Some of the most interesting Automated Market Makers (AMMs) are the ones that don’t always sit at the top. We’ve compiled a list of projects worth keeping an eye on – whether it’s community-driven development, novel pool mechanics, or just doing things differently from the rest of the crowd.
Read also: What Are Automated Market Makers (AMM)?
Table of Contents
Uniswap (UNI)
Uniswap is a decentralized exchange (DEX) built on the Ethereum blockchain, utilizing an AMM model to facilitate token swaps without intermediaries. Launched in 2018, it has become one of the most prominent platforms in DeFi, offering users the ability to trade ERC-20 tokens directly from their wallets.
The UNI token serves as Uniswap’s governance token, allowing holders to participate in protocol decisions and development proposals. Its widespread adoption and integration across various DeFi applications underscore its influence in the cryptocurrency market.
Read also: SEC Drops Uniswap, Robinhood and Coinbase Cases
PancakeSwap (CAKE)
PancakeSwap operates as a DEX on the Binance Smart Chain (BSC), providing users with a platform for swapping BEP-20 tokens. It offers features like yield farming, lotteries, and NFT trading, catering to a broad user base seeking low transaction fees and fast processing times.
The CAKE token is central to PancakeSwap’s ecosystem, used for staking, participating in governance, and earning rewards. Its functionality and the platform’s user-friendly interface have contributed to its popularity.
Read also: PancakeSwap CAKE Tokenomics 3.0 – Everything You Need to Know
Curve Finance (CRV)
Curve Finance specializes in stablecoin trading, offering low slippage and efficient swaps between assets like USDC, DAI, and USDT. Its AMM design is optimized for stablecoins, making it a preferred choice for users seeking stable and predictable trading experiences.
The CRV token is used for governance and incentivizing liquidity providers. By locking CRV tokens, users can boost their rewards, aligning incentives and promoting long-term participation in the protocol.
SushiSwap (SUSHI)
SushiSwap began as a fork of Uniswap but has since introduced unique features, including yield farming and lending services. It supports multiple blockchains, expanding its reach and offering users various DeFi products under one platform.
The SUSHI token enables holders to participate in governance and earn a share of the platform’s transaction fees. Its community-driven approach and continuous development have maintained its relevance, although the market cap of the project is currently below $200 million.
Balancer (BAL)
Balancer is an AMM protocol that allows for customizable liquidity pools with multiple tokens and varying weights. This flexibility enables users to create and manage portfolios that automatically rebalance, offering innovative solutions for liquidity provision.
The BAL token is used for governance and rewarding liquidity providers. By participating in the protocol’s decision-making processes, BAL holders influence the platform’s strategic direction.
Read also: What Are Automated Market Makers (AMM)?
