Published
1 year ago on
May 20, 2022
Decentralized finance (DeFi) is predicted to be the next big thing in cryptocurrency and blockchain technology.
DeFi platforms let users borrow, save, lend, or exchange crypto without financial market bureaucracy. Given this, many people consider the top DeFi coins a good investment opportunity.
The below list includes the top two DeFi cryptocurrencies, which are about to explode in 2022.
- Aave (AAVE)
Aave is one of the most well-established liquidity protocols in the world of decentralised finance (DeFi).
This platform facilitates crypto-collateralized lending and borrowing, which seems advantageous for populations with less access due to weak national currencies.
Launched in 2017, Aave is made up of specific liquidity pools into which lenders can deposit any quantity of cryptocurrency. These coins are then combined and made available to prospective borrowers. Lenders then earn interest from deposited, borrowed cryptocurrencies.
From the borrowers’ standpoint, Aave provides access to crypto-denominated loans. They are not required to have a long credit check or a KYC check; all they have to do is deposit the required quantity of crypto collateral to get their desired loan.
