DeFi

DeFi TVL Musings: Lido Gains 18% and Maiar Exchange Drops By 22.5%

Decentralized finance (DeFi) remains one of the crucial pillars of the cryptocurrency industry. As the Total Value Locked now sits above $305 billion, another significant milestone has been reached. Some projects note strong growth again, which is somewhat surprising in some cases.

DeFi Total Value Locked Soars Again

There are different ways to gauge the overall Total Value locked in DeFi projects today. Some users will look at the TVL without staking for governance tokens, whereas others include. This article includes the staked governance tokens per protocol, bringing the TVL from $276.5 billion to over $305 billion. It is worth including these tokens, as they all serve a purpose. 

It has been another exciting week for DeFi protocols, as there will soon be two ecosystems with over $20 billion in TVL. Curve surpassed that threshold a while ago, and it appears MakerDAO will do the same. Both projects noted a minor increase in Total Value Locked, at 2.03% and 3.48%, respectively. Solid growth figures for two projects whose market cap is far lower than their Total Value Locked. 

Source: DeFiLlama

Unfortunately for AAVE supporters, it appears that protocol will take a while longer to get to $20 billion. Of course, a weekly loss of 3.99% isn’t helping matters much either. Even with most crypto assets bouncing back this week after a minor bearish period. AAVE is unable to sustain its TVL numbers. As MakerDAO leaps ahead further, that situation may not change right away either. 

Similar to AAVE, Compound noted a relatively strong setback this week. A 2.78% drop might not seem like much, yet it represents over $250 million leaving the platform’s smart contracts. These dips may indicate users are shuffling their funds to other decentralized finance protocols, although it is hard to gauge the reason. Users will explore whichever opportunity is most lucrative and gives them the fewest headaches. 

Lido Is On Fire

This week, the big gainer is Lido, a platform known for its support of Ethereum 2.0 staking. But, more importantly, users can retain liquidity through Lido and sue their tokenized stake value across other trading platforms and DeFi protocols. This week’s 18.12% TVL increase brings its Total Value locked to over $11.5 billion, which is rather impressive. 

Further down the list, we see Anchor noting a 41.07% increase in TVL. That is an astronomical amount, putting it within striking range of Yearn.Finance. Anchor resides on the Terra blockchain, an ecosystem that has seen tremendous DeFi growth in recent months. There are many blockchains for developers to explore when building products and services, and Ethereum isn’t always the best choice.

Source: DeFiLlama

Unfortunately, Elrond’s Maiar Exchange saw a very steep dropback. Whereas other DeFi protocols remain steady or slightly increase their TVL, Maiar Exchange lost 22.51%. It still has over $2 billion in liquidity, though, but it is a very steep decrease that is rather unexpected. These rankings are always worth keeping an eye on, for various reasons. 


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JP Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

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