This group of cryptocurrencies are DeFi tokens, and are powered by smart contracts. The main benefit of DeFi tokens is that they can enable anyone with an internet connection and a compatible wallet to access decentralized and transparent financial services, such as lending, borrowing, trading, investing, and more. This can increase financial inclusion and democratization for people who are underserved or excluded by traditional financial systems .
1- Compound (COMP)
The DeFi lending platform “Compound” and its native governance token “COMP” were launched in 2020. COMP holders can lend and borrow tokens on the Compound platform. Furthermore, they can earn interest on deposits or borrow funds at variable rates. The COMP token can be used for various purposes, such as:
- Voting on the system,
- Implementing changes to the protocol,
- Lending and borrowing,
Like all other cryptocurrencies, COMP has price fluctuations that investors should know. The highest price recorded for this token was $911.20 in September 2021. If you want to invest in COMP, you can easily create an account on Blocktrade and buy COMP. However, we recommend you check out the historical data for this token and do more research to ensure it is a suitable investment for you.
2- Curve DAO (CRV)
The Defi token of Curve Finance, CRV, was released to the market in January 2020. The CRV holders can use their tokens for the following purposes:
- Voting on the system- CRV is not a simple governance token. If its holders keep their tokens up to four years, they can get veCRV, which gives them more power to control the system.
- Staking- Users can also stake their veCRV in various liquidity pools to earn more CRV and other tokens.
- Boosting the Curve Platform- which is a decentralized exchange and automated market maker protocol for stablecoins and other low-volatility assets.
- Investing– The all-time high price of the Curve DAO token was $6.50 in January 2022.
If you want to buy CRV for any purpose, you can easily do this on Blocktrade. Furthermore, you can trade CRV on this platform with zero trading fees. However, if you think about investing in this token, we recommend you read more about its condition on the market and compare it with its competitors .
3- Kyber Network Crystal v2 (KNC)
Kyber Network Crystal v2 (KNC) is a cryptocurrency token used for governance and staking on the Kyber Network. This decentralized liquidity protocol, launched in 2018, enables instant and secure token exchange on any blockchain. Kyber Network aggregates liquidity from various sources, such as decentralized exchanges, liquidity pools, and market makers, to provide traders, developers, and users with the best rates and access. Some of the use cases of KNC are as follows:
- Voting on proposals- Since KNC is a governance token, its holders can vote on the system and earn rewards from trading fees.
- Staking. Users can stake KNC tokens to participate in governance decisions or to earn rewards within the Kyber Network ecosystem.
- Decentralized Liquidity Pools- KNC facilitates decentralized liquidity pools, allowing users to contribute their assets and earn rewards in return.
- Instant Token Exchange- KNC allows for instant and decentralized exchange of Ethereum (ETH) and various ERC-20 tokens.
- Investing- Like all other cryptocurrencies, you can keep KNC as an investment. The highest price of this token was $6 in January 2018.
Doing your research whenever you want to buy a cryptocurrency is always recommended. Especially if you want to invest, it is essential to read all about each coin and compare them with their competitors. Meanwhile, you can buy KNC on Blocktrade.
4- Synthetix (SNX)
Launched in September 2017, the Kain Warwick cryptocurrency entered the market. However, about one year later, the company rebranded to Synthetix, which is now a decentralized synthetic asset issuance protocol. The native token on this platform is called Synthetix Network Token, SNX, an Ethereum token that is used for the following purposes:
- Creating synthetic assets, known as “synths”. These Synths replicate the value of real-world and crypto assets, such as cryptocurrencies, commodities, and fiat currencies.
- Staking and Rewards- Staking SNX helps secure the network and maintain its decentralized nature. The SNX holders will receive staking rewards.
- Providing Liquidity- SNX holders can participate in liquidity provision, which contributes to the efficient functioning of the platform.
- Voting- Since SNX is a governance token, the holders can vote on protocol upgrades and changes.
- Investing- Since it’s not a stablecoin, you can invest in SNX and benefit from its price fluctuations. However, in this case, you should be more aware of the crypto market and SNX competitors. The highest price of KNC was $28.53 in February 2021.
It’s easy to buy SNX on Blocktrade and trade it with no trading fees.
