain, Xend Finance announced its public launch and a $1.5 million strategic funding round early this week. Aronu Ugochukwu, Xend CEO said that “a major problem faced by these credit unions or cooperatives is a constant devaluation of the currency, because most of the time our economy is unstable.” With backing from Binance Labs, Google Launchpad, AU21 Capital, TRG Capital, Matic co-founder Sandeep Nailwal and others, Xend aims for financial inclusion in the developing world by converting deposits into crypto and harvesting yield on DeFi platforms like Compound and Aave.

The protocol also allows users to create their own credit unions and cooperatives, eliminating traditional middlemen. “Traditional credit unions have a number of limiting drawbacks,” said Ugochukwu, “including only 1% annual percentage yield returns and geographical limitations.” By contrast, a press statement touted as much as 15% APY on Xend users’ savings. By tapping into DeFi, small savers can stake their local currency and earn compounded interest in a stable currency, Ugochukwu said, like the U.S. dollar.

The platform has already received $1,000 from one local cooperative to help onboard five of its members, including a group of doctors at the University of Nigeria Teaching Hospital (UNTH). Xend, a traditional fintech company and parent company of Xend Finance, has already built a network of 55,000 users which Ugochukwu hopes to bring over to the new DeFi platform.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry