Top 8 DeFi tools to boost your investments in 2022 (2024)

Disclaimer: The information shared is for educational purposes only. While AMBCrypto might be compensated for any links shared herein, that does not affect our writers’ evaluations in any way.

Long gone are the days when centralized institutions such as banks were the yardstick for the entire economic system. Today, the world is full of opportunities, experiments, reformations, and evolution. Hence, a revolution in the financial ecosystem became necessary, giving rise to DeFi or Decentralized Finance.

Similar to cryptocurrencies, DeFi is an emerging and innovative financial technology integrated with secure distributed ledgers. In simple words, DeFi is an alternative to the traditional finance payment ecosystem. It offers investors/traders various financial instruments using smart contracts and blockchain without any interference from intermediaries, such as banks, loans, brokerage, etc.

Since many users are new in the space, the concept of DeFi becomes very overwhelming and constantly tracking various investments seems non-viable. To avoid such complications, various DeFi tools are used to help users streamline their research and investments.

Today, we will take you through 8 different DeFi tools for an effortless yet efficient DeFi experience –

Metamask

Metamask is one of the most trusted DeFi tools in the decentralized ecosystem. Although Metamask is known for serving as a crypto-wallet, the browser extension makes it stand out from the rest. The wallet works with multiple web browsers, including Chrome, Brave, Microsoft Edge, and Firefox.

Metamask enables users to engage with the entire Ethereum ecosystem and its various decentralized application (DApps). Additionally, it supports the Ethereum blockchain and ERC-721 token (used for NFTs). Its easy-to-use technology helps users to connect their Metamask wallet with multiple decentralized exchanges (DEX).

Integrated with some key features, including digital asset management, swaps, security, easy installation, and 24*7 customer support, Metamask is a free-to-use DeFi tool. In short, Metamask is an innovative and easy-to-decipher DeFi tool ensuring interoperability between different DeFi platforms.

DappRadar

DappRadar, a Lithuania-based DeFi tool, is known for providing insights for over 3,000 Dapps. The start-up also plans on incorporating as many DeFi components as possible and expanding the spectrum of the platform. Some of its key features include a DappRadar portfolio, token explorer, NFTs, Token swap, and various airdrops.

Amidst such features, DappRadar’s main advantage includes facilitating data analysis for users and developers. The latter enables users to make well-informed decisions regarding DApps. DappRadar comes in handy for developers keen on researching and discovering DApps, while users can become consumers by picking up their data from this DeFi tool.

CoinBase Wallet

Do not confuse Coinbase Wallet with the popular cryptocurrency exchange, Coinbase. Coinbase Wallet is a DApp browser and a multi-coin Ethereum-based wallet. It enables users to safely store and exchange various cryptocurrency funds and other digital assets without creating an account on Coinbase.

Users using Coinbase Wallet have complete control over the wallet, full access to private keys, and the perks of receiving interest on their cryptocurrency funds. It serves as a doorway for DApps built on Ethereum, like DEX and other DeFi services, and provides an easy-to-use interface for all.

Dune Analytics

Dune Analytics has come in as a solution for blockchain analysis. Using Dune Analytics, users can simply create custom queries to view data from a blockchain. The former applies SQL for queries and enables the search results to be visualized on the dashboard.

There are various templates available for the user to create their queries. Moreover, this DeFi tool allows users to extract and analyze data from Ethereum, Polygon, Optimistic, and xDai for free. Visualization is the main component of Dune Analytics. However, users can only run three queries at a time on the free version.

Zerion

Zerion is the duo-solution DeFi toolkit allowing users to manage and expand their entire DeFi portfolio from one location pin. Various tools like blue chips and indices enable users to move assets between chains, trade DeFi tokens, and display their NFT collections.

It supports various networks such as Polygon, Optimism, Arbitrum, and BSC and combines all major DEX and Layer 2 blockchains with zero commissions. The user-friendly interface of the platform makes it easier for users to manage NFTs and pools, among other parts of their portfolio.

Additionally, the time-effective feature of the platform allows owners of NFT devices to visualize the widgets of their favorite artwork and collectibles using their iPhones or Apple Watches and quickly transmit them to people.

DeFi Saver

DeFi Saver is a user-friendly platform enabling users to manage their funds seamlessly. It’s a DeFi tool allowing investors/traders to easily manage all aspects of DeFi investments, including staking funds, changing lending protocols, creating custom transactions, or refinancing DeFi loans.

The ability to create custom recipes for crypto-transactions, a loan shifter and a simple interface for managing different platforms and assets are some of the key features of this DeFi tool. Additionally, the simulation module of the tool is known to be very useful for new investors in the space.

Orion Protocol

Orion Protocol is a gateway to the crypto-market. It acts as a single entry point for a majority of crypto-demands by being a multi-service provider. Providing users with various benefits, Orion is known for trading, staking, and bridge services. Other features, including a development kit, an NFT aggregator, and the ORN coin, are the ones that underpin the entire network.

The tool is compatible with both centralized and decentralized exchanges.Its sole focus is on customers benefiting from the best rates and no complications during usage. Additionally, the platform also provides trading tools for market analysis, for users to avail numerous opportunities without having multiple accounts.

1inch

1inch is a DEX aggregator with numerous cutting-edge protocols for users to experience pocket-friendly, speedy and secure transactions. There are 3 major components that make 1inch stand out from the rest.

Firstly, the 1inch aggregation protocol offers inexpensive and secure swap transactions across multiple liquidity sources. Secondly, its next-generation AMM (automated market maker) liquidity protocol safeguards users from front-running attacks, offering attractive opportunities to liquidity providers. Lastly, the limit order protocol of 1inch facilitates unique and flexible limit order swap opportunities in DeFi.

The platform supports Ethereum, Polygon, Binance Smart Chain, Optimistic Ethereum, Avalanche, Arbitrum, and Gnosis Chain. Additionally, 1inch wallet, the multichain mobile platform offers users a simple interface with secure storing, transaction, and staking capabilities.

Closing thoughts

With the evolution of cryptocurrencies and the inception of decentralized finance, it becomes important for investors to be aware of the crypto-space. Every investor in the space has a unique purpose and thus, choosing a DeFi tool that best suits their needs becomes crucial.

DeFi tool is the most viable solution for users to pay attention to the rapid market changes and to track real-time insights into their assets. Since all the aforementioned DeFi tool do not support all protocols, DeFi tokens, or platforms, the differences in choices become a part of the DeFi ecosystem.

Thus, making an appropriate choice among so many DeFi tools that suits variant needs will help users boost their DeFi investments to a whole new level.