The month of October is here and it's time to decide which Defi coin you want! In this blog post, we'll be taking a look at the top five coins that will help make your pockets happy. So without further ado let’s get started.
Maker is a decentralized autonomous organization that creates and backs the Dai stablecoin on the Ethereum blockchain. MKR is an ERC-20 token that is used to stabilize the value of Dai and is also used as a voting token for governance purposes. MKR holders can vote on various aspects of the Maker Protocol, such as debt ceilings and stability fees.
Compound is an Ethereum-based protocol that allows users to earn interest on their cryptocurrency holdings. COMP is the native token of the Compound protocol and is used for governance purposes. COMP holders can vote on various aspects of the protocol, such as interest rates and risk management parameters.
Synthetix is a decentralized synthetic assets platform built on Ethereum. SNX is the native token of the Synthetix network and is used to mint synthetic assets, which are digital assets that track the price of real-world assets. SNX holders can also stake their tokens to earn rewards in other synthetic assets.
Kyber Network is an on-chain liquidity protocol that enables instant swapping of digital assets. KNC is the native token of the Kyber Network and is used to pay fees when exchanging or transferring tokens on the network. KNC holders can also stake their tokens to earn rewards in other digital assets.
Bancor is a decentralized liquidity network that enables instant conversion of digital assets. BNT is the native token of the Bancor network and is used to pay fees when converting or transferring tokens on the network. BNT holders can also stake their tokens to earn rewards in other digital assets.
So, what Defi Coins should you buy and hold in anticipation of their explosive growth in 2022? We’ve compiled a list of the top five coins to watch that are set to experience massive gains in the next few years. Keep an eye on these projects, and be sure to jump on board before they take off!
Your Friend,
Wade
