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: ProtoFi on Fantom, REX Staking on Telos and Binance Smart Chain, Defrost on Avalanche, Opyn on Ethereum, and Stader 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. 7 at 8:00 a.m. ET.
ProtoFi | 228% | $124.42m TVL | Fantom
Leading the week with a 228 percent increase in total valued locked (TVL) over the last seven days, ProtoFi (PROTO) has reached a grand total of $124 million.
ProtoFi is Fantom’s first Automated Market Maker (AMM) and yield farming protocol. Its dual token system utilizes two native tokens, $PROTO and $ELCT. $PROTO is freely available and has an unlimited supply with an initial emission rate of 15 $PROTO per block. Holding and staking $PROTO is the only way to earn $ELCT, which can be staked in the protocol’s Fission pools to earn users dividends on transactions. $ELCT can be swapped via ProtoFi’s Swapper function for $PROTO, which can then be sold on the marketplace.
The three main features of ProtoFi’s tokenomics are Quantum Supply, ProtoShield, and ChronoLock. Quantum Supply is a dynamic elastic supply to support token price (learn more here). ProtoShield is an anti-whale transaction monitoring system (learn more here). And ChronoLock is a variable harvest lock-up protective mechanism for farms and pools (learn more here).
REX Staking | 97% | $207.88m TVL | Telos + BSC
REX Staking has seen a 97 percent increase in total value locked (TVL) over the last seven days, reaching a grand total of $208 million.
REX, which stands for resource exchange, is set to launch REX 2.0 on Feb. 22, 2022 (see promotional video below). The protocol currently operates on Telos but is migrating to Binance Smart Chain. REX Classic users (holders and stakers) will be airdropped new REX token automatically, according to the protocol’s website.
REX 2.0 is a blockchain-based, high-interest flexible staking ecosystem with “Personal Random Big Pay Days.” Personal Random Big Pay Days are a way for users to earn back their “sacrificed values” when staking REX.
Defrost | 89% | $141.22m TVL | Avalanche
Defrost (MELT) has seen an 89 percent increase in total value locked (TVL) over the last seven days, reaching a grand total of $141 million.
Defrost allows users to use yield-bearing tokens to mint $H2O, the only stablecoin native to the Avalanche network. $H2O is pegged 1:1 with the U.S. dollar and is fully collateralized by liquidity, pool tokens, and interest-bearing assets on the Defrost protocol. It is not algorithmically controlled.
$MELT is the protocol’s utility token. It grants holders and stakers governance voting rights and a certain distribution of platform earnings.
Defrost currently supports LPs (liquidity provider tokens) from Curve, BenQi, Stake Dao, Trader Joe, Pangolin, Uniswap, SushiSwap, PancakeSwap, and WanSwap.
Opyn | 52% | $206.91m TVL | Ethereum
Opyn has seen a 52 percent increase in total value locked (TVL) over the last seven days, reaching a grand total of $207 million.
Opyn is a DeFi-native derivatives and options infrastructure protocol that allows users to utilize a new financial derivative invented by the Opyn research team called Squeeth, or squared ETH. Squeeth tracks ETH^2 rather than ETH and offers options-like exposure without strikes or expiries. Opyn also boasts zero liquidity fragmentation for leverage without liquidations, no need to “roll” positions to save on gas and market maker fees, and a constant gamma (the rate of change in an option’s delta per 1-point move in the underlying asset’s price).
Opyn is currently integrated with 11 protocols and DAOs, including Ribbon Finance, Opeth, Gamma Portal, Fontis Finance, Optional Finance, Ziku Finance, and more.
Stader | 24% | $325.71m TVL | Terra
Stader has seen a 24 percent increase in total value locked (TVL) over the last seven days, reaching a grand total of $326 million.
Stader is a staking infrastructure protocol on Terra that allows users to auto-compound $LUNA rewards using its platform native token, $LUNAX. As of the time of this writing, Terra is the only available staking option, but Stader has plans to introduce auto-compounding for Solana and Ethereum 2.0 through native staking smart contracts. The team also has plans to gamify staking rewards.
Stader is partnered with over 20 different funds, blockchains, and angel investors, including Pantera, Coinbase Ventures, Three Arrows Capital, Jump Capital, Huobi Ventures, Terra, Solana, Near, and more.