Which cryptocurrencies are commonly used in DeFi protocols?

3 answers

• Jamal ZabetanOct 10, 2021 · 4 years ago
  Ethereum (ETH) is the most commonly used cryptocurrency in DeFi protocols. Its smart contract capabilities and large developer community make it a preferred choice. Other popular cryptocurrencies in DeFi include Binance Coin (BNB), Chainlink (LINK), and Uniswap (UNI). These cryptocurrencies offer unique features and functionalities that enhance the DeFi ecosystem.
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• Honey BunnyJan 19, 2024 · 2 years ago
  When it comes to DeFi protocols, Ethereum is the go-to cryptocurrency. Its dominance in the DeFi space can be attributed to its robust infrastructure, high liquidity, and wide range of decentralized applications (dApps). Ethereum's native token, Ether (ETH), serves as the fuel for transactions and smart contract executions within the DeFi ecosystem.
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• Marianito TaparMar 04, 2024 · a year ago
  In the DeFi world, various cryptocurrencies are commonly used. Ethereum, being the pioneer of smart contracts, is widely adopted due to its versatility and established network. However, other cryptocurrencies like Binance Coin, Chainlink, and Uniswap have gained popularity for their unique offerings. These cryptocurrencies provide liquidity, decentralized oracle services, and decentralized exchange functionalities, respectively. Their integration with DeFi protocols enhances the overall user experience and opens up new possibilities for decentralized finance.
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