Hey DEFI TIMES community,
On Monday, you learned about Ocean Protocol. The project tokenizes data on the blockchain. Data is the most valuable resource on the internet. Companies like Facebook are worth trillions of dollars just because they own and sell your data.
Blockchain technologies give your data liquid value. Suddenly, you can trade your data on exchanges, pay your bills with it, and lend it to someone else.
This is just the beginning. We will see the tokenization of many more things in the future. Everything of value will be tradeable on the internet: data, property, licenses, equity, and debt are just a few well-known examples.
Here is where it gets interesting: imagine buying Apple stock and putting it on Uniswap as a liquidity provider. You will earn twice as much as before: dividends and trading fees.
Once you tokenize anything, it will immediately become more valuable because it can be used in the decentralized financial ecosystem.
You could potentially put your property in a Maker vault and take out a loan. Isn't this easier than visiting a commercial bank?
This is so mind-blowingly easy that I expect everything of value to be tokenized over the next 20 years.
Once we solved the scaling problems, there will be no reason to use the old financial system anymore.
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Shapeshift has announced that it is going to launch a token. The name of the token will be "FOX".
Shapeshift is also going to pivot to a DEX model, which will allow Shapeshift to drop KYC and AML implementations.
uGas by YAM Finance
uGAS is live at degenerative.finance. It is a speculative gas token, allowing you to hedge against high gas prices.
AaveGotchi + Matic
Aave Gotchi has announced that it is using Matic Network in order to scale.
Synthetic L2 launch
Optimism @optimismPBCHAPPY NEW YEAR! Here's a review of our accomplishments in 2020 and a final win to wrap up the year: https://t.co/CWcyLIoZOL
Synthetix will be the first project to use Optimism's rollup technology. The launch will be on January 15th, which will include upgrade keys and withdrawal monitoring. The community release is planned for mid-March.
After the recent Cover hack, the protocol launched a new token. Affected users are now able to claim their tokens.
All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.
Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.