The decentralized finance (DeFi) community has long awaited the arrival of heavy duty DeFi protocols on Cardano. With the Alonzo hard fork, Cardano is making progress to release smart contract deployment on its blockchain, and the stage has been set for revolutionary new financial services to build on the network.
Over its short history, DeFi has expanded into a behemoth community with a total value locked (TVL) that stands at around $275 billion today. However impressive these numbers may seem, the total AUM of traditional finance (TradFi) still looms large over DeFi, and for many this represents an exponential room for DeFi’s growth.
DeFi represents a people powered financial community that is built for the community to benefit the community. In the spirit of building a greater DeFi community, ADA Finance has introduced an affiliate rewards program that incentivizes users to refer their friends and family to the protocol and earn an increased share of passive income for helping build its user base.
ADA Finance Builds Momentum on Awards Nomination
ADA Finance was recently nominated “Best DeFi Project of the Year” by the AIBC Summit, potentially the largest blockchain summit in Europe. The prestigious nod places ADA Finance in the running with five other projects noted for their outstanding work towards making DeFi the next big disruption in industry, and awards will be decided on November 16th.
The AIBC Summit has opened voting for their awards, and other nominees include the artist whose NFT sale was heard round the world, Beeple. In March of this year, Beeple broke records by selling a work of NFT art through the auction house Christie’s for $69 million.
Since the beginning of this year, DeFi and NFTs have been on a course to make history as the explosion of new users into each sector has been tremendous. ADA Finance’s referral program creates an innovative and lucrative way for its users to further this growth and introduce more people to the DeFi community and the services ADA Finance has to offer.
How ADA Finance Makes DeFi Easy for Everyone
The DeFi world is an evolution within the blockchain and cryptocurrency industry as it brings a whole new opportunity for earning multiple passive income streams. The incentives, rewards, and blockchain-enabled security DeFi provides its community are tipping the balance in DeFi’s favor as the traditional finance industryi struggles to offer percentage yields on savings accounts that edge into whole numbers.
The numbers don’t lie: DeFi is shaping up to be the ultimate in financial services. DeFi as a whole has bloomed into a vast array of services within its ecosystem, and ADA Finance is making DeFi easier for everyone by developing multiple services that can be accessed in one place.
ADA Finance delivers DeFi services that have become commonplace for the community to find across multiple protocols, spreading wallets thin across networks and reducing the ability for these services to easily work together.
By offering services for borrowing and lending, yield farming, staking, swapping tokens, and even margin trading on one protocol, ADA Finance lets users take advantage of opportunities for growing wealth that arise when these services can be used in tandem.
Additionally, users can yield even greater gains by participating in all of these services in one place, because ADA Finance’s address milestones rewards users who are active within the protocol, something that’s impossible to do when users are forced to interact with different smart contracts on different protocols.
ADA Finance Builds the DeFi Community From the Ground Up
The ease of finding everything one needs to participate in DeFi is a huge draw for many users, and providing a referral rewards program and incentives to use all of ADA Finances services sets the protocol apart from the competition. However, making DeFi better for those already involved is only half the battle.
In a bid to draw even more users to DeFi and help the community grow, ADA Finance has begun an airdrop rewards campaign to further increase the number of users who can leverage $ADAFI tokens to better their financial situation.
The airdrop will reward 100 lucky users with a prize pool of $5,000 worth of $ADAFI, and all entrants need to do is perform several tasks in order to register. As the ADA Finance community continues to grow, DeFi will benefit in the long run.