These 5 DeFi Protocols Lost Over 86% Of Their TVL Today – CryptoMode

Cryptocurrency enthusiasts continue to focus on decentralized finance protocols and opportunities. Unfortunately, several DeFi protocols are on the verge of collapse today. It is better to avoid the following projects because their TVL has practically dried up in the past day.

Dune Swap (-100%)

It’s never a good sign when a DeFi protocol loses 100% of its TVL in a month. For Duneswap, this decrease in TVL occurred over the past day, confirming that the protocol has run its course. This is an unfortunate development for users of the Oasis blockchain who had high hopes for this AMM DEX on the Oasis Emerald ParaTime Network. The project reached an ATH TVL of over $12.5 million in mid-January and has since collapsed. After the final cash flow dried up, it looks like the project is done and dusted off for good.

QAO (-100%)

A similar situation affects QAO, a decentralized finance protocol on the Ethereum blockchain. He too lost 100% of his total locked value in the last 24 hours. It’s no surprise, as the platform has struggled since day one. Although it reached an ATH TVL of over $483,000 in Feb 202, it never managed to sustain its growth. Things got even worse in early April when his TVL fell from $228,000 to less than half overnight. The decentralized governance protocol for smart assets will require a solid reboot to attract new users, although that seems unlikely.

Casket financing (-98.54%)

It looks like Coffin Finance has put its final nail in the coffin. The Fantom-based DeFi protocol lost almost all of its total remaining value locked overnight. While the partially collateralized stablecoin tokens are intriguing, the funds have dried up. A sad development, as Coffin Finance had over $8 million in total value locked in November 2021, which fell to $1.6 million in two weeks. There are still funds locked in staking, although this money will soon leave the smart contract.

YSL.IO (-96.1%)

When YSL.IO positioned itself as a cutting-edge DeFi tool, people got excited. The protocol is designed to amplify returns from yield farming and maximize the benefits of locked-in liquidity. He even earned over $283 million in TVL at the start of January 2022 and kept most of it until two weeks ago when that TVL fell to less than $2 million. Most of the remaining funds have now been wiped out, signaling the end of this once-popular DeFi protocol on the BNB chain.

2Doge Finance (-86%)

Things continue to go from bad to worse for decentralized finance on the Fantom blockchain. 2Doge Finance is the second project to lose more than 86% of its TVL today. This is not surprising, as 2Doge Finance has struggled with liquidity since day one. It never reached above $156 in TVL – recorded in early March – and has faded into obscurity ever since. The contract still holds $0.42 at the time of writing, and pool2 has a balance of just over $9.

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