Despite a recent increase in total value locked (TVL) in decentralized finance (DeFi), TVL on the 0xDAO Protocol is still 22 times lower than its all-time high.
As of March 30, 2022, the value of 0xDAO had dropped by $4.14 billion. For some crypto financial products, March has been a month of recovery. Although TVL increased in March, it pales in contrast to the milestones the protocol hit in its early days of being followed by DeFi websites like DeFiLlama.
The total value of 0xDAO is now locked at $189.58 million. TVL was up, despite the fact that it appears insignificant in comparison to the Lido Protocol milestones. 0xDAO has a TVL of roughly $6.9 million on March 1, 2022. This means that the protocol’s value increased by more than 2,600% in March.
On the other hand, on January 25, 2022, 0xDAO’s total value locked hit an all-time high of $4.33 billion. This indicates that in the period of two months, the entire value locked has dropped by 95%.
Source: DeFiLlama
0xDAO is a protocol designed to combat the rise of short-term DAOs, which continue to rob devoted Fantom builders of liquidity. Overall, 0xDAO was formed to showcase a decentralized autonomous organization that is community-centered. Then, and has proven developers that are focused on reaching long-term goals with the help of the community.
Finally, 0xDAO has served as a deterrent to greedy short-term ventures that have labeled a number of DAOs as hit-and-run projects.
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