Assets locked in DeFi protocols total $7.05 billion. The six largest projects account for 90% of this amount. The Maker protocol ceded the lead to Aave. Data comes from the analytics resource DeFi Pulse.
In less than two months, the value locked has grown by a factor of 3.7.
As of writing, $1.53 billion is locked in Aave, and $1.41 billion in Maker. The project that reached the top in June with $792.8 million has fallen out of the top five, ceding to yearn.finance and Synthetix.
Data: DeFi Pulse
The company behind the Aave protocol, received a licence as an electronic money institution in the United Kingdom. The licence allows the recipient to provide payment services and issue digital monetary alternatives.
High concentration of assets in the six largest projects may be the result of recent surges and declines of meme projects. Their ‘pioneer’ became Yam, and continued the work of the flashy clone Spaghetti Money.
Earlier, Ethereum co-founder Vitalik Buterin urged those who do not understand how decentralized finance works not to participate in the latest ‘hot DeFi news’ and to risk only a small amount for the rest.
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