Ethereum’s ERC20 standards tokens have contributed significantly to the widespread adoption of cryptocurrencies and Blockchain technology. In this article, let’s take a look at altcoin projects from this category that need attention next week.
Altcoin projects to watch next week
Ethereum ecosystem tokens, also known as ERC20 tokens, are used in Ethereum-based networks and projects in DeFi, GameFi, Decentralized Applications, and other categories. Uniswap, for example, is a decentralized protocol that facilitates automated trading of DeFi tokens. On Uniswap, users can buy and sell Ethereum (ETH) without relying on a middleman to hold their funds. The platform uses a new trading model known as automatic liquidity protocol.
MakerDAO (MKR)
Following that on the list of top Ethereum tokens, MakerDAO is a P2P protocol that makes it easy to borrow, lend and save. Users can borrow by depositing Ethereum-based tokens such as UNI, YFI or BTC into the protocol, which creates a collateralized loan position for the borrowed amount. The protocol allows you to borrow funds in DAI. This requires an Ethereum and MetaMask wallet.
0x (ZRX)
Ox is an Ethereum-based decentralized exchange. It is an infrastructure protocol that allows users to buy and sell ERC20 tokens and other assets without the need for centralized intermediaries such as traditional cryptocurrency exchanges.
AAVE (AAVE)
Aave is an Ethereum-based open-source lending protocol. Lenders can earn rewards by contributing various Ethereum-based assets to liquidity pools, while borrowers can put approved assets as collateral for borrowing.
Chainlink (LINK)
The next altcoin, Chainlink, is a 2017 decentralized “oracle” network. Chainlink is one of the most popular decentralized oracles on the market, along with Band Protocol and MakerDAO. Oracles, also known as middleware, act as intermediaries to connect real-world data to the Blockchain. As such, Chainlink aims to be a network that will touch real life from the ground up in the future.
1inch Network (1INCH)
1inch aims to provide its users with the best rates by collecting the best cryptocurrency rates from all DEXs. It is also used to strengthen the platform’s decentralized “instant management” model and enable liquidity mining through token staking. 1inch has long managed to stay in the top 100 according to its market value.
Speaking of DEX platforms, it’s worth checking out dYdX’s recent unlock event. cryptocoin.comWe have included the details in this article.
