Staked assets liquidity provider Lido is next on the list with over $5.4 billion in TVL. In third place is decentralized exchange (DEX) Terraswap, which has seen its TVL increase over 95% in the past week. Terraswap matches peer-to-peer trades between users using Terra’s smart contracts. All liquidity, as on other DEXs, is contributed by the users themselves, in return for token rewards based on the amount of liquidity they provide for each trading pair.
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