Globalization and liberalization in the 1990s changed the divided global economy into what was to become a single market, thus, making our global economy a hustling global village with free movement of capital, freedom of establishment and freedom of services.
Similarly, Blockchain and cryptocurrencies bring a revolution to democratize the global economy as DeFi carves the path for it.
Why does the world need DeFi?
Finance has always been that focal point of the society that can drive the prosperity of all by enabling great ideas to become a reality. But during the entire history of humanity, the power in finance has been mostly centralized leaving most people out of decision-making systems with little to no control of their own money.
Today, we need tools that will enable each individual to take control of their assets and make decisions regarding them. Decentralized Finance with its core protocols of interoperability, programmability and composability will not only make finance more personal and accessible but will also enable people from across the globe to collaborate and come up with new ways of creating value.
Bithumb Global recognizes this power of DeFi ecosystem to bring the services of investing, borrowing, lending and trading on decentralized and non-custodial infrastructure to make finance more inclusive and democratic.
How Bithumb Global is Supporting the Development of DeFi industry?
At Bithumb Global we are fully supporting and contributing to the rapid growth of decentralized finance space, the improvement of its protocols, and the breadth of offered services.
We strive to work towards creating opportunities to provide users with the options lacking in the existing centralized financial system. We support the launch of a variety of DeFi projects, derivatives (Smart Token and margin trading).
Bithumb global also regularly stakes interest in debut project announcements, user airdrops (BG Learning), among others. We also vigorously mediate the project publicity and community operation services such as the well-known DeFi projects COMP, CREAM, UNI, BAL, CRV, Burger and the first projects Mantra DAO, Hedget, RioFuel, UniLendFinance.
Bithumb Global is also the first Crypto Exchange to strongly support Binance Smart Chain and its ecological projects, thus allowing more users around the world to experience the DeFi ecosystem.
What is Binance Smart Chain and Why is it Crucial for DeFi?
Recently Binance launched Binance Smart Chain live on the main net, activating the parallel blockchain to Binance Chain that will enable the creation of smart contracts and the staking mechanism for BNB.
Binance Smart Chain (BSC) has been created to run parallel to Binance Chain with features that enable the creation of smart contracts for tokens on the Binance-branded blockchain.
It also introduces an all-new Proof of Stake Authority consensus mechanism, which adds a staking functionality for BNB, the native token of the Binance ecosystem.
The highlighting achievement of BSC is that it has been launched in time for the DeFi (decentralized finance) revolution, as the public interest in alternative financial solutions powered by blockchain has been growing.
The Binance Smart Chain is here to help DeFi projects and the bigger blockchain community to leverage the best that Binance Chain has to offer like token issuance and transfer, BNB staking, and dApp creation and usage. It is fortified by smart contract support, cross-chain interoperability, along with other advantages of BSC.
Few Benefits Binance Smart Chain offer its Users:
- A rich and growing digital asset ecosystem powered by Binance DEX, the leading decentralized exchange
- Cheap transaction fees that reach as low as 1 cent
- High performance with a network capable of producing a block every 3 seconds
- Cross-chain DeFi mechanisms that increase DeFi interoperability
- A supportive Binance ecosystem that funds and bootstraps many DeFi projects
- A growing ecosystem of millions of users across Binance.com and Binance DEX
- A network of major crypto projects already collaborating with BSC
Bithumb Global Supports Binance in Bridging the Gap Between DeFi and CeFi
Along with enhancing the capabilities of BSC, Binance has also established a $100 million USD seed fund to empower emerging projects and drive collaboration between centralized finance (CeFi) and decentralized finance (DeFi).
The fund is aimed at promoting DeFi projects and provide liquidity support for those selected beneficiary DeFi projects that pass security audits and the due diligence process.
These selected projects will also enjoy various other support from Binance ecosystem like access to millions of customers, media information in the ecosystem, knowledge education, incubation financing, derivatives, financial management, and other comprehensive resources and financial support.
At Bithumb Global we are committed to building products and services that give people more freedom and control over their finances. Therefore, Bithumb Global and various other global partners have joined hands to promote this development of the DeFi ecosystem.