Binance, Exchanges

What DeFi Coins Are on Binance?

The decentralized finance (DeFi) space has seen explosive growth in recent months, with the total value locked in DeFi protocols reaching over $13 billion. This growth has been driven by the launch of numerous new protocols and the tokenization of real-world assets on the Ethereum blockchain.

One of the leading cryptocurrency exchanges, Binance, has been at the forefront of this growth, listing a number of DeFi protocols and tokens on its platform. In this article, we will take a look at some of the top DeFi coins that are currently available on Binance.

1. Maker (MKR)

Maker is a decentralized autonomous organization (DAO) that aims to minimize the price volatility of its stablecoin, Dai. MKR is the native token of the Maker platform and is used to governance and stability fees.

MKR holders can vote on proposals to change the Dai Credit System parameters and also have the ability to mint new Dai.

2. Compound (COMP)

Compound is a protocol that allows users to earn interest on their cryptocurrency holdings or borrow assets using their crypto as collateral. COMP is an ERC-20 token that is used to governance the Compound protocol.

COMP holders can vote on proposals to change Compound’s interest rates or collateralization ratios.

NOTE: WARNING: Trading in DeFi coins on Binance carries a high degree of risk and may not be suitable for all investors. You should never invest more than you are willing to lose. The prices of cryptocurrencies can be extremely volatile and unpredictable, so please make sure you understand the risks involved before trading.

3. Synthetix (SNX)

Synthetix is a protocol that allows users to trade synthetic assets, which are digital representations of real-world assets. SNX is an ERC-20 token that is used as collateral to mint new synthetic assets.

SNX holders can also stake their tokens to earn fees from trades made using synthetic assets minted from their stake.

4. Aave (AAVE)

Aave is a protocol that allows users to earn interest on their cryptocurrency holdings or borrow assets using their crypto as collateral. AAVE is an ERC-20 token that is used as collateral in the Aave protocol and also earns users interest when staked.

AAVE holders can also vote on proposals to change Aave’s interest rates or collateralization ratios.

5. yearn finance (YFI)

yearn finance is a protocol that provides users with yield-generating opportunities through a suite of decentralized finance products. YFI is an ERC-20 token that serves as governance for the yearn finance protocol.

YFI holders can vote on proposals to change yearn finance’s products or fee structure.

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