TVL Rebounds, DEX Osmosis Lowers Token Inflation


The decentralized finance (DeFi) sector continues to attract increased attention from cryptocurrency investors. ForkLog has collected the most important events and news of recent weeks in a digest.

The main indicators of the DeFi segment

The amount of funds blocked (TVL) in DeFi protocols increased to $45.27 billion. The leader was Lido with $14.6 billion, while MakerDAO ($6.34 billion) and AAVE ($5.81 billion) hold the second and third lines of the rating, respectively. .

Data: DeFi Llama.

TVL in Ethereum applications rose to $26.76 billion. Decentralized exchange (DEX) trading volume over the past 30 days was $59.1 billion.

Uniswap continues to dominate the non-custodial exchange market, accounting for 63.9% of total turnover. The second DEX in terms of trading volume is PancakeSwap (11.6%), the third is DODO (5.7%).

The Chibi Finance team in the Arbitrum network held a rug pull for $1 million

The developers of the DeFi project Chibi Finance on the Arbitrum network were suspected of carrying out a rug pull. User-owned 555 ETH (~$1 million) was withdrawn from the platform’s liquidity pools.

PeckShield experts discovered that the attackers sent funds to Tornado Cash. Representatives of the team closed the project’s website, as well as its Twitter and Telegram accounts.

MakerDAO increases investment in US government bonds to $1.2 billion

DeFi platform MakerDAO has increased its US Treasury issued bonds in reserves from $500 million to $1.2 billion.

MakerDAO participants explained the initiative as a desire to strengthen the balance sheet with the help of liquid and low-risk traditional assets.

The platform has also drastically reduced the share of USDC stablecoin in the total collateral for borrowing in DAI. On March 13, the indicator peaked at around 4.4 billion USDC locked in the PSM mechanism. At the time of writing, the amount of stablecoins deposited in the service barely exceeds $521 million.

The dominant share falls on various versions of the “wrapped” Ethereum. The sum of WETH and WSTETH exceeds 69%. The total volume of funds blocked in the protocol is ~$6.3 billion.

DEX Osmosis lowers token inflation by 50%

The community of Osmosis, the largest decentralized exchange in the Cosmos ecosystem, has accepted a proposal to change the tokenomics of the project, which reduces inflation by 50%.

The OSMO 2.0 initiative marks the transition from the early coin distribution phase to “long-term asset sustainability.” After the reduction, the inflation rate of the native token of the platform was about 11%.

Representatives of the DEX also announced the possible introduction of a mechanism for burning platform revenues, which will lay the foundations of a deflationary model.

Osmosis management is currently discussing changing fees for liquidity pools. The offer also empowers OSMO stakers by allowing them to earn rewards for converting tokens in the protocol.

Also on ForkLog:

  • PancakeSwap launched on the Polygon zkEVM network.
  • The founder of Frax supported a more “aggressive” buyback of the project’s tokens.
  • AlloyX will launch a solution for investing in tokenized loans.

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