A new class of DeFi protocols is emerging to challenge what’s left of 2021, as cross-blockchain bridges and interoperability allow for easier migration of assets to other blockchains. Here are three DeFi altcoin projects launched on some of the emerging layer-1 blockchain networks that caught the crypto community’s attention as the market plummeted.
3 DeFi altcoins that stand out as the market drops
VVS Finance (VVS) is the largest DeFi protocol to emerge from the Crypto.com ecosystem, renamed Cronos (CRO). VVS Finance’s goal is to offer instant swaps for liquidity providers (LPs) with low fees, low slip and attractive returns. As a reward for providing liquidity, two-thirds of the clearing fees collected on the exchange are distributed to the LPs of the respective pools, and the LP token can also be locked in the protocol’s Crystal Farms to earn VVS rewards.
According to data from DefiLlama, the current TVL for VVS funding is $1.35 billion and more than half of the $2.37 billion value locked in the Chronos network.
Solidly (SOLID)
Solidly claims to offer a decentralized exchange (DEX) on the Fantom network and “low fees, near-zero slippage in associated assets, and a strong focus on secondary markets for designated locks as NFTs.” In simpler terms, Solidly was designed to function as an interface for exchanging stablecoins and other cryptocurrencies.
DEX is the latest creation by Andre Cronje, DeFi architect and founder of Yearn.finance. It was launched in January 2022 to ensure fair and balanced access to decentralized finance. Despite being launched a little over a month ago, TVL on the protocol recently reached $2.19 billion, surpassing $317 million on March 3 as the broader crypto market experienced a sell-off.
JUNO (JUNO)
Juno is a decentralized, public and permissionless network for smart contracts that is part of the Cosmos ecosystem. The protocol was created by a group of developers, validators and representatives in the Cosmos ecosystem to become a kind of sister hub to Cosmos Hub, which can help “maintain the neutrality of the Hub by transferring smart contract usage/congestion to a designated contract.”
The JUNO price saw a noticeable increase towards the end of December 2021, climbing from a price of $7.70 on December 20 to a record high of $45.85 on March 3rd. Along with the interest in Juno’s cross-chain smart contract capabilities, investors are also interested in several high-profile airdrop protocols distributed to JUNO holders and stakers, such as GovDrop for Neta (NETA) and Marble DAO. cryptocoin.com You can access the DeFi altcoin analyzes that we have transferred here.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.