When cryptocurrencies were initially discovered, many people were thrilled about what this innovative technology offered. Finally, anyone could perform transactions with someone at the other end of the world in a few seconds. It was a technological revelation. However, cryptocurrencies didn’t stop there. They further showed their capacity to perform bank-related features using the blockchain. These features were referred to as Decentralized Finance.
Decentralized finance allowed cryptocurrency traders to buy, sell and swap digital assets. It also allows users to enjoy additional features, such as borrowing, lending, and the creation of smart contracts. DeFi projects are highly sought after in today’s coin market because they offer a high profit potential. This piece will review the most popular DeFi projects in the coin market.
Avalanche is a DeFi project that was created to rival Ethereum. Since Ethereum’s launch, it has remained the biggest project in the DeFi sector. Therefore, it makes plenty of sense that new competitors would arise after some time. As one of Ethereum’s competitors, Avalanche can also use smart contracts to support decentralized applications. However, there’s one major difference between Avalanche and Ethereum. Avalanche focuses on scalability and transaction processing speed.
Avalanche’s blockchain is designed to be efficient and support near-instant transaction finality. As a result, this project can process about 4,500 transactions per second. Avalanche has not been on the coin market for long, but it has made a name for itself. This project embraces the full tenets of decentralization by relinquishing control to users. This coin adopts a governance model. This governance model will determine the transaction fees and how many AVAX coins are created.
This project has an additional advantage over others. It can support both decentralized applications and autonomous blockchains. AVAX is the token that powers this blockchain. There’s a maximum supply of 720 million tokens.
Aave is a decentralized project unlike others in the crypto space. Aave is not a platform for users to trade or swap tokens. Instead, the decentralized protocol offers features similar to a traditional institution. Users can borrow and lend cryptocurrency assets on this decentralized protocol. When traders borrow on this platform, they pay interest. But when they lend to the platform, they earn interest. To borrow from Aave, you must have some amount locked in it.
Users of Aave can borrow up to 30 digital assets on Aave. These assets include; DAI, Tether, USD Coin, etc. Aave also has a pool of real-world assets, including real estate, payment advances, etc. Aave is currently built on the Ethereum blockchain but has partnerships with Fantom, Avalanche, Polygon, Harmony, etc.
When looking at DeFi projects, most traders and experts won’t expect to find a meme coin on the list. However, Rocketize is a cryptocurrency that ticks both boxes. It’s a meme coin and DeFi project at the same time. This project will offer traders access to innovative DeFi features while still offering them a daily dose of fun and enjoyment.
The host blockchain of a DeFi project is essential because it will determine the speed at which transactions are processed or executed. Rocketize is hosted on one of the most efficient blockchains in the coin market – Binance Smart Chain. Users will be able to transfer their digital assets without spending too much. Rocketize is also an open-source project. This means that users can make meaningful contributions to the project’s code or copy it.
Another interesting thing about Rocketize is that it’s a deflationary token. Therefore, the total number of tokens will continue to reduce. This deflationary model will ensure that traders are always looking for this meme coin. Finally, Rocketize is designed as a community-driven token. The name of this community is the Atomic Nation.
Rocketize Token (JATO)
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