Top 10 DeFi Protocols with Biggest User Growth in November



Katana, Trader Joe and Alcor Exchange gained the most traction

User growth and increased popularity are key metrics for DeFi protocols as more people dip their toes into decentralized finance. This November Katana, the decentralized exchange on Ronin, Trader Joe on Avalanche and Alcor Exchange have seen their audience grow the most. 

The newly launched Katana DEX on the Ronin sidechain directly taps into the Axie Infinity ecosystem. As this play-to-earn game attracts more than 2 million users per day, it’s no surprise to see Katana at the top of the charts. The newly launched DEX attracted more than 382.000 users in November. 

Those who are trading crypto have seen considerable demand for AVAX, the native token of the Avalanche ecosystem. Riding that wave of increased attention, we find Trader Joe reaping rewards. The DeFi protocol has become the premiere platform for people looking to swap their tokens, increasing its audience 195% to more than 304.000 unique active wallets. 

In a similar fashion, Alcor Exchange finds itself in the spotlight. While the play-to-earn movement gains traction, more gaming projects launch on the Wax blockchain. Those projects introduce more tokens, and gamers can trade those tokens on Alcor Exchange. Thanks to the success of Farmers World and Alien Worlds, the decentralized exchange increased its audience 84% this month to 60.850 UAW. 

Lower in these rankings we see ViperSwap on the Harmony blockchain, signalling a potential influx of users and dapps into the Harmony ecosystem. In addition, it looks like DeFi on Polygon is slowly waking up again, as QuickSwap grew its user base 41% in November.

Top 10 DeFi protocols by % UAW growth in November 2021

  1. Katana (Ronin) – NEW – 391.710 UAW
  2. Trader Joe (Avalanche) – 192.4% – 311.010 UAW
  3. Alcor Exchange (Wax, EOS, Telos) – 84.8% – 61.790 UAW
  4. OpenOcean (ETH, BSC, Polygon & more) – 80.3% – 21.130 UAW
  5. Bogged Finance (BSC) – 72.1% – 33.460 UAW
  6. ViperSwap (Harmony) – 70.3% – 29.580 UAW
  7. BiSwap (BSC) – 64.4% – 126.820 UAW
  8. Mars Ecosystem XMS (BSC) – 57.1% – 28.820 UAW
  9. QuickSwap (Polygon) – 51.7% – 275.310 UAW
  10. BabySwap (BSC) – 47.7% – 30.550 UAW



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