Overcollateralized borrowers deposit funds into Abracadabra and receive MIM.

Abracadabra is a non-custodial lending protocol for stablecoins built on Ethereum and other blockchains. Abracadabra was founded by Daniele Sestagalli and launched in 2021.

SPELL tokenholders own and govern the protocol. They currently take all of the total interest & borrow fees and cut of liquidations paid by borrowers (protocol revenue).

Abracadabra.money

Market makers offer trades through order book & make money on bid-ask spreads paid by takers (supply-side revenue).

0x is a non-custodial exchange protocol built on Ethereum. 0x was founded by Amir Bandeali & Will Warren and launched in 2016.

 ZRX tokenholders own and govern the protocol. They currently take all of the total trading fees paid by traders (protocol revenue). 0x’s investors include Coinbase Ventures, Jump Capital, Pantera Capital, etc.

 Liquidity providers deposit funds into 1inch and receive trading fees from traders (supply-side revenue) & 1inch aggregates multiple non-custodial exchanges and traders exchange funds through 1inch.

1inch is a non-custodial DEX aggregator built on Ethereum and other blockchains. 1inch was founded by Sergej Kunz & Anton Bukov and launched in 2019.

1inch tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (protocol revenue). 1inch's investors include ParaFi Capital, FTX Exchange, Pantera Capital, etc.

1inch

Lenders deposit funds into 88mph and receive interest payments from borrowers (supply-side revenue).

 88mph is a non-custodial lending protocol built on Ethereum. 88mph was founded by Guillaume Palayer and launched in 2019.

 MPH tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (protocol revenue).

88mph

Lenders deposit funds into Aave and receive interest payments from borrowers & trading fees from traders (supply-side revenue).

 Aave is a non-custodial lending & flash loan protocol built on Ethereum and other adjacent blockchains. Aave was founded by Stani Kulechov and launched in 2017.

 AAVE tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers & trading fees paid by traders (protocol revenue). Aave’s investors include ParaFi Capital, Framework Ventures, Three Arrows Capital, etc.

Aave

Alchemist consists of an MEV protected exchange aggregator (mistX), a fundraising tool (Copper), and a smart wallet service (Crucible).

Alchemist is a DEX aggregator, an arbitrage service, a fundraising platform, and a non-custodial wallet built on Ethereum and other blockchains. Alchemist was founded by thegostep and launched in 2021.

MIST tokenholders own and govern the protocol. They currently take all of the protection fees paid by traders on mistX, a cut of the arbitrage profits earned by mistX, a cut of the funds raised on Copper, and all of the fees for minting NFTs on Crucible (protocol revenue).

Alchemist

Overcollateralized borrowers deposit funds into Alchemix and receive alUSD & a return on investment (supply-side revenue).

Alchemix is a non-custodial lending & asset management protocol built on Ethereum. Alchemix was founded by pseudonymous Scoopy Trooples, etc., and launched in 2021.

 ALCX tokenholders own and govern the protocol. They currently take a cut of the total return on investment (protocol revenue). Alchemix’s investors include Alameda Research, CMS Holdings, Immutable Capital, etc.

Alchemix Finance

Validators process transactions and receive fees from users (supply-side revenue).

Algorand is a smart contract platform for decentralized applications (a blockchain). Algorand was founded by Silvio Micali and launched in 2018.

ALGO holders own and govern the protocol. They currently take a cut of the transaction fees paid by users (protocol revenue). Algorand's investors include Union Square Ventures, Multicoin Capital, Pillar, etc.

Algorand

Miners process transactions & store information and receive fees from users (supply-side revenue).

Arweave is a smart contract platform & a data storage network (a blockchain). Arweave was founded by Sam Williams & William Jones and launched in 2017.

AR holders own and govern the protocol. They currently do not take a cut of the total transaction fees paid by users (protocol revenue). Arweave’s investors include a16z, Coinbase Ventures, USV, etc.

Arweave

Liquidity providers deposit funds into Autofarm and receive a return on investment (supply-side revenue).

Autofarm is asset management & exchange aggregator protocol built on Binance Smart Chain and other blockchains. Autofarm was founded by an anonymous team and launched in 2020.

AUTO tokenholders own and govern the protocol. They currently take a cut of the total return on investment, total assets under management & all of the deposit fees paid by liquidity providers. Autofarm does not currently take a fee from the exchange aggregator (protocol revenue).

Autofarm

Validators process transactions and receive validator rewards.

