Ethereum Ecosystem Tokens also known as ERC20 tokens have been a vital contributor to the massive adoption and expansion of crypto and blockchain. ERC20 allows smart-contract-enabled tokens to be used across Ethereum-based networks and projects across DeFi- Decentralized Finance, GameFi, Decentralized Applications, and other categories.
Now that there are so many Ethereum ecosystem tokens it can be hard to keep track of them all. To help we have comprised a list of the top 7 ERC20 Tokens on the market today that could be a great addition to any crypto portfolio.
BudBlockz is a growing ecosystem perfectly positioned to benefit from the increasing legalization and decriminalization of cannabis worldwide. According to the marketers, its growth rate is estimated to be 23.9%, and by 2030, the industry will reach $176.5 billion.
Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens. Users can trade Ethereum tokens on Uniswap without relying on an intermediary to hold their funds. The platform uses a new trading model called an automated liquidity protocol.
Next in the list of top Ethereum Ecosystem tokens, we have MakerDAO is a peer-to-peer decentralized protocol based on the Ethereum network that facilitates borrowing, lending, and savings. Users can borrow by depositing Ethereum-based tokens such as UNI, YFI, or BTC into the protocol, creating a collateralized debt position for the amount against which they wish to borrow. The protocol allows you to borrow funds denominated in DAI. You need Ethereum and a MetaMask wallet to do this.
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Ox is a DEX based on the Ethereum blockchain. It is an infrastructure protocol that allows users to easily trade ERC20 tokens and other assets on the Ethereum blockchain without relying on centralized intermediaries like traditional cryptocurrency exchanges.
Aave is an open-sourced lending protocol on the Ethereum blockchain. Lenders can contribute various Ethereum-based assets into liquidity pools to earn rewards, while borrowers can place approved assets up for collateral to borrow against.
Chainlink is a decentralized ‘oracle’ network launched in 2017. Chainlink is without a doubt the most popular decentralized oracles in the crypto market—others include Band Protocol and MakerDAO—and is among the best Ethereum ecosystem tokens to own. As smart contracts are on-chain but need off-chain data, oracles – also known as middleware – act as intermediaries to link real-world data to the blockchain. It is surely one of the best Ethereum ecosystem tokens to consider as your next investment.
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1INCH is the native token of the decentralized exchange (DEX) 1inch. The Ethereum-based DEX protocol aims to offer its users the best rates by aggregating the best cryptocurrency rates across all DEXs. 1INCH is used to furnish the platform’s decentralized “instant governance” model and facilitates liquidity mining through token staking.
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