Decentralised Exchanges (DEX)
DEXs allow users to trade cryptocurrencies directly with each other without intermediaries. They provide liquidity pools where users can exchange tokens, provide liquidity for trading pairs and participate in yield farming. Examples include Uniswap, SushiSwap and PancakeSwap.
Lending and borrowing platforms
These platforms link lenders and borrowers directly, allowing users to earn interest on their crypto-assets by lending them, or borrow assets by providing collateral. Users can access capital or generate passive income. Examples include Aave, Compound and MakerDAO.
Stablecoin platforms facilitate the creation and management of stable coins, which are cryptocurrencies tied to a stable asset, like fiat currency. They provide stability and serve as a reliable medium of exchange in the DeFi ecosystem. Examples include MakerDAO (Dai), Terra (UST) and USD Coin (USDC).
Yield Farming platforms
Yield Farming platforms allow users to earn rewards by betting or providing liquidity to DeFi protocols. Users can lock their tokens into smart contracts and receive additional tokens as rewards. Examples include Yearn Finance, Curve Finance and Harvest Finance.
Decentralised insurance platforms
These platforms offer decentralised insurance solutions for DeFi protocols and users. They provide insurance against smart contract vulnerabilities, hacks and other risks, allowing users to protect their assets. Examples include Nexus Mutual, Cover Protocol and Opyn.
Prediction marketplaces allow users to bet on the outcome of real events, such as election results or sports results. These markets combine information and predictions to provide insight into the likelihood that certain events will occur. Examples include Augur, Gnosis and Polymarket.
Asset management platforms
These platforms allow users to effectively manage their crypto-assets and portfolios. They provide tools for portfolio tracking, asset allocation and automated trading strategies. Examples include Balancer, Set Protocol and Enzyme Finance.
Decentralised identity platforms
Decentralised identity platforms aim to provide secure and sovereign identity solutions using blockchain technology. They offer users control over their personal data and allow identity verification for DeFi applications. Examples include Sovryn, uPort and Civic.