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Anthony Pompliano: Sovryn Has a Higher TVL Than Uniswap

Anthony Pompliano Sovryn Has a Higher TVL Than Uniswap
  • Anthony Pompliano tweeted that Sovryn has a higher TVL than Uniswap.
  • Sovryn is a BTC money market protocol built on the Bitcoin-based smart contract platform RSK.

Anthony Pompliano, an entrepreneur and investor, tweeted that Sovryn has a higher TVL than Uniswap.

According to Pompliano, Pomp, Sovryn recently looked to be shooting up through decentralized finance rankings. Sovryn is a BTC money market protocol built on the Bitcoin-based smart contract platform RSK.

Pompliano shared data with his Twitter followers. The data is from the decentralized finance data aggregator, DeFi Llama. More so, the data indicates that the protocol had gathered a total value locked (TVL) of $1.95 billion. Moreover, this led it to rank 14th for the sector and beat out DeFi darling Uniswap v3.

Furthermore, many of his Twitter followers replied to the tweet. They were aggrieving that Ethereum focused platforms such as DeFi Pulse do not list Bitcoin DeFi projects like Sovryn and Stacks.

However, some Ethereum ecosystem enthusiasts opposed the idea that Sovryn had amassed a ten-figure TVL. One of the Twitter accounts said that staked governance tokens might have contributed to an exaggerated TVL estimate.

Since Pomp’s post, DeFi Llama has changed its data for Sovryn. Now it is listing the project as having a TVL of just $52 million. The updated data now matches the TVL that Sovryn’s wiki gave.

Moreover, DeFi Llama also confirmed that its prior estimate of Sovryn’s TVL was nearly $2 billion. Also, it had resulted from including the cap of staked assets. Besides, DeFi Llama added that it would soon issue an update to its website. This is to let users choose whether or not staked assets are included in TVL data.

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Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.