- Despite Avalanche’s competitive DeFi ecosystem, Struct Finance has outclassed established platforms.
- Struct Finance has emerged as one of the fastest-growing Avalanche-based DeFi platforms.
- Will Struct Finance surpass leading Avalanche-based DeFi platforms like Aave and Benqi?
Avalanche has one of the most decorated DeFi ecosystems in the industry. It hosts some of the industry’s leading platforms, such as AAVE and Benqi, each boasting TVLs surpassing major chains like Cardano and Bitcoin. Therefore, standing out in such a fiercely competitive space can be challenging, but not for Struct Finance.
As a new Avalanche-based DeFi protocol, Struct Finance has recently defied all odds and risen to the top, outshining established platforms in the space. With its exceptional growth, the platform has quickly become a formidable contender in the Avalanche DeFi landscape.
Struct Finance, A Wildcard Entry
Avalanche-based DeFi platform Struct Finance has had an extraordinary week, experiencing a staggering 150% growth in its total value locked (TVL). Data aggregator DeFiLlama reveals that the protocol’s TVL skyrocketed from $350,000 to over $940,000 between July 12 and July 19, cementing its position as the fastest-growing Avalanche-based Defi platform during that period.
Subsequently, Struct Finance’s unprecedented growth placed the platform as the 18th fastest-growing DeFi platform across all blockchain platforms over the week. At press time, the protocol ranked as the 34th largest Avalanche-based DeFi platform by TVL, trailing prominent platforms like Pendle and Sushi.
It’s worth noting that Struct Finance, having launched on June 21, is only a month old. Still, the platform’s interest rate vaults and yield-bearing products have garnered widespread attention from the DeFi community.
Struct Finance’s success highlights Avalanche’s thriving DeFi ecosystem. While the network’s TVL has decreased since the start of the year, it still is the 7th largest DeFi ecosystem and houses some of the top platforms in the sector. Given its rapid growth, the platform could soon be among the leading DeFi protocols. However, the journey could be daunting, considering the competition.
On the Flipside
Why This Matters
Avalanche is emerging as one of the top DeFi ecosystems in the industry. The success and growth of platforms like Struct Finance solidifies the network’s reputation for manufacturing leading DeFi platforms.
More on Avalanche:
Bank of America Heralds Avalanche: “Future of Tokenization”
More on Cardano:
Cardano Bulls Reclaim Crucial Support, Eyeing Retest of $0.38
Source link: https://dailycoin.com/avalanche-struct-finance-tvl-surges/
