The DeFi space is seeing a growth in popularity which is not showing any signs of stopping.
In this nascent and rapidly evolving space, there are various projects that are attracting investors due to their strong fundamentals.
Here are the best three DeFi projects that you should be keeping an eye on these days.
Formerly known as ETHLend, Aave began its journey by allowing users to earn interest on their idle tokens by lending to borrowers. It’s important to note the fact that this activity is transparent on the Ethereum blockchain.
The variable interest rate can be earned on more than 20 different assets.
At the moment of writing this article, Aave (AAVE) is trading in the red, and the coin is priced at $412.10.
This project came out back in August 2020, and it allows you to stake its governance token, SUSHI, and also vote on upgrades to the platform.
SushiSwap is an important decentralized protocol, and some important voices in the crypto space are calling it the leader of the decentralized protocols.
At the moment of writing this article, SUSHI is trading in the green, and it’s priced at $14.18.
This is crypto’s leading decentralized exchange. It’s true that the number of decentralized exchanges has been growing, but Uniswap managed to maintain its dominance for a while.
Just to refresh your memory, the UNI token was distributed in September 2020 via a retroactive airdrop.
Anyone who had used Uniswap prior to the airdrop was awarded 400 UNI tokens back then.
Another important issue that is worth mentioning is the fact that users can swap any Ethereum-based token on the market. More than that, if it’s not included on the DEX, it’s simple to add that token by simply copying and pasting the smart contract address.
After trading, users can also earn money by putting the assets sitting idle in their wallets into the protocol.
At the moment of writing this article, UNI is trading in the green, and the coin is priced at $29.19.