Among the myriad of DeFi projects, three prominent platforms stand out in the last week: Uniswap, Maker, and Kaspa. Each of these projects plays a vital role in revolutionizing various aspects of finance and blockchain technology.
In this article, we will explore these coins, their importance, use cases, and the latest news surrounding them
1) Uniswap (UNI)
Uniswap is a decentralized exchange (DEX) built on the Ethereum blockchain, known for its automated market-making (AMM) protocol. Launched in 2018 by Hayden Adams, Uniswap has become one of the most popular and essential DeFi projects in the crypto space. Its significance lies in providing liquidity and trading opportunities for a wide range of tokens without relying on a traditional order book.
1/ New beta drop! 👀
Meet UniswapX⚡— a new permissionless, open source (GPL), auction-based protocol for trading across AMMs & other liquidity sources.
TL;DR: Over time, it’ll give users more liquidity, better prices, MEV protection, & gas-free swapping!
Opt-in to the beta👇 pic.twitter.com/30s4dxdeoW
— Uniswap Labs 🦄 (@Uniswap) July 17, 2023
Uniswap facilitates peer-to-contract trading, enabling users to swap ERC-20 tokens without the need for an intermediary. Users can also become liquidity providers by contributing to liquidity pools, earning fees in return. This democratized approach allows anyone to participate in the liquidity provision process, contributing to a more efficient and decentralized financial ecosystem.
In v3, each pool was a separate smart contract.
In v4, all pools will be held within a single contract.
It’s called the “Singleton” design pattern and it’s a big gas saver. pic.twitter.com/AJjnkVI8uy
— Uniswap Labs 🦄 (@Uniswap) July 28, 2023
So, Uniswap’s governance token, UNI, was successfully launched, granting holders voting rights and access to participate in the platform’s governance decisions. Uniswap has also been at the forefront of Ethereum’s scaling challenges, with the rise of Layer 2 solutions and the migration towards Ethereum 2.0 to address scalability issues. Additionally, Uniswap continues to expand its offerings, adding support for various tokens and enhancing its user interface and experience.
According to CoinGecko, the price of UNI is currently at $6.43 which is 12.2% higher than the last 7 days.
2) Maker (MKR)
Maker is a pioneering DeFi project and a decentralized autonomous organization (DAO) that operates on the Ethereum blockchain. Launched in 2015 by Rune Christensen, MakerDAO aims to create a decentralized stablecoin known as DAI, which is pegged to the value of the US dollar. Maker’s significance lies in its role as a decentralized collateralized lending platform.
The @SteakFi team has published the latest Protocol Economics Report, covering the performance of June!
Let’s take a look at the key highlights from MakerDAO’s economic performance in the previous month.
— Maker (@MakerDAO) July 31, 2023
Maker’s primary use case is the creation of DAI through a process called “collateralized debt positions” (CDPs). Users lock up various digital assets as collateral, enabling them to mint DAI up to a specific collateralization ratio. This stability allows users to mitigate price fluctuations and retain the benefits of a digital asset while maintaining relative price stability.
Spark Protocol’s DAI borrows hit a new ATH and surpassed the mark of 10 million DAI! — Now at 14.4 million DAI ⚡
20 million, soon?
→ https://t.co/SK1gLORGdu pic.twitter.com/4ch3CY4EhK
— Maker (@MakerDAO) July 24, 2023
So, MakerDAO has undergone significant upgrades and improvements to enhance its protocol’s efficiency and security. One notable upgrade was the launch of the Multi-Collateral Dai (MCD) system, which expanded the assets accepted as collateral to create DAI, making the platform more versatile. Additionally, the MakerDAO community continuously worked on proposals for governance and system upgrades to ensure the stability and effectiveness of the platform.
According to CoinGecko, the price of MKR is currently at $1228 which is 10.9% higher than the last 7 days.
3) Kaspa (KAS)
Kaspa is a relatively newer project compared to Uniswap and Maker, but it has gained attention. The reason was for its unique approach to blockchain scalability and decentralized application (dApp) development. Kaspa aims to address the scalability challenges faced by many existing blockchain networks.
The #Kaspa Community is excited to share the news! @NOWPayments_io accepts $KAS and offers your customers a seamless and innovative payment experience. #KaspaAcceptedHere #DeFi https://t.co/BIuSnNDWpR pic.twitter.com/51yn49ljRw
— Kaspa (@KaspaCurrency) July 21, 2023
Kaspa introduces a novel concept called “Nakasendo,” a scalable. It’s a high-performance blockchain architecture that allows for increased throughput and faster confirmation times. This scalability opens the door to a wide range of use cases. Including decentralized finance applications, secure digital asset transfers, supply chain management, and more.
🎉BIG NEWS from the #Kaspa community! We’re crowdfunding for a browser wallet extension, giving you secure & convenient online storage for your $KAS. With user-friendly features, merchant mode, & more.
Join us & help make this game-changer a reality!https://t.co/zx4a77Q0nW pic.twitter.com/Scdv16AmSx
— Kaspa (@KaspaCurrency) July 22, 2023
So, Kaspa has been actively developing its blockchain infrastructure and attracting attention from developers and users alike. Its focus is on scalability and decentralization positions. It is a potential solution to the limitations faced by other blockchain networks. Kaspa’s development team continuously worked on upgrades and optimizations to strengthen its blockchain protocol.
According to CoinGecko, the price of KAS is currently at $0.0386 which is 8.8% higher than the last 7 days.
Conclusion
Uniswap, Maker, and Kaspa represent three remarkable projects in the decentralized finance ecosystem, each contributing to different aspects of the blockchain industry. Uniswap revolutionizes token exchange and liquidity provision, Maker empowers users with a stablecoin pegged to the US dollar, and Kaspa addresses scalability challenges faced by existing blockchain networks.
These projects highlight the transformative potential of DeFi and demonstrate the ongoing innovation within the blockchain space. As the DeFi landscape continues to evolve, these projects, along with many others, will play pivotal roles in reshaping traditional finance and driving the widespread adoption of decentralized technologies. For the latest news and developments surrounding these projects, it is crucial to consult reliable sources and stay informed in the ever-changing world of DeFi.
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