The whole worth of property dedicated to Polygon ($MATIC) presently stands at roughly $891 million, in keeping with DefiLlama. This measure, often known as Whole Worth Locked (TVL), gives a key indicator of the adoption and utilization scale of decentralized finance (DeFi) protocols on the Polygon blockchain. By inspecting the highest DeFi protocols on the Polygon chain based mostly on their present TVL in USD, we achieve perception into the community’s hottest and broadly used platforms.
Prime polygon protocols based mostly on complete worth locked
The whole worth of property locked in @0xPolygon $MATIC is roughly $891 million, in keeping with @DefiLlama. Let’s evaluate the highest DeFi protocols within the #Polygon chain in opposition to the present TVL in USD, to judge their adoption scale. pic.twitter.com/Sxyf6RzXnM
— TOP 7 ICO | #StandWithUkraine
(@top7ico) August 30, 2024
Based on the TOP 7 ICO report, Aave tops the record with a TVL of $324 million. Regardless of holding the highest place, Aave has skilled an 18.1% drop in its TVL over the previous 30 days. Aave’s market cap presently stands at $1.87 billion, reflecting its important presence within the DeFi ecosystem on Polygon.
Uniswap follows the second largest protocol on Polygon by TVL, valued at $226 million. Not like Aave, Uniswap has seen a notable improve in its TVL, up 39.2% within the final 30 days. Its market capitalization stands at $4.44 billion, indicating sturdy market confidence and adoption. Polymarket ranks third with a TVL of $106 million, representing a development of 21.3% over the previous month. This platform has no market cap listed, suggesting it could function otherwise from conventional DeFi protocols or be at a unique stage of improvement.
With a TVL of $54.3 million, Quickswap is the fourth largest protocol on the Polygon community. Nonetheless, over the previous month, the nation has skilled a 15.6% decline in TVL. Its market cap is reported at $25.2 million, which is comparatively modest in comparison with different main protocols.
Mid-level contenders and up to date efficiency
Tangible (TNG) and Spiko are subsequent on the record, every with a TVL of about $41 million. Tactile has seen a slight improve of two.47% in its TVL, whereas Spiko’s latest efficiency stays unchanged. Their market capitalizations should not listed, which can point out a unique valuation technique or a more moderen entry into the market.
Compound ($COMP) follows with a TVL of $31 million, experiencing a 7.48% decline in TVL over the previous month. The market cap is substantial at $387 million, indicating sturdy underlying fundamentals regardless of the latest dip.
Balancer (BAL), Stargate (STG), and Curve DAO (CRV) spherical out the record with TVLs of $22.2 million, $20.7 million, and $16.6 million, respectively. Every of those protocols noticed a lower in TVL: Balancer by 24%, Stargate by 7.94%, and Curve DAO by 8.67%. Their market caps additionally range, with Balancer at $112 million, Stargate at $59.9 million and Curve DAO at $340 million, reflecting totally different ranges of adoption and investor curiosity.
The info highlights important shifts throughout the Polygon ecosystem, with some protocols corresponding to Uniswap and Polymarket gaining recognition whereas others corresponding to Aave and Quickswap face challenges. The whole TVL of $891 million signifies strong exercise throughout the Polygon chain, however the various adjustments in TVL throughout the highest protocols point out altering dynamics in person preferences and protocol efficiency.