The best DeFi startups in 2022

At the beginning of 2021, we saw how DeFi coins like Uniswap significantly increased in price before the Bitcoin market declined. Moreover, the DeFi-sphere this year reached a historical maximum with the TVL worth $90 billion, making a significant contribution to the cryptocurrency market’s capitalization.

Let’s take a look at the most promising DeFi startups to watch this year.

Starly

Starly is a decentralized exchange platform of a new type. It focuses on supporting the internal community and has a rock-bottom transaction fee (0.1%). Starly was founded as a decentralized autonomous organization (DAO) for exchanging, farming, and staking Binance Smart Chain tokens.

BSC allows the Starly community to use the platform with maximum efficiency due to superior speed and minimal cost of network transactions. Starly develops on the principles of an open DEX platform, supporting a free, equal, and fair financial system.

STLY is a utility token. It operates as a tool for interacting with the Starly platform and serves as the basis for the ecosystem service. In addition to the direct profit from the token placement, you can profit from trading the STLY token and gain access to a wide range of additional benefits available for token holders.

Starly was created to cover the needs for DeFi tools as effectively as possible, creating maximum advantages for community members. Members of the Starly community and their needs are the main priorities of the platform. It has great potential, and it has a great chance to soar.

Chainlink

Chainlink is a blockchain oracle that offers an amazing and unique application of the blockchain network. It was created by Sergey Nazarov and Steve Ellis, the owners of SmartContract.com.

Chainlink aims to connect smart contracts on various blockchains with off-chain data in the real world. Many companies like Swift, Google, Theta, Aave, Synthetix, and Huobi have partnerships with Chainlink.

LINK is a native Chainlink token used to reward node operators. This coin is extremely popular. It has a long history of exponential price growth.

PancakeSwap

PancakeSwap is undoubtedly a giant in the space of decentralized exchanges. It is a decentralized exchange – an automated market maker based on Binance Smart Chain (BSC).

It is also the first decentralized application on BSC to reach a billion-dollar transaction volume and TVL. PancakeSwap was created to make it easy for traders to exchange BEP-20 tokens.

It also has several liquidity pools where liquidity providers can get CAKE and LP tokens as rewards. Unlike Uniswap, PancakeSwap offers speedy transactions and low exchange fees.

The native CAKE token is one of the most prominent coins that skyrocketed in 2021.

Compound Finance

Compound Finance, founded by Robert Leshner, is one of the most famous credit DeFi platforms. This decentralized protocol based on Ethereum connects lenders with borrowers, allowing them to earn interest. Currently, 14 Ethereum-based tokens are available for lending on Compound.

COMP is a native token launched in 2020. COMP is used to motivate both lenders and borrowers to maintain a high activity level within the protocol. By holding COMP, you have the right to participate in protocol management.

Injective

The Injective protocol is a second-level decentralized exchange built on the Cosmos SDK using Ethermint. This allows it to interact with Ethereum-based tokens, as well as with the Cosmos token.

Unlike PancakeSwap, the Injective protocol allows users to trade cryptocurrencies and synthetic assets. They are accessible both for spot and derivative markets. It also allows users to create their trading pairs.

A unique aspect of this protocol is that it is fast and cheap.

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