The decentralized finance universe has been dependent on loans that are based upon cryptocurrencies since smart contract-based loan/borrowing services began to offer them. It is believed to be the first network that has scaled smart contract functionality.

DeFi Pulse data shows that lending protocols make up the top 4 DeFi protocol. You can also open an accountOnly 49% of TVL in the whole DeFi market is on Ethereum, which amounts to $37.04 Billion. Ethereum is the DeFi market’s most used blockchain and has the highest TVL. Aave is the largest player here with an estimated TVL of $11.19billion and $14.52billion, respectively.