Santiment Discloses Top DeFi Platforms As Per Development Activity

Vandana  |  Aug 6, 2020

Santiment, a well-known crypto analytics firm has recently revealed data regarding the DeFi platforms. In its recent research, it has revealed the top DeFi platforms for the month of July. In this list, it has also included Band Protocol, Augur, Synthetix, and Maker.

Along with this, Santiment has also revealed different information regarding the DeFi platform like those platforms which have seen some huge gains in terms of price but are not having that much development activity. Such platforms with huge gains include Compound, Yearn Finance, Balancer, and Aave. 

Santiment specifies Maker as top DeFi platform of the month

In this report, Santiment has specified that Maker is the top DeFi platform among all for the month of July. This is because this platform is able to gain several government proposals and along with this it has also onboarded new tokens to the platform.

After Maker, it is Synthetix that comes in second place as this platform has also gone through some huge developments in the previous month. The firm is working quite impressively in order to improve the performance of the platform. In its roadmap, Synthetix has mentioned many improvements that will be done in the second half of the year. Plus it is also moving towards decentralized governance which is a great step in itself.

Other protocols also improving and making progress 

It is not the only Maker and Synthetix that is making progress, Santiment has mentioned other protocols as well which are moving towards improvement. Band protocol which is a cross-chain oracle platform has been placed on the third position in the list. It has been seen that this protocol has improved its incentive systems and along with this, it has also upgraded the oracle scripts of the platform. This is not all, there are other DeFi protocols as well which has been mentioned in the list. All these platforms are working quite great when it comes to improvement and development.

Articles You May Read.

    Related News