Uniswap has become the first decentralized exchange with more than $2 billion in blocked funds. The total amount of blocked funds in the DeFi industry exceeded $11 billion.
According to the DeFi Pulse portal, currently the volume of blocked deposits on the Uniswap exchange is $2.06 billion. Uniswap’s dominance in the decentralized Finance (DeFi) market is 18%. ETH, as well as USDT and WBTC tokens, is the leader in terms of liquidity on the platform.
However, the decentralized credit Protocol MakerDAO is also approaching the $2 billion mark – the volume of blocked funds on the platform has reached $1.95 billion. In third place is the decentralized Protocol for lending Aave.
Interestingly, the total amount of deposits on DeFi platforms reached $1 billion in 2.5 years. In less than a year, this figure rose to $11 billion. This is due to the boom in “income farming”, where investors provide their funds to provide liquidity on DeFi platforms in exchange for rewards.
Recall that the Aave Protocol recently launched a new management system on the main Ethereum network. Thanks to the new development, users can vote for the adoption of “Aave improvement proposals” (AIP).