It actively collaborates with other DeFi protocols like COMP to simplify DeFi for everyday individuals. finance is a yield aggregation platform that helps individuals maximise their DeFi investments. Yes! It is the same token whose individual value surpassed that of Bitcoin’s value in Sept 2020. Unless you are living under a rock, you know what YFI is. SNX is directly valued based on how the network it has collateralised functions. Here, Individuals stake SNX tokens as collateral to generate synths and earn rewards from the fees caused by activity on the system. However, each synth token is an ERC -20 token and serves multiple use cases like trading, loans, e-commerce etc. And Synthetic assets are nothing but synth tokens that exposes individuals to multiple markets like fiat, cryptocurrency, commodities etc. Synthetix is a derivatives trading protocol that enables trading of synthetic assets.ĭerivatives trading is when the asset that you are trading in derives its value from an underlying asset. Another appealing aspect of Aave is that it allows borrowers on its platform to alternate between fixed and variable interest rates.Īave is a rock-solid example of a more open and accessible financial system. Here, l enders deposit their cryptocurrency in liquidity pools for borrowers to use the same cryptocurrencies as collaterals to take out flash loans.Īnd the protocol incentivises the lenders by offering them a percentage of the interest earned by lending their cryptocurrencies. Labelled as the first uncollateralised loan option in the DeFi space, Flash loans is Aave’s flagship project. Aaveįirst on the list for me comes Aave, it is a decentralised lending protocol that enables individuals to lend and borrow cryptocurrencies. So, let me break some interesting DeFi projects and cryptocurrencies that you may want to explore: 1. 5 Best DeFi Cryptocurrencies To Explore.
0 kommentar(er)
