• Market Cap
    $1,475.212B -3.03%
  • POW Market Cap
    $1,013.527B -4.37%
  • POS Market Cap
    $144.349B -4.90%
  • Masternodes Market Cap
    $3.392B -6.24%

TOP 5 Yield Farming coins in the crypto space ranked by marketcap - part 2

By Inkarias - 2020-12-19

In the continuity of our previous article presenting the top 5 Yield farming projects classified by Marketcap available, today we are introducing the addition of 5 new projects in this sector always depending on the marketcap and which still represent a significant enthusiasm for them. investors at the end of 2020. Of course, the above list directly excludes the projects that we have already mentioned before, even if these are still present among the top 10 of the market.

Aave – 1,037,687,633 $

The Aave project is a decentralized non-custodial protocol offering users and investors the ability participate as lenders or borrowers in order to benefit from all the advantages of decentralized finance. In this way, lenders provide liquidity to the market in order to generate passive income, while borrowers can take out loans with crypto-assets placed as collateral. The Aave protocol supports now more than a dozen cryptocurrencies, including top coins and stablecoins. When depositing in the Aave protocol, Aave Tokens, aTokens are created at the same time. These tokens track the value of the underlying asset and are burned when the loan is fully repaid. While the underlying asset is on loan to borrowers, aTokens earn interest in real time. In addition, they can be freely stored, transferred and exchanged across the network. The protocol makes possible loans instantly without a guarantee being necessary to ensure that operations run smoothly without incidents.

With the technical vision associated to the project, Aave protocol introduces a new model via a tokenization strategy for liquidity providers. As we specified above, during a deposit, the user receives a corresponding quantity of tokens of derivative products, the aTokens. These tokens are always pegged with a 1: 1 ratio to the underlying assets deposited and constitutes ERC20 tokens on the ethereum network. Each depositor's aToken balance increases over time, due to the permanent accumulation of interest generated by deposits. ATokens natively implement the concept of interest rate reorientation which makes it possible to distinguish the value accumulated over time by the interest paid by borrowers from the initial balance. However, despite the many advantages brought by Aave, it is still not possible to transfer the entire balance in one transaction. Simply put, the exact amount of a transfer cannot be entered, since the interest continues to generate even during the confirmation of the transfer operation. Thus, a small balance will always be present on the sender’s wallet.

To resume the different possibilities with Aave, investors have the possibility to lend crypto-currencies against an annual interest rate, borrow cryptocurrencies in exchange for collateral and payment of interest and can use the flash-loans feature.

Aave Coin Tokenomics

Name : Aave

Ticker : Aave

Official Contract: 0x7fc66500c84a76ad7e9c93437bfc5ac33e2ddae9

Decimals: 18

Blockchain used: Ethereum-Based ERC20 Token

Max supply: 16,000,000

Official Website: https://aave.com/

 

SUSHI – 351,934,345 $

SushiSwap project was created from a hard fork of Uniswap, with additional community-driven functionality while retaining its parent's root design. The project created an important crazy during its launch by « draining » 250 million dollars from Uniswap on the first day and even more in the days following the launch. The functioning of the ecosystem is divided into two parts : the first which involves traders staking Uniswap liquidity pool tokens and getting SUSHI in return for their effort and the second being the direct staking of SUSHI assets on DEX.

To fully understand how SUSHI is bringing innovation to the crypto scene, it is important to draw a parallel with Uniswap. On Uniswap, liquidity providers earn trading fees generated on the network. Small liquidity providers risk being eclipsed by huge cryptocurrency exchanges, mining pools, and other rich providers. But its fallout aims to improve it by offering more incentives. Here the liquidity providers are rewarded in the form of SUSHI tokens. Suppliers receive a portion of the transaction fees generated by the system even when they stop providing liquidity. At the opposite of Uniswap giving out only a small portion of fees to holders, SushiSwap, on the other hand, proportionally distributes 0.25% of a pool's trading fees to liquidity providers. The additional 0.05% is changed to SUSHI and distributed among the token holders.

