Aqua & Delea Hit Record TVL as TON Stablecoin Projects Gain Traction

TON-based decentralized stablecoin protocols, Aqua Protocol and Delea, noticed their complete worth locked (TVL) soar to document ranges. Each tasks borrow from MakerDAO’s mannequin and characterize collateral debt place (CDP) tasks that subject their very own stablecoins for use in decentralized finance (DeFi).

DefiLlama information reveals that Aqua’s TVL has almost doubled in December to a document $4.1 million.

Elsewhere, Delea, which launched a month in the past, noticed its TVL surge to $5.4 million. It gained over 100% on Tuesday alone.

Aqua is a decentralized platform that goals to change into a liquidity hub on the TON blockchain. It allows customers to deposit Toncoin (TON), a number of liquid staking tokens (LSTs) associated to TON, and USDT to mint AquaUSD – a stablecoin pegged to the worth of the US greenback. USDT accounts for almost 100% of complete deposits.

On Tuesday, December 17, Aqua noticed document day by day inflows, with greater than $720,000 value of USDT being deposited on the platform.

Buyers are minting the token to offer liquidity to TON-based decentralized exchanges (DEXs) like StonFi and DeDust, which offer beneficiant annual share fee (APR) figures for the AquaUSD/USDT pair. For instance, the pool on DeDust at present gives an APR of 42.3%.

Regardless of Aqua’s speedy progress, Delea outperformed it on Tuesday, turning into the biggest CDP challenge on TON by TVL. The protocol permits customers to deposit TON, stTON, tsTON, jBTC, and jETH as collateral to mint DONE, its greenback stablecoin.

Like Aqua, Delea noticed document day by day inflows on Tuesday, with greater than $2.4 million value of tokens deposited on the platform.

Following this progress, each Delea and Aqua entered the highest 50 CDP tasks by TVL. The whole worth deposited on CDP protocols has been fluctuating close to $10 billion, with MakerDAO accounting for almost 60% of it.

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