Search

Top 3 De-Fi Projects On The Ethereum Ecosystem

Updated: Jun 22

Ethereum is the world's second-largest cryptocurrency after Bitcoin. It has been able to expand on Bitcoin's use-cases by building an ecosystem of Dapps from defi, NFT, etc. Today's article will list the top 3 De-Fi projects on the Ethereum ecosystem. But before we start don't forget to subscribe to our newsletter and follow us on Instagram.


Virtual Art based on Ethereum and its features

So let's begin without wasting any time.


UNISWAP

Uniswap is a cryptocurrency exchange that uses a decentralized network protocol. It is an automated liquidity protocol of non-upgradeable smart contracts on the Ethereum blockchain. It obviates the need for trusted intermediaries while making a transaction. This improves censorship resistance and security by improving decentralization.


The Uniswap token UNI is valued at around $5,269,106,141 and trades for around $5.27 as of 22 May 2022.


AAVE

Aave is an open-sourced lending protocol on the Ethereum blockchain. Lenders can here earn interest by depositing digital assets into liquidity pools. Borrowers can then use their crypto as collateral to take out a flash loan using this liquidity. It also serves as a governance token giving owners a say in the future development of the protocol.


The interest rates on the Aave platform are based on the utilization rate of the liquidity pool in question. Lenders here have the chance to earn relatively low-risk, passive income from interest paid on loans without having to engage with a third party.


1INCH NETWORK

The 1inch Network unites decentralized protocols whose synergy enables the most lucrative, fastest, and protected operations in the DeFi space. The 1inch Network is a decentralized exchange (DEX) aggregator solution that searches deals across multiple liquidity sources, offering users better rates than any individual exchange. Like other DEXs, 1inch lets users transact tokens without a third party.


The 1INCH NETWORK is valued at around $1,428,613,719 and trades for around $0.9502 as of 22 May 2022.

29 views0 comments

Recent Posts

See All