DOGE, as mentioned above, has become a very well-known and widespread coin. But has it reached the peak of its growth? What to expect in the future?
As cryptocurrencies rise, decentralized financial services (DeFi)
have become a global phenomenon. Standard banking instruments have changed and converted into more transparent and understandable financial products.
But is everything that good with decentralization? As it turns out, not very much. Unfortunately, most of the DeFi projects are only formally decentralized. Strict control of utility tokens in projects, centralization of key services…
On the one hand, it is clear why this is done. After all, the loss of ability to manage the DeFi service is likely to cause discontent among investors, and they will go to competitors, which will surpass the possible advantages of full decentralization.
But all this is true only at the point when the DeFi tool control element is used strictly within the one project and nowhere else. If you add a truly massive and convenient cryptocurrency to the ecosystem - such as DOGE, for example! - the situation is changing sharply. And you don't even need to give up your own managing token! It is enough to duplicate some functions using DOGE.
For example, this is implemented in the FOIL Network
. On the NFT marketplace
you can use FOIL and DOGE for buying and selling, without any restrictions.
Users also have access to a quick FOIL-DOGE swap and trading on its own decentralized exchange (DEX). And if we take into account that all these features are available directly from the wallet, then we can already talk about a fully decentralized DeFi ecosystem!
Because even an accident and disabling web services will not interfere with users in any way. And the prevalence of DOGE will have a positive impact on the entire project's liquidity.
What will DogeCoin users get? They will be able to use a whole new platform with interesting features, where DOGE is used fully in both DeFi and marketplace transactions, and not just as an additional trading pair.
And this will be a step forward. Another step for a coin that was once considered just a joke.