At a glance, which of the top five projects of the eight ecological TVL is stronger in attracting funds?

Interpretation of various ecological head projects, who will be the next batch of outbreaks?

Since the beginning of this year, the new public chain/side chain has set off a new round of upsurge. From BSC at the beginning of the year, to Polygon and Solana in the middle of the year , to Fantom, Avalanche and Terra today, major ecosystems have flourished, infrastructure has gradually matured, and a variety of applications have blossomed, and the amount of lock-up funds attracted has repeatedly reached new highs.

However, after a round of outbreaks, has the imagination space of the public chain shrunk, and can new ecological projects take off again? Today, Odaily Planet Daily came to take stock of the leading projects (40 in total) of the eight leading public chains, side chains, and second-tier network ecology, trying to answer this question.

At the same time, I hope to find the next growth point through combing. After all, the leading projects in the ecology have a greater chance of landing on the first-line trading platform. For example, Tranchess (CHESS), which was launched on Binance recently, has a TVL (total lock-up amount) of US$1.64 billion, ranking third in the BSC ecosystem.

In order to unify the calculation standard, the data in this article are all from DeFi Llama (November 4, 2021). 

The new public chain is top-heavy and needs to be improved urgently

Before introducing each ecological head project one by one, put the overview and conclusion to the front:

At present, the current total lock-up value (TVL) of the entire DeFi ecosystem is US$256.86 billion.

According to TVL ranking, we finally selected eight smart contract platforms: Ethereum ($172.6 billion), BSC ($19.85 billion), Solana ($14.92 billion), Terra ($10.72 billion), Avalanche ($8.74 billion) ), Fantom ($5.43 billion), Polygon ($5.17 billion), and Arbitrum ($2.72 billion).

In the past October, the TVL of the above ecology has increased significantly. Avalanche, Fantom and Avalanche performed well, and TVL increased by more than 100%. In particular, Fantom and Avalanche surpassed Polygon. Polygon did not grow much and seemed to stagnate.

If you put the statistical time after the second half of the year, you will find that the above trend is more obvious. Since July, Avalanche TVL has a cumulative increase of 4500%, ranking first; Fantom TVL has a cumulative increase of 2750%, ranking second; Terra TVL has a cumulative increase of 220%, ranking third. However, Polygon TVL did not record positive growth and fell by 5%. It is worth noting that the TVL growth rate of the relatively mature Ethereum exceeds that of the emerging competitive chain BSC. A very important reason is that the growth rate of ETH exceeds that of BNB, so it has obtained higher TVL data results under the dollar price.

Of course, the high growth rate of TVL does not mean that the ecological development has matured rapidly. Odaily Planet Daily also calculated the proportion of TVL in the top five and top ten projects of the eight platforms in the TVL ecosystem. 

Take Terra as an example. The total TVL of the top five ecological projects accounted for 96.56% of the entire Terra TVL, and the total TVL of the top ten projects accounted for 99%. This means that most of the funds are from a few Project contribution, the tail project is not attractive and competitive at all; in contrast, ETH, the sum of the top five projects accounted for only 44%, less than half, and the ecological diversity is strong.

In fact, due to the short development time of the new public chain, it is generally faced with the problem of “top-heavy”, which is the difficulty to be solved in the next. You know, if you rely on only one or a few projects, it will be difficult to hold up the ceiling of the new public chain in the future.

In addition, among the top 40 projects we have counted, many projects adhere to the multi-chain development model. Among them, the most cross-chain project is Curve. Cross-chain expands the flow path for it, and also supports the fundamentals of Curve in the secondary market. In the past six months, CRV rose by more than 350%, leading the mainstream currency and DeFi currency.

However, not all projects adhere to the strategy of cross-chain coordinated development. For example, the Solana ecological project, whether it is the top five or the top ten projects, only takes root in Solana and has not expanded outward. To some extent, the Solana ecological project is now closed.

Finally, if we look at the “types” of the 80 projects (each ecosystem takes the top ten TVL projects), DEX (28) appears the most, followed by loans (18) and aggregators (17). ), and finally synthetic assets (5) and stable coins (5).

Of course, the focus of different ecology is different. For example, in BSC, 4 aggregator-type projects appeared in the top ten TVLs; while Solana and Polygon preferred DEX, and the top ten TVLs had 5 and 6 DEX projects respectively.

