Top 5 DeFi DApps in 2019
as of December 2019
Decentralized Finance, or DeFi, is a movement in the crypto community to create financial products which are decentralized and uncensorable. There are no gatekeepers. All you need is a wallet and some crypto.
Let’s see which are the top 5 DeFi DApps in 2019 as of now:
MakerDao— Stablecoin DAI
MakerDAO is a protocol behind the stable coin DAI — a cryptocurrency that maintains a 1:1 peg to the USD. Think of 1 DAI as $1. What makes it unique is each DAI is backed by Ether instead of a 3rd party claiming to have the required collateral. Since Ether is volatile this poses some interesting challenges to maintain the peg.
InstaDApp
InstaDApp presents an easy-to-understand front-end portal with an underlying smart wallet layer that visualizes a user’s position across a variety of DeFi platforms. It also leverages smart contracts to translate simple user actions (like moving an asset from one platform to another) to the necessary computational steps necessary to execute those actions.
dYdX
dYdX is a powerful open trading platform that currently supports three features:
dYdX is a decentralized application, so all your holdings are managed and stored on the blockchain using smart contracts; there is no intermediary or third party involved. Anyone can use dYdX without having to register an account or trust a centralized party with possession of their assets.
Kyber Network
Kyber Network is an Ethereum-based protocol that allows the “instant exchange and conversion of digital assets (e.g. crypto tokens) and cryptocurrencies (e.g. Ether, Bitcoin, ZCash) with high liquidity.” It’s similar to the 0x project but instead performs all its actions on the blockchain.
Compound Finance
Unlike previous lending markets on exchanges such as Bitfinex or OKEx, Compound Finance does not hold funds custodially. Instead, the cryptocurrency on the platform is held by smart contracts — software on the blockchain.
Every asset on Compound has a smart-contract-based money market. Loans by users are pooled into these markets. This pooled liquidity approach allows Compound to provide good liquidity on each coin it supports.
Originally published at http://thedapplist.com on Dec 2nd 2019.
