Avalanche DeFi ecosystem is growing at a rapid pace. Almost every week we see new projects entering the market. But what applications are heavily used and have positioned their tokens as bluechip Avalanche DeFi tokens.
Pangolin - PNG token
Pangolin is the most famous AMM on Avalanche Defi. It has the most liquidity around $0.2 bln and number one place for easy and fast token swaps on Avalanche. The token had a fair distribution, no PNG tokens were allocated to the team, investors, advisors, or any sort of insiders. Therefore, Pangolin is entirely community-driven and entirely community-owned. PNG is capped at a supply of 538 million tokens, 100% of which will be distributed to the community. As a #1 DEX Pangolin's PNG token is our first choice.
You can access Pangolin DEX here - https://pangolin.exchange/
Penguin - PEFI token
Penguin is one of the fast-growing DeFi network in Avalanche. It entered the market with high APY yield-farming and eventually released new innovative Dapps in the network. Penguin has games and it recently launched auto-compounding for yield-farming in Avalanche. Soon Penguin is going to offer Launchpad service to the Avalanche community. In addition to the Launchpad, the team is working on Penguin Club where xPefi holders will have access to free airdrops. Talking about xPefi, the Penguin team worked hard on the network's token economy. Penguin has two tokens: Pefi and xPefi. While Pefi is being used as a utility token, xPefi exists to rip the network's earnings. PEFI and xPEFI are interconnected, and PEFI to xPEFI ratio always increases. So for example, you lock your 1000 PEFI in the Penguin nest today, and you get 268 xPEFI. As PEFI to xPEFI ratio increases, tomorrow your 268 xPEFI worths more than 1000 PEFI. Currently, APY for nest is around 11000%. Another attractive point about Penguin's PEFI token is its economic model. It's capped and deflationary. Plus having a staking mechanism in the network helps to reduce the circulating supply which is positive for a price. Penguin nests where xPEFI lives, has a fee structure called "Paper hands". So, if you decide to reconvert your xPEFI to PEFI, you will be charged a fee and this fee is being burned which creates a deflation. But the good news is that every week "paper hands" penalty decreases. Currently, it is at 4.85%. Next two weeks this penalty will be 4.04% and 3.37%. And by the end of Q3, 2021, it will be zero.
The Penguin team does not plan to stop and actively adding new Dapps to the Penguin network. This is a positive sign for PEFI token. With a limited supply, deflationary token model, and staking mechanism, the PEFI token is one of the blue-chip in Avalanche Defi.
Access to Penguin Network here - https://www.penguinfinance.io/
Snowball - SNOB token
Snowball combines multiple DeFi protocols to create an interconnected experience. Swap stablecoins, deposit liquidity, or auto-compound liquidity rewards. The network currently has two products: StableVault and SnowGlobes. StableVault allows anyone to buy and sell stablecoins with near-zero fees and virtually no slippage while you can supercharge your yield-farming strategy by using Snowball to compound your rewards automatically at SnowGlobes.
The network's token is called SNOB. SNOB is a capped token and already 85% of the tokens are in circulation. This means that we have less inflation till we reach the max cap limit.
Access to Snowball here - https://snowball.network/
Avalaunch - XAVA token
Avalaunch was the first introduced launchpad for the Avalanche DeFi ecosystem. The team is building an innovative launchpad and they are focused on community first. Avalaunch claims to become a whale-proof launchpad that offers multiple options to projects to launch their tokens. Avalaunch created a big buzz around itself and it is being mentioned by influencers. As soon as launchpad goes live and starts onboarding new projects XAVA token might increase in value rapidly.
Access to Avalaunch here - https://avalaunch.app/
BENQI - QI token
Although BENQI has not launched yet, it's forecasted that it will be an important Dapp on Avalanche system. Algorithmic liquidity Market Protocol on Avalanche. BENQI is a DeFi lending and borrowing app for Avalanche Defi. Since there is currently no Dapp that offers this service, BENQI is forecasted to have a larger part of the market share after it launches. As a network goes live, which is expected by the end of June, the QI tokens will enter circulation. BENQI is backed famous VCs including Arrington XRP Capital.
Access to BENQI here - https://benqi.fi/
Imagine entering Ethereum DeFI ecosystem in 2019 or BSC in mid-2020, you could easily make over 15-20x. Avalanche with its superb tech, fast and cheap transactions, interoperable blockchain stands out from the crowd and it is here stay. It is basically Ethereum 2.0 and more, plus unlike BSC it is well decentralized. It has a proof of stake consensus model and has over 900 validators. And there is no limit to becoming a validator which encourages more decentralization. So, as an early adaptor, you can get bluechip Avalanche tokens now.
This article is not financial advice, and make sure to do your own research before making investments.
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