On Monday, February 15, the distribution of community tokens for the Compound protocol began, the COMP tokens. So since Monday , users (borrowers and lenders are generated COMP tokens.
Very quickly the COMP token to passed the MakerDAO MKR and become the first token in terms of Defi token capitalization.
The release of this token gave a big boost to other Defi protocols . In fact to generate more COMP people borrowed more to then lend more on Compound and create leverage. So all liquidity pool involving USDT and USDC particulary.
In fact daily volume on Curve’s pool exceeded 52 000 000 $ and the APY on some pools exploded. For instance APY of the Y pool in, at the time of writing, at 180% !!!And the Liquidity utilisation is around 400%.
Defi is reaching some important levels since few weeks/days. And clearly become more and more popular.