Decentralised finance, also known as ‘DeFi’, is increasingly making its presence felt in the financial ecosystem by eradicating the need for governed body-approved financial transactions. To eliminate the requirement of intermediaries, this novel digital financial infrastructure leverages smart contracts and cryptocurrencies. DeFi also allows transparency in transactions. Â
Because of these advantages, DeFi with its native tokens has taken decentralised finance (DeFi) to new heights. On that note, let us look at a few DeFi cryptos. Â
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Curve DAO Token (CRV)
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Founded in January 2020, Curve is a decentralised exchange utilising an automated market maker (AMM) for managing liquidity. Curve was founded by Michael Egorov, a Russian scientist with prior experience in cryptocurrency-related businesses. Â
Since the second half of 2020, Curve has grown rapidly to become synonymous with the decentralised finance (DeFi) surge. CRV’s goal is to offer liquidity providers a fee payment mechanism, incentive structure, governance medium, and long-term revenue techniques.Â
Curve formed a decentralised autonomous organisation (DAO) in August, with Curve DAO Token (CRV) as its internal token. A total of 1.68 billion tokens are available. Â
Aragon, an Ethereum-based development tool, is used to connect DAO’s smart contracts to its users’ deposited liquidity. Â
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Chainlink (LINK)
Chainlink was established in 2017. Chainlink enables blockchains to safely interact with external events, data feeds and payment options via a decentralised oracle network. Thus, it delivers crucial off-chain necessary data by complicated smart contracts.Â
Sergey Nazarov is the CEO and co-founder of Chainlink Labs. A big open-source community of security auditors, data providers, researchers, smart contract developers and…
