What Are Some Ethereum Projects?

Ethereum was launched in 2014 deemed to be the prime smart contract platform. It also uses a computational engine called Ethereum Virtual Machine. Thousands of dApps or decentralized applications run on the ETR blockchain.

DeFi (Decentralized Finance) protocols

ETR won’t work without decentralized finance protocols and smart contract technology. The algorithms of smart contracts are programmed for self-execution after meeting the preset conditions. Smart contracts also allow users to decentralize the traditional financial instruments in the past.

From 2014 to the present, ETR has come up with several notable projects.

Uniswap

One of the Ethereum projects is the Uniswap v3 designed for concentrated liquidity. The liquidity allows the providers to set the price ranges or the eligible fees. The major benefit of Uniswap v3 is the speedy transactions, high gas fees, and reduced slippage.

Aave

It is a decentralized lending protocol launched through an ICO or initial coin offering in 2017. The interest rates of this protocol are based on the liquidity pool utilization rate. The good thing about Aave is that once the investor deposits ETH, he can borrow another asset. But borrowers must understand the liquidation risks. If you will borrow using this protocol, you are required to put up collateral more than you had borrowed.

MakerDAO

It is the first-ever decentralized lending protocol of Ethereum. Through MakerDAO, stablecoin Dai was conceptualized. The value of Stablecoins remains stable even when pegged with another currency. Since it is a lending protocol, the users can take out loans without worrying about the price volatility of the cryptocurrency. Unlike other stablecoins, Dai is supported by Ethereum.

Curve Finance

This project of Ethereum is an automated market maker. Using Curve Finance, the investor can earn a consistent and stable yield of assets because it favors stability over uncertainty and volatility. It also offers the lowest transaction fees, impermanent loss, and reduced levels of slippage. It is made possible through organized liquidity pools.

OpenSea

OpenSea is the largest NFT marketplace in the world to trade volume. It is the secondary marketplace for non-fungible tokens on Ethereum. The project launched DAO or Decentralized Autonomous Organization allows the users to receive airdrops of RARE and SOS tokens.

Takeaway

The Ethereum dApps or projects were ranked considering various factors, such as developer activity, transaction volume, and current active users. All the ETR projects mentioned above are using a decentralized approach to managing data, allowing the users to have full control through the blockchain technology and based on the Ethereum network.   

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