5 Blue-Chip DeFi Altcoins That Are Expected to Shine

We will discuss 5 blue-chip DeFi altcoins that are expected to shine in this article. In this article, we will be looking at the concept of decentralized finance and 5 proven projects.

First of all, it is useful to define the concept of DeFi.

What is DeFi?

To understand what DeFis are, we can start by taking a look at Ethereum. The two largest cryptocurrencies in the market, Ethereum and Bitcoin, are built on Blockchain technology. They are decentralized as well as altcoins like Ripple (XRP). Therefore, no authority can control the data stored on the blockchains of these cryptocurrencies. From this feature, the part where Ethereum departs is its smart contracts. At its core are DeFis, i.e. decentralized finance, just to perform financial functions such as lending and cryptocurrency trading. DeFis are a set of smart contracts used to perform financial functions. While Bitcoin can only transfer data about the amount of BTC held, Ethereum smart contracts can store code on the Blockchain. In addition, you do not need to share your identity, create an account or get approval to become a DeFi user. Any user with an Ethereum wallet can quickly join the world of DeFi.

AAVE (AAVE)

Aave is recognized by crypto enthusiasts and investors as the world's largest decentralized bank. Among the DeFi platforms available, Aave has the most options and users can deposit their crypto into savings accounts to earn interest and use collateralized loans to take advantage of their crypto positions.

Uniswap (UNI)

Uniswap is one of the leading DEX built on Ethereum. It allows traders to trade without being subject to any centralized cryptocurrency exchange. To do this, the smart contract protocol interacts directly with users' Ethereum wallets, creating a reliable, permissionless and secure way to exchange cryptocurrency.

DeFi Pulse Index

The DeFi Pulse Index, for example, can be purchased on Uniswap and is actually a DeFi ETF. This tokenized asset represents major DeFi platforms, thus eliminating the hassle of selecting DeFi investments one by one.

Curve Finance

Curve is the backbone of many DeFi platforms. It is similar to Uniswap in being an Automated market maker (AMM), but it also hosts other valuable functions. The platform specializes in stablecoins and makes it extremely easy to transfer tokens like DAI and USDC with low slip and fees.

yearn.finance

Finally, Yearn.finance is an altcoin project that has existed since the early days of DeFis. Its main product is decentralized credit, but it also offers decentralized insurance and yield farming products. Yearn.finance uses users' funds in other DeFi protocols such as Aave, Compound and dydx to consistently offer the highest interest rates in the market.