Uniswap Records $2 Billion Total Value Locked

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Uniswap (Courtesy: Twitter)
Uniswap (Courtesy: Twitter)

Uniswap has become the first decentralized finance (DeFi) protocol to cross $2 billion in total value locked (TVL).

Uniswap’s TVL, or the total value of all assets deposited in the protocol, stands at $2.03 billion at the time of writing, according to tracker DeFi Pulse. Ether (ETH), Tether (USDT), and Wrapped bitcoin (WBTC) are Uniswap’s top three tokens by liquidity.

Uniswap’s dominance, among other DeFi protocols, is about 18%. The combined TVL of all protocols has hit more than $11 billion as the yield farming trend continues.

Decentralized lending protocol MakerDAO is not too far away to hit $2 billion in TVL. The builder of DAI stablecoin has $1.95 billion in total deposits. Aave follows next with $1.54 billion in TVL.