Uniswap Becomes First DeFi Protocol With Locked Value Over $ 2 Billion

High-level decentralized exchange protocol #Uniswap became the first DeFi protocol to exceed $ 2 billion in total locked-down value (TVL)

According to DeFi Pulse, the platform that monitors such movements, Uniswap's TVL, ie the total value of all assets invested in the protocol; $ 2.03 billion at the time of writing. Ethereum (ETH), Tether (USDT) and Wrapped Bitcoin (wBTC) are the top three tokens in Uniswap in terms of liquidity.

Among other DeFi protocols, Uniswap's dominance is seen at approximately 18%. As the Yield farming trend continues, the total locked-in value of all protocols has exceeded $ 11 billion.

The decentralized lending protocol #MakerDAO also appears to be close to $ 2 billion in terms of locked-in value on the platform. The #DAI stablecoin founder has a total deposit of $ 1.95 billion. Aave then follows MakerDAO with a locked total value of $ 1.54 billion.

According to The Block Research, while TVL is a buzzword in the DeFi space, it's not an ideal metric for analyzing DeFi effectiveness. Industry-specific parameters such as decentralized stock market volumes may also need to be considered.