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Top Decentralized Exchange Projects Set To Bloom in 2022: Convex Finance (CVX), Aave (AAVE), Parody Coin (PARO)

Top Decentralized Exchange Projects Set To Bloom in 2022: Convex Finance (CVX), Aave (AAVE), Parody Coin (PARO)

Decentralized exchanges (DEX) are non-custodial exchanges that allow users to buy, sell, swap, trade, and stake crypto tokens. They do not hold any funds and users are free to move within the protocol as they wish. 

There are various kinds of DEXs, some focus on only one blockchain e.g. Uniswap (UNI) allows users to swap between any Ethereum (ETH) ERC-20 tokens. On the other hand, other DEXs support multiple currency pairs across multiple chains. 

There is a DEX for every kind of trade which makes them a valuable part of the crypto ecosystem, yet with the number of systems available, it can be challenging for investors to know which are the most worthwhile to invest in. 

Here are the top decentralized exchanges investors should watch in 2022: Convex Finance (CVX), Aave (AAVE), and Parody Coin (PARO). These projects are using unique methods to provide liquidity for the crypto ecosystem. 

Here is a brief breakdown of each project.

Convex Finance (CVX)

Convex Finance (CVX) is a liquidity protocol that allows Curve (CRV) token holders to stake their CRV tokens in return for boosted CRV rewards as CVX tokens and staking fees without staking on Curve. This helps CRV token holders to unlock more liquidity without tying down their capital on the Curve protocol. 

Furthermore, this act makes Convex Finance (CVX) one of the biggest players in the CRV wars, a battle for CRV tokens. Curve is the largest DEFI protocol by TVL (Total Value Locked) or simply put the amount of liquidity staked on the protocol.

The goal is to gain as many CRV tokens as possible so Convex Finance (CVX) can influence the interest rates on the Curve platform. 

By acquiring the CRV token, Convex Finance (CVX) would be in the position to control the exchange and regulate interest rates. The CRV token is the governance token of the DEX which makes it quite valuable. 

As a big player, it is set to bloom in 2022.

Aave (AAVE)

Aave (AAVE) is a DEX that allows its users to borrow and lend crypto in exchange for fees. 

Lenders can deposit their crypto into liquidity pools while borrowers use their crypto as collateral to take out leveraged loans. Borrowers pay fees to the liquidity pools which lenders share in proportion to how much liquidity was contributed to the pool. 

Aave (AAVE) was initially launched as ETHLend in 2017 but rebranded in 2018. The protocol has since been a pivotal DEX for users to stake crypto and earn fees.

The Aave (AAVE) token serves as the governance token of the protocol. It gives its users the right to vote on decisions affecting the future of the protocol. 

In addition, borrowers can use the AAVE token to reduce the fees they have to pay when they borrow from the pool. 

Parody Coin (PARO)

Parody Coin (PARO) is a multi-chain DEX aggregator that sources liquidity across various chains. It would allow investors and traders to find the best pools across multiple chains while optimizing fees and interest earned on deposited crypto. 

With Parody Swap, users can swap seamlessly between crypto pairs with little or no slippage. 

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Furthermore, the PARO token is used to distribute rewards and incentivize its users to continue using the protocol.

The Parody Coin (PARO) protocol is going to change the way liquidity is sourced in crypto. It will allow users to eliminate the burden of high fees by bringing liquidity to one spot. 

In addition, it will help traders compare pools and get the best return for their liquidity. To be a part of the Parody Coin (PARO) project, join their presale now. 

Check below for official links.

Join Presale: https://presale.parodycoin.io/register

Website: https://parodycoin.io/

Telegram: https://t.me/PARODYCOIN_OFFICIAL

Twitter: https://twitter.com/ParodyCoin

Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice 

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