Aave and Instadapp lead on DeFi Pulse as DeFi’s total value locked (TVL) hit $85 billion on August 23. The TVL represents the number of assets that are currently staked in a specific protocol. More so, the value represents the total amount of holding supply a specific DeFi app completely secured.
On top of the list comes Aave, an open-source and non-custodial protocol on Ethereum for decentralized lending and borrowing. The open-source DeFi protocol dominates the list with over $16 billion locked. Besides, Aave’s TVL surged by 16.23% on August 13. This means that Aave’s value was around $15.784 billion on August 12.
The DeFi protocol allows people to lend and borrow cryptos. Moreover, lenders earn interest by depositing cryptos into liquidity pools. Meanwhile, borrowers can then use their digital assets as col…
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Source: Cryptocurrency - investing.com
