The most recent Defiprime statistics show that there are currently around 227 Defi projects, and 211 are built on ETH blockchain. There has been notable growth in Defi in the past few months, with the total value locked in Defi platforms hitting over $40 billion in February.
Although there are hundreds of Defi projects, very few have a market cap of over 1 billion. Most platforms are still stagnating in adoption, yet they offer some of the best Defi services in the crypto space. This article will discuss some of the less popular Defi projects with potential.
ABYSS
Abyss finance is a crypto project designed to provide centralized and decentralized finance options for multiple projects. It has its native ERC-20 token dubbed Abyss, used for various services within the ecosystem.
The current market cap of the Abyss token is around $13 million, with each coin trading at $0.05777. Among the features making up the Abyss ecosystem include;
- Gaming platform- Abyss token is used in the gaming world for payment of game purchases and earning from referral systems
- Marketplace- There is an NFT marketplace also hosting an advanced referral network and supporting multiple chains
- Masternodes and Staking for Ethereum 2.0- This allows platform users to earn great rewards in staking and running masternodes
There are different masternodes and stakes allowed in the platform. The stakes and masternodes all depend on the amount of Abyss tokens a user holds.
Defi Yield Protocol
DeFi Yield Protocol (DYP) is a Defi project launched in October 2020 to provide passive income-earning opportunities. This network is the first platform that uses ETH for reward payment. Among the services provided by this platform include staking, yield farming, and Swapping.
The most recent data on the platform shows that over $49 million is locked in the platform. Moreover, this platform has been paying an average of 106 ETH every day to the users.
DYP distinguishes itself from other competitors by ending some of the issues clouding the DEX world. The vital features of this platform include;
- DYP anti-manipulation feature protects the users from market manipulation
- Ethereum Mining pool will have many benefits for users and miners
- DYP earn vault
- DYP tools feature containing, liquidity locker, trust score, and many other features
DYP has its native token dubbed DYP aiding in running the platform’s activities. It's a governance token allowing users to vote on token addition, token burning, governance initiatives, and strategic partnerships. Currently, DYP has a market cap of over $11 million and a unit price of $3.38.
The Falcon Project
Launched on February 2nd, 2020, The falcon project is a crypto ecosystem designed to provide NFT and Defi services most conveniently. It has a dual interchangeable chain system, with the main chain using an Ethereum ERC-20 token called FNT.
The stipulated maximum supply of the FNT ERC-20 tokens is 99.36 billion FNT coins, and the existing market cap is about $13 million. Moreover, the FNT token is currently trading at $0.003384 with the promise of rising soon. This token offers fast, comfortable, convenient, and simple transaction options for all its users.
The second side of the Falcon project uses an ERC-1155 token dubbed FNC and focuses on privacy and NFT related services. Other great features in the Falcon platform include;
- ERC-1155 voucher that earns users a 40% dividend
- Falcon swap-bot for Dex services
- Liquidity pools earning weekly rewards for liquidity providers
- Quarterly burning of the FNT tokens to ensure they remain highly deflationary
FNT is one of the most underrated yet highly lucrative investments of the year 2021.
YF Link
YF link is a Defi project designed to be a hub and bridge for multiple crypto services. Its main application, LinkSwap, offers decentralized exchange services, i.e., Swapping, liquidity provision, and staking.
YFL is the native token of the YF link platform, used as a governance token for YF link's DAO. The token also helps in the payment of rewards. Apart from the Link Swap decentralized exchange product, YF link has other projects like;
- Linkpad- which is a community governed fund
- Sprout- a classy launch pad for new Defi projects
- Linkcheck- is YF links own audit system
- Renbridge
YF link has not yet released the sprout and linkpad features. However, as it stands today, the platform shows high prospects for 2021 and even beyond using the dex and Renbridges. YF link's current market cap is $10 million, and the unit price is $206.
APYSwap
APYSwap is a crypto platform venturing into the decentralized exchange of tokenized vault shares. To make the above possible, APYSwap creates a 2nd layer blockchain that can freely interact with other multiple layers 1 blockchain like Polkadot, HECO, ETC, and BSC.
APYSwap token is the native token of this ecosystem, helping secure and govern the ecosystem. This token has seen price fluctuations and volatility since its IDO on March 2nd, where the launch price was $0.186. Currently, APYSwap token price is $1.9, and the market cap is standing at $10.7 million.
Among the core features that the APYSwap platform boasts include;
- Complete technical simplicity for rookie and experienced traders
- The platform also aims to provide favorable transaction charges for Defi users
- APY vault contracts allowing users to trade their share of APY vaults instead of trading actual assets
- APY mask, a unique wallet built in the style of Mrtamask but providing even more simplicity and user-friendliness
Swerve
Swerve is a Curve finance fork designed to provide liquidity exchange and provision services for stablecoins like DAI, USDC, TUSD, etc. It launched on September 4th, 2020, and has since made great strides hitting $1billion TVLin December.
The platform has its native token dubbed SWRV token, aiding in governance and rewarding liquidity providers. SWRV currently trades at $1.27, and the market cap is $14.4 million. As a Curve fork, this network focuses on the community, meaning the platform's governance is left to the community members.
Among the best features of the platform include;
- High APYs
- Low transactions fees of 0.03%, with 50% of the fees rewarding liquidity providers
Looking at the strides the platform has made to date, Swerve has high prospects.
Conclusion
The crypto space has hundreds of Defi projects, but many of them are still under the radar. The projects mentioned above offer unique services but are still stagnating in adoption.
Falcon, for instance, has a dual token system providing both Defi and NFT services. YF link offers multiple crypto services like Swapping and liquidity provision, thus helping users profit. DYP is unique with futuristic anti-manipulation features. Abyss has an interest in various industries, with the most common being gaming. APYSwap offers vault share trading services, and Swerve fosters decentralization through community inclusion.
Remember to do proper research before investing in any cryptocurrency. This is not trading or investment advice. The above article is for entertainment and education purposes only. None of the content on Crypto Adventure is investment advice nor is it a replacement for advice from a certified financial planner. Please do your own research before purchasing or investing in any cryptocurrency.
