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Uniswap becomes first DeFi protocol to hit $2 billion in total value locked

Top non-custodial exchange Uniswap has become the first decentralized finance (DeFi) protocol to cross $2 billion in total value locked (TVL).

Uniswap's TVL, or the total value of all assets deposited in the protocol, stands at $2.03 billion at the time of writing, according to tracker DeFi Pulse. Ether (ETH), Tether (USDT), and Wrapped bitcoin (WBTC) are Uniswap's top three tokens by liquidity.

Uniswap's dominance, among other DeFi protocols, is about 18%. The combined TVL of all protocols has hit more than $11 billion as the yield farming trend continues.

Decentralized lending protocol MakerDAO is not too far away to hit $2 billion in TVL. The builder of DAI stablecoin has $1.95 billion in total deposits. Aave follows next with $1.54 billion in TVL.

https://i.imgur.com/DE1MXYR.png

https://www.theblockcrypto.com/linked/78943/uniswap-2-billion-total-value-locked-tvl

Nice to see the overall defi market is still growing and the other positive thing is that only quality and established defi projects are getting deposits while low quality projects are being ignored by the market.

This only shows that a lot have invested to decentralized finance and are okay locking them up to these platforms.

Forget about those low quality projects. They have nothing to contribute and that's why they're being ignored by the community. As long as the project is being seen with potential, it will be noticed by most.

This shows that Defi has potential and $2B is not some measly amount but I wonder if this result also caused by the massive airdrop they held earlier? maybe we need other DeFi protocols to really compete against uniswap because competition is always good not to mention that Defi is relatively new niche. but the absurdly high fee in ethereum blockchain is such a pain that holds me from using uniswap tho, hopefully they resolve that.

Defi is a trend now, so it's natural that Uniswap is becoming popular on DEFI,
because UNISWAP has been a DEX platform for a long time,
and this is the first time they are making UNI tokens and of course this makes Uniswap special from other decentralized exchanges.

It is becoming very interesting what the centralized sites will have in the near future. After all, Uniswap is already beginning to overtake some of the largest platforms in terms of trading volume, which means that Binance may soon start having problems, despite the fact that they are trying in every possible way to add new DeFi projects to their platform.

Uniswap V3 to be released in Q1 2021

The total amount of blocked funds in Uniswap V2:
🔸 $ 11,029,530 - May 20, 2020
🔸 $ 37,512,302 - June 20, 2020
🔸 $ 86,912,475 - 20 July 2020
🔸 $ 298,284,850 - 20 August 2020
🔸 $ 2.16 billion already on September 20, 2020.

https://t.me/Pro_Blockchain/9723

The deposits in the liquidity mining section of uniswap are constantly growing but uniswap needs to come up with a solution for high transaction costs. Also they need to make things easy for the common man with even simpler platform and easy explanantion. I hope V3 of uniswap will also bring more products to the market.

UNI can do nothing about that as the fees will have determined by the ethereum network. If uni will be only available for the ethereum network and this problem can't be fixed by the team. The only way to create an instant adjustment for the swappers to make sure they will get the right fees to get block priority in the network.
The only party that responsible for this was ethereum code developers and the community to implement the new proposal for scalability update.

What a crazy increase from 1 month to another month. By end of year will it be possible to reach in trillion dollars? And for sure there are funds locked there that were stolen by scammers and hackers. I also wonder how many whales have participated in locking their assets? These questions are always in my mind whenever I see the amounts locked in Uniswap.

Wel, actually, Uniswap can (and hopefully will) do something about costly swaps. I read that Uniswap v3 will bring support for layer-two (https://www.publish0x.com/liteliger-blog/uniswap-v3-coming-possibly-layer-2-solution-ready-bullish-xwndkzk) and with that the transaction speed will increase significantly. There already are some layer-two solutions that users can use, but Uniswap doesn't support it.

Let's hope the Uniswap will really do something from their end as high transaction fees are really getting cumbersome to a lot of their users. Not all traders can afford to pay those high tx fees. Wondering if they can work with eth team to fast track the resolution of this issue?

i thought they locked some funds and slowly turned into scam lol but i guess i was wrong because ive read positive coments above . locking of funds do also happen on the past but lock in a way that holders cant sell thier coin . congrats to the exchange btw for achieving this .

 i know that this is just a beggining for thier career because its verry early to achieve such high amount . this exchange can give more impressive news in the future .

If I understood layer-two solution right, they don't need anything from the Ethereum team. Actually, there already is a Uniswap fork that uses layer-two solution. It's called Honeyswap and it's using xDai chain. I made few swaps just to test the xDai chain and transaction costs were arround $0.0003. I think that's pretty good comparing to $5-$20 transactions that I made on Uniswap. The problem is that Honeyswap volume is still pretty low so you can only trade few tokens there.

Very good for them, and I am not quite surprised about their growth so far.There have been some people who were saying that it will crash and that’s because they believe it’s all hype and soon investors drop it for something else, but that wasn’t the case, instead the market kept going up. Although I would say if that’s going to happen it’s still early , it’s probably going to take time, but I wouldn’t like that to happen.

Nah, locking funds is not a new thing in this market and it doesn’t say that they are scammers. By now I believe that they are legit, it would be dumb if they should make such a move, and moreover they won’t get away with it for sure. Lastly, they have managed to establish themselves, so why ruin it now?

Damn! I really thought for them going past Maker would be a bit tough because Maker has more experience but 2 billion in locked assets that's a huge number. Uniswap is really killing it in the DeFi sector.