According to Coinmarketcap, there are 521 DeFi cryptos out there, but I am almost sure this number is a lot higher. In my opinion, decentralized finance is the most down-to-earth sector of crypto as it actually solves a real problem we are facing: it cuts the middleman when it comes to anything financial related so you no longer need to rely on banks and institutions that have virtually complete control over your funds. Transactions are peer-to-peer and use smart contracts for increased security.
With so many options out there, I want to test as many of these apps as possible and give an honest review whether I think it’s worth using or not. As my list will increase, I will make sure to highlight my best experiences.
My main goal is to see how apps behave in different chains, which chain is best suited for DeFi at the moment, and which projects add extra value compared to their competition.
Even though there are a lot of functions provided by these apps, most people use them to generate passive income through methods like staking, lending, and yield farming. I will also test this by seeing how well the app integrates with different wallets and how good the rates are.
All in all, expect to receive comprehensive and honest reviews from me, as I will be testing and describing how you can best use the app and how good the experience was.
With so much shilling and extreme claims, I hope this down-to-earth project will benefit the crypto community and will help the best protocols thrive, as well as shed some light on possible scams or shady schemes.