6 tokens that grew exponentially in 2021

6 tokens that grew exponentially in 2021

As new weekly records in defaults locked in Defi were recorded, cryptocurrencies related to decentralized exchanges quietly experienced three-digit jumps.

According to the Kevin Telegraph, decentralized finance has grown steadily over the past year, thanks to the solid foundations created by decentralized exchanges (DEX) for easy access to the latest tokens and projects.

Examples of decentralized exchange user interfaces such as IDEX or Etherdelta already exist. But DeFi network trading really started when it facilitated the launch of financing tokens when the decentralized exchange Uniswap started operating.

Here are six tokens that have performed best in decentralized finance.

Uniswap Token (UNI)

Uniswap
Uniswap

Uniswap was originally a simple user interface that allowed the exchange of tokens between two ERC-20 tokens. But it has now become a major part of rapidly evolving defense, with an average daily trading volume of $ 1 billion and liquidity locked into its protocol of $ 3.95 billion.

The Uniswap platform initially operated without its own internal token, and commissions received were deposited in liquidity reserves. But after launching its rival platform SuchiSwap, the project launched an amazing airdrop for platform users and liquidity providers. The SUSHI swap platform (SUSHI) had the same ion-swap user interface at launch, but also provided a sushi governance token.

The price of the Uniswap (UNI) token quickly rose above $ 7 after being published and listed on several top exchanges, but corrected to $ 1.93 on November 4. Since then, the price of Uniswap has continued to rise, reaching a record high of $ 32.50 on February 20. At the time of writing (March 8), Uniswap set a new all-time high of $ 33.

The excitement of the release of the third edition of Uni Swap and the possibility of stocks and commissions for the holders of this token continue to motivate increased demand and prices.

Sushiswap token (SUSHI)

Sushiswap
Sushiswap

The beginning of Sushiswap has a controversial story. The exchange started as a similar version of Uniswap, and its main developer unloaded its tokens in the market and then donated all the funds to develop the project. But it has since become a top decentralized exchange in terms of user engagement and token prices.

Governance and equity were among the first features Sushiswap owners enjoyed. There were also growing incentives for early liquidity providers, some calling it a “vampire attack” on Uniswap.

The price of the Sushiswap token rose from $ 1.16 on August 29 to $ 8.84 on September 1 after being listed, but the release of the token by major developer Chef Nomi in the open market pushed the Sushiswap token to the bottom of $ 0.475. Fall on November 4.

The token has risen more than 4,080 percent since then, reaching a record high of $ 19.77 on February 20. With $ 3.56 billion in current liquidity for the protocol, Sushiswap ranks sixth among Diffie platforms in terms of total locked value.

Cake token

PancakeSwap
PancakeSwap

PancakeSwap has seen a significant increase in its token price in the first two months of 2021; It has emerged as a competitive decentralized exchange and the first billion dollar project in Smart China Binance (BSC).

Ethereum’s staggering fees (ETH) have paved the way for Smart China Binance to snatch liquidity and users from Atrium’s top competitors, and Cake has stepped in to facilitate this process.

The protocol provides an extensive list of shareholder pools, yield farming opportunities, a collection section and an in-house lottery, which in addition to becoming a Defi platform, has many hot topics in the field of cryptocurrencies.

Prior to the end of January 2021, the cake token was generally trading below $ 0.70 and the bottom price was at $ 0.194 on November 3, 2020. The price increase started around the last week of January, which coincided with the influx of r / Wallstreetbets traders in traditional markets.

The token exploded 11,000 percent after hitting $ 0.194, reaching a historic high of $ 20.33 on Feb. 19 when Smart China Binance became Ethereum’s top competitor thanks to impressive resources in the Binance ecosystem.

Serum Token (SRM)

Serum
Serum

Serum is a decentralized derivatives exchange (futures and options) operating in the Solana blockchain network. This decentralized exchange is the product of a collaboration between the Solana team and the operators of the FTX encrypted derivatives exchange.

Solana was chosen to host the decentralized exchange because it has a potential of 710,000 transactions per second and its current capacity has passed the test of 50,000 transactions per second. Given that Ethereum currently operates at 15 transactions per second and its fees are very high due to network congestion, Solana and Serum could soon see an increase in usage by traders who are looking for lower fees.

Serum allows its token holders to deposit their tokens for dividends and also use them to reduce transaction fees by up to 50%. With the support of inter-chain transactions, this exchange allows the exchange of assets without the need for trust among different blockchains through networks consisting of more than 100 validators.

Following the failure of prices following the launch of Defi in the summer of 2020, the Serum price reached a low of $ 0.78 on November 4 and then climbed with support. Since then, with increasing attention to non-atrium options, serum prices have risen 944 percent to a new high of $ 8.13 on February 25th.

LINA

Linear-Finance
Linear Finance

Linear Finance is a newcomer to the Defi arena, which has just launched on the Smart China Binance after its initial release as the ERC-20 token.

This protocol provides the ability to lock tokens for multiplying synthetic asset tokens in Linear, known as “liquid”. In addition, it allows users to access traditional assets such as foreign currencies and commodities by using dynamic fees and trading them in a decentralized financial context.

The Linear Intermediate Chain method allows users to benefit from lower fees. Also, its built-in Oracle solution helps to address the forwarding problem currently found in Ethereum-based protocols.

Introducing governance capabilities and enabling them to vote on the future direction of the project is part of Linear plans for the future of the protocol. The vote will also include a decision on the amount of the transaction fee and the amount of budget allocated to the insurance fund.

Following the release of the Lina token in September 2020, its price fell to its lowest level on November 19, at $ 0.0047. But after migrating to Smart China Binance and announcing several partnerships and listing in exchanges, it grew by a whopping 3,300 percent to $ 0.112 on February 12th.

Waves Exchange and Defi Growing Software

Waves

Waves is a multi-purpose blockchain that supports a variety of decentralized software and smart contracts, including decentralized exchanges.

One of the inseparable parts of the View ecosystem is the View Exchange, which was first launched in 2017 as Waves DEX. The exchange enabled fast, secure and low-cost trading and equity for major cryptocurrency assets as well as tokens created on the Waves protocol.

The average 24-hour trading volume at Waves Exchange is currently $ 10 million. But the recent rise in the price of WAVES, along with an expanding set of Defi software such as Swop.fi, and a significant increase in ecosystem activity, given that Ethereum network fees are likely to remain high until the full release of Ethereum 2. WAVES will.

6 tokens that grew exponentially in 2021

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