Over the last few months I've dabbled small amounts across various Layer 1 blockchains. I've set out a comparison below in case helpful for anyone new to the defi space. If anyone has any feedback or criticisms feel free to share!
Please keep in mind these are my views only and others may have different experiences.
Avax is next on my list!
|Chain||Fees*||TVL (1 Nov 21 – DefiLlama)||Maturity of ecosystem||Blue chip plays||Comments and notes|
|Eth||$250 – 600||$164bn||Very mature||Curve, Aave, Convex, Compound, Yfi||Safest and most secure ecosystem. Worth it if you're investing big bucks|
|BSC||$2 – 4||$19.25bn||Mature||Pancakeswap, Venus, Beefy, Autofarm||Too many scams. PCS is great though|
|Sol||$0.02||$12.68bn||Few months old but many different dApps||Serum, Raydium, Saber, Marinade||Quick and cheap. Large NFT market. Institutional backing. What ADA should have been.|
|Terra||$1 – 3||$9.88bn||Few months old but many different dApps||Anchor, Mirror||Different to other L1s – ecosystem is built on UST so opportunity for "no-loss" investments and delta-neutral yield strategies. My favorite ecosystem.|
|Ftm||$1 – 3||$5.68bn||Few months old but many different dApps||Geist, Spooky, Spirit, Scream, Abracadabra||Made for degens. Opportunities for enormous yield. Fav picks right now are Tomb and Abracadabra.|
|Matic||$0.02||$4.98bn||Mature||Aave, Quickswap, Sushi||Well-developed ecosystem. Growing NFT marketplace. Had great yield back in May but has calmed down since then.|
|Celo||<$0.01||$1.05bn||Few months old and a few dApps||Moola, Mobius, Ube, Sushi||Does anyone even use this? Great stablecoin pairings (mcUSD / mcEUR) to earn yield with no crypto exposure|
|One||<$0.01||$319m||Fairly new||DefiKingdoms, Sushi||Carried by DFK's success. Enormous APRs at the moment, just launched first money market (Tranquil).|
|Tezos||$0.02||$147m||Fairly new||Plenty, Youves||Needs more defi options – TVL has been dropping over past few weeks. Growing NFT marketplace with celebrity support.|
|Algo||<$0.01||$76m||Very new – no real dex at this stage||Yieldly, Tinyman||Up and coming! So far Tinyman is the only dex that allows swaps but no token released yet (potential airdrop)|
*Example cost to carry out: (1) one swap; (2) provide liquidity; (3) approve contract; and (4) stake LP tokens.