· The DeFi Sector has almost surpassed $1 billion
· The BNPL Protocol is set to launch token sale IDO
· BNPL allows people with capital to become acting nodes
· The BNPL service will provide banking services with no collateral
The DeFi sector has experienced exponential growth in the past few years. In 2019, the DeFi ecosystem was worth less than $500 million. However, by February 2020, the market had surged to $1 billion. According to the current data, the DeFi market has almost surpassed the $100 billion mark.
During this summer, there was a market correction where the crypto market, dominated by BTC (Bitcoin) and ETH (Ethereum), recovered and appeared to be reaching their all-time highs.
Buy Now Pay Later (BNPL) is a decentralized lending protocol that allows funds access via borrowing without collateral. The BNPL Pay Protocol is set to launch its token sale IDO via Balancer on 16th September 2021. BNPL’s initial sale happened on the Thorstarter launchpad and was oversubscribed by over 800%.
BNPL is a unique idea that allows people with some capital to become lenders and serve as banking nodes. The BNPL Protocol seeks to address the issues faced by centralized banking services. The protocol will provide lending services to consumers who deserve the services and do not have collateral for loans.