Most popular DeFi (Decentralized Finance) apps

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DeFi protocols are like our apps on our phones, except that each interacts with the blockchain in a different way.

MakerDAO

MakerDAO is a decentralized lending platform built on the Ethereum blockchain, secured by cryptocurrency. This platform allows the borrowing of the DAI stable cryptocurrency whose price is fixed at $ 1 with a smart contract.

MKR (MakerDAO management token) is either generated or removed from the system in order to keep the DAI value, which is a stable crypto currency, constant at 1 USD. While MKR is used for systematic functions such as cryptocurrency transaction fees and voting in the system, the crypto currency we buy as users is a stable value DAI token.

Compound

Compound is a protocol built on the Ethereum blockchain, designed open source, allowing anyone to borrow or lend cryptocurrency without the need for any intermediary. Since February 2020, 7 different cryptocurrencies, including Ether, can be used as collateral on Compound.

Compound cryptocurrency, called cToken, represents the money a user deposits into the Compound ecosystem. According to the Compound protocol, cToken is produced and presented to the user in the equivalent amount of the crypto money deposited by the users. For example, when you deposit a certain amount of USDC cryptocurrency equivalent to dollars, you will receive cUSDC cryptocurrency equivalent. With these cUSDC tokens, it is possible to return to USDC tokens whenever you want.

Uniswap

Uniswap is a decentralized cryptocurrency exchange, built on the Ethereum blockchain. The biggest difference of Uniswap from central exchanges: unlike the central exchange, you can exchange your tokens directly from your wallet, so you can keep control of your digital assets in your custody rather than giving them to central exchanges. For this exchange at central exchanges, you need to transfer your tokens to the exchange, make the exchange and withdraw it to your wallet.

The main difference of Uniswap from other decentralized exchanges is the use of a pricing mechanism called the “Fixed Product Market Creator Model”. Instead of connecting buyers and sellers to determine the price of tokens you add to Uniswap, Uniswap uses a fixed equation. In this way, the value of tokens can only change while the trade is taking place. Basically what Uniswap does is balance the value of tokens and change them depending on how much people want to buy and sell.

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TokenSets

TokenSets allows its users to purchase Strategy Enabled Tokens (SET) tokens, and thanks to these tokens, with an automated trading strategy with smart contracts, the cryptocurrencies contained in the sets are exchanged 24/7 according to the strategy, indicator or the strategy of another investor. offers a cryptocurrency portfolio.

When you enter the TokenSets platform, it is possible to encounter hundreds of different sets of names. These can be seen as crypto portfolios created with different strategies. Next to each set it shows the past daily / weekly / yearly return as a percentage. You can invest in these sets according to your preference and benefit from automatic fund management.

Pool Together

Pool Together is a decentralized and decentralized lottery type based on blockchain. Users participate in the lottery by purchasing tickets in exchange for stable cryptocurrencies. 1 USD is paid for each ticket. The funds collected are left to yield on the Compound, where the total fund’s return on interest is accumulated. The proceeds from the funds of all participants through the Compound are awarded to the winner of the lottery. The reason it is a no-lose lottery type is that at the end of the lottery everyone can get their deposit back when they sell the tickets.

Kyber Network

Kyber Network is a protocol that allows users to completely decentralize cryptocurrency exchanges and securely perform transactions on the Ethereum blockchain. In this protocol, unlike Uniswap, anyone who wishes cannot list their project and certain conditions must be met in order to be listed.

The Kyber Network protocol also has a cryptocurrency called Kyber Network Crystal (KNC). Although the KNC token is used at many different points on the Kyber Network, as an end user, you can put your KNC token on stake and earn rewards from network fees.


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