In the defi lending industry, a lot has changed in the last 12 months as lending apps like Terra’s Anchor Protocol have bit the dust and 71.95% of the total value locked in defi lending protocols has evaporated.
From $37 billion to $10 billion: The five biggest tax-exempt lenders yesterday and today.
This time last year, decentralized financial lending protocols held $37.41 billion in total value locked (TVL), and the defi Aave protocol dominated with $12.87 billion. A snapshot from archive.org from January 10, 2022 shows that Aaves TVL of $12.87 billion was higher than the TVL of the top five defensive loan protocols on January 17, 2023.
Data shows that the top five defiant protocols in mid-January 2023 are Aave ($4.58 billion), Justlend ($3.02 billion), Compound ($1.85 billion), Venus ($813 billion). USD 0.63 million) and Morpho (USD 221.59 million). ). At present, the five aforementioned defiance protocols have a combined value of approximately $10.49 billion.
On January 10, 2022, Terra’s Anchor protocol held approximately $8.5 billion in value, but today the defi protocol is in ashes. Anker was one of the main components of the Terra ecosystem. Terrausd (UST) holders deposited UST for an annual return of 20% compounded daily.
But in May 2022, the UST lost parity with the dollar, and Anchor only has about $2 million today. Compound had the third-largest TVL by loan protocols at $8.09 billion at the time. On January 17, 2023, Compound’s TVL shrank to $1.85 billion.
The second largest loan challenge protocol today is Justlend with $3.03 billion. Tron-based Justlend jumped from seventh to second place, from $1.72 billion to $3 billion. Justlend is one of the only decentralized finance lending apps that has seen an increase in the last 12 months.
The fourth and fifth largest defi lenders from last year, Abracadabra and Cream Finance, are no longer in the top five rankings and have been replaced by Venus and Morpho. Cream Finance is now in 20th place, falling from $2.14 billion to $42.94 million.