Concepts such as cryptocurrency and blockchain are increasingly gaining ground and support at the macro level.
Another concept that is completely trending today is DeFi. Or well known has, Decentralized Finance. But since I'd rather be lazy than tired, I would like to use the abbreviation DeFi. It also saves time typing, which is nice!
In this article i will be writing a complete overview of all high-profile DeFi projects and initiatives that have been developed in recent years. Take your time, because it's a long list !
Before I go into all the terms like trading, lending, wallets and various other DeFi applications, it might not hurt to first consider the concept of DeFi in itself. Because what exactly is DeFi? I already explained that in my prevision article( 6 Best DeFi Coin to Buy : And History of Defi Coins ) or you can Watch the youtube video below to have a good idea of the entire concept of DeFi.
All DeFi projects
DeFi projects come in all shapes and sizes. Some initiatives are aimed at consumer financial services while other initiatives are aimed at 'engagement' from companies. Alternatively, it may aim to provide a technical solution that connects multiple platforms.
Before proceeding further, it will be wise to differentiate all DeFi projects into different categories.
main categories:
DeFi Lending (loans)
DeFi Trading (trading)
DeFi Payments (payments)
DeFi Wallets
DeFi Infrastructure (software & protocols)
Communities
I believe that DeFi is much more than a platform for borrowing, lending, or trading crypto. DeFi Almost a way of life here in crypto space. DeFi is gaining huge popularity with hordes of fans, and it is starting to be considered a new way to position financial services for the digital age.
DeFi Lending (loans)
DeFi Lending is all about borrowing money or crypto or earning interest when you lend money or crypto via a platform. This does not mean that all DeFi projects below are platforms where you can purchase or perform these services.
Example of DeFi lending platform or website;
Aave - an open source and non-custodial protocol to earn interest on deposits and borrow assets
Acropolis - a collateral credit protocol aimed at optimizing DeFi returns and sharing interest rates
Atomic Loans - a lending platform that accepts reliable BTC collateral via custom Bitcoin scripts
bZx - a decentralized protocol that allows borrowing and borrowing for margin trading
Compound - an open-source money market protocol on Ethereum that allows users to borrow or borrow assets against collateral
DeFiner - a globally available, decentralized lending marketplace to securely borrow and lend digital assets through smart contracts
Maker - a decentralized credit platform on Ethereum that supports Dai, a stablecoin whose value is pegged to USD and backed in ETH or BAT
Nitrogen Network - a decentralized P2P secured loan network
Raise - Raise is the investment platform that offers you attractive, safe investment opportunities with a higher market return.
Swap Rate - a DeFi interest rate swap tool based on the Opium protocol
DeFi Trading (trading)
There is always a supply and demand side to trading. It is always necessary to have a platform that connects buyers and sellers, regardless of whether it is a marketplace or a trading floor.
Example of DeFi trading platform or website;
Augur - a decentralized oracle and peer-to-peer protocol for prediction markets on Ethereum that allows anyone to create a market around the outcome of a real event
ACO - a decentralized and non-custodial trading protocol for options
Balancer - a non-custodial portfolio manager, liquidity provider and price sensor
Bancor - a protocol on Ethereum for non-custodial token exchange with pooled liquidity
DeversiFi - a fast, non-custodial Layer 2 exchange built with STARKs technology, enabling over 9,000 tps with deep liquidity, low cost, privacy and speed.
DEX AG - a trading interface that offers you the best price from 11 different DEXs
dYdX - a non-custodial platform on Ethereum aimed at experienced traders
Gnosis Protocol - a fully decentralized trading protocol that allows anyone to add a trading token pair
Hegic - an on-chain peer-to-pool options trading protocol built on Ethereum
Helena - a smart contract platform with gamified prediction markets
Jelly Swap - a peer-to-peer trading tool for various blockchains with atomic swaps
KyberSwap - a permission-free cross-chain atomic swap protocol, which allows tokens to be traded between different chains
Leverj - a secure and decentralized high-quality plasma exchange
Local Ethereum - a non-custodial peer-to-peer ETH marketplace with end-to-end encryption and on-chain escrow.
Loopring DEX - a non-custodial Layer 2 DEX built on top of the Looping protocol
Market Protocol - a protocol on Ethereum that provides tokenized leverage trading of any asset through synthetic pricing
MCDEX - a decentralized derivatives trading platform for perpetuals & futures
MerkleX - a decentralized exchange that uses a decentralized clearing network. Merklex allows traders to set limits on what can happen to their money.
Nuo Network - a non-custodial platform on Ethereum that offers a decentralized debt market. Users can lend, borrow or margin trade any supported crypto asset
Ren - a provider of inter-blockchain liquidity for all decentralized applications
Set Protocol - a protocol designed to create, manage, and obtain baskets of tokenized assets
Synthetix - a decentralized platform on Ethereum for the creation of Synths: synthetic assets in the chain that track the value of real-world assets
Tokenlon - a DEX with off-chain matching and on-chain settlement via 0x via
UMA - a decentralized protocol to enable the creation, maintenance and settlement of financial contracts for all underlying assets
Uniswap - a fully decentralized on-chain protocol for token exchanges on Ethereum that uses liquidity pools instead of order books. Read more about Uniswap in our extensive explanation about this decentralized platform.
