DeFi
Fortune Reveals Top 5 Cryptocurrency Companies in DeFi Sector
The list was compiled based on a variety of empirical measures and surveys of more than 200 financial executives by Researchscape.
Top 5 DeFi Protocols That Are Disrupting the Crypto Industry
Fortune launched the very first Fortune Crypto 40 benchmark ranking, identifying the top five crypto companies in eight categories.
The eight categories are CeFi, TradFi, VC, NFT, Data, Infrastructure, DeFi and Protocols.
The list was compiled using a variety of empirical metrics and surveys of over 200 financial executives conducted by Researchscape. With the help of longtime crypto economist and journalist Rob Stevens, Fortune developed a methodology to identify the top companies, DAOs, and nonprofits in the industry.
Fortune describes the Crypto 40 as a “definitive list of the most important cryptocurrency companies.” Let’s look at the five Decentralized Finance (DeFi) protocols named among the Crypto 40:
5. Curve:
Curve protocol simplifies the process of swapping ERC-20 tokens and offers support for swapping Ethereum-based Bitcoin tokens and stablecoins like DAI. Additionally, Curve is said to offer users the best exchange rates and low slippage rates and fees for swapping tokens.
4. Aave:
Aave is a decentralized cryptocurrency lending platform that allows users to borrow and lend cryptocurrencies. Aave specializes in over-collateralized loans that require users to deposit cryptocurrencies worth more than their loan amount.
3. DAO Creator:
MakerDAO is developing the Ethereum blockchain technology for borrowing, saving, and a stable cryptocurrency. With the DAI stablecoin, anyone with an ETH wallet and a MetaMask wallet can lend money to each other. The more ETH a user locks into MakerDAO’s smart contracts, the more DAI they can create.
2. Swimming pool:
Lido is a liquid ETH 2.0 staking solution backed by some of the leading blockchain staking providers.
With the stETH token, Lido allows users to stake any amount of ETH, without having to maintain complex infrastructure. Additionally, it allows users to stake their ETH while engaging in on-chain activities of their choice, such as lending and yield farming.
1. Uniswap:
Uniswap is a decentralized exchange with peer-to-peer market-making capabilities. Uniswap is built on the Ethereum platform and is governed by UNI token holders. Uniswap is open source, meaning anyone can view and contribute to its code.
Besides the DeFi sector, Binance, Kraken and Coinbase took the top spots in CeFi, PayPal dominated TradFi and OpenSea dominated the NFT sector.
However, Bitcoin fell behind Ethereum in the protocol rankings, with Polygon taking third place ahead of Solana. Meanwhile, Bitmain came in third in the infrastructure race, behind Ledger and Genesis Digital Assets.