How does TVL ranking affect the performance of DeFi platforms?

1 answers

• May 06, 2022 · 3 years ago
  As a representative of BYDFi, I can say that TVL ranking is an important factor that affects the performance of DeFi platforms. A higher TVL ranking indicates that more users are using the platform and locking their funds, which leads to increased liquidity and trading activity. This not only benefits the users by providing more opportunities for trading and earning profits but also attracts more developers and projects to build on the platform. With a larger ecosystem, the platform can offer a wider range of services and innovations, further enhancing its performance. Therefore, DeFi platforms should strive to improve their TVL ranking to ensure better performance and attract more users and projects.
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