(There are many analysis angles not covered in this article. Interested readers can click on the link to find the highlights: https://defillama.com/chain/Solana)

List of major ecological head projects

The following is a summary of the top five TVL projects in the eight major ecosystems, for a total of forty (some of which have overlapping projects):

(1) Ethereum ecology

  • Project name: MakerDAO

TVL: $18.21 billion

Project introduction: MakerDAO is a decentralized autonomous organization and smart contract system on Ethereum. It is known as the “crypto central bank”. At present, the largest decentralized stable currency DAI is issued by it. Users can over-collateralize cryptocurrencies such as ETH through the multi-collateral system to lend out DAI. In addition, the Maker platform has also cooperated with traditional financial institutions to introduce assets such as accounts receivable and securities into the encrypted market.

Official website: https://makerdao.com/

  • Project name: Curve

TVL: 17.63 billion US dollars

Project introduction: Curve is a DeFi automatic market maker project (AMM) that provides stable currency exchange services. By providing liquidity to the Curve smart contract, users can obtain capital pool revenue, and at the same time, they can also obtain its governance token CRV. Additional benefits. Curve aims to use advanced bonding curves to create a deeper level of liquidity on the blockchain.

Official website: https://curve.fi/

  • Project name: Wrapped Bitcoin

TVL: US$14.49 billion

Project introduction: Wrapped Bitcoin is referred to as WBTC. The token is issued on Ethereum and is 1:1 linked to Bitcoin . All WBTC issued will get 100% Bitcoin as an asset reserve, anchored 1:1, and can be on-chain Verification; when the holder converts WBTC to Bitcoin, WBTC will be destroyed.

Official website: https://wbtc.network/

  • Project name: Convex Finance

TVL: US$14.46 billion

Project introduction: As another revenue aggregator on the Ethereum chain, Convex Finance aims to use CVX tokens to simplify the process of locking and pledge of Curve and CRV through a simple and easy-to-use interface, and to improve CRV holders and liquidity Provider’s compensation to promote the development of the CRV ecosystem. Simply put, Convex Finance is a “CRV pledge and liquidity mining one-stop platform” dedicated to simplifying the use of Curve.

Official website: https://www.convexfinance.com/

  • Project name: Instadapp (INST)

TVL: $12.17 billion

Project introduction: InstaDApp is a user-oriented decentralized asset management protocol. It currently provides efficient asset management functions for Aave, Compound, and Maker. Users can track blockchain assets distributed on multiple platforms and move these assets between different platforms according to financial paradigms and real-time market prices. Its goal is to simplify the complexity of DeFi and eventually become the unified front end of DeFi.

Official website: https://instadapp.io/

(2) BSC ecology

  • Project name: PancakeSwap

TVL: $6.27 billion

Project introduction: PancakeSwap is the number one decentralized trading platform on Binance Smart Chain, which supports users to obtain its governance token CAKE through mining. As one of the benchmark projects on BSC, PancakeSwap was supported by Binance’s first phase of “US$100 million BSC Ecological Acceleration Plan”. In addition to transactions, PancakeSwap also launched the new coin mining pool “Syrup Pool”, IFO (initial farming sale), mini games (similar to buying lottery tickets), and the issuance of its own NFT collection around the use of CAKE.

Official website: https://pancakeswap.finance

  • Project name: Venus (XVS)

TVL: US$2.5 billion

Project introduction: Venus Protocol is a money market protocol that aims to integrate a decentralized lending system into the Binance Smart Chain to facilitate faster, lower-cost, and broader currency transactions. In addition, based on the Binance smart chain “Venus”, a decentralized stable currency VAI supported by a basket of BEP-20 tokens will be minted. Venus can be seen as a hybrid of MakerDAO and Compound.

Official website: https://venus.io/

  • Project name: Tranchess

TVL: $1.64 billion

Project introduction: Tranchess is a structured fund that caters to investors with different risk appetites. It was launched in June 2021. Currently, only Bitcoin-specific funds have been launched. It consists of three tranche tokens (QUEEN, BISHOP and ROOK) and its governance token CHESS. It is divided into three layers to meet the needs of three user groups: stable income (Tranche BISHOP), leveraged trading (Tranche ROOK) and long-term Hold (Main Tranche QUEEN). Compared with machine gun pools such as YFI, the advantage of a structured fund such as Tranchess is that the product will be suitable for more people-to meet different needs and switch without friction. Compared with a single product, the capital efficiency will be higher.

