DeFi protocol ThenaFi_ has experience an uptick in TVL from $5 million to $90 million in one week as the DeFi market continues its recovery. Reporting by OKnightCrypto.
Thena, a liquidity layer and decentralized exchange on the BNB Chain, has experienced a massive uptick in total value locked to $90 million from $5 million since its launch last week.
The protocol offers yields of up to 9.93% for liquidity providers that stake stablecoins, while yields of 222.86% are available to those that stake the platform's native token, THE. At the time of writing, THE was trading at $0.262 with a circulating market cap of just $4.2 million, according to data onThe token draws inspiration from Curve's vote-escrow model as well as Olympus' anti-dilution mechanism. Holders control 100% of Thena’s emissions and benefit from weekly rebases.
The decentralized finance sector has benefitted from the recent recovery in major crypto assets like bitcoin and ethereum. TVL across DeFi hasThena also issued an airdrop for early investors that minted a theNFT.
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