In mid-March, the highest 5 blockchains — when it comes to complete worth locked (TVL) in decentralized finance (defi) — at the moment command greater than 82% of the $198 billion TVL in defi throughout all blockchains. Every of those chains presents various kinds of defi protocols like decentralized alternate (dex) platforms and lending functions, permitting individuals to designate their funds in numerous methods.
5 Blockchain Networks, 21 Defi Protocols
At this time, there’s slightly below $200 billion in defi and that’s simply the full worth locked (TVL), because it doesn’t embody the big amount of tokens tied to those particular protocols. Proper now, 5 totally different blockchain TVLs signify 82% of the $198 billion locked in defi protocols. The chains embody Ethereum, Terra, Binance Sensible Chain, Avalanche, and Solana.
Ethereum at the moment holds the most important TVL with $108.51 billion or 54.59% of the worth locked in defi protocols. On March 14, the highest decentralized alternate (dex) platform tied to Ethereum is Curve Finance, with its $17.72 billion in TVL. Ethereum’s prime collateralized debt place (CDP) utility is Makerdao, which is slightly below Curve because the second-largest TVL in defi at this time.
When it comes to liquid staking, Lido is the highest defi protocol and Convex Finance is Ethereum’s prime protocol for yield. Lastly, Ethereum’s largest lending protocol is the defi utility Aave, with its $11.35 billion TVL.
The second-largest chain when it comes to TVL in defi is Terra, with $25.79 billion or 12.98% of the combination TVL. Terra’s hottest dex is Astroport, and Lido is the most important when it comes to liquid staking. When it comes to yield, Pylon Protocol is Terra’s hottest product with the very best TVL.
At present, there isn’t any CDP utility for Terra however the blockchain’s largest lending utility is Anchor with $13.03 billion complete worth locked. The defi lending protocol Anchor has seen a 63.23% TVL enhance over the past 30 days.
Binance Sensible Chain
The Binance Sensible Chain (BSC/BNB) is the third-largest blockchain at this time when it comes to defi TVL with $11.73 billion or 5.9% of the combination held in defi. The highest dex on BSC is Pancakeswap, and the most important CDP utility is the Mars Ecosystem.
There’s no liquid staking through BSC however when it comes to yield, Alpaca Finance is the most important on the community. With regards to defi lending, the most important protocol when it comes to worth locked on BSC is Venus.
Avalanche holds the fourth-largest place in decentralized finance this week with $10.88 billion or 5.47% of the $198 billion locked in defi protocols. At this time’s prime Avalanche dex utility is Dealer Joe and the blockchain’s hottest CDP is Defrost.
When it comes to yield, the protocol Yield Yak is the chief on Avalanche, and Benqi holds the highest liquid staking place. Like Ethereum, Aave is the largest lending protocol on Avalanche on the time of writing.
Lastly, Solana is the fifth-largest defi blockchain in mid-March 2022 with a $6.69 billion TVL or 3.37% of the combination held in defi at this time. Solana’s prime dex is Serum and the blockchain’s CDP chief is Parrot Protocol.
Marinade Finance leads Solana’s liquid staking apps and Quarry is the main protocol when it comes to yield. The most important lending utility on Solana this week is Solend with $575.3 million locked.
In addition to the High 5 Chains, There Are Nonetheless Dozens of Networks and 862 Lending, CDP, Yield, Liquid Staking, and Dex Functions to Select From
Whereas the 5 totally different blockchains and the handfuls of aforementioned protocols is the place a lot of the cash is in defi at this time, there’s a big assortment of different blockchains and functions obtainable. On the time of writing, there are 384 dex functions that enable individuals to swap cash and there are 125 lending defi protocols that enable individuals to borrow and lend crypto. 328 defi apps provide some type of yield and there are 16 totally different liquid staking apps. Moreover, there’s not less than 30 totally different CDP protocols that situation stablecoin belongings through collateralized backing.
What do you consider the highest 5 blockchains providing totally different functions for dex platforms, CDPs, liquid staking, yield, and lending? Tell us your ideas about this topic within the feedback part under.
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