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An airdrop is an unsolicited distribution of a cryptocurrency token or coin, usually for free, to numerous wallet addresses. Airdrops are often associated with the launch of a new cryptocurrency or a DeFi protocol, primarily as a way of gaining attention and new followers, resulting in a larger user base and a wider disbursement of coins. [1]
The protocol is intended to serve as an open standard and common building block, driving interoperability among decentralized applications (dApps) that incorporate exchange functionality. Trades are executed by a system of Ethereum smart contracts that are publicly accessible, free to use and that any dApp can hook into.
The Graph is an indexing protocol for organizing and accessing data from blockchains and storage networks. It allows developers to search, find, publish, and use the public data they need to build decentralized applications.
In October 2021, the FATF included DeFi in the guidance for crypto service providers, making the authority's aim to regulate this type of asset.They are expecting each individual country to determine if individuals involved in DeFi can be considered a virtual asset provider and be subjected to the FATF's guidelines. [49] [50]
Injective was launched by Injective Labs, which was founded by Eric Chen and Albert Chon in 2018 through the first incubation program hosted by Binance Labs. [1]In December, Injective launched a Testnet for a DeFi trading platform built on top of its layer. [2]
Stellar is an open-source protocol for exchanging money or tokens using the Stellar Consensus Protocol. [1] The platform's source code is hosted on GitHub . Servers run a software implementation of the protocol, and use the Internet to connect to and communicate with other Stellar servers.
Firstly, the whitepaper is published, describing the DApp's protocols, features and implementation. [7] Then, required software and scripts are made available to the miners and stakeholders that support the validation and fundraising of the network. [7] In exchange, they are rewarded with the initial tokens distributed by the system. [7]
Uniswap is a decentralized finance protocol that is used to exchange cryptocurrencies and tokens; it is provided on blockchain networks that run open-source software. [1] [8] This is in contrast to cryptocurrency exchanges that are run by centralized companies.
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