How to use DeFi on StarkNet

Access cheap and instant DeFi on StarkNet

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Edward Wilson

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Quick summary

DeFi on Ethereum is slow, expensive, and offers a poor user experience. That’s the opposite of StarkNet, which is near instant, transactions cost pennies, and with features like Multicall, it’s easy to use!

What is DeFi?

DeFi, or Decentralized Finance, is an exciting alternative to traditional finance. It gives anyone, anywhere, access to new financial opportunities by lowering the barriers to entry. All you need is an internet connection, a wallet like Argent X, and some ETH - that’s it!

What can I do with DeFi?

The StarkNet ecosystem is full of exciting DeFi Dapps for you to explore that cover permissionless exchanges, lending and borrowing, and investment strategies.

Here are just some examples:  

JediSwap

A community-led, fully permissionless, and composable automated market maker (AMM).  

AMMs are fully decentralized and automated exchanges that rely on the community to provide tokens (liquidity) in liquidity pools, not buyers and sellers like traditional financial exchanges.

The price of the tokens is determined by an algorithm that automates price changes depending on market demand.

Website: jediswap.xyz

Jediswap interface

Sithswap

An alternative AMM, where users and contracts can trade uncorrelated and correlated assets with variable fees and extremely low slippage. SithSwap currently has a rewards system where users and projects can sponsor and earn weekly rewards to drive volume and liquidity to the AMM.

Website: sithswap.com

SithSwap interface

Fibrous Finance

Get the best and cheapest rates for token exchanges across all the StarkNet AMMs with Fibrous Finance and their routing algorithm.

Website: fibrous.finance

Fibrous Finance interface

Alpha Road

A DeFi platform to allow users to use unique financial products in a secure, efficient and simple way by leveraging the benefits of StarkNet.

Website: testnet.app.alpharoad.fi

Alpha Road interface

Nostra Finance

You can lend and borrow crypto assets without needing a trusted third party to act as an intermediary.

Website: nostra.finance

Nostra Finance product offering

Yagi Finance

Deposit your ETH and other tokens into a Vault to earn automatic yield through various strategies deployed by Yagi Finance.  

Website: yagi.fi/

An example Vault from Yagi Finance (DAI/ ETH Jediswap Liquidity Vault)

You can discover more StarkNet DeFi Dapps and more on Dappland, the best place to find and explore the StarkNet ecosystem.

Risks

As always in crypto and DeFi, you should do your own research on the risks. These include smart contracts and the economics of the protocols.