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Bitcoin Exchange Script and Software | Bitdeal

DeFi Trends 2020 For FinTech App Developers

aaroncody profile image Aaron Cody ・3 min read

DeFi Trends 2020

There are a lot of DeFI projects, products, and services in the queue. But the most popular sector which gains attention through DeFi protocol is the “Borrowing and Lending Platforms”.

Every day thee DeFi network is added with an innovative DeFi platform and So here we are going to see the DeFi tokens which has gained attention in the Q2 of 2020.

COMP Token

COMP token is an ERC 20 asset pegged token which runs on ethereum network. Created by COMPOUND- In defi terms compound is a market money or lending protocol.

Market Cap : $637,686,274
Total Supply: 10,000,000 COMP
Explorers — etherscan.io, ethplorer.io

Maker — MKR

Maker is also a leading lending protocol, which was responsible for the creation of DAI — A stable coin. MKR Tokens also provides users to delegate votes for new changes, suggestions, inside the maker DAO network through Maker Voting Dashboard.

Market Cap : $437,680,595
Total Supply : 1,005,577 MKR
Explorers : etherscan.io, ethplorer.io, blockchair.com

0x Protocol — ZRX

It is a liquidity protocol used to provide liquidity services for various decentralized exchanges.
Creators : 0x.org

Market Cap : $282,789,023
Explorers : etherscan.io, ethplorer.io, blockchair.com
Total Supply: 1,000,000,000 ZRX

Kyber Network — KNC Token

KNC is the native token of Kyber.Network — A DEX platform, KNC will be burned by the collected fees from the exchange.

Market Cap: $327,511,105
Explorers : etherscan.io, ethplorer.io, blockchair.com
Total Supply: 210,623,056 KNC

Synthetix — SNX Token

It’s a derivative protocol backed by its native token SNX. Recently Binance has listed SNX tokens for trading. To mint derivatives(Synths) users have to stake a minimum of 750% of Synths in the Value of SNX.

Creators : Synthetix.io
Market Cap : $387,277,440
Explorers : etherscan.io, ethplorer.io, blockchair.com
Total Supply: 190,075,446 SNX

Aave — LEND Token

Aave is also another leading lending protocol. Which is backed by its own DeFi token LEND. Whereas the LEND token Will receive value from borrowing and flash loans fees.

Creators : aave.com
Market Cap : $394,493,926
Explorers : etherscan.io, ethplorer.io
Total Supply: 1,299,999,942 LEND

UMA- UMA Token

UMA is also a derivative protocol backed by its native token UMA. This protocol is used for the creation of permissionless synthetix assets.
Creators : umaproject.org

Market Cap : $112,547,696
Explorers : etherscan.io, ethplorer.io
Total Supply: 100,224,817 UMA

REN Protocol — REN Token

Ren protocol acts as an interoperable bridge or medium to connect ethereum assets with RenVM. In order to become a validator, an user has to post 1,00,000 REN as a collateral that can become an eligibility to host a dark node.

Creators : renproject.io
Total Supply: 999,999,633 REN
Explorers : etherscan.io, ethplorer.io

Bancor — BNT Token

BNT is the native token of the DEX platform, Bancor. Here a part of fees collected from the exchange will be distributed to users who hold BNT tokens.

Market Cap — $104,088,086
Total Supply: 69,148,554 BNT
Explorers : etherscan.io, ethplorer.io, blockchair.com

Loopring — LRC Token

It is a 2 layer exchange protocol that can be used to optimize the throughput on ethereum with the available scalability solutions.

Creators: loopring.org
Marketcap :$148,734,528
Total Supply : 1,374,513,897 LRC
Explorers : etherscan.io, ethplorer.io

Conclusion

It’s time for DeFi Platform, especially tokens with lending protocol gaining more attention. Keep on engaging with the trends to grow with the industry!

Source : Top 10 DeFi Tokens 2020

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