A new crypto project, Retik Finance (RETIK), has exceeded the monthly returns of leading cryptocurrencies Solana (SOL) and Ethereum (ETH). Retik Finance offers innovative decentralized finance (DeFi) solutions including crypto debit cards, a multi-chain wallet, payment gateway, peer-to-peer lending, and derivatives trading. Retik Finance’s native token, RETIK, has grown tremendously over the past month. According to market data, RETIK’s price has increased by over 200% in the last 30 days. In comparison, Solana (SOL) and Ethereum (ETH) have posted monthly gains of 7.9% and 17% respectively.
DeFi Debit Cards Driving Adoption
A key driver of Retik Finance’s growth is its futuristic crypto debit cards, which offer 5% cashback rewards, airport lounge access, and other benefits. The cards enable everyday crypto utility for shopping, dining, travel, etc. without needing Know Your Customer (KYC) identity verification. The cards come in Silver, Gold and Diamond tiers; the higher tiers get increased cashback.
Comprehensive DeFi Ecosystem
Beyond crypto cards, Retik Finance offers a suite of decentralized finance products. Its non-custodial multi-chain wallet taps liquidity from multiple DEXs . The wallet seamlessly connects with the ecosystem’s other offerings. The Retik Finance payment gateway enables merchants to easily accept crypto payments, expanding their customer base. The platform also features an AI-based peer-to-peer lending platform and derivatives exchange with perpetual futures and options for lending and trading needs. A decentralized exchange aggregator finds optimal swap rates across DEXs Uniswap and PancakeSwap. The platform brings everything crypto users need to manage assets, earn yields, trade derivatives and spend crypto under one roof.
Solana and Ethereum Unable to Catch Up
Despite boasting recent gains, Solana and Ethereum networks are considerably lagging behind the exceptional monthly returns demonstrated by Retik Finance. At their core protocol layer, Solana and Ethereum continue to face significant congestion issues, leading to inadequate scalability to meet growing demands.In particular, Solana implemented proof-of-stake consensus to improve scalability. However, recurring network outages disrupt applications and user activities. During outages, the entire range of DeFi and NFT projects on Solana come to a standstill, infuriating traders and developers alike. Solana’s long-term success depends considerably on preventing frequent outages as users lose trust. Similarly, Ethereum gas fees remain exorbitantly expensive, often over $5 per basic transaction, making DeFi inaccessible for average investors. Ethereum’s much-touted proof-of-stake merger has not done a lot to solve this issue. Decentralized exchanges like Uniswap and lending protocols remain out of reach for many due to exorbitant fees. In stark contrast, Retik Finance’s product ecosystem, including debit cards, wallet, and perpetual swaps exchange already work at scale without facing network congestion. By harnessing both layer 1 and layer 2 infrastructure, Retik Finance achieves optimal throughput speed while maintaining negligible fees. As Solana and Ethereum networks grapple with upgrades, Retik Finance is poised to extend its return lead.
Conclusion
In an exciting development for the DeFi space, emerging crypto startup Retik Finance has surpassed Ethereum and Solana in monthly gains due to the strong adoption of its offerings. As the project enhances the real-world utility of digital assets, Retik Finance’s price will see further upside potential in the coming months. Crypto analysts advise investors to closely track Retik Finance’s progress against legacy platforms. Retik Finance is positioned to continue outpacing older networks Ethereum and Solana with fast-growing adoption across its product suite.
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Website: https://retik.com
Whitepaper: https://retik.com/retik-whitepaper.pdf
Linktree: https://linktr.ee/retikfinance
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