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KLAPa DeFi lending protocol on Klaytn Network has seen its total value locked soar above one hundred million in a week after its launch. The dApp, spun up by DeFi KLAP has stepped in to create a platform that emulates the ve-tokens popularized by Curve and paired with an Aave-style lending interface. In addition to KLAY, the According to Defi Llama, KLAP is already the second largest dapp on Klaytn after pioneer DEX KlaySwap. Launched on June 24, KLAP has already reached $102M in total Launched in late June, KLAP has rapidly accumulated an impressive $79.3 million in TVL, enabling it to become the DeFi protocol with the second-highest amount of Real-world asset lending protocols are also gaining traction, with TVL in the category up 106% this May. Vivacity Finance emerged as a key player, offering users the KLAP – a DeFi lending protocol on Klaytn Network has seen its total value locked soar above one hundred million in a week after its launch. The dApp, spun up by DeFi accelerator Krew, is

KLAP DeFi Lending Protocol Explodes: $100 Million TVL in First Week on Klaytn

KLAP, a groundbreaking DeFi lending protocol on the Klaytn Network, is making waves in the crypto space. In an astonishing feat, KLAP has seen its total value locked (TVL) soar above $100 million within just one week of its launch. This remarkable growth positions KLAP as a major player in the decentralized finance landscape.

The dApp, spun up by DeFi accelerator Krew (also sometimes referenced as DeFi KLAP), has successfully created a platform that combines the best of both worlds: ve-tokens, popularized by Curve Finance, and an Aave-style lending interface. This innovative approach has quickly attracted significant investment and user adoption.

KLAP Rapidly Climbing the Klaytn DeFi Ranks

According to Defi Llama, KLAP is already the second-largest dApp on Klaytn, trailing only the pioneer DEX KlaySwap. Launched on June 24th, KLAP quickly surpassed milestones. While recent data might show a slight fluctuation, with some reports indicating around $79.3 million in TVL soon after launch, the underlying trend remains clear: KLAP is experiencing exponential growth.

The protocol’s rapid rise to prominence highlights the increasing demand for DeFi solutions within the Klaytn ecosystem. This success also demonstrates the effectiveness of KLAP's design and its ability to attract users seeking secure and efficient lending opportunities. In addition to KLAY, users are leveraging the platform for various lending and borrowing activities.

DeFi Lending and Real-World Asset Lending Gain Traction

The success of KLAP coincides with a broader trend of growth in DeFi lending, particularly in areas like real-world asset (RWA) lending. For instance, Real-world asset lending protocols are also gaining traction, with TVL in the category up 106% this May. While KLAP isn't exclusively focused on RWA, the overall positive sentiment towards decentralized lending certainly contributes to its success. Vivacity Finance, for example, has also emerged as a key player, highlighting the dynamic nature of the DeFi space.

KLAP's impressive performance in its first week signifies a promising future for the protocol. As the platform continues to evolve and attract new users, it is poised to become a leading force in the Klaytn Network and the broader DeFi ecosystem.

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