DeFi Coins
DeFi Token in a nutshell
- DeFi Coins (DeFi Token) are cryptocurrencies that are used in the context of decentralized financial products.
- The best known DeFi Coins are Maker (MKR), Aave (LEND), Compound (COMP), Uniswap (UNI) and yearn.finance (YFI).
- The purpose of these coins is often governance (control of the protocol). Alternatively, they represent the shares in the fees of the DeFi product.
- All DeFi Coins can be bought on the decentralized 1inch.exchange.
New hype or real innovation?
If you will, DeFi Coins have been around for a very long time. One of the first big ICOs was the Bancor Crowdsale (BNT), and Maker (MKR), 0x (ZRX) or Kyber (KNC) have also been around for a while. They are all DeFi Coins in the broad sense.
The special thing about the new generation of tokens, however, is not that they are DeFi coins, but the way the tokens have recently been put into circulation:
While in ICOs you could simply “invest” Ethereum (ETH) in an idea, or often not even that, to secure coins of the project, DeFi Coins are currently distributed primarily to users of the platform or protocol associated with the token. In the case of compound.finance, for instance, this is done to increase liquidity on the platform, making it more useful to all other users. This in turn leads to an increased network effect. The value this creates, as the theory goes, benefits COMP token holders in the long run.
Overview of the top DeFi coins
| Price | 1 h | 1 day | 7 days | 30 days | 1 year | 2 years | YTD | ATH | Market Cap | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  |
Lido Staked Ether - STETH | 3.310,53 $ | 0,1% | -0,6% | 8,3% | 25,8% | 60,2% | 196,5% | 42,0% | -30,2% | 32,377 bn $ | |
|
| 2 |  |
Wrapped Bitcoin - WBTC | 97.538,00 $ | -0,4% | 0,7% | 9,6% | 44,8% | 160,9% | 505,9% | 124,2% | -0,7% | 14,248 bn $ | |
|
| 3 |  |
Chainlink - LINK | 15,16 $ | 0,1% | 0,6% | 13,9% | 26,4% | 6,1% | 138,4% | -1,9% | -69,9% | 9,489 bn $ | |
|
| 4 |  |
Uniswap - UNI | 9,45 $ | 0,7% | 1,5% | 16,9% | 17,5% | 54,7% | 79,0% | 24,8% | -78,2% | 5,675 bn $ | |
|
| 5 |  |
Dai - DAI | 1,00 $ | -0,1% | 0,1% | 0,3% | 0,2% | 0,4% | 0,1% | 0,4% | -75,4% | 3,425 bn $ | |
|
| 6 |  |
Aave - AAVE | 164,34 $ | -0,4% | -1,0% | 5,8% | 7,6% | 72,1% | 190,8% | 43,5% | -74,4% | 2,460 bn $ | |
|
| 7 |  |
Injective - INJ | 24,55 $ | 0,1% | 0,1% | 5,3% | 17,4% | 52,0% | 1.444,0% | -37,6% | -52,1% | 2,399 bn $ | |
|
| 8 |  |
The Graph - GRT | 0,2140 $ | 0,0% | -2,9% | 23,1% | 28,0% | 49,8% | 288,2% | -1,3% | -90,9% | 2,043 bn $ | |
|
| 9 |  |
THORChain - RUNE | 5,21 $ | 0,2% | -2,3% | -4,9% | 0,2% | -11,2% | 365,2% | -1,1% | -74,4% | 1,767 bn $ | |
