DeFi Protocols Amasses $20 Bln In Deposits.

DeFi Protocols Amasses $20 Bln In Deposits.

2021-02-18 | Eddy Morgan

DeFi Protocols Amasses $20 Bln In Deposits.

There has been no slowdown within the amount of collateral pouring into the renowned DeFi [Decentralized Finance] protocols this year. DeFi’s leading three lending protocols have amassed approx $20 Bln consistent with Dune Analytics. A Messari research report into valuing these platforms suggests they’re on target to get in more than half a billion in interest annually. Maker, Compound Finance, along Aave have all seen record levels of lending deposits as crypto assets yield farmers seek exponentially better returns than traditional banks offers. Messari revealed on Twitter:
“The top three lending platforms will generate $660 Mln in interest per annum at the time of reporting.”
Messari researcher Mira Christanto outlined that protocols extract value by both attracting capitals & putting it to use, and their TVL [Total Value Locked], reflects this. TVL is the present metric for measuring the performance of a DeFi protocol and it can vary counting on the calculations employed by several different analytics suppliers. In line with Dune Analytics, Maker has reached an all-time high of $6.38 Bln in deposits locked as collateral. Compound Finance also has an all-time high of $8.7 Bln while Aave has $6.5 Bln. Between them, they have a sum of $21.58 Bln. Moreover, DappRadar & DeFi Pulse both suggest the combined figure for the trio of protocols is presently more like $17 Bln. Meanwhile, centralized finance platform Celsius Network is additionally performing well in terms of users and collateral lockup. Consistent with a 15th Feb. report, Celsius has paid over $250 Mln in cryptocurrencies yield to its users, has over 415k users, and manages over $8 Bln in cryptocurrency assets.

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