The autonomous synthetics protocol enables users to gain exposure to real-world assets on the blockchain, expanding the possibilities in the DeFi space.
MakerDAO maintains its dominant position with an impressive Total Value Locked (TVL) of $4.78 billion. As a decentralized credit platform on Ethereum, MakerDAO allows users to create and manage the DAI stablecoin. Following closely behind is JustStables, another protocol operating on a single chain, with a TVL of $1.644 billion. Completing the top three is Liquity, a decentralized borrowing protocol, which has successfully locked in assets worth $648.34 million.
Leading Protocols of Cardano
The Cardano network, renowned for its advanced proof-of-stake consensus mechanism, has experienced a significant increase in DeFi adoption.
Taking the lead is Minswap, a decentralized exchange boasting a total value locked (TVL) of $47.62 million. Indigo, although initially claiming the top spot before settling, secures the second position with a TVL of $46.94 million. In close pursuit are Liqwid and Optim Finance, lending platforms with respective TVLs of $21.21 million and $13.16 million. It is also noteworthy to highlight the extraordinary growth of Astarter, which has witnessed a staggering 1,000% surge in the past month.
DeFi Protocols Lanscape
In the broader DeFi landscape, Ethereum continues to hold the top position with an impressive total value locked (TVL) of $22.228 billion and 942 active protocols. Tron and BSC come next, with TVLs of $7.793 billion and $3.199 billion, respectively. Despite Ethereum’s prevailing dominance, other chains such as Cardano are gradually establishing their own unique space in the market.