Story: DeFi locked Funds ATH Every Day, Security of Funds a major concern- REN, SHA, and XDC Rescue

Blockchain By Ayobami Abiola

1 / 14 Popularity of DeFi

4 / 14 Scalability of Bitcoin Achieved What about Huge fees?

5 / 14 The total locked USD in Decentralized Finance (DeFi) has reached 6.34 Billion, , an all-time high according to DeFi Pulse.

6 / 14 Blockfolio on August 13, rolled out a poll to check the level of involvement of its users with DeFi.

7 / 14 With respect to volumes, Ren Protocol on the 15th of August hits a new all-time high of 1600BTC (19.1 Million USD at the time).

8 / 14 Vitalik Buterin, the co-founder of Ethereum, opined in a tweet today:

9 / 14 “I continue to be worried about the fact that these wrapped BTC bridges are trusted… I hope that they can all *at least* move to a decently sized multisig”

10 / 14 This is worthy of note as many DeFi platforms today use centralized wallets with customers' funds fully in their care.

11 / 14 Safe Haven (SHA) as an inheritance platform can help DeFi platforms decentralize the private keys to their wallet by breaking them into parts that can be shared with multiple…

12 / 14 Ren Protocol operates a fully decentralized custodian wallets. The private keys of the wallets holding users' funds are shared and kept by dark node validators who stake REN…

13 / 14 Most DeFi protocols are currently resident on Ethereum blockchain. Despite the fact that transactions on Ethereum blockchain are faster than Bitcoin’s but the huge transaction…

14 / 14 Blockchains like Xinfin (XDC) are open and readily available to accept DeFi protocols because they process transactions faster than most blockchains with a near-zero fee.

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