The biggest Decentralized Finance protocols in terms of TVL - how much crypto is deposited in the system - were MakerDAO and Compound. Protocols are autonomous programs based on a set of rules and smart contracts that enable the exchange of financial services among users - including stablecoins. Dai (DAI), for example, is the stablecoin of the MakerDAO protocol. Protocols can also include financial applications: Curve (CVR), for example, is a decentralized protocol aimed at crypto borrowing. The overall DeFi market size reached 274 billion U.S. dollars as of November 2021.
Largest protocols in terms total value locked (TVL) across multiple blockchains as of June 29, 2022
(in billion U.S. dollars)
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DefiLlama. (June 29, 2022). Largest protocols in terms total value locked (TVL) across multiple blockchains as of June 29, 2022 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1276148/defi-leading-protocols-across-multiple-blockchains/
DefiLlama. "Largest protocols in terms total value locked (TVL) across multiple blockchains as of June 29, 2022 (in billion U.S. dollars)." Chart. June 29, 2022. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1276148/defi-leading-protocols-across-multiple-blockchains/
DefiLlama. (2022). Largest protocols in terms total value locked (TVL) across multiple blockchains as of June 29, 2022 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1276148/defi-leading-protocols-across-multiple-blockchains/
DefiLlama. "Largest Protocols in Terms Total Value Locked (Tvl) across Multiple Blockchains as of June 29, 2022 (in Billion U.S. Dollars)." Statista, Statista Inc., 29 Jun 2022, https://www.statista.com/statistics/1276148/defi-leading-protocols-across-multiple-blockchains/
DefiLlama, Largest protocols in terms total value locked (TVL) across multiple blockchains as of June 29, 2022 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1276148/defi-leading-protocols-across-multiple-blockchains/ (last visited December 21, 2024)
Largest protocols in terms total value locked (TVL) across multiple blockchains as of June 29, 2022 (in billion U.S. dollars) [Graph], DefiLlama, June 29, 2022. [Online]. Available: https://www.statista.com/statistics/1276148/defi-leading-protocols-across-multiple-blockchains/