SUSHI Coin Tokenomics

Name : SUSHI

Ticker : SUSHI

Official Contract: 0x6b3595068778dd592e39a122f4f5a5cf09c90fe2

Decimals: 18

Blockchain used: Ethereum-Based ERC20 Token

Max supply: 250,000,000

Official Website: https://sushiswapclassic.org/

 

DFI.money – 71,253,528 $

YFII is a DeFi protocol forked from Yearn.Finance that facilitates yield aggregation and uses a token halving model to ensure fair token distribution across the network. The YFII token was announced through an original post on Medium. The latter is a fork of YFI, to which YIP8 has been added to bring more value to the technical aspect. The YFII project was born out of a disagreement within the YFI cryptocurrency. YFI community proposed to the project the addition of 30,000 new tokens through the YIP8 to allow more investors to join the boat after the 30,000 original tokens were mined . Thus, the number of new YFIs would be halved each week, on a model similar to the halving of Bitcoin. This proposal, rejected by the community, was the driving force behind the fork of the project for the creation of DFI.Finance

Governance issues on the network are delegated to 11 signatories who commit using a multi-signature model. Seven of the 11 signatories must agree to reach a consensus. However, this is a temporary governance model because the project implements governance through a decentralized autonomous organization. Although the fact that YFII protocol has little room for evolution in the future with administrative key destruction and will surely lack scalability , the projet is still among the top in the DeFi scene and offers a wide variety of vaults and staking solutions to diversify the possibilities for investors.

DFI.Money Tokenomics

Name : DFI.money

Ticker : YFII

Official Contract: 0xa1d0e215a23d7030842fc67ce582a6afa3ccab83

Decimals: 18

Blockchain used: Ethereum-Based ERC20 Token

Max supply: 40,000

Official Website: https://dfi.money/

 

Alpha Finance – 41,607,894 $

Alpha Finance Lab is an ecosystem of DeFi products deployed on the Binance Smart Chain and Ethereum. Launched by the well-known Binance entity , this initiative has a strong focus on developing and deploying an ecosystem of automated and yield-maximizing Alpha products while providing its users with the best cross-chain experience. Alpha Lending represents the first Alpha product available on the Binance Smart Chain (BSC) and a decentralized lending protocol offering algorithmically adjusted rates. The synergy between Alpha products is crucial to optimize the user experience and the team of Alpha, despite the recent launch in late 2020 is still planning improvements and developing other products that will improve performance and solve important DeFi issues. ALPHA will be the primary utility token for the Alpha product portfolio and associated functionalities for passive income, such as staking, reward systems, and governance mechanisms. All Alpha products will be linked to ALPHA and will reward users who use Alpha products and actively participate in the financial products and the network.

The project's first product, called Alpha Lending is a decentralized pool-based lending protocol where users can make a profit by offering assets supported on the protocol. The assets deposited by the lender will be transferred into a smart contract that aggregates the liquidity of each asset in a common fund, which is available to the borrower. The interest payable by the borrower is distributed proportionately with the loan liquidity providers. In short, Alpha finance aims to bring several advantages including a sustainable productivity, minimization of non-permanent liquidity supply losses, protection of privacy via a token and fixed interest rate loans.

Alpha Coin Tokenomics

Name: Alpha Finance

Ticker: ALPHA

Official Contract: 0xa1faa113cbe53436df28ff0aee54275c13b40975

Decimals: 18

Blockchain used: Ethereum-Based ERC20 Token and Binance Smart Chain

Max supply: 1,000,000,000

Official Website: https://alphafinance.io/

 

Harvest Finance – 40,148,557 $

Harvest Finance is a DeFi protocol that aggregates user funds and then uses them in yield farms to achieve the highest returns at low gas costs. The platform currently supports top stablecoins such as DAI, USD Coin, and USDT from Tether, as well as various tokenized assets. Unlike some other pooled yield farming protocols, Harvest has an additional component of the FARM token. FARM is a token that is distributed to capital providers in the pool, liquidity providers to FARM-crypto trading pairs on decentralized exchanges, and a coin that is continually redeemed. 30% of the profits made by the farms are used to buy FARM, which means that the coin essentially provides dividends to the holders and provide incentives to hold. Designed on an old graphic model mixed with innovative financial products, the Harvest project emphasizes the variety and quality of the products rather than the security aspect. On the one hand, there is no multi-signature setup in place, which means that control of the strategies used by farms and the distribution of coins are currently controlled by pseudonymous developers and could lead to future problems. On the other hand, Harvest also seems to go with the strategy of maximizing yields rather than safety for investors.  Furthermore, Harvest Finance has already been suffering from this security lack with the flash attack that we published on our site and available here.

Harvest.Finance Coin Tokenomics

Name Harvest.Finance

Ticker: FARM

Official Contract: 0xa0246c9032bc3a600820415ae600c6388619a14d

Decimals: 18

Blockchain used: Ethereum-Based ERC20 Token

Max supply: 690,420

Official Website: https://harvest.finance/