Cointime

Download App
iOS & Android

Gnosis Chain TVL has doubled since early October to $150 million

The total value locked (TVL) in the Ethereum sidechain Gnosis Chain has doubled since early October, increasing from $75 million to approximately $150 million, while transactions and fees on the network have also surged. Data shows that this surge was driven by the transfer of $50 million stablecoins to Gnosis Chain. These funds are being used to increase savings rates through MakerDAO's Spark lending protocol, which currently offers a rate of over 7%. By bridging to Gnosis Chain, more and more users are converting their xDAI to Savings xDAI, generating interest from all sDAI held on the mainnet bridge.

Comments

All Comments

Recommended for you