What coins are there on the DEFI track? DEFI track representative currency inventory

In 2024, the competition among currency circle projects will be fierce. As one of the tracks formed in the currency circle, the DEFI track has naturally become the focus of investors' attention. The DEFI track refers to the decentralized protocol used to build an open financial system. For investors, they would like to know more about how to choose suitable projects for investment in the DEFI track. Before investing, they need to know what coins are currently available in the DEFI track? According to existing data, there are 95 cryptocurrencies in the DEFI track, including AVAX, WBTC, LINK, UNI, and DAI. Next, the editor will take stock of the representative currencies of the DEFI track for everyone to help you make better investments.

#What coins are there on the DEFI track?

According to current data, there are 95 currencies on the DEFI track including AVAX, WBTC, LINK, UNI, DAI, MKB, RUNE, AAVE, GNO, SNX, etc. DeFi is Decentralized Finance. ), also known as Open Finance. It actually refers to a decentralized protocol used to build an open financial system, aiming to allow anyone in the world to conduct financial activities anytime and anywhere. Conventional categories include: DEX, stable currency, lending and assets. The following is a detailed introduction to some cryptocurrencies:

1, AVAX

The Avalanche (AVAX) project, formerly known as Ava/AVA, is an open source platform used to launch highly decentralized applications. , new financial primitives and new interoperable blockchains. Using a breakthrough consensus protocol architecture, a smart contract platform that can confirm transactions within one second supports the entire content of the Ethereum development toolkit, making millions of complete block producers possible.

2. WBTC

WBTC (Wrapped Bitcoin) is an ERC20 token linked to Bitcoin. It will be launched at 5 pm on January 30, US Pacific Time (January 31, Beijing time). 9:00 a.m.) was officially launched. WBTC is jointly launched by blockchain projects such as BitGo, Kyber Network and Ren (formerly known as Republic Protocol). The token is issued on Ethereum and is linked to Bitcoin at a 1:1 ratio. All WBTC issued will receive Bitcoin. Supported, each Bitcoin stored by the custodian can correspond to the total number of WBTC issued and can be verified on the chain. Only with the approval of the merchant can the custodian mint WBTC, and when the holder exchanges WBTC for Bitcoin, WBTC will be destroyed.

3, LINK

LINK is an ERC20 standardized token based on the Ethereum blockchain, used to pay Chainlink node operators to retrieve data from off-chain data and format the data In a blockchain-readable format, off-chain computing and guaranteed uptime. Chainlink tokens are used as part of running nodes to protect against bad actors.

4, UNI

Uniswap is the first automatic market-making trading protocol built on the Ethereum blockchain. UNI currently only has a governance role and is a governance token. All transaction fees generated on Uniswap are not used to destroy UNI nor are they given to UNI currency holders.

The current Uniswap fees are mainly obtained by liquidity providers. Currently, liquidity providers not only capture all transaction fees, but also receive UNI token incentives for liquidity mining on four major trading pairs.

5. DAI

Dai is the largest decentralized stablecoin on Ethereum. It is developed and managed by MakerDAO and is the infrastructure of decentralized finance (DeFi). Dai is issued with full mortgage guarantee of assets on the chain and remains anchored at 1:1 to the US dollar, with 1 Dai = 1 US dollar. Individuals and companies can obtain safe-haven assets and liquidity by exchanging Dai or borrowing Dai as collateral. Dai has been applied in mortgage loans, margin trading, international transfers, supply chain finance, etc.

6, MKB

MakerDAO is a decentralized autonomous organization and smart contract system on Ethereum, providing the first decentralized stable currency Dai on Ethereum. DAI is a hard currency backed by digital asset collateral and remains anchored at 1:1 to the US dollar. MKR is the management token and utility token of the Maker system, which is used to pay the stability fee of borrowing Dai and participate in the management system. Unlike the Dai stable currency, due to its unique supply mechanism and role on the Maker platform, the value of MKR is closely related to the performance of the entire system. The decentralized stable currency Dai has key applications in mortgage lending, leveraged trading, hedging, international remittances, supply chains and government public accounting.

7, RUNE

THORChain is a highly optimized multi-chain that uses pBFT consensus to achieve sub-second block finality. Tokens are traded on a single chain, known as tokenChains with a discrete address space. Multi-group sharding is proposed to allow Byzantine-resistant scaling. The native protocol facilitates protocol-level on-chain trading and order matching, supporting limit and market orders.

RUNE is the token of the THORChain ecosystem, which can be used to pay transaction fees, maintain liquidity, and be used as block rewards. Token holders can receive dividends.

8, AAVE

Aave passed the improvement proposal (AIP1) and converted the Aave platform token LEND at a ratio of 100:1 on October 3, 2020 (block height 10978863). AAVE.

Aave is an open source decentralized lending protocol that provides users with deposit and lending services. The deposit interest rates and loan interest rates for borrowers and lenders are calculated through algorithms based on the platform's borrowing and deposit amounts, and the platform uses Chainlink's oracle to ensure the fairness of collateral prices.

9、GNO

Gnosis is a decentralized prediction market built on the Ethereum protocol. Gnosis provides an open platform for people to predict the outcome of any event, greatly simplifying the creation process of custom prediction market applications. At the same time, Gnosis takes advantage of the characteristics of blockchain trust machines and automatic execution of smart contracts to allow players to enter the prediction market more flexibly and freely, bringing greater room for imagination to the prediction market. In the future, Gnosis participants will not even need to be natural persons. In the Internet of Things, the information collected by sensors can also be easily entered into the blockchain and used as information assets for trading.

10, SNX

Synthetix (formerly known as: Havven) is designed for engineers to build decentralized and trustless networks. Synthetix Network Token (SNX) token supports a variety of comprehensive assets, including: fiat currencies pegged to the US dollar, precious metals, indices and even other cryptocurrencies.

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