What are the Top 5 DeFi Tokens in 2021?

What Are The Top 5 DeFi Tokens of 2021?

Below mentioned are the top 5 DeFi Coins that have played a major role in the rise of the decentralized marketplace in 2021

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Maker MKR Aave AAVE Compound COMP Pancake Swap CAKE Yearn Finance YF

1. Maker MKR: MKR is the governance token developed using the MakerDAO protocol. If you have a MKR token, it is sMaker MKR: MKR is the governance token developed using the MakerDAO protocol. If you have a MKR token, it is similar to own a stock in a company, they have a say in deciding the company functions.This token users also holds the responsibility in the governance of the Maker protocol

Market Stats of MKR: Circulating Supply - 991,328 Market Cap - $2,876,971,826 Trading Volume - $110,002,631 Price - $2,900.

2. Compound COMP: COMP is a DeFi compound token that is an effective crypto lending platform.

This platform has developed many compound liquidity pools in order to enable its users to accumulate interest on their crypto assets. Once your asset is deposited in one such pool, you would receive a cToken in return.

You can redeem those cTokens when you want to access your assets. In the meantime you will be earning interest based on your investment. Another major advantage of this token is that it offers its users the access to vote on the compound protocol.

Market Stats of COMP:

Circulating Supply - 5,382,416 Market Cap - $2,153,000,492 Trading Volume - $209,116,616 Price - $396.08

3. Aave (AAVE): Aave is another DeFi lending platform which offers a native token called

LEND. This native token enables its users to earn interest as well as borrow on their crypto assets. This platform was initially used just as a place to connect lenders and borrowers, later with added functionalities and improved performance, it began to offer discount fees and staking rewards to its users.

Market Stats of AAVE: Circulating Supply - 12,930,106 Market Cap - $4,122,908,206 Trading Volume - $369,819,696 Price - $316.30

4. Yearn Finance YFI:

Yearn Finance functions on the Ethereum blockchain which allows its users to earn crypto assets through lending and trading. The main objective of YFI is to provide high yields for staking Ethereum, stablecoins and other altcoins. It lessens the cost of Ethereum transactions using a special feature called Vault which is mainly built to generate high returns from other DeFi projects. It also lets the investors optimize their returns with minimal intervention.

Market Stats of YFI:

Circulating Supply - 36,635 Market Cap - $1,149,632,227 Trading Volume - $190,806,187 Price - $30,848.30

5. PancakeSwap (CAKE):

PancakeSwap is basically an automated market maker developed on Binance Smart Chain. In other words, PancakeSwap is just like Uniswap with some new features. CAKE is the native token of this platform. Here the users can stake liquidity token and earn CAKE or can stake CAKE in order to earn more CAKE or BEP20 tokens. The users can also acquire NFT collectibles and will have the possibility to play virtual lottery.

Market Stats of CAKE: Circulating Supply - 203,020,256 Market Cap - $3,092,645,069 Trading Volume - $314,560,874 Price - $15.16