Total Value Locked in DeFi Surpasses $6 Billion

DeFi

There are now over $6 billion worth of bitcoin and ether locked in the decentralized finance space, as more and more protocols cross the one billion dollar mark, and make progress on their roadmaps.

According to data from DeFiPulse, there are now over $6.3 billion locked in the decentralized finance space, and three projects have over $1 billion worth of cryptoassets locked in them: Maker, Aave, and Curve Finance.

Maker is the protocol that issues the crypto-backed stablecoin DAI, while Aave is a lending protocol that recently announced the launch of a distributed governance testing on Ethereum’s Rospten testnet. Curve Finance is a stablecoin swap platform that recently launched the CRV token and the CurveDAO.

The majority of the value locked in the decentralized finance space is still on the Ethereum network, with users locking in funds to earn interest on their cryptocurrency holdings, or to take out cryptocurrency-backed loans from lending protocols. Read More

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When I came up with Ethereum, my first first thought was, 'Okay, this thing is too good to be true.' As it turned out, the core Ethereum idea was good - fundamentally, completely sound