4 Top Money-Making Decentralized Finance Applications

A List of 4–6 (And TWO Bonus!) #DeFi solutions, explained simply

Who’s Counting, Anyway?

Today we’ll discuss some of the top Decentralized Finance (DeFi) applications that exist, serving people in a trustless manner around the world.

What do I mean by trustless? Given Ether’s immutable (cannot change) smart contracts, the behavior of the money moved around DeFi is such that it cannot be stolen, hacked, lost or misappropriated. Moreover, to earn the word ‘trustless,’ I don’t have to put my trust into a given person or organization — instead, I trust the underlying technology of the contracts they’ve devised. It’s trustless!

I’ve separated the following doc into four sections, comparing the platforms in each: Trading, Borrowing, WBTC Borrowing, and Lending.

With up to 5x leverage available to traders, dydx protocol at dydx.exchange and folks like Antonio Juliano and Zhuoxun Yin bring you a beautiful night-mode interface that allows you to trade some of your favorite assets. Some people — especially those burned by Mt. Gox or other exit scams — are risk-averse to what we call ‘counterparty risk.’ What this means is that some people would much rather have less single points of failure when it comes to the custody of their money — and now we can even trade with leverage on platforms like dydx, so who needs centralized exchanges and their bankster owners?