5- Yearn Finance (YFI)
Officially introduced to the market in July 2020, Yearn Finance (YFI) is a cryptocurrency project that operates as a decentralized yield aggregator on the Ethereum blockchain, and also known for its innovative DeFi products. It allows users to optimize their earnings on cryptocurrency assets through lending and various other strategies. The native token on this blockchain is called YFI, a governance token that has the following use cases:
- Voting on proposals- Like all other governance tokens, YFI can be used to vote on different projects and changes in the system.
- Gas price reduction- Yearn. Finance is known for its gas-efficient strategies, helping users save on transaction costs when interacting with DeFi platforms.
- Providing liquidity to various DeFi platforms- This blockchain’s liquidity provision rewards YFI holders. Gas Price Reduction: Yearn. Finance is known for its gas-efficient strategies, helping users save on transaction costs when interacting with DeFi platforms.
- Investing- YFI is one of the most expensive cryptocurrencies; it recorded its highest price at $93,435.53 in May 2021.
After doing all your research about investing in cryptocurrencies, you can easily buy YFI on Blocktrade.
6- Ankr (ANKR)
Ankr is a cryptocurrency that plays a role in the Web3 infrastructure and blockchain ecosystem. Its native token (ANKR) is an Ethereum token to power the blockchain. The main idea behind this blockchain is to enable more people to participate in the blockchain ecosystem by building decentralized apps (dApps), staking, or hosting nodes. The Ankr use cases are as follows:
- dApp development- Developers can utilize ANKR tokens to facilitate the deployment of their dApps and protocols on the Ankr network, making it a part of their development and operational processes.
- Web3 Infrastructure- ANKR tokens may be involved in accessing and utilizing decentralized Web 3.0 infrastructure.
- Liquid staking- Ankr allows users to earn rewards through liquid staking.
- Investing- Although Ankr had many ups and downs during its presence in the market, it is still an option for some investors. The highest price ever recorded for Ankr (ANKR) was $0.21 on April 16, 2021.
Whether you want to invest or use this cryptocurrency for other purposes, you can easily buy ANKR on Blocktrade.
7- The Graph (GRT)
The Graph blockchain was launched in 2018 to simplify DApp development and efficient data querying on multiple blockchains. Like all other blockchain networks, the Graph also has a native token called GRT, an Ethereum token that powers this protocol. This token has several use cases, such as:
- Data indexing and querying- The Graph acts as a search engine for blockchain data, making it easier for developers to retrieve specific information from the blockchain efficiently.
- Creating decentralized apps- The GRT holders can use their tokens to develop decentralized applications.
- Medium of exchange- Users can use GRT tokens for various purposes, including payments within dApps and network fees.
- Facilitating information retrieval– The Graph helps collect, process, and store data from blockchain applications.
- Investing– GRT has shown to be a good investment several times. However, investing in this token requires reading more about its history and price predictions. The all-time high price for GRT was $2.84 in February 2021.
You can easily buy GRT on Blocktrade.
8- Loopring (LRC)
Launched in August 2017, Loopring is a cryptocurrency and protocol designed to enhance the efficiency of trading and payments on the Ethereum network while reducing costs and increasing security. LRC is the native token on this platform mainly used to empower the Loopring decentralized exchange, allowing users to trade various Ethereum-based tokens such as Aave. The LRC has several use cases, including:
- Enhancing user experience– Loopring facilitates affordable and easy token transfers and trading, improving the crypto experience.
- Layer-2 solutions– As a Layer-2 scaling solution, the main purpose of creating Loopring is to make the experience of using Ethereum faster and more efficient by reducing transaction costs and confirmation time.
- Scalability– Loopring employs a technology known as Zero-Knowledge Proofs (ZKPs) to enhance the scalability of the Ethereum network.
- Investing- LRC can be one of the options for investors to purchase and keep for a while. However, you should still do more research about each cryptocurrency you want to invest in.
Buy Loopring (LRC) on Blocktrade.
9- Ocean Protocol (OCEAN)
As an open-source data marketplace and a Defi system, the Ocean Protocol was launched in August 2017. One of the critical innovations of Ocean Protocol is the tokenization of datasets and data assets. This means that data can be represented as tokens on the blockchain, enabling more granular control and value extraction from data resources. OCEAN is the native token on this platform with the following use cases:
- Unit of exchange- the Ocean tokens can be used to buy, sell, and publish data on Ocean Market.
