Building Blocks of New DeFi keeps coming

Building Blocks of New DeFi keeps coming

There are myriads of novel Defi building blocks, such as WETH10, which is a new wrapper to Ether, and in the backend of all DeFi, is a tokenized form of Ethereum. Ethereum is assimilated with WETH, which is not a token to the ERC standard and smart contract are performed on this platform.

ETH is upgraded with the novel WETH10 iteration and which is attached to myriads of whistles and bells of tokens of current standard and which permits things like call, transfer and glasses transactions and which is a way to remove the onerous and unsafe token approval mechanic.

The significant feature, exactly like the flash loan, is the Flashmint and which from thin air, creates new tokens in place of taking them from liquidity pool. There are practically no limits to how much you can create, making arbitrage strategies even more effective and cheaper. Of course, this also means simplifying hacks and exploits, but here we come back to the age old argument of “flash loans good” vs. “flash loans bad.” I’m firmly of the former stance, since a protocol would’ve still been weak to exploits even without help from flash loans.

Furthermore, Alchemix is another novel primitive, which is a protocol, that when backed future yield, aids in drawing a loan.

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