AVAX is a smart contract platform for decentralized applications (a blockchain). Avalanche was founded by Emin Gün Sirer and launched in 2019.

AVAX holders own and govern the protocol. They currently take (burn) all of the total transaction fees paid by users (protocol revenue). AVAXs investors include a16z, Polychain, Galaxy Digital, etc.

Avalanche

Players buy/sell NFTs on the Axie marketplace. Players can also breed Axies against a fee & participate in presales.

Axie Infinity is a non-custodial game & marketplace built on Ethereum and other adjacent blockchains. Axie Infinity was founded by Trung Nguyen, Aleksander Larsen & Jeffrey Zirlin and launched in 2018.

AXS tokenholders own and govern the protocol. They currently take a cut of the total sales and all of the breeding fees & presales paid by players (protocol revenue). Axie Infinity's investors include ConsenSys, Hashed, Collaborative Fund, etc.

Axie Infinity

Liquidity providers deposit funds into Balancer and receive trading fees from traders (supply-side revenue).

Balancer is a non-custodial exchange protocol built on Ethereum. Balancer was founded by Fernando Martinelli and launched in 2018.

BAL tokenholders own and govern the protocol. They do not currently take a cut of the total trading fees paid by traders (protocol revenue). Balancer's investors include DeFiance Capital, Three Arrows Capital, Alameda Research, etc.

Balancer

Liquidity providers deposit funds into Bancor and receive trading fees from traders (supply-side revenue).

Bancor is a non-custodial exchange protocol built on Ethereum. Bancor was founded by Galia Benartzi, Guy Benartzi, Eyal Hertzog, & Yudi Levis and launched in 2016.

BNT tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (protocol revenue). Bancor's investors include DeFiance Capital, ParaFi Capital, Mechanism Capital, etc.

Bancor

Liquidity providers deposit funds into Barnbridge and receive a return on investment (supply-side revenue).

Barnbridge is an asset management protocol built on Ethereum. Barnbridge was founded by Troy Murray, Tyler Scott Ward & Bogdan Gheorghe and launched in 2020.

BOND tokenholders own and govern the protocol. They currently take a cut of the total return on investment & all of the total withdrawal fees paid by liquidity providers (protocol revenue). Barnbridge’s investors include Fourth Revolution Capital, ParaFi Capital, Centrality, etc.

Barnbridge

Liquidity providers deposit funds into BasketDAO and receive a return on investment (supply-side revenue).

BasketDAO is an asset management protocol built on Ethereum. BasketDAO was founded by an anonymous team and launched in 2021.

 BASK tokenholders own and govern the protocol. They currently take a cut of yield earned on underlying assets, paid by liquidity providers (protocol revenue).

Basket DAO

Lenders deposit funds into BENQI and receive interest payments from borrowers (supply-side revenue).

BENQI is a non-custodial lending protocol built on Avalanche. BENQI was founded by an international team of software developers and launched in 2021.

 QI tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (protocol revenue). BENQI’s investors include Dragonfly Capital, Mechanism Capital, Spartan, etc.

BENQI

Binance Chain is a smart contract platform for decentralized applications (a blockchain). Binance Chain was founded by Changpeng Zhao and launched in 2020.

BNB holders own and govern the protocol. They currently do not take a cut of the total transaction fees paid by users (protocol revenue).

Binance Smart Chain

Miners process transactions and receive fees from users (supply-side revenue).

Bitcoin is a distributed ledger for transfer and store of value (a blockchain). Bitcoin was founded by a pseudonym Satoshi Nakamoto and launched in 2009.

BTC holders own and govern the protocol. They currently do not take a cut of the total transaction fees paid by users (protocol revenue).

Bitcoin

Liquidity providers deposit funds into Cap and receive liquidation fees from traders (supply-side revenue).

Cap is a non-custodial exchange for perpetual contracts built on Arbitrum. Cap was founded by an anonymous team and launched in 2021.

CAP token holders own and govern the protocol. They currently take a cut of the total liquidation fees paid by traders (protocol revenue).

Cardano is a smart contract platform for decentralized applications (a blockchain). Cardano was founded by Charles Hoskinson & Jeremy Wood and launched in 2017.

ADA holders own and govern the protocol. They currently do not take a cut of the total transaction fees paid by users (protocol revenue).

Cardano

Lenders deposit funds into Tinlake and receive interest payments from borrowers (supply-side revenue).

