This review presents ten most promising DEFI platforms in the cryptocurrency lending segment of Xangle analytical company
Best DEFI PLATES 2021
Decentralized Finance (Defi) opened cryptocurrency holders with access to various financial services, including lending. In 2020, many DEFI platforms for P2P lending in digital assets appeared on the market. Borrowers got access to quick and profitable loans in cryptocurrency, and lenders - the ability to get passive income.An analytical company Xangle has prepared an overview of decentralized credit platforms to pay attention to 2021: from recognized dominant companies to young projects that have yet to prove themselves.
Compound
Compound is a credit protocol based on several projects at once, including CURV, COINTRACKER and BITGO. At the time of this writing, the market capitalization Compaound exceeded $ 740 million dollars. According to the developers, Compound is a "autonomous interest rates protocol to create financial applications."
Aave.
Aave is an open source protocol created to serve the Defi sector. Users accommodating assets on the AAVE platform receive interest in their deposits. Those who want to take coins on credit, can also do this through AAVE. The draft project states that the size of assets posted in the protocol reaches $ 2 billion. The platform supports DAI, REP, MKR, ETH, UNI and USDC, as well as some other digital assets.BZX
BZX is a credit protocol on the basis of which decentralized FulCrum and Torque credit platforms are created. Fulcrum offers users the opportunity to participate in margin credit, and on Torque, you can take a loan for an indefinite period under a fixed percentage. BZX supports two types of tools: itokens and ptoken. In addition, in July 2020, the project launched its own BZRX token. All three asset play an important role in the functioning of the system.
Yearn.
Yearn is a set of DEFI products that are currently being in beta testing. Lending is among the services offered in the Yearn package. In particular, the branch of yborrow.finance (in beta versions) intended for crypto lending. Yearn invests the liquidity that creditors provide, in other DEFI lending protocols, seeking high profits to provide liquidity providers.dydx
DYDX is a platform for cryptocurrency trading, which also offers lending services. Users can borrow any asset supported by the DYDX Exchange, provided that they can provide a deposit to provide their loan. Lenders earn interest, and DYDX adjusts interest rates of creditors, taking into account the market situation. On the DYDX platform, available to lending to the ETH, USDC, BAT, WBTC, DAI and COMP.
Maker
Maker is a major player in the DEFI space and one of the first in decentralized credit protocols. Maker based on the Oasis Borrow credit platform. Here you can place your assets in the "repository" and earn interest due to DAI generation, a stelkin attached to the US dollar. At the time of writing the article, the market capitalization of Maker exceeded $ 1.1 billion. The protocol users place one cryptocurrency, usually ETH, in exchange for a loan in DAI.Nuo Network.
Nuo is a decentralized network for cryptocurrency loans and lending. Users providing liquidity on the NUO platform are able to trade with margin and leverage to 3x. This functionality attracts new users to Nuo Network.
mstable
Mstable - This platform gives users a source of passive income. Liquidity providers in MSTABLE earn the MTA tokens as a remuneration. All transactions in the MSTABLE infrastructure are performed using smart contracts.Instadapp
Instadapp is a Multifunctional Defi platform. Lending and borrowing is one of the functions of Instadapp, while developers using the platform toolkit can integrate these functions into their protocols.
Dharma Protocol
Dharma Protocol was launched in 2019 as a R2P lending platform. The uniqueness of the project is that liquidity suppliers receive fixed profits and do not depend on the volatility of the cryptocurrency market. The fundamental model of crediting Dharma is "long-term fixed loans with a fixed interest rate". Users can also exchange, buy and sell cryptocurrency using the Dharma protocol.Kittie.
Undoubtedly, one of the most interesting projects of decentralized lending in DEFI. Kittiefight combines a massive multiplayer online game Cryptokitties with decentralized lending (yes, kittens and lending). Kittiefht seeks to go beyond the traditional stimuli due to the process game. Users spend money on the game and make funds in the hope of winning the jackpot in ETH, these coins go to support the development of the KittiFight protocol.
MainFrame.
Mainframe offers "Defi-lending with a fixed rate" "any" who can provide cryptocurrency as collateral. Initially, MainFrame was conceived as a platform for communications, but in 2020 the developers have added a cryptocurrency lending functional to a fixed interest rate.Celsius Network.
CELSIUS Network creators claim that cryptocurrency loans must be accessible to everyone. Celsius liquidity providers earn up to 13.86% per annum in US dollars, 7.21% in ETH and 6.2% in Bitcoins. Lenders can pick up their funds share at any time. Celsius Network also offers loans with an annual interest rate from 1%.
conclusions
There is no doubt that cryptocurrency is already a framed trend that will gain momentum. Large economies go along the path of digitalization, and digital payments gradually displacing cash, coins and checks.
Cryptocurrencies include our lives, and the next stage of the development of the cryptocurrency market is access to services and services. Lending is one of the fundamental elements of the traditional financial system and the main component of decentralized finances.
Holders of cryptocurrency want their coins to work for them and brought them income. Everything that is needed is to place them on credit platforms. Borrowers are looking for the opportunity to earn with the use of margin.
Lending is the driving force of the financial system, and the above platforms for decentralized lending will retain its relevance in 2021.
The POST Ten most promising DEFI platforms 2021 - Overview of Appeared First On Beincrypto.