What is the DeFi coin?

Uniswap is a decentralized exchange that facilitates the trading of DeFi coins and other cryptocurrencies without the need for a central authority. Aave is a lending and borrowing platform that offers a variety of financial products powered by blockchain technology. Chainlink, on the other hand, is a decentralized oracle network that connects smart contracts with real-world data.

A DeFi coin operates similarly to a digital representation of a fiat currency. It serves as a medium to transfer value during financial transactions. Unlike traditional fiat currencies, however, DeFi coins are powered by blockchain technology.

Ankr is a blockchain infrastructure provider that offers node deployment services for various blockchain networks. It also has its own native token, ANKR, which is used to incentivize users to participate in the network's staking and validation processes.

These digital coins are not only backed by blockchain networks but are also often named after them. Each DeFi coin is unique and is associated with its native blockchain ecosystem. These blockchain networks provide the underlying infrastructure for the coin's operation and security.

In the spring of 2021, several DeFi coins emerged as popular choices among investors and traders. Maker, for instance, is a decentralized lending platform that issues a stablecoin called Dai. Compound is another lending protocol that allows users to earn interest on their cryptocurrencies.