Terra Is Now DeFi’s Network of Choice After Ethereum

bitcoin March 6, 2022 Ethereum Leave a comment 21 Views

Decrypting DeFi is Decrypt’s DeFi email newsletter. (art: Grant Kempster)

Terra, the fast-growing DeFi tool kit built on Cosmos, is now officially the second-largest ecosystem in decentralized finance. 

According to data pulled from DeFi Llama, Terra currently boasts total value locked (TVL) of just over $23 billion, marking an all-time high in U.S. dollar terms. 

This is roughly twice as much as runners-up BNB Chain (formerly Binance Smart Chain) and Fantom. The king chain, Ethereum,…


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