DefiLlama: Total Value Locked by Protocols

12 בנוב׳ 2022

"Exchange is not your wallet".
"Not your keys, not your coins"

Despite the strong turmoil due to the FTX crash, DeFi dApps (Decentralized Finance applications that run on blockchains) remain intact, at least for the most part.
And given this bad context of the crypto market, it is worth noting that Dexes (decentralized exchanges) and Landing Protocols have proven to be much more resilient and secure than centralized exchanges, since the former have a more open administration and a source code that can be accessed and audited.

On the other hand, centralized exchanges are a black box, and at this delicate moment, there are doubts if they really have enough balance to honor all withdrawals.

DefiLlama TVL (Total Value Locked)
The graph presented here shows the monetary values ​​locked in the main dApps, also called protocols.
What the graph indicates is that the DeFi ecosystem remains intact, and so far the application that has suffered the most withdrawals and losses has been Mango Markets, which runs on the Solana blockchain.
Due to the Alameda/FTX contamination, some Solana dApps may suffer more.

The worst case scenario in case of eviction
According to DefiLlama, the total amount locked in DeFi is 76.13b.
Doing a very quick baker's account with approximate values:

+ Total TVL: $76,000,000,000.00
- FTX Leak: $10,000,000,000.00
- Investments by Alameda/FTX in Solana and some dApps: $6,031,139,675.00
-------------------------------
= $59,968,860,325,000 (-21%)

So, if the market drops more, we could have a drop of another 21%, distributed among these protocols.
But, again, this is just a quick calculation and could be wrong, and it is not investment advice.

Final word
This will be a time of consolidation, in which ecosystems with solid governance will prove their worth and emerge from this crisis even stronger.

12 בנוב׳ 2022

הערה

Complementing this analysis, follows the TVL chart on the main blockchains.
It's a more macro view.