This year, the decentralized finance (DeFi) projects that stand out in terms of total locked asset (TVL) value have been announced.
The top five of the year in DeFi projects, which are described as an integral part of the cryptocurrency market, have been announced. Leveraging DeFiLlama data, Blockworks determined that the DeFi project with the highest TVL in 2023 $95 million by volume Maker (MKR) He stated that it was. Maker has been able to stand out by gradually purchasing US Treasury bonds since 2022, earning returns from rising interest rates.
Second on the list is Lido Finance (LDO) took place. Average TVL of LDO in 2023 $55 million It was recorded as. Lido Finance Ethereum’s future in 2022 proof of stake (PoS) By taking advantage of its move, it managed to stand out from its competitors by starting to offer staked Ethereum (stETH) service, which gives users staking rewards or can be used as collateral.
In third place is the cryptocurrency exchange supported by Binance. PancakeSwap (CAKE) took place. PancakeSwap’s 2023 TVL $52 million It was reported as. Operating as a decentralized exchange (DEX), PancakeSwap launched the platform last March. V3 version offered to its users.
fourth on the list $42 million with TVL Convex Finance (CVX) took place. Convex Finance enables users to earn money by staking tokens they obtain through Curve (CRV). to earn passive income acts as an intermediary.
esk ranks fifth among DeFI projectsi BitMEX CEO Arthur Hayes One of your favorite projects GMX (GMX) took place. GMX $37 million With TVL, it managed to stand out among its competitors. This DEX, which allows investors to make futures transactions, has managed to satisfy its users with its reliable and stable service so far.
TVL data, which is used as the primary success criterion of DeFi projects, is data that may change from day to day and users need to conduct more detailed research before investing.