Highlighting Some of the Best DeFi Avalanche Projects

4 min readNov 2, 2022

Hundreds of projects are being developed on Avalanche. Based on Polygon’s success, we all know how incentive programs motivate developers to build projects on the platform and attract additional users. But what are the finest projects in this ecosystem among the seemingly unlimited number of competing projects?

Without further ado, let’s go ahead and explore some of the top Avalanche DeFi Projects in the Ecosystem:

1. BenQi

BenQi is a protocol for the money market that enables users to lend, borrow, and earn interest with digital assets. BenQi is a vital project in the Avalanche ecosystem since Ava Labs, the corporation that founded Avalanche, has invested in the project.

2. NeoFi:

NeoFi is a crypto-investment solution meant to enable large-scale investors automatically diversify their investment portfolio and risks. NeoFi uses NeoFi baskets to enable investors to invest with a single click in their selected niche.

This project is attempting to onboard the next billion cryptocurrency users. The organization believes its efforts will alter the world of cryptocurrencies and level the playing field by providing more tools to retail investors. Visit https://neofi.co/ to learn more about the project.

3. Trader Joe

Trader Joe is another platform in the Avalanche DeFi Ecosystem. The platform is a decentralized exchange that claims to be an all-inclusive Avalanche trading platform. The platform’s trading volume ranks among the top 10 DEXs on Coingecko.

Any user of Trader Joe can become a liquidity provider and be compensated with $JOE, its native cryptocurrency. If more people desire to exchange tokens on Trader Joe, there will be more transactions, and the pay for liquidity providers will increase.

4. Pangolin

Pangolin is a popular premium DEX on Avalanche created by Ava labs and offers rapid transactions and minimal fees. In addition to being a quick and inexpensive DEX, Pangolin is a community-driven project. This indicates that holders of its native token, $PNG, can vote on essential protocol decisions.

According to its Roadmap, Pangolin features one of the earliest fiat onramps where consumers can purchase AVAX with a credit card or Apple Pay. In addition, it aims to resolve the impermanent loss (IL) issue.

In addition, Pangolin has announced a massive tokenomics makeover. This will result in a 57% reduction in the maximum $PNG supply, implementing a more strategic emissions schedule, and adding deflationary properties to the $PNG coin.

However, introducing deflationary tokenomics is one of the significant occurrences surrounding Pangolin that we should keep an eye on.

5. YieldYak:

YieldYak is a community-driven project in which the community has constructed and maintained one of the best, most affordable, and most diverse auto-compounders.

This DeFi platform enables automatic auto-compounding instead of periodically re-staking your assets to obtain the highest APY.

As an independent platform, the community recommends news methods and updates. Auto-compounding is the most noteworthy feature of the project. This implies that the farms compound every few minutes or hours, reducing reward asset price volatility.

A blended or averaged price exposure reduces the risk of price volatility. As staking rewards, you obtain $mYAK tokens that can be used for farming and more.

6. Kalao:

Kalao (KLO) is a decentralized finance (DeFi) and non-fungible token (NFT) integrated ecosystem developed on the Avalanche blockchain technology. It offers a mobile-friendly environment with an easy-to-use AVAX-based decentralized exchange (DEX) for collectibles and wallet integration and staking possibilities.

The primary objective of Kalao (KLO) is to accelerate the operation of VR technology and construct virtual worlds to help the global digital transformation of enterprises. This platform focuses on accomplishing all this via a low-cost and user-friendly marketplace powered by Avalanche blockchain technology and incorporating VR technology.

7. Snowball:

Last but not least, Snowball is the first auto-compounder and stablecoin AMM on the Avalanche platform. Similar to YieldYak, SnowBall automatically re-stakes your assets to obtain the highest APY.

There are other auto-compounders available, but Snowball appears to be the best option because there are no gas fees.

Avalanche Overview:

Today, Avalanche is one of the market’s most rapidly expanding ecosystems. There are dozens of Avalanche-native projects, but Ethereum-native projects have been migrating to Avalanche due to Avalanche’s superior scalability.

Together, they are forming an ecosystem that rapidly offers the latest and greatest blockchain and cryptocurrency application cases. Although Avalanche is still in its infancy, all the components are in place to ensure that people adhere to the breakthrough methodology. Our favorite work on this list serves as such pillars.

Which is your preferred?