As confirmed by DefiPulse, the total value locked on the decentralized finance protocol, Rari Capital has risen past the $1 billion mark. In accordance with the dashboard of the application and DefiPlus confirmations, the Defi lending, borrowing, and yield generating protocol has managed to surpass the key milestone in the total value locked reporting it to be standing at $1.09 billion.
Rari Capital Defi Protocol has reportedly topped $500,000 doubling the collateral on September 30. The protocol launched back in the month of July of the year 2020 in order to computerize Defi by optimizing and moving the funds of the users to the highest yielding incentives at the time and the total value locked (TVL) has surged significantly.
It has been revealed that a number of liquidity pools offering higher than the typical returns of the industry has driven the latest momentum. Also, it should be noted that it is offering a 21.67% annual percentage yield on USDC deposits and 26.43% APY in the DAI pool.
In addition to this, it has been revealed that the Fuse protocol has been a whole lot popular as it allows the users to create custom lending and borrowing money markets along with any assets and unlimited parameters.
The governance token of Rari Protocol, RGT, managed to hit an all-time high on October 11, Monday, when it climbed to $34. It has managed to gain more than 50% over the past fortnight and is currently 93% up over the past 30 days. At present, RGT has been trading for $29.77.
Back in the month of May, Rari Capital was exploited for $11 million which was the prime reason for the crash in the price of the token, when it slipped to $4.80.