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DeFi coins

1,054 coins #11

DeFi is a new way to do finance without banks. You can trade assets with others online, with low fees and high interest. More

# Coins Price Market cap 24h
551 HanChain HAN $ 0.00562
$ 8.42M
$ 8.42 million
-1.64%
552 Javsphere JAV $ 0.0219
$ 8.32M
$ 8.32 million
-0.45%
553 Luxurious Pro Network Token LPNT $ 0.102
$ 8.17M
$ 8.17 million
-8.66%
554 SolRazr SOLR $ 0.0217
$ 7.9M
$ 7.9 million
-17.18%
555 LoopNetwork LOOP $ 0.0403
$ 7.81M
$ 7.81 million
+16.21%
556 Equilibria Token EQB $ 0.323
$ 7.75M
$ 7.75 million
+15.79%
557 Mendi Finance MENDI $ 0.0774
$ 7.74M
$ 7.74 million
+2.43%
558 SuperDapp SUPR $ 0.00772
$ 7.72M
$ 7.72 million
+1.45%
559 H2Token H2 $ 0.0147
$ 7.37M
$ 7.37 million
+7.67%
560 ONE80 ONE80 $ 0.00718
$ 7.18M
$ 7.18 million
+2.72%
561 UFD UFD $ 6.78
$ 6.78M
$ 6.78 million
-0.58%
562 DogeBonk DOBO $ 0.0₈673
$ 6.73M
$ 6.73 million
+3.25%
563 Moonwell Artemis WELL $ 0.0637
$ 6.69M
$ 6.69 million
+1.90%
564 Stryke SYK $ 0.182
$ 6.65M
$ 6.65 million
+1.50%
565 Seamless SEAM $ 0.931
$ 6.46M
$ 6.46 million
+1.61%
566 CAD CAD $ 0.22
$ 6.35M
$ 6.35 million
+1.68%
567 Kinetix Finance Token KAI $ 0.00632
$ 6.32M
$ 6.32 million
+2.73%
568 Zaros Finance ZRS $ 0.00628
$ 6.28M
$ 6.28 million
-0.03%
569 WeFi WEFI $ 0.0891
$ 6.19M
$ 6.19 million
-0.92%
570 Wiki Cat WKC $ 0.0₈705
$ 6.04M
$ 6.04 million
-0.18%
571 Beefy Finance BIFI $ 364.60
$ 6M
$ 6 million
+4.53%
572 Notional Finance NOTE $ 0.0601
$ 5.93M
$ 5.93 million
+2.85%
573 Day DAY $ 0.00592
$ 5.92M
$ 5.92 million
-10.56%
574 Quantlytica Token QTLX $ 0.0584
$ 5.84M
$ 5.84 million
+1.09%
575 OpenOcean OOE $ 0.0114
$ 5.78M
$ 5.78 million
+5.95%
576 Thales Token THALES $ 0.194
$ 5.73M
$ 5.73 million
-2.21%
577 MarsDAO MDAO $ 0.0572
$ 5.71M
$ 5.71 million
-1.29%
578 PoolTogether POOL $ 1.03
$ 5.67M
$ 5.67 million
+2.88%
579 Terraport TERRA $ 0.00553
$ 5.53M
$ 5.53 million
-4.33%
580 EverRise RISE $ 0.0000754
$ 5.4M
$ 5.4 million
+2.07%
581 DexToro DTORO $ 0.134
$ 5.39M
$ 5.39 million
+118.57%
582 Pike Token P $ 0.015
$ 5.37M
$ 5.37 million
-0.88%
583 BlastUP Token BLASTUP $ 0.00529
$ 5.29M
$ 5.29 million
-13.24%
584 ADAPad ADAPAD $ 0.00725
$ 5.14M
$ 5.14 million
+3.54%
585 Merchant Token MTO $ 0.0514
$ 5.14M
$ 5.14 million
+5.25%
586 LOOKSCOIN LOOK $ 0.00504
$ 5.04M
$ 5.04 million
+0.12%
587 Three Protocol THREE $ 0.0493
$ 4.93M
$ 4.93 million
+17.51%
588 TUXC TUXC $ 0.000602
$ 4.87M
$ 4.87 million
-6.68%
589 Hubble HBB $ 0.0711
$ 4.85M
$ 4.85 million
-0.94%
590 Stride STRD $ 0.526
$ 4.84M
$ 4.84 million
+1.04%
591 StarSharks SSS $ 0.0483
$ 4.83M
$ 4.83 million
+2.91%
592 SEED SEED $ 0.382
$ 4.75M
$ 4.75 million
+2.11%
593 Particle PTC $ 0.0235
$ 4.69M
$ 4.69 million
+2.52%
594 Metavault MVX $ 1.17
$ 4.67M
$ 4.67 million
+9.41%
595 AurusDeFi AWX $ 0.273
$ 4.62M
$ 4.62 million
-5.21%
596 Bumper BUMP $ 0.0183
$ 4.57M
$ 4.57 million
+3.49%
597 Ionic ION $ 0.0171
$ 4.52M
$ 4.52 million
+1.67%
598 AutoLayer LAY3R $ 0.149
$ 4.47M
$ 4.47 million
-4.31%
599 Minto BTCMT $ 0.68
$ 4.42M
$ 4.42 million
-0.45%
600 Fluidity FLY $ 0.00431
$ 4.31M
$ 4.31 million
-0.04%
Top gainer in this list Top loser in this list Ranking penalty

