The total locked down value of the Huobi Eco Chain is $ 2.7 billion, but two DApps account for 86% of the locked assets

In spite of The Huobi Eco Chain has attracted an impressive Total Locked Value (TVL) since its launch in December, only two DApps represent 86% of the TVL of the blockchain.

According to the cryptocurrency data aggregator CryptoRank, Approximately $ 1.98 billion, or 73% of Heco’s TVL, is on the Mdex decentralized exchange. bound.

Mdex is Heco’s rival at PancakeSwap, an automated market maker that incentivizes its users to engage in high-yield farming.. In early April, Mdex was also launched on BSC to access a wider range of unsupported tokens on Heco Chain.

The total locked down value of the Huobi Eco Chain is $ 2.7 billion, but two DApps account for 86% of the locked assets
The total locked down value of the Huobi Eco Chain is $ 2.7 billion, but two DApps account for 86% of the locked assets

Yield Aggregator Filda is the second largest DApp in Heco: Filda represents a TVL of almost 400 million US dollars or 13% of the combined value of the blocked Huobi Eco Chain. Therefore, all of the other DApps share the remaining 16% or about $ 300 million of locked assets in Heco.

The Huobi’s Ethereum Virtual Machine (EVM) was launched in December 2020 to compete with the interoperable EVM chains in the emerging industry.

Despite the centralization of capital, Heco outperforms many of its competitors for TVL, including the $ 362 million TVL of the Solana performance blockchain, which has a total value of $ 362 million according to SolanaProject, and that of Avalanche, which has locked $ 225 million according to Explorer Markr.

According to Heco Chain statistics, the number of unique addresses that interact with the chain has grown 390% over the past three months to a record 12 million. Heco also reports a daily number of transactions of 1.67 million.

In April, Heco announced that it has received requests for 213 DApps waiting to be started on the blockchain.

Heco is also far from challenging its main competitor, Binance Smart Chain, which has a TVL of $ 20.6 billion. according to BSCProject more than seven and a half times that of Heco Chain. BSC’s main project is PancakeSwap blocked with $ 7.8 billion or 38% of the combined TVL of BSC.

Binance Smart Chain also hosts 1 million daily transactions, according to BSCscan.

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