Avalanche’s Struct Finance TVL Surges 120%, Secures First Spot. 

Struct Finance has recently defied all odds and risen to the top, outshining established platforms in the space.

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  • Despite Avalanche’s competitive DeFi ecosystem, Struct Finance has surpassed established platforms. 
  • Struct Finance has emerged as one of the fastest-growing Avalanche-based DeFi platforms. 
  • Will Struct Finance surpass leading Avalanche-based DeFi platforms like Aave and Benqi? 

Avalanche has one of the most decorated DeFi ecosystems in the industry. It hosts some of the industry’s leading platforms, such as AAVE and Benqi, each boasting TVLs surpassing major chains like Cardano and Bitcoin. Therefore, standing out in such a fiercely competitive space can be challenging, but not for Struct Finance. 

As a new Avalanche-based DeFi protocol, Struct Finance has recently defied all odds and risen to the top, outshining established platforms in the space.

Struct Finance, A Wildcard Entry

Avalanche-based DeFi platform Struct Finance has had an extraordinary week, experiencing a staggering 150% growth in its total value locked (TVL). Data aggregator DeFiLlama reveals that the protocol’s TVL skyrocketed from $350,000 to over $940,000 between July 12 and July 19, cementing its position as the fastest-growing Avalanche-based Defi platform during that period.

Subsequently, Struct Finance’s unprecedented growth placed the platform as the 18th fastest-growing DeFi platform across all blockchain platforms over the week. At press time, the protocol ranked as the 34th largest Avalanche-based DeFi platform by TVL, trailing prominent platforms like Pendle and Sushi

It’s worth noting that Struct Finance, having launched on June 21, is only a month old. Still, the platform’s interest rate vaults and yield-bearing products have garnered widespread attention from the DeFi community.

Struct Finance’s success highlights Avalanche’s thriving DeFi ecosystem. While the network’s TVL has decreased since the start of the year, it still is the 7th largest DeFi ecosystem and houses some of the top platforms in the sector. Given its rapid growth, the platform could soon be among the leading DeFi protocols. However, the journey may be daunting, considering the competition

On the Flipside

Why This Matters

Avalanche is emerging as one of the top DeFi ecosystems in the industry. The success and growth of platforms like Struct Finance solidifies the network’s reputation for manufacturing leading DeFi platforms. 

More on Avalanche:

Bank of America Heralds Avalanche: “Future of Tokenization”

More on Cardano: 

Cardano Bulls Reclaim Crucial Support, Eyeing Retest of $0.38

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Insha Zia

Insha Zia is a senior journalist at DailyCoin covering crypto developments, especially in the Cardano ecosystem. With a Bachelor of Science in Computer Systems Engineering, he delivers high-quality articles with his technical background and expertise in data analysis and programming languages, aiming to educate and inform readers accurately, transparently, and engagingly. Insha believes education can drive mass adoption of the crypto space, and he is committed to giving DailyCoin readers a better understanding of the technology.