DeFi continues to grow as new protocols grab market share
July 18, 2019, 6:50AM EDT · 2 min read
Quick Take
- The total value locked in DeFi protocols has grown from $181 million in July 2018 to more than $500 million now
- About 2% of ether’s total supply (~2.1 million ETH) is currently locked in DeFi protocols
- In December 2018, more than 91% of the total value in DeFi was locked in Maker but its dominance has since fallen by more than 20%
- Maker is followed by Compound (~12% of total value locked), Synthetix (3.7%), Uniswap (3.5%), Nuo Network (3.4%), Dharma (2.5%) and InstaDApp (2.2%)
- If DeFi continues to grow at the same pace as in 2019, the total value locked would surpass $1.5 billion by the end of 2020
Decentralized Finance (DeFi), non-custodial financial protocols run (mostly) on top of Ethereum, have seen significant growth throughout the last year. The existing DeFi protocols can be categorized into five categories: Lending (Maker, Compound, Dharma, etc.) Derivatives and prediction markets (Synthetix, Augur, etc.) Decentralized exchanges (Uniswap, DutchX, Bancor, etc.) Payment channels (xDai, etc.) Asset management (Set […]
This report is for Research Members
Join The Block Research for exclusive research like this
Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.
Learn More Already a Research Member? Sign In