Weekly DeFi review by Delta Theta

The total blockchain value locked (TVL) among all blockchains responded to the latest market crash and showed a fall of more than $20 billion (about 10%).

It is worth emphasizing that the fall in this indicator, along with the withdrawal of assets from contracts, is caused by the drop in the dollar value of locked-in assets in contracts.

Total value locked (TVL) within the BNB Smart Chain fell by $400 million over the past week (about 2.7%). This is a multiple lower than the overall figure in relative terms.

The total value locked (TVL) within the Polygon blockchain decreased by $170 million (3.2%) in the past week. 

News

Uniswap Labs, the main developer of the Uniswap decentralized exchange protocol, has launched a new venture capital arm. Uniswap Labs Ventures will invest in web 3 projects in various categories, with a particular focus on startups building blockchain infrastructure, developer tools, and consumer-facing applications. Prior to launching its venture arm, Uniswap Labs invested in 11 startups, including MakerDAO, Aave, Compound Protocol, PartyDAO, LayerZero, Tenderly, and others.

Binance, the BNB Smart Chain developer, has received approval in principle from Abu Dhabi Global Market (ADGM) to operate as a broker-dealer for digital assets. According to Binance's head of the Middle East and North Africa and former head of ADGM, the world's largest cryptocurrency exchange by trading volume should now complete the application process. In addition to expanding its exchange operations, Binance is set to open a blockchain technology center at the Dubai World Trade Centre.

Popular trading app Robinhood has added several popular cryptocurrencies to its terminal. These include the hype meme Shiba Inu, the decentralized lending protocol Compound, and the native blockchain tokens Solana and Polygon. The exchange has added special additional pages for each of the four coins, informing potential traders that they can register to buy or sell each of the cryptocurrencies. 

Ava Labs Inc., the leading blockchain developer Avalanche, is in the process of raising a new round of funding. The new valuation would make the company one of the highest valued cryptocurrency startups in the world. The company, founded and led by Cornell University professor Emin Gun Sirer, is raising $350 million for a total valuation of $5.25 billion. Speaking of TVL, this blockchain has made significant growth in this metric at the end of 2021 and is now fourth in the absolute rankings behind Ethereum, Terra, and BSC.

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