Capybara Decentralized Exchange Accumulates $7.5 Million in Total Value Locked following a 750% monthly surge on the Kaia platform.
In the rapidly evolving world of decentralised finance (DeFi), a new player has emerged on the Kaia chain, with Capybara Exchange leading the charge in terms of growth. However, there is currently no specific data available on the Total Value Locked (TVL) or detailed growth trends for Capybara Exchange on the Kaia chain, nor direct comparative figures for KlaySwap and DragonSwap on the same chain.
Despite limited data from general search results, Kaia chain is actively developing its ecosystem, with a focus on stablecoins and payment usage scenarios. These developments could potentially impact future TVL growth for DeFi protocols on the chain.
For precise and up-to-date TVL and growth comparisons, platforms like DefiLlama, which specialises in DeFi TVL aggregation, would typically be the authority. However, the current public snapshots from DefiLlama do not list Kaia chain DEX TVLs or these protocols in their visible trending or top protocol data sets.
Capybara Exchange, launched in June 2022, has seen significant growth in the past month. The exchange's total value locked (TVL) has increased by over 750%, reaching a record $7.5 million on October 8, 2022. Capybara itself reports over $9 million of liquidity, and the exchange's daily trading volume reached a new record of over $2 million on October 6, 2022.
The largest pool on Capybara consists of stKAIA, a liquid staking token (LST) representing KAIA staked through Lair Finance - the largest liquid staking protocol on Kaia. stKAIA deposits exploded from zero to over $4 million in less than two weeks, driving Capybara's TVL growth.
Capybara supports various assets, including Wrapped Ethereum (WETH), USDT, and USDC, among others. The exchange also offers a launchpad, a derivatives trading platform for perpetuals, and a raffle game, in addition to its token swap feature.
It is worth noting that Kaia is a decentralised network that resulted from the merger of the Klaytn and Finschia chains. The former KLAY and FNSA tokens are currently migrating to KAIA. With Kaia's mainnet having been live for less than two months, Capybara has been the best monthly performer on the Kaia chain, which has over 40 dapps listed on DefiLlama.
While there is no direct comparative data available for Capybara, KlaySwap, and DragonSwap on the Kaia chain, if Capybara's growth pace continues, it could surpass both KlaySwap and DragonSwap, both of which have about $10 million in TVL.
For the latest numbers, checking DefiLlama or the official protocol dashboards of Capybara, KlaySwap, and DragonSwap directly would be necessary. It is advised to keep a close eye on these platforms for emerging data as Kaia chain continues to develop its DeFi ecosystem.
- Amidst the rising prominence of Capybara Exchange on the Kaia chain, there is no current data available for comparative analysis with other DeFi protocols like KlaySwap and DragonSwap.
- Despite Capybara Exchange's impressive monthly growth and new records in TVL and daily trading volume, DefiLlama, a leading authority on DeFi TVL aggregation, does not yet list Kaia chain DEX TVLs or these protocols in its top or trending data sets.
- If Capybara Exchange's growth continues at its current pace, it could potentially surpass both KlaySwap and DragonSwap, the latter of which have TVLs of approximately $10 million each.
