When the rise of decentralized finance seems to have no end in sight, the world’s top companies and organizations are trying to capitalize on the DeFi fever. And among the companies most committed from the beginning with them is Binance. Increasing its commitment to them now that Binance is betting on DeFi with Binance Liquid Swap.
DeFi and crypto companies
During the last three months, the DeFi sector has experienced the largest boom in its history, increasing its value exponentially in a few weeks. Which does not mean that decentralized finance is unknown within the crypto world. On the contrary, for several years different projects related to DeFi have been developed. Which promised that they would be the future of the world financial system.
Of course, this raised doubts among many crypto users, who saw in the DeFi a series of projects that would never achieve real results. However, a group of companies knew how to foresee the direction that decentralized finance would take. And since last year they had been working on their own integration into the sector.
Being the Tron Foundation and Binance the two organizations that had the most confidence in decentralized finance from the beginning. Which has allowed them to position themselves to reap the benefits of the DeFi fever. Including them in their products, or as in the case of Tron with JUST and now Binance with Liquid Swap, creating their own DeFi projects.
Binance Liquid Swap
Therefore, Binance Liquid Swap is nothing but the natural result of the policy that Binance has followed regarding DeFi in recent months. Including the integration of dozens of DeFi tokens to the exchange, the possibility of staking DeFi from its platform, and Binance Labs investments in the sector.
However, none of these steps had been as straightforward as Binance Liquid Swap. And, this product recently announced by Binance will allow users of the platform to carry out automatic exchanges between two cryptocurrencies, faster and with lower commissions than in the traditional exchange.
Thus, users who wish to do so may deposit any of the three currencies available for swap, USDT, BUSD and DAI in a Binance Liquid Swap pool. The amount of each currency that exists in the three pools will determine the exchange rate between them automatically.
Thanks to this, the person who wants to make a swap between these three tokens will be able to take advantage of the existence of these pools to make the change immediately. While those who contribute to the pools will receive in exchange for their staking, commissions for the swap operations carried out. Binance Liquid Swap is therefore the first purely DeFi product offered by the exchange for the benefit of its users.