Top DeFi lending platforms 📈
1️⃣ Aave - It is an Ethereum based open source and non-custodian protocol that enables the creation of money markets. Although it offers other services, it is popular for lending and borrowing.
2️⃣ Maker protocol, popularly called Multi-Collateral Dai (MCD) system, is one of the most reputable DeFi lending and borrowing platforms. It was founded in 2015 as a means to circumvent the volatility of the cryptocurrency.
3️⃣ Compound. The compound is another popular openly accessible smart contract built on Ethereum Blockchain. It allows borrowers and lenders alike to lock their crypto assets into the protocol.
4️⃣ InstaDApp. This is a multi-purpose DeFi platform that manages digital assets. It provides varieties of DeFi services like lending, borrowing, swap, leverage, etc. Look at it as a DeFi bank that allows you to integrate your services to serve your purpose.
5️⃣ dYdX brought margin trading, options, and derivatives to the blockchain space, which are normally found in fiat markets and common for traditional investments. On the platform, users can trade, lend, and borrow ETH, DAI, and USDC.
6️⃣ Dharma protocol. It is a tokenized debt and funding decentralized platform where lenders, borrowers, and other fund managers trade and transact with the other. It boasts of Dharma Settlement Contracts, which mimics the traditional financial instruments and stakeholders like agents typically present in the loan facilitation process.
7️⃣ bZx. The platform provides a unique alternative to decentralized margin trading dYdX. It leverages bZxR token to relayers to collect trading fees.
8️⃣ KittieFight. This is the first innovative DeFi lending platform that uses a gamified approach to provide lending for gamers and other crypto users.
9️⃣ Mainframe is formally launched in 2018 as a decentralized communications platform. It was relaunched as a DeFi lending platform after the acquisition of Sablier, a protocol for real-time finance on the Ethereum blockchain.
👉Friends, and what DeFi-apps did you use? Write in comments!✍
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