Defi is growing by close to half a billion a week in used or ‘locked’ assets, with it nearing $2 billion just two weeks ago and now close to overtaking $3 billion.
And that’s just for the tracked assets in a stats site, Defiplus, where in its rankings Compound and Maker have been battling it out with the third and fifth position now being contested too.
Aave and Synthetix, both pretty cool projects, are in a tie for third position with both holding close to half a billion dollars.
Readers will remember there was a time when the whole defi space had just half a billion in locked assets.
In fact it was just a month ago, but since then the return of the token business model has maybe brought back some fomo.
Curve and Balancer are up and up, close to a combined half a billion fresh out of the box.
And the rest aren’t moving much, presumably because they not doing this token business.
Uniswap apparently can’t because their contract is frozen, but why dYdX ain’t doing it, isn’t clear.
All of these dapps however, at least the prominent ones, complement each other because in many ways they depend on each other for some of their services.
You can’t really have Curve for example without the many smart contract based exchanges where you can do the arbin, market making, and whatever else them bots do.
Likewise you can’t have Uniswap or Balancer without all these tokens to be swapped. But you get all of them together and you get a march of half a billion a week so far for this month.