Decentralized Finance, more commonly known as DeFi, is a concept that is impossible to imagine the crypto world without. Over the past few years, DeFi has taken the crypto community by storm.
Now, do you want to know more about DeFi Coins? We list the Top 10 DeFi Coins 2023 for you below. So read on quickly.
1. Akropolis (AKRO)
is a cryptocurrency designed for decentralized finance (DeFi). Akropolis allows people to use financial services, such as loans and savings accounts, without central banks or an intermediary. Through Akropolis, users can manage and earn money through blockchain technology and smart contracts. Akropolis was launched with the aim of offering global access to financial services.
Within the Akropolis ecosystem, users can participate in DeFi activities, such as yield farming and liquidity provision to generate returns on their digital assets.
AKRO tokens are used for transactions and voting rights within the Akropolis ecosystem.
2. Avalanche (AVAX)
is a decentralized network providing fast and scalable blockchain solutions. Avalanche enables users to create and use smart contracts without the limitations and high costs sometimes found on other blockchains. Avalanche's goal is to provide an open and inclusive ecosystem for DeFi developers and users.
Within the Avalanche ecosystem, users can participate in a wide range of DeFi applications, including lending and borrowing digital assets, yield farming and participating in liquidity pools.
AVAX tokens are used for transactions and securing the network through staking.
3. Wrapped Bitcoin (WBTC)
Wrapped Bitcoin (WBTC)
is a token linked to the value of Bitcoin (BTC). It allows people to turn Bitcoin into an Ethereum-based token, allowing them to use Bitcoin within the Ethereum ecosystem. This facilitates the integration of Bitcoin into DeFi applications on the Ethereum network, such as using Bitcoin as collateral for loans and yield farming.
Within the WBTC ecosystem, users can convert Bitcoin into WBTC tokens and use them for various DeFi activities on Ethereum.
WBTC tokens are based on the value of Bitcoin and managed by a consortium of custodians.
4. dYdX (DYDX)
is a decentralized trading platform that allows users to trade derivatives and other financial products without intermediaries. dYdX is built on Ethereum and uses smart contracts to execute transactions. The goal of dYdX is to provide DeFi access to sophisticated financial instruments.
Within the DYDX ecosystem, users can trade a variety of assets, including cryptocurrencies and tokenized assets.
DYDX tokens are used to strike and manage the DYDX protocol.
5. Linear Finance (LINA)
Linear Finance (LINA)
is a project that provides a decentralized platform for creating and trading synthetic assets. It allows users to trade tokenized versions of traditional assets such as stocks, commodities and fiat currencies and use them as collateral for loans and other financial activities.
Within the Linear Finance ecosystem, users can create and trade synthetic assets, as well as participate in yield farming to generate returns.
LINA tokens are used for governance and other activities within the Linear Finance protocol.
6. iExec RLC (RLC)
iExec RLC (RLC)
is designed by the iExec platform, which offers decentralized cloud computing. It allows users to rent or lease computing power for tasks such as data processing, machine learning and scientific simulations. iExec RLC is designed to improve the efficiency and accessibility of distributed computing.
Within the iExec ecosystem, users can deploy RLC tokens to buy or sell computing power and participate in the network.
RLC tokens are used for transactions and to incentivize participants within the iExec network.
7. Acala Token (ACA)
Acala Token (ACA)
is a platform focused on DeFi applications within the Polkadot ecosystem. Acala enables users to generate stable tokens, make loans and trade in a secure and interoperable environment.
Within the Acala ecosystem, users can use ACA token to participate in the governance process and facilitate transactions.
ACA tokens are essential to the operation and governance of the Acala platform.
8. Nervos Network (CKB)
Nervos Network (CKB)
is a platform that focuses on blockchain scalability and interoperability. It enables developers to build decentralized applications using multiple blockchains.
Within the Nervos ecosystem, users can use CKB tokens to process transactions and execute smart contracts.
CKB tokens function as fuel for the Nervos network and are used to secure the platform.
9. Badger DAO (BADGER)
Badger DAO (BADGER)
is a project focused on building DeFi solutions for Bitcoin holders. Badger DAO allows Bitcoin users to tokenize and use their BTC in the Ethereum DeFi ecosystem.
Within the Badger DAO ecosystem, users can deploy BADGER tokens to earn returns and manage the protocol.
BADGER tokens are used for governance and other activities within the Badger DAO network.
10. Venus (XVS)
is a decentralized money market on the Binance Smart Chain (BSC). Venus allows users to deposit assets, take out loans and earn interest on their crypto assets.
Within the Venus ecosystem, users can deploy XVS tokens to vote on governance proposals and participate in the liquidity process.
XVS tokens play a crucial role in governance and decision-making