|
| 10 |  |
Raydium - RAY | 6,09 $ | -0,7% | 2,8% | 30,4% | 128,9% | 1.435,5% | 0% | 347,8% | -61,0% | 1,772 bn $ | |
|
| 11 |  |
Ethena - ENA | 0,5941 $ | -1,2% | 2,1% | 7,9% | 53,9% | 0% | 0% | 0% | -58,2% | 1,686 bn $ | |
|
| 12 |  |
Jupiter - JUP | 1,10 $ | -0,1% | -2,2% | 2,0% | 11,6% | 0% | 0% | 0% | -33,7% | 1,483 bn $ | |
|
| 13 |  |
Pyth Network - PYTH | 0,3972 $ | -0,1% | -4,0% | -1,8% | 14,9% | -8,7% | 0% | 14,3% | -63,1% | 1,437 bn $ | |
|
| 14 |  |
Maker - MKR | 1.633,13 $ | 1,2% | 2,2% | 13,4% | 35,7% | 11,1% | 151,0% | -1,4% | -74,0% | 1,439 bn $ | |
|
| 15 |  |
Marinade Staked SOL - MSOL | 315,55 $ | -0,5% | 2,2% | 21,3% | 53,9% | 373,0% | 2.323,6% | 152,3% | 0% | 1,348 bn $ | |
|
| 16 |  |
Lido DAO - LDO | 1,22 $ | 0,4% | -0,2% | 8,6% | 7,0% | -53,4% | 8,9% | -58,1% | -81,3% | 1,093 bn $ | |
|
| 17 |  |
Aerodrome Finance - AERO | 1,29 $ | -0,1% | 0,1% | -7,3% | 9,3% | 0% | 0% | 0% | -33,5% | 0,902 bn $ | |
|
| 18 |  |
dYdX - DYDX | 1,29 $ | 1,0% | 0,3% | 7,9% | 13,2% | 0% | -27,5% | 0% | -94,8% | 0,899 bn $ | |
|
| 19 |  |
Binance Staked SOL - BNSOL | 259,60 $ | -0,4% | 2,7% | 21,7% | 54,1% | 0% | 0% | 0% | 0% | 0,840 bn $ | |
|
| 20 |  |
Pendle - PENDLE | 5,01 $ | 0,7% | -4,5% | -0,6% | 3,7% | 357,5% | 0% | 304,0% | -26,8% | 0,820 bn $ | |
|
| 21 |  |
Gnosis - GNO | 261,32 $ | 0,0% | -1,3% | 6,3% | 35,1% | 31,3% | 227,8% | 29,9% | -55,8% | 0,676 bn $ | |
|
| 22 |  |
Frax - FRAX | 1,00 $ | 0,2% | 0,6% | 0,9% | 0,4% | 0,2% | 0% | 0,3% | -1,9% | 0,650 bn $ | |
|
| 23 |  |
Terra Luna Classic - LUNC | 0,000113 $ | -0,1% | 3,5% | 14,6% | 21,1% | 51,8% | -30,4% | -21,4% | -79,4% | 0,620 bn $ | |
|
| 24 |  |
Synthetix Network - SNX | 1,80 $ | 0,4% | -2,0% | 20,5% | 16,9% | -47,8% | 7,1% | -56,0% | -93,4% | 0,589 bn $ | |
|
| 25 |  |
dYdX - ETHDYDX | 1,28 $ | 0,9% | 0,5% | 6,2% | 12,3% | -63,0% | 0% | -58,0% | -71,2% | 0,581 bn $ | |
|
| 26 |  |
Super OETH - SUPEROETHB | 3.302,31 $ | 0,0% | -0,9% | 8,0% | 25,5% | 0% | 0% | 0% | -2,1% | 0,549 bn $ | |
|
| 27 |  |
PancakeSwap - CAKE | 1,94 $ | 0,2% | 0,2% | 7,7% | 2,6% | -21,1% | -48,1% | -44,1% | -95,3% | 0,549 bn $ | |
|
| 28 |  |
Ether.fi Staked BTC - EBTC | 97.194,00 $ | -0,2% | 1,3% | 9,7% | 44,1% | 0% | 0% | 0% | -1,5% | 0,545 bn $ | |
|
| 29 |  |
Curve DAO - CRV | 0,4369 $ | 0,0% | 7,1% | 57,4% | 68,4% | -24,4% | -30,5% | -30,3% | -94,1% | 0,540 bn $ | |
|
| 30 |  |
Frax Ether - FRXETH | 3.306,35 $ | 0,3% | -0,5% | 8,4% | 25,9% | 60,0% | 0% | 43,1% | -18,3% | 0,509 bn $ | |
|
| 31 |  |
Kava - KAVA | 0,4530 $ | 0,4% | -1,1% | 19,3% | 24,6% | -39,3% | -56,1% | -50,3% | -94,7% | 0,490 bn $ | |
|
| 32 |  |
