August 28, 2020

Top 4 DeFi Projects You Should Closely Follow

The Decentralized Finance (DeFi) market has been growing in recent months and there has been an incredible number of investments in these companies

The Decentralized Finance (DeFi) market has been growing in recent months and there has been an incredible number of investments in these companies. The entire crypto market has also been in a bullish mode for the last months and we could certainly see DeFi projects attracting new investors and attention.

In this guide, we will be sharing the top 4 DeFi Projects you should closely follow if you want to be updated with the latest trends in the market. The entire space is expanding and users are currently searching for the next winning projects in the space. 

Top 4 DeFi Projects

These are the top 4 DeFi Projects you can find in the market.

  1. Aave

Aave is the first of our top 4 DeFi projects we will share with you in this guide. Aave (LEND) is a project that has been growing in the last years and it is considered to be an open source and non-custodial protocol that enables the creation of money markets. 

Users can start earning interest on their deposits and borrow assets. The protocol market size is currently $1.71 billion and some of the assets supported include stablecoins such as DAI, USD Coin (USDC), TrueUSD (TUSD) and Tether (USDT) among other coins such as Ethereum (ETH) or Basic Attention Token (BAT). 

The main goal behind this DeFi Project is to focus on creating a transparent and open infrastructure for decentralized finance around the world. Nowadays, Aave is the largest DeFi project in the world and it has $1.52 billion locked in USD value, according to data provided by DeFi pulse. 

  1. Maker

Maker is another large and established DeFi project that has been operating for already more than a year. The company is now the second largest in the DeFi market as reported by DeFi Pulse. 

The company is working on the Ethereum blockchain and it aims at providing stability to the DAI stablecoin in the market. This works by using a dynamic system which is called Collateralized Debt Positions (CDP) in combination with other solutions such as autonomous feedback mechanism and incentivized networks. 

The MKR token will fluctuate according to how DAI performs in the market in order to help it reach its $1 value. The goal is to keep it as close as $1 as possible. This is why MKR tokens will be created or destroyed accordingly. 

Since it was launched, MKR registered a return on investment of 2,700% and it is currently being traded at around $619. It also has a market cap of $622 million. Currently, there are more than $1.43 billion locked in this DeFi project.

  1. Curve Finance

Curve Finance has been evolving as a decentralized exchange liquidity pool that was developed on top of Ethereum and created so as to offer one of the best stablecoin trading markets in the world. The project was launched back in January 2020 and it became the third-largest DeFi project in the world in just a few months. 

At the moment, the firm was able to create 7 different Curve pools that include some of the largest stablecoins in the world. These stablecoins include Compound, Paxos Standard (PAX), Y, Binance USD (BUSD) ren and sBTC. Users can simply swap stablecoins or provide liquidity to these Curve pools and users will earn fees using the platform. 

In recent months, the Curve Finance protocol was able to gather $1.28 billion which are now locked. In this way, the firm became the third largest DeFi project in the world. 

  1. Yearn Finance

The last one of our Top 4 DeFi Projects list includes Yearn Finance. This company was able to gather almost $900 million in funds locked in just a few weeks. This shows the large interest there is for DeFi projects around the world. 

The company is providing aggregation services that would allow users to get information about Aave, Compound, Dydx and other projects in the DeFi market. Thus, Yearn Finance is working so as to make it easier for users to find the DeFi projects they are looking for. 

Users will be able to deposit funds on the platform and receive yTokens. This would create an Automated Market Maker with other digital currencies such as yDAI, yUSDC and yUSDT. Users will earn lending fees and also the trading fees on the platform. 

The YFI token is also one of the most attractive in recent times considering that it had a value of over $15,000. Nowadays, this is one of the most promising projects in the DeFi market. 

AltSignals Team

Proficient authors guiding you with transparency, integrity and education through the finance international markets

The AltSignals writing team consists of experts dedicated to the world of finance and technology, with a particular focus on cryptocurrencies and forex. Our writers bring a broad range of knowledge and experience, cultivated through years of arduous and direct involvement in financial markets, as well as intense technological collaboration.

Editorial approach

At AltSignals, we believe that transparency and education are the key to empowering our readers. Therefore, our content is meticulously researched to ensure its accuracy and thoroughness. Each of our articles is created with the aim of providing educational insights and in-depth analysis, helping both beginners and experienced traders.

Commitment to quality

Integrity is certainly the foundation of our editorial process. The team follows rigorous journalistic standards with careful review, all to ensure that each publication is meticulously researched and exceeds our readers’ expectations.

Our mission is to provide analysis that informs as well as guides users and enthusiasts through the complexities of the cryptocurrency and forex markets. In line with our motto of “quality over quantity”, we guarantee that only the highest quality trading signals are published.

In addition to our commitment, which extends beyond the simple transmission of useful information, our in-depth analysis focuses on profitability and effectiveness squarely, avoiding the common industry habit of prioritizing profit over accuracy. Our traders are strategic experts who offer personalized help to those seeking worthwhile portfolio management tactics.

Diverse knowledge

Our authors are proficient in a variety of topics across the financial spectrum, from emerging trends in blockchain to the nuances of forex trading. This diverse range of knowledge allows the team to cover several topics, ensuring our content is always comprehensive and deeply specialized.

Interactivity and support

We understand that the world of trading can be complex for many. Therefore, alongside producing informative articles, our team is also committed to interacting with the community. Through comment sections, forums and direct support, we encourage our readers to seek clarification and sharpen their understanding, promoting an environment of continuous learning.

Future vision

Looking to the future, the AltSignals writing team is imbued with a vision that transcends regular publishing, and continues to dedicate itself to discovering and reporting on the latest innovations and trends available in the market. We are constantly seeking to improve our skills and expand our knowledge, with the ultimate goal of being a reliable and respected source in digital financial journalism.

There is great commitment to discovering and reporting not only the latest news and trends in the market, but also to equipping our readers with the tools they need to navigate volatile markets with confidence. We firmly believe that, with the support of an appropriate platform coupled with accurate guidance, our readers and traders can turn market volatility into a competitive advantage.

Join us

Follow AltSignals to stay up to date with the latest developments in the world of finance and technology, and explore how our insights can help improve your trading strategies. The AltSignals team is here to guide you through the exciting, dynamic and challenging world of financial markets.

Latest posts author AltSignals Team

Latest posts from the category Cryptocurrency