The DeFi analyst, nicknamed DefiIgnas on Twitter, shared the “top 7” innovative altcoin projects that have reinvented the market in the recent bullish period.
The most innovative DeFi altcoin projects of 2020-2021
The analyst summarized the most powerful DeFi concepts the segment has seen in recent years. For example, Ampleforth (AMPL) introduced the “elastic supply” mechanism, a self-adjusting tool for rebalancing supply driven by interest in purchasing AMPL.
1/ Zero to One innovation in tokenomics is hard.
Yet once in a while, a token appears that is so innovative that it changes the trajectory of the industry.
Last #DeFi bull market had a few of those.
These are my top 7🧵
— Ignas | DeFi (@DefiIgnas) September 3, 2022
The Olympus DAO (OHM) token also invited crypto fans to an interesting game theory experiment, allowing them to benefit from staking, tying or selling their wealth. Originally released as an incentive to provide liquidity to the Compound Finance protocol, the COMP token has become a symbol of early “yield farming” boards.
In turn, Curve Finance’s CRV token has made farming ponds more profitable for those who manage to risk it at the right time. Yearn.Finance (YFI) made headlines in the summer of DeFi as it was released for free to build a passionate community around an early-stage protocol.
As we quoted as Kriptokoin.com, YFI has become one of the most expensive coins in the entire cryptocurrency market. It jumped from $60,000 to $90,000 in a matter of hours in May 2021.
Decentralized stablecoin season
The Nexus Mutual NXM token has changed the game in crypto insurance, enabling every KYC-ed Ethereum (ETH) investor to earn money to share the risks with their peers. Finally, Synthetix used the SNX cryptocurrency to guarantee a healthy collateralization rate for the sUSD decentralized stablecoin. Also, for the analyst, it seemed like the two stablecoins would change the game. Dai (DAI) introduces the concept of an overcollateralized stablecoin, while Frax Finance (FRAX) is the first partially collateralized USD stablecoin.
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