- Project funding- Since the OCEAN is a governance token, the holders can use it to fund projects or make decisions on the system.
- Staking- the OCEAN can be staked, and the stakers will receive rewards.
- Investing- this token can be bought as an investment, too. However, you should check out different aspects of it to discover if it is the correct token to invest in. The all-time high price of OCEAN was $1.94.
Ocean Protocol (OCEAN) is available on Blocktrade. Buy OCEAN now!
10- Origin Protocol (OGN)
Origin Protocol is an Ethereum-based blockchain project that focuses on bringing decentralized finance (DeFi) and Non-Fungible Tokens (NFTs) to a broader audience. Additionally, it enables the creation of decentralized marketplaces on the blockchain, allowing developers and businesses to build and manage listings in a decentralized manner. Origin Protocol is associated with its native cryptocurrency called Origin Token (OGN). OGN is used within the network for various purposes, including:
- Voting on proposals- OGN is a governance token that gives power to its owners to decide on critical projects on this platform. Using this coin, they can vote on different projects on Origin Protocol.
- Enabling Decentralized Finance (DeFi)- OGN serves as the native utility token for the Origin platform. It is crucial in enabling DeFi features within the ecosystem, including incentive systems, payments, and future governance mechanisms.
- Reducing Middleman Fees- Origin Protocol aims to disrupt traditional centralized marketplaces by eliminating the need for intermediaries. This can significantly reduce transaction fees, making it more cost-effective for users.
- Investing- You can buy OGN and keep it as an investment. Check out this coin’s price fluctuations and other aspects to catch the right time to purchase it. The highest price for OGN was recorded on April 08, 2022 at $3.35.
11- Perpetual Protocol (PERP)
Launched in November 2021, Perpetual Protocol (PERP) is a decentralized protocol designed for trading perpetual contracts for various assets. This Protocol allows users to trade perpetual contracts for a wide range of assets in a decentralized manner. One of the notable features of Perpetual Protocol is its deep liquidity, making it attractive to traders who require substantial trading volumes and minimal slippage. The native token used on this Protocol is called PERP, with the following use cases:
- Staking- PERP holders can use their tokens for staking on its platform and earn rewards.
- Voting- As a governance token, PERP gives power to its owners to vote on different proposals and projects in the system.
- Derivatives trading- Traders can speculate on price movements using PERP tokens as collateral.
- Investing- Although PERP has faced many fluctuations during its presence, it can still be a great option for traders. However, reading more about different aspects of this token is still recommended to ensure it’s the perfect crypto to invest in. The highest price recorded for PERP was $24.40 on August 30, 2021.
You can easily buy PERP on Blocktrade.
12- Raydium (RAY)
The decentralized finance (DeFi) platform of Raydium, launched in February 2021, operates on the Solana blockchain. Raydium serves as an Automated Market Maker (AMM), providing liquidity to the Solana ecosystem. Furthermore, it allows users to swap, provide liquidity, and farm tokens in a decentralized manner on this blockchain. RAY is the native cryptocurrency of the Raydium platform. It powers the network and can be used for various purposes within the ecosystem, including:
- Staking- Like most cryptocurrencies, RAY can be used for staking, and the stakers will earn rewards for doing this process.
- Voting- As a governance token, the RAY crypto allows its users to vote on critical projects, proposals, and any changes to the system.
- Providing liquidity- Liquidity providers contribute assets, such as RAY and SOL tokens, to these pools, facilitating trading and earning rewards.
- Investing- RAY can be kept as an investment, too. The highest price of RAY was $16.93 on September 21, 2021.
Buy Raydrium (RAY) on Blocktrade.
13- Rocket Pool (RPL)
As a decentralized Ethereum staking platform, Rocket Pool offers innovative liquid staking services. Rocket Pool’s native token is RPL, an ERC-20 utility token on the Ethereum blockchain. RPL tokens have governance functions within the platform and can be used for the following purposes:
- Voting on the system- RPL is a governance token allowing holders to vote on different subjects and changes to the Rocket Pool platform.
