If you were put into a freezer in 2017 and woke up this week to check CoinMarketCap – you might have thought the crazy crypto bull market was still going on based on some of the daily returns projects within the DeFi space were putting up. While Bitcoin was down this week, most of the popular open finance protocols had double digit gains. In today’s daily, I wanted to take some time to dive into the top three performers from the sector this week and hopefully provide some context for why they outperformed their peers.
Aave – LEND up ~65% this week
First up, we have the new (rebranded) kid on the block: Aave. I covered Aave in my previous Delphi Daily titled “Aave Continues To Innovate”. As a refresher, London based Aave is a non-custodial protocol that lets users either earn interest on deposits or borrow digital assets. It just launched in January but has gained quite a bit of traction since then (as you can see above). Aave’s in