Decentralized Finance (DeFi) projects are projects that use blockchain technologies to create financial platforms that operate on their own and without the need for a central intermediary such as banks or traditional financial authorities. DeFi allows individuals to access various financial services such as lending and borrowing, cryptocurrency exchange, margin trading, etc., through smart contracts and crypto-protocols.
DeFi project currencies include a variety of digital currencies and tokens that participants in these platforms use to exchange value or to fund smart contracts. Among these currencies:
1. Ethereum (ETH): Ethereum is one of the most popular blockchains that supports DeFi applications, as the Ethereum protocol is frequently used to build smart contracts and decentralized financial applications.
2. Uniswap (UNI): It is a decentralized currency exchange (DEX) protocol on Ethereum, used to trade crypto tokens with open access to anyone without the need for a user account.
3. Compound (COMP): Compound is a decentralized lending and borrowing protocol, where users can deposit their digital assets to earn interest or borrow assets for trading.
4. Aave (AAVE): The Aave protocol is the last decentralized lending and borrowing platform on Ethereum, with features such as variable interest lending and staking.
5. MakerDAO (MKR/DAI): MakerDAO is a protocol for creating and issuing digital stablecoins such as DAI, and uses MKR as a control currency within the network.
These are just some examples of currencies associated with DeFi projects. These projects are diverse and constantly evolving, and new currencies may emerge or dynamics in the landscape change as technology and innovation in the field advance.