- Staking- Stakers on Rocket Pool can earn rewards through RPL tokens for participating in the network.
- Liquid Staking- Rocket Pool offers a unique liquid staking token that accrues rewards while being used, providing users with flexibility and liquidity compared to traditional staking, where tokens are locked for a specific period.
- Investing- RPL can be used as an investment. However, like all other cryptocurrencies, there is no guarantee for its profitability in the future. Therefore, you should do more research whenever you decide to invest in a cryptocurrency. The highest price for this coin was $59.06 on April 17, 2023.
You can buy RPL on Blocktrade.
14- Serum (SRM)
Built on the Solana blockchain, Serum is a decentralized cryptocurrency exchange (DEX) that operates without intermediaries, allowing users to trade cryptocurrencies directly. Furthermore, Serum is known for its high speed and low transaction costs, making it attractive for decentralized finance (DeFi) activities. SRM is the native utility token of the Serum ecosystem. It serves various purposes within the platform, such as:
- Governance- Users can utilize SRM tokens to participate in the governance of the Serum DEX, such as voting on proposals or different projects.
- Staking- SRM holders can use their tokens for staking and earn rewards.
- Trading fee discounts- Serum’s utility token, SRM, offers holders up to a 50 percent discount on trade fees when used on the Serum platform.
- Investing- Investors can buy SRM and keep it as an investment. However, it is recommended to do more research to discover if this token is your perfect choice. The highest price of SRM was $13.78, recorded on September 11, 2021.
Buy Serum (SRM) on Blocktrade.
15- Stargate Finance (STG)
Stargate Finance is designed to be a fully composable native asset bridge. This means it facilitates the transfer of assets between different blockchains, making it easier for users to move their digital assets seamlessly across various blockchain networks. Stargate Finance has a native token called STG, which has the following use cases:
- Cross-chain asset transfer- Users can swap STG at a 1:1 ratio across different blockchains.
- Composable native asset- STG token can be integrated into various DeFi applications and protocols, expanding its utility within the decentralized finance ecosystem.
- Staking and rewarding- STG tokens can be staked. The stakers will receive veSTG as a reward. veSTG is the governance token that can be used to vote on system changes and different projects on Stargate Finance.
- Investing- Investors can buy STG as an investment. However, you should read more about this token and its profitability in the past to discover if it is the perfect choice for you. The all-time high price of STG was recorded as $4.28 on April 2, 2022.
You can easily buy STG on Blocktrade.
16- UMA (UMA)
Universal Market Access, or UMA, is a blockchain oracle launched in April 2020. The main idea behind this cryptocurrency is to record verifiable data on the blockchain, allowing developers to build and customize financial contracts. Furthermore, it offers flexibility in creating various financial instruments and decentralized applications. Its native token, UMA, is an Ethereum token with the following use cases:
- Voting- Like all other governance tokens, UMA allows its holders to propose new projects and vote on changes on the UMA platform.
- Creating synthetic assets- UMA is a protocol built on Ethereum that enables users to create custom collateralized synthetic cryptocurrency tokens. This means users can create synthetic versions of various assets, such as cryptocurrencies, stocks, or commodities, which can be used for trading and investment purposes.
- Investing- UMA tokens can be kept as an investment. The highest price for this token was $41.56 on February 04, 2021.
Buy UMA on Blocktrade now.
17- WOO Network (WOO)
Known for providing low trading fees, WOO Network is an attractive cryptocurrency to traders seeking to minimize their platform transaction costs. Additionally, WOO Network allows users to fully customize their trading experience. This feature can include personalized trading strategies, interfaces, and other elements to suit individual preferences. The native token on Woo Network is called WOO, which has the following use cases:
- Staking- Users can use WOO tokens for staking and earn rewards.
- Voting on the system- The WOO holders have decision-making power as a governance token. So they can vote on different changes on the network.
- Providing liquidity- The WOO token can be used to provide liquidity through yield farming.
- Collateral- WOO owners can use their tokens as collateral for lending or borrowing other crypto assets.
- Investing- WOO tokens can be kept as an investment. However, investors should research and compare the cryptocurrencies to determine which is a better investment. The highest price of WOO was recorded at $1.78 on November 15, 2021.
Buy WOO tokens on Blocktrade.
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