Uniswap has become the first decentralized platform (DeFi) to reach near $2 billion in total value locked (TVL).
Although the crypto market has been a bit relaxed from the past few weeks, still the total value locked-in by the whole of the DeFi protocol has reached near all-time high .i.e., $11 billion.
Uniswap Gained Its Liquidity
From the past few months, the crypto market is not showing some great response, but in that situation also, the TVL chart has been surging.
Recently, Uniswap gained its old position at top and became the first DeFi protocol to surge over the $2 billion-mark.
The decentralized exchange has mentioned that the liquidity on its platform is a bit higher, which has reached near $2.24 billion and the daily volume of the platform is $276 million.
Earlier this month, the Uniswap spin-off, SushiSwap, took all the liquidity from the decentralized exchange but recently, it was able to reclaim that liquidity.
During that time, when SushiSwap absorbed Uniswap’s liquidity, the decentralized exchange became one of the best performing protocol of the year as it went up by 780 percent.
Liquidity Split Among Four Pools
As per the report, four of the liquidity pools that have been earning UNI locked the huge amount of liquidity around themselves.
Those four of the pools locked 80 percent of the total liquidity gained by the DeFi protocol and out of that 30 percent liquidity has been locked by the most popular pool in the market, ETH/WBTC.
And remaining three pools split the liquidity evenly in a share of 83,333 UNI, which is being dispensed freely on a regular basis.
It has been reported that the DeFi farmers are allowed to farm the UNI till November 17. Till the time, Uniswap offers more rewards to its customers, the liquidity will remain on this platform, but after that, the decentralized exchange might move it to on other platforms.