Top 5 DeFi Projects: Tokens To Buy Now!

by | Nov 1, 2023 | Altcoins, DeFi | 0 comments

The DeFi wave is incoming! Are you ready for the next big thing?

In this post, we’ll look at five old yet hot DeFi projects and why this may be a good time to invest.

Despite the multiple DeFi hacks and exploits of late, the total value locked (TVL) in DeFi has been stable.

The most exciting part is that old Defi tokens like Compound, MakerDAO, and Lido are making a significant comeback.

Indeed, this is a robust bullish signal for the DeFi sector, suggesting the possibility of an imminent DeFi boom.

You don’t want to be late for this opportunity – Let’s get to the top 5 Defi tokens of interest.

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Top 5 Defi Tokens For The Next Bull Run

1. Ethereum

The top spot belongs to the mighty Ethereum.

Ethereum is the first ever decentralised open-source blockchain to enable the creation of smart contracts.
If not for Ethereum, there wouldn’t have been anything like DeFi in the first place.

Defi owes its existence to the launch of the Ethereum blockchain in 2015 and the rise of smart contract.

And this has contributed largely to why ETH’s value has been steadily increasing.

On several occasions, ETH has been labelled a commodity by regulators.

This makes ETH an essential good that can be exchanged, like oil, gold, silver, stocks, etc.

In 2022, the CFTC declared Ethereum a commodity, and US courts have since referred to ETH as a commodity in the Binance and Uniswap lawsuits.

Most DeFi projects are built on the Ethereum network, thereby adding value to the ETH token because of gas fees.

And other smart-contract blockchains like Polygon, Bsc, and Avalanche use the EVM technology or build a layer2 to interact with Ethereum.

And as such. Ethereum and ETH are the most used blockchain and assets respectively, in the crypto space today.

Moreover, since the Merge, ETH has become a deflationary token.

Recently, Ethereum futures ETF was approved in the US – a good one for Ethereum.

In addition, the recent approval of Ethereum futures ETFs in the US is a boon for Ethereum.

2. Uniswap

Defi token Uniswap

Uniswap is the largest decentralised exchange.

It has a TVL worth 4 billion dollars, which is almost 3x the TVL of the next DEX ranking below it; that’s Pancakeswap.

Uniswap has half of the daily volume conducted in the DeFi market today.

It allows users to swap or trade all manner of defi tokens.

The platform is also famous for always upgrading to a higher version.

At the moment, we’re expecting the next upgrade to Uniswap V4.

Uniswap V4 will introduce the Singleton Architecture to the platform.

The Singleton Architecture will remove the need to deploy a new contract for each liquidity pool. It will consolidate all pools into a single smart contract.

This will reduce gas fees and make Uniswap more user-friendly.

Pointing to a profitable future for holders of the UNI token.

Because with continuous improvement, the platform will generate more revenue, which will reflect an increased value for the token.


Defi token - LIDO

This is the third DeFi coin you should have your eye on.

Lido made DEFI more tasty and exciting by introducing LSD – Liquid Staking Derivatives. 

Interestingly, it is the most significant liquid derivative platform exciting today.

And as the first platform to launch LSDs, LIDO will continue benefiting from this narrative.

According to DeFilama, LSD now ranks the top in terms of TVL in DeFi.

At the time of writing, Liquid staking is the most popular factor in Defi with over 22 billion dollars in TVL.

Impressively, Lido finance protocol takes over 60% of the whole LSD TVL.

When Lido launched its V2 in June, it integrated a withdrawal and staking route, much to the satisfaction of the LIDO DAO community.

With more upgrades and the forthcoming bull season, the Lido token is well-positioned to capture a significant portion of the growing staking market, which may push the token’s price.

4.  AAVE

Defi token - AAVE

Aave is one of the oldest DeFi platforms that is still taking the lead in this space.

Lenders on the AAVE platform earn interest by depositing digital assets into specially created liquidity pools.

While borrowers can use their crypto as collateral to take loans.

Aave also offers staking, a game called Aavegotchi, and instant collateral swaps.

Initially, Aave was only deployed on the Ethereum mainnet, but it is now on other networks such as Arbitrum, Harmony, Optimism, and Avalanche.

Like the platforms I mentioned earlier, Aave is on a steady growth path.

There are plans to launch a yield-generating stablecoin named GHO soon.

This and many more updates under the works make Aave an attractive project as we anticipate the bull run.

5. Maker DAO

Defi token - Maker DAO

Maker Dao allows anyone to take loans in DAI using other cryptocurrencies as collateral.

It is the platform behind DAI, one of the most liquid stablecoins in the market.

Maker Dao is a good option for both huge investors and retail investors.

As of the time of writing, it is rebranding its roadmap and tokenomics. 

Furthermore, MakerDAO continues to be one of the premier DeFi platforms, demonstrating remarkable resilience since its inception in 2015.

Also Read: Dai(DAI) Review: How Does MakerDAO Maintain Its Stability?

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We’ve reached the conclusion of the post.

So, to round up, ETH, LIDO, AAVE, and MKR are my top DeFi picks.

However, DeFi is not without risks. Endeavour to do due diligence before putting your money there.

Tell me in the comment section, which of these Defi tokens have piqued your interest?

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Paschaline Anagor
I am a passionate crypto enthusiast with over three years of experience in the crypto world. Sharing insights on crypto trading, Web3, DeFi, NFTs, and the latest crypto news. Subscribe to the blog to explore the world of digital currencies!