The Ethereum ecosystem, which has just turned 5 since its birth, has flourished in different directions, making unthinkable projects possible in the world of cryptocurrencies until a few years ago. Think about Stable Coins, Tokens, and DeFi: in half a decade, the development platform Smart Contract has broadened the Blockchain concept and given developers the opportunity to create applications with increasing performance. We are only at the beginning of a path that wants to revolutionize the foundations of finance as we know it. Let's discover the most promising projects in this ecosystem:
1. renBTC
A platform to tokenize Bitcoins over Ethereum by creating expendable ERC20 tokens. These tokens can be used in DeFi projects, using, for example, a decentralized liquidity exchange like UniSwap. Through renVM (virtual machine), users can create renBTC on a 1: 1 basis compared to real bitcoin. This solution is proposed as an alternative to more centralized projects like Bitcoin wrapped, and it is emerging as one of the most interesting sectors of DeFi.
2. Matcha
A decentralized exchange that makes simplicity and design the strong point. The liquidity of the exchange is derived from multiple sources such as 0x Mesh, Kyber Network and Uniswap to obtain the best prices per operation. The simplicity of this platform has the potential for an excellent future.
3. Loopring Pay
A layer 2 platform on Ethereum to solve cryptocurrency scalability issues. Although we are not talking directly about DeFi, this platform is positioned in the payment systems in which we find Lightning Network (for Bitcoin). Loopring Pay allows you to send ETH and ERC20 tokens instantly and for free, saving data within the chain but leaving the transaction calculation outside the chain using the ZeroProof-Knowledge algorithm for confirmation. This project is without a doubt one of the best solutions to Ethereum scalability issues.
4. Lition
A platform to buy and sell energy directly on Ethereum. Here too, as with Loopring Pay, we are not talking directly about DeFi but, to be precise, DeEn, that is Decentralized Power. The platform has its own exchange of energy for the exchange between pairs, therefore, without intermediaries, of energy. In this way, the sale of green energy has a low cost, its producers earn much more and intermediaries are eliminated.
5. mStable
A protocol focused on stable coins and designed to improve the fragmentation of the various coins in circulation. The first product created is called mUSD and it is a metastablecoin compatible with DAI, USDC, USDT and TUSD. In this way, through mUSD, you can redeem in a 1: 1 ratio with any of the underlying stables. The same mUSD can also be used with Aave or Compound to generate returns through commissions and loans.
A protocol that provides secure, inclusive, innovative and transparent crypto financial services for users around the world. Therefore, the project is an additional package for decentralized finance that aims to offer solutions for cross-platform transactions, stable monetary problems and chain payments.
7. Balancer
One of DeFi's most promising liquidity protocols. While Uniswap is an Automatic Market Maker with the ability to support liquidity pools of just two tokens, Balancer reaches up to eight with arbitrary weights. It is still a young project, but it is already among the 10 best values anchored in it.
8. NFTfi
A marketplace for receiving loans using NFT as collateral. This project is halfway between the world of DeFi and NFT, allowing anyone with inactive or unused digital assets to use them as collateral for a loan.
9. UMA’s Synths
A protocol for creating a global and decentralized financial market using synthetic assets. The first product of this protocol is a token that tracks the price of ETH / BTC by relying on an index instead of an oracle. The platform allows users to create their own synthetic assets, so that they can deposit or withdraw, exchange tokens and easily track information on already distributed synthesizers.
10. InfiNFT
An NFT token coin platform whose data is stored in the chain, is therefore more secure, verifiable and transparent. This solution, which cannot be connected directly to DeFi, also seeks to make the use of non-expendable tokens more common and to simplify their operation and maintenance.
This is it, just for now. In future posts we will see more in depth each of these projects.
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