It is hard to assume that an alternative blockchain will match up to the ethereum blockchain’s level in DeFi, but it’s starting to seem possible with projects like HachFi(HACHI) and Aave (AAVE).
HachFi is a new DeFi project on the BSC network, and this article looks at the possibility of success by considering Aave on Avalanche as a case study.
Avalanche (AVAX) is one of the blockchain industry’s fastest smart contracts platforms in terms of time-to-finality. It has the most validators securing its activity of any proof-of-stake protocol. Because of its scalability, high throughput, and near-instant finality, the Avalanche blockchain is well-suited for developing DeFi applications.
During the first phase of the Avalanche Rush program in 2021, the Avalanche foundation allocated up to $20M AVAX for users of the Aave protocol to earn AVAX rewards while using Aave on Avalanche over three months.
This program will attract new users to the platform while reaching out to existing Avalanche users. Deploying Aave on Avalanche allowed more users to access Aave’s offerings across the DeFi ecosystem, and Aave on Avalanche quickly grew to a total value locked of over $4 billion.
WHy You Should Consider Aave (AAVE)
Aave is a decentralised lending system that has aided in propelling interest in the DeFi sector to new heights.
This next-generation protocol was among the first to allow users to lend, borrow, and earn interest on cryptocurrency assets. Best of all, Aave eliminates the need for a middleman because the entire system is run autonomously via smart contracts that reside on the Ethereum blockchain.
Aave’s developers have worked hard to ensure that their network is accessible to everyone since its inception. This platform’s openness and simplicity make it ideal for institutional and retail investors. As a result, Aave has become one of the world’s most popular DeFi apps.
Aave attempts to address some of the most pressing issues confronting traditional lending services. The project’s main goal, as with all DeFi, is to convert centralised financial services to their decentralised equivalents. Banks would lend your money and earn interest in a typical lending scenario.
Even though they are lending your money, you will never have access to lucrative interest earnings.
Aave launched a V3 protocol on Avalanche, and it quickly grew following the support from the Avalanche foundation. Aave V3 launched on other networks, including Polygon, Arbitrum, Fantom, Harmony, etc. As of 26 July 2022, the Avalanche network held a TVL of $1.05 billion out of a total of $1.16 billion.
HachFi (HACHI) Is Entering The Crypto Market
HachFi is a new cryptocurrency project aiming to provide top-notch DeFi services across yield farming, liquidity staking, etc.
The HachiFi vision expands into the cryptocurrency market by delivering innovative products like non-fungible tokens (NFTs) and world-class Web3 devices like charting and tracking within an all-in-one ecosystem.
HachiFi’s success and continuity are of the utmost importance to the community and its administrators.
The Hachi token will serve as a governance and rewards token for the protocol. The utility token will power all features available on the HachFi protocol.
The project’s roadmap details several new developments the team will work on as they progress. And of course, as a DAO-governed protocol, users can create proposals and vote consensus on implementing every development.
HachFi is a very promising project, and you probably shouldn’t miss the token on presale. In addition, the presale starts with many bonuses that can help you lower your entry price.
You can earn up to 40% when you buy with up to $2500 fiat currency. A second purchase can earn you an extra 40%, and a third can earn you an extra 80%. You can use this bonus opportunity to accumulate more HACHI tokens while spending less.
Join HachiFi (HACHI)’s Presale: