5 Decentralized Exchange Tokens To Watch In December 2021

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CryptoMode DeFi Watchlist Decentralized Exchange Tokens

Although there are many crypto tokens and assets to invest in, infrastructure projects offer significant results. More specifically, decentralized exchange tokens are booming lately. However, that list may not include the assets one would expect at first. 

DeversiFi (DVF) 

DeversiFi is one of the up-and-coming decentralized exchanges that aims to help users achieve the maximum potential in DeFi. Users can explore various decentralized opportunities on Ethereum, including investment, trading, and token sending opportunities. For example, DVF, the native token, can be staked to earn xDVF, the governance token, and the fee revenue distribution asset. It appears speculators seek exposure to DVF, resulting in a 348% price increase in November 2021. 

Loopring (LRC)

Most crypto enthusiasts will be familiar with Loopring, as the project has been around for some time. The zkRollup protocol introduces scalability, secure exchanges, and payments to Ethereum in a non-custodial manner. LRC is the native token and lets users pay fees. It also incentivizes positive behavior by liquidity providers, insurers, and DAO governors, while providing governance rights. November 2021 yielded a 342% price increase for LRC, which is rather substantial. 

BabySwap (BABY)

BabySwap positions itself as the best Automated Market Maker and NFT decentralized exchange for new projects on the Binance Smart Chain. Moreover, the platform is about trading cryptocurrency and provides farming options, liquidity pools, and IDO support, among other things. Users can stake BABY for rewards, and it is a reward for providing liquidity to ILOs. A monthly price increase of 292% is impressive for decentralized exchange tokens, even if the project’s market cap remains well below $200 million. 

IDEX (IDEX)

IDEX is a high-throughput decentralized exchange focused on hybrid liquidity. More specifically, it sued AMM features combined with an order book to prevent failed transactions, front-running, and account requirements. As a result, users can benefit from zero spread and deep liquidity while using advanced order types. In addition, IDEX can be staked to earn 50% of trade fees and strengthen the exchange trading engine. This month’s 58% price increase is significant, confirming demand for decentralized exchange tokens. 

Deri Protocol (DERI)

The last of the top rising decentralized exchange tokens last month is DERI, the native asset of Deri Protocol. As a platform supporting perpetual futures and everlasting options mixed with DeFi elements, Deri Protocol offers some interesting opportunities. Users can hedge, speculate, explore arbitrage options, and much more. The DERI token provides governance opportunities and is subject to buybacks through transaction fee profits by the protocol. Additionally, it gives privileges on the platform, which may explain the 66% price increase. 

Source: CryptoRank


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