STATE OF THE DEFI

SAMUEL HECTOR
3 min readApr 13, 2023

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Total Value Locked in DeFi (Top 5 Projects)

Total Value Locked in DeFi: ~$33.46B USD. DeFi TVL has increased by 9.32% in the last 30 days.

  1. LidoFinance (LDO) Total Value Locked in DeFi has increased by 13.2% in the last 30 days

Lido is a liquid staking solution for Beacon chain backed by industry-leading staking providers. Lido lets users stake their ETH — without locking tokens or maintaining infrastructure — whilst participating in on-chain activities, e.g. lending.

Our goal is to solve the problems associated with initial Beacon chain staking — illiquidity, immovability and accessibility — making staked ETH liquid and allowing for participation with any amount of ETH to improve security of the Ethereum network.

2. Maker (MKR) Total Value Locked in DeFi has decreased by -4.37% in the last 30 days

Maker is a smart contract lending platform that enables users to take out loans by locking-in collateral in exchange for Dai. It was founded by the Maker Foundation in 2015 as an open-source project to offer economic freedom and opportunities to anyone, anywhere. In 2017, it launched the Maker governance token (MKR) and its first stablecoin iteration known as the Single Collateral Dai (SAI), which used Ether (ETH) as collateral.

3. Aave (AAVE) Total Value Locked in DeFi has increased by 12.7% in the last 30 days

Aave is a decentralized money market protocol where users can lend and borrow cryptocurrency across 20 different assets as collateral.

The protocol has a native token called AAVE, which is also a governance token that lets the community decide the direction of the protocol in a collective manner.

Lenders can earn interest by providing liquidity to the market, while borrowers can borrow by collateralizing their cryptoassets to take out loans from the liquidity pools

4. Curve DAO (CRV) Total Value Locked in DeFi has increased by 11.1% in the last 30 days

Similar to Uniswap, Curve Finance is an Automated Market Maker (AMM) based Decentralised Exchange (DEX). Unlike Uniswap, Curve focuses on allowing users to swap between assets that have very similar underlying value at the lowest slippage. This is useful in the DeFi ecosystem as there are plenty of wrapped tokens and synthetic tokens that aim to mimic the price of the real underlying asset.

5. UniSwap (UNI) Total Value Locked in DeFi has increased by 10.3% in the last 30 days

Uniswap is a decentralized exchange (DEX) that makes it easy for users to swap an ERC-20 token for another ERC-20 token without the need of a centralized intermediary. With a DEX, traders do not have to deposit their tokens on an exchange and be exposed to the security risks of a centralized exchange.

FOLLOW FOR MORE PROJECTS NEWS AND UPDATES.

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SAMUEL HECTOR

Web3 Fanatic | Growth Lead/Marketing | Community Manager | Content Marketer | Social Media Manager | Reddit Promotion | L2 Maximalist | #Ethereum