Tinlake is a real-world asset bridge & non-custodial lending protocol built on Ethereum. Tinlake was founded by Centrifuge team and launched in 2020.

CFG tokenholders own and govern the protocol. They do not currently take a cut of the total interest paid by borrowers (protocol revenue). Centrifuge's investors include IOSG Ventures, Galaxy Digital, TRGC, etc.

Centrifuge

Liquidity providers deposit funds into Clipper and receive trading fees from traders (supply-side revenue).

Clipper is a non-custodial exchange protocol built on Ethereum. Clipper was founded by Shipyard Software and launched in 2021.

Clipper team and investors own and govern the protocol. They currently do not take a cut of the total trading fees paid by traders (protocol revenue). Clipper's investors include Polychain, Robot Ventures, 0x Labs, etc.

Clipper

Lenders deposit funds into Compound and receive interest payments from borrowers (supply-side revenue).

Compound is a non-custodial lending protocol built on Ethereum. Compound was founded by Robert Leshner & Geoffrey Hayes and launched in 2017.

 COMP tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (protocol revenue). Compound’s investors include a16z, Paradigm, Polychain, etc.

Compound

Liquidity providers (LPs) and stakers deposit funds into Convex Finance and receive a return on investment (supply-side revenue).

Convex Finance is an asset management and staking protocol built on Ethereum. Convex Finance launched in May 2021.

CVX tokenholders own and govern the protocol. They currently take a cut of the total return on investment paid by liquidity providers (protocol revenue).

Convex Finance

Network participants process transactions and receive fees from users (supply-side revenue).

Cosmos Hub is an interoperability & security platform for blockchains and applications. Cosmos was founded by Ethan Buchman & Jae Kwon and launched in 2019.

ATOM holders own and govern the protocol. They currently take a cut of the total transaction fees paid by users (protocol revenue). Cosmos’s investors include Paradigm, IOSG Ventures, 1confirmation, etc.

Cosmos

Overcollateralized investors deposit funds into Cryptex and mint TCAP tokens.

Cryptex is non-custodial asset management protocol built on Ethereum. Cryptex was founded by Joe Sticco, Preston Van Loon & Thomas Matzner and launched in 2021.

CTX token holders own and govern the protocol. They currently take all of the total withdrawal fees paid by investors (protocol revenue). 

Cryptex

Liquidity providers deposit funds into Curve and receive trading fees from traders (supply-side revenue).

Curve is a non-custodial exchange protocol built on Ethereum. Curve was founded by Michael Egorov and launched in 2020.

CRV tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (protocol revenue). 

Curve

Players buy NFTs from the Decentral Games & trade them on the aftermarket. Players can also upgrade or activate NFTs against a fee.

Decentral games is a non-custodial casino protocol built on Ethereum and other adjacent blockchains. Decentral Games was founded by Steve Becerra & Miles Anthony and launched in 2019.

 DG tokenholders own and govern the protocol. They currently take all of the mint, royalty, upgrade, and activation fees paid by players (protocol revenue). Decentral Games’ investors include Metaverse Ventures & Bitscale Capital, etc.

Decentral Games

Miners & validators process transactions and receive fees from users (supply-side revenue).

Decred is a distributed ledger for transfer and store of value (a blockchain). Decred was founded by Alex Yocom-Piatt, Dave Collins, David Hill, etc. and launched in 2016.

DCR holders own and govern the protocol. They currently do not take a cut of the total transaction fees paid by users (protocol revenue). Decred’s investors include BlueYard Capital, etc.

Decred

Lenders deposit funds into dForce and receive interest payments from borrowers (supply-side revenue).

 dForce is a non-custodial lending & synthetic asset protocol built on Ethereum and other adjacent blockchains. dForce was launched in 2019.

DF tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (protocol revenue). dForce’s investors include CMBI, Multicoin Capital & Huobi Capital.

dForce

Liquidity providers deposit funds into dHEDGE and receive a return on investment (supply-side revenue).

dHEDGE is an asset management protocol built on Ethereum. dHEDGE was founded by Henrik Andersson, Radek Ostrowski & Ermin Nurovic and launched in 2020.

DHT tokenholders own and govern the protocol. They currently take a cut of the total return on investment paid by liquidity providers (protocol revenue). dHEDGE’s investors include IOSG Ventures, etc.

dHedge

Liquidity providers deposit funds into DODO and receive trading fees from traders (supply-side revenue).

