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These DeFi Tokens Are Really Innovative: Analyst

Sat, 09/03/2022 - 15:56
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Vladislav Sopov
We will remember last bullish cycle due to these seven tokens, DeFi researcher says
These DeFi Tokens Are Really Innovative: Analyst
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Pseudonymous DeFi analyst who goes by @DefiIgnas on Twitter has shared his "Top 7" innovative assets that reinvented decentralized finances in the last bullish run.

Yield farming, elastic supply and more: Most innovative DeFi tokens of 2020-2021

The analyst summarized the most eccentric DeFi concepts the segment saw in the last years. For instance, Ampleforth (AMPL) introduced the "elastic supply" mechanism, a self-adjusting instrument for supply rebalancing driven by the interest in AMPL purchasing.

The Olympus DAO (OHM) token also invited crypto fans to an interesting game theory experiment, allowing them to benefit from either staking, bonding or selling their riches.

Initially launched as an incentive to provide liquidity to the Compound Finance protocol, the COMP token became the symbol of early "yield farming" dashboards.

In turn, Curve Finance's CRV made yield farming more profitable for those who managed to stake it at the right moment. Yearn.Finance (YFI) made headlines in DeFi Summer as it was airdropped for free to create a passionate community around an early-stage protocol.

Yearn.Finance (YFI) Token Spikes Over $90,000: Reasons Behind Pump

As covered by U.Today previously, YFI became the most expensive cryptocurrency of the entire digital asset segment. In May 2021 it jumped from $60,000 to $90,000 in a matter of hours.

Changing narrative in decentralized stablecoins

Nexus Mutual's NXM changed the game in crypto insurance allowing every KYC-ed Ethereum (ETH) investor to earn money for sharing the risks with their peers.

Last but not least, Synthetix employed the SNX cryptocurrency to guarantee a healthy collateralization ratio for the sUSD decentralized stablecoin.

Also, two stablecoins looked like game changers for the analyst: Dai (DAI) introduced the concept of an overcollateralized stablecoin while Frax Finance (FRAX) is the first-ever partially collateralized USD-pegged asset.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)