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DeFi boom in 2020. DeFi Projects To Watch Out For

Written by:
Aeon Flux
Published on:
29 August 2020
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One of the convenient tools for analyzing key DeFi parameters is the DeFi Market Cap service. It’s like CoinMarketCap, but for DeFi projects. With it, you can see all DeFi tokens, sorted in descending order of market cap. For each of the projects, you can see the Overall supply and Circulating Supply, what protocol it is built on, price dynamics, and links to similar tokens. Another handy tool for analyzing DeFi tokens is. Let’s take a look at 5 interesting DeFi tokens popular this summer.

The Compound was launched in 2017. It’s one of the most known DeFi projects. It’s a system of open access smart contracts built on Ethereum. The Compound is a decentralized lending protocol that allows tokenizing accumulated interest.

Total Supply: 10,000,000 COMP, in active use — 32%. Price at the time of writing:$178.55.

This project was organized in 2016 in Australia.

The MakerDAO platform was launched in 2015. The company introduced its stablecoin only two years later. It has two tokens: DAO and MKR.

DeFi Maker Coin (abbreviated as MKR) traditionally was leading on the DeFi market, until Compound displaced it in June 2020.

Another token on the ERC20 platform. Kyber Network is used as an intermediary in the transfer of tokens from person to person. Moreover, a transaction may include different tokens, and easy exchange takes place during the transfer process.

Total Supply: 210,463,951 KNC, in active use — 92.8%. Price at the time of writing: $1.73.

It is a peer-to-peer Ethereum-based system for assets and tokens exchange. ZRX tokens can be used both as a reward and as a voting tool. The project was created in 2016 and built, like most confident DeFi tokens, on the Ethereum platform.

This summer, DeFi gained phenomenal popularity. Will it last long? As always, there are a lot of opinions. But for now, the future of DeFi looks very confident.

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