![]() LINK is the native token of the Chainlink platform which sustains the proper operation of the whole network. As of today, Chainlink is probably the best-known decentralized oracle network in the world of open finance. It wouldn’t be an exaggeration to say that Chainlink’s oracles are the standard for the industry. To put it simply, Chainlink connects smart contracts with different networks, allowing the latter to use the power of blockchain technology. Just like the other two cryptocurrencies described above, Chainlink is an Ethereum-based project. Today, the Aave cryptocurrency is one of the leading DeFi coins on the market. It offers users ‘flash loans’ which don’t require any collateral and a rate switching feature that helps to ‘bridle’ the market’s volatility. ![]() The Aave protocol is also based on the Ethereum blockchain. Unlike the P2P lending solution that was offered by ETHLend, the new Aave platform provided pool-based lending. At the beginning of 2020, the Aave Protocol was introduced. A year later, the ETHLend team decided to expand lending opportunities and pivot the company’s direction. Back in 2017, ETHLend was one of the first crypto lending platforms in the industry. Some crypto veterans probably remember the time when Aave was known as ETHLend. Lenders can earn crypto by lending funds to borrowers, while the latter may quickly and anonymously acquire cryptocurrency. To make money work, the team behind the Compound project has introduced a solution that could realize the potential of unutilized crypto assets. There are thousands of unused cryptocurrencies locked in exchanges and wallets. Unlike traditional financial services, Compound is a secure and fast way to earn passive income. Best DeFi Coins on the Crypto Market Compound (COMP)Īt its core, the Compound protocol is a lending platform that enables users to interact in a decentralized way, without third party interference. We’ve prepared a list of the best DeFi coins in 2020 that can be stored in Freewallet securely. The rate of DeFi coins is still growing while the crypto community keeps on buzzing about the potential inherent in them. Despite that, of course, BTC is still the behemoth of the industry in terms of market capitalization. This summer some DeFi coins have managed to surpass the main cryptocurrency, Bitcoin, in value. ![]() The Decentralized Finance (DeFi) sector has been the subject of much speculation in 2020.
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