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DeFi tokens to invest in: Avalanche (AVAX), Chainlink (LINK) and Logarithmic Finance (LOG)

The DeFi industry took the world by storm last year, increasing its total value locked (TVL) from $25 billion in November 2020 to a value of over $100 billion in August 2021, demonstrating the future potential of this burgeoning industry.

The likes of Avalanche (AVAX) and Chainlink (LINK) are among the top DeFi tokens in the cryptocurrency industry today and the introduction of Logarithmic Finance (LOG) adds another potential high-performing DeFi token within the space.

Avalanche (AVAX)

As the second biggest DeFi token in the crypto industry according to market cap, Avalanche (AVAX) is a blockchain platform that deploys smart contracts to support blockchain projects.

Rivalling the Ethereum network, Avalanche, which was launched in September 2020, has been labelled as one of the “Ethereum killers” alongside the likes of Solana (SOL), Cardano (ADA) and Polkadot (DOT) because of their fast transaction speed and its dedication of scalability.

Avalanche’s native currency AVAX is used to not only secure the Avalanche blockchain but to also pay transaction fees across the network.

Its transaction processing speed is a key aspect of Avalanche’s success with the blockchain able to reportedly process 4,500 transactions per second.

Anybody has the opportunity to view and also contribute to the code of Avalanche due to it being an open-source project.

While the Avalanche transaction fee itself is low, Avalanche users are able to vote on how much the transaction fee is.

Currently trading at $67.56, Avalanche is the 10th biggest cryptocurrency in the world, according to data from CoinMarketCap and is up 0.4% in the last hour, at this time of writing.

The altcoin last hit its all-time high of $144.96 in November 2021.

Chainlink (LINK)

As the 24th biggest cryptocurrency in the world, according to data from CoinMarketCap, Chainlink (LINK) is also the fifth-biggest DeFi token in the crypto space.

Launched in 2017, Chainlink is a decentralised blockchain that is used to interact with off-chain data feeds.

The secure interaction between blockchains regarding external data and payment methods enables smart contracts to gain the off-chain information needed to become the most common type of digital contract.

Chainlink's (LINK) cryptocurrency is awarded to nodes when they follow the rules of the software as well as provide useful data.

LINK is currently trading at $13.07 and it’s up 2.8% in the past seven days.

LINK hit its-all time high of $52.70 in May 2021, right in the middle of the 2021 altcoin boom.

Logarithmic Finance (LOG)

A layer-III swapping protocol that strives to become the next step in decentralised finance, Logarithmic Finance (LOG) founded in October 2021, will enable the interaction between early-stage blockchain innovators and investors.

Built on Ethereum (ETH) LOG is a secure, cross-chain environment that aims to integrate with several blockchains including Binance Smart Chain (BSC), Solana (SOL), Polygon (MATIC), Avalanche (AVAX) and Tezos (XTZ).

Logarithmic Finance aims to make its ecosystem interoperable and accessible to all with holders of its utility LOG eligible for various benefits including staking rewards, governance rights and better swap ratios.

With the pre-listing of the LOG sale to come in Q1 of 2022, the price of each LOG token has been locked at $0.10 for the crowd sale.

Despite the maximum token supply for LOG being set at 100 million, only 50 million LOG tokens will be available for purchase in the sale.

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This article does not necessarily reflect the opinions of the editors or management of EconoTimes

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