Community Trust ScoreVerified
The lending and borrowing category is heating up on Avalanche. New to DeFi and wondering what’s so special? This is all done without any fee-taking intermediaries and at speeds competitive with your favorite finance app.
Swap, Farm, Lend, Borrow all under one roof. Borrow up to 80% on Stables (Including USDT) and up to 75% on Avax, ETH, BTC.
Trader Joe is serving the community at the frontier of DeFi. They claim to be the One-Stop Decentralized Trading on Avalanche.
Further regarding TVL Kevin Sekniqi defends Avalanche. He points to Top 5 chains based on TVL rankings according to DefiLlama: Ethereum – Binance BSC – Solana – Terra – Avalanche Neat!
However, he states the problem is that all, except for Avalanche, have massive TVL holdings from double counting liquid staking. Avalanche doesn’t. Take this as you will.
For Total Value Locked, Kevin Claims Avalanche does not “Double Count” Liquid staking.
Source: I spent a whole bunch of time diving into the pools of various chains trying to find out where the TVL was coming from. Also, yes, I know I said I wouldn’t post any top-level tweets besides the TVL holdings of Avalanche until it hit $20B, but I had to make a quick exception.
Yes, let me provide a simple example. Take Saber, biggest AMM on Solana. Take a look at the biggest pool, the mSOL-SOL pool of $435M size. mSOL is “staked SOL” being converted for “non-staked SOL”. This is meaningless.
Emin Gun Sirer Expressed: Or perhaps more correctly, the TVL methodology inherently double counts.
Community response: Avalanche never manipulates numbers like other chains yet it still makes it to the top. Avalanche has been transparent even in the darkest of times.
I love how people start to realize that Avalanche is literally the best option in whole DeFi
For those who are new, Decentralized Finance (commonly referred to as DeFi) is a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains.
Avalanche is a Layer 1 blockchain that achieves high throughput and offers compatibility with the Ethereum Virtual Machine. Network activity has soared in recent months, particularly in the DeFi space. Avalanche’s EVM compatibility lets developers seamlessly port decentralized applications over from Ethereum.
Several DeFi projects are happening in the Avalanche blockchain. The Total Value Locked in Avalanche is increasing with time.
