I've been fiddling around with Ethereum dApps for some time now, trying to find the best ways to grow my holdings. I haven't done everything, but hopefully these suggestions could help you out.
1. Lending cryptocurrency on "money markets"
Probably the safest option, lending your cryptocurrency for other people to borrow allows you to earn interest on your cryptocurrency. You deposit your funds to the protocol, and it lends it out to other people, accruing interest. The gains are not drastic, so don't expect to get rich off of $70 worth of Dai.
You have quite a few options -
Compound - one of the most well-known DeFi apps on Ethereum
Aave - another well-known lending/borrowing platform
Cream - a fork of Compound that has higher rates on some currencies
dYdX - a trading platform that also lets you lend crypto
Other lending places include Fulcrum.
2. Investing in a "no-loss lottery"
This is a unique DeFi category, as it allows you to play in a lottery, but not lose anything.
PoolTogether
It works like this - you buy tickets with Dai or USDC - these tickets are a 1:1 ratio with the USD stablecoin. Every two weeks, a drawing happens, so when you buy tickets, you're entered for the drawing after the next drawing, and not the next one. When you deposit your Dai/USDC into the PoolTogether smart contract, all the pooled funds are put into the Compound protocol to generate interest. The interest is then paid out to the winner. So the more you deposit, the more the prize will be, and the more chance you have of winning.
That's all I have for now, but I will update the list if I find out more platforms.
(Yes, I know the thumbnail image is very very sacrilegious, but I wasn't able to find anything else)
REMEMBER: DeFi isn't regulated, you have to make decisions that are smart. I'm not telling you to go out and use platforms I reccommend, so make sure you know what you're doing. As always, transactions on Ethereum are expensive, so make sure you wait till the gas prices fall (sub 30 gwei) if you don't want to pay lots of gas. Remember that smart contract transactions are significantly more expensive than send transactions. Remember, since these dApps are software, there could be a bug which could cause funds to be drained from the smart contracts - go for the most trusted apps that have been audited and have well-known and respected developers and a good community.
