Ethereum DeFi Platforms in 2020 - Jenco Tech

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Ethereum DeFi Platforms in 2020
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• One of the newest innovations from blockchain
  technology is decentralized finance (DeFi). It is
  an emerging financial system that aims to solve
  the current problems in the traditional
  centralized financial systems. DeFi applications
  are mostly built on the Ethereum network and
  provide most of the population with financial
  services that were once limited. Anyone around
  the world can now have access to financial
  products by only using a smartphone and an
  internet connection.

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Top five DeFi platforms in 2020

• Looking for DeFi platforms to try this 2020?
  Here are the top five Ethereum-powered DeFi
  protocols that you can use today
• Maker
• Synthetix
• JENCO
• Compound
• InstaDApp

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Maker

• Maker is one of the most popular and
  significant decentralized finance applications in
  the market today. It has dominated the DeFi
  market of around 60 percent, with US600 million
  worth of digital assets locked in the Maker
  protocol smart contracts. The MakerDAO, a
  decentralized lending protocol, uses
  Collateralized Debt Position (CDP) to create the
  stablecoin Dai, which has its value supported
  against the US dollar. This stablecoin is
  generated when users deposit ether as collateral
  in CDPs. To date, Dai is the only decentralized,
  stable digital currency that anyone can use
  without any restrictions or limitations. It does
  not hold dollars in the bank, unlike
  dollar-pegged stablecoins. What it does is it
  uses smart contracts and collateral in the form
  of ETH to maintain the price peg. It can be used
  to lend, make payments, trade, or invest in other
  Ethereum-based assets.

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Synthetix

• Synthetix is an Ethereum-powered decentralized
  investment platform that allows users to create
  and trade Synths, providing on-chain exposure
  to tokenized, synthetic versions of real-world
  assets. Synthetix is originally called Havven,
  which enables Ethereum users to invest in
  synthetic assets that represent different
  investment vehicles such as gold, bitcoin,
  dollars, among other assets. Trades made on this
  platform are on a peer-to-peer basis and on a
  non-custodial basis. This DeFi platform has over
  US140.6 million held in its liquidity pools.

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JENCO

• JENCO is might be a newcomer in the industry
  but it is still one of the top DeFi applications
  available in the market today. The company is
  creating a decentralized financial platform for
  retail investors and helping them realize that
  DeFi is one of the emerging markets they should
  be participating in. JENCO offers three services
  JENCO Protocol, JENCO Loan and JENCO Bots. JENCO
  Protocol is one of the first automated
  decentralized derivative protocols that will
  incentive top traders around the world to share
  its trading strategies. JENCO Loan is an advanced
  API that connects to all major lending platforms
  and JENCO Bots is a fully automated lending
  system that cushions investors against crypto
  volatility.

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Compound

• Compound is a decentralized, algorithmic money
  markets protocol that allows digital asset
  holders to borrow and lend crypto using
  collateral. By adding digital assets into the
  Compound, liquidity pool crypto holders can earn
  interest, which adjusts automatically in relation
  to supply and demand.

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InstaDApp

• InstaDApp is a trustless smart wallet for
  decentralized finance. It is a DeFi application
  that allows users to seamlessly manage,
  optimize, and deploy your assets to get the best
  returns across protocols. This DeFi platform has
  a user-friendly dashboard that enables users to
  manage their investments in different protocols
  such as Uniswap, COmpound, and Maker.