DODO is a non-custodial exchange protocol built on Ethereum and other blockchains. DODO was founded by Qi Wang, Shichao Dai, and Mingda Lei and launched in 2020.

DODO tokenholders own and govern the protocol. They do not currently take a cut of the total trading fees paid by traders (protocol revenue). DODO's investors include Pantera Capital, Three Arrows Capital, Binance Labs, etc.

DODO

Dogecoin is a distributed ledger for transfer and store of value (a blockchain). Dogecoin was founded by Billy Markus & Jackson Palmer and launched in 2013.

DOGE holders own and govern the protocol. They currently do not take a cut of the total transaction fees paid by users (protocol revenue).

Dogecoin

Lenders deposit funds into dYdX and receive interest payments from borrowers & market makers offer trades through order book & make money on bid-ask spreads (supply-side revenue).

dYdX is a non-custodial trading, lending and derivates protocol built on Ethereum and other adjacent blockchains. dYdX was founded by Antonio Juliano and launched in 2017.

 DYDX tokenholders own and govern the protocol. dYdX Trading Inc. currently takes all of the total trading fees paid by traders & a cut of total interest paid by borrowers (protocol revenue). dYdX’s investors include a16z, Polychain, The Spartan Group, etc.

dYdX

Liquidity providers deposit funds into Ellipsis and receive trading fees from traders (supply-side revenue).

Ellipsis is a non-custodial exchange protocol built on Binance Smart Chain (originally a fork of Curve). Ellipsis was founded by an anonymous team and launched in 2020.

EPS tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (protocol revenue). 

Ellipsis Finance

Validators process transactions and receive validator rewards (supply-side revenue).

Elrond is a smart contract platform for decentralized applications (a blockchain). Elrond was founded by Beniamin Mincu and launched in 2018.

EGLD tokenholders own and govern the protocol. They currently take a cut of the transactions fees paid and give the cut to smart contract deployers (protocol revenue).

Elrond

Liquidity providers deposit funds into Enzyme Finance and receive return on investment (supply-side revenue).

Enzyme Finance is an asset management protocol built on Ethereum. Enzyme Finance was founded by Mona El Isa and launched in 2016.

 MLN tokenholders own and govern the protocol. They currently take a cut of the total return on investment, total assets under management & entrance fees paid by liquidity providers (protocol revenue). Enzyme Finance’s investors include KR1, etc.

Enzyme Finance

Liquidity providers deposit data and earn payments paid by users & NMR rewards paid by the protocol (supply-side revenue).

Erasure Protocol is an information marketplace protocol built on Ethereum. Erasure Protocol was founded by Richard Craib and launched in 2015.

NMR tokenholders own and govern the protocol. They currently do not take a cut of payments paid by users (protocol revenue). Erasure Protocol’s investors include Paradigm, Placeholder, USV, etc.

Erasure Protocol

Ethereum is a smart contract platform for decentralized applications (a blockchain). Ethereum was founded by Vitalik Buterin, Anthony Di Iorio, Mihai Alisie, etc. and launched in 2015.

ETH holders own and govern the protocol. They currently take a cut of the total transaction fees (base fee) paid by users (protocol revenue). Ethereum’s investors include KR1, Block Ventures, 8 Decimal Capital, etc.

Ethereum

Buyers register new domains and renew existing ones for which they pay a fee.

Ethereum Name Service (ENS) is an extensible naming system built on Ethereum with similar goals to the Domain Name System (DNS). ENS was founded by Nick Johnson and launched in 2017.

ENS token holders own and govern the protocol. They currently take the full share of all registration and renewal fees.

Ethereum Name Service

Lenders deposit funds into Euler and receive interest payments from borrowers (supply-side revenue).

Euler is a non-custodial protocol on Ethereum that allows users to lend and borrow almost any crypto asset. Euler was founded in 2021.

EUL tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (protocol revenue). Euler’s investors include Paradigm, Lemniscap, Launchhub Ventures, etc.

Euler

Fantom is a smart contract platform for decentralized applications (a blockchain). Fantom was founded by Dr. Ahn Byung Ik and launched in 2019.

FTM holders own and govern the protocol. They currently take a cut of the total transaction fees paid by users (protocol revenue). Fantom’s investors include DHVC, Arrington XRP Capital, 8 decimal Capital, etc.

Fantom

User purchase FEI stablecoin from Fei Protocol.

