Terra Becomes Second-Biggest DeFi Platform (Behind Only Ethereum)

[Pagla]

Terra has become the second-biggest smart contract platform by total value locked, according to data provided by Defi Llama.

By reaching $16.6 billion, it has now surpassed Binance Smart Chain.

Terra’s TVL has grown 19.46% over the past 24 hours, racing ahead of competitors.   

TVL
Anchor, a savings protocol that allows receiving low-volatile yields by depositing the UST algorithmic stablecoin, is the most popular protocol on the Terra network with $7.14 billion worth of value locked.     

Liquid staking protocol Lido and decentralized exchange Terraswap come in second and third places, respectively. Automatic market-making Astroport is also a billion-dollar protocol.

Solana and Avalanche, two other popular smart contracts platforms, are lagging behind Terra and Binance Smart Chain with $11.92b and $11.84b in TVL, respectively.

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