Explore the Ethereum Web3 ecosystem
In this article:
- What is the Ethereum ecosystem?
- How do I connect to Ethereum dApps and Web3 apps?
- What are some popular Web3 apps on Ethereum?
- How do I buy Ethereum (ETH)?
- How do I exchange Ethereum and ERC20 tokens?
- Which ERC20 tokens does Exodus support?
- How do I display my Ethereum NFTs?
What is the Ethereum ecosystem?
The Ethereum ecosystem is everything built on the Ethereum network. It is comprised of ERC20 tokens, NFTs, DEXs, DeFi dApps, and every other type of Web3 app you can think of.
Ethereum is a decentralized open-source blockchain network, and was the first network to implement smart contracts. Founded by Vitalik Buterin and others, the Ethereum network went live in July 2015.
In September 2022 Ethereum transitioned from proof-of-work (PoW) to proof-of-stake (PoS), reducing its energy consumption by ~99.95%.
If you're looking for blockchain data, the most popular block explorer for Ethereum is Etherscan.
One thing to be aware of while participating in the Ethereum ecosystem is the ETH gas fees. Depending on the type of transaction, and how busy the network is, these fees can get quite high. You can always check current fees on Etherscan's Ethereum Gas Tracker.
From staking your ETH to swapping your ERC20 tokens to collecting million-dollar rocks, here is an introduction to everything you can do on Ethereum.
How do I connect to Ethereum dApps and Web3 apps?
First of all, what are dApps and Web3 apps? They're like any other app, except they're built using blockchain technology like smart contracts. Instead of signing in with a username and password, you connect with a crypto wallet.
All dApps are Web3 apps, but not all Web3 apps are decentralized, so 'Web3 app' is the umbrella term used for any app you connect to with a crypto wallet. If you'd like to learn more, visit: What are dApps and Web3 apps?
You can connect to Ethereum Web3 apps with the browser-based Exodus Web3 Wallet, or by using WalletConnect in Exodus Mobile.
Exodus Web3 Wallet
Download Exodus Web3 Wallet to connect to any Ethereum Web3 app.
Web3 Wallet is a multi-chain browser extension wallet for Chrome and Brave. To learn more, visit: Getting started with Exodus Web3 Wallet.
WalletConnect on Exodus Mobile
You can connect to any Ethereum Web3 app with WalletConnect in Exodus Mobile.
WalletConnect is an open-source tool that connects mobile wallets to Web3. To learn more, visit: WalletConnect in Exodus.
What are some popular dApps and Web3 apps on Ethereum?
There are a lot of dApps and Web3 apps to explore, that cover everything from DeFi to staking to NFTs and more. Below, you can find some of the most popular Ethereum Web3 apps.
You can connect and explore without any funds in your wallet. But if you want to interact with Web3 apps, you'll need some Ethereum (ETH) in your wallet to pay transaction fees, also known as gas.
Don't have any ETH yet? Jump to: How do I buy Ethereum (ETH)?
It's important to note that Exodus provides a software interface that allows you to connect to Web3. Exodus can't guarantee the safety of any third-party platform, including the Web3 apps listed here. Make sure you do your own research, and only connect to Web3 apps you trust 100%.
For more information about how to stay safe while exploring the wide world of Web3, please visit: Safety and security for DeFi and Web3.
Aave is a finance Web3 app that allows users to borrow cryptocurrencies through smart contracts. Depositors earn rewards on crypto they lend to the Aave smart contract. Borrowers can deposit funds to the Aave platform and use it as collateral to take out crypto loans.
Compound Finance is a decentralized lending and borrowing platform that allows users to earn interest on the crypto they lend or take out a loan with crypto as collateral.
You can connect to the Compound Finance Web3 app with the Web3 Wallet or WalletConnect in Exodus Mobile. You can also find the Compound Finance app in Exodus Desktop. Find our full guide on Compound Finance in here: Getting started with Compound Finance in Exodus Desktop.
dYdX is a decentralized trading platform that offers margin and perpetual trading.
Margin trading allows you to take up to 20x leverage on your trades. Perpetual trading is a derivative financial contract with no expiration date, meaning it can be held or traded indefinitely.
Yearn Finance is a lending platform where you can earn rewards by lending your crypto.
The protocol automatically moves any crypto you deposit to different lending protocols to optimize the interest you earn, also known as yield. Yearn Finance does this by aggregating the interest rates from all available lending protocols.
Lido lets you stake any amount of ETH and earn daily staking rewards. You can also use your staked ETH in other DeFi Web3 apps to compound your income.
You can read our full guide on Lido here: How to stake Ethereum (ETH) on Lido.
Magic Eden is well-known as a Solana NFT marketplace, but you can also collect and trade Ethereum NFTs on Magic Eden.
OpenSea is the largest Ethereum NFT marketplace where you can buy, sell, collect, and transfer NFTs.
You can check out their support documentation if you are interested in learning more about OpenSea.
Rarible is another popular NFT marketplace that supports Ethereum NFTs.
Rarible supports instant sales of NFTs and also auctions so that the NFT can be auctioned off to the highest bidder. Rarible also lets you "burn" unwanted scam NFTs or other tokens to remove them from your wallet.
Axie Infinity is a multiplayer game where players collect, breed, and mint creatures called Axies.
How do I buy Ethereum (ETH)?
If you need to buy some Ethereum (ETH), you can use the Buy Crypto feature in your Exodus wallet!
Depending on your region, you may be able to purchase through Ramp, MoonPay, or both. You can find our step-by-step guides here:
For general info on how to buy crypto, visit: Where can I buy Bitcoin and other crypto?
How can I exchange Ethereum and ERC20 tokens in Exodus?
You have 2 options to swap Ethereum (ETH) and ERC20 tokens in Exodus.
You can use Exodus Swap on Web3 Wallet or the in-app exchange on Desktop and Mobile.
You can swap ETH and ERC20 tokens using Exodus Swap on Web3 Wallet.
Exodus Swap includes a DEX aggregator that allows you to perform exchanges outside of traditional, centralized exchanges. DEX aggregators get you the best deal from multiple decentralized exchange providers, which means you pay cheaper fees and get better token prices.
You can also perform cross-chain swaps which are routed through centralized API providers in Exodus Swap.
You can find the full guide here: How do I exchange crypto in Web3 Wallet?
With the in-app exchange on Exodus Desktop and Mobile, you can exchange many different cryptocurrencies. In most cases, you don't have to KYC, and exchanges are often complete in a few minutes!
To learn more, visit: How do I exchange crypto using the in-app exchange?
Which ERC20 tokens does Exodus support?
Exodus supports a lot of ERC20 tokens! You can search for your token, and enable supported ERC20 tokens by following the steps in this guide: How do I enable and disable assets in Exodus?
If your token isn't supported, jump to: How do I add custom ERC20 tokens?
You can see all supported ERC20 tokens if you filter by the Ethereum network in the Assets section of your wallet. For a full guide on how to do this, visit: How do I find an asset by its network?
How do I add custom ERC20 tokens?
If Exodus doesn't yet support your favorite ERC20 token, you can add it as a custom token!
Find all the steps here: How do I add a custom token?
How do I display my Ethereum NFTs?
You can display your Ethereum NFTs in your NFT Gallery in Exodus.
Available in Exodus Web3 Wallet, Mobile, and Desktop, the NFT Gallery is an easy way to show off your Ethereum NFTs.
You can find out more here: How do I explore the NFT Gallery?