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 Avalanche network.
#3 Sushi
Sushi is a DeFi platform, where users can:
- Trade - buy and sell crypto tokens
- Provide liquidity - users can get LP tokens and earn percent of the trading fees. Also, those LP tokens can be staked, in order to earn SUSHI rewards
- Lend/Borrow - users can lend their crypto assets and earn rewards. Also, users can eventually borrow percent of their lended balance
Supported networks: Ethereum, Polygon, Arbitrum, Avalanche, Moonbeam, Moonriver, Fantom, BSC, Gnosis, Harmony, Telos EVM, Celo, Fuse, OKEx, Heco and Palm
#2 Pangolin Exchange
With Pangolin Exchange, users can:
- Trade - buy and sell crypto tokens
- Provide liquidity - users can get LP tokens and earn percent of the trading fees. Also, those LP tokens can be staked, in order to earn PNG rewards
- Stake - users can stake PNG and earn APR rewards
Supported networks: Avalanche
#1 Trader Joe
Trader Joe is currently the biggest DeFi platform, operating on Avalanche, where users can:
- Trade - buy and sell crypto tokens
- Provide liquidity - users can get LP tokens and earn percent of the trading fees. Also, those LP tokens can be staked, in order to earn JOE rewards
- Stake - users can stake crypto tokens and get additional bonuses
- Lend/Borrow - users can lend their crypto assets and earn rewards
Supported networks: Avalanche
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