Decentralized Finance Platforms Market: A Comprehensive Overview of the Industry’s Key Players and Trends

Decentralized Finance Platforms
Decentralized Finance Platforms

Decentralized Finance Platforms:

An emerging financial technology called decentralised finance (DeFi) poses a threat to the current centralised banking system. DeFi encourages the use of peer-to-peer, or P2P, transactions and eliminates the fees that banks and other financial institutions charge for using their services.

Decentralized Finance (DeFi) platforms market size is expected to reach USD 507.92 Billion at a steady CAGR of 43.8% in 2028, according to latest analysis by Emergen Research. DeFi is a decentralized financial platform and can replace middlemen such as brokerages and banks. It enables automatic execution of smart contracts and manages interest payments. These factors are expected to drive revenue growth of DeFi platforms market.

A major factor driving the market growth is transparent financial transactions on DeFi platforms, and payment settlements in real-time. DeFi platforms help automate a range of financial services using smart contracts. It is a peer-to-peer financial service system, where users can access services, such as borrowings as well as derivatives and margins trading, without a centralized intermediary. However, DeFi platforms differ from traditional banks and users may face various risks during transactions.

In recent years, DeFi platform market has gained traction among crypto-enthusiasts, and is attracting investors across regions. This platform operates on blockchain technology, and aims to replace centralized financial institutions as they do not collect fees and charges on transactions. DeFi platform offers a whole range of financial services, ranging from asset management, borrowing, lending, and trading, which is driving growth of the market.

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Report Scope:

Forecast Period : 2022-2030

CAGR: 43.8%

Base Year: 2022

Number of Pages: 250

Prominent players operating in the industry have undertaken collaborations and agreements to gain a competitive edge and gain a robust footing in the industry. Some prominent players profiled in the report are:

Compound Labs, Inc., MakerDAO, Aave, Uniswap, SushiSwap, Curve Finance, Synthetix, Balancer, Bancor Network, and Badger DAO.

Key Highlights in the Report

In December 2020, TrustToken launched DeFi lending protocol, TrueFi, allowing users to generate stable, high returns, and enable approved borrowers with quick, fixed-term, and fixed-rate with no collaterals. The platform recorded USD 35 million in the total value locked (TVL) within 24 hours of going live. TrueFi is already being used by Alameda Research, which is a quantitative crypto trading firm that operates in crypto derivatives exchange FTX.

The data & analytics segment accounted for a significant revenue share in 2020. DeFi protocols provide a unique advantage for data analysis as well as decision-making regarding risk management and financial opportunities due to their transparency in data and network activities. Rapid increase in DeFi applications has led to the development of several dashboards and tools that help users compare yield and liquidity and assess platform risk.

The smart contract segment accounted for a significant revenue share in 2020 as it is the backbone of DeFi protocols and applications. Smart contracts refer to applications stored in blockchain and have access to financial institutions. Smart contracts act as custodians of digital transactions with customized criteria for details regarding when, how, and to whom these assets can be released.

The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Decentralized Finance Platforms industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.

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Emergen Research has segmented the global DeFi Platforms market on the basis of component, application, and region:

  • Component Outlook (Revenue, USD Billion; 2018–2028)
    • Blockchain Technology
    • Decentralized Applications (dApps)
    • Smart Contracts
  • Application Outlook (Revenue, USD Billion; 2018–2028)
    • Assets Tokenization
    • Compliance & Identity
    • Marketplaces & Liquidity
    • Payments
    • Data & Analytics
    • Decentralized Exchanges
    • Prediction industry
    • Stablecoins
    • Others

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