‘DeFi’ Replaces ‘Blockchain’ as the Must-Have Crypto Moniker
- Tron, EOS, other coins announce they are part of DeFi movement
- Rebranding efforts are prompting a surge in token prices
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Remember when Long Island Ice Tea Corp. sent its shares soaring by reinventing itself as a crypto company before crashing and burning? Well, it’s happening again in the digital-asset sphere, but instead of adding “blockchain” to a name, DeFi is the moniker of choice.
DeFi, or decentralized finance, has become part of more and more company promotions this year. Nucleus Vision, a data-sourcing project started in 2014 to provide consumer insights to retailers, recently announced that it’s “DeFi for Retail Purchase Loans.” Tao Network, which has been around since 2015, now states it’s “building DeFi of entertainment.” Tron, an operating system active for at least three years, just issued its own DeFi coin.