Decentralized Finance (DeFi) Token Development Company
Decentralized Finance (DeFi) or Open Finance ecosystem is thriving and open the door for a traditional financial system that is setting new standards for access, flexibility and liquidity! moreover, it reshaping the global traditional finance system.DeFi has created a collection of huge demanded tokens within the cryptocurrency ecosystem!, DeFi Tokens are quickly gained popular protocol tokens due to the DeFi's growth. In this article, we take a look at what is DeFi token, types of the DeFi tokens & benefits!
What is DeFi?
Decentralized Finance was commonly known as DeFi and it carries several benefits, including the involvement of smart contracts and distributed systems. It deploying a financial application become more secure and complex, Most of the DApps are being developed on the top of the Ethereum blockchain that reduced the cost and third party involvement and improve security. Today nearly DeFi based projects are being built on Ethereum as well as Tron and making it the standard default blockchain for many dapps. DeFi can be combined, modified, and integrated according to your needs.
What is DeFi Token?
DeFi Tokens are mostly considered to be an Ethereum token,DeFi tokens have the highest market cap! and has to hold the ability to raise up the growth of decentralized applications and their values have higher than bitcoins. DeFi tokens are growing popular than that off cryptocurrencies. DeFi tokens are mostly end-user entities and it acts as an intermediate for traders and users can exposure the financial services in a new build DeFi application, DeFi tokens can improve the major functions in DeFi such as borrowing, lending, investment, staking, trading and risk management.
Top DeFi Tokens:
Aave – AAVE Token
Aave is open finance and leading protocol in DeFi and its native tokens was named as AAVE, is to secure the protocol and it's backed by its own DeFi Token LEND. It will receive the value from borrowing and flash loan fees.
Total Supply: 16,000,000 AAVE
yEarn - YFI Token
It is automated liquidity and offering a large number of opportunities in yield farming, this protocol is owned a native token called YFI, It performs profit for lending providers, YFI token is the supervision token of the Yearn Finance platform. These tokens are earned as a reward for the liquidity provided to Yearn Finance pools
Total Supply: 30,000 YFI
Uniswap – UNI Token
Uniswap is an Ethereum’s most popular decentralized exchange in DeFi, it allows users to swap various ERC20 tokens. Uniswap was introduced its own governance token UNI and this exchange uses this UNI token for its governance model and it offers 400 UNI token its worth nearly $1,500 for their certain users who had used their uniswap services
Total Supply: 1,000,000,000 UNI
Compound - COMP Token
COMP is earned by users for lending or borrowing assets and it is an ERC20 token, by putting ETH or other ERC20 tokens like USDC in the protocol users can get an equivalent amount of COMP tokens they also can borrow crypto tokens. COMP token using on Ethereum wallet such as MetaMask, Coinbase wallet.
Total Supply: 10,000,000 COMP
UMA - UMA Token
UMA is a protocol that has been built on Ethereum and allows users to create custom collateralized synthetic crypto tokens that can track the price. They named their native token as UMA Token, most of the projects are being built on the open-source infrastructure for priceless financial contracts on Ethereum
Total Supply: 100,224,817 UMA
DeFi Token Trends to Watch Out For in 2021
DeFi tokens are being the popular craze right now in the crypto space!, there are a lot of new projects are seeking to offer value for crypto users in 2021, Recently DeFi pulse list there is a huge number of projects are like to offer their native tokens like compound and AAVE, some of the projects like PieDAO are planning to live their native token -DOUGH and shell protocol plan launched their most awaited stablecoin for SHELL governance token. DeFiDollar is also planning for new projects like the Index coop to limit the Index liquidity mining.
DeFi tokens are creating a new way for a financial system that can bring more decentralization by being away from the centralized authorities, this token can help the DeFi system to grow massive growth with upcoming DeFi blockchain projects in 2021.
Where to Create a DeFi token like COMP, AAVE Token?
Are you a start-up or entrepreneur looking for the best DeFi Token Development Company to launch your DeFi token like LINK, YFT, UNI, DAI, COMP, AAVE token for your business proposes?
Being a well versed DeFi Development Company, Developcoins assuring you to provide highly innovative and immutable blockchain solutions and having in-depth knowledge in Decentralized ecosystems that helps to give you the best Decentralized Finance(DeFi) Token Development Services and solutions! Our team of blockchain developers helps to offer you the best DeFi services to launch your DeFi token like COMP, AAVE
Not only for DeFi Token Development we offer a wide of range DeFi Development services which include:
- DeFi Dapp Development
- DeFi Yield Farming Development
- DeFi Smart Contract Development
- DeFi Lending/Borrowing Platform Development
- Decentralized Exchange Development
- DeFi Protocol Development like yearn.finance
- DeFi DEX Protocol Development like Uniswap
- DeFi Protocol Development like Falconswap and more