Polygon, a top Ethereum L2 scaling solution, has witnessed a spike in TVL in the DeFi sector as its total value locked as touched $1.15 billion. In this respect, Phoenix Group has shared the list of prominent projects on Polygon in terms of total value locked. These projects include Polymarket, $AAVE, $UNI, Spilo, $QUICK, $TNGBL, $COMP, $BAL, $CRV, and $STG. Polmarket and Spilo have not launched their coins yet.The analytics firm took to its official X account to disclose the specifics of these projects.
TOP 10 #TVL ON #POLYGON
#Polymarket $AAVE $UNI #Spiko $QUICK $TNGBL $COMP $BAL $CRV $STG pic.twitter.com/o7wEPKkv60— PHOENIX – Crypto News & Analytics (@pnxgrp) October 30, 2024
Polymarket Leads the Top-TVL Projects on Polygon with a 28.29% Share in the Ecosystem
Polymarket, which is a prediction platform, occupies the 1st position in the list with a TVL of up to $340.77 million. It reportedly accounts for up to 28.29% of the cumulative TVL of the Polygon ecosystem. Subsequently, AAVE, which is a lending forum, gets 2nd place with its TVL reaching $322.10M. This amount equals nearly 27.38% of Polygon’s overall TVL. It precedes UNI, a popular decentralized exchange that has a total value locked of almost $263.98M. This figure gets a 22.40% share in Polygon’s cumulative TVL.
Spiko, a renowned platform dealing with real-world assets, possesses a $69.86M in terms of TVL. However, it occupies 5.93% (a relatively smaller) portion of the overall TVL of Polygon. Following that, a popular decentralized exchange QUICK stands on the 5th spot and accounts for a TVL of approximately $54.15M. This amount denotes 4.60% of Polygon’s TVL.
The list moves on to include TNGBL (an RWA/Yield platform) with a TVL equaling $40.79M. This amount occupies 3.46% part of the total TVL of Polygon. The next project on the list is COMP which is a lending platform owing a TVL of $33.38M. Its TVL shows 2.83% of Polygon’s total value locked. BAL, a decentralized exchange, takes the 8th position with $20.37M in its TVL. This figure signifies 1.73% of the overall total value locked of Polygon.
STG Bottoms the List with Just a 1.38% Share in Polygon’s TVL
According to Phoeninx Group, the 9th player within this list is another DEX accounting for $16.74M in its TVL. This equals nearly 1.42% of Polygon’s TVL. STG, a cross-chain forum, comes last in the list at the 10th spot as its TVL touches $16.22M, denoting just 1.38% of Polygon’s total value locked.
