Decentralized finance (DeFi) is one of the newest digital financial infrastructures that removes the traditional financial models out of the picture. Most active DeFi projects are created on the Ethereum blockchain, where users can exchange, lend, borrow, and trade using blockchain technology and smart contracts.
Ethereum and Its Limits
However, Ethereum suffers from slow mainnet PoW consensus, limited scalability, and high transaction fees. On the other hand, Solana is one of the most performant permissionless blockchain platforms, allowing for up to 65,000 transactions per second.
The Proof-of-History (PoH) consensus is unique to the Solana network, and it allows for trustworthy and credible timestamps that are encoded into the messages. With PoH, Solana solves Ethereum’s issues and offers a better platform than the Ethereum network.
This is why some DeFi projects decided to launch on Solana – one of them being Solgem.Finance.
Solgem.Finance is a new DeFi ecosystem with highly scalable, interoperable, and secure DeFi products. It will make DeFi more accessible to the general public. Solgem.Finance offers an IDO launchpad, NFT marketplace, Lending protocol, and decentralized exchange.
The IDO Launchpad is fully decentralized and helps early-stage projects sell their tokens. The NFT marketplace offers a greater level of security, scalability, and interoperability that will boost NFT trading. Solgem.Finance’s lending protocol will bring fixed-rate lending and fixed-rate borrowing features.