Ethereum is the second largest cryptocurrency after Bitcoin. It is not just a digital currency. Ethereum expands the use case of Bitcoin by establishing a global network, which protects the ecosystem of decentralized applications (DApps) from the impact of decentralized finance (DeFi), NFT, etc. The Ethereum ecosystem token has multiple practicability in different types of DApps. Here are 10 important projects and tokens in Ethereum.

1、 Uniswap

UNI is the local governance token of Uniswap, and Uniswap is a decentralized encryption exchange based on Ethereum. Users can trade Ethereum tokens on Uniswap without relying on intermediaries to hold their funds. The platform uses a new trading model called automated liquidity agreements.

Anyone can provide tokens to the liquidity pool, trade tokens, and even create and list their own tokens using the ERC-20 protocol. By providing tokens to the liquidity pool, users can obtain rewards while realizing point-to-point transactions.

2、 MakerDAO

MakerDAO is a peer-to-peer organization based on Ethereum that allows people to lend and borrow passwords. Users can borrow money by depositing Ethereum based tokens (such as UNI, YFI or BTC) into the agreement to create collateral debt positions for the amount they want to borrow. MakerDAO handles loans in the DAI stable currency. When it needs to be repaid, the loan amount must be DAI, and any interest needs to be repaid in the governance and utility token MKR.

Unlike the stable currency linked to the United States, the DAO maintains its value through excessive monetization of the Macedo Agreement. For example, the value of Ethereum assets locked as collateral is always more important than the DAI token value obtained by the borrower. This maintains the ability to align the DAI with the $1 token value. Even in the case of a sharp decline in the market, the reserves have enough value to maintain a stable monetary value.

3、 Aave

Aave is an open source lending agreement on the Ethereum blockchain. The lender can put various Ethereum assets into the liquidity pool to obtain returns, while the borrower can borrow the approved assets as collateral.

In addition, the interest rate of the Aave platform is based on the utilization rate of the relevant liquidity pool. Moreover, the lender has the opportunity to obtain relatively low-risk passive income from the loan interest without contacting with a third party. AAVE is the local governance token of the AAVE ecosystem, and token holders can vote to decide the direction of the agreement.

4、 1 foot (1 INCH)

One foot is a decentralized exchange (DEX) one inch local token. The Ethereum based DEX protocol aims to provide users with the best interest rate by aggregating the best cryptocurrency interest rate of all DEX. Like other DEX, 1inch allows users to trade tokens without a third party.

5、 Curve Finance

Curve Finance is a DEX and Automated Market Maker (AMM) platform that provides an effective way to exchange tokens while keeping costs low and sliding. Different from other DEX, curve finance is specially designed for exchange of stable currency.

Users can use their local CRV tokens as governance tokens to participate in the network decision-making process.

6、 Sandbox

SAND is the local token and exchange medium in the sandbox ecosystem. Users can use SAND to purchase land and build in game assets, or list them in the sandbox market to monetize their game experience. SAND holders can also participate in governance decisions and hold SAND tokens to obtain in-game rewards.

7、 Decentralization

Decentraland is a virtual reality real estate platform that allows players to create virtual structures and experiences and monetize them. The creator can use the local token MANA of the platform to purchase digital assets such as LAND NFT and avatar on the Decentraland market.

8、 Chromia

Chromia is a blockchain platform that provides developers with tools to create secure DApps by combining relational databases with blockchain technologies. CHR is the standard currency in the Chromia ecosystem. Users can use CHR to pay fees in DApps.

9、 Chainlink

Link is a decentralized network, which safely converts real data into smart contracts on the blockchain, and converts them into smart contracts through oracle software. Users can use LINK, the local token of the link, to pay for the service on the network.

10、 Axis Infinity

Axie Infinity is a "play to earn" NFT game running on the Ethereum blockchain. Players can collect NFT of cute creatures named Axis and let them fight each other in the battle. In addition, players can use the game's local Ethereum token, AXS and SLP to request rewards for playing and betting tokens. AXS holders can also participate in key governance votes in the Axie Universe.

summary

The above content is a brief introduction to the ten important projects and tokens in the Ethereum system. Ethereum network plays a crucial role in the rise of innovative technologies in the blockchain field, especially in the ecosystem dominated by DApp. As more and more projects and users enter the industry, the Ethereum ecosystem will continue to grow.