There’s never a dull moment in the Defi sector. Continuous innovation in the space affords us products and solutions that ease our transactions. Additionally, the thriving Defi sector provides alternative investment avenues. Further, the investments attract better returns compared to those from conventional finance. It isn’t a wonder that investors in their droves keep boarding the Defi juggernaut.
In a sense, the ballooning of Defi is both a blessing and curse, A blessing in that it expands our choices and gives us greater say over our funds. On the other hand, many competing products could cause us headaches in product choices. The fact that genuine and fake projects dot Defi’s landscape further exacerbates this dilemma.
Luckily though, we’ve portals whose mission is to take the difficulty out of Defi investments. These scour the Defi sector, analyzing projects and trends for our consumption. In them, we have crucial allies for navigating the Defi maze. This article examines five portals that rate and rank Defi to our gain. We shall proceed to explore the features that make them a must-have tool in our investment journey.
1. DeFi Pulse
DeFi Pulse site enables you to find analysis and rankings of Defi protocols. Its salient features include:
Total Value Locked
This metric shows the amount of funds locked up in various DeFi contracts. A high TVL is indicative of a thriving economy. Defi Pulse uses a graph to capture the daily TVL progression.
Market dominance
This standard ranks projects according to their liquidity levels. Projects with higher liquidity are a stable and attractive investment option.
The Market Leader Share Metric
The Market leader share metric gives you a glimpse of the Defi categories available on Defi Pulse’s site. Major types include Lending, DEX’s, Derivatives, Payments, and Assets.
DeFi Pulse Farmer
The DeFi Pulse Farmer is the site’s newsletter. It covers the latest news and opportunities in the Defi space.
DeFi Lending
The Defi lending feature shows the interest that these protocols generate per year. Through this ranking, you can determine the most profitable investments. The platform also has a calculator that shows you how much interest you’d draw per month by locking a given amount of an asset.
DeFi Pulse Token List
The Token list is a directory of the legitimate tokens trading on Ethereum. It serves to reassure users that they are dealing with a genuine project.
2. CoinMarketCap DeFi page
CoinMarketCap (CMC) has distinguished itself to be a trustworthy platform. Its Defi page lists tokens simply and conveniently, allowing for faster searches. Its other standout features are:
Cryptoasset Ranking
Here you find all the assets that CMC lists. You get to see the asset’s market cap, price changes within a day or week, its volume, and circulating supply.
Coin Details Pages
These provide in-depth information regarding a coin. The “market pairs” tab features prominently on these pages. Market pairs have unique confidence indicators that aid you in picking an exchange to trade. This confidence score mirrors the exchange’s liquidity.
Exchanges
Here you get to compare how the different exchanges fare. The exchanges fall into different categories, including spot exchanges, derivatives exchanges, and decentralized exchanges.
CMC’s Watchlist
The watchlist feature allows you to mark your favorite cryptos. In this way, you can easily track their performance.
Headlines
Keep abreast of the happenings in the crypto and blockchain space with this tool. The embedded Signals feature sends you news directly from a project or a given crypto protocol.
3. Etherscan
Etherscan is an Ethereum based platform providing analyses of the Defi sector. It debuted in 2015 and one of the longest-running independent projects built on the network. Its mission is to provide fair access to blockchain data. Some of its key features are:
DeFi Leaderboard
Through Etherscan’s leaderboard feature, you get to find up to date analytics and rankings of DeFi protocols. The rankings take into account the total value locked into the smart contracts. From the leaderboard, one can skim the following information:
- The project’s rank
- The project’s name
- Its category
- TVL in USD
- Price changes in a day
- Price changes over a week
- The project’s market capitalization
- The market cap to TVL ratio
Token Tracker
Etherscan tracks and ranks two kinds of tokens. First is the ERC 20 token, and secondly, the ERC 721 token, also known as the Non-Fungible Token.
ERC 20 token Tracker
In ranking the ERC 20 token, Etherscan identifies the project by name, states its trading price, and changes in 24 hours. Additionally, it indicates the token volume within a day, the token’s market cap, and its total number of holders.
Non-fungible Tokens Tracker
This tracker ranks the top ERC 721 tokens. It identifies the project and its volume first within a day and finally in a week.
Yield Farms Tracker
Yield farming is an essential component of Defi. Accordingly, Etherscan has provided a rank for the top yield farming ventures. You’ll find the project’s name, its start date, addresses, trading prices, and market cap in this ranking.
4. Loanscan
Loanscan is your go-to platform in matters of Defi lending. It gives you access to financial information and analysis for credit issued on the Ethereum blockchain. The platform supports loans from Compound, dYdX, Dharma, and Maker DAO protocols. However, it plans to introduce additional protocols and blockchains in the future. Minimalist in nature, it has two significant features:
Earn Yield
Here you get to know the amount of interest you’ll earn investing in a given platform. Besides showing the earning in terms of USD, Loanscan also compares the yield across cryptos.
Borrow
This feature enables you to determine the cheapest platforms to seek credit. Again it lists the platforms and their lending rates for different cryptos.
5. DeFiprime
DefiPrime is a feature-rich portal offering comprehensive information on different Defi projects. On this site, you’ll find news and blog articles relating to Defi. Additionally, you can conveniently search for projects under several categories. Some of the main categories include Alternative savings, Daos, Payments, and Staking. The site eases the process of finding projects as it arranges them in niches. Thus, it saves you time.
Final Thoughts
The growth of Defi has placed us in a quandary. On the one hand, we celebrate the convenience of transactions, expansion of financial options, and notably, the financial freedom Defi affords us. That said, their proliferation introduces challenges in determining which products to choose. As the sector has its fair share of legit and fraudulent projects, this difficulty gains in significance. All is not lost, though. Some portals undertake analysis of the Defi market to keep us in the know. Using these portals takes the guesswork out of investing, guaranteeing us fruitful experiences in the space.
