Avalon Labs, a yield farming and lending protocol for Bitcoin-related tokens, noticed its complete worth locked (TVL) break the $1 billion mark on Wednesday as Bitcoin reached a brand new report at $75,000 following Donald Trump’s win within the US election. DefiLlama knowledge exhibits that Avalon’s complete liquidity worth soared by over 25% previously week to the touch $1.1 billion.
In mid-September, we reported that Avalon reached a report $440 million in TVL. The expansion has been pushed by a slight restoration in token deposits coupled with a major enhance within the Bitcoin value, which gained 5% on November 6.
Avalon Labs has established itself because the liquidity hub for Bitcoin LSDFi, providing a number of lending and yield merchandise on a number of chains.
The platform, which launched in April 2024, began to broaden after rebranding from Avalon Finance and launching the primary CeDeFi platform.
Avalon CeDeFi combines the compliance of conventional finance with blockchain effectivity. The brand new product, launched in August, focuses on Bitcoin-related tokens. Customers can deposit USDT to the FBTC/USDT pool to focus on a hard and fast fee of 8% and versatile compensation choices.
The CeDeFi product alone has over $220 million in TVL, up from $80 million the final time we reported. On November 5, a report $45 million price of tokens had been deposited on the platform.
Avalon’s flagship DeFi lending platform has practically $795 million in TVL, up from about $500 million in mid-September. Avalon Finance is a DeFi lending protocol forked from Aave v3 and appropriate with 13 blockchain networks, together with BitLayer, Merlin, BNB Sensible Chain (BSC), IoTeX, Core, Arbitrum, Bob, Ethereum, Base, Scroll, BSquare, and Taiko.
BitLayer is the most important market, with over $290 million price of tokens, adopted by Core and BSC.
The share of Core exploded in October from $2 million to just about $180 million.
Wrapped Bitcoin (WBTC) is essentially the most deposited token, accounting for a 3rd of Avalon Finance’s TVL.
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