tBTC - TBTC | 97.601,00 $ | -0,2% | 0,7% | 9,9% | 44,8% | 161,4% | 0% | 0% | -1,1% | 0,488 bn $ | |
|
| 33 |  |
Jito - JTO | 3,61 $ | 2,8% | 20,4% | 33,6% | 66,4% | 0% | 0% | 83,2% | -28,5% | 0,473 bn $ | |
|
| 34 |  |
Compound - COMP | 53,37 $ | 0,1% | -1,6% | 14,0% | 19,2% | 5,4% | 41,4% | -12,4% | -93,8% | 0,472 bn $ | |
|
| 35 |  |
1inch - 1INCH | 0,3373 $ | 0,0% | 0,4% | 21,4% | 23,4% | -4,5% | -36,9% | -29,8% | -95,5% | 0,431 bn $ | |
|
| 36 |  |
WOO - WOO | 0,2175 $ | -1,1% | -5,0% | -8,6% | 8,9% | -2,5% | 97,3% | -49,8% | -86,9% | 0,401 bn $ | |
|
| 37 |  |
Reserve Rights - RSR | 0,007510 $ | 0,0% | -3,2% | 12,7% | 4,2% | 213,9% | 97,4% | 127,6% | -93,4% | 0,398 bn $ | |
|
| 38 |  |
Ether.fi - ETHFI | 1,86 $ | -0,2% | 3,5% | 25,0% | 14,8% | 0% | 0% | 0% | -77,0% | 0,387 bn $ | |
|
| 39 |  |
Osmosis - OSMO | 0,5486 $ | 1,0% | 1,0% | 21,2% | 4,4% | -13,7% | -46,9% | -64,6% | -95,0% | 0,381 bn $ | |
|
| 40 |  |
cWBTC - CWBTC | 1.965,41 $ | -0,3% | 1,0% | 9,7% | 45,1% | 161,5% | 0% | 125,0% | -0,5% | 0,380 bn $ | |
|
| 41 |  |
Staked Frax Ether - SFRXETH | 3.643,63 $ | -0,4% | -0,7% | 8,3% | 25,7% | 65,6% | 0% | 46,3% | -16,7% | 0,380 bn $ | |
|
| 42 |  |
0x Protocol - ZRX | 0,4362 $ | 0,7% | 2,5% | 23,4% | 25,1% | 0% | 127,3% | 17,3% | -81,4% | 0,370 bn $ | |
|
| 43 |  |
Amp - AMP | 0,004606 $ | 0,3% | -0,3% | 12,2% | 12,3% | 82,6% | 35,8% | 24,6% | -95,6% | 0,372 bn $ | |
|
| 44 |  |
Drift Protocol - DRIFT | 1,32 $ | 0,0% | -3,4% | 11,1% | 139,9% | 0% | 0% | 0% | -26,7% | 0,339 bn $ | |
|
| 45 |  |
JUST - JST | 0,0335 $ | 0,0% | -0,1% | 0,0% | 14,4% | 7,1% | 55,9% | 4,2% | -61,2% | 0,332 bn $ | |
|
| 46 |  |
Olympus - OHM | 20,58 $ | -0,6% | -0,7% | 17,8% | 29,5% | 80,4% | 144,4% | 78,6% | -98,7% | 0,331 bn $ | |
|
| 47 |  |
Tribe - TRIBE | 0,6945 $ | 44,8% | 41,3% | 5,7% | 54,1% | 133,3% | 255,6% | 107,4% | -66,9% | 0,316 bn $ | |
|
| 48 |  |
Aevo - AEVO | 0,3528 $ | 0,3% | 1,0% | 6,0% | -5,5% | 0% | 0% | 0% | -89,0% | 0,313 bn $ | |
|
| 49 |  |
Terra - LUNA | 0,4510 $ | -0,1% | 7,4% | 24,3% | 18,3% | -28,3% | -70,7% | -47,2% | -99,6% | 0,310 bn $ | |
|
| 50 |  |
GMX - GMX | 28,48 $ | 0,2% | -4,4% | 4,9% | 22,7% | -44,9% | -30,0% | -50,5% | -67,7% | 0,280 bn $ | |
|
| 51 |  |
Telcoin - TEL | 0,003430 $ | -1,0% | 22,3% | 51,2% | 112,8% | 27,1% | 63,6% | 154,9% | -94,1% | 0,266 bn $ | |
|
| 52 |  |
Nexus Mutual - NXM | 73,32 $ | -0,1% | -1,1% | 7,5% | 26,4% | 245,0% | 98,5% | 45,2% | -59,9% | 0,253 bn $ | |
|
| 53 |  |
VVS Finance - VVS | 0,000005 $ | -0,2% | 2,3% | 14,0% | 0% | 45,8% | 43,8% | 35,3% | -88,2% | 0,239 bn $ | |
|
| 54 |  |
Loopring - LRC | 0,1802 $ | 0,6% | -0,2% | 29,5% | 39,3% | -13,6% | -22,7% | -42,0% | -94,6% | 0,224 bn $ | |
