Total value locked, or dYdX TVL is $130.02 million as of Apr. 12.
According to DefiLlama, TVL for dYdX has surged by an impressive 18,381% over the past 30 days in Decentralized Finance (DeFi).
Two protocols are currently operational in the chain. Most of the dYdX TVL is attributed to dYdX V4, which is categorized as a derivative. However, Stride’s most significant growth, which focuses on liquid staking, was observed.
According to DefiLlama data, TVL in Stride surged by 676% over the week, with a monthly growth of 585%.
For context, Stride’s TVL stood at $89.25 million on Jan. 31. By Apr. 12, this figure had risen to $187.49 million.
On Jan. 18, the dYdX V4 exchange surpassed Uniswap V3 to claim the top spot among DEXs in daily trading volume, with $757 million traded, compared to its rival’s $608 million.
According to Layer2 Insider data, as of the end of February, liquid staking holds the highest total value locked in the decentralized space, amounting to $46.5 billion.
To verify this information, you can refer to DefiLlama’s ranking of TVL among all DeFi protocols. Lido, a major player in the liquid staking space, currently holds the first position with a TVL of $33.32 billion.
Indeed, it’s notable that EigenLayer holds the second position after Lido in the TVL ranking, with $13.82 billion. EigenLayer is actively involved in liquid staking, and it’s worth mentioning that the project recently launched its mainnet on the Ethereum blockchain.
Liquid staking is indeed a form of staking that enables users to utilize their assets even while they are locked in a staking pool. Essentially, when a user deposits their tokens into a staking pool, those tokens are locked.
However, liquid staking makes it possible to unlock the assets by using them as collateral for cryptocurrency loans or other financial transactions. This allows stakers to maintain liquidity and access their staked assets’ value without waiting for the staking period to end.
The emerging Web3 infrastructure initiative outlines an incentive-driven model connecting verified cooling performance with Efficiency…
The Stewardship Standard draws on more than three decades of hospitality leadership to help leaders…
Cybersecurity engineer Asante Babers, based in the United States, is encouraging people to review their…
Growing community highlights the power of education, consistency, and shared experiences while introducing a new…
Developer shares why memorable commercial spaces encourage connection and support local businesses. ORLANDO, FL, Aug 12,…
Joseph Leggs, a mechanic, machinist, and engine builder based in Escondido, California, shares how early…