Other sites that have followed DeFi Pulse’s lead also include DeBank and Defistation, among others. That includes other chains such as Binance Smart Chain and Solana. Today, DeFiLlama, which estimates the scale of Defi across all blockchains, puts the multichain TVL at a whopping $227B. It’s not affordable, and congestion is sometimes crazy, but there is no more vibrant and creative place to be for DeFi than on Ethereum,” Haseeb Qureshi, of Dragonfly Capital, told The Defiant.īut a part of what’s changed about DeFi, though, is that it has expanded well beyond Ethereum.
“Ethereum at this point has cemented itself as the capital city of DeFi. It’s known as “total value locked” and it has become the default indicator for a market’s health. This idea of taking advantage of the open nature of Ethereum to create a metric based on these deposits’ dollar-value originated with DeFi Pulse. This milestone means there is now more than $100B worth of crypto assets sitting inside applications and earning yield and waiting for someone to make use of them.
10.ĭeFi Pulse first logged $1B in assets locked in early July 2020, meaning it took around 15 months for it to 100X the size of the market. The site has been teasing the threshold since early September, when it hit $98B on Sep. Now DeFi Pulse, which measures the total dollar value of assets that have been committed to DeFi applications on the Ethereum blockchain, has just crossed the $100B mark. Ever since DeFi Pulse launched its website in February 2019, the world of decentralized finance (DeFi) has completely changed.
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