In terms of why AVAX gained so much popularity this past year, its TPS or transactions per second sits at an impressive 4,500.

It is its own network of blockchains that can be customized to suit the needs of any specific user. To put things simply, the Avalanche network can be used to create their own customer blockchain. Like many cryptos, AVAX soared in 2021 from an initial price below 10 per token, to an all-time high price of $146 per token. The Avalanche protocol seemingly came out of nowhere last year to be the second largest DeFi token in market cap behind Terra. Terra has gained immense popularity by both investors and businesses alike, and is seen by many to be an important protocol in the long-run. The Proof of Stake network also uses significantly less energy than other platforms. Without going into all of the technical details, Terra is building a transaction and payment platform that offers retailers a significantly lower transaction fee than existing infrastructure. The intention of Terra is to create a DeFi protocol that creates algorithmic stablecoins through a proof of stake model. Terra is a DeFi project that was founded by two South Korean entrepreneurs named Daniel Shin and Do Kwon in 2018. Luna entered the year priced at below 1.00 USD, and hit an all-time high price of $103.33 USD in late-December. Top DeFi Tokens to Watch Terra (LUNA)Д¬urrently ranked as the top DeFi token by market cap, Terra and its native token, Luna, have been on a historic run since the start of 2021. So without further ado, here are 20 DeFi tokens and projects that are worth looking into for 2022. As we continue to move into a more digital world, DeFi is likely to be adopted as a mainstream and legitimate way to have control over your finances without paying fees to a financial middleman. Much of the DeFi networks right now run on the Ethereum blockchain, with over $90 billion already staked & invested in these protocols. It certainly seems like it is headed that way. The possibilities with DeFi are seemingly endless with options like liquid swaps, liquidity pools, and yield farming, to name a few. Think of these as DeFi interest rates that provide you with an incentive to stake your coins. DeFi also uses stablecoins as well, which is a cryptocurrency that is pegged to a fiat currency, usually the US Dollar.ДeFi can be as simple as staking your cryptocurrencies in a DeFi account where you will receive an APY, or Annual Percentage Yield or an APR or Annual Percentage Return. While you can use benchmark cryptos like bitcoin or Ethereym, there are plenty of specific DeFi tokens that you can swap to. To use DeFi you do still have to convert your fiat currency into cryptocurrencies. It is often grouped in with cryptocurrencies, and the two do operate on similar technology, but whereas cryptocurrencies are the token, DeFi is the platform or application they are used on. DeFi, or Decentralized Finance, is a revolutionary way that investors are using secure digital ledgers to conduct peer-to-peer financial transactions.

Newest defi coins