If you’re having a hard time keeping up with all of the DeFi (Decentralized Finance) developments, don’t fret: so are we.
Seriously: we saw a thing on Telegram inviting us to join Pancake and we, too, were wondering WHY DO THEY ALL HAVE TO BE ABOUT FOOD!
Alas and alack, here are three more DeFi platforms to consider; though one isn’t about food and, to readers of this space, won’t be a complete mystery.
REMINDER: Do your own research. We’re not responsible for your success or failure. We hope you get rich and make mad bank, but you could also get rekt. Seriously, study this stuff closely — and be prepared to lose your entire investment.
Pickle: Does It Do Anything Interesting?
Pickle announced its intentions in a Sept. 10 post on Medium: “to bring stablecoins closer to their pegs using farming incentives, vaults, and governance.”
About that “off peg bad” stuff, here, from the Medium post, is the team’s motivation:
So there you have it…stability! A more stable stablecoin for a better world!
Or something like that…with the volatility in the first eleven days, it may take some time for the “peg” to be, well, pegged.
Watch this space for more developments; we haven’t invested in $PICKLE yet, but some of our DeFi “degenerate” colleagues have.
How About Pancakes?
This one comes with a couple asterisks: $CAKE is too new to rank on CoinGecko yet and it’s also on the Binance platform. The latter means that we can’t experiment with it yet at HQ because we don’t have any assets on the Binance platform.
In addition to wondering why these all look the same, this one doesn’t inspire a ton of confidence yet:
Once they get the “test” off of the site, we’ll let you know what we learn.
Biggest Non-Food DeFi Development: MCP3D’s $MEGA
This probably deserves its own blog post; but we wanted to make sure this got out before what could become a feeding frenzy.
MegaCryptoPolis, MCP3D for short, is a gaming platform that’s like the Sims. We have written about it a few times in the past; and in this post we felt like we were one of the early adopters on the cusp of something that was about to become huge. Well, the economy within MCP3D lets you use resources to build things, and you can create those resources by actions of your citizens (say, getting one of them to run a power plant).
That economy will soon — as early as tomorrow — let you trade these resources, put them into a vault, and collect the $MEGA token. You can read about these developments in the company’s post on Medium.
We’ve been a fan of this for quite some time — there’s tremendous potential if you’re into the gamification of these crypto communities, and combining the DeFi world with the Sims-type world may be huge.
Again, watch this space for more developments and, if you’ve got something to share in this world, let us know!
As always, stay safe out there. DYOR.