Veridex - a mesh-connected 0x relay with trading, swap and market making tools
DeFi Payments (payments)
Payments are, of course, essential for the world to function we just cant leave without it.
Example of DeFi Payment platform;
Flexa - a payment network that enables merchants to accept digital currencies without the risk of fraud or volatility from off-chain collateral.
Fuse - a blockchain payment integration for businesses
Request Network - an open network for transaction requests. It allows anyone to create, store and access invoices and receipts in a universal, decentralized network.
DeFi Wallets
The best known is probably MyEtherWallet , but there are many more! Watch:
Alpha Wallet - a mobile wallet built for Dapps. Do everything with just a few taps.
Argent - a secure smart contract wallet built for simplicity, security and usability.
Ash - a wallet interface focused on asset management from DeFi powered by Melon Protocol
Atomex - a multi-currency HD wallet with built-in hybrid atomic swap exchange
DEXWallet - a mobile wallet for decentralized finance
Eidoo - a non-custodial wallet that allows users to store, exchange and transact cryptoassets with a wide range of DeFi services and tools
Math Wallet - a multi-chain non-custodial wallet with built-in browser functionality and DApp store
Meet.One - a multi-chain DeFi wallet, non-custodial and easy to use
Monolith - a decentralized banking alternative powered by Ethereum
My Crypto - an easy to use app that allows you to create, import and manage all your wallets
My Ether Wallet - a free, easy-to-use and open-source client-side interface that helps you interact with the Ethereum blockchain
Gnosis Safe - a secure way to manage money and communicate with decentralized applications on Ethereum
HB Wallet - a non-custodial DeFi-compatible wallet available on multiple platforms
Poketto - a wallet you can show your parents
DeFi Infrastructure
Many DeFi projects and protocols are open source software so other developers can work with the code, improve it, or put their own spin on it.
0x - a protocol for p2p exchange of tokenized assets. ZRX is the management token that allows you to vote on protocol upgrades and earn liquidity rewards shared by liquidity providers.
Ampleforth - a digital asset protocol for smart commodity money.
Augmint - a smart contract platform that issues stable tokens 1:1 to the EUR, backed by collateral
Betoken - An open crypto fund managed by code and meritocracy
Connext - a non-custodial layer 2 payment channel technology that enables off-chain, instant payments with low (or zero) transaction fees, helps scale the Ethereum network and paves the way for use cases such as micropayments
DAI - a decentralized stablecoin pegged to the US dollar
DFOhub - an Ethereum-based research and development project that provides a framework for DFOs, on-chain companies with proprietary assets and voting coins as programmable stocks
EPNS - a service that allows dApps, Smart Contracts & Services to send decentralized push notifications to their users
Lightning Network - a Layer 2 protocol on top of Bitcoin that aims to improve scalability by moving small and frequent transactions off-chain, enabling fast peer-to-peer transactions and low fees.
Liquidity Network - a Layer 2 scalability solution that enables gasless, near instant, reliable transactions and token swaps
Loom Network - a DPOS Layer 2 scaling solution that allows developers to run large-scale applications on top of Ethereum
Loopring - an open source protocol for decentralized exchanges designed to provide matching-as-a-service, and the orders are unidirectional and do not differentiate buyers and creators giving full control to traders
mStable - a single standard that unifies the exchange and lending of stable coins, which also reduces friction and fragmentation
Neutral - a meta stablecoin system built using a basket of multiple stablecoins to generate a lower volatility token with a reduced risk profile
Nest - a decentralized and transparent price oracle network
Nexus Mutual - a decentralized insurance platform where people can share risk, especially against smart contract bugs, failures or other black swan events
Opyn - an insurance and risk management layer for DeFi
PhishFort Protect - a crypto open source browser plugin that protects users in the DeFi space from phishing
pToken - a reliable and transparent 2-way peg to teleport tokens across blockchains, without friction
rDAI - a DeFi primitive that splits principal and interest in DeFi investments and streams accrued interest to chosen addresses
Reserve - a decentralized stablecoin protocol that enables global and frictionless payments
Tokentax - an easy-to-use cryptocurrency and DeFi tax calculator
USDx - USDx is a decentralized and synthetic indexed stablecoin introduced by dForce. USDx's underlying stablecoins are USDC, TUSD and PAX
WBTC - an ERC20 token that has Bitcoin as its underlying asset. 1 BTC = 1 WBTC
xDai - an Ethereum sidechain with 5 second block times, low gas prices and a native token also called xDai.
You can also read; DeFi Infrastructure 101 — Overview & Market Landscape published on Medium by Chris McCann.
DeFi Communities
There are countless forums, shared drives and places where you can talk or discuss DeFi and follow existing , new projects or contribute to them yourself as a developer.
I have put together some renowned communities;
Concourse Open Community - an open community of builders, enthusiasts and researchers working towards a free, abundant and decentralized future for all
Dai para principiantes - a Spanish-first Dai and Defi educational website, tutorials & active community
DeFi Nation - a DeFi-focused community with discussions, walk-throughs, Q&A calls and more
Ethereum Italia - an Ethereum-focused community in Italy with a strong presence on all social media
Hola DeFi - a DeFi product directory for the Hispanic community
In conclusion I can say DeFi is everywhere and it’s almost impossible to imagine life without it.
Project link Credits: https://www.cointelescope.com/post/most-comprehensive-defi-application-list
Good one