The Total value locked (TVL) in DeFi protocols is currently 72 billion dollars worth of assets. At the peak of the bull run, TVL was around 230 billion dollars. DeFi protocols have worked frictionless and smooth during the previous quarter’s downtrend. So, if you have been thinking of investing in DeFi tokens, here is a list of the top 5 DeFi tokens of the week. These protocols are performing well during this bear market also. Top 5 DeFi Tokens of the Week 1. ThorChain Based on Tendermint and Cosmos SDK, ThorChain is a decentralized cross-chain liquidity system. It merely decides how to move assets in response to user activities; it does not peg or wrap items. As a leaderless vault manager, THORChain makes sure that each step of the process is byzantine-fault tolerant. The main goal of THORChain is to provide cross-chain liquidity while preventing centralization and capture. Only the assets stored in THORChain’s vaults are secured, and the security of those assets is backed by financial assurances. The THORChain ecosystem is powered by the token RUNE, which also offers the financial incentives needed to keep the network safe. The four crucial roles for RUNE are: Liquidity (as a settlement asset) Security (as a Sybil-resistant mechanism, and a means for driving economic behavior) Governance (signaling priority on-chain) Incentives (paying out rewards, charging fees, subsidizing gas) RUNE is used for network transaction fees. Bo...
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