- DeFi protocols have held up strongly in 2023 despite a crypto bear run due to a spike in unfavorable regulation for centralized counterparts.
- PancakeSwap holds the highest Total Value Locked on the BNB Chain at a staggering $1.8B, accounting for 34.8% of the total.
DeFi is holding up well in 2023 despite the crypto market being in a bear cycle. The total value locked in defi protocols across all networks is around $41.3B, with BNB Chain holding number 3 on the chains with the highest TVL. Here are the top 10 DeFi protocols on the BNB Chain network by TVL.
The top 10 DeFi protocols by TVL on BNB Chain
The BNB Chain has been a home for defi protocols for long as developers want to stay away from Ethereum’s exorbitant gas fees and congestion that is usual during bull cycles. This network currently has around 3.19 billion dollars in TVL, which accounts for 7.27% of the total.
Here are the top 10 DeFi protocols by TVL on BNB Chain:
- PancakeSwap DEX $1.8B
- Venus lending protocol $1.28B
- Radiant Capital lending protocol $191M
- CoinWind yield harvesting protocol $171M
- PinkSale Launchpad protocol $150M
- BiSwap DEX $114M
- Alpaca Finance Yield farming protocol $110M
- Stargate Bridge $73M
- UNCX Network launchpad protocol $65.8M
- Tranchess Yield Farming protocol $55.5M
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