More Than 80% of the Funds Locked in Decentralized Finance Are Kept on 5 Chains, 21 Different Defi Protocols

In mid-March, the apical 5 blockchains — successful presumption of full worth locked (TVL) successful decentralized concern (defi) — presently bid much than 82% of the $198 cardinal TVL successful defi crossed each blockchains. Each of these chains offers antithetic types of defi protocols similar decentralized speech (dex) platforms and lending applications, allowing radical to designate their finances successful assorted ways.

5 Blockchain Networks, 21 Defi Protocols

Today, there’s conscionable nether $200 cardinal successful defi and that’s conscionable the full worth locked (TVL), arsenic it doesn’t see the ample quantity of tokens tied to these circumstantial protocols. Right now, 5 antithetic blockchain TVLs correspond 82% of the $198 billion locked successful defi protocols. The chains see Ethereum, Terra, Binance Smart Chain, Avalanche, and Solana.

Ethereum

Ethereum presently holds the largest TVL with $108.51 billion oregon 54.59% of the worth locked successful defi protocols. On March 14, the apical decentralized speech (dex) level tied to Ethereum is Curve Finance, with its $17.72 cardinal successful TVL. Ethereum’s apical collateralized indebtedness presumption (CDP) exertion is Makerdao, which is conscionable nether Curve arsenic the second-largest TVL successful defi today.

In presumption of liquid staking, Lido is the apical defi protocol and Convex Finance is Ethereum’s apical protocol for yield. Lastly, Ethereum’s largest lending protocol is the defi exertion Aave, with its $11.35 cardinal TVL.

Terra

The second-largest concatenation successful presumption of TVL successful defi is Terra, with $25.79 cardinal oregon 12.98% of the aggregate TVL. Terra’s astir fashionable dex is Astroport, and Lido is the largest successful presumption of liquid staking. In presumption of yield, Pylon Protocol is Terra’s astir fashionable merchandise with the highest TVL.

Currently, determination is nary CDP exertion for Terra but the blockchain’s largest lending exertion is Anchor with $13.03 cardinal full worth locked. The defi lending protocol Anchor has seen a 63.23% TVL summation during the past 30 days.

Binance Smart Chain

The Binance Smart Chain (BSC/BNB) is the third-largest blockchain contiguous successful presumption of defi TVL with $11.73 cardinal oregon 5.9% of the aggregate held successful defi. The apical dex connected BSC is Pancakeswap, and the largest CDP exertion is the Mars Ecosystem.

There’s nary liquid staking via BSC but successful presumption of yield, Alpaca Finance is the largest connected the network. When it comes to defi lending, the largest protocol successful presumption of worth locked connected BSC is Venus.

Avalanche

Avalanche holds the fourth-largest presumption successful decentralized concern this week with $10.88 cardinal oregon 5.47% of the $198 cardinal locked successful defi protocols. Today’s apical Avalanche dex exertion is Trader Joe and the blockchain’s astir fashionable CDP is Defrost.

In presumption of yield, the protocol Yield Yak is the person connected Avalanche, and Benqi holds the apical liquid staking position. Like Ethereum, Aave is the biggest lending protocol connected Avalanche astatine the clip of writing.

Solana

Lastly, Solana is the fifth-largest defi blockchain successful mid-March 2022 with a $6.69 cardinal TVL oregon 3.37% of the aggregate held successful defi today. Solana’s apical dex is Serum and the blockchain’s CDP person is Parrot Protocol.

Marinade Finance leads Solana’s liquid staking apps and Quarry is the starring protocol successful presumption of yield. The largest lending exertion connected Solana this week is Solend with $575.3 cardinal locked.

Besides the Top 5 Chains, There Are Still Dozens of Networks and 862 Lending, CDP, Yield, Liquid Staking, and Dex Applications to Choose From

While the 5 antithetic blockchains and the dozens of aforementioned protocols is wherever astir of the wealth is successful defi today, there’s a ample assortment of different blockchains and applications available. At the clip of writing, determination are 384 dex applications that let radical to swap coins and determination are 125 lending defi protocols that let radical to get and lend crypto. 328 defi apps connection immoderate benignant of output and determination are 16 antithetic liquid staking apps. Furthermore, there’s astatine slightest 30 antithetic CDP protocols that contented stablecoin assets via collateralized backing.

What bash you deliberation astir the apical 5 blockchains offering antithetic applications for dex platforms, CDPs, liquid staking, yield, and lending? Let america cognize your thoughts astir this taxable successful the comments conception below.

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