Elrond Leapfrogs Into DeFi’s Top 10 as Users Chase Ridiculously Large Incentive Program

Posted on by American Coins & Gold

Elrond Leapfrogs Into DeFi’s Top 10 as Users Chase Ridiculously Large Incentive Program
A new chain has broken into the top 10 rankings by total value locked (TVL), and it only took a week to get there.According to data compiled by DeFi Llama, Elrond – a layer 1 smart-contract platform that leverages the web assembly (WASM) virtual machine – is now the 10th largest decentralized finance (DeFi) ecosystem with $2.06 billion in TVL.Elrond, which went live on mainnet in July 2020, has been slow to attract developers but is now rising quickly on the back of a massive liquidity mining program from the Maiar decentralized exchange.The sudden surge for the chain could be…