DeFi protocol Thena grows rapidly to a total of $ 90 million in a week | coindesk JAPAN | Coindesk Japan

Thena, a liquidity layer and decentralized exchange (DEX) on the BNB chain, has raised assets under custody (TVL) from $5 million to $90 million since its launch last week. 25 million yen).

The protocol offers a yield of up to 9.93% for liquidity providers holding stablecoins, while holders of THE, the platform’s native token, will enjoy a yield of 222.86%.

According to data from blockchain analytics platform Dune Analytics, at the time of writing, THE is trading at $0.262, with a market capitalization of just $4.2 million in circulation.

The token takes cues from Curve’s boat escrow model and Olympus’ anti-dilution mechanism. Holders have 100% control over Thena’s emissions (the speed at which new coins are minted and released) and benefit from weekly rebases.

The decentralized finance (DeFi) sector has benefited from the recent recovery of major crypto assets such as Bitcoin (BTC) and Ethereum (ETH). Overall DeFi TVL has increased from $38.75 billion to $45.46 billion since the beginning of the year as capital that flowed out during the bear market began to return bottom.

Thena also airdropped minted theNFT to early investors.

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
| Image: Thena website
｜Original: DeFi Protocol Thena Sees Total Value Surge to $90M in a Week