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DeFi tokens are already changing the way in which most people manage their digital assets. If you are planning to use DeFi tokens to make your online trade easier, then it would be good for you to know a few facts about DeFi tokens and then decide which of these tokens suits you the best.

What are DeFi Tokens?

DeFi tokens are the financial applications that run on a Blockchain network. These tokens provides a decentralized financial platform that doesn’t involve any third party as middleman in order to complete the transaction. DeFi tokens serve in various use cases such as investment, exchange, trading, payment and many more. Users experience several benefits like discounts or reduced interest as incentives for using native DeFi tokens. Such lucrative benefits have reeled in several investors into the industry which has resulted in creating a huge demand for DeFi Token Development Services.

Popular DeFi Coins in 2021

Below mentioned are the top 10 DeFi Coins that have played a major role in the rise of the decentralized marketplace in 2021,

  • Uniswap UNI
  • Chainlink LINK
  • Wrapped Bitcoin WBTC
  • Dai DAI
  • Avalanche AVAX
  • Maker MKR
  • Aave AAVE
  • Compound COMP
  • Pancake Swap CAKE
  • Yearn Finance YFI

Uniswap (UNI):

Uniswap is the superior DeFi token that is currently dominating the decentralized marketplace. Uniswap was primarily built on the Ethereum Blockchain to swap ERC20 tokens easily. It uses an automated market market (AMM) to ensure that the ERC20 tokens traded in its site has enough liquidity. This token allows its users to have complete control over their private keys and also enables them to integrate it with other external wallets. The main advantage of using UNI is that it allows you to trade for less fees.

Market Stats of UNI:

Circulating Supply - 587,370,840 
Market Cap - $12,444,260,050
Trading Volume - $520,819,592
Price - $21.17

Chainlink (LINK):

Chainlink (LINK) is the decentralized network in the DeFi market that has shown a remarkable growth in the industry since its launch that happened in 2019. LINK acts as a link between the data that are being exchanged between several Dapps. It is mainly used to feed real-time data to the smart contracts that run on the Blockchain.

Market Stats of LINK:

Circulating Supply - 443,009,554 
Market Cap - $9,727,111,754
Trading Volume - $1,765,423,392
Price - $21.78

Wrapped Bitcoin (WBTC):

WBTC is an ERC20 token that represents the bitcoin in an Ethereum Blockchain. This WBTC was mainly created to get the bitcoin users to use the Dapps that functions on an Ethereum network. It follows a 1:1 ratio hence every wrapped bitcoin will always posses the same value of its original bitcoin. Every time a bitcoin is deposited at a merchant organization like Ren and Kyber, a wrapped bitcoin is created and once the bitcoin is claimed back by the user, then its wrapped bitcoin will be burnt. One of the main reason to choose WBTC is its speed. The transaction made using WBTC is way more faster that BTC as it runs in the Ethereum Blockchain.

Market Stats of WBTC:

Circulating Supply - 192,574 
Market Cap - $8,046,752,442
Trading Volume - $320,705,912
Price - $41,537.75


DAI is a Stablecoin which functions on Ethereum Blockchain and it was developed by MakerDAO through the Maker platform. It is the first DeFi token that is backed up by other crypto assets as collateral. Since DAI is fully decentralized, it can be integrated with various Dapps and DeFi projects, thus has the ability to provide liquidity to various protocols. Unlike other stablecoins, DAI maintains a steady price that is always close 1USD.

Market Stats of DAI:

Circulating Supply - 5,618,153,723 
Market Cap - $5,626,225,531
Trading Volume - $431,834,311
Price - $1.00

Avalanche AVAX:

Avalanche is a Blockchain platform that allows its users to launch Dapps and trade smart assets. The primary goal of this platform is to enable people to create and trade their own digital assets. This platform’s native token AVAX is used to pay the transaction fees for the network.

Market Stats of AVAX:

Circulating Supply - 173,390,151 
Market Cap - $2,239,581,913
Trading Volume - $70.313.916
Price - $12.80

Maker 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 - $2,900.02

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

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

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 to 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

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

Market Stats Courtesy  : Coinmarketcap

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