What is DeFi?
DeFi stands for decentralized finance. Firstly, decentralized finance platforms were developed on Ethereum blockchain, which has caused big problems, such as high gas fees for every day transactions. Currently, DeFi platforms are covering more than 10 blockchain networks. Today we are going to take a look at the top performers in the past 30 days.
#3 Trader Joe
Built on Avalanche, Trader Joe has combined all the needed DeFi features in one platform. With Trader Joe, users can:
- Trade - buy and sell tokens
- Provide liquidity - get LP tokens, which can be staked to receive bigger rewards
- Lend - lending gives users the ability to use this amount as collateral and eventually borrow some tokens
- Stake - earn APY on their holdings
Blockchain: Avalanche
#2 KatanaSwap
Katana is the Axie Infinity native DEX, where users can trade WETH, USDC, AXS, SLP, RON and WRON. Currently, Ronin wallet is giving 30 free transactions per 24 hour period. Here are Katana's main features:
- Trade - buy and sell tokens
- Provide liquidity - get LP tokens, which can be staked to receive bigger rewards
Blockchain: Ronin
#1 PancakeSwap
PancakeSwap is being the leader of all the DeFi platforms for a long time. It has become a platform, users can trust. PancakeSwap users can:
- Trade - buy and sell tokens
- Provide liquidity - get LP tokens, which can be staked to receive bigger rewards
Blockchain: Binance Smart Chain
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