Top Defi Projects By Total Volume Locked

👤Jay Robinson ⏲️February 3, 2025

Top Defi Projects

As of February 2, 2025, the decentralized finance (DeFi) sector continues to expand, with several projects leading in Total Value Locked (TVL), a key metric indicating the total capital held within a protocol. Below is an overview of the top DeFi projects by TVL:

Lido

Lido stands at the forefront of DeFi with a TVL of $31.2 billion. It offers liquid staking solutions, allowing users to stake assets like Ethereum (ETH) and receive staked tokens (e.g., stETH) in return. 

These tokens can be utilized across various DeFi platforms, providing liquidity and flexibility to stakers. Lido’s integration with platforms like Aave enhances its utility, enabling users to leverage staked assets for additional yield opportunities. 

Aave V3

Aave’s third version, Aave V3, has secured a TVL of $20.2 billion. This decentralized lending protocol allows users to deposit assets to earn interest or borrow against their holdings. 

Aave V3 introduces features like “Liquid eModes,” enhancing capital efficiency and offering users optimized borrowing power based on the assets they supply. 

The protocol’s adaptability across multiple blockchain networks contributes to its substantial TVL.  

Sky

Sky, also known as MakerDAO, holds a TVL of $13.0 billion. It is the protocol behind DAI, a decentralized stablecoin pegged to the U.S. dollar. 

Users can generate DAI by depositing collateral assets into MakerDAO’s smart contracts, facilitating decentralized lending and borrowing. Sky’s stability mechanisms and governance model have established it as a cornerstone in the DeFi ecosystem. 

EtherFi

EtherFi has achieved a TVL of $9.2 billion by offering decentralized staking services for Ethereum. 

It enables users to stake their ETH in a non-custodial manner, maintaining control over their private keys. EtherFi’s model emphasizes security and decentralization, appealing to users seeking trustless staking solutions. 

The dynamic realm of Decentralized Finance

These leading DeFi projects exemplify the diverse opportunities within the decentralized finance landscape, each contributing uniquely to the ecosystem’s growth and resilience.

About Author

Jay Robinson

Jay Robinson
Jay Robinson is a crypto content analyst and writer with over two years of experience in the industry. With a deep understanding of the crypto market, DeFAI and extensive knowledge of various blockchain technologies, Jay delivers insightful and well-researched content. As an avid trader, Jay makes sure he stays ahead of market trends and breaking news, providing readers with timely and informative analysis. With a passion for the ever-evolving world of crypto, Jay’s expertise ensures engaging and valuable content for novice and experienced investors.

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