5 Blockchain Networks, 21 Defi Protocols
Today, defi is just below $200 billion. This is just the total value locked (TVL), and doesn’t include tokens that are tied to specific protocols. Five different blockchain TVLs currently represent 82% the $198 million in defi protocols. These chains include Terra, Terra Smart Chain, Binance Smart Chain and Avalanche.
Ethereum holds the largest TVL at $108.51 million, or 54.59%. Curve Finance’s $17.72 Billion in TVL was the top-ranked decentralized exchange (dex), platform linked to Ethereum on March 14. Makerdao is Ethereum’s top-ranked collateralized debt position (CDP), which is just below Curve, with its $17.72 billion in TVL.
Lido is Ethereum’s most popular liquid staking protocol, while Convex Finance is Ethereum’s top protocol for yield. Aave is Ethereum’s largest lending program, with its $11.35 million TVL.
Terra is the second-largest dex chain by TVL in defi, with $25.79 trillion or 12.98%. Astroport is Terra’s most-popular dex, while Lido is Terra’s largest liquid staker. Terra’s most loved product in terms of yield is Pylon Protocol, which has the highest TVL.
Terra does not currently have a CDP application. Anchor, with its $13.03 billion in total value, is the largest lending application on blockchain. In the past 30 days, Anchor, a defi lending protocol, has seen an increase of 63.23% TVL.
Binance Smart chain
Binance Smart Chain (BSC/ BB) is today’s third-largest Blockchain in terms of defi TVL. It holds $11.73 billion, or 5.9% of total defi. Pancakeswap is the top dex on BSC, while the Mars Ecosystem is the largest CDP app.
BSC doesn’t allow liquid staking, but Alpaca Finance has the highest yielding network. Venus is the protocol with the most value that has been locked onto BSC for defi lending.
Avalanche is fourth in decentralized finance with $10.88 Billion, or 5.47%, of the $198 Billion in defi protocol funds. Today’s Avalanche top dex is Trader Joe. The blockchain’s most downloaded CDP is Defrost.
Yield Yak leads Avalanche in terms of yield. Benqi is the top liquid staker. Aave, like Ethereum, is the largest lending protocol on Avalanche as of the writing.
Solana was the fifth-largest Definitive Blockchain in March 2022, with a $6.69 Billion TVL (or 3.37%) of the total defiable assets. Serum is Solana’s top-ranked dex and Parrot Protocol is the blockchain’s leader in CDP.
Marinade Finance is Solana’s leader in liquid staking apps, while Quarry is the most yield-oriented protocol. Solend, with $575.3 Million locked, is the largest Solana lending application.
Other than the Top Five Chains, there are still dozens of networks and 862 Liquid Staking and Yield Networks to choose from.
There are many other applications and blockchains available. There are currently 384 dex apps that allow users to swap coins, and 125 lending defi protocol that allows people to lend and borrow crypto. There are 328 defi applications that offer some kind of yield, and 16 liquid staking app. There are at least 30 CDP protocols that can issue stablecoin assets with collateralized backing.