Most popular DeFi dapps – 22 Feb – 27 Feb 2020 – Dapps of the Week
It is important to continually measure success and take a look at how individual dapps are performing. The top 5 decentralized finance (DeFi) apps have reached almost 6,000 daily active unique wallets in the last 7 days.
Let’s have a look at the list of top DeFi dapps:
The Maker Protocol, also known as the Multi-Collateral Dai (MCD) system, allows users to generate Dai by leveraging collateral assets approved by “Maker Governance.” Maker Governance is the community organized and operated process of managing the various aspects of the Maker Protocol.
Compound is a protocol on the Ethereum blockchain that establishes money markets, which are pools of assets with algorithmically derived interest rates, based on the supply and demand for the asset.
Suppliers (and borrowers) of an asset interact directly with the protocol, earning (and paying) a floating interest rate, without having to negotiate terms such as maturity, interest rate, or collateral with a peer or counterparty.
Individuals with long-term investments in ETH and tokens (“HODLers”) can use a Compound money market as a source of additional returns on their investment.
dYdX is a decentralized exchange for margin trading and eventually derivatives. With dYdX users can trade, borrow, and lend any supported asset powered by smart contracts on the Ethereum blockchain.
Powerful financial products like margin and derivatives are essential. But access to these tools is very limited by location and status. dYdX solves these problems by giving everyone, everywhere access to high-quality financial tools directly from their wallet to the blockchain.
The Aave protocol is a decentralized, open-source, and non-custodial money market protocol. Depositors earn interest by providing liquidity to lending pools, while borrowers can obtain loans by tapping into these pools in both an overcollateralized or undercollateralized way.
The Aave protocol is unique in that it tokenizes deposits as aTokens which accrue interest in real-time. It also features access to highly innovative flash loans, which let developers borrow instantly and easily; no collateral needed.
The Fulcrum portal is a front-end web interface for interacting with the bZx smart contracts. Fulcrum is built on the bZx base protocol and extends the protocol by allowing both loans and margin positions to be tokenized.
Tokenized loans, called iTokens, are for letting the user lend their assets and earn interest. Tokenized positions, called pTokens, are for gaining long or short market exposure to an asset, and for letting the user trade with borrowed funds and with leverage.