Full List of DeFi Lending Projects & Protocols

Full List of DeFi Lending Projects & Protocols

By D3F1 | DeFi Box | 19 Aug 2020


1. Aave

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  • Aave is a DeFi Money Market Protocol that allows users to easily earn interest by depositing cryptocurrency into the protocol.
  • Additionally, it allows users to take out loans from the protocol with a specific rate of interest attached.
  • The platform provides interest for deposits in a wide range of cryptocurrency which includes the likes of;
    • DAI, KNC, LINK, MKR, USDC, TUSD, USDT, BUSD, ETH.
  • Aave is also the pioneer of flash swaps that allow non-collateralized loans to be taken out so long as they are paid back within 1 transaction.
  • LEND is the token that governs the entire platform.

2. Akropolis

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  • Akropolis is a lending platform that allows users to borrow or lend.
  • Their mission is to give people to save, grow, and provide for future safety without depending on financial institutions.
  • Create and grow informal autonomous financial organizations (AFOs).
  • Totally non-custodial.
  • The platform has integrations with Compound, Fulcrum, Aave, Maker, Curve, and dydx

3. Atomic Loans

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  • Provides non-custodial Bitcoin-backed loans.
  • Offers a leverage of up to 3x.
  • Raised $2.45 million in a seed funding round.
  • Withdraw loans in either DAI or USDC.
  • Take out loans against BTC without having to sell the underlying asset.
  • Totally decentralized and non0custodial - secured by smart contracts.

4. bZx

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  • A lending protocol for traders to take out loans on margin to trade with.
  • Raised over $7.8 million in their ICO for BZRX tokens
  • BZRX will be used to pay fees and for governance.
  • Their frontend trading platform, Fulcrum, allows users to margin trade or lend crypto assets.
  • Uses a three token system to work which include;
    • BZRX - pay fees and governance
    • iTokens - given to lenders when they deposit funds into the global liquidity pools. Can be redeemed for the cryptocurrency asset at any time and they also earn interest.
    • pTokens - given to users that borrow from the protocol. 

5. Compound Finance

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  • Compound Finance is one of the most popular borrowings and lending platforms.
  • Allows for the creation of money markets on the Ethereum blockchain.
  • Lenders can earn interest in depositing liquidity into the Compound pool for borrowers to lend. Lenders earn interest in every Ethereum block.
  • Borrowers take from the liquidity pool and pay interest on their loans and they must deposit collateral in order to take out a loan.

6. DeFiner

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  • DeFiner is another lending platform similar to others mentioned on this list.
  • It allows users to deposit cryptocurrency to earn interest on their assets. 
  • According to their homepage, you can earn between 4-10% for crypto deposits which is a signficanlty higher rate than its competition.
  • Users can lend or borrow on a P2P basis and choose flexible terms that suit their current financial situation.
  • Fully non-custodial and powered through smart contracts.
  • Totally insured service through Quantstamp and Nexus Mutual.
  • Users earn DeFiner’s governance token FIN through a Proof of Interest protocol.
  • Backed by NEX, Techstars, and Microsoft.

7. MakerDAO

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  • A totally decentralized autonomous organization that allows users to take out loans based on collateral.
  • MakerDAO is recognized as the original lending platform in the industry.
  • Borrowers over-collateralize their positions to ensure that the loans do not default and receive the loan in the form of the DAI stable coin.
  • They have to pay DAI back to receive their collateral.
  • DAI is kept stable through the MakerDAO mechanism and the DAI Savings Rate.
  • MakerDAO has been battle-tested and has already survived a number of huge market crashes which did not cause a cascading loan default scenario.

8. Nitrogen Network

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  • A lending platform for borrowers to take out decentralized P2P secured loans.
  • Lenders earn interest when somebody “rents” their crypto assets on the lender’s term.
  • All funds are held safely inside smart contracts.
  • The lender is protected due to the collateral that a borrower has to deposit in order to take out a loan.

9. SwapRate

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  • A tool designed to switch between the best interest rates for lending.
  • Users holdings are automatically swapped between different lending platforms whilst it seeks for the best rates.
  • Currently has integrations for Aave DAI, Compound DAI, and Compound USDC.
  • Rate swaps automatically occur without the need for user input.

10. dYdX

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  • Along with being a decentralized margin trading platform, dYdX also offers a sophisticated lending service.
  • It was founded in late 2017 by Antonio Juliano.
  • Raised a total of $12 million in funding.
  • Users deposit funds into the dYdX platform which are then lent out to borrowers. 
  • The lenders earn interest every second which is paid for by the borrowers.
  • Zero lock-up periods for lenders so they can withdraw at any time.
  • Users can lend the following coins as of August 2020;
    • BAT, DAI, ETH, USDC, USDT, TUSD, WBTC, ZRX.

D3F1
D3F1

Yet another defi fan


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