Cosmos has entered the decentralized finance space with Osmosis two weeks ago. A few weeks from now, it will be launching Gravity DEX. Not too far from now, Polkadot and Algorand will be having their own DeFi apps. DeFi Projects which are planning to build on Cardano are also gearing up for the launch of its smart contract functionality.

For the meantime, you may want to check Osmosis which is still incentivizing liquidity providers by up to almost 800 percent. Staking rewards are also up to 850 percent. This is just good for its first year, after that it will have its thirding in which the rewards will go down by 1/3. Osmosis currently has 100M in total value locked (TVL) and the maximum supply of its OSMO coin is only 1 billion. it also have plans in the future for a liquid staking and burning mechanism.

Soon, DeFI will not just be confined on Ethereum. Although it will still play a key role, the DeFi apps within Cosmos, Polkadot and Algorand will be too hard to ignore.