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21 June 2021

Pomp sparks debate: Has Bitcoin DeFi project Sovryn really overtaken Uniswap v3 by TVL?

Pomp sparks debate: Has Bitcoin DeFi project Sovryn really overtaken Uniswap v3 by TVL?


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On June 9, Bitcoin commentator, Anthony Pompliano, shared data to his one million followers from decentralized finance data aggregator, DeFi Llama, indicating the protocol had amassed a total value locked (TVL) of $1.95 billion — ranking it 14th for the sector and beating out DeFi darling Uniswap v3.

Pomp and many of his followers are aggrieved that Ethereum focused platforms such as DeFi Pulse do not list Bitcoin DeFi projects like Sovryn and Stacks, with the influencer stating:.

Ong believes that total trading volume should be the primary metric that decentralized exchanges (DEXes) are measured by, noting that volume “drives protocol revenue.” For the same reason, he argued that borrowing volume should be the principal measure of money market protocols

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cointelegraph.com
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