Binance previously announced the launch of HARD protocol on its Launchpool platform. Any Binance user can join the yield farming platform and earn DeFi Staking perks such as KAVA, BNB, BUSD and others, in exchange for HARD token rewards. The HARD Protocol is pioneering a cross-chain money market globally where holders can benefit more from their digital assets. Formerly named Harvest.io, the project is focused on providing accessible and decentralized financial services to the world by using the Kava blockchain encryption and price feed interface. While DeFi tokens have been under pressure, there are new projects that are backed by large crypto firms that will likely be able to weather the storm.
Why it matters: Like any industry – capital is king. With the support of a industry giant like Binance, a DeFi platform (or any platform) will be able to outperform a smaller company that needs more connections up-front. There is little doubt that DeFi platforms that create returns for investors will grow stronger, partly because there are such small returns on fiat currency due to wild central bank policy. As the market becomes more mature, DeFi platform like HARD Protocol are likely to becomes new sources of investment capital in a debt market that is increasingly difficult to access for most people, due to higher lending standards.