Of the many DeFi platforms currently on the market, here are top 3 picks for 2023. We think these projects have good growth potential, and you can get on board. However, it’s important to stay on the lookout, as frauds and scams are never far away in crypto.
Lido Finance
Lido Finance ($LDO) is a DeFi project that allows its users to passively manage returns on their capital. Lido is currently the largest DeFi protocol in terms of total value locked (TVL), with over $8 billion in assets on the platform.
The Lido protocol allows users to leverage their staked coins without having to sell them, by wrapping the asset and providing a derivative product backed by the underlying asset. This means users can access funds when they need them, and earn a return while they wait. Several DeFi projects like RING Financial also offered the same service.
Synthetix
Synthetix is a decentralized platform that allows users to trade synthetic assets, which are digital assets that track the price of real-world assets. Synthetix currently offers synthetics for various assets, including cryptocurrencies, commodities, and fiat currencies. Additionally, Synthetix has a native cryptocurrency called SNX that is used for paying transaction fees on the platform and minting new synthetic assets.
Stargate Finance
Stargate Finance is a DeFi protocol that serves as a bridge for users, allowing them to transfer assets between multiple networks, including Ethereum, BNB Chain, Fantom, Arbitrum, Optimism, and many more.
The STG token itself is very useful within the protocol as it gives holders voting rights, revenue rights, and more. Overall, STG is potentially a great long-term investment opportunity. It is still a DeFi project with a small market cap, but it has the potential to continue to grow in the coming years.
Source -
https://chainbulletin.com/top-defi-protocols-to-watch-in-2023-and-more