The best spot for an intriguing adventure to everything crypto.
The growth of Defi is remarkable, with the industry making great strides in the past few years. It's quite right to conclude that this industry is probably the next big thing in the financial world, primarily owing to the many use cases of the upcoming projects.
Decentralization of finance was the main idea in Defi's creation, and many of the platforms have lived up to that promise. However, with the strong surge in Defi, it's quite challenging for any investor to make conclusions about which project is worth their money.
You probably are that investor and wonder what Defi projects show unique features and maybe a potential to grow? Here are some of the most unique Defi projects you should check out for in 2021.
Kava is a Defi lending platform offering its users USDX stablecoins loans, thus introducing the crypto market's utmost flexibility. Like chainlink, Kava is known for its cross-chain capabilities and its vast array of stablecoin loans. There is a considerable probability that Kava will add bitcoin to its supported coins in the future.
As of the time of writing, coinmarketcap reports that Kava was among the best performing Defi platforms, with a $70 million market cap.
To ensure all the loans are well collateralized, Kava leverages a protocol dubbed 'collateralized debt position'. Among Kava's unique features include;
The Ren protocol was initiated with the main aim of providing interoperability between blockchains platforms. The protocol has its native token REN which mainly operates as a bond for the persons running power RenVM Darknodes.
It aims to remove the issues of interoperability and cross-blockchain liquidity. According to Coinmarketcap, the REN protocol has a market capitalization of over $300 million.
Among some of REN's best features include;
Defi Yield Protocol is a smart contract-based network designed to decentralize liquidity provision to everyone on the platforms. It merges an Ethereum mining pool and yield farming to ensure maximum profitability.
For instance, in 24 hours, DYP users earned about 47.69 ETH. Moreso, in just the first 18 days live, the platform's liquidity providers made 609.98 ETH, an equivalent of $652 thousand.
Currently, the most outstanding DYP feature is it's resistance to market manipulation. Due to it allowing everyone to provide liquidity, whalers will not have superiority when causing shifts in prices.
Although the platform is already feature-rich, DYP will soon be introducing better systems to ensure better service provision and rewards. Among the features include;
Within the next two weeks, DYP will be launching new staking pools with DYP tokens, leading to a total number of 4 DYP staking pools.
The staking pools' rewards will depend on the lock period, with the lowest reward being 20% and highest being 35% APR, and the lock time ranging between 30 and 120 days.
There will be a RE-INVEST function allowing investors to plow back their rewards without being charged any fee.
DYP referral program will credit 5% of rewards received from referred friends to the referee.
However, with all those features, DYP is still working hard to give even better products like;
Band protocol is a platform that collects real-world data taking it to on-chain applications, and also creating some links for exchanging information between on-chain and off-chain data sources.
Therefore, the Band protocol gives a gateway for users/developers to get any form of real-world data and use it. Band protocol later launched on Cosmos and reached even more expansive grounds including accessing more real-world data like sports results, insurance, weather etc.
Among some of its best features include;
Ox is a Defi protocol designed to eat the process of Swapping ERC20 tokens built on the Ethereum network. The protocol can scale-out things in the Ethereum blockchain, enabling the chain to be more scalable, thus handling more transactions.
Ox network's good performance is increased speed, security and immutability of the Ethereum blockchain.
In coinmarketcap, Ox is among the top 20 best performing Defi platforms, with an adequate market capitalization. There are currently 1 billion ZRX in circulation.
Unique features from Ox include;
The Ren protocol provides powerful tools, in multi collateral lending, and cross-chain trading. The band protocol offers top speed, compatibility and proper smart contract integration.
Ox protocol offers top solutions to the Ethereum blockchain, including scalability. Kava is an excellent USDX stablecoin lending platform, opening a world of opportunities for users. Defi yield protocol, a feature-rich platform that guarantees users top stability with features like resistance to manipulation, and the earn feature to help users maximize income.
Create your free account to unlock your custom reading experience.