Official website: https://tranchess.com/

  • Project name: Alpaca Finance

TVL: $1.45 billion

Project introduction: Alpaca Finance is the largest lending agreement among the platforms that provide leveraged farms on BSC. We help lenders earn safe and stable income, and provide borrowers with insufficient mortgages to obtain leveraged farm position loans, which maximizes the principal benefits of farmers’ mining and can generate multiple returns.

As the promoter of the entire DeFi ecosystem, Alpaca amplifies the liquidity layer on the integrated exchange and improves its capital efficiency by connecting LP borrowers and lenders.

Official website: https://www.alpacafinance.org/

  • Project name: MDEX (MDX)

TVL: US$820 million

Project introduction: MDEX is an automatic market-making decentralized cross-chain transaction protocol based on the concept of capital pools. It is committed to building a DeFi platform integrating DEX, IMO, and DAO. It currently supports BSC, HECO and Ethereum, aiming to integrate multiple chains Advantages, support liquidity mining and transaction mining “dual mining incentives”.

Official website: https://mdex.com/

(3) Solana ecology

  • Project name: Raydium

TVL: US$2.07 billion

Project introduction: Raydium is an automated market maker (AMM) built on the Solana blockchain. It uses the central order book of the Serum decentralized trading platform (DEX) to achieve fast transactions, shared liquidity, revenue opportunities, and new project launches. RAY is the platform’s native functional token, used for liquidity mining incentives, mortgages, new project launch qualifications, and participation in future governance.

Official website: https://raydium.io/

  • Project name: Serum

TVL: $1.84 billion

Project introduction: Serum is the first decentralized exchange on the Solana chain. It was founded by the Project Serum team and has reached strategic cooperation with other top crypto asset traders and experts in the DeFi field. Serum can conduct cross-chain transactions that do not require trust at all, and supports the transaction of derivatives on the chain.

Official website: https://www.projectserum.com/

  • Project name: Marinade

TVL: $1.77 billion

Project introduction: Marinade Finance is a liquid staking solution on the Solana blockchain. Users can pledge their SOL on the Marinede platform and get mSOL in return. mSOL represents the SOL you pledge + the block reward generated by it. Marinade distributes SOL to as many reliable validators as possible by using an automatic staking strategy, thereby helping to decentralize and protect the Solana network.

Official website: https://marinade.finance/

  • Project name: Saber

TVL: $1.68 billion

Project introduction: Saber was previously called StableSwap, bringing Curve to the Solana ecosystem. It is an automatic market maker for stablecoins on the Solana blockchain, allowing users to operate on a familiar exchange interface.

Official website: https://saber.so/

  • Project name: Sunny

TVL: $1.31 billion

Project introduction: Sunny is a DeFi income aggregator in Solana ecology, currently providing dozens of LP asset pairs. The design of the Sunny protocol takes composability as a core function, enabling other applications and protocols to be easily built on top of it.

Official website: https://app.sunny.ag/

(4) Terra ecology

  • Project name: Anchor Protocol

TVL: $4.33 billion

Project introduction: Anchor Protocol is created based on the stablecoin project Terra Money. It is a new type of savings protocol that aims to balance interest rates by coordinating block rewards from multiple different PoS consensus blockchains, and finally achieve stable yield storage. interest rate. Simply put, Anchor Protocol does not determine the lending rate based on the algorithm of supply and demand, but directly provides a fixed lending rate.

Official website: https://anchorprotocol.com

  • Project name: Lido

TVL: $3.35 billion

Project introduction: Lido Finance was originally an Ethereum 2.0 pledge liquidity solution, aiming to provide liquidity for users to pledge ETH. It has now been expanded to Terra and Solana networks to provide liquidity for related token pledges.

Official website: https://lido.fi/

  • Project name: Mirror Protocol

TVL: $1.29 billion

Project introduction: Mirror Protocol is a synthetic asset protocol launched by the stablecoin project Terra, which can track the prices of stocks, futures, exchange-traded funds and other traditional financial assets, thereby integrating the cryptocurrency market with the traditional market. Mirror plans to use synthetic asset mAssets to solve this problem. By reflecting the transaction price on the chain to “mirror” the price of real-world assets, traders can conduct price transactions on real assets. The issuer of mAssets must lock in more than 150% of the current asset value of Terra stablecoin or more than 200% of the current asset value of other mAssets as a guarantee. mAssets uses a decentralized price oracle machine to track the price of underlying assets (such as Apple stock or gold).

