DeFi: how many Ethereum are locked?
DeFi: how many Ethereum are locked?

DeFi: how many Ethereum are locked?

By Alfredo de Candia - 9 May 2020

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Decentralized Finance (DeFi) is experiencing a moment of strong growth in recent months, touching really impressive figures (it has already exceeded one billion dollars). The blockchain that dominates this sector is that of Ethereum, whose growth is following the same curve as the ETH locked.

But how many ETH are actually locked on DeFi platforms?

The Ethereum locked in various protocols have been used to generate other tokens or as collateral.

On Cryptonomist it is possible to see the updated data,

Starting with the macro data it shows that, currently, there are 2.8 million ETH locked.

The peak of these locked assets took place at the beginning of this year, exceeding the 3 million threshold, demonstrating that 2020 is proving to be the year of DeFi.

Going into the specifics, it’s easy to understand where these ETHs are locked, starting from the first 5 positions.

With 2.2 million ETH locked, Maker crushes the competition and becomes the main player in this sector.

In second position, with just under 300 thousand ETH, there is the Compound protocol that only recently activated and changed its governance system, allowing anyone who owns tokens to actively participate in the project.

In third place there’s InstaDapp, a smart wallet for managing various assets with different protocols through a very simple and affordable interface. This app can manage the migration to and from MakerDao and Compound and interact with Uniswap.

At position 4 there is the only decentralized exchange (DEX) in the top 5, Uniswap, which has just over 100,000 ETH locked, and is able to keep up with all the other protocols focused on lending, despite having recently been the victim of an attack.

In fifth place there is the dYdX protocol which, with the possibility of margin trading, is finding broad consensus. Recently, the first decentralized perpetual contracts on bitcoin were launched on this platform.

It is worth remembering that the total ETH supply is over 110 million, while the ETH locked are 2.8 million, which means that the Ethereum locked in DeFi protocols represent 1.82% of the total.

Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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