Top DeFi Platforms By Development Activity Revealed By Santiment

Santiment, a crypto data provider, has recently revealed the top DeFi platforms in July, if one looks at the development activity in particular. This list includes big names like Synthetix, Maker, Auger, and Band Protocol.

Showing Top ERC-20 Projects By Development

However, Santiment further revealed that some of the listed platforms saw the largest gains in price and locked collateral in recent times, as well. These platforms, however, did not have as much developer activity, comparably, but include big names like Aave, Compound, Yearn Finance, and Balancer.

The report itself focused on the top ERC-20 projects within the crypto space, not DeFi projects exclusively. The criteria for this report was the highest records regarding developer action. Santiment measured these projects on its own ranking system called Sanbase. Development activity is defined by Santiment as a commitment to the development of a working product on a month-to-month basis. This project must have features being continuously upgraded and polished, all the while staying true to the long-term roadmap already established. Within this listing, the top three ERC-20 projects are as follows: Gnosis, Status, and Aragon.

First DeFi Project Listed At 4th Place

Maker managed to stand as 4th on the list of ERC-20 projects, and stands as the top-rated DeFi platform of the month. This is due to a number of governance proposals being passed, with the voting portal itself being upgraded. Alongside this, oracle feeds, and new tokens altogether were onboarded on the project.

Synthetix stands second place regarding DeFi projects, as it achieved several development milestones within July. At the same time, it continuously works towards improving the platform as it prepares to completely refresh its branding. Synthetix even managed to update its roadmap, showing several improvements dedicated to occur within this year’s second half. Alongside this, Synthetix is actively moving towards a decentralized governance system.

Massive Developments In the DeFi Boom

Alongside this, Band Protocol, a cross-chain oracle platform, had its BAND token approved this week to be listed on Coinbase Pro. In terms of DeFi projects on the listing, it comes in third place within Santiment’s listing. The protocol has managed to improve incentive systems, as well as upgrading its oracle scripts. These oracle script upgrades, in turn, have seen Band Protocol gain traction in a range of key partnerships, as well.

The fourth DeFi on the list is Auger, which managed to launch its platform upgrade and v2 smart contracts in late July. According to the research given, this allows Augur to stay within the top ten. The last protocol within the list is none other than Keep Protocol, which secures blockchain data to allow interoperability across the industry at large.