A new class of DeFi protocols is emerging to challenge what’s left of 2021, as cross-blockchain bridges and interoperability allow for easier migration of assets to other blockchains. Here are three DeFi altcoin projects launched in some of the emerging layer-1 Blockchain networks that caught the attention of the crypto community as the market plummeted…
is the largest DeFi protocol to emerge from the Crypto.com ecosystem, which has been renamed as . VVS Finance’s goal is to offer instant swaps for liquidity providers (LPs) with low fees, low slip and attractive returns. As a reward for providing liquidity, two-thirds of the clearing fees collected on the exchange are distributed to the LPs of the respective pools, and the LP token can also be locked in the protocol’s Crystal Farms to earn VVS rewards.
According to data from DefiLlama, the current TVL for VVS funding is $1.35 billion and more than half of the $2.37 billion value locked in the Chronos network.
Solidly (SOLID)
Solidly, a decentralized exchange (DEX) on the Fantom network and a strong focus on secondary markets for “low fees, near-zero slippage in associated assets, and specified locks as NFTs ” he claims to offer. In simpler terms, Solidly was designed to function as an interface for exchanging stablecoins and other cryptocurrencies.
DEX is the latest creation by DeFi architect and Yearn.finance founder Andre Cronje. It was launched in January 2022 to ensure fair and balanced access to decentralized finance. Despite being launched a little over a month ago, TVL on the protocol recently reached $2.19 billion, surpassing $317 million on March 3 as the broader crypto market experienced a sell-off.
JUNO (JUNO)
Juno is a decentralized, public, permissionless network for smart contracts that is part of the Cosmos ecosystem. The protocol was created by a group of developers, validators and representatives in the Cosmos ecosystem to become a kind of sister hub to Cosmos Hub, which can help “maintain the neutrality of the Hub by transferring smart contract usage/congestion to a designated contract.”
JUNO price saw a noticeable increase towards the end of December 2021, climbing from $7.70 on December 20 to a record $45.85 on March 3 . Along with the interest in Juno’s cross-chain smart contract capabilities, investors are also interested in several high-profile airdrop protocols distributed to JUNO holders and stakers, such as GovDrop for Neta (NETA) and Marble DAO. You can access the DeFi altcoin analysis, which we have transferred as Kriptokoin.com, here.
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