12 DApps Specified By Consensys As Money Making Platforms

By Rishma Banerjee

Enterprise Ethereum Company ConsenSys, which was founded by Joseph Lublin, and is an organization which aims to solve real-world problems with Ethereum blockchain solutions for organizations of all sizes, recently listed 12 decentralized applications (DApps) and platforms on the Ethereum network that can be used to make money. The list consists of DApps for bounties and freelance work, lending and staking platforms, and prediction markets.

The first on the list was Gitcoin, which provides an easy of monetizing or incentivizing work in open source software by enabling contributors to explore and work on existing bounties. They have assisted 763 unique coders to reach 305 funders since November 2017.

The second DApp mentioned was Bounties Network which helps users by creating bounties for any tasks with transactions using ETH and ERC-20 tokens. As per reports, they have generated $400,000 in total bounties till date thus enabling asks spanning across the grassroots social action to freelancing opportunities.

The next one on the list is Cent, which is another bounty network, that is built on the concept that social networks run on content but don’t provide enough value to the content creators. Creators, on this platform, can share and connect with users calling themselves Centians and uses the term ‘centing’ for putting a bounty on something.

The fourth DApp to make it to the list is Ethlance which enables users to find work they like or can do. They get paid in digital currencies and moreover, the platform doesn’t charge any fees for the users while allowing them to create an unlimited amount of jobs. Users post jobs in IT, writing, web development, app development, and other such categories.

The next one is MakerDAO CDP, which allows users to borrow DAI using ETH, where the ETH remains locked in a smart contract until the burrowed DAI is paid back.

The sixth DApp is ETHLend, which uses their native token LEND, and allows users to enjoy zero-fee lending using smart contracts where digital assets are provided as collaterals.

Compound Finance, the seventh one on the list enables users to supply their idle crypto holdings to its open-source protocol for money markets on the Ethereum network. The algorithmic markets adjust the interest rates users can earn depending on the demand and supply of available crypto assets.

The eighth DApp is Dharma which is yet another Ethereum-based lending and borrowing platform. It comes with a wide range of smart contracts that let users approve ERC721 tokens as collateral for loans.

Gnosis Olympia, which is the 9th Dapp on the list, enables the user to make predictions and subsequently win GNO tokens every time they are successful. The alpha version of the platform is designed to let users try their hands at trading. They also have a developer contest called Gnosis X offering up to $100k USD value in GNO coins to the winners.

The tenth addition to the list is Augur, which allows users to stake ETH and make predictions about a wide range of topics- ranging from elections to the price of a cryptocurrency.

Pdotindex is the eleventh one to be on the list. It is a price-weighted index which brings unique derivatives based on celebrities. It is derived from speculative positions on the Augur markets and has indices based on basketball star LeBron James, pop singer Ariana Grande, and many others.

The last one to make it to the list is Veil, which is a derivatives platform and peer-to-peer prediction market that is built on Ethereum, 0x, and Augur. Veil’s newest instant settlement feature allows users to settle before the market is finalized on Augur.