According to data from mid-March, the top five blockchains control more than 82 percent of the total $198 billion TVL in decentralized finance (defi) across all blockchains. In addition, decentralized exchange (dex) platforms and lending applications are available on each of these chains, allowing people to designate their finances in various ways.
21 Defi Protocols are available on five Blockchain networks
The total value of defi (TVL) currently stands at just under $200 billion, but that doesn’t include the large number of tokens linked to these protocols. Eighty-two percent of the $198 billion in defi protocols are currently locked up in five different blockchains TVLs. Among them are Ethereum, Terra, Binance Smart Chain, Avalanche, and the Solana chain, all of which are decentralized ledgers.
Ethereum
Ethereum has the largest TVL at the moment, with a total of $108.51 billion, or 54.59 percent of the total value. On March 14, Curve Finance had $17.72 billion in TVL, making it the top decentralized exchange (dex) platform linked to Ethereum. Makerdao, the second-largest TVL in defi today, is Ethereum’s top collateralized debt position (CDP) application.
Lido is Ethereum’s top defi protocol for liquid staking, while Convex Finance is Ethereum’s top-yielding protocol. Finally, Ethereum’s defi application Aave, with an $11.35 billion TVL, is the largest lending protocol.
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Terra
With a TVL of $25.79 billion or 12.98 percent of the overall TVL in defi, Terra is the second-largest chain in the sector. Astroport is Terra’s most widely used dex, and Lido is the largest liquid staking in the universe. However, pylon Protocol, Terra’s most popular product, has the highest TVL in terms of yield.
Terra does not currently have a CDP application, but the largest lending application on the blockchain, Anchor, has $13.03 billion in total locked value. There has been a 63.23 percent rise in the TVL value of defi lending protocol Anchor in the last 30 days.
The Smart Chain of Binance
With $11.73 billion in defi TVL or 5.9% of the total, the Binance Smart Chain (BSC/BNB) is the third-largest blockchain today in terms of defi TVL. Pancakeswap is the best dex on BSC, and Mars Ecosystem is the biggest CDP application.
Liquid staking isn’t available through BSC, but Alpaca Finance has the highest yield. Venus is the most popular defi lending protocol on BSC in terms of value.
Avalanche
This week, an avalanche of $10.88 billion (or 5.47 percent) is Avalanche’s share in decentralized finance, making it the fourth-largest player. Trader Joe’s is currently the most popular Avalanche dex application, and Defrost is the most popular CDP on the blockchain.
The Yield protocol is the best in terms of yield. On Avalanche, Yak is the leader, and Benqi is the top liquid staker. As of this writing, Aave is Avalanche’s most popular lending protocol, in the same vein as Ethereum.
Solana
Last but not least, in mid-March 2022, Solana has a TVL of $6.69 billion, or 3.37 percent of the total defi held today. The serum is Solana’s top dex, and Parrot Protocol is the blockchain’s CDP leader.
Marinade Finance leads Solana’s liquid staking apps, and its yield-leading protocol is Quarry. Solend has the week’s largest Solana loan application locked at $575.3 million.
More than 862 Lending, CDP, Yield, Liquid Staking, and Dex Apps are Available Besides the Top 5 Chains.
Many blockchains and applications are now available, but most of the money in defi is in the five blockchains and the dozens of protocols. It’s possible to swap and lend crypto using 384 dex applications, and 125 lending defi protocols are available. There are 16 liquid staking apps among the 328 defi apps that offer some sort of yield. Stablecoin assets can be issued using 30 different CDP protocols.
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