A Complete Guide to Launch Your Own DeFi Project
VanessaJane last edited by
DeFi tokens are the backbone of the decentralized ecosystem. They can be easily traded and transferred by users as tokens have a specific value attached to them and can be utilized for various purposes. It is also called a special kind of digital currency. It can perform a lot of roles in the native blockchain network or financial ecosystem.
What are DeFi Tokens?
DeFi tokens have different use cases like an exchange, payment, trading, investment, and exercising voting rights. They have a financial or economic value. Users will be incentivized to utilize a platform’s native token by being offered trading discounts or lower interest rates. They may also receive free tokens for doing specific actions favorable to the DeFi platform. Some of the popular DeFi protocols offering tokens are Compound, MakerDAO, Kyber Network, and Aave.