Decentralized Finance Apps (DApps) are financial instruments that run on the blockchain and enable people to buy, sell, and trade digital assets.
However, not all DApps allow you to buy, sell, and trade cryptocurrency – some enable you to lend and borrow.
Below are 8 DApps that we think you should try if you’re looking to trade digital assets.
This decentralized financial exchange protocol enables users to buy, sell, and trade cryptocurrencies on the Ethereum blockchain via the use of smart contract technology.
With Uniswap, users can earn fees by providing any amount of liquidity or swap between ETH and ERC20 tokens on-chain. This swap of ERC20 tokens is carried out via a simple UI in a private, secure and non-custodial manner.
Uniswap enables users to create markets, like liquidity pools, that help improve it’s exchange liquidity. every liquidity pair is represented by a unique and easily transferable ERC20 token.
Based on the Ethereum blockchain, this decentralized money market protocol enables digital asset holders to borrow and lend crypto against collateral.
You can immediately start earning compounding interest when you add assets to the compound’s liquidity pool. Its interest rates adjust automatically in relation to supply and demand.
Compound saves ten percent of the interest it gets as reserves, with the remaining going to liquidity suppliers.
Though similar with UniSwap, this decentralized protocol is built on the Binance Smart Chain which is believed to be a faster and cheaper alternative to Ethereum.
It enables users to swap between cryptocurrencies by leveraging the liquidity pools on PancakeSwap.
This is a decentralized, non-custodial liquidity market protocol where users can participate as lenders or borrowers.
In this case, lenders earn passive income by providing liquidity to the market while borrowers can have access to overcollateralized and undercollateralized loans.
It has a native governance token, LEND, and can support 16 digital assets (of which 13 can be collateral).
This notable DApp is built on the Ethereum blockchain and it is designed to lessen the volatility of DAI, its USD-fixed token.
Its native token, DAI, is the only stablecoin unlimited use. it does not hold USD in the bank unlike other dollar-backed stablecoins but instead, its protocol relies on collateralized ETH and smart contracts to maintain price stability.
Its users generate DAI by leveraging collateral assets that are approved by the “Maker Governance.”
MakerDAO can be used to lock in collateral such as ETH, open a vault, and generate DAI as a debt against collateral.
This decentralized application is basically a replica of Uniswap, with only a few changes to its open-source code.
It seeks to incentivize a network of users by providing a platform where they can purchase and sell digital assets while allowing them to make liquidity pools for their own tokens by providing ETH and any ERC20 of their choice and swapping out one token for another.
This Ethereum-based decentralized exchange liquidity pool is built for efficient stablecoin trading.
The protocol allows low slippage swaps of stablecoins such as USDT, USDC, and DAI.
Tokens held by liquidity pools are also supplied to the Compound protocol and generate income for liquidity providers.
This is an Ethereum-based decentralized investment platform that enables users to produce and trade what is called ‘Synths,’ which are synthetic versions of physical assets.
It enables users to invest ETH in synthetic assets which can represent bitcoin, dollars, gold, stock, etc.
Its native token, SNX, can be locked in as collateral to mint Synths.
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