Orbit Lending has reached a significant milestone on the Blast_L2 mainnet, breaking $200M in Total Value Locked (TVL), which accounts for 10% of the entire $2B Blast_L2 ecosystem. The platform's USDB pool has amassed $26.4M USD, while its ETH pool contains 56.41K ETH, equivalent to $193.5M USD. This growth in TVL highlights the increasing interest and investment in decentralized finance (DeFi) platforms within the Blast_L2 ecosystem. Additionally, there's an ongoing discussion about the accuracy of TVL reporting for the Blast ecosystem. Concerns have been raised regarding the need for mapping the Blast stablecoin deposit address on debank to accurately count all TVL, as stablecoins are converted to DAI and deposited to Maker to earn interest. These deposits, secured by the Blast bridge, are argued to be included as Blast deposits for a more accurate representation of the ecosystem's TVL.
Blast is tracking at $2.6bn Total Value Locked (TVL) and 291k users Lending dApps are capturing a significant portion; Pac Finance has accumulated 7% of the Blast TVL I'll explain why🧵(1/9) https://t.co/h1EA56S20g
The Blast stablecoin deposit address needs to be mapped on debank to accurately count all the TVL since the stablecoins are converted to DAI and deposited to Maker to earn interest The TVL is still secured by the Blast bridge however, so it should be included as Blast deposits https://t.co/dtFRu0bHW6 https://t.co/Df9bdqeD0g
The Blast stablecoin deposit address needs to be mapped on debank to accurately count all the TVL since the stablecoins are converted to DAI and deposited to Maker for earn interest The TVL is still secured by the Blast bridge however, so it should be included as Blast deposits https://t.co/Lp6JcRye9z https://t.co/Df9bdqeD0g
I commented on this when originally criticizing the coindesk article The Blast stablecoin deposit address needs to be mapped on debank (or another similar service) to accurately count all the TVL since the stablecoins are converted to DAI and deposited to Maker to earn interest https://t.co/K7P862DFo7 https://t.co/Df9bdqeD0g
Does anyone have a contact with @l2beat? They're not indexing Blast TVL accurately. Specifically, they're missing $180m worth of stablecoin deposits, which can be found here https://t.co/p5eEyp1oVS
Orbit Lending on @Blast_L2 mainnet has just broke $200M in TVL 🥮 $26.4M USD in our USDB pool 56.41K ETH in our ETH pool equalling $193.5M USD Start earning liquid $ORBIT at https://t.co/04kbHJSXPb This takes @OrbitLending to 10% of the entire $2B @Blast_L2 ecosystem 🥮 https://t.co/ifMHNqjhJK