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HYPE meaning in Cryptocurrency ? |
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Answer» Realized that DeFi and crypto struggle with problems as the other innovative technologies before them. Due largely to a steep learning curve in a technology that is constantly evolving, there is a high barrier-to-entry. UI and UX is still a big issue for new consumers in the path towards mass adoption of decentralized finance, blockchain technology, and other digital assets. Having to jump from one screen to the next between wallets, explorers, Dapps, exchanges, and much more to look up gas prices, monitor network transactions, cancel pending transactions, customize nonces, staking, borrowing, trading, farming, insurance, governance, and many other features that come with understanding the technology as a whole, has made it virtually impossible for the average individual to become an active participant. Supreme Finance is simply an adoption-focused DeFi protocol on which we intend to create a fully-integrated user-friendly platform/service, to connect as many crypto-muggles with the many decentralized financial products and services already on the market. Our goal is to make DeFi simple and easier to use to create a better user experience for those who are intimidated by the learning-curve, therefore lowering the barrier-to-entry. We’ll do this by focusing not only on innovating and creating a product no one has ever created before on the bleeding edge, but also by working towards mass adoption of just the bleeding-edge that already exists and making that experience as seamless as possible for the user. Over the past years, the DeFi space has continuously grown due to the increased number of new applications, primitives, and protocols. The structure is underway towards commercialized future financial systems as we speak and is beginning to take on a surge of interest from the crypto and non-crypto community. DeFi volume has increased from zero to over $20 billion in total locked value (TVL) in the past year alone. Many DeFi projects require users to lock up an asset (collateral) in order to take out a loan, create liquidity in a market, or mint a new asset. These assets locked as collateral have created a measure for valuing these applications, called total locked value (TVL). With this in mind, we've seen DeFi Dominance (vs. Global) reach 1.4% in total – showing that many crypto investors are taking advantage of these newly accessible financial products. Over the past years, the DeFi space has continuously grown due to the increased number of new applications, primitives, and protocols. The structure is underway towards commercialized future financial systems as we speak and is beginning to take on a surge of interest from the crypto and non-crypto community. DeFi volume has increased from zero to over $20 billion in total locked value (TVL) in the past year alone. Many DeFi projects require users to lock up an asset (collateral) in order to take out a loan, create liquidity in a market, or mint a new asset. These assets locked as collateral have created a measure for valuing these applications, called total locked value (TVL). With this in mind, we've seen DeFi Dominance (vs. Global) reach 1.4% in total – showing that many crypto investors are taking advantage of these newly accessible financial products. DeFi in existence can be categorized into 4 different protocols that dominate the market; Decentralized Exchanges(DEX), Lend and Borrow, Asset Management, Derivatives. The platforms mentioned below all have experienced wild fluctuations both in terms of liquidity and price action of their digital tokens. Moreover, Uniswap’s sector growth of nearly 6,000% increase in total value locked also means a 6,000% increase in liquidity and providing pool in the protocol. DeFi applications rely on both Uniswap (to provide liquidity to abstract any unnecessary friction for users when interacting with their intermediaries and applications. DeFi allows users to remove banking and financial intermediaries and process lending and borrowing directly from platforms. With over $20 billion currently in 2021 locked as Coingecko Defi writing says, lending accounts for almost 70% of TVL in DeFi. Lending platforms such as Maker headlined the early DeFi as one of the dominant platforms for nearly 50% of the value locked with this sector in 2019. Hence, The Supreme Project has delivered HYPE as its first token. The token was named HYPE, to describe the way in which it would stimulate or maximize user returns. HYPE is a synthetic commodity currency that does not rely on the current world-based currency as a target price or value. Instead, HYPE is not centrally controlled and will be priced only by the needs of the customer. HYPE is a flexible supply digital asset that expands/contracts in response to price/demand in the market and tracks evolution lines from protocols such as YAM, SUSHI, etc. These types of assets belong to the Synthetic Community Money family. HYPE is an experimental, independent, self-sufficient, decentralized currency that is fully dependent on participants, built with the aim of further discovering and determining its value and use cases, expanding and developing them. reference |
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