top evm projects

Top EVM Projects

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As we enter the third month of 2023, the DeFi landscape is more competitive than ever before. A plethora of EVM-compatible chains has emerged, each offering unique features and advantages over the others. In this article, we’ll dive into the top EVM chains by TVL, as of March 2023.

Top EVM projects

$27.42 billion TVL

It should come as no surprise that Ethereum is still the king of the hill. With over 706 protocols built on top of its platform, Ethereum boasts an unparalleled network effect and ecosystem of developers. Ethereum 2.0 is also on the horizon, promising faster transaction times and lower fees.

BSC

$4.98 billion TVL

BNB Chain 1024x386

Binance Smart Chain has been one of the most impressive success stories of the past year. With 556 protocols currently deployed on its network, BSC offers low fees and fast transaction times. While some have criticized its centralization, it’s hard to argue with the results.

$4.64 billion TVL

Tron has been a bit of a sleeping giant in the DeFi space, quietly amassing an impressive TVL of $4.64 billion. With only 17 protocols built on top of its platform, Tron has yet to attract the same level of attention as Ethereum or BSC. However, with its low fees and high throughput, it’s certainly worth keeping an eye on.

$1.58 billion TVL

Arbitrum is a Layer 2 scaling solution for Ethereum that has gained a lot of attention in recent months. With 234 protocols built on its platform, Arbitrum offers fast transaction times and low fees while still leveraging the security of the Ethereum network.

$1 billion TVL

Formerly known as Matic Network, Polygon has been making waves in the DeFi space with its fast and cheap transactions. With 385 protocols currently deployed on its network, Polygon has become a go-to choice for developers looking to build scalable applications on Ethereum.

$868.72 million TVL

Optimism is another Layer 2 scaling solution for Ethereum, offering fast and cheap transactions without sacrificing security. With 112 protocols currently deployed on its platform, Optimism has attracted a lot of attention from developers looking to build on Ethereum.

$768.38 million TVL

Avalanche is a relatively new entrant to the DeFi space, but it has quickly made a name for itself with its high throughput and low fees. With 290 protocols currently deployed on its network, Avalanche has the potential to become a major player in the space.

$420.03 million TVL

Fantom is another lesser-known EVM-compatible chain that has been quietly building a following. With 285 protocols currently deployed on its network, Fantom offers fast transaction times and low fees, making it an attractive option for developers looking to build scalable applications.

$369.1 million TVL

Cronos is a Layer 2 scaling solution for Ethereum developed by Crypto.com. With only 95 protocols currently deployed on its network, Cronos is still in its early days. However, with the backing of a major player like Crypto.com, it’s certainly worth keeping an eye on.

$204.16 million TVL

Klaytn is a Korean blockchain platform developed by Kakao. With only 38 protocols currently deployed on its network, Klaytn has yet to attract the same level of attention as some of the other EVM chains on this list. However, with its focus on mass adoption and partnerships with major companies like LG, it has the potential to become a major player in the DeFi space.

$162.59 million TVL

Fusion is a lesser-known EVM-compatible chain that focuses on interoperability and cross-chain functionality. With only 2 protocols currently deployed on its network, Fusion is still in its early days. However, its unique value proposition makes it an interesting option for developers looking to build more complex DeFi applications.

$114.06 million TVL

Celo is a mobile-first blockchain platform that focuses on financial inclusion and accessibility. With 39 protocols currently deployed on its network, Celo has made a name for itself with its focus on stablecoins and cross-border payments. As mobile adoption continues to grow, Celo could become a major player in the DeFi space.

$108.74 million TVL

Canto is a newer entrant to the DeFi space, offering fast and cheap transactions through its EVM-compatible chain. With only 11 protocols currently deployed on its network, Canto is still in its early days. However, its focus on privacy and anonymity could make it an attractive option for developers looking to build privacy-focused applications.

$72.29 million TVL

Ronin is a blockchain platform developed by the team behind the popular game, Axie Infinity. With only 2 protocols currently deployed on its network, Ronin is still in its early days. However, its focus on gaming and NFTs has already attracted a significant amount of attention from both gamers and investors alike.

$67.48 million TVL

Aurora is a Layer 2 scaling solution for Ethereum that offers fast and cheap transactions. With 52 protocols currently deployed on its network, Aurora has made a name for itself with its focus on gaming and NFTs. As gaming continues to become a more important part of the DeFi space, Aurora could become a major player in the space.

In conclusion, the DeFi space is constantly evolving and the competition among EVM-compatible chains is only getting fiercer. While Ethereum still dominates the space, newer entrants like BSC, Tron, and Arbitrum are quickly gaining ground. It will be interesting to see how these chains continue to evolve and compete in the years to come.

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