Biggest DeFi protocols across multiple blockchains as of June 29, 2022
The biggest Decentralized Finance protocols in terms of TVL - how much crypto is deposited in the system - were MakerDAO and Compound. Protocols are autonomous programs based on a set of rules and smart contracts that enable the exchange of financial services among users - including stablecoins. Dai (DAI), for example, is the stablecoin of the MakerDAO protocol. Protocols can also include financial applications: Curve (CVR), for example, is a decentralized protocol aimed at crypto borrowing. The overall DeFi market size reached 274 billion U.S. dollars as of November 2021.