What is DeFi?
DeFi stands for decentralized finance. The first decentralized finance platforms have launched on Ethereum blockchain few years ago. Now, DeFi platforms are built and operate on more than 10 blockchain networks. Today, we are going to take a look at the top performers, built or operating on Algorand network.
#3 Algofi
Algofi is decentralized lending protocol, where users can:
- Swap - buy and sell crypto tokens
- Provide liquidity - users can provide liquidity and earn rewards
- Stake - users can stake STBL and earn STBL rewards
- Lend/Borrow - users can lend their crypto assets and use them as collateral for eventual borrowings
Supported blockchains: Algorand
#2 Yieldly.Finance
Yieldly.Finance is a DeFi suite on Algorand, where users can:
- Provide liquidity - users can provide liquidity, receive LP tokens and earn rewards
- Stake - users can stake YLDY tokens and earn rewards in other tokens
Supported blockchains: Algorand, Ethereum
#1 Tinyman
Tinyman is a decentralized AMM protocol, where users can:
- Swap - buy and sell crypto tokens
- Provide liquidity - users can provide liquidity and earn rewards
- Stake - users can stake LP tokens and earn APY rewards
Supported blockchains: Algorand
Join our community
Twitter - https://twitter.com/S1mpleFinance
Discord - https://discord.gg/a7HKqFAh8F
