Cosmos Defi Project. Cosmos is a proof of stake POS platform. Binance Smart Chain Polkadot and Cosmos are all nurturing burgeoning DeFi ecosystems of their own.
As per Messari Research the popular DeFi platforms BAND Kava THORChain and Terra are helping Cosmos build a parallel Decentralized Finance DeFi ecosystem. This will cause more users to access Ethereum DeFi via the Cosmos Hub and Gravity Bridge and opening up a wealth of opportunities that will as Simpier enthuses enrich DeFi in both Cosmos and Ethereum through a positive feedback loop. The Kava decentralized finance DeFi protocol officially launched on Cosmos ATOM mainnet with an initial onboarding of Binance Coin BNB as a collateral form.
Cosmos DeFi is the potential competitor amongst high running players like Polkadot.
Decentralized Finance DeFi is a new way of providing banking services through decentralized cryptocurrency systems and smart contracts primarily using the Ethereum network. In the case of the latter the last year or so has seen popular protocols including Terra Kava. It is a public proof-of-stake PoS blockchain whose native asset is the atom ATOM. Cosmos plans to accelerate DeFi growth with Gravity Official Announcement With the first interchain decentralized exchange Gravity DEX built by B-Harvest Tendermint and a decentralized secure bridge to Ethereum Gravity Bridge built by Althea network Cosmos is set to accelerate DeFi growth.
