TVLocked & Loaded: Welnance Attempts to Bring Blockchain Technology to Laos Government
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: Welnance on Binance Smart Chain (BSC), Vires Finance on Waves, ProtoFi on Fantom, Dodo on Ethereum, and Astroport on Terra.
The criteria is simple: The first three DeFi protocols listed below 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 Feb. 15 at 6:00 a.m. ET.
Welnance on Binance Smart Chain | 228% | $100.68m TVL
Leading the week with a 196 percent increase in total valued locked (TVL) over the last seven days, Welnance snuck in with a grand total of $100.68 million locked up in its protocol.
Welnance is a decentralized marketplace for lenders and borrowers with a crypto exchange coming soon. Its tool suite includes both centralized and decentralized exchanges, staking, yield farming, and governance. Governance is accomplished through its native WEL token.
The project is in talks with the Lao People’s Democratic Republic Ministry of Technology and Communications to help build blockchain-based software, programs, and applications that support the administration, according to Nasdaq. For example, Welnance is researching digital IDs and other digital assets for e-residency, e-finance, e-health, e-school, and e-government.
Welnance’s 2022 roadmap includes Welnance wallet, mining pools, NFT gaming, and more.
Vires Finance on Waves | 103% | $362.30m TVL
Vires Finance has seen a 103 percent increase in total value locked (TVL) over the last seven days, reaching a grand total of $362.30 million.
Vires Finance is a decentralized liquidity or money market protocol for the Waves blockchain. Powered by the WX Blockchain Gateway, the protocol makes it simple to bridge between networks.
The conditions of lending are determined by the protocol through a pool-based strategy that fixes the problem of peer-to-peer (p2p) lending. Peer-to-peer lending requires individuals to negotiate and match loan amounts, but Vires Finance accomplishes this algorithmically by discovering rates via an equilibrium between supply and demand.
For more information on how the supply and borrow interest rate and market dynamics models work, see Vires Finance’s whitepaper.
ProtoFi on Fantom | 87% | $275.97m TVL
For more information about ProtoFi, see last week’s summary.
Dodo on Ethereum | 105% | $205.78m TVL
Dodo has seen a 105 percent increase in total value locked (TVL) over the last seven days, reaching a grand total of $205.78 million.
Dodo is a cross-chain, decentralized trading protocol for web3 running on its original Proactive Market Maker (PMM) algorithm, which allows an oracle machine to be introduced and guide prices or price discovery by the market chain. The protocol is built on Ethereum and Binance Smart Chain (BSC), and its suite of tools includes custom token creation, liquidity pools, liquidity mining, crowdpooling, fractionalization of NFTs, and up-to-date dashboards.
Dodo’s top investors include Framework, Pantera, Three Arrows Capital, Binance Labs, Coinbase Ventures, Alameda Research, Galaxy Digital, DeFiance Capital, and others.
Astroport on Terra | 7% | $887.52m TVL
The Terra ecosystem has fewer active protocols than most, but each one has a significant impact on the chain’s TVL. DeFi Llama is likely missing Prism Protocol, which recently launched and has seen a massive spike in total value locked.
Astroport is the premier Automated Market Maker (AMM) on Terra. The protocol is decentralized, permissionless, open-sourced, and governed by the community.
It currently supports two liquidity pool types: Uniswap’s Constant Product formula pools and Curve’s StableSwap Invariant formula pools. For more information on pool types, see Astroport’s litepaper.