The digital currency ecosystem has continued on its upward evolution path, a trend that has seen the development of key offshoots of the industry, including decentralized finance (DeFi). Over the past year, DeFi protocols have gained increased popularity in part for what they bring to the table, that is, offerings that take the competition directly to banks and financial institutions. These offerings include savings with the ability to earn interest, lending, and other customized products through which users can earn passive incomes. The latter offerings include but are not limited to farming, liquidity provision, and staking.
At the heart of every DeFi platform is a utility token. These tokens serve a wide variety of functions which depends a great deal on the platform’s design. Some of the functions a DeFi token may serve include payment of fees, and for the payout of rewards respectively. Based on their nature, and the impact of their utility, chances are that the prices and valuation of DeFi tokens grow over time. Many DeFi tokens are currently showing the propensity to grow or continue on their growth path for the rest of this year, hence the need for this article. Below, we would look into the top 5 DeFi tokens everyone should invest in before the year runs out.
Nominex (NMX)
NMX Token is the native utility digital asset of the Nominex cryptocurrency exchange. The trading platform is renowned for many innovative product offerings including the merger of both centralized and decentralized exchange features on one platform. The NMX token has further made the platform a delight of DeFi enthusiasts based on the advanced farming capabilities designed around it.
