Rari Capital surpasses $1 billion in TVL, effective yield of OlympusDAO tokens 7594%.
Rari Capital surpasses $1 billion in TVL, effective yield of OlympusDAO tokens 7594%.Rari Capital surpasses $1 billion in TVL, effective yield of OlympusDAO tokens 7594%.DeFiDeFi

The TVL value (total value of locked tokens) of DeFi’s Rari Capital protocol has surpassed $1 billion this week. This brings it to an all-time high of $1.225 billion, according to data from DeFi Pulse. Just two weeks ago, Rari’s TVL value was $500 million, less than half that. Three months ago, it was even less than a tenth ($100 million).

Rari was just launched in July 2020 and offers DeFi participants an automated strategy to optimize returns. The goal here is for participants to achieve the highest possible returns. Some of the liquidity pools ahead of Rari, such as USDC and Dai, have impressive returns. With corresponding 21.67% and 26.43% annual effective yields, they have attracted a lot of attention, he said.

Celsius valued at more than $3 billion

Celsius Network, a crypto lending platform, announced this week that it has raised $400 million in equity. The funding was led by equity firm WestCap as well as pension fund CDPQ. With this round, Celsius is now valued at more than $3 billion. The lender plans to use the funds to double its headcount and improve its products and services for institutional investors.

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Alex Mashinsky, CEO of Celsius Network, spoke to Cointelegraph about the company’s impact on the lending industry:

With more than $25 billion in assets and over $850 million in returns paid out to more than 1.1 million users, Celsius has distributed 10 times more returns to the crypto community than any other lender.

Last month, the Texas State Securities Board and the New Jersey Bureau of Securities threatened to shut down Celsius’ operations for allegedly selling unregistered securities.

Volume of DeFi transactions surges in North America

In North America, cryptocurrency transaction volume jumped 1,000% year-over-year, according to data from Chainalysis. The analytics platform attributes it to the booming DeFi sector. DeFi transactions totaled $276 billion, accounting for 37% of the total volume.

According to the analytics data, DeFi’s TVL value rose 8.11% this week, reaching an all-time high of $146.89 billion.

David Gogel of decentralized derivatives exchange dYdX commented:

Right now, DeFi is targeting crypto insiders. These are people who have been in the industry for a while and have enough funds so they can experiment with new assets.

OlympusDAO’s token yields 7594% annual effective return

OlympusDAO, an algorithm-powered rebase model within the Tetranode Locker of the Fuse protocol, is yielding remarkable returns. The annual percentage return reaches a value of 7,594%. The balance of this token fluctuates depending on supply as well as price changes of the token.