Here in the following overview, we have compiled the top 10 Decentralized apps based on 30-day volume.
1. Oasis Trade:
Oasis Trade represents the first step towards creating an all-in-one decentralized finance center (DeFi) where users can exchange their crypto assets, earn interest by saving their Dai at the Interest Rate of Dai (DSR) and access the CDPs of the Multi-Collateral Dai.
This DApp is an updated version of eth2dai.com which is built on the OasisDex Protocol.
The most exciting and salient feature of the OasisDEX Protocol is that it is fully decentralized. By taking advantage of this open-source protocol without the need for permissions, anyone can develop a project on it, and therefore contribute to the liquidity of the DeFi ecosystem.
Launched in August 2019 with EOS blockchain. It supported EOS side chains such as ENU, MEETONE, FIBOS, TELOS, and BOS. Today, it has become one of the largest EOS based decentralized exchanges.
Currently, Newdex has included almost 40 exchange pairs, including the most important ones, such as BLACK / EOS, IQ / EOS, TPT / EOS. Newdex deployed the smart contract based on the mechanism of “matching and settlement on chain“
Compound is an DApp that works on the Ethereum blockchain and allows users to generate interest through their deposits and request loans among the five cryptocurrencies that are traded there: Wrapped Ethereum (WETH), 0x (ZRX), Dai (DAI), basic attention token (BAT), and augur (REP).
Through its protocol, you can make deposits in WETH or any of the above-mentioned tokens, which will offer liquidity to the market. It allows other users to request loans that generate dividends thanks to the interest they accumulate.
It is interesting that when you make a deposit, regardless of the cryptocurrency, you can request a credit in any other cryptocurrency, thus also serving as a crypto exchange.
In Uniswap, there is a separate exchange contract for each ERC20 token. It is a decentralized exchange that allows exchanges between a wide variety of tokens such as Ethereum, Maker, DAI, USD Coin, BAT, etc., and is considered one of the main projects in the DeFi space (Decentralized Finance).
Uniswap was created in 2018 by Hayden Adams with $ 100,000 funding from the Ethereum foundation. It was launched in November of the same year.
Uniswap works with order books. These order books organize all sales or purchase orders that are released to the market at a limited price. Each of these orders indicates the number of titles that you want to buy or sell and the price you want to carry out. All these orders are displayed by the Broker organized by prices in two groups.
1. All the purchase orders ordered in descending order to present the purchase order at a higher price. In such a way that any investor who wants to sell can find the most available price.
2. The sales orders in increasing order, so that the investor who wants to buy will have the lowest price sale first.
5. Kyber Network:
Kyber Network is one of the core projects in the DeFi world. Thanks to the multitude of integrations that it has in both Smart Contracts, DApps and Wallets.
It is an on-chain liquidity protocol that allows swaps to be made on smart contract platforms. It works mainly on Ethereum, although they work to integrate the protocol on other networks such as EOS or Ethereum Classic.
Kyber Networks is a door that connects users to all liquidity pools, always looking for the most profitable swap.
This is why the most important peculiarity in Kyber and what sets it apart from other pools like UniSwap is that it not only acts as a liquidity pool but also offers a “single ending point” interface for all those who need liquidity to perform swaps.
In other words, its interface to access liquidity can be integrated practically anywhere: in smart contracts, DApps, wallets, and vendors, allowing access to liquidity to be enormous and the current barriers to entry due to a large number of tokens.
1inch.exchange is a decentralized on-chain DEX aggregator exchange that offers access to multiple sets of order books. This dApp splits the order to several decentralized exchanges like RadarRelay, Bancor, KyberNetwork, Uniswap, and Exchange to avoid high price slippage. The synergetic effect of its smart contract is substantially beneficial to the Ethereum community.
dYdX consists of several protocols that specify the operation and execution of different types of financial products. At this stage, the developers of dYdX are focusing their efforts on two types of developments: margin trading and options.
dYdX’s Margin Trading protocol uses a main smart contract that is deployed over the Ethereum network to facilitate decentralized margin trading of ERC20 tokens.
Lenders can offer loans to carry out this type of operation with their assets by signing a message containing the information of the loans as well as the amount, the tokens involved, and the interest rates. These offers can be broadcast and listed on off-chain platforms.
The MakerDAO platform has recently launched its Multi-Collateral Dai (MCD) which will mark a radical change in the way Dai is handled today. As you may know, the issuance of Dai derives from the realization of a dynamic system called Collateralized Debt Positions (CDP).
These exchanges use a smart contract to back up and stabilize the value of Dai, so we could say that the market capitalization of Dai is nothing more than a communal debt of all the people who have ever issued a CDP.
All those users who wish to open a CDP to obtain Dai must place Ethereum (ETH) as a guarantee. Once the contract ends, the user returns Dai and the system returns the Ethereum. All this occurs in an automated way and without intermediaries.
9. Aave Protocol:
Aave is an open-source and non-custodial protocol based on Ethereum to earn interest on deposits and borrowed assets with a variable or stable interest rate, in addition to granting and obtaining loans without intermediaries. Loans are made through aTokens, which begin to earn interest as soon as they are acquired.
However, the flow of interest can also be redirected to another direction. Users can borrow different assets, with different guarantee ratios and settlement thresholds depending on the asset, as well as the settlement penalty.
Interest rates generally vary, according to supply and demand. Although, Aave Protocol also allows users to enter and exit a loan at any time at a stable rate that is less volatile, due to a special liquidity reserve. Aave provides unsecured flash loans, which must open and close in the same transaction.
HEX is an ERC20 token which is launched on the Ethereum network. It is designed to be a store of value to replace the Certificate of Deposit as the Blockchain counterpart of the financial product which is used in traditional financial markets.
HEX uses the Ethereum network for the transaction layer, which is sending and receiving HEX tokens, as well as interacting with the HEX smart contract.
The HEX smart contracts penalize stakers to end their stake early and offer rewards to them who staking larger amounts of HEX for longer periods.
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