|
| 55 |  |
UMA - UMA | 2,57 $ | 0,4% | 0,7% | 9,2% | -3,7% | 42,0% | 61,6% | 12,7% | -92,1% | 0,216 bn $ | |
|
| 56 |  |
Convex Finance - CVX | 2,62 $ | -0,8% | -0,3% | 38,4% | 44,0% | -30,1% | -33,2% | -22,9% | -94,9% | 0,215 bn $ | |
|
| 57 |  |
yearn.finance - YFI | 6.405,46 $ | 0,1% | -1,3% | 6,4% | 25,2% | -22,6% | 3,8% | -22,4% | -91,7% | 0,215 bn $ | |
|
| 58 |  |
API3 - API3 | 1,83 $ | 0,0% | 1,9% | 12,6% | 4,6% | 33,6% | 30,7% | -7,6% | -77,2% | 0,214 bn $ | |
|
| 59 |  |
Rocket Pool - RPL | 10,02 $ | -0,1% | -0,9% | 5,1% | -12,6% | -65,3% | -36,2% | -67,6% | -83,4% | 0,209 bn $ | |
|
| 60 |  |
aBTC - ABTC | 94.798,00 $ | -0,2% | 1,3% | 10,1% | 41,4% | 0% | 0% | 0% | -0,5% | 0,205 bn $ | |
|
| 61 |  |
Treehouse ETH - TETH | 3.917,84 $ | 0,1% | 0,0% | 8,2% | 0% | 0% | 0% | 0% | -2,0% | 0,204 bn $ | |
|
| 62 |  |
Lorenzo stBTC - STBTC | 93.664,00 $ | -0,3% | 0,3% | 9,3% | 0% | 0% | 0% | 0% | -0,6% | 0,204 bn $ | |
|
| 63 |  |
Sun Token - SUN | 0,0208 $ | 0,2% | -0,9% | -6,1% | 11,3% | 257,1% | 0% | 154,7% | -47,9% | 0,203 bn $ | |
|
| 64 |  |
Frax Share - FXS | 2,38 $ | -0,4% | -1,0% | 13,1% | 15,0% | -67,2% | -44,7% | -73,6% | -94,3% | 0,202 bn $ | |
|
| 65 |  |
Band Protocol - BAND | 1,33 $ | 0,6% | 1,8% | 12,3% | 11,8% | -5,7% | 0% | -36,4% | -93,8% | 0,192 bn $ | |
|
| 66 |  |
Orca - ORCA | 3,62 $ | 0,3% | 3,0% | 5,3% | 56,0% | 46,0% | 0% | -41,9% | -58,8% | 0,191 bn $ | |
|
| 67 |  |
cETH - CETH | 66,46 $ | 0,0% | -0,5% | 7,9% | 25,5% | 60,0% | 191,4% | 41,9% | -30,7% | 0,190 bn $ | |
|
| 68 |  |
Maple - MPL | 24,01 $ | -0,5% | 3,2% | 7,7% | 33,7% | 73,4% | 0% | 40,1% | -63,2% | 0,188 bn $ | |
|
| 69 |  |
SPACE ID - ID | 0,4362 $ | 0,6% | -1,4% | 5,6% | 5,3% | 81,4% | 0% | 41,2% | -74,5% | 0,188 bn $ | |
|
| 70 |  |
Cetus Protocol - CETUS | 0,3066 $ | -0,8% | -4,4% | -17,2% | 0% | 0% | 0% | 0% | -29,3% | 0,185 bn $ | |
|
| 71 |  |
Kamino - KMNO | 0,1356 $ | 0,1% | 7,7% | 1,8% | 32,7% | 0% | 0% | 0% | -20,0% | 0,183 bn $ | |
|
| 72 |  |
Moonwell - WELL | 0,0587 $ | 0,8% | -3,0% | -10,3% | -1,2% | 0% | 0% | 0% | -42,4% | 0,175 bn $ | |
|
| 73 |  |
Tellor Tributes - TRB | 66,76 $ | 0,2% | -0,6% | 1,5% | 1,1% | -27,2% | 0% | -64,2% | -75,8% | 0,175 bn $ | |
|
| 74 |  |
Bybit Staked SOL - BBSOL | 265,72 $ | -0,2% | 2,2% | 22,8% | 54,1% | 0% | 0% | 0% | 0% | 0,166 bn $ | |
|
| 75 |  |
Alchemix USD - ALUSD | 0,9933 $ | 0,2% | 0,3% | 0,7% | 0,2% | -0,4% | -0,1% | -0,1% | -2,6% | 0,165 bn $ | |
|
| 76 |  |
Kelp Gain - AGETH | 3.383,14 $ | 0,8% | -0,6% | 8,3% | 25,7% | 0% | 0% | 0% | -2,3% | 0,155 bn $ | |
|
| 77 |  |
Instadapp - INST | 3,83 $ | 0,0% | 3,6% | 19,9% | 0% | 0% | 0% | 0% | -60,6% | 0,151 bn $ | |
