Most DeFi Projects on Ethereum

Most DeFi projects are built on the Ethereum blockchain, redefining its operations. Increased use of decentralized platforms helps burn ETH from circulation, driving its price and demand.

Top Ethereum Burner DeFi Projects

Gnosis

Gnosis, a decentralized prediction market protocol on Ethereum, led with a burn of 19.4 ETH ($37,100) last week, significantly decreasing ETH supply.

Metamask

Metamask, a multi-chain crypto wallet, burned 18.5 ETH ($35,400) during the period, indicating high user engagement in the DeFi ecosystem by directing transaction fees to ETH burning.

Aave

Aave, a DeFi platform for lending and borrowing digital assets, burned 17 ETH ($32,500), showcasing its role in facilitating DeFi activities and ETH reductions.

Uniswap

Uniswap, a major DEX platform, followed by burning 16.6 ETH ($31,700), reflecting its popularity among users engaging in peer-to-peer crypto trading.

1Inch

1Inch burned 12.1 ETH ($23,100), benefiting from increased usage as a DEX aggregator offering the best exchange rates.

Others

Other notable contributors included Pendle (4.5 ETH), 0x Protocol (2.8 ETH), ParaSwap (2.6 ETH), Kyber Network (2.3 ETH), and Chainlink (2 ETH), enhancing ETH burn efforts.