DeFi is getting Re-DeFined with Logarithmic Finance (LOG), Ripple (XRP) and Fantom (FTM)

2 May 2022

in XRP

Reading Time: 4 mins read

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DeFi is the height of cryptocurrency, as a novel application, it is being said among cryptocurrency buffs that DeFi is the replacement of traditional banking, and the truth is, how can you not believe that? Pioneering borderless payment, using the blockchain and bypassing gatekeepers through the use of the blockchain. DeFi has moved from being a cryptocurrency thing to being a real contender and an example of what banking can be.

Since Decentralised Finance (DeFi) is based on secure distributed ledgers which is akin to the systems used by cryptocurrencies, it can bypass Central Banks and other institutions that serve as barriers in the traditional banking system. There are a lot of entrants into the DeFi space, including tokens like Ripple and Fantom, these tokens were some of DeFi’s frontrunners, however, DeFi is getting re-DeFi’ned. Logarithmic Finance is set to become a big name.

Ripple (XRP)

Coming into the cryptocurrency space in the year 2013, Ripple (XRP) had the advantage of early entry. It fell quickly into contention and rose into the top ten of all cryptocurrencies in the world by the end of the year. It has since then gone on to make great gains, however, a few shadows follow Ripple (XRP). The organisation behind it was locked in a legal stalemate for the better part of 2021, the class action filed in December of 2020 stagnated the all-time high of Ripple at $3.84.

Fantom (FTM)

Fantom is another of DeFi’s hot tokens, at $1.07 per token, Fantom (FTM) is outside of the crypto top 10 by the ranking of Market Capitalization. Fantom (FTM) uses the proof of stake method of validation and it has been stated by some as the most suitable replacement for Ethereum (ETH). This is a high goal that it is yet to live up to despite having spent ample time in the market.

The light, scalable nature of Fantom (FTM) makes it a token to reckon with. This token is quite established now. Perhaps its time for a fresh face, Logarithmic Finance.

Logarithmic Finance (LOG)

Logarithmic Finance (LOG) comes packed with promise. It is a layer-3 switching protocol that intends to deliver the moving of financial assets at ease across borders, blockchains and languages. Logarithmic Finance (LOG) will boast a cross and multichain system that will allow financial assets to be generated and moved across any major blockchain network that will include the Ethereum (ETH), BNB Chain, Polygon (MATIC), Solana (SOL), and Avalanche (AVAX) ecosystems.

This singular use case, when implemented will be a potential winning principal that will push Logarithmic Finance to the forefront of DeFi. At the moment, the code of the project is in the works and is being reviewed independently by Certik. Logarithmic Finance (LOG) is also interoperable and open source, with a public-driven and highly spirited drive towards overall development, the coin has a lot of potential.