By earn 
Introduction to DeFi
Decentralized Finance (DeFi) has emerged as a transformative force in the cryptocurrency world, offering innovative financial services without traditional intermediaries. One key metric to assess the popularity and success of DeFi projects is the Total Value Locked (TVL), which measures the total capital held within a project’s smart contracts. In this post, we will explore the top five DeFi projects by TVL, highlighting their significance and unique offerings.
1. Lido Finance
Lido stands tall at the top of the list with an impressive TVL of $24.6 billion. As a liquid staking solution for Ethereum, Lido enables users to earn staking rewards while maintaining liquidity, showcasing its appeal to a broad audience.
2. Aave V3
Coming in second is Aave V3, which boasts a TVL of $11.9 billion. This popular lending protocol allows users to lend, borrow, and earn interest on various cryptocurrencies, demonstrating the growing demand for decentralized lending solutions.
3. EtherFi
EtherFi ranks third with a TVL of $6.3 billion. This platform focuses on providing a seamless staking experience for Ethereum holders, further emphasizing the shift towards DeFi solutions.
4. Eigenlayer
Next, Eigenlayer has established itself with a TVL of $5.7 billion. It operates as a network that allows users to reuse their stake for various services, enhancing the efficiency of capital usage in the DeFi ecosystem.
5. Maker DAO
Finally, Maker DAO rounds out the top five with a TVL of $4.0 billion. As a foundational DeFi project, Maker enables users to create and manage a stablecoin, showcasing the integral role it plays in the DeFi landscape.
