A lot has changed during the last month, as the popular decentralized finance (defi) ecosystem has swelled considerably in value. Since the first week of August, the total value locked in defi jumped over 85% in 27 days from $4.2 billion to $7.88 billion on August 30.
The total value locked (TVL) in the decentralized finance (defi) economy is nearing $8 billion in value, as crypto funds have poured into the surrounding infrastructure. Statistics from the website defipulse.com show that the current TVL on Sunday, August 30, 2020, is $7.8 billion. The defi lending platform Aave makes up 21.86% of that value.
Aave just recently jumped to the number one position as far as dominance is concerned. When news.Bitcoin.com reported on the defi economy crossing $4 billion, Maker captured 31.9% of the dominance on August 3.
Another defi project that has been making waves is the Yearn Finance protocol and the native token YFI.
Yearn Finance essentially lets users leverage a variety of defi applications like Curve, Aave, and Compound in order…