Rari Capital, a decentralized finance (DeFi) protocol for lending, borrowing, and yield generation has touched a new milestone when its TVL (Total Value Locked) increased to US$1.09 billion[...]
Rari Capital, a decentralized finance (DeFi) protocol for lending, borrowing, and yield generation has touched a new milestone when its TVL (Total Value Locked) increased to US$1.09 billion.
The incredibly fast rise of this DeFi protocol has marveled even the experts. Its TVL was hovering around US$500,000 on September 30, 2021. Within 15 days, the TVL of Rari Capital doubled to surge past US$1 billion. This protocol was launched in July 2020 for automating decentralized finance through the optimization and movement of users’ funds to the highest yielding incentives at that point in time.
Multiple liquidity pools offering higher than average industry typical returns have driven the momentum of the Rari Capital defi protocol. The annual percentage yield (APY) offered by Rari Capital on USDC deposits and the DAI pool are 21.67% APY and 26.43% APY respectively.
The Rari Capital’s Fuse Capital protocol also allows you to create customized lending-borrowing money markets with all kinds of assets as well as unlimited parameters.
“Tetranode's Locker” is the top pool, which has supplied US$655 million or 62% of the total out of 18 cryptocurrency assets, earning different yields. The OlympusDAO sOHM token within the Tetranode's Locker pool is currently yielding an APY of 7,594%.
OlympusDAO, an algorithmic currency protocol, allows you to supply cryptocurrency assets like DAI or ETH for creating bonds, which back its OHM native currency. The bonding process is a complicated one that works as a fixed income product on one hand and a derivatives contract on the other having quotes provided in OHM for trades at a future date. To propel the growth of TVL to more than US$1 billion, Rari Capital has thanked the “Ohmies ''.
David Silverman, Venture Partner at 3SE Crypto, has congratulated the team by saying:
“Huge congrats to @JackLipstone @jai_bhavnani @davidslucid and the whole @RariCapital team!”
The governance token of Rari Capital is RGT, which is performing well recently. In 2021 YTD (Year-To_date), RGT price has increased by a whopping 9,571.87%. RGT/USD is trading at US$31.33 at press time.