For today’s Daily, let’s take a quick look at the impact of yield farming and liquidity mining on DeFi protocols over the past couple of weeks.
Starting off, total value locked and DEX volumes significantly increased as shown by the graphs below. Per Dune Analytics, DEXs recorded more than $470 million in volume over the last 7 days, with Uniswap responsible for $158 million worth. Over the past 24 hours, Balancer has led DEX volume with $32.4 million, though this is somewhat due to the recent Balancer pool exploit. Two weeks ago, Curve’s volume hit an impressive $54.5 million, which was primarily driven by COMP yield farming. In additional, DeFi protocols total value locked (TVL) increased from ~ $1.04B to $1.63B over the last 14 days.
Below are some key stats and charts diving into more depth on this trend.
BalancerBalancer in less than three m