In mid-March, the highest 5 blockchains — when it comes to whole worth locked (TVL) in decentralized finance (defi) — presently command greater than 82% of the $198 billion TVL in defi throughout all blockchains. Every of those chains gives various kinds of defi protocols like decentralized trade (dex) platforms and lending functions, permitting folks to designate their funds in numerous methods.
5 Blockchain Networks, 21 Defi Protocols
Right now, 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 completely different blockchain TVLs characterize 82% of the $198 billion locked in defi protocols. The chains embody Ethereum, Terra, Binance Sensible Chain, Avalanche, and Solana.
Ethereum presently holds the biggest TVL with $108.51 billion or 54.59% of the worth locked in defi protocols. On March 14, the highest decentralized trade (dex) platform tied to Ethereum is Curve Finance, with its $17.72 billion in TVL. Ethereum’s prime collateralized debt place (CDP) software is Makerdao, which is slightly below Curve because the second-largest TVL in defi at present.
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 software 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 biggest when it comes to liquid staking. When it comes to yield, Pylon Protocol is Terra’s hottest product with the very best TVL.
Presently, there isn’t a CDP software for Terra however the blockchain’s largest lending software is Anchor with $13.03 billion whole worth locked. The defi lending protocol Anchor has seen a 63.23% TVL improve over the past 30 days.
Binance Sensible Chain
The Binance Sensible Chain (BSC/BNB) is the third-largest blockchain at present 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 biggest CDP software is the Mars Ecosystem.
There’s no liquid staking through BSC however when it comes to yield, Alpaca Finance is the biggest on the community. Relating to defi lending, the biggest 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. Right now’s prime Avalanche dex software 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 present. 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 biggest lending software 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 completely different blockchains and the handfuls of aforementioned protocols is the place a lot of the cash is in defi at present, there’s a big assortment of different blockchains and functions out there. On the time of writing, there are 384 dex functions that enable folks to swap cash and there are 125 lending defi protocols that enable folks to borrow and lend crypto. 328 defi apps supply some form of yield and there are 16 completely different liquid staking apps. Moreover, there’s a minimum of 30 completely different CDP protocols that concern stablecoin property through collateralized backing.
What do you concentrate on the highest 5 blockchains providing completely different functions for dex platforms, CDPs, liquid staking, yield, and lending? Tell us your ideas about this topic within the feedback part beneath.
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