Top gainers

Coins Price Market cap 24h
AllianceBlock Nexera Token NXRA $ 0.0517
$ 42.39M
$ 42.39 million
+25.66%
Usual USUAL $ 1.31
$ 611.17M
$ 611.17 million
+20.97%
Bitget Token BGB $ 4.90
$ 7.93B
$ 7.93 billion
+20.37%
Bounce AUCTION $ 21.19
$ 161.77M
$ 161.77 million
+17.80%
Morpho Token MORPHO $ 2.66
$ 2.56B
$ 2.56 billion
+14.11%
All gainers
Top gainer in this list Top loser in this list Ranking penalty

What is a DeFi coin?

Have you heard the words “DeFi” or “decentralized finance” thrown around among friends or colleagues, but never understood what they mean?

Well, here’s a breakdown for you so that the next time you hear them, you’ll know exactly what to say.

DeFi is short for Decentralized Finance.

DeFi is essentially the new and improved rival to centralized finance. It’s a modern and advanced way of looking at the way our financial institutions operate, without needing a middleman. The middleman in this case would typically be banks, brokers, and financial companies.

DeFi empowers individuals by enabling peer-to-peer digital transactions of assets.

Quick facts

  • Decentralized finance removes centralized financial institutions and third parties when it comes to financial transactions.

  • DeFi aims to reduce transaction times and make financial services more accessible to the public.

Centralized vs. decentralized finance

Before we dive further into DeFi, let’s first understand the differences between centralized and decentralized finance.

In centralized finance, money is held in the bank, and all transactions are overseen by the bank or third parties that manage the movement of funds.

In the crypto world, CeFi is the word for centralized exchanges that help with crypto transfers. These exchanges hold your private keys for you. They also decide how much fees you need for trading and which coins they list for trading. Users must also adhere to the rules and regulations imposed by the exchange.

In CeFi, only a bank or a third party is able to provide a loan, and not everyone qualifies to open a bank account. While centralized finance is highly regulated and quite trusted, it does pose some problems for the general public.

1. The unbanked problem

Centralized finance poses a banking problem.

It is estimated that half of the world's population does not have access to a bank account or a savings account.

This could be because they don’t have the proper identification needed to open one or they simply do not have the minimum funds needed to keep an account open.

Either way, these people will miss out on having the opportunities a person with a bank account might have, such as getting a loan or keeping money in a fixed deposit.

With DeFi, nobody needs a bank account. All you need is a crypto wallet.

