DeSyn Protocol, a decentralized asset management and restaking platform, saw its total value locked (TVL) hit the $1 billion mark on Tuesday, November 19, according to DefiLlama data. The aggregate value of DeSyn pools has nearly doubled since the beginning of the month.
In mid-September, we reported that DeSyn had reached a record $220 million. The protocol’s TVL has more than quadrupled within the last two months, with the majority of gains occurring in the last three weeks.
DeSyn has entered the top 40 largest DeFi apps by TVL and is the best monthly performer among the $1 billion league.
The protocol provides passive income opportunities across eight major blockchains, with Bitlayer accounting for a third of its total TVL. Other supported chains include Core, Mode, AlLayer, zkLink Nova, Ethereum, Merlin, and Arbitrum.
The platform offers three main types of funds:
Simple deposit products – this category goes as “DeSyn Safe” on DefiLlama. These pools include airdrops from DeSyn, new chains, and others (if the assets are LRTs).
Liquid fund products – on DefiLlama, these funds are part of the “DeSyn Liquid Strategy.” These pools are related to assets deployed across multiple DeFi protocols, including lending apps, decentralized exchanges (DEXs), and restaking platforms. They offer features like auto-lending strategies across lending pools, ETH and BTC restaking, leveraged staking, and more.
Basis trading products – here, investors benefit from on-chain airdrops from DeSyn and other chains, as well as structured returns from the basis trading on Binance.
On November 8, the TVL of DeSyn’s Basis Trading pools, dominated by Bitlayer and Core, dropped from a record $472 million to about $200.
Most of the pools moved to Simple Deposit and Liquid Fund markets.
On DefiLlama, DeSyn Safe’s TVL surged to a record $472 million, becoming the fourth-largest farm protocol after Zircuit Staking, Swell, and Corn Kernels. WBTC on Bitlayer and bfBTC on AlLayer account for the largest share of deposits, followed by MBTC on Mode.
Meanwhile, DeSyn Liquid Strategy’s TVL surged to nearly $650 million thanks to record inflows on November 18 and 19. OBTC on Core, WBTC on Bitlayer, and MBTC on Mode are the largest pools.
Meanwhile, the DeSyn Liquid Strategy product is the largest yield aggregator in DeFi, surpassing ether.fi Liquid, Beefy, and Yearn Finance.
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