Oasis Network First DEX TVL reaches $ 100 million in 24 hours

YuzuSwap, the first trading platform on the Oasis network, has launched quickly since its launch on January 11, highlighting the growing demand for financial management processes.

In the first 24 hours of operation, YuzuSwap's total fixed cost (TVL) reached $ 100 million, the exchange said on Wednesday. In 24 hours, the packaging industry reached $ 323 million. In DeFi, TVL represents the total value of assets affected by a decentralized process.

YuzuSwap is designed using Emerald through the Oasis Network, a smart contract environment that has been completed with the Ethereum virtual machine. DEX uses an automated automated token exchange (P2P) business designed to provide users with low-cost token exchanges in the Ethereum and Oasis ecosystems, as well as tokens and non-token transactions through six other blockchains on the switch. of Oasis network.

On the same day YuzuSwap launched, Binance Labs, the venture capital arm of the Binance cryptocurrency exchange, announced that it had invested in the $ 200 million developer of Oasis Network. Recovering from venture capital firms Hashed, Jump Capital and Dragonfly Capital, the Oasis Ecosystem Fund targets seed projects developed in the Oasis network.

The good news is that ROSE is on the rise, a key feature of the Oasis network. ROSE is up 14.2% in the past 24 hours, and last traded above $ 0.49. The coin has risen 43% in the past two weeks and 67% in the past month, according to data from Cointelegraph Markets Pro and TradingView.

Decentralized exchanges dominate the DeFi site in terms of total costs. According to industry data provided by DeFi Llama, at the time of writing, 14 DEXs have reached at least $ 1 billion on TVL.

TVL reports on DeFi's explosive growth over the past 12 months. Source: DeFi Lama

On Wednesday, TVL's total across all DeFi sites rose 5.5% to $ 239.6 billion. The value of the property reached almost $ 260 billion in December.