Meme-based tokens are relatively a new thing in the crypto market, they are referred to as meme tokens or meme coins. They use a decentralized financial platform for all of their activities. The biggest blockchain being used by the meme tokens is the Ethereum blockchain.

Before going any further, we should get familiar with some terms and what they mean. Let’s start with the Decentralized financial system.

What is DeFi?

DeFi is a term that has been used to describe the whole of decentralized finance. This includes the likes of crypto lending platforms, decentralized exchanges, and stablecoins. Stablecoins are coin-like assets which are designed to maintain a certain value against fiat currencies. The goal of a stablecoin is to provide price stability for consumers, governments and businesses. These coins are pegged to fiat currencies or cryptocurrencies such as Bitcoin and Ethereum. The most popular stablecoins include Tether (USDT), TrueUSD (TUSD) and USDC (United States Dollar Coin).

This is not all about the DeFi space though. The term ‘decentralized’ has also been used to describe platforms like MakerDAO, Compound and Uniswap. These projects have their own set of goals and purposes, but all of them aim to create a better financial system for users by creating a decentralized network of users and lenders. DeFi is the future of finance, and the projects listed above are working hard to make that a reality. 

 Now lets us know a little about some of the blockchains that are using DeFi and offering their space to meme tokens. CryptoKitties CryptoKitties is one of the most popular blockchain projects for meme tokens. CryptoKitties is an Ethereum-based project which allows users to create their own virtual kitties. These kitties can be traded and bred with other kitties. Users can also collect their kitties by breeding them and they can also breed the kitties with other kitties. It has been estimated that CryptoKitties has raised more than $100 million in its ICO.

Hokkaido Inu

Hokkaido Inu is another meme token that is based on the Ethereum blockchain and used DeFi lending protocol. The project has a stablecoin, which is based on USDT, pegged to the price of Bitcoin on the Coinbase exchange. In the case of this project, it is easy for users to get USDT, as Coinbase allows users to withdraw USDT from their accounts. This is also true with the other two projects. The main difference is that the Inu project has a special feature for people who want to invest in crypto assets.

Also Read About: How can I buy HOKK?

How does Hokkaido Inu work? The Hokkaido Inu (HOKK) project uses a decentralized lending system that connects investors and borrowers. A borrower who wants to purchase a car or real estate will seek an investor’s loan and provide collateral in the form of the asset they wish to borrow. As long as the borrower meets his payments, the lender will have an opportunity to sell the asset back to the borrower, with the profits from the sale going back to the lender. The beauty of this system is that there are no centralized lenders or centralized assets. This means that the assets themselves can be used for multiple purposes.

HOKK is an all-inclusive ecosystem and has a lot of important and necessary products to offer within its community. it also has some other ideas that are going to be the first in the crypto market. The future looks promising for this young meme token. If you are interested in becoming an investor in this idealistic meme token, you visit http://hokk.finance/ 

Final Words:

The decentralized Financial System has provided an alternative and independent financing system to the regular financial banking system. People are getting attracted to this free and secure financial system where there is no third party is involved. The meme tokens are really getting good use of this system and offering their communities a chance to be a part of this future market trend. Check this system out and if you feel invest some in Defi meme tokens.