DeFi ecosystems by components, Part I
Whenever layer 1 (L1) blockchains are compared, the discussion focuses on the value of the respective coins, the market cap, the TVL, etc. Some good examples of such comparisons are:-
- https://www.cointree.com/learn/smart-contract-platforms/
- https://www.statista.com/statistics/1263975/ethereum-binance-share-in-defi-tvl/
- https://www.binance.com/en/blog/fiat/layer-1-blockchain-tokens-everything-you-need-to-know-421499824684903155
However, it’s worth remembering that these are fundamentally programming ecosystems, which have components built for DeFi activities. So we took a different perspective: Let’s set aside the token, the market cap, the TVL. What features does this ecosystem actually have? What are the the different DeFi components available?
When we went looking, we couldn’t find that perspective. So we put it together ourselves. Below, we present a DeFi product specific way of looking at the different blockchain ecosystems.
How to read the table cell backgrounds: MATURE COMING ALONG IMMATURE.
The following table has the list of chains with the maximum TVL, as of March 2022. In subsequent editions of this post, we will look at other ecosystems, selected by other criteria.
|
No |
Blockchain (type) |
Primitives |
Products |
Comments |
||||||
|
Stable Coin |
Oracle |
Bridge |
DEX |
Lending & Borrowing |
Yeild Aggregators |
Derivative tool |
Staking |
|||
|
1 |
Ethereum (EVM) |
Tether, USDC, DAI |
Chainlink, Witnet, Provable, Paralink, Dos.Network, UMA |
N/A (every other bridge connects here) |
Uniswap, Sushiswap, 1inch, InstaDapp, Curve |
MakerDao, AAVE, Compound, Liquity |
Harvest, Yearn Finance, Alpha Homora |
dYdX, OPYN, Synthetix, Hegic, UMA |
Lido |
|
|
2 |
Terra (Cosmos) |
Stablecoin ecosystem |
Oracle module included in protocol |
Terra bridge |
TerraSwap |
Mars Protocol |
Prism, Pylon |
Mirror |
Lido, Anchor Protocol, Stader |
|
|
3 |
Binance Smart Chain (EVM) |
DAI |
Berry Data, Chainlink, BSC Oracle |
Binance bridge, cBridge |
PancakeSwap, Ellisis, MDEX, Biswap |
Venus, Cream |
Alpaca Finance, Tranchess, YSL, Belt Finance |
|
Euler Tools |
Euler Tools is live for staking but still don’t have much TVL which means people are still not trusting to stake their money with Euler. |
|
4 |
Avalanche (EVM) |
USDC, DAI |
Chainlink |
Avalanche bridge, cBridge |
Curve, Tader Joe, Sushi swap |
AAVE, Benqi |
Benqi, Yield Yak, Beefy Finance |
|
Vector Fianance |
|
|
5 |
Solana (non-EVM) |
Tether |
Chainlink, Pyth |
Wormhole, Sollet, Allbridge |
Serum, Raydium, Saber, Orca |
Solend, Mango Markets |
Tulip protocol, Sunny, Francium |
Zeta Markets |
Staking module included in the protocol, Marinade Finance, Lido |
DAPPS like zeta market, Tulip protocol, sunny, francium, solend, mango market are live on solana but they don’t have liquidity and TVL. Therefore mentioned as a immature category. |
|
6 |
Polygon (EVM) |
Tether, USDC, DAI |
Chainlink |
cBridge |
Quickswap, Uniswap, Sushiswap, Curve, Dfyn |
AAVE, Creame Finance, Fulcrum, Torque |
Beefy Finance |
Pulse, FinNexus, Fractional |
Stake Dao |
Dapps like Pulse, FinNexus, Fractional and Beefy Finance are live on Polygon but they don’t have liquidity and TVL. Therefore mentioned as an immature category. |
|
7 |
Cardano (non-EVM) |
|
Chainlink,Charlie3, Pigy Oracle, API3, |
Agix, Bondly |
Polyswap, Sundaeswap,Minswap , Muesliswap, AdaSwap |
Liqwid, Kitty Party, AADA, ADALand, Paribus, Adax, Meld |
Optim, Genius Yield |
Matrixswap |
VyFi |
Due the new and complex architecture of Cardano, all the available DAPPS on Cardano are not mature enough to have high liquidity and TVL. |
|
8 |
Algorand (non-EVM) |
Tether, USDC |
Algoracle |
|
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