2. High fees and low interest rates

In addition, banks and third parties generally charge high fees and offer low interest rates. A classic example would be a credit card. Credit card fees are really high, however, consumers receive next to nothing in interest on their savings account.

It's the opposite with DeFi. DeFi offers lower fees and higher interest rates as it enables two parties to negotiate the interest rate and lend money over the network.

3. Settlement times

Have you ever sent a transfer internationally? If you have, you would know it takes ages for the transfer to be deposited. Banks also don’t operate on the weekends, which puts a restraint on transfer times. In addition, wire transfers charge a hefty fee, which is not easy on the wallet.

With DeFi, crypto runs 24/7. The market never sleeps. You’re able to make transfers internationally without hefty fees as long as you have access to the DeFi network and an internet connection.

4. Security and transparency

While banks are highly regulated, there are cases of cyberattacks on a bank or a financial institution. While the US may be less prone to attacks like this, there are governments of third-world countries that may not be able to bail out of this situation.

With DeFi, security depends on the technology you use. The user is responsible for ensuring security. DeFi utilizes smart contracts and AMMs (Automated Market Makers). Everything is built on smart contracts that are ‘open-sourced’.

Funds go into the smart contract and run autonomously which makes DeFi uncensorable, transparent, and safe. The user is in charge of their own funds in their private wallet.

How does DeFi work?

A blockchain is essentially a block that consists of a distributed database of transaction records that is linked by cryptography. It's a public record and completely decentralized, so no banks or FEDs are involved.

The blocks are “chained” together giving the name blockchain.

Applications called dApps or decentralized apps are used to run the blockchain and perform transactions.

Information in previous blocks cannot be changed without affecting the following blocks, so there is no way to alter a blockchain. This concept, along with other security protocols, provides the secure nature of a blockchain.

Why use DeFi?

DeFi is a P2P platform where two entities can agree to transact cryptocurrencies without a middleman involved.

With DeFi, the average person is able to lend, borrow, long/short, earn interest, and more according to their own terms.

Companies can send wages to remote workers regardless of geographical location through DeFi and avoid high transaction costs.

Countries that are experiencing crippling inflation are able to salvage their savings by converting it to cryptos and utilizing DeFi.

There are endless benefits to DeFi. Some benefits of DeFi include:

  • Send money across the globe

Regardless of your location or time zones, you can access DeFi services as long as you have an internet connection.

  • Set your own terms

DeFi allows two parties to negotiate the interests and fees that they agree to.

  • Access to stable currencies

DeFi has solved the issue of volatility with cryptocurrencies within stablecoins. Stablecoins get pegged to an asset class usually like the dollar. This preserves the value of the crypto even if a market crash occurs.

  • Borrow without strict regulations

Borrowing money can be done in two ways using DeFi. It could be peer-to-peer or pool-based lending where the funds are borrowed from a liquidity pool. Loans are more accessible and interest rates are better.

  • Be a banker

You can lend your cryptos and earn interest that is significantly higher than a bank. Set your own interest rates!

How to invest in DeFi?

There are many ways you can join in the DeFi movements. The easiest way is to buy Ether or another coin that works in the DeFi network.

Next, you could deposit cryptocurrencies into a DeFi network where you will be able to earn interest on staking or lending. The rates will differ depending on the token invested and term of investment.

Demand for deposits is usually high. Thus, for high demand tokens, you could stake the cryptos you own under a protocol called “yield farming”. This way, you are actively contributing by providing liquidity to the pool and at the same time raking up interests.

What DeFi platforms can I use?

Some decentralized exchanges that you can use include:

Final thoughts on DeFi coin

DeFi represents a paradigm shift in the world of finance, offering inclusivity, efficiency, and transparency. Whether you aim to transact, borrow, lend, or contribute liquidity, DeFi provides a decentralized playground where financial empowerment is accessible to everyone. As you navigate the DeFi landscape, explore its vast potential and contribute to the evolution of a more accessible and equitable financial ecosystem.