The DeFi ecosystem has seen immense growth in 2020. From a value locked in DeFi of $1.
2 billion in January to over $13 billion in November, the space has seen a compound monthly growth rate of 31%. This explosive growth has been driven by a number of factors, including the launch of new protocols, the expansion of existing protocols into new areas, and a general increase in awareness and adoption of DeFi.
One protocol that has seen significant growth in 2020 is DeRace. Launched in January of this year, DeRace is a decentralized racing platform built on Ethereum.
The platform allows users to bet on virtual races using ETH or ERC20 tokens. To date, over $3 million worth of ETH and ERC20 tokens have been wagered on the platform.
NOTE: WARNING: Is DeRace on Ethereum? is an unregulated financial product and carries a high level of risk. It is not suitable for all investors and you should make sure that you have fully understood the risks involved before investing. You should be aware of the potential losses that you may incur as a result of investing in this product. You should not rely on any information provided here, as it is not intended as investment advice or recommendation. You should always seek professional advice before making any investment decision.
DeRace has seen significant growth in 2020 due to a number of factors. First, the platform was launched at a time when the DeFi ecosystem was beginning to take off. This gave DeRace a first mover advantage in the space. Second, the platform has benefited from the overall growth of the DeFi ecosystem.
As more users have become aware of and interested in DeFi, they have also become aware of and interested in DeRace. Finally, DeRace has been able to grow due to the team’s focus on marketing and community building. The team has actively engaged with the DeFi community and worked to make sure that users are aware of the platform and how it works.
Looking forward, it is clear that DeRace has a bright future ahead. The platform is well positioned to benefit from continued growth in the DeFi ecosystem.
Moreover, with a strong team focused on marketing and community building, it is likely that DeRace will continue to see significant growth in 2021 and beyond.
Yes, DeRace is built on Ethereum blockchain which makes it a decentralized application (DApp). It utilizes smart contracts technology making it possible for P2P (peer-to-peer) transactions without any central authority like banks or government institutions.
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