The fastest growing DeFi apps right now

DeFi is growing tremendously and thousands of new users have jumped into the action in the past few weeks.
According to recent data from the research platform Dune Analytics, the main decentralized financial protocols have shown spectacular growth since June 1st.

Nothing more than the asset pool and token exchange protocol Balancer, which has seen its user base grow by more than 580% at that time. A distant second is the Curve liquidity exchange, which has seen user growth of over 170%. All in all, there is more evidence that DeFi is taking the cryptocurrency world by storm and could possibly lead to the breakout to wider use of cryptocurrencies among the general population.

The Dune Analytics dashboard used to measure DeFi users over time was developed by confirmation partner Richard Chen and includes 20 of the most popular DeFi protocols, which have seen at least one growth since late May.

Dune Analytics allows users to create their own dashboards that track statistical data within the blockchain ecosystem, such as Ethereum gas prices or decentralized exchange metrics (DEX).

Additional DeFi products that record significant gains for users include the decentralized exchange aggregator of 1 inch at 43% growth, the 40% compound asset lending protocol and Uniswap at 37%.

The compound recently began distributing the COMP governance token, giving the community control over the development and future of the decentralized protocol. In May, Uniswap released an update to lower swap fees and a host of new features including oracle pricing features and flash loans.

Since June 1st, total DeFi users have grown by more than 23%
Lending Protocol Aave has seen user growth of more than 62% since June 1 and could continue to be a DeFi growth engine after today’s launch of credit delegation.

Credit delegation works similar to co-signing a bank loan, allowing Aave’s liquidity providers to designate other users who can take out loans backed by the original depositor’s collateral. The scheme allows liquidity providers to earn more interest on their deposits, while borrowers are able to access loans with little or no collateral of their own.

Like Compound’s recent COMP distributions and the launch of Balancer’s BAL governance token, Aave’s addition of credit delegation is intended to make DeFi more accessible and attractive to a wider audience.

Judging by the recent growth across the board for DeFi users, it looks like those efforts are paying off.