Top DeFi Picks 2024: Explore Staking, Lending, and Liquidity on Ethereum

Compound (COMP): Interest and Governance on Ethereum-Based Lending

Compound is a decentralized lending platform on Ethereum. Current price: $45.20. Market cap: $397.14M.

• Users can lend and borrow cryptocurrencies on Compound while earning interest.
• COMP, Compound’s governance token, incentivizes participation and allows users to vote on protocol decisions.
• Compound is a widely used Ethereum lending and borrowing protocol with dynamic interest rates.

Jupiter (JUP): Optimizing Liquidity on Solana

Jupiter is a Solana-based liquidity aggregator. Current price: $0.9. Market cap: $1.21B.

• Jupiter provides users with optimal token swap rates by connecting DEXs and AMMs.
• The route discovery system on Jupiter splits trades across platforms for enhanced price efficiency.
• Jupiter offers limit orders and a user-friendly interface for trading on the Solana network.

Raydium (RAY): AMM Trading and Staking on Solana

Raydium is a prominent AMM on Solana. Current price: $2.13. Market cap: $562.04M.

• Raydium’s liquidity pools enable fast and cost-effective trading on Solana.
• The RAY token provides governance rights and staking/farming opportunities for users.
• Raydium offers low transaction fees and user-friendly applications for an efficient trading experience.

Frax (FRAX): Cross-Chain Finance on Multiple Blockchains

Frax Finance operates across multiple blockchains. Current price: $0.9981. Market cap: $648.21M.

• Frax offers liquid stacking, stablecoin issuance, and lending services across various blockchains.
• FRAX stablecoin is pegged to the US dollar through a fractional-algorithmic model.
• Frax Ether (frxETH) allows users to maximize Ethereum staking rewards with minimal risk.