Investor confidence is key to the good performance of any asset in the market, once investors feel a great deal of certainty over an asset, watch the asset do tremendous growth in value.
This is the case of the new DeFi giant – RenQ Finance, multiple investors have found the platform to be trustworthy, reliable, and able to yield profits. For the same reason, RenQ Finance is doing great in the market ahead of Vechain and Chiliz.
Both Vechain and Chiliz have seen a sharp decline in their mass adoption and investors have now lost confidence in both assets causing a quick migration to RenQ Finance.
A Brief Overview of Vechain (VET) and Chiliz (CHZ)
Vechain is a blockchain platform that uses smart contracts to connect to the physical world in order to track products and keep an eye on the supply chain.
VET is the platform’s native currency, but after being on the market for a while, it has struggled to maintain growth and has been trending downward for more than a year.
VET currently trading at $0.02 as of writing, a -91% fall from its highest value of $0.28. As perceived by the public, VET has a strong bearish sentiment which is causing more investors to lose confidence in it and consequently move over to RenQ Finance.
Meanwhile, Chiliz is a blockchain/web3 platform for sports and entertainment. It was created in 2018, however, it hasn’t developed into a reliable project.
However, Chiliz is experiencing a bearish market, and the CHZ is currently 86% below its all-time high price of $0.88, making it a risky investment.
As a result, investors are moving to RenQ Finance, which is performing better.
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RenQ Finance is the new DeFi giant
RenQ Finance (RENQ) is a unified platform for a decentralized world, it also doubles as a cryptocurrency platform that aims to create new asset classes derived from blockchain-based assets. The platform enables investors to achieve superior portfolio risk management and open up new speculation avenues through financial products such as derivatives and margin trades.
Renq’s decentralized protocols eliminate the need for a regulated central clearing house, provide global and equal access, and grant users permanent control over their funds. The platform is a part of the DeFi (decentralized finance) ecosystem, which is distinguished from centralized crypto exchanges (CEXs) by their strict adherence to autonomous, transparent smart contracts.
Unlike CEXs, DeFi platforms cannot act unilaterally with people’s funds, providing users with a diverse and inclusive environment in which they retain complete control over their assets. Renq utilizes a hybrid infrastructure model, a combination of on-chain and off-chain, to offer institutional, liquid, and slippage-free trading to the DeFi community. The platform’s aggregation protocol obtains liquidity from a variety of exchanges and can distribute a single trade transaction across multiple DEXs to obtain the most competitive prices. Renq offers an order book that significantly reduces the spread compared to AMM models and high leverage of up to 100x for long or short trades.
Additionally, Renq provides users with a governance portal to add new markets or propose other protocol changes. The platform is cross-chain compatible, which means it allows interoperability between two relatively autonomous blockchains. Renq doesn’t store any user assets, and the platform offers 2FA security options for users to keep their Keys and Funds secure.
Finally, RenQ Finance is attracting investors’ confidence because it is a hybrid platform that combines the advantages of both DeFi and CEXs.
Renq offers users institutional, liquid, and slippage-free trading comparable to that of conventional centralized perpetual exchanges while maintaining the user’s control over their financial resources.
The platform’s cross-chain compatibility and governance portal add further value to the DeFi ecosystem, making RenQ a platform attractive to investors for the coming years.
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Visit the links below for more information about RenQ Finance (RENQ):
Website: https://renq.io
Whitepaper: https://renq.io/whitepaper.pdf