DeFi is a cryptocurrency field that is becoming increasingly popular, with new projects constantly emerging. Here, we will look at 5 new DeFi projects to watch in 2023.
Sovryn is a DeFi project aimed at creating a decentralized trading platform based on Bitcoin. It allows users to earn high returns by providing liquidity as liquidity on the platform. The project also offers a decentralized exchange and financial instruments such as options and futures.
Rarible is an Ethereum-based NFT platform that allows users to create, sell, and buy unique digital assets. They also plan to expand into DeFi, offering NFT staking and other financial instruments for holders.
OlympusDAO is a DeFi project that creates a stablecoin OHM based on Ethereum. OHM is a unique coin that is a hybrid between a stablecoin and a value management protocol. It works by rewarding OHM holders for their deposits, which leads to a stable increase in the coin’s price.
DODO is a DeFi project that offers a decentralized exchange using a proportional price distribution algorithm. This allows users to trade smaller volumes without greatly impacting the price. The project also offers liquidity based on user-set rules.
Popsicle Finance is a DeFi project that allows users to easily and safely exchange various tokens based on Ethereum. It offers automatic liquidity management and integration with other DeFi platforms. Popsicle Finance also provides its ICE token, which can be used for staking and earning additional rewards.
In conclusion, these 5 DeFi projects represent new opportunities for users to participate in the growing DeFi ecosystem.