WIN, soaring as private DeFi investors escape high Ethereum gas costs

Wink’s low-cost yield farming product is attracting private DeFi (decentralized finance) investors who have escaped from Uniswap (UNI, an Ethereum-based decentralized exchange) due to high Ethereum gas fees. Cointelegraph reported this on the 27th (local time). ※ This is a coin telegraph opinion, only for reference..

With DeFi’s explosive popularity over the past year, many analysts have cited 2020’s DeFi summer as a major catalyst for the bullish rally seen in Ethereum (ETH) and Bitcoin (BTC).

Early investors could easily get a huge 4-digit annual return (APY) from Uniswap, but increasing activity on the Ethereum network led to unsustainable gas fees and severe network congestion.

These soaring gas fees are priced to prevent private investors from participating in the simplest protocol interactions such as token approval or staking. Currently, Ethereum improvement proposals do not provide an immediate solution to these issues, which has led investors to look for non-Ethereum-based networks that provide interest farming and other DeFi opportunities.

With a simple network-wide solution for high ETH fees unplanned in the near future, it is worth looking at some of the other options available in competing blockchain networks.

One of these options is WINK, a TRX (Tron-based) gambling platform that allows users to play, social network, and stake assets across multiple blockchain ecosystems using native WIN tokens.

[Low cost multi-asset staking]

In order to interact with the WINK protocol, you need a Tron wallet with about 8 TRX, which is about $0.48 (about 543 won) from its current price.

Compared to the $40 per transaction fee on Ethereum (or more, about 45,260 won), the ability to do multiple transactions over a period of days for less than $1 is quite attractive to ordinary investors.

Wink’s platform, similar to many DeFi platforms, has many opportunities for staking tokens within the ecosystem, such as TRONbetDice (DICE) and TRONbetLIVE (LIVE), where token stakers can get some of the activities that occur in the game.

According to the project’s most recent monthly report, the APR (annual rate) that staked WIN, DICE, and LIVE on the protocol during the month of January was 64%, 123%, and 137%, respectively.

Since WIN is currently trading at $0.000394 and Dice and Live are under $0.05, the lower entry cost and staking price compared to things like YFI and AAVE are more for the average individual investor. It can be attractive.

Evidence that traders are beginning to notice this opportunity can be found in the recent WIN’s price performance, up 700% from $0.000058 on January 1 to $0.00477 on March 20, driven by record trading volume of $344 million. have.

(WINk’s low-cost yield farming offerings are attracting retail DeFi investors who have been priced out of Uniswap due to high Ethereum gas costs.)

Credits to our source: kr.cointelegraph.com

[Coincode (coincode.kr), please share easily and leave only the source. ]

※ It is revealed that all posts in Coincode’s one-person blog are paraphrased & referenced from overseas news, not coincode’s opinions. Coin codes are not based on facts! Just move it! Please use it for reference only. It was a bit slow, a slow news messenger coin code! For quick news, use each coin’s Twitter!

The post Wink (WIN), personal Defy soaring as investors escape from the high Ether Solarium gas costs appeared first on the coin code .

FINTECHPOST