Despite Huobi Eco Chain attracting an impressive total value locked (TVL) since launching in December, just two DApps represent 86% of the blockchain’s TVL.
According to crypto data aggregator, CryptoRank, approximately $1.98 billion or 73% of Heco’s TVL is locked in the Mdex decentralized exchange.
Mdex is Heco’s rival to PancakeSwap, an automated market maker offering yield farming incentives to users. In early April, Mdex also launched on BSC to gain access to a wider range of tokens not supported on Heco Chain.
Yield aggregator Filda is the second-largest DApp on Heco, with Filda representing a TVL of almost $400 million or 13% of Huobi Eco Chain’s combined value locked. As such, all other DApps share the remaining 16% or roughly $300 million in assets locked in Heco.
Top Projects by TVL on Huobi Eco Chain
— CryptoRank Platform (@CryptoRank_io) June 7, 2021
Huobi’s Ethereum Virtual Machine (EVM)-compatible public chain was rolled out in December