🎟️DeFiner at NFT.NYC 2022

This past week, a few members of our Definer team attended NFT.NYC 2022. 😍

During the event, Jason Wu (CEO), Chyna Qu (COO), and Evan Solomon (BD Intern) had the opportunity to meet potential partners in preparation for the release our V2 product - the HODLer Market. In addition to the convention, our team went to various side events including parties hosted by Waves, Ripple, Polygon, and more! 🥳

The event was super beneficial to all our attendees. We are eagerly awaiting the release of the HODLer Market and have many exciting launch partners to announce soon. 🔥

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🤔Why DeFi Over CeFi?

DeFi vs CeFi is a hotly debated topic in today's market. In general, users are always looking for the best investment opportunities for their crypto assets. Both DeFi and CeFi enable individuals to lend, borrow, buy, sell, earn, and do more with their crypto. However, the way that DeFi and CeFi operate are fundamentally different. 🔀

DeFi stands for "Decentralized Finance," while CeFi means "Centralized Finance." In DeFi, financial transactions are automated and executed via smart contracts without the need of a middleman or financial institution. On the other hand, CeFi resembles more to a traditional financial service product, in which a centralized entity has custody over the users' crypto assets. 💱

We asked the community why they preferred DeFi over CeFi. This is what they had to say:

• "Not your keys, not your crypto. Simple as that. Even in DeFi, you're still adding a layer of trust that requires just that. At least you can know what is happening through a transparent chain." - u/advias (Reddit).
• "Better staking rewards." - u/joshmillerent (Reddit).
• "Swap fees goes to people who finance liquidity pools. CEXs get both fees and work your money like a bank with [zero] benefit to the user who deposit some money." - u/TrueTears (Reddit).
• "Transparency, control, and accessibility. From allowing everyone to access financial services that on CeFi are reserved to just a few (access loans with equal APY accessible to everyone, and even flash swaps and flash loans). It also gives full transparent access to your tokens, their ownership, and the right to move them whenever you like. There's also the fact that the market doesn't close and you can trade every single day of the year, plus, you have almost no transaction costs and much faster speeds when transferring assets." - u/DiogoCostaANKR (Reddit).

In summary, DeFi is an emerging but resilient technology that fosters ownership, accessibility, inclusion, transparency, and efficiency in the financial sector. What do you say? Why do you choose DeFi over CeFi? Join our community and leave your thoughts in the comments section below! 💬👇

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