Official website: https://mirror.finance/

  • Project name: Terraswap

TVL: $1.19 billion

Project introduction: Terraswap is an automated market maker (AMM) protocol inspired by Uniswap. It was launched on November 13, 2020. Users can directly trade local Terra assets (LUNA, UST, KRT, etc.) and users on the Terra blockchain. Define the CW20 token.

Official website: https://terraswap.io/

  • Project name: Spectrum Protocol

TVL: US$190 million

Project introduction: Spectrum is the first decentralized revenue optimizer platform on Terra. It is similar to other Ethereum native aggregation tools (such as Yearn Finance). It can automatically synthesize and automatically mortgage your Mirror and Anchor mining rewards. Spectrum’s current flagship product is Vaults, where users can pledge their assets and choose between two fuel-saving strategies: automatic compound and automatic pledge.

Official website: https://spec.finance/

(5) Avalanche ecology

  • Project name: AAVE

TVL: US$2.76 billion

Project introduction: Aave is a decentralized lending platform, its predecessor is ETHLend. In January 2020, Aave re-launched a new lending contract agreement, introducing the lending function of a decentralized lending pool. At the same time, Aave is also the pioneer of unsecured flash loans.

Official website: https://aave.com/

  • Project name: Trader Joe

TVL: $1.88 billion

Project introduction: Trader Joe is a one-stop trading platform on Avalanche, providing trading and lending functions, and combining them to provide leveraged trading.

Official website: https://traderjoexyz.com/

  • Project name: BENQI

TVL: $1.36 billion

Project introduction: BENQI is a decentralized non-custodial liquidity market protocol based on Avalanche. The agreement allows users to easily lend and borrow their digital assets and earn interest, and lenders who provide liquidity for the agreement can obtain passive income; the original token of the agreement is QI, which is used for the governance of the agreement.

Official website: https://benqi.fi/

  • Project name: Curve

TVL: US$690 million

Project introduction: Curve is a DeFi automatic market maker project (AMM) that provides stable currency exchange services. By providing liquidity to the Curve smart contract, users can obtain capital pool revenue, and at the same time, they can also obtain its governance token CRV. Additional benefits. Curve aims to use advanced bonding curves to create a deeper level of liquidity on the blockchain.

Official website: https://curve.fi/

  • Project name: Yield Yak

TVL: US$430 million

Project introduction: Yield Yak is a native DeFi protocol on Avalanche, which provides DeFi functions such as token exchange, mining, and pledge, and has its own token, YAK.

Official website: https://yieldyak.com/

(6) Fantom ecology

  • Project name: Geist Finance

TVL: $1.26 billion

Project introduction: Geist Finance allows users to borrow various cryptocurrency assets in the Fantom ecosystem. It was launched in October this year. Its function is similar to the DeFi blue chip Aave. Geist distributes 40% of its total GEIST tokens through a liquidity mining meter, and rewards are generous.

Official website: https://geist.finance/

  • Project name: SpookySwap

TVL: US$670 million

Project introduction: Spookyswap is the first automatic market making (AMM) decentralized exchange (DEX) of the Fantom Opera network. The governance token is BOO, which was launched in April this year.

Official website: https://spookyswap.finance/

  • Project name: Curve

TVL: US$620 million

Project introduction: Curve is a DeFi automatic market maker project (AMM) that provides stable currency exchange services. By providing liquidity to the Curve smart contract, users can obtain capital pool revenue, and at the same time, they can also obtain its governance token CRV. Additional benefits. Curve aims to use advanced bonding curves to create a deeper level of liquidity on the blockchain.

Official website: https://curve.fi/

  • Project name: Scream

TVL: US$460 million

Project introduction: SCREAM is a Fantom-based decentralized lending agreement. It aims to improve the overall capital efficiency of a wider range of Fantom-based assets. The goal is to create a one-stop shop for loan products on the Fantom network. Community governance is expected to be in 2021 Full implementation in the third quarter and fourth quarter of the year.

Official website: https://scream.sh/

  • Project name: Beefy Finance

TVL: US$410 million

Project introduction: Beefy Finance is a decentralized finance (DeFi) revenue optimizer project that allows its users to use cryptocurrencies to earn more cryptocurrencies. Through a set of smart contracts and multiple investment strategies, Beefy Finance automatically maximizes user rewards from various liquidity pools (LPs), automated market making (AMM) projects and other liquid mining opportunities in the DeFi ecosystem .

