Recent data from the Phoenix Group has revealed the dynamic nature of the UniChain ecosystem, identifying the most significant protocols by total value locked (TVL).
Leading Protocols on UniChain
According to the data, UniSwap is the largest protocol on UniChain with a TVL of $603.99 million, serving as a major liquidity gateway.
Euler ranks second with a TVL of $273.26 million, highlighting its significant role in lending and borrowing digital assets.
Morpho follows in third place with a TVL of $45.98 million, emphasizing the importance of decentralized lending functionalities.
K3 Capital comes in fourth with a TVL of $25.14 million, indicating its crucial role in risk management within DeFi.
Compound secures fifth place with a TVL of $16.94 million, reflecting active lending and borrowing activities.
Other top protocols by TVL on UniChain include Stargate Finance ($14.27 million), Gauntlet ($11.35 million), SparksPay ($9.99 million), Venus (XVS) ($8.21 million), and Catex ($1.58 million).
Gradual Development of UniChain
At the end of 2024, UniSwap Labs announced the launch of its layer 2 blockchain called UniChain. This is not just a layer 2 network; it serves as a comprehensive DeFi backbone, supporting various protocols including lending platforms, DEXs, and cross-chain solutions. This reflects the growing activity and maturity of the DeFi ecosystem in which UniChain supports a wide range of investment activities.
Conclusions on DeFi State on UniChain
The TVL metrics of UniChain show a mature and dynamic DeFi environment. The significant TVL held by these protocols indicates strong user activity in the DeFi ecosystem and highlights a multifaceted and interconnected ecosystem on UniChain.
In summary, the UniChain ecosystem demonstrates significant achievements and activity in the decentralized finance space, providing users with a wide range of services and opportunities.
