Avalanche Defi is really exciting at the moment. And that you’re still early to it is even better. Pat yourself on the back for that one.
If you’re new to Avalanche, or to Defi, then this article will give you a thorough view of what’s on offer.
Unbeknownst to many people, Zero was actually first. I know right? Surprising. Most people assume it was Pangolin. But, I feel their first mover efforts are worth top place on our list.
Despite not being as well known as the later exchanges, that have had a few "nudges" in support of their growth, Zero is something you should probably pay attention to.
They’ve got healthy liquidity, support cross-chain bridging, have an amazing UI. And, they were first.
The big daddy in Avalanche DeFi. This is like what Binance is to CEX world. Pangolin is the main goto place for Avalanche DeFi.
I spend most of my time trading Avalanche tokens here. Though, despite being the largest they don’t have every token in the ecosystem. Something that could be worked on my opinion.
There team is brilliant, the governance process has already proved itself. And, they’re well integrated within the Avalanche ecosystem. Oh, and they just got listed on Gate.
Somewhat different to the other Avalanche Defi projects. As Yield Yak doesn’t offer token trading yet. Rather, they have a few tools that support DeFi users instead.
Their main attraction is their auto-compounding. They pool everyone’s tokens together, and compound the rewards for you in an efficient manner. Which, in theory leads to higher earnings!
There’s a rumoured YAK token coming soon too, which, will take Avalanche DeFi users’ interest. There’s no doubt about that! And, provided you use their services, you’ll be eligible for an airdrop.
It goes without saying. Penguin Finance is a Penguin themed dApp. Incase it wasn’t already obvious! They’re more than just that.
Though Penguin Finance may appear as if it’s a DeX. It’s not. And if you goto the swap section your forwarded to Pangolin. This could change in the future, though. See …
Aside from the Penguin theme, they’ve got a few DeFi applications; single asset staking through their xPEFI nests, LP farming, and some gamified approaches with the Penguin Emperor game and Penguin Arena.
Not much is known about the Elk Finance team. But they’re really something special. At first, you might think "okay, looks like a green Uniswap". But hold off for a second…
We held an interview with Elk Finance recently. And in it, we got a glimpse at what the future holds for Elk Finance. As they build towards mainnet, protect again impermanent loss, and upgrade their UI.
Aside from offering Elk token, they’ll be introducing CHFT stable coins soon, and have already begun distributing their rare Moose NFTs.
Recently updated their UI, and can I say, I really like what they’ve done. Snowball is taking steps to really capitalize on different staking opportunities in the ecosystem.
Olive is to Avalanche, as PancakeSwap is to BSC. They’re popular a meme-coin launchpad. Everything from Monkeys to Mammoths, to Snow Leopards, have seen farm offerings on Olive.
Recently they included auto-compounding too. And, they’re actually running on both BSC and Avalanche simultaneously.
Lydia Finance is a PancakeSwap-like DeX with a Lion/"Ancient" Greek theme. They’ve (believe it or not) actually acquire a CerTik audit. Which is way more than a lot of other DeXs have in terms of safety.
Another themed DEX, perfect for French Avalanche Defi users. Hehehe.
Baguette has different staking options; single staked pools, LP farming, and that lovely smell of cooking bread.
Flying pretty low under the radar for the time being. Cycle Finance are very similiar to Yield Yak. In that they autocompound LP rewards. Tokens are pretty limited in supply at present.
A newer decentralized exchange; Canary is very similar to the previous DeXs, but with higher farming rewards as they’re very new.
Complus are attempting to build a cross-chain bridge for assets on a few chains. Avalanche, BSC, HECO.
Dead Avalanche DeFi Projects?
Unfortunately, some projects haven’t spoken much. Feel free to reach out to us if you’re still doing something!
Birdy Finance unfortunately stopped responding to their userbase for a number of weeks. After we posted an article about them, they came back and announced they would no longer be pushing their project.
Not sure on this one? But not much seems to be going on.