Maintaining this ratio – referred to as a cRatio – allows users to earn native inflation along with a pro-rata portion of trading fees from the Synthetix Exchange. In order to mint new derivatives – called Synths – users must stake at least 750% of the Synths value in SNX. Synthetix is a leading derivatives protocol backed by a native token SNX. AAVE can be staked via the Safety Module for AAVE rewards.
Aave is currently undergoing its migration from LEND to AAVE at a rate of 100:1, which you can do through the Migration Portal. Aave – AAVEĪave is a leading lending protocol that leverages a native token AAVE to secure the protocol and participate in governance.
To see which DeFi tokens have the highest market cap at any given time, we recommend this awesome tool from DeFiMarketCap. The tokens mentioned on this list are meant to serve as education and should not be treated as investment advice. With all custodial tokens comes an added degree of trust. Outside of DeFi, centralized exchange tokens like FTT (FTX’s token) continue to perform well amidst retail attention, best highlighted by Celsius’s mysterious ecosystem propelling CEL to new ATHs. Meta-governance projects like INDEX will look to play into the conversation while yield farming aggregators like ALPHA look to capture idle ETH for interest-earning vaults. Compound’s choice to build out Compound Chain signals a sign in this direction, and it’s likely that other key governance tokens like BAL will help shape protocol upgrades in 2020. With Synthetix planning to move to L2 on January 15th and Uniswap soon to follow with Uniswap V3, its likely that these governance tokens will play increasingly important roles in their respective ecosystems. There’s a lot of talk around Layer 2 (L2) scalability, especially with gas costs reaching new highs amidst the ETH bull run. The biggest gainers are those of well established blue chips like AAVE and SNX along DEX governance tokens like SUSHI and UNI. DeFi Token Trends for 2021.Īs ETH rises on a steady tear, select DeFi tokens are fighting to keep up with the growth. We recommend using a DEX like Uniswap or Sushiswap to trade any of the tokens mentioned below. On this page, we take a look at the top DeFi tokens and examine their role within each ecosystem. With DeFi tokens outperforming BTC in 2020, the ecosystem is quickly turning towards popular protocol tokens as a means of value capture for DeFi’s growth.
DeFi has established itself as the top sector for high value tokens.
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