The Best DeFi Tools on Major Blockchains

Disclaimer: The Industry Talk section features information from crypto industry players and is not part of the editorial content of

Decentralized finance remains one of the fastest growing verticals in cryptocurrency and blockchain. Reaching the next level of adoption requires more robust solutions and better infrastructure. The following projects explore opportunities through various approaches, enhancing the overall appeal of DeFi.

Splinterlands (hive)

Most people know Exploded Earths as one of the leading game titles to earn in blockchain. The project has certainly proven to be very successful on this front, although the Splinterlands ecosystem is much more than that. For example, its recent Validator Node pre-sale attracted so much attention that it sold out in 11 minutes. Validator node operators are rewarded with SPS governance tokens. Additionally, the license sale resulted in the destruction of nearly 14.5 million SPS and the addition of 3.6 million SPS to the Splinterlands DAO.

The introduction of these nodes allows Splinterlands users to tap into a secondary source of income. They can still earn tokens by playing the game, but they can also earn money by supporting the Hive blockchain. It’s always good to give users more options and find the approach they prefer. Additionally, these licenses are NFTs that users can freely buy, trade, and sell on secondary markets.

Orc (Solana)

You cannot have decentralized finance without access to decentralized exchanges. A DEX offers liquidity pools where users can contribute funds and earn fees on overall trading activity. orca, the most popular DEX built on the Solana network, makes it easy to trade cryptocurrency with minimal fees and very low latency. Additionally, the team focuses on usability, catering to the needs of both novice and experienced enthusiasts.

An added advantage of DeFi-focused Orca is how it provides hot tubs. A Whirlpool allows for greater capital efficiency by concentrating liquidity in a specific price range, similar to what Uniswap V3 does for Ethereum. As a result, users can earn higher APRs and enjoy additional rewards in the native ORACE token and other assets. Additionally, the platform rewards collectibles for participating in the ecosystem, which is a nice bonus.

GoodDollar (Ethereum/Fuse)

There are many finance-related opportunities in the decentralized finance space these days. However, BonDollar, as a non-profit protocol, wants to focus on the educational part associated with cryptocurrency and blockchain. Anyone with a mobile phone can experience, learn and use digital currency through this initiative, establishing a more inclusive economy. It basically puts digital money into people’s hands to provide a universal basic income.

Making that income sustainable is another matter. Thanks to GoodDollar and the issuance of reserve-backed cryptocurrencies (B$), the global supply is under control. Moreover, the G$ price depends on the reserve rate policy. Users can also invest a portion of their portfolio in GoodDollar trust funds, aggregating returns generated by third-party DeFi protocols.

Subquery (string independent)

The decentralized aggregation, indexing and querying of data between different blockchains and decentralized applications is a crucial aspect of DeFi. Subquery aims to introduce this solution for projects on Substrate (Polkadot and Kusama), Avalanche, Cosmos and Terra Luna. The team is considering expansion into additional networks, solidifying its position as an on-chain independent DeFi tool.

Making DeFi more efficient requires improving query speeds for on-chain data. Waiting hours or days to perform a simple query isn’t the most appealing option, but SubQuery can save developers time and money. Additionally, builders don’t have to index the blockchain themselves, which improves the overall experience for developers and users.

Growing appeal of the industry requires regulation

You might think that decentralized financial applications would be immune to regulation, but that is not the case. They shouldn’t be exempt either, as there have been far too many security incidents, rug pulls, thefts, hacks, and other issues in this industry since its inception. Regulation can introduce much-needed stability and clarity while protecting users to some degree.

Not all protocols will be regulated [the same way], but it is still advantageous to explore a compliant approach. DeFi builders now have it easier than ever on this front, thanks to Phree. The DeFi project wants to streamline industry growth through regulation, security, and accountability. By working with Phree, DeFi builders can focus on compliant solutions, and TradFi organizations can begin their DeFi journey relentlessly. Such an approach can elevate decentralized finance to a $200 trillion liquidity pool.

More importantly, Phree’s approach does not compromise decentralization. The team wants to build solutions that are as decentralized as possible but compliant where necessary. This includes KYC/AML measures, transaction screening, capital buffers, cash management, injection of a Swiss Franc regulated stablecoin for B2B and data protection. In addition, the project has the support of the Web3 Foundation, PwC Switzerland, Mastercard APAC and other entities to realize this vision as early as 2023.

About Octavia A. Dorr

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