Here’s how Augur, Uniswap V3, and compound finance are strengthening the Defi Space

DeFi or decentralized finance is the use of technology for removing the intermediates used for financial transactions. Financial transactions are a significant part of our day-to-day life, and of course, it is not new to use technology for financial services.But, the technology facilitates the transactions and does not entirely remove the need for an intermediate. Here’s why Decentralized finance becomes essential because it places the technology at the center and front of transactions in financial services. Defi makes use of public blockchains and software protocols for this purpose.Decentralized finance attempts to decentralize traditional financial services, including lending, investment, payment, trading, and wealth management. This report shall put a light on Augur, Compound finance, and Uniswap V3 and try to analyze their role in strengthening the DeFi space.AugurIt is a decentralized exchange that enables transparent access to the market. Being community-owned, Augur is a global prediction marker protocol where anyone can create a market. It is built on Ethereum and enables the users to bet on the world’s events’ outcomes.Before the launch of Augur, the prediction market was highly centralized and also confined within geographical boundaries. Those would have required the use of a trusted third party to handle the funds and verify the outcomes of the events. Here, Augur enables global participation by removing the boundaries and the need for a middle man. The smart contracts in Augur handle the funds and payouts of users.Augur also has its native token called REP, which is currently priced at $24.14 with a market ranking of #137. Reporters stake the REP on the truthful outcome after an event, and the outcome having the most staked REP is considered to be the truthful outcome. If a user stakes the REP on a wrong outcome, then the staked tokens are again distributed among the users.Recently,…