- Decentralized Finance is the type of platform which helps to fill the rift that lacks in traditional banking.
- The main purpose of these types of platforms is to provide financial support to its user.
- Defi lending platforms facilitate its user to lend their asset in return they will be getting some interest in the form of cryptocurrency.
- The main advantage of this type of platform is that any individual can take the loan without any KYC or AML checks.
- Defi Platforms do not reveal their identity to third person this makes financial services more accessible.
- These platforms are more secure than centralized lending platforms because of the usage of blockchain.
- It is a decentralized, open-source, and non-custodial liquidity market protocol was users can participate as lenders and borrowers both.
- This company was launched in 2017 by Stani Kulechov.
- Aave was started with a value of $60000 value of ETH token, at present, it values at $5 billion.
- It has created an Ethereum that offers borrowing within a smooth and user–friendly interface.
- It renders a dual defi tokens model i.e tokens and lends.
- It is decentralized lending and borrowing platform that has become one of the best Defi lending platforms.
- Makers are mainly known for Multi- Collateral DAI system.
- It has more than $7 billion tokens locked in the smart contracts.
- The Makers have two main assets: MKR and DAI.
- It was launched in 2015 to overcome the volatility of cryptocurrency.
- DOA is a decentralized lending application on the Ethereum blockchain that supports the DAI, a stable coin pegged to the US.
- It is one of the most well-liked decentralized that is in the developed on Ethereum.
- It helps the user to swap between the ETH and ERC-20 token on-chair or earn a fee by offering any amount of liquidity.
- The good part is that there is no limit regulation on Uiswap.
- The exchange of ERC tokens is done by a very easy user interface in a private, unharmed and non-custodial way.
- It was originated in 2018 and was founded by Hayden Adams.
- At present, there is $4 billion worth of Ethereum tokens enclosed.
- It is a decentralized money market protocol that permits the borrowers and lenders to secure crypto money in the contracts.
- This company is based on the Ethereum blockchain that grants the holders to borrow and lend crypto against the security.
- Here the user has the option to add assets to their liquidity pool and start earning compounding interest.
- Compound allows the users to take out over-collateralized loans and maintain several assets, plus it has been reviewed and formally verified.
- It was launched in September 2018, a San-Francisco-based platform that big investors support.
- Till today they have $6 billion locked up in its liquidity pools.
- It is a reliable smart wallet for decentralized finance.
- The advantage of this type of platform is that it is used as a multi-purpose platform that manages digital assets pretty well.
- With this platform, you can get several services such as borrowing lending, leverage, swap, etc
- They also provide a smart wallet portal for Defi protocols. The highlighting thing is that InstaDApp is free to use.
- It was founded in the year 2018 by Samyak Jain and Sowmay Jain.
- As of now $1 billion are secured in the InstaDApp contract.
- It is a non-custodial trading platform on Ethereum which is geared towards experienced traders.
- It is a type of platform where you can easily lend, borrow and trade DAI, ETH and USDC.
- It also provides users to cross the margin trading and isolated margin trading using the perpetual market contract of BTC/USDC of 10x leverages.
- It was launched in 2018 by Antonio Juliano.
- It is software that operates on Ethereum and endeavors to incentivize a network of users to run a platform where users can purchase and market crypto assets.
- This platform is very similar to Uniswap but there is only one difference is that open source code
- It also uses the collection of liquidity pools for achieving its goals.
- Here the user interface is very straightforward as need to lock up their asset and traders will trade cryptocurrencies from those pools.
- It was founded in 2020 by Chef Nomi with co-founder oxmaki.
- It has around $4 billion trading polls.
8) Dharma Protocol
- It is a tokenized and decentralized finance application that operates on the Ethereum blockchain.
- Here the money lenders, borrowers, and fund managers can exchange transact with each other.
- It will be having a Dharma Settlement contract that apes the traditional financial instrument and stakeholders.
- There are four significant agents operating this network: lenders, borrowers, relayers, and underwriters.
- It was founded in the year 2017 by Nadav Hollander.
9) Curve Finance
- It is a decentralized and liquidity pool created on ethereum for effective stable coin selling.
- It allows the user to trade with very little slippage swaps of stable coin and flow fee algorithm.
- Here the liquidity is split into seven curve pools, which are Compound, PAX, BUSD, Y, REN, USD.
- It was founded in January 2020 by Michael Egorov.
- It has over $4 billion value of digital assets secured in the liquidity pools.
- This is an automated maker built on the Ethereum network that enables you to buy a token at the best prices and swap them directly.
- It is different from other platforms as their liquidity pool comprises only two assets, whereas the pool of the balancer comes with eight digital assets for improving liquidity.
- One highlighting point is that it empowers any weight of any number of tokens within a pool.