New & Upcoming DeFi Aggregators on HECO, Solana, and Terra
Decentralized Finance (DeFi) is becoming the beloved innovation that greatly reduces the learning curve for users to get started. Total valued locked (TVL) has reached $54.63 billion, up from $15.74 billion on December 31st, 2020. Yield farming has been an immensely popular activity for cryptocurrency holders since the explosion of DeFi.
Yield Farming, in essence, is the process of locking up funds and getting rewards for doing so. You essentially lend your cryptocurrency holdings through different DeFi protocols and interests as a result of your efforts. These rewards can be much greater when you compare them with traditional investments, in return, the risk is a lot higher as well.
While these individual protocols offer great returns on lending your cryptocurrency holdings, it may be cumbersome to swap, sell, and trade your asset when the financial information is spread across multiple blockchain protocols. As such, DeFi aggregators help solve the issue by allowing cryptocurrency holders to trade across decentralized exchanges (DEXs) into a single place. DeFi aggregator not only saves users a lot of time and increases their efficiency, but has evolved to mitigate high trading commissions and optimize returns.
There are various types of DeFi aggregating platforms and each of them provides different merits. For instance, Zapper and Zerion allow you to manage DeFi assets and liabilities from a single interface. There are Matcha and 1inch that specialize in working out the best rates among different decentralized exchanges.
Below are a few new and upcoming DeFi aggregators that provide a new and unique angle for users to maximize their returns.
King DeFi is the first AI yield aggregator for Binance Smart Chain (BSC) and Solana (SOL). It provides an intuitive dashboard to monitor asset activity with advanced analytics such as on-chain ratio analysis and historical performance checking. KingDeFi shows users the most consistent pools with the highest performing yields across BSC and Solana. Later this year, KingDeFi will allow users to monitor yield returns, fees, and consolidated performance.
PickFinance is a yield mining platform on Huobi ECO Chain (HECO) by smart pairing staking single coin staking with no entry and exit fees. It uses intelligent hedging methods to optimize yield farming returns, giving competitive yielding percentages. At the same time, there is no lock-up period and high-frequency trading minimizes the risk of impermanent loss generated by liquid pool mining. PickFinance provides an intuitive interface with tutorials to guide users to get on board and does not introduce a new token but instead payout rewards in MDX.
ApolloDAO is a yield aggregator on Terra. ApolloDAO is building the first yield management platform leveraging cross-chain and complex DeFi strategies, exploring NFT gamification, and other innovative wrapped savings products, and ultimately a DAO to govern a capital warchest. The team stated that “ApolloDAO was created for Terra DeFi users by Terra DeFi users and aligned with the broader Terra mission of bringing mass adoption to DeFi on Terra” ApolloDAO will be released later this year.
DAGG Trade is set to build a DEX aggregator protocol that brings the value of all DEXs and DeFi protocols together in one easy-to-use platform on Solana. DAGG’s mission is to make DeFi trading simple and efficient. DAGG is set to launch in Q4 2021.
Intuitive and simple user experience has become the main goal for new DeFi aggregators. There are plenty of platforms out there that offer high yield returns, but many of them are often challenging to use. DeFi aggregators nowadays not only need to provide tools for users to make an educated decision on their investments but also easy-to-use at the same time. The new and upcoming DeFi aggregators are set to make the user experience great and simple while reassuring that they can get the best strategies they decide to pursue.
