Our traditional finance system cannot operate itself without a central authority like banks or brokerage firms thus it is not easily accessible to everyone. Decentralized Finance DeFi aims to make financial services available for everyone through blockchain technology. It removes the intermediaries or middlemen because all the operations are conducted autonomously with the help of smart contracts.

The traditional finance system is the one that has the power because it is the one that handles your money including your savings, investments, etc.

DeFi on the other hand has democratized the whole system by designing a peer-to-peer network.

Not only can you borrow or lend your crypto but you can also trade crypto without any middlemen or exchange. Different DeFi protocols even allow you to have an interest in your crypto holdings.

10 Best DeFi Projects

There are many DeFi projects but the 10 best DeFi projects for 2024-2025 are as follows.

1. Uniswap(UNI)

Price: $11

Market Cap: $8.4B

Uniswap is the biggest player in decentralized finance and the largest decentralized exchange with a TVL ( Total Value Locked) of $7 billion worth of crypto in its pool. The liquidity providers (LPs) on depositing funds get rewards that are collectible from traders as trading fees.

All of its pools are made of two tokens and one is usually stablecoin to help reduce some risk of loss. The price of the pool is set by a special algorithm that implements these prices based on the demand and supply of the cryptos

Uniswap was first introduced on Ethereum in 2018 but now ten other chains including BNB, Avalanche, Polygon, and Arbitrim also support its latest version. Whereas all transactions are public and can be seen on the Ethereum blockchain.

2. THORChain (RUNE)

Price: $7.5

Market Cap: $2.4B

The inception of the Thorchain pushed the boundaries of DeFi as it eliminated the need for wrapped tokens and central authority figures to trade cryptocurrencies across different blockchain networks. The absence of both minimizes additional fees.

Since Thorchain has removed the biggest hurdle, that is cross-chain swap therefore it is characterized as a high-value DeFi project of 2024-2025

Before Thorchain, DeFi projects like Uniswap were only limited to one blockchain. With Thorchain, you scan and swap different cryptocurrencies easily. For example, you can swap Ethereum for Binance or any of the other tokens that are supported by Thorchain.

Just like Uniswap, Thorchain also makes use of liquidity pools where liquidity providers get rewards from the trading fees.

RUNE is the utility token of Thorchain which is also used to incentivize LPs and to secure the network.

3. Lido DAO (LDO) 

Price: $2.5

Market Cap: $2.2B

If you do not want to handle the technical stuff of running a validator node and want to stake and earn rewards on crypto then Lido DAO is the best you can have.

It is one of the strongest platforms that have made liquid staking much easier. Traditional staking requires you to lock your Crypto assets for certain periods for the validation process. Whereas Lido DAO offers liquid staking. That means on depositing your crypto assets, you are granted governance rights within the platform itself which gives you the power of the vote on different proposals. 

However, your voting power depends upon the quantity of LDO you have, which is the native token of Lido DAO. Also, the Lido DAO runs on Ethereum blockchain and it has plans to expand itself to other blockchains as well.

You can freely trade these tokens on different exchanges which represent your staking rewards in addition to the original deposit.

4. Jupiter (JUP) 

Price: $1.3

Market Cap: $1.8B

Jupiter (JUP) is another remarkable DeFi project which acts like a decentralised exchange aggregator, i.e., A one-stop shop to check all the exchanges. Jupiter is built on the Solana network that scours through different DEXes that are built on the Solana blockchain and offers the most cost-effective and efficient way through which you can swap your Cryptocurrency.

It saves you a lot of time because by using Jupiter you can save yourself from visiting different exchanges to check who is giving the best swap deal!

Another one of its great features is that you will have access to advanced features like limit orders to have more control.

Jupiter equips the traders to make better trading strategies and decreases the transaction fees because it acts as a comparator tool for transferring tokens from different blockchains to Solana.

5. Ribbon Finance (RBN)

Price: $1.6

Market Cap: $1.5B

Ribbon Finance is not like your usual DeFi platform where you can only swap or lend cryptocurrencies. At Ribbon you have access to investment strategies that combine different financial tools like futures. These strategies are called structured crypto products which help you achieve specific goals. 

Ribbon Finance provides relief to those who do not know how to build such investment strategies or just do not want to spend time on creating one. Ribbon Finance also allows you to earn profit on your holdings. However, you are restricted from potential gains and also from potential price drops which somehow balances the equation.

