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DeFi’s ecosystem has come a long way over the past few months. From a Total Value Locked (TVL) figure of $539.8 million right after the market crash in March, it has recovered extraordinarily well to climb to $5.77 billion, at the time of writing. In the eyes of many, DeFi is the hot property of the year.
A lot of factors have contributed to the growth of this ecosystem, namely – Yield farming, workable token accretion models, and decentralization-enforcing community and governance are just some of them. However, what is characteristic of such booming growth? Well, we are seeing exchanges jump onto the bandwagon and list DeFi projects left, right, and center.
OKEx is one of them, with the Malta-based exchange announcing yesterday that it became the first crypto-exchange to list Curve Finance’s Governance Token, Curve [CRV]. Following the announcement, spot trading against USDT soon went live, with trading pairs against Bitcoin and Ethereum launching soon after. Another one of the world’s biggest crypto-exchanges, Binance, followed soon after with a listing of its own.
OKEx CEO Jay Hao had this to say about the development,
“To a certain extent, the emergence of Curve indicates that DeFi has entered a new stage of development….. OKEx is very optimistic about the potential of DeFi, especially with the continuous development of blockchain technology.”
These announcements will give further impetus to a project which was noting figures of $794.4M in Total Value Locked after climbing by over 120% in 24 hours, at the time of writing. In light of how projects like Yearn Finance have done following their token’s listing, the same can be expected for Curve.
In fact, according to many, the project’s growth will help allay recent concerns in the community since it was an anonymous developer who deployed Curve Finance’s DAO and smart contracts, without the team’s permission.
CRV isn’t the only DeFi project in the limelight, however, as OKEx also listed Aave [LEND] and Serum [SRM]. As has been highlighted previously, according to some, the former has one of the best token accretion models in the industry. The latter, on the other hand, surged by 1200% over 12 hours after a Binance listing.
Finally, Binance also listed Synthetix on Binance Futures.