DeFi crypto coins have become the new normal for the crypto enthusiasts in the recent past. We are well acquainted with cryptocurrencies like Bitcoins, Ethereum, Lite Coins, and many more, which came into the market with the idea of decentralized issuance and storage of money coupled with the legitimate financial transactions.
DeFi is Decentralised Finance, which aims to provide decentralized peer-to-peer financial services based on smart contracts and blockchain technologies. DeFi crypto projects have been viewed as one of the best use cases of cryptocurrencies and blockchain. DeFi has several use cases, and popular ones are lending, borrowing, trading, insurance, and wallets.
As seen in the month of June, many DeFi projects were listed on MXC Exchange and saw between 100%-1000% returns. This may be because MXC is the first to list new coins with a huge volume.
In the recent past, many of the Defi projects have outperformed Bitcoin, the giant cryptocurrency. The majority of the Defi projects are based on the Ethereum platform, and the governance of these DApps is decentralized, giving space for automation and providing more power to people.
Let’s have a look at best defi crypto projects which can yield multifold returns in the future:
The compound is a decentralized lending and borrowing application built over the Ethereum platform. So anyone who has Ethereum can deposit it into the Compound Smart Contract and can earn interest over it, but there is a catch; once you deposit Ethereum, you’ll receive equivalent cTokens, which can be used as collateral to borrow funds. So you can earn interest on the funds as well as use them at the same time. https://compound.finance/
Market cap $506,955,359
No. of exchanges listed On 30
Maker is a digital token developed on the Ethereum platform through which users can borrow funds by creating DAI tokens that have an underlying asset value of 1:1 US Dollars. Users can create tokens by locking Ethereum as collateral in “Collateralised Debt Position” (CDP) or ”Vault.” This is the second-best defi crypto projects in terms of market cap. https://makerdao.com
Market cap $474,537,051
No. of exchanges listed On 36
0X is an open-source protocol that enables peer-to-peer exchange of assets on the Ethereum platform with the help of smart contract infrastructure. It is one of the top defi projects which supports all the tokens issued on Ethereum blockchain. https://0x.org/
Market cap $283,303,342
No. of exchanges listed On 33
Kyber Network is the most reliable liquidity pool in the Defi ecosystem, and it is a decentralized exchange platform for digital assets. It has near 100 projects, and it supports over 70 tokens and powers.
Market cap $296,492,325
No. of exchanges listed On 43
Augur is a prediction market that works on blockchain. It is an ethereum based decentralized oracle and peer to peer protocol, and it has native ERC20 token.
Market cap $208,583,822
No. of exchanges listed On 46
Aave is a decentralized lending and borrowing platform. It was launched in Nov. 2017 as a peer to peer lending project named as ETHLend and later renamed to Aave in Sept. 2018. Its protocol was live in Jan 2020 with its 16 supporting assets. It is a non-custodial protocol and open-source platform.
Market cap $208,971,672
No. of exchanges listed On 15
Synthetix Network Token
Synthetic Network Token(SNX) is the most significant ecosystem in the decentralized Defi. It tracks the price of other tokens, including both crypto and fiat currencies. It uses the oracle price feeds and economic incentive mechanism. Its mechanism is very similar to the Dai mechanism and it offers its stable coin.
Market cap $222,699,213
No. of exchanges listed On 14
Ren is an open protocol that allows private and permissionless transfers between any blockchain. It is designed to introduce cross-chain assets on the ethereum ecosystem, starting with BTC, BCH, and ZEC.
Market cap $142,131,225
No. of exchanges listed On 13
DAI coin has taken the 9th position on defi crypto list according to the market cap. The DAI is backed by collateral and is token which can be generated by depositing Ethereum which builds trust, transparency and security.decentralized.
Market cap $176,211,336
No. of exchanges listed On 11
The holdings of DMG implies that the right to administer the parameters of DMM Protocol. It also means that the owner has the right to claim the surplus revenue generated from the DMM ecosystem and have the authority to make decisions regarding the addition of both asset type and asset location to the ecosystem. The DMG token is a fork of Compound’s COMP governance with an additional ability of meta-transaction support and a local burn function..
Market cap $45,324,179
No. of exchanges listed On 9
DeFi has brought about a revolution in the financial service market which aims to provide borderless, decentralized, and financial solutions. If you are looking to trade safely and want to invest in the top DeFi coins, trade it on MXC.com.
MXC exchange is the first and the fastest exchange to list the new #defi coins.