blockchainreporter.net
The data from DefiLlama shows that the total value of assets locked in Polygon’s ecosystem has exceeded $928 million. This indicator underlines the trend for active decentralized finance (DeFi) benefits absorption on the Polygon blockchain. As a range of projects adopts Polygon’s low-cost and fast infrastructure, the ecosystem is consolidating its status as a favorite platform for DeFi protocols.
Top Polygon Protocols by Total Value Locked
— TOP 7 ICO | #StandWithUkraine🇺🇦 (@top7ico) September 27, 2024
The total value of assets locked in @0xPolygon $POL is around $928M, according to @DefiLlama. Let’s compare the top DeFi-protocols on #Polygon chain by current TVL in USD, in order to evaluate their adoption scale. pic.twitter.com/5VTv4rle6S
Leading DeFi Protocols on Polygon by Total Value Locked (TVL)
AAVE, among the top protocols in Polygon, has achieved impressive figures to the tune of $328 million of Total Value locked in the AAVE Protocol, the highest T.V.L. for any of its services within the network. Due to its decentralized exchange features, Uniswap (UNI) has also been able to amass $235 million. Also, Quickswap recorded $127 million locked in its platform by understanding the needs of users to exchange digital tokens quickly and economically.
The protocols such as SushiSwap and Balancer (BAL) have captured $60.3 million and $31.6 million, respectively. These projects offer a variety of services, from liquidity provision to sophisticated order types, and thus target different segments of the DeFi community.
Noticeable Market Activity and Growth of Adoption
In addition, the figures show a positive trend in DeFi on Polygon, with interesting 30-day market activity. AAVE has now decreased by 0.24%, while Uniswap increased by 5.74%, an indication of the high demand on the decentralized exchanges. Quickswap increased by 23%, further cementing its position as a rapid and inexpensive asset exchange platform.
Users are now increasingly opting for Polygon’s native protocols because of the reduced transaction cost and improved scalability features. As the ecosystem grows, further DeFi applications will be developed, hence increasing the total value locked on the network.