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Sep 19, 2022 9:34 p.m
Developers create governance tokens so token holders can participate in shaping the future of a protocol. Basically, these tokens give the holders certain rights to influence the direction of a protocol, e.g. B. Proposing new features, deciding on proposals for new features, changing the governance system, using a budget and much more. Let’s take a look at the 10 largest governance cryptocurrencies.
The 10 largest governance cryptocurrencies
We used the market capitalization (as of September 16, 2022) of governance tokens from coinmarketcap.com to rank the top 10 governance cryptocurrencies.
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yearn.finance (YFI)
Launched in 2020, it is an aggregator service for DeFi (decentralized finance) investors that uses automation to enable investors to maximize their profits from yield farming. YFI is down over 76% year to date but is up almost 95% over the past 90 days.
As of this writing, YFI is trading at $8,660.60, which is a market cap of more than $310 million. It has an all-time high of $93,435.53 (May 2021) and an all-time low of $739.44 (July 2020).
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Kyber Network Crystal v2 (KNC)
This crypto gathers liquidity from multiple sources to offer secure and fast transactions on any DApp (decentralized application). KNC is up nearly 39% year-to-date and over 54% in the last 90 days.
As of this writing, KNC is trading at $1.95, giving it a market cap of more than $330 million. It has an all-time high of $5.72 (April 2022) and an all-time low of $1.12 (June 2022).
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dash
Launched in 2014, this crypto focuses on providing a fast, cheap global payment network. It was launched as a fork of Litecoin (LTC). DASH is down over 68% year to date but is up over 6% over the past 90 days.
As of this writing, DASH is trading at $43.88, which represents a market cap of more than $470 million. It has an all-time high of $1,642.22 (December 2017) and an all-time low of $0.2139 (February 2014).
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Curve DAO Token (CRV)
Launched in 2020, it is a decentralized exchange for stablecoins that uses an AMM (Automated Market Maker) to manage liquidity. CRV is down over 83% year-to-date but up nearly 78% over the past 90 days.
As of this writing, CRV is trading at $1.06, giving it a market cap of more than $550 million. It has an all-time high of $60.50 (August 2020) and an all-time low of $0.3316 (October 2020).
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PancakeSwap (cake)
Launched in 2020, it is an AMM that allows users to exchange tokens, offer liquidity (through farming) and earn fees in return. CAKE is down over 65% year to date but is up over 54% over the past 90 days.
As of this writing, CAKE is trading at $4.15, which is a market cap of more than $590 million. It has an all-time high of $44.18 (April 2021) and an all-time low of $0.0002318 (September 2020).
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Synthesis (SNX)
Launched in 2017, it is a DeFi protocol that gives users access to a variety of on-chain crypto and non-crypto assets. SNX is down over 56% year to date but is up almost 67% over the past 90 days.
As of this writing, SNX is trading at $2.59, which represents a market cap of more than $620 million. It has an all-time high of $28.77 (February 2021) and an all-time low of $0.03258 (January 2019).
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Manufacturer (MKR)
Launched in 2017, it is a MakerDAO and Maker Protocol governance token that helps members issue and govern the DAI stablecoin. MKR is down nearly 73% year-to-date and nearly 7% over the past 90 days.
As of this writing, MKR is trading at $665.94, which is a market cap of more than $640 million. It has an all-time high of $6,339.02 (May 2021) and an all-time low of $21.06 (January 2017).
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aave
Launched in 2017, it is a decentralized financial protocol that helps users lend and borrow crypto. This token was originally known as ETHLend. AAVE is down over 70% year to date but is up over 52% over the past 90 days.
As of this writing, AAVE is trading at $79.21 which represents a market cap of more than $1.10 billion. It has an all-time high of $666.86 (May 2021).
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ApeCoin (APE)
Launched in 2022, it is the governance token of the APE ecosystem, allowing users to participate in ApeCoin DAO and granting them access to some specific parts of the ecosystem that are otherwise unavailable. APE is up nearly 1% year-to-date and nearly 42% over the past 90 days.
As of this writing, APE is trading at $4.73, which is a market cap of more than $1.40 billion. It has an all-time high of $39.40 (March 2022) and an all-time low of $1.00 (March 2022).
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Uniswap (UNI)
Launched in 2018, it is a decentralized trading protocol that supports automated trading of DeFi (Decentralized Finance) tokens. UNI is down nearly 67% year to date but is up over 89% over the past 90 days.
As of this writing, UNI is trading at $5.74, giving it a market cap of more than $4.40 billion. It has an all-time high of $44.97 (May 2021) and an all-time low of $0.419 (September 2020).
This article originally appeared on ValueWalk
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