DeFi portal by ChangeNOW

Maker is a DeFi platform that is used to maintain the DAI stablecoin. DAI coin is based on smart contracts powered by Ethereum and Maker is a decentralized finance tool that stabilizes the price of DAI by creating new MKRs. DeFi protocols in place regulate the price of the stablecoin in a transparent way with collateralized loans. MKR as a decentralized finance instrument is one of the oldest on the market - it was created in 2014 and has since earned its popularity in the crypto community at large.

Synthetics Network Token is a decentralized finance protocol based on Ethereum. SNX’s DeFi system is similar to Maker, where the platform’s tokens are used to create assets called Synths. Those synthetic assets copy the price of ‘real world’ assets. To buy and trade those, one has to use SNX - the decentralized finance token of the platform. The Synthetix DeFi project initially started as a conventional stablecoin Havven that got rebranded in late 2018.

Balancer is a decentralized finance project made for automatic market-making. Ethereum-based DeFi token BAL is used as a governance tool and a liquidity provider. There are 8 assets supported by Balancer’s DeFi network, including Ethereum and ERC20 projects. Balancer doesn’t use external oracles - asset prices are determined by trades within the network instead. Essentially, BAL is a decentralized finance system that allows for creation of customizable pools and gives an opportunity for its members to earn profit from trading fees.

In the decentralized finance space, Yearn.Finance is commonly known as Bitcoin of DeFi due to its price. YFI is an Ethereum ERC20 token that is used for community governance of the ecosystem. Yearn.Finance as a DeFi project stands out as a highly decentralized blockchain, where all decisions are made by the community. This is a good example of a well-organized decentralized finance space. The YFI token also stands out due to the fact that there was no ICO or pre-mine ever.

REN decentralized finance project was created to allow for cross-chain transfer of coins. REN’s DeFi toolkit is quite original: users have access to Dark pools where transactions stay secure, anonymous and happen in a trustless environment. RenVM’s native REN tokens are used to pay fees for transactions that use the REN Virtual Machine. It is connected to Darknodes, which identify and process transactions between blockchains.

Augur is a decentralized finance prediction platform running on Ethereum. Augur’s DeFi functionality has two uses: to create markers and to trade on events. For a small fee in Ethereum, Augur’s users can create a market for any asset they wish. Augur’s DeFi token called REP is used to pay for the odds of trading events happening. With REP at the decentralized platform’s heart and versatile options for prediction bets and markets creation, Augur is one of the most interesting projects in the niche right now.