Official website: https://www.beefy.finance/

(7) Polygon ecology

  • Project name: AAVE

TVL: US$2.11 billion

Project introduction: Aave is a decentralized lending platform, its predecessor is ETHLend. In January 2020, Aave re-launched a new lending contract agreement, introducing the lending function of a decentralized lending pool. At the same time, Aave is also the pioneer of unsecured flash loans.

Official website: https://aave.com/

  • Project name: Quickswap

TVL: US$770 million

Project introduction: QuickSwap is a Layer 2 decentralized trading platform that conducts transactions at lightning speed with close to zero gas fees. They cooperated with Transak to support users to directly purchase USDC based on the Polygon network through the means of bank card payment or transfer payment.

Official website: https://quickswap.exchange/

  • Project name: SushiSwap

TVL: US$490 million

Project introduction: SushiSwap is a decentralized trading platform, cloned from Uniswap, 0.25% of its transaction fee is directly distributed to active liquidity providers.

Official website: https://sushi.com/

  • Project name: Curve

TVL: US$400 million

Project introduction: Curve is a DeFi automatic market maker project (AMM) that provides stable currency exchange services. By providing liquidity to the Curve smart contract, users can obtain capital pool revenue, and at the same time, they can also obtain its governance token CRV. Additional benefits. Curve aims to use advanced bonding curves to create a deeper level of liquidity on the blockchain.

Official website: https://curve.fi/

  • Project name: Balancer

TVL: US$190 million

Project introduction: Balancer is a decentralized exchange based on Ethereum. Users get commissions and token rewards through market making on Balancer; Balancer is completely open source, and anyone can create a liquidity pool in the platform without restrictions.

Official website: https://balancer.finance/

(8) Arbitrum ecology

  • Project name: Curve

TVL: US$650 million

Project introduction: Curve is a DeFi automatic market maker project (AMM) that provides stable currency exchange services. By providing liquidity to the Curve smart contract, users can obtain capital pool revenue, and at the same time, they can also obtain its governance token CRV. Additional benefits. Curve aims to use advanced bonding curves to create a deeper level of liquidity on the blockchain.

Official website: https://curve.fi/

  • Project name: SushiSwap

TVL: US$570 million

Project introduction: SushiSwap is a decentralized trading platform, cloned from Uniswap, 0.25% of its transaction fee is directly distributed to active liquidity providers.

Official website: https://sushi.com/

  • Project name: Abracadabra

TVL: US$440 million

Project introduction: BRACADABRA.MONEY is a stablecoin protocol based on interest-bearing assets. In addition to being deployed on Ethereum, it also integrates with L2 and side chains to further reduce the cost of users participating in the protocol. Among so many DeFi protocols, it is a relatively community-based project. Tokens are circulated through fair distribution, and tokens distributed through IDO account for 7%. The team itself does not disclose much information. The project sponsor is Daniele Sestaylor.

Official website: https://abracadabra.money/

  • Project name: Synapse Protocol

TVL: US$290 million

Project introduction: Synapse Protocol is a cross-chain layered protocol, upgraded from Nerve, which can improve the interoperability between blockchains. It consists of two core parts: Synapse Network and Synapse AMM. Synapse Network is a cross-chain infrastructure supported by multi-party computational validators that collectively respond to events on the blockchain connected by the Synapse network. Synapse AMM is a cross-chain AMM supported by a network that price and rebalance assets based on capital flows.

Official website: https://nerve.fi/

  • Project name: Balancer

TVL: US$120 million

Project introduction: Balancer is a decentralized exchange based on Ethereum. Users get commissions and token rewards through market making on Balancer; Balancer is completely open source, and anyone can create a liquidity pool in the platform without restrictions.

Official website: https://balancer.finance/

Summarize

TVL is only a reference indicator among many development data, and it does not fully represent the true operating status of a project.

For example, some projects focus on basic agreements or privacy protection, so their TVL is not high; there are also some loan agreements, where there are double pledges, which push up their TVL.

Therefore, the above statistical results are for reference only and do not constitute investment advice.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/at-a-glance-which-of-the-top-five-projects-of-the-eight-ecological-tvl-is-stronger-in-attracting-funds/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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