Santiment’s investigation has shown that Top DeFi platforms in July in terms of development activity include Maker, Synthetix, Band Protocol, and Augur.
But it also showed that Some of the platforms that have seen the biggest price increases recently haven’t had much development activity compared to others like Compound, Aave, Balancer and Yearn Finance.
The report looked at the main ERC-20 projects (not exclusively DeFi projects) with the highest registered developer action using their own ranking system called Sanbase. He defines development activity as a demonstration of “monthly commitment to creating a working product, continually improving and improving functions, and adhering to the long-term roadmap”. The three main projects of the ERC-20 were Gnosis, Status and Aragón.
Maker leads DeFi projects
Maker was the top DeFi platform of the month (at number 4) has been updated with several government proposals approved as a voting portal.
Synthetix took second place with several development milestones achieved in Julyas it continuously improves the platform in preparation for a brand update release. There was also a roadmap update that included several improvements for the second half of the year, and Synthetix is committed to decentralized governance.
The tape log is progressing
The Band Protocol, whose BAND token was approved for inclusion in Coinbase Pro this week, took third place on DeFi projects. The protocol has improved the incentive systems and updated its oracle scripts, which have recently helped it with a number of key associations.
Augur released its second version of smart contracts and platform update in late July, so research remains in the top ten.. The last DeFi project on the list was the Keep protocol, which secures blockchain data for industry-wide interoperability.