Background
DeFi (or "decentralized finance") is an umbrella term for financial services on public blockchains, like Ethereum (ETH). With DeFi, you can do most of the things that banks support — earn interest, borrow, lend, buy insurance, trade derivatives, trade assets, and more — but it's faster and doesn't require paperwork or a third party. As with crypto generally, DeFi is global, peer-to-peer (meaning directly between two people, not routed through a centralized system), pseudonymous, and open to all.
DeFi takes the basic premise of Bitcoin — digital money — and expands on it, creating an entire digital alternative to Wall Street, but without all the associated costs (think office towers, trading floors, banker salaries). This can create more open, free, and fair financial markets accessible to anyone with an internet connection. Solcubator wants to leverage this technology to play a role in this ‘financial revolution' and become the next go-to launchpad ecosystem for the Solana blockchain.
The graph below shows us the total value locked (TVL) in DeFi on Ethereum.
Although the growth has been magnificent, we foresee a shift of interest and curiosity from the Ethereum DeFi ecosystem to Solana's more innovative and user-friendly ecosystem for various reasons. This shift from ETH to another DeFi ecosystem wouldn't be unprecedented because the emergence of the Binance Smart Chain (BSC) in March caused loads of liquidity to flow out of the ETH DApps. That was for a legitimate reason as well, namely, low gas fees.
So, what makes Solana the superior choice for us over any of the aforementioned networks? Let us now describe Solana's charm in more detail to elucidate how we’ve come to such conclusions.
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