7 Biggest DeFi Projects in 2021

When last summer we were talking about the DeFi rapid rise, the industry was at the very foot of its real boom. Look at this chart: in summer 2020, the line seems to be somewhat close to zero, even though $4B had already been locked in the industry by then:Even then some were discussing the ‘DeFi bubble’, but one year since, the market has grown tenfold. What does it say about decentralized finance?DeFi brought a revolution to global finance. Without centralized entities, it gives access to financial services such as borrowing. lending, earning interest, and asset management. People love DeFi since there are no intermediaries like banks who work slowly and can limit access to your funds at will; it’s more private than fiat CeFi (not totally anonymous but without any personal data); there’s no bureaucracy — no credit checks and you can get what you want in a matter of minutes.DeFi protocols are Dapps written in smart contracts and running on blockchain platforms, mainly Ethereum. In this article, we will feature the 7 largest DeFi projects by Total Value Locked as of June 2021. These are lending services, decentralized exchanges, assets, and asset management platforms. Here’s how it looks:See how the market grew — here’s a screenshot taken one year ago:The list of the top platforms didn’t change much, but the leading projects have grown several times over.Total value locked: $10.7BAave allows you to earn interest on deposits and borrow assets.If you want to get a passive income, deposit your DAI, ETH, or another Ethereum-based asset. This is how you provide liquidity to Aave, the funds that others will borrow. Your interest rate will depend on the balance of supply and demand. See what your APY (annual percentage yield) can be here.If you want to borrow a token, you…