Top 5 most popular dApps on the Avalanche network – the VR Soldier
Avalanche is one of the most popular blockchains for the Dapps and DeFi platforms. With a market capitalization of over $ 21.7 billion, it ranks as the 12th largest cryptocurrency on the market. This article takes a look at the five most popular Dapps on the Avalanche network, ranked by number of users over 30 days, from lowest to highest.
5. Lydia Finance (LYD) – 9.2k
Lydia Finance is an Automated Market Maker (AMM), Yield Farming, Staking and Launchpad platform on the Avalanche network. Lydia allows users to trade, wager, pool and earn LYD as a reward.
Avalance is known for its Yielf Farming platforms, and Lydia Farming is one of the most popular options available. It allows users to earn up to 289% APR on various farms. At the time of writing, users could earn up to 129% APR on LYD-USDT, a pretty big return.
Users can log into Lydia Finance through their MetaMask wallet and instantly claim an automatic LYD bonus allowing them to earn with the platform.
At the time of writing, Lydia Finance is trading at $ 0.03148, with a market cap of $ 3 million. You can buy LYD from Pangolin, BitMark, or Lydia Finance. The easiest way to acquire LYD would be to convert AVAX to LYD on the platform itself.
4. Aave (AAVE) – 12.12k
Aave is an open source liquidity platform that allows users to earn interest on deposits and borrowings from their assets. Aave also has a native token called AAVE. This token incentivizes users to use the platform by offering fee discounts, providing voting power for governance, and a host of other benefits.
When it comes to Yield Farming, it’s no surprise to see multiple cash pools working together. Looking at the assets available on Aave, the most lucrative crypto is Fei USD – with an APY deposit of 13.89%.
Aave is one of the best contenders for yield farming. With over $ 25 billion in locked-in assets, this is a great option if you’re looking to earn an interest rate on your existing cryptocurrency without giving up control of your funds.
3. Snowbank (SB) – 19.48 km
Snowbank describes itself as the decentralized reserve cryptocurrency. According to its official website:
“Snowbank is building a decentralized community-owned financial infrastructure to bring more stability and transparency to the world.”
It has a fully functional Dapp allowing users to login with their MetaMask wallets and start using the platform.
At its core, Snowbank is a DAO treasure, giving its SB token an intrinsic value that it cannot drop below. The goal of Snowbank DAO is to create a politically controlled currency, similar to the famous Olympus DAO.
At the time of writing, SB is trading at $ 362.13, with a 24-hour trading volume of $ 3.4 million. You can buy SB on TraderJoe and Hotbit.
2. Pangolin Exchange (PNG) – 59.01k
As the name suggests, Pangolin Exchange is a decentralized exchange on the Avalanche network. According to its official website, Pangolin is:
âA decentralized, community-driven exchange for Avalanche and Ethereum assets with fast settlement, low transaction fees and democratic distribution, powered by Avalanche. Pangolin brings you the best trading opportunities to find and maximize your return.
Think of Pangolin as the PancakeSwap or Avalance network. The user interface of the two exchanges is very similar, with a few additional features like margin trading.
At the time of this writing, Pangolin has over $ 11 billion in volume and over $ 349 million in cash. Additionally, Pangolin offers the PNG governance token allowing holders to shape the future of the exchange.
1. Trader Joe (JOE) – 373.31k
The most popular decentralized exchange on the Avalanche network is Trader Joe XYZ. With over 373,000 monthly users, it is by far the most popular Dapp on Avalanche.
In addition to a full-fledged exchange, Trader Joe offers lending, farming, and staking options for users. Moreover, with DEX and DeFi services, Trader Joe can provide leverage to its users.
Trader Joe provides one of the highest APRs in the market for his JOE token when it comes to staking. With the current staking APR for JOE at 34%.
Trader Joe can provide such a high APR due to his daily redemptions and the XJOE dial mechanism in place on the network.
At the time of writing, the 24-hour trading volume for TraderJoe is $ 318 million, with some of its highest trading pairs being Magic Internet Money, USD Coin, Wrapped AVAX, and WETH.
Disclosure: This is not trading or investment advice. Always do your research before buying a cryptocurrency.
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The data source: Dapp Radar