These 5 DeFi Protocols Increased Their TVL By Over 615% This Month

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The past few months have been very rough for the entire cryptocurrency industry. Unfortunately, things will not improve overnight either, as new lows are being recorded every day. But, interestingly, there are a fair few smaller DeFi protocols noting substantial growth in the TVL department. 


Numerous blockchains facilitate decentralized finance protocols, products, and services. Not all networks are very popular or successful, although things are improving. Polygon is one of those chains with tremendous potential but rather little activity. Dystopia, a community-oriented DEX on Polygon, notes a 7,732% TVL increase in the past month. It represents just $30.3 million in Total Value Locked, but the growth remains remarkable. 


Unlocking passive income is one of the primary reasons why people flock to decentralized finance. Agave, forked from Aave, provides that functionality on the xDAI network. Users can also use their deposits as collateral to borrow and lend digital assets. A monthly 2,183% TVL increase is substantial, even if the network barely represents $390,000 in Total Value Locked. 


Decentralized exchanges will remain the primary trend in DeFi, along with lending protocols. MochiSwap, a decentralized exchange on Harmony and BNB Chain, provides decentralized asset swapping and liquidity pools to enable yield mining. While a TVL of under $273,000 isn’t too significant, the protocol notes a monthly 1,432% increase. Interesting changes, although everything needs to be put in the correct perspective. 


It is good to see a payments-oriented solution make inroads in the decentralized finance sector. LlamaPay is a multi-chain protocol automating transactions to be streamed by the second. Recipients can withdraw funds at any time. LlamaPay is accessible across Ethereum, Avalanche, Fantom, Polygon, BNB Chain, Optimism, Arbitrum, and Gnosis. The monthly 619% TVL increase brings its Total Value Locked to $2.257 million. 

Mean Finance

Dollar-cost averaging is a powerful and often underrated tool in the cryptocurrency industry. Mean Finance enables users and protocols to DCA any ERC20 token without compromising decentralization or giving up personal details. Such services can prove useful, although ERC20 tokens don’t have the most appeal these days. Mean Finance’s $567,000 in TVL is spread across Optimism, Polygon, Ethereum, and Arbitrum. A monthly 615% TVL increase is significant, although tough to sustain.

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