dApps can range from DEXs (decentralized exchanges) to NFT marketplaces, casinos, and even games based on blockchain technology. dApps and centralized apps are vastly different, namely because dApps do not have a single server.
Ethereum, BNB Chain, and Solana are three well-known and popular platforms developers often rely on to deploy dApps. Many dApp developers and users are able to build recurring income based on their usage.
Keep reading to learn more about the top 10 most popular crypto dApps by volume over a 30-day period in early summer 2022. Aside from looking at volume, our investigation also focused on some of the unique aspects and attributes of each dApp.
Tectonic is a DeFi money market protocol allowing users to borrow or participate as a liquidity supplier. Users can borrow assets to stake, yield farm, or trade by using their assets as collateral. As a result, suppliers can generate passive income.
Powered by CRONOS, a Crypto.com supported blockchain, the native TONIC governance token underpins the entire ecosystem. The protocol is a fork of the well-known Compound protocol and Tectonic supports eight assets for lenders and borrowers.
Venus has gained notoriety as BNB Chain’s first algorithmic money maker. Developed by Swipe Wallet in 2021, the protocol is based on Compound and MakerDAO even though it’s exclusively built on BNB Chain.
Venus is home to the native XVS governance token and the protocol allows lenders and borrowers to operate without any sort of credit check. Users can mint the VAI stablecoin that’s accepted by millions of places via Swipe and earn an APY by supplying liquidity.
Founded in 2021, Raydium is a Solana-based automated market maker allowing users to earn yield, trade, and swap with near-instant speeds. Raydium harnesses the Serum DEX to offer liquidity not seen on other platforms.
Raydium is also home to the native RAY token. Holders can collect a portion of protocol earnings and eventually be able to participate in the governance process.
Raydium development commenced in 2020 after the developer ‘AlphaRay’ and team tired of high Ethereum gas costs.
Based on BNB Chain, Biswap is a DEX allowing users to swap tokens. Users can take advantage of the platforms’ low trading fees, unique referral system, trading platform and competitions, NFT marketplace, and NFT game.
The protocol relies on an AMM model for users to swap BEP-20 tokens. The platform was originally designed so users could swap the hundreds of tokens on BNB Smart Chain in a quick and efficient manner. Biswap also reimburses transaction fees (up to 70%) in the native BSW token to encourage swaps.
A fork of Tranquil Finance (which is a fork of Compound), Mimas Finance is an algorithmic money market and Cronos-based liquid staking platform. Users can borrow or supply assets and transact with others in a direct and permissionless manner. Borrowing and lending are based on market demand.
The platform’s liquid staking feature lets users stake $CRO and collect $stCRO. Stakers earn a yield for their efforts and can further leverage the $stCRO to earn even more.
Launched in September 2020, PancakeSwap is built on the BNB Chain as a fork of the Uniswap DEX.
Many new cryptocurrencies launch on PancakeSwap as the platform allows anyone to list tokens, create a market, and provide liquidity. Users can earn the native CAKE token for providing liquidity, which can also be bought on exchanges. CAKE holders can also stake within Syrup Pools or yield farm to earn more tokens.
ApeSwap has quickly become one of the most well-known dApps due to its versatility. ApeSwap is an automated market maker, yield farming protocol, and staking platform that also offers a range of other services. ApeSwap is natively built on BNB Chain but also supports Polygon.
ApeSwap offers smart contracts helping users optimize their yields. Users can also participate in Initial Ape Offerings by trading Liquidity Provider tokens (BNB or GNANA) for the launched token. Users can also collect Non-Fungible Apes with different appearances and characteristics.
Curve is a decentralized exchange and automated market maker that is designed for stablecoin trading, in a manner similar to Uniswap. However, Curve is much cheaper to use as it only focuses on stablecoins.
Curve is also a DAO based on its release of the CRV governance token. Curve has a collection of asset pools that can pay out large interest on funds that are deposited. Curve then leverages deposited money to offer liquidity to other DeFi protocols.
Uniswap V3 emerged in 2021 as an enhancement of Uniswap V2. The V3 version ushered in concentrated liquidity to give providers control over the price ranges of allocated capital.
V3 also introduced a tiered fee system so liquidity providers can collect a proper amount of fees based on the risk they are willing to take on.
Uniswap is an Ethereum-based protocol allowing users to swap ERC-20 tokens. The platform is unique as it’s designed to help users trade and swap tokens without middlemen. Uniswap relies on an equation and token pools to help determine prices and carry out trades.
Uniswap V2 remains one of the most popular decentralized crypto exchanges due to its ease of use and the introduction of the automated liquidity protocol trading model.
Uniswap was originally built on Ethereum in 2018 and is open-source, allowing users to copy the code to build their own DEXs.
Uniswap is also popular as token creators can list on the platform for free and users can maintain total control over their funds at all times. Uniswap runs on two primary smart contracts – an ‘Exchange’ and ‘Factory’ contract that operate when specific conditions are met.
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