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The ecosystem of decentralized finance (DeFi) has turned into one of the most promising and fast-growing segments of the financial space. According to The Block, in early May, the total gross value of blocked funds reached almost $100 billion.
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Many tokens have soared as DeFi participants continue to invest and platforms revolutionize the financial industry.
To help you identify some promising tokens, here are some of the most prominent DeFi projects that are worth paying attention to, which may gain incredible popularity in 2022.
Starly
Starly is a decentralized exchange platform of a new type with a focus on supporting the internal community and rock-bottom transaction fee (0.1%). Starly was founded as a decentralized autonomous organization (DAO) for exchanging, farming, and staking Binance Smart Chain tokens.
Starly was created to solve the needs for DeFi tools as efficiently as possible, creating maximum preferences for community members. BSC allows the Starly community to use the platform with maximum efficiency due to superior speed and minimal cost of transactions. The interests of the Starly community are the main priority for the platform.
Starly develops on the principles of an open DEX platform, supporting the principles of a free, equal, and fair financial system based on high-quality products and services.
Token STLY
STLY is a utility token, a tool for interacting with the Starly platform and serves as the basis for the ecosystem. At the moment, the token is just beginning to gain popularity, but it has great potential. In addition, you can gain access to a wide range of additional benefits that are available to token holders.
The burning of tokens reduces the overall supply. At Starly, a team of developers is engaged in burning tokens based on the community's interests to increase the value of the token. The current balance of burned tokens is publicly available and visible in the blockchain. Thus, the token is constantly growing in price, providing benefits to its community.
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Kyber Network
Kyber Network is advertised as a "liquidity layer" for DeFi. The protocol offers rewards for liquidity providers in the form of spreads when exchanging various tokens via Kyber.
Since the DeFi ecosystem is still relatively new, high price volatility often occurs due to low liquidity, which opens up the possibility for manipulation by the major players. To solve this problem, Kyber Network acts as an intermediary between buyers and sellers.
Kyber Network is a blockchain-based protocol that combines liquidity from various sources to ensure high speed and security of transactions.
Since its launch in July 2020, the UNC token has rocketed by 155% and is currently trading at $4,217 per coin. The total supply of KNC will gradually be burned, which could eventually lead to growth if the demand for the token remains high.
Serum
Serum is a decentralized exchange built on the Solana (CRYPTO: SOL) protocol, which is similar to the Ethereum (CRYPTO: ETH) protocol and ensures smart contracts' operation. It was developed by the well-known FTX exchange, which offers access to derivatives, including options, volatility-based products, and futures contracts for cryptocurrencies.
Decentralized exchanges operate based on smart contracts and algorithms. They have become an inexpensive alternative to centralized analogs. It offers fast order execution and low transaction fees ($0.00001 per transaction). It is one of the most promising DeFi projects as it attracts high-frequency traders and market makers.
The system uses all commissions paid by traders in the Serum network to buy and burn SRM tokens. So, the supply is gradually decreasing.
Serum is a decentralized exchange ecosystem that provides high speed and low transaction costs. It is built on the Solana blockchain and has an inclusive nature.
Results
These projects have not existed for so long, but they have already managed to show themselves. They may be relatively safe, have one of the lowest fees on the market, and have a friendly community of like-minded users.
Image sourced from Flickr
This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.