RBN is the token of Ribbon Finance whereas RBN has two uses. It can be used as a governance token through which you will have the power to vote on different prospects. Also, a fixed portion of the protocol fees is distributed among the stakeholders for incentivizing them.

6. dYdX (DYDX) 

Price: $2.9

Market Cap: $1.4B

dYdX is a layer 2 protocol that is built on an existing blockchain system. dYdX is a framework that makes its blockchain more efficient and also increases the transaction speed. 

It has a user-friendly interface because its ecosystem revolves around rewards, staking, and governance power.

All of its staking contracts and rewards are held in epochs. Each epoch is based on 28- days, which renews itself after the expiry. At the end of this period, rewards for trading and for providing liquidity are given which can be claimed within the next seven days. 

7. Aave (AAVE)

Price: $117

Market Cap: $1.7B

Aave (AAVE) is yet another entry in the Defi products that runs on the Ethereum blockchain which is a system based on smart contracts where all the assets are run by a system of distributed network thus eliminating the need for a middleman.

Here users can lend and borrow crypto just like they would in a traditional bank but the catch is having no intermediaries. The only thing they need is a trusted code that should execute properly.

In Aave you can get interest on your crypto holdings whereas borrowers can get crypto loans against their crypto collateral. For complex crypto maneuvers, Aave also offers flash loans for short terms.

At Aave, lending pools are created that support 17 different cryptocurrencies. However, the value of cryptos can fluctuate for several reasons. 

AAVE is the token provided at Aave that gives governance power to vote on the protocols that affect the future of this platform.

8. Synthetix (SNX) 

Price: $3.9

Market Cap: $1.3B

Through Synthetix you can trade digital versions of real-world assets like gold, stocks, and different fiat currencies along with cryptocurrencies. This trade happens through Synths that are used to track the value of any asset.

Synthetix brings new possibilities to the DeFi space because, unlike traditional exchanges where you have to directly purchase or sell assets, Synthetix allows you to trade anything without the need of holding the asset itself.

However, to create Synths you are required to lock a greater amount of crypto as collateral than the amount of Synth you want to create for risk handling.

SNX is the token for Synthetix which gives you governance for voting and for using them as stakes for creating new Synths and to earn rewards on Kwenta, the decentralised exchange of synthetix.

9. PancakeSwap (CAKE)

Price: $3.9

Market Cap: $966M

PancakeSwap, with a native token called CAKE, is a decentralized crypto exchange that runs and operates without a governing authority. Instead, it uses AMM (Automated Market Maker) which means it utilizes smart contracts for operations. Unlike Uniswap, it is built on a BNB smart chain which makes it more economical and faster than Uniswap. 

PancakeSwap does not require any account. You only need to have a crypto wallet through which you either swap tokens or stake them while PanCakeSwap uses your tokens and gives you rewards in exchange.

The main features of PanCakeSwap are trade, earn, and win. We already know that you can directly trade from your crypto wallet and earn rewards for depositing cryptos in its liquidity pools 

You can also participate in lotteries and other trading competitions through which you can earn prizes as cryptos.

You can also sell and purchase NFTs through a dedicated marketplace for NFTs within PancakeSwap.

10. Curve DAO Token (CRV)

Price: $0.6

Market Cap: $730M

Curve DAO Token is an Ethereum-based DeFi project that boosts a decentralized exchange Curve.fi. Curve.fi is a blockchain-based exchange and uses AMM. As compared to other DeFi projects it is a relatively new project but has gain massive success because of lower fees and lower slippage for exchanging ERV-20 tokens and similar stablecoins.

Since Curve is Ethereum based that means it works on smart contracts where users are given the best ways to exchange the tokens. 

Its governance token is CRV which gives voting rights to its participants.CRV tokens are given as rewards to provide liquidity to stable coin pools. You can also stake CRV and earn a share of trading fees.

Wrap Up

Decentralized finance system has revolutionized the way we used to trade. In the traditional finance system, we cannot do anything without a middleman. DeFi projects have eliminated the need for intermediaries and have made the whole process streamlined. In this guide, we have listed 10 Best Decentralized Finance (DeFi) Crypto Projects for 2024-2025. Go through them and when you shortlist one for yourself then make sure you do your research and a complete one at that because it’s a world of rollercoasters!