- Rari Capital witnessed a significant increase in its TVL (total value locked) to more than $1 billion.
- RGT currently trades at $29.23 and has a daily trading volume $4,774,497.
Rari Capital, a protocol for decentralized finance (DeFi), saw its total value locked (TVL), rise to more than $1 billion.
DeFiPulse claims that DeFi’s lending, borrowing and yield generation protocols has exceeded the TVL milestone of $1.09 billion. Rari allows users to make any type of pool, including Non Fungible Tokens or NFTs.
Launched in July 2020, Rari automates DeFi by optimizing and moving users’ funds to the highest yielding grounds. The firm has been a hit with the blockchain and crypto community, as well as teenagers running it. On September 30, Rari Capital’s TVL had surpassed $500,000.
According to reports, this achievement was driven by liquidity pools offering higher returns than the industry average. The platform currently offers 21.67% annual percent yield on USDC-stablecoin deposits, and 26.43% in DAI pool.
Its Fuse protocol is also popular, which lets users create lending and borrowing markets by using cryptos with unrestricted parameters.
More so, Rari Capital expressed its excitement by thanking OlympusDAO — the algorithmic currency protocol that enables users to supply cryptos like ETH or DAI to create bonds that back its native currency OHM.
CoinGecko reports that Rari Governance Token (RGT), reached $34 at its highest level on October 11. RGT currently trades at $29.23 and has a 24 hour trading volume $4,774,497. Rari Governance Token has increased by 4.20% over the past 24-hour.
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