Total borrowing in the decentralized lending market exceeds US$30 billion

On September 3, the total borrowing volume of cryptocurrency decentralized lending exceeded US$30 billion.

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It can be known by querying Debank’s DeFi rankings.

As of 10 am on September 3rd. The top three DeFi agreements are: 1. Compound: total borrowings of USD 9.34 billion; 2. Aave V2: total borrowings of USD 9 billion; 3. Maker: total borrowings of USD 6.36 billion.

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Ranked fourth, fifth is not already Ethernet Square application on the chain, but aave and BSC of Venus on the polygon. They were 2.1 billion US dollars and 1.28 billion US dollars.

These loan agreements are all done through over-collateralization. It also means that there will be a larger amount of locked assets to support such a high amount of borrowing.

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You can check the lock-up amount of the corresponding defi project to confirm.

Currently, Compound’s lock-up is $12.8 billion, Aave V2 is $13.3 billion, and Maker is $13.5 billion. Aave on polygon and Venus of BSC are locked at $2.2 billion and $3.2 billion, respectively.

This means that after the new expansion chain is online, many defi protocols have been diversified. Protocols that are difficult to gain users’ favor on Ethereum are all developed on other chains.

For example, BSC, Polygon , Fantom, and HECO are all active with a large number of loan lines.

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2RKV3hGl8cgZFTNyDdyxwPKcKEF6mFo7Q49vGbSe.pnglcCxk56lzj57OeE2XignGW3tpbZPT3hPOeX2B8z4.pngi5RiALHsOC0jsaoLw7kuCECw05kvPjxpcVI0iljB.pngFor example, Cream has deployed applications on BSC, Polygon, and Fantom, and the total borrowing volume excluding Ethereum exceeds US$50 million. Achieved an increase in the total amount of borrowing outside of Ethereum.

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Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/total-borrowing-in-the-decentralized-lending-market-exceeds-us30-billion/
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