While all eyes of the blockchain industry have recently been dominated by Bitcoin, the biggest piece of news in the room that lies ahead of its nose is still largely overlooked by most of the media, namely: the rise of DeFi or decentralized finance.
With DeFi, millions of new users can lend, borrow, trade, save, and more, all without the need for approval from companies that often sort users. Also, unlike the stock market which is open every 8 working hours, the DeFi market is open 24/7 every day. This is a sneak peek of the future we can expect from decentralized and third-party-free banking.
In the past year, the amount of value locked in DeFi has increased tremendously from around $21 billion in January to a peak of $150 billion in May (Bitcoinist, June 23, 2022).
Even as DeFi is on the rise, there’s still an argument that DeFi deserves its own dedicated container. A platform that can provide a standard user experience, interoperability with other blockchains, be fast, scalable and fit for purpose. And all these things, is the vision and mission of Glitch Finance.
Introducing Glitch Finance
Glitch is a blockchain-agnostic super protocol explicitly designed for trustless financial markets built from scratch as a solution to other blockchain problems and with a goal: to be the foundation of a decentralized financial infrastructure.
GLITCH will perform a minimum of 3,000 transactions per second, which is expected to increase based on network effects. More users on the network means a blockchain that is more efficient, profitable, highly community-centric, and nearly zero-cost. (Bitcoinist, June 23, 2022)
Currently, GLITCH is holding a MEGA WEEK which is full of announcements such as partnerships, listings, AMAs, and many more that will be spread across all Glitch social media every day until the launch of the testnet.
The GLITCH protocol has been under development for some time now and the next testnet rollout will be on June 30 later this month. Glitch is also currently in the process of developing a wallet, block explorer, and star of the project: GEX (Glitch Decentralized Exchange), a decentralized exchange that will launch as soon as the mainnet launches in July in partnership with cryptocurrency market aggregator protocol, Orion.
In May, $GLCH was listed on KuCoin with the USDT pair, forged various partnerships and integrations including with Polygon and Binance Smart Chain, and recently launched a $2 million grant program designed to attract developers to its ecosystem. (Medium, glitch)
To close the article, here is a quote from Sean Ryan, CEO of Glitch Finance in his statement to the global telegram group Glitch regarding current market conditions;
“I know a lot of projects go into their shell at a time like this. We are lucky we have good fundamentals in tech and business operation so we can survive and flourish in any market. We won’t stop. Pushing on with the mega week. And can’t wait to release TESTNET.” – Sean Ryan, CEO of Glitch
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