News

LONDON, July 16, 2021, Huobi Eco Chain (HECO), a decentralized, EVM-compatible public chain, today announced that the first phase of the Lucky HECO Event has officially begun. This event was jointly organized by HECO and on-chain projects, crypto artists, and users who participate in this event can win NFT blind boxes. All of this aims to present a more diversified and enhanced use-case of NFT products and user experience to the community.

Decentralized finance (DeFi) has developed rapidly and become one of the important trends of crypto digital currency in 2021. Currently, DeFi mainly focuses on lending, DEX transactions, synthetic assets and financial insurance. However, there has always been a huge market demand for lending, and decentralized lending has experienced explosive growth after its feasibility was verified by MakerDAO, AAVE and Compound. The total lock-in amount of loan agreement in the whole network has soared by nearly 50 times from 530 million US dollars at the beginning of April last year to over 25 billion US dollars now.