VaultCraft is currently the best weekly performer in DeFi, with its total value locked (TVL) gaining over 5,600% in the past seven days. The yield protocol, which allows crypto holders to generate returns by selecting from various yield strategies, has attracted over $100 million worth of tokens.
On December 16, VaultCraft had less than $1.7 million in TVL, the lowest level since January of this year. The protocol’s TVL dropped significantly in September, declining from a peak of over $22 million.
Despite the ongoing pressure on VaultCraft’s liquidity, the yield platform has managed to rebound and break previous records. On December 17, the protocol’s TVL surged to a record $107 million before correcting to the current level of $100.6 million. Despite the recent correction, VaultCraft remains the best weekly performer.
The rapid TVL growth has been driven by its institutional partner Matrixport, which deposited 1,000 BTC as part of VaultCraft’s launch of its v2. Thanks to this contribution, the protocol’s largest token by TVL is NexusBTC (NBTC), a wrapped Bitcoin version from Matrixport meant to facilitate cross-chain transactions within the DeFi ecosystem. Ethereum-based NBTC accounts for nearly 93% of VaultCraft’s liquidity, followed by Wrapped Ethereum (WETH) with 6%.
VaultCraft offers a multi-chain infrastructure focused on EVM chains, including Ethereum, Polygon, Arbitrum, Optimism, and BNB Smart Chain (BSC). After the Matrixport deposit, Ethereum accounts for the lion’s share of the platform’s TVL.
VaultCraft’s flagship products are smart vaults, which offer automated DeFi yield and charge zero deposit and withdrawal fees. The NBTC Vault is currently the largest one, although its annual percentage yield (APR) has not yet been disclosed. The second-largest vault, WETH on Optimism, pays an APY of 1.6%.
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