The rise of the DeFi sector has brought a lot of new projects to the attention of the crypto community, as DeFi aims to offer decentralized banking services, particularly targeting the unbanked and underbanked.
The year 2020 has been a great year for cryptocurrencies. Despite the fact that it has been one of the worst years in recent history — one that brought a global pandemic, worldwide protests, and more — it finally allowed crypto to start heading down the real road of recovery.
At the time of writing, Bitcoin’s price sits above $19,000, which is the first time in almost three years that it went up that high. In fact, the coin is currently not far away from its all-time high — only $1k away. With another bullish wave, BTC could bridge that distance within a few hours.
Then, there was the DeFi boom, which finally brought decentralized finance, as well as products and services that the sector has to offer to gain the attention of the wider crypto industry. DeFi skyrocketed this year, and it continues to impress. There are also plenty of new trends, as well as predictions of trends that have yet to come in 2021.
With many new projects rising to new heights, many are interested in discussing which might be considered the most promising coins at the end of 2020, which is what we decided to discuss today.
Top Five Most Promising Projects
The first on the list is Royale — a cross-chain DeFi protocol that focuses on the iGaming industry. Royale connects DeFi liquidity providers with entrepreneurs seeking to bootstrap their own innovative ideas for iGames and platforms infused with blockchain’s transparency and security. Royale’s unique smart-backed liquidity protocol provides that connection, a combination the team calls iGDeFi.
The native ROYA token is one of those rare versatile cryptocurrencies that can be used for liquidity mining, staking, paying stability fees and opening smart-backed liquidity positions. ROYA certainly has a unique use case in the growing DeFi ecosystem because it gives liquidity providers access to uncorrelated value flows based on the platform’s exposure to iGaming investments.
Royale Finance is a platform that provides the support that smaller iGaming platforms need to compete effectively in a fast-growing market supercharged by extended Covid lockdowns and the like. Newer iGaming offerings can attract new players through the use of Royale’s DeFi-backed bankrolling service as well as a suite of Provably Fair games, all of which are supported by its own community. In one convenient package, Royale is a DeFi yield optimizer and decentralized iGaming aggregator that is secure, immutable, and transparent. Learn more about Royale Finance on the project’s website, Twitter and Telegram.
DeFi Million (DEMI)
Next, we have DeFi Million, which brings a new way of decentralized finance interactions between users. This particular project has over a million users that make up its network. The project also has its token, known as DEMI Token, which is available for purchase on Uniswap and other top exchanges.
The token can then be used for staking, trading, or farming. The project is currently in the middle of a private sale, with a public sale expected to follow next.
The project also has a mobile app, The project shares its DEMI Tokens to their global telegram community, while the token owners can use the coin for staking or trading, and earn more.
HARD Money Market (HARD)
In the third spot, we have HARD Protocol, which is a cross-chain money market that exists on the Kava blockchain. This is a new project which launched only a month ago, in mid-October. However, since then, it has distributed more than $1.05 million worth of rewards.
The project offers a variety of decentralized banking services, including lending and borrowing, which lets users use their existing cryptocurrencies to earn more money. The project is backed by a number of industry giants, including Binance, OKEx, BitMax, and others.
The token holders also have a say in the project’s maintenance and evolution, as it gives them the voting right through which they get to impact the project’s development and future.
Level01 is another noteworthy project, which offers a platform with AI-guided derivatives trading. It has its token, LVX, which is an ERC-20 token that can be used within the platform’s ecosystem for generating profits through hosting tournaments and trade groups.
The project attracted a lot of attention due to its partnership with Bloomberg, with plans to incorporate Bloomberg Data into its FairSense AI, thus improving the customer experience by
Lastly, there is Kava — a DeFi lending platform for digital assets that allows users to earn high-yield on their digital assets. Kava offers users to safely store their tokens on the industry’s standard for state-of-the-art security. It also offers the use of a Binance-owned mobile crypto wallet, and it provides institutional-grade support, backed by the most trusted bank in the crypto industry.
The project is backed by many influential businesses, including Binance, Huobi, OKEx, Ripple, Kraken, Cosmos, and others. Its KAVA token is the native governance and staking token of the project’s ecosystem. Furthermore, everyone who owns it has the right to vote, make decisions, and otherwise contribute to the project’s development and future.
With that, we would end our list of top five projects to watch for as 2020 comes to an end. The rise of the DeFi sector has brought a lot of new projects to the attention of the crypto community, as DeFi aims to offer decentralized banking services, particularly targeting the unbanked and underbanked.
DeFi makes itself available to everyone. It allows people to earn money through ways other than trading, which is a perfect way for HODLers to continue to benefit from simply owning crypto. This sector is developing and growing rapidly, and many believe that it is the path that the crypto industry will focus on from here on. With that in mind, projects like these are the ones that should be kept an eye on, as they have great potential to rise to the top and become leaders of this sector of the crypto industry.
Founder and editor at BTC PEERS. Andrey writes about financial experiments, DeFi, cryptocurrency, and blockchain.