🔥 EOS DeFi continues its strong uptrend ! TVL>$300mn

🔥 EOS DeFi continues its strong uptrend ! TVL>$300mn


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Exactly 23 days ago I talked about the booming EOS DeFi landscape and thought the Crypto Pullback ended a nice EOS DeFi bull run. The original post is here

Below are the EOS DeFi metrics from my previous post

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23 days later, it seems I was quite right on either the increasing Total Value Locked in the EOS ecosystem and on the uptrend of most EOS DeFi Tokens. Some ere multiply by 3-8x in the past few weeks.

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EOS DeFi: Why is it different?

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As a reminder, EOS allows you to do a number of transactions per day depending on your EOS staked. You can rent some CPU power to do more transactions than your stake allow for very cheap prices.

As I example, you can rent the equivalent of 400-500 EOS staked for a month for just 0.15-0.25 EOS ! (It means you can easily do more than an average of 50 tx a day for free)

I mean BSC (Binance Smart Chain) allowed users to invest in DeFi at lower gas fees but I still hate the fact that I have to pay 0.4-0.5$ multiple tinmes to harvest, compound or just do a trade !

These costs add up over time !

Let's get into the numbers !

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Total Value Locked (TVL) on EOS

  • February 8th: 63mns
  • February 21th: 128mn (+100%)
  • March 18th: 302mn (+135%)

The current main EOS DeFi projects out there are DeFibox, DeFis Network, Pizza.finance, OGX, Equilibrium and DAD.

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The one posting the most impressive growth of TVL have been

DeFis Network

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This is due to one of their associated project called USDX (algorithmic stablecoin) that has more than 120mn in TVL and is paying yields of 1500%+.

By the way it is not a stablecoin at all as it trades at 3.7$ and went from 1$ to 6.5$ and back down to 2$. It definitely looks like a kind of gambling Ponzi and it has been going for more than 70 days with some users making a LOT of money (at least for now)

THIS IS VERY DANGEROUS ! NOT FINANCIAL ADVICE ! DYOR !

DefiBox

One of my favorite project, very user friendly and backed by serious companies such as NewDex or other big EOS players.

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TVL increased a lot the past few weeks with Lending coming soon to this multi use cases platform !

Token also jumped from 5$ to 20$ (>5 $EOS / $BOX) quite quickly.

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Pizza.finance

This is the main lending platform on the EOS DeFi ecosystem and it most of the TVL is only locked in this goal.

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Very serious project with also a Token doing very well during the past weeks.

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This is all for this EOS DeFi update. I hope the next one will be as positive as this one.

What are your thoughts?

Stay safe !

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➡️ UpTrennd
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Crypto_Lemon
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