Get These 5 DeFi Altcoins On Your Radar: “Pregnant For Strong Moves!”

The era of high-risk, high-return in decentralized finance (DeFi) is almost over. In this environment, a new trend of projects offering smaller but more sustainable returns began to take its place. Crypto expert Stefan Stankovic says five DeFi altcoin projects are leaving the group as torches of the emerging “real yield” narrative. The expert shares the projects he has on his radar.

The top DeFi altcoin project GMX (GMX)

GMX is a decentralized spot and perpetual exchange token that has been making the rounds in recent weeks. The altcoin has approached its all-time high price despite the ongoing bear market. GMX hit the market in late 2021. Since then, it has achieved deep liquidity quickly. It has also witnessed an increase in trading volumes. Aside from its visible product market eligibility, much of its success has been based on its unique revenue-sharing model.

The project has two native tokens: GLP and GMX. GLP represents an index of assets available for trading on the platform. GMX is the project’s local governance and revenue sharing token. 70% of exchange trading fees are paid to liquidity providers or GLP token holders in the form of ETH on Arbitrum and AVAX on Avalanche. The remaining 30% goes to GMX stakers. Currently, it gives 14% APR for staking GMX and 28% for holding GLP.

It secures this return through organic profit sharing rather than dilutive token emissions. It has proven attractive to liquidity providers and management token holders. As a result, it accrued the most liquidity in GMX Arbitrum. Holders also staked approximately 86.15% of its total supply. This is one of the highest stakes for a management token in the asset class.

Second line project Synthetix (SNX)

Synthetix is ​​a decentralized protocol for trading synthetic assets and derivatives. SNX has revamped its tokenomic model to bring real returns to its holders. It later came to be one of the oldest protocols in DeFi that found early success in the Ethereum ecosystem. According to Token Terminal data, the protocol generates approximately $82 million in annual revenue. Also, the total amount goes to SNX stakers. SNX has a price of about $3 and a market cap of about $870 million. In this regard, the price-to-earnings ratio of the token stands at 10.47x.

The current APR for staking SNX is around 53%, partly from the return from inflationary staking rewards in the native token and partly from exchange trading fees in the form of sUSD stablecoins. Some liquidity mining rewards come from inflationary token emissions. Therefore, Synthetix is ​​not a pure truth return protocol. Still, it gives one of the highest mixed returns for one-sided staking in the market. As such, it’s one of DeFi’s top revenue-generating protocols. For more information cryptocoin.comCheck out this article.

The third ranked DeFi altcoin project Dopex (DPX)

Dopex is a decentralized options exchange on Arbitrum. It allows users to buy and sell options contracts and passively earn real returns. Its flagship product is Single Stake Options Crates that provide deep liquidity for option buyers and automatic, passive income for option sellers. Alongside SSOVs, Dopex allows users to bet on the direction of interest rates in DeFi through Interest Rate Options. It also allows them to bet on the volatility of certain assets, called Atlantic Straddles.

Altcoins

All Dopex products allow users to get real returns by taking a certain directional risk. Protocol also generates real income through fees it directs to stakeholders. 70% of the fees go to liquidity providers, 5% to delegates, 5% to purchase and burn the protocol’s discount token rDPX, and 15% to DPX unilateral governance stakeholders. As with Synthetix, some wagering returns for DPX come from diluting token emissions. So the liquidity mining model is mixed.

Redacted Cartel (BTRFLY) fourth project

Redacted Cartel is a meta-management protocol that receives tokens from other DeFi projects. In this way, it aims to leverage its governance influence and provide liquidity related services to other DeFi protocols. It currently generates income from three sources. The first is a treasury of governance tokens that generate different returns. The second is Pirex, a product that creates liquid wrappers that allow for the automatic merging and tokenization of future voting events. The result is Hidden Hand, a market for governance incentives or “bribes.”

Altcoins

To earn some of the Redacted Cartel’s revenue, users must ‘revenue-lock’ the protocol’s BTRLFLY token for 16 weeks in order to receive rlBTRFLY. He then receives 50% of Hidden Hand’s income. He also gets 40% of Pirex and 15% to 42.5% of the treasury. The real return is paid in ETH every two weeks. In the last payout, the protocol paid $6.60 worth of ETH per rlBTRFLY from its real income.

Latest DeFi altcoin project Gains Network (GNS)

Gains Network is the decentralized protocol behind gTrade, the persistent and leveraged trading platform. Besides crypto assets, gTrade allows users to trade synthetic assets such as stocks and foreign currencies. Many consider it the strongest competitor of GMX.

Altcoins

The protocol allows stakeholders to earn real returns from trading platform fees in various ways. For example, it is possible for users to stake GNS to earn returns from fees. Or there are possibilities to provide unilateral DAI liquidity. In total, 40% of fees from market orders and 15% of limit orders go to GNS unilateral stakers, who currently generate a compound annual return of about 4% paid in DAI stablecoin. On the other hand, liquidity providers in unilateral DAI vault and GNS/DAI liquidity pools are earning real returns of around 6% and 18% APY.

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