zkSync Era has quickly become a popular platform for decentralized finance (DeFi), with several protocols locking significant liquidity. According to DefiLlama, Sygnum Bank leads the pack with $50.5 million in total value locked (TVL). This means that there is a significant institutional payload for the platform, which is evident from the following analysis. This proves that zkSync is increasingly becoming popular in the DeFi sector. This large number demonstrates that zkSync investors are trusted and the growing institutionalization of actors in the network.
SyncSwap Secures $21M in Liquidity, Leading zkSync Era’s DeFi Protocols
After Sygnum Bank, the next one is SyncSwap that has $21 million in TVL. This positions the Swap among the most used DeFi integrations in zkSync Era and that makes the platform suitable for decentralized trading.
Venus Protocol, a decentralized money market, is in the third position with $9.83 million TVL. It is recognized for providing lending and borrowing services, and its excellent result on zkSync Era proves that such services are in great demand now. Another protocol from the same family is zkSWap with the TVL of $7.32 million. Once again, it has proved that zkSync is universal when it comes to DeFi applications.
Maverick has also been active on the zkSync Era, with the TVL of $ 6.88 million. Its unique solution for decentralized trading has allowed it to establish itself as one of the most important parts of the network. Next up is PancakeSwap, one of the most popular DEXs in the DeFi space with $6.27 million in TVL proving that this platform has also attracted the attention of zkSync users.
zkSync Era Attracts Diverse DeFi Products with Strong TVL Growth
The yield farming platform Koi Finance has a TVL of $6.14 million, which proves the attraction to the products of the DeFi project. Other active DeFi applications on zkSync Era are HOLD with $2.83 million, RF with $2.7 million, and AAVE with $2.55 million, which indicates that more and diverse DeFi products are being integrated into the platform.
The expansion of these protocols on zkSync Era, reported by DefiLlama, demonstrates its flexibility to support various DeFi use cases while attracting both liquidity and users. Given the current advancement of zkSync, the overall value that is locked in the ecosystem will likely increase further.
Source: https://blockchainreporter.net/sygnum-bank-leads-on-zksync-era-with-50-5m-tvl-showing-strong-institutional-interest/