July 7, 2020 The total value locked in Decentralized Finance surpasses $2 billion.

The total value locked (TVL) in decentralized finance (DeFi) protocols has surpassed $2 billion for the first time. As of Tuesday, the TVL across DeFi stands at $2.02 billion with Compound, Maker, and Synthetix accounting for $660 million, $597 million, and $327 million of this total respectively. The recent milestone can largely be understood in light of the recent ‘yield farming’ phenomenon whereby users seek the highest yields across different protocols and platforms.