New DeFi Pulse Stats Show Over $320 Million in Ethereum Now Stored in Dapps, MakerDAO Leads the Way
DeFi Pulse is the quintessential radar for the dawn of decentralized finance. Keep up with the metrics that matter from all major DeFi protocols and projects, e.g., Uniswap, Compound, MakerDAO. Quickly compare projects' growth and influence over a 24-hour period.
According to their stats, about $320 Million worth of ETH is currently stored in the numerous Dapps on the platform. MakerDAO’s DAI is the biggest reason for this as they themselves have $288 million ETH on their smart contracts. This notably is almost 2% of Etherum’s entire market cap.
Dai is an asset-backed, hard currency for the 21st century. The first decentralized stablecoin on the Ethereum blockchain. With Dai, anyone, anywhere has the freedom to choose money they can place their confidence in. It maintains its purchasing power.
Compound is second on the list but only have a locked value of just over $23 Million. They are similar to DAI but not restricted to only stablecoins. The idea is simple. You can lock wrapped eth (WETH), which is basically eth trustless tokenized – or for now BAT, ZRX, Augur and soon DAI – in the smart contract, and then you can borrow about 67% of the amount you put in.
The Lightning Network comes forth with a locked in with an amount of $2.8 Million. However it is said that it’s not the value locked, but the value available to route around, called network capacity.
Others that have made it to the top 10 list are Uniswap, Augur, WBTC, Kyber, Dharma, Veil, and xDai.