TVLocked & Loaded: Asset Management on Ethereum and Yield Boosting on Avalanche Lead the Week
Welcome to TVLocked & Loaded. In this article, we’ll take a look at all of the top DeFi protocols by biggest percentage gain in total value locked (TVL) each week. On today’s agenda: Enzyme Finance on Ethereum, Echidna Finance on Avalanche, Ondo Finance on Ethereum, and Nexus Protocol on Terra.
The criteria is simple: The first two DeFi protocols have the biggest percentage gains over the last seven days and a TVL of $100 million or more, regardless of network. The last two DeFi protocols are the top gainers from both Ethereum and Terra, the top two blockchains by TVL as of the time of this writing.
For more information about what exactly TVL is, see "What Is TVL? Total Value Locked Meaning, Calculation & Examples" here.
This article is written for information purposes only. Nothing in this article constitutes financial advice. Do your own research before investing in decentralized finance protocols.
All data is taken from DeFi Llama and was last updated on Mar. 22 at 10:00 a.m. ET.
Enzyme Finance on Ethereum | 1,331% | $196.75m TVL
Official Enzyme Finance Website
Leading the week with an incredible 1,331 percent increase in total valued locked (TVL) over the last seven days, Enzyme Finance on Ethereum now has a $196.75 million TVL.
Enzyme Finance is a decentralized asset management protocol built on the Ethereum network. It allows individuals and communities to build and execute investment strategies with minimal trust through Smart Vaults.
Vault Managers are granted access to or restricted from performing certain actions via smart contracts. DAOs and multisig wallets can operate as Vault Managers or Vault Owners, opening up another level of asset management on Ethereum.
With Enzyme Finance's hosted service, Subgraph, all users involved in the Smart Vault investment strategy can receive and review real-time price fluctuations and Smart Vault movement.
For more on Enzyme Finance's 2022 roadmap:
Echidna Finance on Avalanche | 1,145% | $110.98m TVL
Official Echidna Finance Website
Echidna has seen a 1,145 percent increase in total value locked (TVL) over the last seven days, reaching a grand total of $110.98 million.
Built specifically for Platypus Finance protocol, an automated market maker (AMM) for stableswaps with a current TVL over $1 billion, Echidna is a yield-boosting protocol built on Avalanche. It maximizes stablecoin APRs by leveraging the protocol's vePTP treasury.
To earn increased rewards through Echidna Finance, deposit stablecoins on Platypus and receive LP tokens. Deposit the LP tokens into Echidna. Leverage Echidna's vePTP treasury. And finally claim PTP emissions over time.
Ondo Finance on Ethereum | 197% | $130.28m TVL
Ondo Finance has seen a 197 percent increase in total value locked (TVL) over the last seven days, reaching a grand total of $130.28 million.
Ondo Finance is a decentralized investment bank built on Ethereum. It bundles together various decentralized finance (DeFi) services and yield farming opportunities and builds investment packages for users.
The protocol is designed to operate as an intermediate and matchmaker for capital supply and demand. Here's how it works:
First, fund your wallet and subscribe to a fixed or variable yield tranche. Wait while your accrued yield is automatically compounded over a fixed duration. Then, claim your earnings and select a new vault to re-deploy your capital into.
Nexus Protocol on Terra | 36% | $132.95m TVL
Official Nexus Protocol Website
Nexus Protocol has seen a 36 percent increase in total value locked (TVL) over the last seven days, reaching a grand total of $132.95 million.
Nexus Protocol is Terra's first yield optimizer with liquidation protector vaults. It maximizes user yield through Anchor Protocol's borrow loan-to-value (LTV) bLuna and bETH vaults.
With Nexus Protocol, users can maximize LTV and stay protected from liquidation events, as the protocol automatically adjusts to ensure liquidation on loans is never triggered.
UST Mirror vaults are coming soon.
Nexus Protocol's current investors and partners include Arrington XRP Capital, Blocktower, DeFiance Capital, SkyVision Capital, and more.
For an additional DeFi protocol that saw massive gains in TVL this week, sign up for Lucky Trader's newsletter. Each Tuesday, we'll email out an exclusive newsletter overview of a new, high-performing protocol.