Fantom Becomes Third-Largest DeFi Protocol by Value Locked

Posted on by American Coins & Gold

Fantom Becomes Third-Largest DeFi Protocol by Value Locked
Fantom overtook Binance Smart Chain (BSC) over the weekend to become the third-largest decentralized finance (DeFi) ecosystem by total value locked, data from analytics tool DeFiLlama showed.DeFi broadly refers to smart contract-based financial services such as trading, lending and borrowing offered by blockchain projects to users.As of Monday morning in Europe, more than $12.2 billion worth of Fantom’s FTM and other tokens are locked on 129 protocols geared towards Fantom users. That’s just over $94 million locked per project on average. This is a 52% increase in the past week, and a greater-than 170% increase over the past month, the…