Attracted by the insane yield in Defi? Me too. Maybe you've been a full-fledged traditional stock market, or someone who has dipped your toes into centralised finance (Cefi). Going from <1% interest rates to a peak of 8-10% in Cefi seems like a crazy increment, and then you caught wind of defi with yields going as high as 4-digit (and some to millions) for annual percentage yield (APY).
Below is the summary of the top 10 Defi chains:
https://defillama.com/chains (also, image credit)
Happenings in the chains
- Ethereum - where the most NFTs and crazy gas fees are in (still the most popular network regardless of the crazy gas fees)
- Binance - where cheaper-than-ethereum fees are
- Terra - where you get to buy "stocks" and earn 20% on deposits
- Polygon - where cheap fees rule (close to 0 cents)
- Solana - where its native token is hitting all-time-high (ATH) - this seems to be driven by NFT popularity
- Heco - I don't know this to be real honest
- Avalanche - a new incentive program launched this month, which bought itself quite a bit of fame/popularity
- PolyNetwork - on the other hand, this also got quite a bit of notoriety for encountering the largest hack in Defi history. The story ended with a "happy ever after" with the hacker returning the funds. Publicity stunt? No idea.
- Tron - don't know this too
- Kava - don't know this too
Unless you're full-time trading crypto, I do find it hard to keep up with the crypto news across the different chains. Apologies if you're disappointed with the above, I'm only human. I believe a couple of the above chains weren't in top 10 previously. The Defi world comes with swarm of investors/apes and it's all good when you are in the receiving end, as evident from the XX%+ change above. And if you're not... I only hope you get to extract your capital out as soon as you can of a declining chain.
Do your own research, find the chain you believe and trust in and find some fun with your money.
N.B. to the newbies - where is Bitcoin you ask?
Bitcoin is not a chain, and thus, you don't see the no. 1 crypto in the above list. Just in case you're wondering.
