5 Ethereum DeFi Apps Revolutionizing Saving

What are DeFi apps?

DeFi is an umbrella term for a large and growing number of apps built on Ethereum. Key features include:

  • open-source, (anyone can check the and contribute to the codebase)
  • inclusive (anyone can use them, regardless of race/age/gender/nationality/sexual orientation)
  • non-custodial (you have ownership of your funds at all times, you do not need to trust a third party)

1: Start Earning Interest in Just 3 Taps using Argent and Compound

With the Argent’s mobile wallet you can easily buy and earn interest on Dai while keeping control of your funds the at all times. You’ll also get a free ENS name, a human-friendly Ethereum address (yourname.xyz.eth), and Argent lets users send funds over the Ethereum network for free.

  1. Download Argent wallet on Android or iOS
  2. Buy Dai directly with your local currency.
  3. Navigate to finances and press ‘Grow Your Holdings’.

2: Watch Your Interest Increase by the Second With Maker’s Oasis

Maker (the organisation that produced and maintains the Dai stablecoin) also provide a suite of tools with their Oasis app. It’s simple to use, you can connect directly through Argent, or download the MetaMask app or browser extension .

  • Navigate to https://oasis.app/
  • Connect your MetaMask wallet
  • Hit ‘Save’, ‘deploy proxy’, and confirm the MetaMask popup.
  • Select how much to deposit and sign the MetaMask transaction

3. Participate in a Weekly No Cost Lottery with PoolTogether

4. Directly Donate Your Interest to Plant Trees with rTrees

5. Use DeFiZap to Earn Interest on Dai Without Losing Ether Exposure

Conclusion

DeFi is growing at an exponential rate, with projects launching on a weekly basis. What’s so exciting is just how easy these apps are to use. With a MetaMask wallet and some Ether, anyone anywhere can participate in this emergent revolutionary technology with just a couple of clicks or taps.

  • When using DeFi and cryptocurrencies in general you are entirely responsible for your money. If you make a mistake, for example by sending your money to the wrong address, nobody can help you recover it. Check, check, and check again.
  • If you lose the key to your wallet, you have also lost your funds. Back up and use multiple devices.
  • This is very new and experimental technology. We can’t completely rule out an unforeseen bug or vulnerability that could cause you to lose your funds, even after code has been audited. Be aware of this risk before participating.

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Nushi

Nushi

Winter Bears Founder, covering Ethereum/DeFi/NFTs/DAOs