ERGO: TVL Increases 1 Million Dollars

ERGO total value locked hasn't moved much for a long time, but in the last days went from 1.5 million dollars to 2.5 million dollars. While this might not seem much, we have to have in consideration that ERGO DeFi is still in its infancy and moves like this need to be highlighted. You migh be asking what lead to this increase in TVL, so lets go through it.

Over the last fee weeks ERGO development has been on fire, two wallets with dapp connectors surged, we are talking about Nautilus and SAFEW. Yoroi has launched its dapp connector too. All of this helped to push the TVL up because it's a lot easier to interact with ErgoDex with this wallets. The fact that Nautilus and SAFEW are quicker than Yoroi also helped. Yoroi has a history of becoming slow when the wallet has to many eUTXO but Nautilus came and solved this issue, Nautilus handles boxes very well and syncs almost instantly.

The dapp connector on Nautilus also works very well and brings a smooth user experience to ERGO. Yoroi is the most known wallet for ERGO and Cardano, although its a bit slower when the dapp connector was launched it lead its users to use it and to use it on ErgoDex aswell.

Another thing that helped a lot was the ErgoPad launch on ErgoDex. When the token launched the 24 hours volume of ErgoDex increased to 300k $. The volume increased by more than 200 times. It seems that the popularity of ErgoPad helped a lot on increasing the TVL.

The crypto market also helped, every coin pumped a little bit in the last days, which lead to an increase on the value of the tokens locked in liquidity mining.

These are good news to ERGO, the project has a lot of development and popularity and that seems to be affecting the total value locked on its DeFi. It's nothing compared to other blockchains that already are in the range of billions in TVL, but it's a major step forward for a young project like ERGO.

Inspite of a hard fall in its price, ERGO continues to surprise everyone with its well built and friendly community, developers continue grinding hard to deliver the best tools on ERGO. Everyday there's news about something new that is being developed or atleast there's updates about the current state of the projects being developed. This team is incredible dedicated on decentralization and on making ERGO a successful project.

There are not many projects like ERGO out there, the fairness of ERGO seems to make everything possible.

Follow me also on Publish0x.

Best Regards,

Cryptopeach