|
| 78 |  |
JOE - JOE | 0,4052 $ | -0,4% | 7,5% | 12,5% | 17,4% | 8,0% | 0% | -37,9% | -91,4% | 0,150 bn $ | |
|
| 79 |  |
Sushi - SUSHI | 0,7782 $ | 0,5% | -1,1% | 9,0% | 3,9% | -29,0% | -33,5% | -43,6% | -96,7% | 0,150 bn $ | |
|
| 80 |  |
StakeWise Staked ETH - OSETH | 3.417,99 $ | 0,2% | 3,8% | 8,1% | 25,9% | 0% | 0% | 0% | -16,7% | 0,149 bn $ | |
|
| 81 |  |
Marlin - POND | 0,0178 $ | 0,0% | 5,8% | 62,6% | 0% | 75,2% | 0% | 17,1% | -53,3% | 0,144 bn $ | |
|
| 82 |  |
Balancer - BAL | 2,37 $ | 0,2% | -0,4% | 16,6% | 15,6% | -35,8% | -55,4% | -47,9% | -96,7% | 0,144 bn $ | |
|
Overview of larger DeFi coins
Compound (COMP)
The rapid rise of the COMP token (currently ranked 111th with €0.70 billion market cap), has pushed the concept of DeFi Token into the spotlight.
Exchanges where to buy COMP:
Maker (MKR)
Maker DAO’s token (currently ranked 67th with €1.53 billion market cap) is both a governance token and benefits from fees that accrue when DAI makes loans part of the “stability fee”. In addition, the MKR token serves as a hedge for the loans in case of catastrophic Black Swan events.
Buy MKR:
0x (ZRX)
0x (pronounced ZeroX) is the governance token of the 0x protocol, which enables decentralized exchanges. It was issued as part of a regular ICO in 2017. 0x is currently ranked (currently 144th with €0.45 billion market cap) and primarily serves as a governance token for the 0x protocol.
Buy ZEX on:
Synthetix Network Token (SNX)
On the Synthethix Exchange you can buy synthetic investment products (“synths”) that replicate the price of gold or stock. It serves as a backup for the system. Via staking of the SNX, the fees incurred when buying and selling the Synths are distributed via new SNX tokens. (currently ranked 102nd with €0.82 billion market capitalization).
Buy SNX on:
Kyber Network Crytal (KNC)
Kyber is a decentralized exchange and liquidity pool. The KNC token was sold as part of an ICO. The KNC token is used to secure the system financially. It also incurs fees that are distributed to KNC holders. Kyber is currently ranked 249th with a market capitalization of €0.21 billion.
Buy KNC on:
Aave (AAVE)
Aave (formerly ETHLend) is also a protocol for lending and borrowing. Aave became known for the possibility of “flash loans”, which are loans that you get within an Ethereum transaction and pay back again to work with it in other protocols. (currently ranked with 0.00 billion euros market cap.
More DeFi Coins:
Terra (LUNA) – DeFi and Stablecoin on Proof-of-Stake Blockchain.
Yearn.Finance (YFI) – aggregator of various DeFi products to make the most of yield farming opportunities.