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Avalanche Network's Top 5 Rising dApps this 2021

Avalanche Network’s Top 5 Rising dApps in 2021

Posted Friday, December 17, 2021 by
Sophia Cruz • 2 min read

Avalanche is a decentralized network, dubbed as the “blockchain for blockchains.” It has the ability to accept other cryptocurrencies and blockchain technologies onto its network. Avalanche is the first DeFi platform that can transact in less than a second, which is why it is one of the most famous blockchain protocols for DeFi platforms and dApps. Ranked as the 12th-largest crypto on the market, with a market cap of $21.7 billion, Avalanche is viewed as an alternative for Ethereum. This article will deal with Avalanche Network’s top rising dApps in 2021.

Pangolin Exchange (PNG)

It utilizes Uniswap’s automated market-making (AMM) model, which includes a utility token, PNG, and can facilitate swapping or trading in all tokens available on the Ethereum and Avalance chains. PNG is the native token that powers the protocol. In a world of DEXs and CEXs, Pangolin projects cost-effective transaction fees and a fully straightforward and fair token distribution system for its fast trade settlement. Pangolin also offers end-to-end compatibility with the Metamask wallet. It currently has liquidity of over $349 million and a volume of 411 billion.

Trader Joe (JOE)

When it comes to the popularity of decentralized exchanges, Trader Joe is the most popular in the Avalanche Network, with over 373,000 clients a month; so far, it is the seventh most famous dApp generally. Trader Joe is your one-stop-shop for decentralized trading on the Avalanche Network, that facilitates its users’ staking, farming and lending options. Aside from providing leverage trading, it also provides the highest staking APR on the market, with a staking APR at 34%. JOE is the governance and reward token of the platform.

Snowbank (SB)

Snowbank DAO is a decentralized reserve currency protocol that is built on the Avalanche network and powered by the SB token. Each SB token is pegged by a basket of assets in the Snowbank DAO treasury, giving its coin a stable value. It aims to build a community with a decentralized monetary infrastructure that provides more transparency and stability for the world. It also presents game-theoretic and economic dynamics to the market through mining and staking. Snowbank has a current trading volume of $3.4 million. The native token of SnowBank is the SB token.

Lydia Finance (LYD)

Lydia Finance is a super financial app that facilitates peer-to-peer transactions with various features and financial products. It promotes staking, yield farming and a launchpad. Lydia Finance allows users to sell, buy, hold and receive LYD as staking rewards. Lydia Finance can be accessed through the Metamask wallet. Lydia is the most popular payment app in France, with a current market cap of $3 million. Since Lydia is built on the Avalanche Network, you can conveniently convert your AVAX tokens to LYD tokens on the platform itself. 

Aave (AAVE)

Aave is a decentralized finance protocol built on the Avalanche network. It enables users to lend and borrow digital assets. AAVE is the native token used for governance and incentives. When it comes to Yield Farming, Aave is one of the top-grossing cryptocurrencies, with a deposit APY of 13.89%. The latest community proposal on Aave’s “business license” ended with 55% of the community voting for the ecosystem to apply for a “business license.”

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