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Centralized Giants in Crypto: 5 Projects That Bend the Rules of DeFi

CFN Feature Crypto
  • Chainlink empowers smart contracts with real-world data, ensuring seamless blockchain connectivity through its decentralized oracle network.
  • Uniswap revolutionizes DeFi trading with automated liquidity, low-cost token swaps, and governance via the UNI token for protocol upgrades.
  • DAI remains a stable decentralized stablecoin, maintaining its USD peg through smart contracts and MakerDAO’s transparent governance.

While decentralization is the foundation of crypto, some projects maintain significant control over their ecosystems.

Chainlink(LINK) Enhances Smart Contracts 

Current price: $19.45

Market cap: $12.41B

Chainlink create smart contracts that maintain universal connectivity. The decentralized oracle network of Chainlink allows blockchains to establish secure connections to external payment systems and data sources and events. The functionality of smart contracts heavily relies on this capability to obtain real-world data that makes them operational.

The Chainlink Network exists through active support from an open-source community that comprises data providers together with node operators and developers and researchers. Both decentralized activity and revenue generation become possible through this platform that enables users to run nodes in the network. Chainlink established itself as a leading off-chain data provider through its trusted partnerships with various data providers like Brave New Coin and Alpha Vantage and Huobi.

Uniswap(UNI) Optimizes Decentralized Token Trading

Current price: $8.87

Market cap: $5.3B

Uniswap operates as a decentralized trading protocol which allows users to execute automatic token swaps inside the DeFi space. This automated market maker (AMM) implements smart contracts to boost system liquidity which solves previous decentralized exchange problems. The automated market-making solution of Uniswap brings reduced trading expenses to its users while it does away with requirements for participant identity verification.

The protocol established its governance token under the name UNI so users could direct protocol development directions. Uniswap implemented several technological updates through V3 which became available on the mainnet in May 2021. This updated protocol delivers better capital efficiency to liquidity suppliers and optimized transaction execution and improved operational infrastructure. DeFi liquidity users rely heavily on Uniswap because it supports various token combinations and price monitoring services.

DAI(DAI) Maintains Stability as a Decentralized Stablecoin

Current price: $0.9996

Market cap:  $5.36B

The Ethereum network supports DAI through the MakerDAO and Maker Protocol management platform. Smart-contract vaults maintain DAI’s stability because the token locks mixed cryptocurrencies which are valued against the USD. The decentralized autonomous organization which operates DAI ensures complete visibility throughout the token creation and destruction process because it does not operate as a private entity stablecoin.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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