- Chainlink makes decentralized smart contracts possible by connecting block chains with off-chain data.
- The AMM model of Uniswap has caused a revolution in the decentralized token trade and liquidity supply.
- Steth offers a flexible deployment solution, so that users can participate in Ethereum’s pos without locking.
Binance Defi Composite Index identifies important protocols of decentralized finances. Chainlink (link)) offers safe off-chain data for smart contracts, uniswap (uni) introduces the AMM model that is tampered with the token trade paradigm, and Steth allows Ethereum holders to use flexibly. The growth and innovation of Defi depend on these projects.
Chainlink (link) Growing role in decentralized oracles
Source: Coinmarketcap
Chainlink is a decentralized Oracle network with which smart contracts can get safe, real -time, from chain data from block chains. It is an innovative service with which block chains can communicate with data feeds, events and payment systems on the outside, and it makes it possible for complex smart contracts to work well. Chainlink offers blockchain networks access to accurate, real -time information thanks to a decentralized network of junction operators to ensure that the information is useful for high -confirming decentralized financial (Defi) applications.
This essential service is supported by Chainlink who cooperates with various data providers, including Brave New Coin and Alpha Vantage. That is why the network has become one of the most important players in the blockchain space with large -scale acceptance in the Defi projects such as Synthetix and Compound.
Uniswap (uni) and the growth of decentralized fairs
Source: Coinmarketcap
Uniswap has emerged as an important protocol in the decentralized financial landscape (Defi), in particular for automated token trade. Uniswap introduces an automated market maker (AMM) model with which users can exchange tokens without the need for a centralized order book. It is better for liquidity and efficiency compared to previous decentralized exchanges. With the launch of Uniswap V3 in May 2021, the protocol became a lot different, with a better capital efficiency for liquidity providers and better implementation for traders.
Uniswap has established governance token, as uni; which makes it possible for users to participate in the decision -making process with regard to the development of the platform. They have helped grow the uniswap -eco system with its markets that propel a lot of liquidity to many Defi platforms and applications.
The rise of the evolution of Steth and Ethereum
Source: Coinmarketcap
Steth is a liquid form of captured Ethereum issued by Lido. Lido offers a decentralized platform with which users can use ETH without 32 ETH minimum required by Ethereum. This solution uses the advantage of the Ethereum’s Proof of Stake (POS) mechanism to make it easy, more scalable and without locking assets/supplies for an indefinite period of time.
In addition, since Steth can be used in Defi applications, including trade, loans and even collateralization, Ethereum holders now have more flexibility while contributing to the network. The growth of Steth, however, shows the growing use of solutions for deploying liquids as Ethereum shifts from Pow to Pos.
