Look out for these Innovative DeFi protocols – PancakeSwap (CAKE), Compound Finance (COMP) & Seesaw Protocol (SSW)

Decentralised Finance (or DeFi) has become a very popular buzzword in the cryptocurrency space. While the term is quite opaque and pertains to a multitude of different financial services, DeFi can be broadly defined as essentially any technology that removes third parties from financial transactions. The infrastructure for DeFi continues to evolve, but already we have seen a large number of innovative protocols that have enabled the use of financial services regardless of identity and location.

Seesaw Protocol (SSW)

The Seesaw Protocol (SSW) is the utility token for the entire Seesaw Finance ecosystem – a “multi-chain, decentralized, non-custodial ecosystem of DeFi products, protocols and use-cases”. The protocol is chain-agnostic and will be deployable on the Binance Smart Chain, Polygon and Ethereum networks. The token will be seamlessly bridged between these three blockchains. Seesaw Token (SSW) is not yet available to the general public but launched its pre-sale on January 25th. Since the start of the presale, Seesaw Token (SSW) has performed extremely well, climbing to $0.12 (an increase of over 450% in a month).

Compound Finance (COMP)

Compound Finance (COMP) is a DeFi protocol. It allows users to stake, lend or borrow against their digital assets. Users who lend funds receive cTokens, an ERC-20 token representative of the amount they have locked in. Compound has become one of the leading protocols in DeFi and is incredibly popular among yield farmers. At the time of writing, the Compound protocol currently has $10,240,855,954 of assets earning interest across 18 markets. The current price of COMP $104.2) is a long way off its all-time high of $854.48, making it an investment opportunity worthy of consideration.

PancakeSwap (CAKE)

PancakeSwap (CAKE) is a decentralised exchange that runs on the BNB Smart Chain, a blockchain with much lower transaction fees than Ethereum or Bitcoin. It is built on open-source software allowing for maximum transparency. Like Compound Finance (COMP), users can earn a token by providing liquidity to the platform. As well as allowing users to participate in yield farming and staking, PancakeSwap (CAKE) features a lottery where participants are eligible to win large prices in CAKE. At the time of writing, the price of PancakeSwap (CAKE) is $6.02. Some have expressed concern over the platform as its token has no maximum supply, making it an inflationary token. However, the platform aims to tackle this problem by making deflation higher than emission, ensuring more CAKE leaves circulation than is produced.

While there are a huge number of DeFi protocols emerging in the space, most are highly derivative and there are few who are truly innovative. While it is difficult to predict the prices of these protocols in the future, there is real value is to be found in the ones creating solutions to complicated problems.

Seesaw Protocol (SSW)

Enter Presale: https://presale.seesawprotocol.io/register
Website: https://seesawprotocol.io/
Telegram: https://t.me/SEESAWPROTOCOL
Twitter: https://twitter.com/SEESAWPROTOCOL
Instagram: https://www.instagram.com/seesaw.protocol