Top 10 DeFi Gems

DeFi trading allows you to manage your crypto assets and maximize your earning potential seamlessly. Now, here’s the stuff, if you’ve been following blockchain, you’ve probably heard of 40+ billion dollars of assets recently poured into an emerging industry called DeFi - decentralized finance. For a fact, by the time this article is published, it is pretty safe to assume that DeFi will hit about 100 billion dollars in assets as the industry grows at over 1-2 billion dollars every week.

Here’s a brief definition of DeFi

DeFi is simply a decentralized movement to bring non-custodial financial services to the mass market by influencing Ethereum’s interoperability and smart contract capabilities. 

So in basic terms, with DeFi, the average person could pull their money into smart contract enabled lending pools and earn interest rates up to 20 percent and, in some cases, much more. 

The following companies lead the pack and garnered much attention from leading investors, blockchain stakeholders, and product builders. 

Vesper Finance $VSP

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The Vesper’s DeFi products system is known to deliver a straightforward approach or analytics that can be used to achieve all your crypto-finance goals. 

This DeFi gem is powered by the Vesper token, which is known to provide the primary economic engine that strengthens the building and expansion of Vesper’s capabilities and all of its community. 

Moving forward, the 1st products within the Vesper ecosystem are what is known as ‘Holding pools.’ It’s pretty simple; all you have to do is choose the pool that meets your goals— and Vesper would take care of the rest. 

To make it simple for you: Once you make a deposit, your assets are pooled and automatically deployed to other DeFi protocols, which are all based on your desired strategy and risk tolerance. 

The goal is to earn interest in your chosen asset. Here’s the algorithm: Deposit WBTC, earn WBTC interest, Deposit ETH, earn ETH. 

Vesper finance is known to reduce a dozen steps to a sultry sum; that’s about its yields. With this, you save much time and all forms of money that would otherwise be lost to transactional fees. 

Mirror Protocol  $MIR

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Mirror protocol has been steadily growing in adoption with TVL, nearly doubling over 800 million dollars to 1.5 billion dollars over the past weeks. And the liquidity doubled as well from 360 million dollars to 740 million dollars.  

The Mirror protocol promises you the ability to trade equities every day and anywhere in the world by any person. 

The project runs this by minting synthetic assets, or what they’ve termed as Mirror Assets, mAssets. This was made by and operated on the Terra network, and it’s also said to be powered by smart contracts. 

The way they’re created is meant to mirror the price behaviour of the underlying represented real-world asset. 

In such a way, anyone in the world, for example, a trade-in synthetic, mirrored Tesla’s shares every day from anywhere globally, and the price would be the same as the price of the actual Tesla stock. 

All trading is secured by blockchain in a permissionless system.  

Neutrino protocol $NSBT; 

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Over the past year, the Neutrino protocol has achieved solid success and performance, even passing and surpassing all major milestones. Today, USDN is among the top 10 largest stablecoins by market capitalization. About 38 million WAVES are locked in the smart contract, which is about 360 million dollars at writing this. Nine assets pegged to various national currencies are traded in decentralized Forex, which has brought high returns to its stakers and liquidity providers. 

It was launched in beta 2019 and quickly became one of the most actively sorted after or used decentralized applications in the Waves ecosystem. 

Dafi Protocol $DAFI; 

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Dafi is known to create long-term users by rewarding based on network adoption. All decentralized economies are known to distribute tokens to users. The problem is that distributing tokens when adoption is somewhat low is known to create an excess supply and devalues the overall economy. 

There is no such connection between the release of network supply and network adoption. This, therefore, harms longer-term users and favors short-term participants. With Dafi, it enables all protocols and platforms to make a synthetic flavor from their native token. This is then pegged to the demand of their network and distributed to users. This means its users are still incentivized when adoption is low but rewarded later, not too early. 

BarnBridge $BOND; 

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BarnBridge is simply a decentralized finance (DeFi) lego for creating tradeable tokens known to expose the consumer to market volatility. 

Founded in 2019, this is a protocol for tokenizing risks. And it was also launched in September 2020. 

To put it simply, this is a derivative protocol that comprises current lending rates and yield products into bonds. The said Bonds are offered to DeFi investors at various levels of returns, and risk is dampened by each product’s risk or yield balance. 

Its seed investors include Ethereum DeFi giants like Kain Warwick, the founder, and CEO of synthetix, the leading synthetic asset protocol, and Stani Kulechov, founder and CEO of Aave lending money markets in the ecosystem.  

Band Protocol $BAND; 

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Launched in October 2019,

This is simply a cross-chain oracle used by decentralized apps to pull in data from web-based APIs— which means application programming interfaces— it works with various blockchains, these includes Cosmos and Ethereum— which are something that’s becoming increasingly important as dapps look beyond Ethereum for less-congested blockchains to suit itself with.  

This coin is available on: Binance and Coinbase

Premia $PREMIA; 

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Premia comprises DeFi smart contracts on Ethereum Blockchain, which delivers financial instruments to users. 

The Premia phase 1 is said to deliver functionality to underwrite financial contracts traditionally known as American style, physically settled, Put Options, and Covered Call. 

Premia’s most important issue to solve right now is liquidity. Traders need to find the options they’re looking out for on the marketplace, when they desire them, and at price tags that make much sense.  

Wrapped CrescoFin $WCRES: 

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Wrapped CrescoFin is an ERC-20 equity token launched by CescoFin SA. CrescoFin is a regulated Swiss company that aims to be a bank alternative. It offers a simple interest-bearing deposit on blockchain offering higher returns than a bank.

Wrapped CrescoFin has a total supply of 1.7 million and the last known price of Wrapped CrescoFin is around $30. It has a fully diluted market of $363,576,106.

Bella Protocol $BEL; 

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This is an aggregated user interface meant for current decentralized finance (DeFi) protocols. The ARPA project team created it. 

Bella protocol aims to simplify the user experience of present DeFi protocols and to permit users to deploy their assets and earn yield with much ease. 

Its planned products include; 

  1. Bella Flex Savings
  2. Bella One-Click 
  3. Bella Liquidity Mining 
  4. Bella Robo-Advisor 
  5. Bella Flex savings

This coin is available on: Binance

AirSwap $AST; 

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This is simply a platform for peer-to-peer trading of Ethereum tokens, which means users trade their tokens directly. 

The platform is DeFi or decentralized because AirSwap doesn’t control its funds, and trading execution is done through smart contracts.  This coin is available on: Binance

Final Say

Makers’ dominance over other sector platforms stands 27 percent based on the number of assets collected. 

And it would be right to consult your financial advisor before considering investing in any of these cryptocurrencies, as stated above, as they are known to be somewhat volatile and pose risks for the average investor. 

This post is meant to be brief and informational and doesn’t constitute making outright choices that it’s sure of. 

For more articles about cryptocurrency check out our Top 10 page and follow us on Twitter, Facebook or Instagram.

Written by:  Narender Charan

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