First, what is DEFI?
DeFi, short for decentralized finance - it's the notion that crypto entrepreneurs can recreate traditional financial instruments in a decentralized architecture, outside of companies' and governments' control. Compound is a crypto version of a money market fund, letting users earn interest.
Basically, DEFI Staking allows you to invest your existing Crypto and earn interest from it. There are several staking platforms out there and you must do your own research before investing in one of them. Remember only invest what you are comfortable in losing.
October 2020 we saw the interest skyrocket in the DEFI Space. We have seen Staking of Crypto via Smart Contracts increased and a few projects were born, and some were very successful. For more information follow this link DEFI TOKENS.
Below are some of the projects that I am involved in and personally works for me. Remember Do Your Own Research!
ECLIPCITY
A true BAAS (Blockchain As A Service) Marketplace – The worlds first Blockchain Software and technology platform for growing networks, revenue and earnings.
Their portfolio consists of:
| BAAS | FinTech | DAPP Games |
| Smart Contract Audit | DEFI Services | Personal Account |
Currently, there are two projects that will allow you to earn some passive income via dividends, which is TRONCHAIN & CYBERCHAIN.
I only looked into TRONCHAIN and this purely my choice to do the least amount of work and still earn some passive income.
Follow my step by step guide on how to get started with TRONCHAIN.
DEFI STAKING PLATFORM (DSP)
Their motto is "Stake it till you make it - Longer and Bigger Pays Better!"
In this platform, you have to auction TRX Token and in return receive DSP Tokens. The DSP Tokens are then staked and in return, you will earn more DSPs and receive TRX Dividends. The idea is then to restake the earned DSP, and withdraw your dividends. Each day at 00:00 UTC is when the Auction and Stake Lobby ends.
Step by step guide to come soon
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