Sergey Nazarov expressed that while DeFi is just getting started, with only ~2.4% (16Bn) of crypto assets ($660Bn) secured by DeFi Protocols. Providing assets from industries like insurance ($6.3Tn) and trade invoices ($19.5Tn) as collateral for DeFi, is also a very large opportunity.
The current excitement in the industry is about turning insurance products in to tokenized assets. The community are very confident that once the DeFi gets rolling, it is going to grow the size of the Derivatives market in ways we can’t even imagine yet. The Derivatives market worldwide could do a 10X thanks to DeFi entering the sector.
Some of the community members feel that the profit has spoken and that those who are not holding LINK should change that disposition and begin holding it. Some also have to state that we are so unbelievably early and that DeFi will continue to grow in orders of magnitude and swallow the global economy.
Commenting on this Sydney Ifergan, the crypto expert tweeted: “ChainLink (LINK) well know that reliable data is required in almost every industrial sector and they are set be there in every place which requires it.”
Asymmetry of information Link are improving on the fundamental and intrinsic value for the whole space.
ChainLink (LINK) Integrations
Perpprotocol are a decentralized derivatives platform. They are making use of ChainLink Price feeds to calculate funding payments on BTC and ETH perpetual swaps. They are planning to launch more markets in the future and all of these are to be supported by Chainlink and to leverage Chainlink natively on the xdaichain.
Also, Chainlink are integrating natively on maticnetwork, thus enabling developers to build scalable blockchain applications, which are connected to real-world data feeds. They have recently published a tutorial in which it is possible to learn how a DeFi dApp on Matic uses a ChainLink Price Feed to fetch the current price of ETH.
OroPocket has an OpenDeFi Protocol, which makes use of ChainLink Oracles on the mainnet to price tokenized gold and silver. By facilitating tamperproof fair market valuations for these on-chain assets, OpenDeFi will be able to offer no-slippage trading and maintain full collateralization.
Redfoxlabs_io is a platform that supports esports and gaming applications on the WAX_io blockchain. Redfoxlabs are set to run their own ChainLink node to ensure that the gaming data generated by those dApps available on Ethereum, seed the creation of cross-chain, metaverse NFTs.
apM Group, which is a market leader in Korea’s wholesale fashion industry are going to make use of Chainlink in their customer reward platform apmpoints to calculate the loyalty points. Chainlink in the process ensures the fair distribution of apM coin rewards to shoppers in apM’s retail fashion malls.
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