As the crypto markets rebound again, so too will the DeFi TVL. Numerous protocols note a substantial influx of funds these past 24 hours. Although none of these projects are significant players, it shows decentralized finance needs bullish market momentum to reclaim lost ground.
SolidlyDEX (Ethereum)
The Ethereum ecosystem has many different decentralized exchanges and trading solutions. Uniswap is the primary avenue, but dozens of other opportunities exist. One such project is SolidlyDEX, which welcomed an 80% TVL increase in the past day. The DEX is a “self-optimizing protocol combined the best of Curve and Uniswap. Unfortunately, the native SOLID token represents over 90% of the TVL, although there is a decent amount of USDC, WETH, and USDT too.
Level Finance (BNB Chain)
Derivatives trading is an excellent way to gain crypto price exposure without holding specific assets. Traders can “bet” on the price of supported assets and their future performance to maximize profits. Level Finance is a decentralized perpetual exchange that primarily supports BUSD, BNB, USDT, BTCB, ETH, LVL, and CAKE assets. Most of the liquidity resides in BUSD and BNB. Moreover, the recent 61.89% TVL increase emphasizes this DeFi protocol more strongly.
Sonne Finance (Optimism)
Although there has been a steep dip in overall Optimism network activity, Sonne Finance tries to buck the trend. The decentralized lending protocol for individuals, institutions, and protocols notes a healthy balance of USDC, DAI, USDT, and WETH assets. In addition, it supports OP, WBTC, SUSD, and SNX. The protocol received a 43.86% TVL increase in the past 24 hours. DeFi on Optimism still has potential to succeed, although its native protocols will need more overall liquidity.
API3 (Ethereum)
Using a decentralized oracle solution to create Web3 solutions and applications can prove crucial in current and future industry development. API3 aims to provide that service and focus on efficiency, regulatory compliance, and simplicity. The protocol’s TVL is entirely made up of API3 tokens staked in the DAO Pool contract. The 35.87% one-day TVL increase is remarkable for this DeFi protocol. However, it comes from the price increasing by a significant margin, rather than more deposits into the contract.
The post These 4 Smaller DeFi Protocols Note Strong TVL Gains This Weekend appeared first on CryptoMode.
Disclaimer
For paid/sponsored articles, FintechMode neither endorses nor takes responsibility for the accuracy, timeliness, quality, and content of said articles. The statements, views and opinions expressed in paid/sponsored articles are solely those of the content provider and readers are reminded that Cryptocurrency products are unregulated in most locations and can be highly risky. Do your own research and consult relevant financial experts before making any investment decisions. FintechMode will not be held accountable, either directly or indirectly, for any harm or loss that may stem from or be linked to the usage or reliance on any information, goods, or services mentioned on this page. If you have any concerns, please email [email protected] or refer to our Terms & Conditions
