The post Tonstakers Lead TON Protocols with $186M as STON.fi Down 39.2% appeared on BitcoinEthereumNews.com.

The total value locked (TVL) within The Open Network (TON) ecosystem has reached approximately $370 million, reflecting the growing adoption of decentralized finance (DeFi) on the TON blockchain. Based on data from DefiLlama, the leading protocols by TVL on TON showcase a blend of liquid staking, decentralized exchanges (DEX), real-world assets (RWA), and lending platforms. Here’s a breakdown of the top performers within the TON blockchain ecosystem. Tonstakers holds the top spot with $186 million in total value locked, representing the largest liquid staking protocol on the TON blockchain. Despite its dominant position, the protocol saw an 8% decrease in TVL over the last month, likely indicating market fluctuations or a shift in user activity. According to the on-chain data, following closely is STON.fi, a decentralized exchange (DEX) with $172 million in locked assets. However, STON.fi experienced a significant decline, with a staggering 39.2% drop in TVL within the last month. This sharp fall may suggest a decrease in user participation or market liquidity on the platform. DeDust, another DEX on the TON blockchain, ranks third with $137 million TVL but also faced a severe contraction in the past 30 days. The platform witnessed a 48% decline, signaling substantial challenges in retaining liquidity. Mid-Tier Protocols: Steady Yet Challenging In the mid-tier range, bemo, a liquid staking protocol, holds $67.7 million in TVL. Although relatively stable compared to other platforms, bemo still saw a 5.52% drop over the past month, aligning with the general downward trend seen across liquid staking platforms. Meanwhile, Cygnus Finance, a real-world asset (RWA) platform, stands out with $53 million in locked value and was the only protocol in the top seven to post positive growth. The protocol saw a modest yet notable 0.61% increase in TVL, highlighting its potential to capture market share even during challenging…

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Filed under: News - @ September 12, 2024 3:14 am