Terra's collapse boosted activity on Ethereum and BNB Chain. But Tron is also getting a boost from its algorithmic stablecoin that resembles... Terra.
After combing DeFiLlama, we also can identify to which specific projects some of this money is flowing.
On Ethereum, projects like Arrakis Finance (liquidity management protocol), Iron Bank (a protocol-to-protocol lending platform), and Euler (another lending platform) have been key in absorbing new money within DeFi.
As for BNB Chain, projects like pNetwork (a validator network), Wombat Exchange (a Curve-like decentralized exchange), and TokensFarm (a yield aggregator), all have thrived over the past month too.
Despite all the maximalism in this space, the wide variety of types of projects gaining traction across different chains is a healthy phenomenon.
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