1. Lido Finance (LDO)
Lido Finance (LDO) is a cryptocurrency staking platform available on the Ethereum, Solana, Polkadot and Kusama networks. The platform provides a liquidity solution for users, allowing them to stake their ETH with no minimum deposit or maintain a complex infrastructure when engaging in on-chain activities.
Lido Finance issues a token called stETH, which is linked to the ETH that users stake on their platform in a 1:1 ratio. Users can use this stETH token like regular ETH to participate in transactions on cryptocurrency exchanges and use for other decentralized financial activities on other platforms.
The Lido DAO (decentralized organization) manages the staking fund and collects a 10% fee on the earnings, which is shared between the node operators and the Lido DAO. Lido also supports SOL, DOT and KSM staking on their native blockchains.
LDO is a native utility token used for:
Grant administrative rights in Lido DAO.
Manage charge and distribution parameters.
Manage the addition and removal of Lido node operators.
LDO currently has a market cap of $1,805,394,541 and is currently trading at $2.28.
Lido Finance (LDO) collected fees of $48 million in March and $49 million in April. And as of May, LDO’s total fees collected have reached $59.7 million. Over the last 90 days, the protocol has seen a 63% increase in fees.
2. PancakeSwap (CAKE)
PancakeSwap is a leading decentralized exchange built on BNB Chain, a blockchain of Binance. The highlight of PancakeSwap is its ability to allow users to swap their coins without going through traditional intermediary services. The platform focuses primarily on BEP20 tokens, a specific token standard developed by Binance.
PancakeSwap does not need to be introduced to people who have been using DeFi (decentralized finance) for a long time. It is a useful decentralized exchange not only because of its ability to swap cryptocurrencies, but also because it offers many other features to its users.
Stake CAKE in Syrup Pools.
Lending and providing liquidity on an automated market maker (AMM).
Participate in IFO ((Initial Farm Offerings)..
Engage in perpetual trading.
Buy or sell NFTs through the NFT Marketplace.
PancakeSwap’s CAKE token currently has a market cap of $309 million and Locked Assets (TVL) on the platform of $1.66 billion. The market cap on TVL is 0.186. Currently, the trading price of CAKE is $1.75.
For the last 90 days, PancakeSwap has been on the list of the top 10 protocols for fee generation. Ranked #9, PancakeSwap generated a total of $28.2 million in fees during this time.
PancakeSwap generated $45,880,829.5, so the fee/MC ratio is 0.148.
3. Convex Finance (CVX)
Convex Finance is a DeFi protocol that helps liquidity providers on Curve (CRV) earn a share of the profits from transaction fees on Curve without depositing liquidity directly into Curve.
liquidity providers can stake their CRV with Convex and get rewards from liquidity mining along with CRV boost. This benefits CRV staking users by improving their capital and position efficiency.
See how it works in 4 easy steps:
Deposit any amount of CRV tokens into Convex
Get cvxCRV tokens in exchange for providing CRV
Get a share of the total CRV . rewards
Earn Curve . Platform Trading Fees
Convex Finance’s CVX token currently has a market capitalization of $339 million and Total Value Locked (TVL) on the platform of $3.25 billion. The market cap on TVL is 0.104. Currently, the trading price of CVX is $4.26.
In the last 90 days, Convex ranks 7th on the list of top 10 protocols in terms of fee generation. During this time, the protocol generated a total of $45.1 million from the fee.
4. SushiSwap (SUSHI)
Sushi is a decentralized exchange (DEX) built on the Ethereum blockchain and run by the community. This DEX uses an automated market maker model (AMM) and a liquidity pool to create an enabling environment for trading. Users can also engage in profitable farming and staking on the platform.
Sushi’s native token is SUSHI, which is used to manage the protocol and incentivize liquidity providers. This token plays an important role in the operation and development of SushiSwap.
With a current market cap of $164 million, SUSHI is trading at $0.85495. Over the last 90 days, SushiSwap has generated a total of $14 million in transaction fees on the platform.
SushiSwap generated $24,766,726.4 at a fee/mc ratio of 0.15.
5. GMX (GMX)
GMX is a decentralized exchange (DEX) created to allow the trading of crypto perpetual futures contracts against popular cryptocurrencies like Bitcoin, Ethereum and many more. The platform allows users to make spot and derivatives trades with leverage up to 30 times their collateral by borrowing from a large liquidity pool.
The special feature of GMX is that traders can trade with relatively low fees, not affected by slippage (unexpected price fluctuations) and no “funding rate” (rebalancing fee) using the model. Unique shape GLP Pool.
GMX launched in September 2021 and has attracted a total trading volume of over $130 billion with over 285k users. This has made GMX one of the top derivatives DEXs on Arbitrum and Avalanche.
Currently, GMX has a market capitalization of $495,618,871 and is trading at $56.28.
GMX has generated $75,293,824 in fees year-to-date, hence a fee/mc ratio of 0.151.
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