DeHive de-xDai Cluster: Best-Performing Tokens on the Gnosis Chain
Recently, we’ve launched an outstanding Cluster (yield generating index) on the Gnosis (formerly xDai) chain, de-xDai. This crypto index represents the DeFi part of the network and includes nine top-performing tokens that any experienced trader would love to have in their portfolio.
Why index, you might think? The thing is, crypto indexes are composed of multiple assets within one network, which enables greater diversification, lower fees, and better long-term returns than regular crypto assets. And crypto Clusters developed by DeHive are even safer and more profitable compared to other crypto indexes since they use oracles instead of the AMM technology. You can read more about crypto indexes and Clusters in our recent article.
But let’s get back to our de-xDai Cluster and its components, shall we?
If you haven’t read our de-xDai description yet, you can check it out in the full announcement. In a nutshell, the Cluster represents the DeFi part of the market, allowing users to benefit from the most promising assets and trends within the Gnosis financial sector.
Our choice of the network is far from random. Gnosis is a high-performing and extremely stable payments EVM blockchain designed for fast and inexpensive transactions. Gnosis Protocol V2 leverages batch auctions to offer MEV protection, plus integration with liquidity sources across DEXs to provide traders with the best prices.
We were happy to collaborate with the Gnosis (at that time, xDai) chain and launch two indexes on this network, xInfra and de-xDai. As always, the underlyings of the Clusters were carefully selected by DeHive specialists. But why did they choose those exact tokens? Let’s find out!
de-xDai underlyings
de-xDai is composed of eight major tokens of the Gnosis (former xDai) chain and DHV, the native utility token of the DeHive platform. Each of the tokens represents an incredible project and takes a well-deserved place in the DeHive de-xDai Cluster.
Gnosis (GNO) — Gnosis is a suite of products and a whole ecosystem building new market mechanisms for decentralized finance. Their products allow users to securely create, trade and hold digital assets on Ethereum. GNO is a native ERC20 token of the Gnosis ecosystem that is used for staking and redeeming WIZ tokens.
Honey (HNY) — 1Hive is a community building dApps and protocols, which uses Honey as a governance token. The DAO was founded by the team of Honeyswap, a fork of Uniswap on the Gnosis chain, to realize a future that is more free, fair, open, and humane. The community strives to achieve this goal by creating an economic engine that can effectively and sustainably fund public goods. Such a mission makes 1Hive an extremely valuable project not only in the Gnosis chain but in the whole DeFi world.
Agave Token (AGVE) — Agave is a decentralized non-custodial money market protocol where users can participate as depositors or borrowers. It is a fork of Aave protocol-v2, deployed on xDAI, and is being developed by active members of the 1hive community. Depositors provide liquidity to the market to earn a passive income, while borrowers can borrow in an overcollateralized (perpetually) or undercollateralized (one-block liquidity) fashion.
Minerva Wallet (MIVA) — Minerva Wallet is a digital wallet for sovereign data, money, and even identities that users can create in the app and use for a growing number of DeFi tools. It is a native wallet of the Gnosis chain, and the team works in close collaboration with the Gnosis chain and several other projects on the network.
Chainlink (LINK) — Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network (DON), Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement. The Chainlink Network brings value to the whole DeFi community, providing necessary data security between protocols and off-chain sources, which makes it an integral part of the Cluster.
Etherisc DIP Token (DIP) — Etherisc is a decentralized protocol developed to collectively build insurance products that will enable lower operational costs, provide greater transparency, and democratize access to reinsurance investments. The project aims to use blockchain technology to revolutionize the insurance industry, and we are sure they have a bright future ahead.
Symmetric (SYMM) — Symmetric is a DAO-governed cross-chain AMM and a DEX running on the Celo and xDai networks. It offers low fees, customizable pools, and a unique risk fund. The SYMM governance tokens are issued as a reward to liquidity providers and stakeholders, allowing them to vote on the future of the DEX, Symmetric pools and the ecosystem.
Elk Finance (ELK) — Elk.Finance is a decentralized network for cross-chain liquidity, allowing trustless and secure value transfer across multiple chains. It offers impermanent loss protection, dynamic farming, and the first multi-chain native stablecoin, which we couldn’t resist but to include into the de-sDai Cluster. The ELK native utility token is used for value transfer across chains, exchange fees and governance.
DeHive (DHV) — DHV is a native utility token of our own platform. If you haven’t known before, DeHive is a multi-chain asset management protocol that provides smart asset management of tokenized portfolios. In other words, we create crypto indexes to maximize the profit of our users and provide them with a highly secure environment for long-term crypto investment.
We believe that it’s extremely important for all the indexed projects to create synergy and collaborate on new services and overall industry development. Only this way we’ll be able to create a secure and efficient DeFi sector.
Wait, there’s more
Even though the underlyings of this Cluster are already incredible as they are, we’ve also enabled staking and yield farming opportunities to maximize your profit. As always, you can start staking de-xDai on our platform as soon as you join.
Get de-xDai Cluster today and benefit from highly secure crypto indexes with DeHive!
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