Best DeFi Projects and Tokens (November...
2026-11-13
Best DeFi Projects and Tokens (November 2026): Lending, DEXs, Perps and Staking
By the SecureShift Team · Updated November 13, 2026
Disclosure: SecureShift isn't affiliated with these protocols. TVL figures are approximate DefiLlama-style data from mid-November 2026 and change daily. This is a watchlist, not investment advice.
Quick answer
The DeFi projects with the strongest position in October–November 2026, by TVL, revenue and usage, are Lido (liquid staking, ~$19B TVL), Aave (lending, ~$14B), Morpho (curated lending, ~$10B), Hyperliquid (perps, HYPE up roughly 200% in 2026), Ethena (USDe), Pendle (yield trading), Sky/Spark, Uniswap and Jupiter. Tokens differ widely in whether holders actually capture protocol revenue, so check fee switches and buybacks, not just TVL.
In this guide
How we picked these projects
We looked at four things for each protocol:
- Total value locked (TVL) and its trend.
- Fees and revenue that users actually pay.
- Token value capture — buybacks, fee sharing or staking rewards.
- Track record and security history.
Best DeFi projects by category
| Project | Token | Category | Approx. TVL (Nov 2026) | Why it stands out |
|---|---|---|---|---|
| Lido | LDO | Liquid staking | ~$19B | Largest DeFi protocol; stETH is core ETH collateral |
| Aave | AAVE | Lending | ~$14B | Most-used lending market across Ethereum and L2s; token buybacks |
| Morpho | MORPHO | Lending | ~$10B | Curated vaults; powers lending inside major apps and exchanges |
| Ethena | ENA | Synthetic dollar | ~$5B | USDe delta-neutral stablecoin; yield tied to funding rates |
| Spark / Sky | SPK / SKY | Lending / stablecoin | ~$4–8B combined | Successor to MakerDAO; USDS and sUSDS |
| EigenLayer (EigenCloud) | EIGEN | Restaking | ~$5B | Restaked ETH securing other services |
| ether.fi | ETHFI | Liquid restaking | ~$3–4B | eETH plus a crypto card and cash products |
| Hyperliquid | HYPE | Perps DEX / L1 | Multi-billion | Dominant on-chain perps venue; revenue-funded HYPE buybacks |
| Pendle | PENDLE | Yield trading | Multi-billion | Fixed yields and yield speculation |
| Uniswap | UNI | DEX | Multi-billion | Largest EVM DEX; v4 hooks; Unichain L2 |
| Jupiter | JUP | Solana DEX aggregator | Multi-billion | Main Solana trading hub; perps and launchpad |
| Curve | CRV | Stable DEX | ~$2B+ | Stablecoin liquidity backbone; crvUSD |
Top DeFi narratives right now
- Revenue-sharing tokens. Protocols with buybacks (HYPE, AAVE) have outperformed tokens without value capture.
- Curated lending. Morpho-style vaults and integrations with centralized apps brought new deposits on-chain.
- Tokenized Treasuries and RWAs as DeFi collateral.
- Stablecoin growth under the GENIUS Act framework, though the ban on issuer-paid interest shapes yield products.
- Perps on-chain. Hyperliquid's HIP-3 permissionless markets reached billions in open interest.
Risks
- Smart-contract exploits remain the biggest single risk in DeFi.
- Token unlocks — several projects still have large investor allocations vesting.
- Regulation — US market-structure legislation stalled in September 2026; future rules may target DeFi front-ends.
- Yield compression in risk-off markets lowers protocol revenue.
- Stablecoin design risk — synthetic dollars like USDe depend on positive funding rates.
How to get exposure without an exchange account
You can swap BTC, ETH, USDT or XMR into tokens like ETH, SOL and other supported DeFi tokens on SecureShift, wallet to wallet, then use them in DeFi from your own wallet. New to DeFi? Start with our explainer: What is DeFi?
SecureShift
Ready to move between chains without an account? Swap on SecureShift (no account, non-custodial) or trade on the SecureShift DEX.
FAQ
What is the biggest DeFi project?
By TVL, Lido (liquid staking) and Aave (lending) are the largest in November 2026.
Which DeFi tokens share revenue with holders?
Hyperliquid (HYPE) and Aave (AAVE) run buybacks; others like Uniswap have debated or partially enabled fee switches. Check each protocol's current governance.
Are DeFi tokens a good investment?
They're high risk and often fall more than BTC or ETH in downturns. Only invest what you can afford to lose.
Where can I track DeFi TVL?
DefiLlama is the standard free dashboard for TVL, fees and revenue.
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