Victor Ugochukwu · Dec 14, 2020 . 5min read
Report: Top 10 ERC20 Projects with highest Developer Activity in July
Santiment, a blockchain analytics firm, took a deep dive into some of the top 10 ERC20 tokens with developer activity. This is what they found out.
By Victor Ugochukwu · Aug 8, 2020 . 12min read
Remember it was just last month when the news triggered in that ERC20 tokens combined are now worth more than Ethereum market cap. This happened while ETH was preparing for a showdown in price movement as it did just before the end of July. While DeFi is booming and recording new ATH in TVL, DEX volumes are also shooting over the roof. Clearly, ERC20 tokens saw some nice upticks in developer activity for July. This article looks more into top 10 ERC20 tokens with developer activity.
A deep dive into some of the top 10 ERC20 tokens with developer activity shows:
The top 10 ERC20 Projects by developer activity
For starters, taking a close look at the table above shows Gnosis, a decentralized prediction markets protocol sitting at the top spot. Gnosis shows an average of 182% increase in developer activity. As a protocol for building prediction markets, Omen was launched in July. Omen has since facilitated up to $120,000 in volume for some of its popular market like “Will Ethereum 2.0 Phase 0 launch before 2021?” Even more, it launched the Gnosis Multisig wallet app. This allows for easy access to decentralized finance applications like Compound, Aave, Maker etc.
Status follows. Statusdecentralized, privacy-first iOS and Android app that combines a peer-to-peer instant messaging platform with a crypto wallet and a Web3 browser that lets you access and run dapps. It launched its desktop wallet as a way of targeting more users. The messaging app is also preparing heavily towards Eth 2.0 launch with the Nimbus project. Its developer activity grew by 165%.
Aragon, a protocol for building and managing DAO – decentralized autonomous organizations comes third. It ventured into ANT liquidity rewards. In fact, Curve Finance recently integrated Aragon for the smooth running of its platform anticipating more DeFi boom. Aragon’s developer activity grew by 97% for the month of July.
It would be an aberration if the leading DeFi platform, Maker doesn’t make this list. With constant governance proposals from an active community, Maker’s developers steadily worked through updates to implement the governance and voting portal. Interestingly, Maker is the first DeFi platform to hit $1 billion TVL. This growth was double of what the platform recorded in June. Before this milestone achievement, it added new Light Feed partners to Oracles: Infura, Kyber Network, Infura, and Gitcoin. Maker sits at 4th position with a 78% increase in developer activity.
Oracle, DeFi and Analytics Platforms dominate the list
Synthetix and Band Protocol sits on 5th and 6th respectively by developer activity. Synthetix, another leading DeFi platform released a slew of updates in July. Among them includes adding COMP, LEND, REN, and KNC markets to binary options. The apex of its updates was the decommissioning of its foundation in July. This was a step towards achieving full decentralization.
Band Protocol, a cross-chain decentralized oracle platform helps to connect smart contracts with off-chain information via community-curated data sources. Clearly, it is not relenting in wrestling with Chainlink, the leading decentralized oracle. It released a mobile version of CosmoScan, improved incentive systems in BandChain. This aims at supporting a more extensive range of utility libraries. Lastly, in July, Band also released the GuanYu Testnet #1, which had 50+ participating validators.
Augur and Santiment moved up to 7th and 8th positions respectively. The much-awaited Augur V2 was released in July. Augur ranked among the leading decentralized prediction market protocol and was also the first-ever ICO launched on Ethereum. Augur V2 comes with improved features. Interplanetary File System (IPFS), 0x Mesh, MakerDAO’s dai and Uniswap’s v2 oracle network are among the upgrades that came with V2.
Surprisingly, Santiments, a blockchain data analytics platform made the top 10 of ERC20 tokens in developer activity. It rolled out Santiment Screener, a customizable feature for monitoring crypto assets. High Transactions dashboard and Weighted Social Sentiment, which measures the average crowd mood on over 1000 crypto-related social media channels were also rolled out.
Privacy and Layer 2 platforms doubled down in developer activity
The last two at 9th and 10th positions are KEEP and Raiden Networks. Keep features off-chain containers that enable smart contracts’ interactivity with private data. This is an exciting project, especially with privacy issues, always at the front burner. Keep’s developers were hard at work on tBTC’s latest release candidate, rc.1. It aims to deploy it in August. Keep also hinted on a Stakedrop which will let people stake ETH to earn KEEP is underway. KEEP’s developers had 56% incremental development activity.
The last is Raiden network. Ethereum keeps experiencing network congestion and increasing gas cost. To add to the list of big networks seeking to leverage Ethereum, Reddit announced a scaling bakeoff contest to help with its Community Points. Subsequently, many Layer 2 platforms like Matic took up the offer. Apparently, Raiden’s developers were hard at work and have also submitted their proposal for the contest. The team is working towards the first mainnet release and are currently doing heavy testing. It has 51% in developer activity.