In 2022, waves were an important feature of the decentralized finance sector. The protocol has gained 79 percent in TVL since the start of the year, according to BeInCrypto Research. Waves had a TVL of $1.33 billion on that day, and it peaked at around $2.39 billion on March 10, 2022.
So, Waves is a blockchain platform aimed at making the creation of Web3 decentralized protocols and apps (dApps) as well as the introduction of smart blockchain-based assets easier. Waves features various applications under the stablecoin, decentralized exchange, automated market maker, decentralized lending, and non-fungible token banners, as well as a growing ecosystem.
Source : DefiLlama
Stablecoin, Neutrino (NSBT) with more than $1.3 billion in total value locked, decentralized lending. So, Vires Finance (VIRES) with more than $760 million in total value locked. Then, Waves Exchange with more than $140 million in total value locked. Also, and Swop (SWOP) with more than $18 million in total value locked are some of the protocols that have contributed to the improved TVL of the Waves blockchain.
Others, such as the decentralized exchange PuzzleSwap, non-fungible game Waves Ducks. Then, and NFT Marketplace SIGN Art, have contributed to the overall value locked in a little way.
Source : DefiLlama
Waves has eclipsed Polkadot, Near, EOS, Cardano, Algorand, and Osmosis in total value locked after hitting $2 billion in March. All thanks to the performance of the aforementioned dApps.
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