1. The best defi projects of 2020
The past year has been a big one for the world of decentralized finance, or “DeFi.” From the explosive growth of the sector to the launch of numerous new projects, 2020 was a banner year for the industry.
With that in mind, let’s take a look at some of the best DeFi projects of 2020.
- MakerDAO
MakerDAO is a decentralized autonomous organization that issues the Dai stablecoin, which is pegged to the U.S. dollar. MakerDAO is one of the oldest and most well-known DeFi projects, and it had a big year in 2020.
In March, MakerDAO launched Multi-Collateral Dai (MCD), which added support for multiple collateral types. This was a big step forward for the project, as it increased the stability of Dai and made it more useful for a wider range of applications.
MakerDAO also launched the Dai Savings Rate (DSR) in 2020, which allows users to earn interest on their Dai holdings. The DSR has been a big hit with users, and it’s helped to further increase the popularity of Dai.
- Synthetix
Synthetix is a decentralized platform for synthetic assets. Synthetix allows users to create synthetic versions of any asset, including fiat currencies, cryptocurrencies, commodities, and more.
Synthetix had a big year in 2020, as the project launched a number of new features and saw significant growth in its user base.
In May, Synthetix launched the Synthetix Exchange, which allows users to trade synthetic assets on a decentralized exchange. The launch of the Synthetix Exchange was a big step forward for the project, as it increased the accessibility of synthetic assets.
In addition, Synthetix also launched Synthetix Network Token (SNX), a native token that allows users to earn fees for providing liquidity to the Synthetix Exchange. SNX has been a big hit with users, and it’s helped to further increase the popularity of the Synthetix platform.
- Compound
Compound is a
2. The top 5 defi projects to watch in 2020
The year 2019 was a big one for the world of decentralized finance (defi). We saw the rise of new platforms and protocols that are changing the way we think about financial transactions and interactions. 2020 is shaping up to be an even bigger year for defi, with even more innovative projects and initiatives taking shape. Here are the top 5 defi projects to watch in 2020:
- MakerDAO
MakerDAO is a decentralized autonomous organization that is responsible for the Dai stablecoin, which is pegged to the US dollar. MakerDAO is one of the most established projects in the defi space and is widely considered to be a leader in the industry.
- Compound
Compound is a protocol that allows users to lend and borrow cryptocurrencies from each other. It is one of the most popular protocols in the defi space and is used by a variety of different projects.
- Synthetix
Synthetix is a protocol that allows users to trade synthetic assets. These assets are pegged to real-world assets such as currencies, commodities, and even stocks.
- Balancer
Balancer is a protocol that allows users to create and trade custom portfolios of cryptocurrencies. It is a powerful tool that can be used to construct a variety of different investment strategies.
- Nexus Mutual
Nexus Mutual is a decentralized insurance platform that allows users to insure against smart contract risks. It is a unique project that is solving a very important problem in the defi space.
These are just a few of the many defi projects that are worth keeping an eye on in 2020. With the rapid pace of innovation in the space, there are sure to be many more exciting developments throughout the year.
3. The most promising defi projects of 2020
The most promising defi projects of 2020 include MakerDAO, Compound Finance, and dYdX. These projects are all based on the Ethereum blockchain and offer unique ways to earn interest on digital assets, borrow against collateral, and trade cryptocurrency.
MakerDAO is a decentralized autonomous organization that creates and maintains the Dai stablecoin. Dai is pegged to the US dollar and can be used to trade or pay for goods and services. MakerDAO also allows users to earn interest on their Dai by borrowing and lending it through the MakerDAO lending platform.
Compound Finance is a decentralized lending platform that allows users to earn interest on their digital assets. Compound Finance also allows users to borrow against their collateral.
dYdX is a decentralized exchange that allows users to trade cryptocurrency. dYdX also allows users to margin trade and borrow against their collateral.
These are just a few of the most promising defi projects of 2020. Each one offers a unique way to earn interest on digital assets, borrow against collateral, or trade cryptocurrency.
4. The most interesting defi projects of 2020
There's no doubt that 2020 was a big year for DeFi. From the explosion of yield farming to the rise of stablecoins, the past 12 months have seen the DeFi space grow and evolve in ways that few could have predicted.
With that in mind, here's a look at four of the most interesting DeFi projects that emerged in 2020.
- MakerDAO
MakerDAO is a decentralized lending platform that allows users to collateralize their crypto assets in order to borrow Dai, a stablecoin that is pegged to the US dollar.
MakerDAO was one of the first DeFi projects to gain mainstream adoption and it remains one of the most popular protocols in the space.
In 2020, MakerDAO made a number of significant upgrades to its platform, including the launch of Multi-Collateral Dai (MCD), which allows users to collateralize a wider range of assets, and the introduction of DAI Savings Rate (DSR), which allows users to earn interest on their Dai holdings.
- Compound
Compound is a protocol that allows users to lend and borrow a variety of crypto assets.
Compound was one of the first DeFi protocols to gain traction and it remains one of the most popular protocols in the space.
In 2020, Compound launched a number of significant upgrades to its platform, including the introduction of cToken, which allows users to earn interest on their crypto holdings, and the launch of Compound Governance, which allows users to vote on protocol upgrades.
- Aave
Aave is a protocol that allows users to lend and borrow a variety of crypto assets.
Aave was one of the first DeFi protocols to gain traction and it remains one of the most popular protocols in the space.
In 2020, Aave launched a number of significant upgrades to its platform, including the introduction of aToken, which allows users to earn interest on their crypto holdings, and the launch of Aave Governance, which allows users to vote on protocol upgrades.
- Synthetix
Synthetix is a protocol that allows users to trade a variety
5. The most innovative defi projects of 2020
Decentralized finance—often called “DeFi”—refers to the shift from traditional, centralized financial systems to peer-to-peer finance enabled by decentralized technologies built on the Ethereum blockchain. From lending and borrowing platforms to stablecoins and tokenized BTC, the DeFi ecosystem has launched an expansive network of integrated protocols and financial instruments. Now with over $13 billion worth of value locked in Ethereum smart contracts, decentralized finance has emerged as the most active sector in the blockchain space, with a wide range of use cases for individuals, developers, and institutions.
As the DeFi ecosystem continues to grow and evolve, a number of new projects have launched in 2020 to provide innovative solutions for a variety of different use cases. In this blog post, we’ll highlight five of the most innovative DeFi projects launched this year.
- MakerDAO: The Maker Protocol is a decentralized collateral lending platform on Ethereum that enables the creation of Dai, the first decentralized stablecoin on Ethereum. Dai is pegged to the US dollar and maintains its value through a system of collateralized debt positions (CDPs), collateral auctions, and targeted adjustments to the Dai Savings Rate (DSR). The Maker Protocol is powered by the Dai Credit System, a decentralized autonomous organization that governs the protocol and oversees risk management.
- Compound: Compound is an Ethereum-based protocol that enables users to earn interest on their cryptocurrency holdings or borrow assets using collateralized loans. Launched in September 2018, Compound was one of the first DeFi protocols to gain traction and is currently the largest decentralized lending platform on Ethereum, with over $1.6 billion worth of value locked.
- Synthetix: Synthetix is a decentralized synthetic assets platform on Ethereum that enables the issuance and trading of synthetic assets, or “synths”. Synths are digital assets that are pegged to the price of real-world assets, such as fiat currencies, commodities, and cryptocurrencies. Synthetix currently offers a variety of different synths, including synths for the US dollar, euro, gold, and Bitcoin.
- Balancer: Balancer is