2021 has been the year with the biggest shifts in the DeFi sector. The rise of the DeFi sphere continues to bring some promising platforms to revolutionize digital finance. It would not have been possible a few years ago to create platforms that are purely decentralized and facilitate thousands of people at a time.
Out of all the thousands of platforms that have come up, there are a few that set themselves apart with their innovative services. Here are some of the top DeFi platforms that you can look at in 2022 for a max profit for your crypto assets.
Launched last year, the platform is a global DeFi gateway, facilitating its users by democratizing financial products for all. With its next-generation high-level user interface, it provides multiple financial options for asset owners. EQIFI allows people to utilize their idle tokens in different pools for stacking, lending etc. and generate a passive income, some as high as 70% APY.
Apart from this, EQIFI makes investing as easy as a three-step process, where users identify the type of pool they would like to take part in (stablecoins, ETH or a combination), select their preferred APY and simply deposit their tokens. Profits can be withdrawn at any time and with the help of a regulated bank, these can be liquidated for fiat with ease.
An interest-free protocol for decentralized borrowing and stablecoin running based on Ethereum blockchain. It uses Ether as collateral for lending LUSD.
The users can finalize their borrowing by locking ETH in a smart contract to create a Collateral Debt Position or CDP called trove. This helps the users to have a secure borrowing experience with a higher than average profit.
Ocean Protocol (OCEAN)
Another ERC20 based DeFi platform, Ocean lets users monetize their data through ERC20 data tokens. These tokens wrap the data set into ERC20 for third parties to use securely. Users are offered buying and selling facilities for their data in their platform-based market.
Buyers are allowed to purchase an encrypted reference secured by smart contracts, accessible only when transactions are finalized. Later the transactions are published into a data set. This published data then converts into a token on which publishers can set a price or let it be discovered by the platform’s community by using auto-discovery options. Users can earn by staking, selling, launching their marketplace.
This is for users who want a simple interface for swapping and trading. However, Trader Joe offers a range of device features like staking, yield farming, lending, and community governance for its users.
Its ZAP feature allows users to convert tokens into LP tokens without any hassle. Users can deposit their tokens as collateral to borrow more tokens.
The platform was launched in 2018 and works on the Ethereum network as an open-source money market, enabling users to borrow or lend against collateral. People can participate without any restrictions and requirements in the platform’s liquidity pool and can start their earnings on their asset holdings. The interest rates on Compound according to the supply and demand of their user community.
Curve Finance is a decentralized exchange protocol that offers to swap and trade Ethereum-based assets. The sole focus of Curve Finance is to offer liquidity by utilizing a market-making algorithm that automatically trades assets along with profiting from the bid and ask price spreads, which incentivizes users to add their funds to the overall pool and earn interest.
The DeFi has a lot to offer in the coming years and many promising projects are already revolutionizing the path for an easy and user-friendly decentralized finance sector. The game, however, lies in making the experience as smooth and profitable as possible.