DeSyn Protocol Surpasses $1 Billion in Total Value Locked as Bitcoin Yield Pools Expand
In the ever-evolving world of decentralized finance (DeFi), DeSyn Protocol has emerged as a significant player, showcasing impressive growth over the past few months. As of November 2022, DeSyn Protocol's Total Value Locked (TVL) reached an impressive milestone of $1 billion, according to data from DeFiLlama.
DeSyn Protocol offers a diverse range of funds, including Simple deposit products, Liquid fund products, and Basis trading products, catering to various investment strategies within the DeFi landscape. The protocol's growth can be attributed to record inflows on November 18 and 19, which significantly contributed to the surge in DeSyn Liquid Strategy's TVL.
In the realm of yield aggregation, DeSyn Liquid Strategy has taken the lead, surpassing notable competitors such as ether.fi Liquid, Beefy, and Yearn Finance. The largest pools in DeSyn Liquid Strategy are OBTC on Core, WBTC on Bitlayer, and MBTC on Mode. MBTC on Mode follows WBTC and bfBTC in terms of deposit size in DeSyn Safe, the fourth-largest farm protocol.
DeSyn Safe's TVL on DefiLlama reached a record $472 million, reflecting the protocol's growing popularity. The majority of the gains for DeSyn Protocol occurred in the last three weeks, resulting in a TVL of nearly $650 million for DeSyn Liquid Strategy.
Bitlayer accounts for a third of DeSyn Protocol's total TVL, underscoring the platform's significant presence on this blockchain. DeSyn Protocol is currently among the top 40 largest DeFi apps by TVL, demonstrating its competitive edge in the DeFi market.
While DeSyn Protocol is not the largest DeFi app by TVL or the best monthly performer according to the available data, it is evident that the protocol benefits from advanced yield aggregation strategies common in the current DeFi environment. These strategies help boost the user base and locked value, contributing to its growth trajectory within top DeFi rankings.
For precise and up-to-date numbers or rankings concerning DeSyn Protocol’s TVL, performance, and yield offerings, consulting specialized DeFi analytics platforms or official DeSyn communications would be advisable.
- In the competitive landscape of DeFi, DeSyn Protocol stands out as one of the best performers in yield aggregation, surpassing notable competitors such as Yearn Finance.
- As DeSyn Protocol continues to grow, its Total Value Locked (TVL) reached an impressive $650 million for DeSyn Liquid Strategy at the end of November 2022, positioning it among the top 40 largest DeFi apps by TVL.
