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- SushiSwap is an automated market maker (AMM).
- Aave stands out from its rivals in an increasingly saturated market.
Let us take a look at the top 3 Projects Locked in the Polygon Ecosystem in terms of TVL as of November 17.
AAVE
Aave is a decentralized crypto lending and borrowing system. Digital assets deposited into specifically established liquidity pools receive interest. Borrowers may then use their crypto as collateral to get a quick loan.
AAVE is a governance token that gives owners a vote in the future development of the system. Aave stands out from its rivals in an increasingly saturated market. It was one of the top projects in total crypto locked in its protocol during the DeFi mania in summer 2020.
The project enables users to borrow and lend in over 20 cryptocurrencies, giving them more options. Aave’s “flash loans” are advertised as the first uncollateralized lending alternative in the DeFi industry. But they must be repaid inside the same transaction. According to CoinMarketCap, the Aave price today is $278.67 USD with a 24-hour trading volume of $365,330,211 USD. Aave is down 1.27% in the last 24 hours.
QuickSwap (QUICK)
QuickSwap is a fork of Uniswap, the developer of Automated Market Makers in the cryptocurrency’s rapidly developing DeFi sector. Both are magical. Instead of unicorn magic, it chose dragon magic. It’s a speedier kind of magic only found in a remote region known as Layer 2, as per the team behind the project.
According to CoinMarketCap, the QuickSwap price today is $365.71 USD with a 24-hour trading volume of $30,807,188 USD. QuickSwap has been down 0.25% in the last 24 hours.
SushiSwap (SUSHI)
SushiSwap is an automated market maker (AMM). AMMs are decentralized exchanges that employ smart contracts to generate markets for any given pair of tokens. It is a fork of Uniswap, the AMM synonymous with decentralized finance (DeFi) and the resulting trading boom in DeFi coins.
Furthermore, SushiSwap wants to broaden the AMM market and introduce new features, including enhanced benefits for network users through its own token, SUSHI. According to CoinMarketCap, the SushiSwap price today is $9.87 USD with a 24-hour trading volume of $212,987,715 USD. SushiSwap is up 2.13% in the last 24 hours.