Fei Protocol is a non-custodial protocol for stablecoins built on Ethereum. Fei Protocol was founded by Joye Santoro, Brianna Montgomery & Sebastian Delgado and launched in 2021.

Tribe tokenholders own and govern the protocol. They currently take all of the total return on investment from deployed capital & act as liquidity providers in Uniswap and receive trading fees paid by traders (protocol revenue). Fei Protocol’s investors include a16z, Variant Fund, Coinbase Ventures, etc.

Fei Protocol

Validators process transactions & store information (POS) and receive fees from users (supply-side revenue).

Filecoin is a smart contract platform & a data storage network (a blockchain). Filecoin was founded by Juan Benet and launched in 2014.

FIL holders own and govern the protocol. They currently take a cut of the total transaction fees paid by users but do not currently take a cut of the storage fees paid by users (protocol revenue). Filecoin’s investors include IOSG Ventures, Winkelvoss Capital, a16z, etc.

Filecoin

Foundation enables users to mint and sell their digital art and earn royalties in return (supply-side revenue). The platform takes a fee for each successful trade (protocol revenue). 

Foundation aims to build a new creative economy by empowering artists, collectors and other users to buy, sell, and participate in live auctions for various digital pieces of art.

Foundation is a NFT marketplace, featuring live auctions, built on Ethereum. The platform was founded by 
Kayvon Tehranian and it was launched in February 2021. 

Foundation

Liquidity providers deposit funds into Futureswap and receive trading fees from traders (supply-side revenue).

Futureswap is a non-custodial derivatives exchange protocol built on Ethereum. Futureswap was founded by Derek Alia & Jesse Abramowitz and launched in 2020.

FST tokenholders own and govern the protocol. They do not currently take a cut of the total trading fees paid by traders (protocol revenue). Futureswap's investors include Framework Ventures, Infinite Capital, IDEO CoLab Ventures, etc.

Futureswap

Liquidity providers deposit funds into GMX and receive trading fees from traders (supply-side revenue).

GMX is a non-custodial exchange for spot and perpetual contracts built on Arbitrum. GMX was founded by an anonymous team and launched in 2021.

MCB token holders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (protocol revenue).

Backers assess the Borrower Pools and provide first-loss capital. From this they receive a portion of the interest accrued. Liquidity providers add liquidity to the senior tranche and receive a portion of the interest (supply-side revenue).

Goldfinch is a non-custodial lending protocol built on Ethereum offering undercollateralized loans for verified borrowers. Goldfinch was founded by Blake West and Michael Sall and launched in 2020.

 GFI token holders own and govern the protocol. They currently take a cut of the interest and a withdrawal fee (protocol revenue). Goldfinch’s investors include a16z, Coinbase ventures, Kindred ventures etc.

Goldfinch

Liquidity providers deposit funds into Harvest Finance and receive a return on investment (supply-side revenue).

Harvest Finance is an asset management protocol built on Ethereum. Harvest Finance was founded by an anonymous team and launched in 2020.

 FARM tokenholders own and govern the protocol. They currently do not take a cut of the total return on investment paid by liquidity providers (protocol revenue).

Harvest Finance

Hotspots offer wireless coverage and validators process transactions. Hotspots & validators receive inflationary rewards.

Helium is a distributed ledger for value transfer & wireless coverage (a blockchain). Helium was founded by Shawn Fanning, Amir Haleem & Sean Carey and launched in 2019.

HNT holders own and govern the protocol. They currently take all of the total data transfer and transaction fees paid by users (protocol revenue). Helium’s investors include a16z, Multicoin Capital, Alameda Research, etc.

Helium

Lenders (Iron Bank) deposit funds into Alpha Homora and receive interest payments from borrowers (supply-side revenue). We are currently only tracking Alpha Homora V2.

 Alpha Homora is a non-custodial protocol for leveraged yield farming by Alpha Finance built on Ethereum and other blockchains. Alpha Finance was founded by Tascha Punyaneramitdee & Nipun Pitimanaaree and launched in 2017.

ALPHA tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (protocol revenue). The Alpha Finance's investors include Multicoin Capital, Spartan Group, DeFiance Capital, etc.

Homora

Liquidity providers deposit funds into HurricaneSwap and receive trading fees from traders (supply-side revenue).

HurricaneSwap is an automated market-making (AMM) decentralized exchange (DEX) on the Avalanche network. HurricaneSwap was launched in February 2021.

HCT tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (protocol revenue).