Here, we list the top 10 Ethereum-powered DeFi protocols.
1. Compound:
The compound is a stand-alone interest rate DeFi protocol that has been built so that developers can unlock a wide range of open financial applications. The Ethereum-based platform allows users to earn automatically adjusted interest or borrowed assets using cryptocurrency as collateral.
Compound has a market cap of $465mln and is available on Binance, among others.
2. Maker:
MakerDAO providing the ideal bridge between the traditional CeFi system and DeFi. It is a decentralized governance project that is responsible for generating the stable Dai currency and the governance of this same cryptocurrency.
Maker has a market cap of $463mln and is available on Kucoin, among others.
3. 0x:
The 0x project, also known as the ZRX, is defined as an open-source protocol that allows decentralized changes to the ERC 20 tokens as part of the Ethereum blockchain.
0x has a market cap of $303mln and is available on Binance, among others.
4. Kyber Network:
Kyber is a protocol that although within the world of decentralized finance (DeFi), is classified as a decentralized Exchange (DEX) for the exchange of tokens. It presents other functionalities that make it very interesting within the ecosystem.
Kyber Network allows liquidity providers to be integrated into its platform, as well as being a token aggregator and allowing merchants to exchange tokens to receive payments in cryptocurrencies.
Kyber Network has a market cap of $294mln and is available on Binance, among others.
5. Synthetix Network Token:
Synthetix Network Token is a derivatives liquidity protocol on Ethereum which enables the trading and issuance of synthetic assets. Each unit or we can say each Synth is an ERC 20 token that tracks the rate of an external asset.
Synthetix Network Token has a market cap of $240mln and is available on Binance, among others.
6. Augur:
Augur is a decentralized and open-source platform, based on Ethereum blockchain technology. As its name suggests (Augur), the project revolves around a fundamental idea: predicting the future of X markets, events, companies, etc. – mainly financial.
Augur has a market cap of $211mln and is available on Binance, among others.
7. Dai:
Dai is a stablecoin which is launched by MakerDao. DAI comes to give a solution to be able to offer a true Crypto Dollar, that is, crypto that maintaining the value of a Dollar and shares the same properties as Bitcoin.
Dai has a market cap of $192mln and is available on Coinbase, among others.
8. Ren:
Ren is an open protocol meant to enable the permission less and private transfer of value between any blockchain. RenVM is their core product and is mainly focussed on bringing operability to decentralized finance.
Ren has a market cap of $159mln and is available on Binance, among others.
9. Loopring:
Loopring offers merchants, participants, and institutions a decentralized and automated trading execution system that intelligently implements their operations on world exchanges, protecting them from counterparty risk and reducing their trading costs.
Loopring has a market cap of $113mln and is available on Binance, among others.
10. Bancor:
Bancor is a protocol on Ether for non-custodial token exchanges using pooled liquidity. Like Uniswap and Kyber, Bancor does not use an order book, which means the user can trade without the need for a counterparty.
Bancor has a market cap of $109mln and is available on Binance, among others.
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