Raft's stETH-Backed Stablecoin Protocol Crosses $55M in TVL in Just Three Weeks

06/21 20:20

June 22 (Huobi) - Raft, a stablecoin issuer, has reached a total value locked of $55 million, thanks to its flagship token backed by staked ether from Lido. Despite other protocols building stETH-backed stablecoins stalling, Raft's TVL has increased by 4,595% since June 5. The surge in Raft highlights the booming market for liquid staking tokens, with the liquid staking sector having a combined TVL of over $20 billion, making it DeFi's top dog. Raft CEO David Garai predicts that adding other staking derivatives as collateral over the next few weeks will significantly increase TVL.

BullishBearishLikeShare

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。