Getting a bank loan can be difficult if you have bad credit history. This has made lending inaccessible to many people. In this environment, decentralized finance, or DeFi loans have gained momentum. When you get a DeFi loan, you skip the need for banks, or someone valuing your assets.
Instead, you’ll need to use cryptocurrencies as collateral when you take out a DeFi loan.
Decentralized Finance Loans and Growing Adoption
DeFi loans are becoming more popular, but are currently held back by a key factor. This is the increasing diversity within the crypto space. Since the different networks are set up according to each network’s needs, this has left users feeling confused.
The solution to this problem is an interface that’s easy for users to use, and the networks to integrate to.
Annex Finance and the DeFi Space
Annex Finance is a company that seeks to bridge gaps between lending, and lending through DeFi platforms. The primary difference when using Annex Finance to lend, is that an integrated DEX is used to swap tokens. This is done through a DeFi platform that is community focused.
The team behind Annex Finance feel that they understand the current issues that are plaguing traditional finance systems. Using this knowledge, they’re striving to create a bridge that brings traditional lending and lending through decentralized financial platforms together. This will be done in a way that benefits lenders as well as users. Annex Finance hopes to act as a one stop DeFi solution for Bitcoin, Ethereum, as well as the Poly network.
