Lending protocol Vesu on Starknet surpasses the $10 million Total Value Locked milestone.
Vesu, an upcoming decentralized lending protocol on Starknet, is making waves in the world of DeFi. Launched in mid-July, Vesu has quickly become the fourth-largest DeFi app on Starknet.
Starknet is an Ethereum layer 2 scaling solution that uses zero-knowledge (zk) rollups, enabling faster and cheaper transactions. Vesu's lending feature, while not yet live, aims to enable borrowing against tBTC (tokenized Bitcoin) without users losing custody, similar to how tBTC functions on Ethereum's lending platforms like Aave.
The lending feature is expected to contribute significantly to Starknet's DeFi ecosystem growth by enhancing capital efficiency and enabling Bitcoin-backed DeFi yield opportunities on Starknet without custody risk. This mirrors the success pattern seen on Ethereum DeFi protocols, suggesting Vesu could become a key driver of Starknet's expanding DeFi adoption once operational.
Currently, there is no reported TVL or real-time performance metrics for Vesu on major DeFi analytics aggregators such as DeFiLlama. This aligns with Vesu's "coming soon" status reported in early August.
Despite the lack of live data, Vesu's largest markets are Ethereum (ETH), Starknet (STRK), and USDC. In the past month alone, Vesu has gained over 90%. On August 30, Vesu saw record daily inflows with nearly $2 million worth of tokens deposited. As of the article's writing, Vesu's TVL is $10.8 million, and its largest markets are Ethereum (ETH), Starknet (STRK), and USDC.
The increase in Vesu's TVL has helped Starknet extend its recovery, with a total value of tokens deposited on Starknet-based DeFi apps at $256 million, the highest in over a month.
In summary, Vesu is poised as a promising new addition in Starknet DeFi, ready to leverage tBTC's growing relevance to fuel lending activity and overall ecosystem growth once it officially launches.
References
- Vesu Official Website
- DeFiLlama
- The best performer among the Starknet DeFi apps in the past month is Vesu, with a gain of over 90%.
- In the daily news of the finance industry, Vesu has seen record daily inflows with nearly $2 million worth of tokens deposited on August 30.
- The expanding DeFi industry on Starknet is set to receive a significant boost from Vesu, with its lending feature aiming to offer efficient capital usage and Bitcoin-backed DeFi yield opportunities without custodial risk.
