The DeFi altcoin industry deals with intermediaries such as banks and organized banking systems. It removes their control over funds and financial services. It is a concept in which users have absolute ownership and rights over their content and funds. Today, we’ll take a look at some DeFi altcoin projects under $80 million market cap and how they’ve integrated the DeFi idea into their operating systems.
Top 5 DeFi altcoins to watch in September
Perpetual Protocol (PERP)
Perpetual Protocol is a decentralized exchange for futures on xDai and Ethereum. With up to 10X leverage, traders can long or short on an increasing variety of assets such as BTC, ETH, DOT, SNX, YFI, and more. The transaction is not under surveillance. Instead, it is on the Blockchain and investors always retain ownership of their assets. The virtual automatic market maker (vAMM) used by the Perpetual Protocol offers on-chain liquidity with predictable pricing determined by consistent product curves. Additionally, Perpetual Protocol has built its vAMMs to be fully collateralized and market-independent.
Perpetual Protocol’s stated goal is to provide the most important, most user-friendly and highly secure decentralized derivatives exchange in the world. Additionally, Perpetual Protocol allows gas free deposits of up to 500 USDC, allowing investors to deposit even if they don’t have ETH in their wallet.
BarnBridge (BOND)
BarnBridge is a risk tokenization system founded in 2019. It was released in September 2020. BarnBridge functions as a kind of decentralized finance (DeFi) lego to make tradable tokens that expose the consumer to market volatility.
DeFi’s functionality augments as part of the BarnBridge project to make it more cohesive and effective. By tokenizing risk exposure and market changes, it can make volatility higher for day traders or lower for cautious traders.
Traditional risk management techniques and fixed income securities are possible in the DeFi market through BarnBridge. The main purpose is to divide cryptocurrency risks into separate units so that market players can invest in various goods or assets according to their risk tolerance.
Origin Protocol (OGN)
Web3 protocol Origin Protocol’s purpose is to make DeFi and NFTs accessible to everyone. The Origin team discovered that decentralized transactions will meet customers’ needs that are not handled by centralized alternatives. Origin Protocol wants to develop user-friendly and crypto-centric applications so that decentralized applications can compete with their centralized counterparts.
Origin Protocol also feels that despite its development, decentralized finance is still too cumbersome and complex for everyday consumers, forcing even crypto-savvy consumers to go for credit cards and mobile payments.
MDX (MDX)
The new decentralized cryptocurrency exchange MDEX went live in January 2021. MDEX is a decentralized automated market making (AMM) exchange protocol that uses the idea of fund pools. It has some similarities with traditional DEXs, but sets itself apart from its competitors by using a dual-chain model based on the Huobi Ecological Blockchain (HECO), which provides access to the Ethereum network and the liquidity of the Ethereum ecosystem.
Based on HECO, MDEX estimates the cost of token swaps at $0.001 per deal, with a three-second transaction time. The automated market maker (AMM) used by MDEX provides low trading slippage, good market depth and high returns for trading and liquidity miners. MDEX is largely created for users and project creators.
STP (STPT)
While there are various ways to reduce these high gas prices, STP has introduced the Verse Network, a comprehensive set of local tools and infrastructure that provides efficient decentralized decision making for individuals, groups and organizations. Verse Network will reduce numerous barriers to entry for DAOs, including high gas prices, difficult user interfaces, and tough voting and governance processes.
The primary exchange method for Verse is STPT, which also serves as a means of payment and rewards for the network. Tokens from the STP Network will be migrated for this intended use and all transactions on Verse require STPT in gas.
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