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Decentralized Finance (DeFi) is an umbrella term for providing decentralized financial services such as payments, lending, borrowing, investments, trading, insurance, and asset management using blockchain.
The DeFi revolution’s genesis is placed in the need to reduce the involvement of intermediaries in finance and to do away with the limitations of national borders, bureaucracy, and latencies of the current day financial system. DeFi powers a borderless peer-to-peer digital ecosystem that is open, free, fair, and accessible to all.
It is evident that crypto and DeFi are no longer fringe technologies. Inevitably, the DeFi segment is seeing rapid uptake in terms of adoption and has attracted investments from institutional investors and venture capitalists who believe in its vision to promote efficiency, inclusion, transparency, innovation and security.
The overall value of crypto assets stored in DeFi, or simply the Total Value Locked (TVL) quickly went from $1 billion in 2019 to having a TVL of over $200 billion in 2022.
DeFi As A Service: Decluttering Crypto Investments and Farming
Apart from individuals showing interest in DeFi services, businesses to0 have shown a massive demand to incorporate DeFi into the heart of their operations. However, they frequently run into roadblocks owing to the technology’s complicated development process of building Web 3.0 DApps.
DeFi-As-A-Service (DaaS) aims to fill a vacuum in the status quo of DeFi adoption at an industrial level and leverage them for business and personal use. DaaS will enable traditional and blockchain native organizations to access services that are similar to SaaS-like DeFi services securely and compliantly.
One of the segments of DaaS is Farming-as-a-Service (FaaS), which permits investors to purchase a token that allows them to participate in yield-generating systems. When investing in projects that are associated with FaaS, investors need not be familiar with very intricate yield farming tactics. This simplifies investments and provides opportunities to beginner investors who are often lost in navigating the space for genuine and valuable projects to be on.
DaaS projects like Midas DAO (rebranded as Midas Finance) provide turnkey crypto investment and asset management solutions through FaaS for a lucrative and consistent revenue stream with exponentially high yields. Assets would be managed through experts and specialized funds to configure a revenue stream with high API for users who hold Midas’ native token, $CROWN tokens.
Midas also recently added a system of tiered virtual nodes to its protocol which will allow users to earn passive income and gain access to investment opportunities in DeFi projects across multiple blockchains.
What Lies Ahead For DaaS
Much like traditional hedge funds, DaaS solutions like Midas break down the entry barriers for crypto investments for investors to earn dividend yields on their holdings.
New initiatives are continually being developed in the field to enrich the DeFi ecosystem, pump in capital and achieve what DeFi set out to do: Making crypto accessible to the everyday Joe.
