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DeFi Platforms Developed
By the name DeFi token, it denotes the value behind an asset or privilege on decentralized platforms. Oftentimes, DeFi tokens and DeFi coins are assumed to be identical. However, they aren’t. There are many key differences between the both. Firstly, DeFi tokens can be put into use for different purposes and don’t hold a particular value, which means the value of the token is represented by the type of asset. These tokens can be utilized in different ways like staking, crowdfunding, or buying digital assets. On the contrary, DeFi coins are fungible and their value corresponds to the market fluctuations. We are a DeFi token development company and have mastered the skill of developing different tokens that carry different values. You can approach us to create your own DeFi Token.
Governance TokensDecentralized platforms provide this privilege of letting the platform users participate in decision-making through voting. In order to cast votes on the platform, users must hold governance tokens.
Security TokensSecurity tokens are one type of DeFi token for representing the ownership of physical assets in the form of digital security that is stored on the blockchain.
Equity Tokens Equity tokens are developed exclusively for denoting a percentage of the share in assets. The share can be a stake in the company or physical assets.
Utility TokensA type of digital token that provides value in the real world besides the value they carry as a DeFi token.
Ethereum Tokens Ethereum blockchain is the foundation for multiple blockchain technologies that have been evolving these days. Ethereum’s native currency is ETH and this currency has various standards, each possessing different properties. There are multiple token standards available in Ethereum and the popular ones are ERC-20 and ERC-721. ERC-20 is a fungible type of token that can be employed for trading and is transferred with the network itself.
ERC-721 is a non-fungible type of token, unlike ERC-20. Non-Fungible tokens that are built on the Ethereum blockchain make use of the ERC-721 token standard.
TRON Tokens TRON is another open-source blockchain for creating DApps and TRC is its token standard. Interestingly, the number of TRC-10 tokens existing in the market is high when compared to the other standard TRC-20. TRC-10 is used for trading in exchanges and almost every crypto wallet supports this token standard. TRON-20 tokens can interact with Dapps and tokens on the TRON network seamlessly.
Binance Smart Chain (BSC) TokensBinance Smart Chain (BSC) is an effective blockchain technology that has an array of merits like low transaction cost, rapid transactions, etc., BEP-20 and BEP-721 are the token standards of BSC and are advanced versions of ERC and employed to represent the ownership of digital assets.
Crowdfunding projects accept DeFi tokens and the type of token will be based on the blockchain with which the launchpad is built.
Token holders can stake their DeFi tokens (irrespective of the token standard) on exchanges and other DeFi platforms. And they will earn rewards based on the number of tokens and the time frame they stake their tokens.
All the transactions of DeFi tokens will be stored on the ledger of the blockchain and token holders can check their transaction records. Hence, legitimacy and transparency are achieved.
Smart contracts are not only employed for automating transactions but also for securing the ownership of the tokens.
Token holders can access a variety of decentralized financial services like lending, borrowing, taking loans, insurance, etc.
Aave CloneAave is a popular crypto lending and borrowing protocol. Their native token AAVE lets users participate in governance activities. Our blockchain development team has developed a robust Aave clone that is easy to access and has benefits like margin trading, flash loans, non-taxable liquidity, etc.
Get It NowCompound CloneCompound is another DeFi protocol for lending cryptocurrencies. COMP is the native token of this platform and those digital assets that earn the most interest rate will earn more COMP tokens on a daily basis. We have a pre-built Compound clone that we’ll customize according to your specifications. Also, we develop native tokens similar to COMP for your Compound like DeFi lending platform.
Get It NowYearn CloneYearn Finance or simply Yearn, is a set of DeFi protocols that runs on the Ethereum blockchain. This platform provides functionalities like staking, yield farming, lending, etc. YFI is the governance token and these tokens are distributed to those who provide liquidity. Our Yearn Finance clone is a scalable and customizable DeFi platform that hosts different effective features.
Get It NowUniswap CloneUniswap is a highly reputed DeFi exchange platform that facilitates the seamless exchange of tokens and cryptocurrencies. Our DeFi experts and blockchain developers have together ideated and built the Uniswap clone that carries exclusive features and is customizable.
Get It NowPancakeswap ClonePancakeswap is another recognized DeFi exchange platform that allows staking, exchanging, yield farming, and lending. Our Pancakeswap clone is configured with features like Automated Market Maker, analytics, transaction history, etc., and supports different wallets like MetaMask, MathWallet, Trust Wallet, etc.
Get It NowcTokens cTokens are employed in Compound protocol and these tokens are used to record the transfer of funds. For example, if a user lends cryptocurrencies, then these cTokens are used to monitor the total amount of funds they’ve lent on the platform.
dTokens dTokens, also known as Dharma tokens, provide the same set of benefits similar to cTokens.
oTokens oTokens are employed in the Convexity protocol. Whenever a user purchases tokens or cryptos on the platform, they’ll receive oTokens in return.
tTokens tBTC is an example of tTokens and are Ethereum-based token that intends to denote Bitcoin. tBTC isn’t a Bitcoin itself but is an Ethereum token that is equivalent to Bitcoin’s value.
Wrapped Tokens Wrapped tokens can be used on any other blockchain besides the one using which they’re built. wBTC is an Ethereum-based token and belongs to the ERC-20 token standard. wBTC and Bitcoin have equivalent values of 1:1. Bitcoin (BTC) can be converted into wBTC and vice versa.
Well, now you know that different types of DeFi tokens exist. Thus, you need to specify the type of DeFi token you are looking to develop and the number of tokens, which falls as the fundamental step.
We develop smart contracts that will specify your DeFi tokens’ operations. Smart contracts are basically a set of codes compiled together that will run on the blockchain used to build the platform.
Every DeFi token will have a unique address, which will be etched on the blockchain and is required to transact tokens. Token ID is the name given to the token. For example, AAVE, CAKE, etc., are the names of the tokens. And you must specify a logo for your tokens as well.
If you are looking for an established and expertise DeFi token development company, we’re your development partner. Appdupe bags around a decade of experience in researching and developing blockchain technology. We offer diverse development services centered around blockchain, NFTs, DeFi, and cryptocurrencies. Let us know your DeFi token development proposal soon!
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