Defi project VaultCraft experiences astronomical growth, skyrocketing an impressive 5,600% to reach a TVL of $100 million, leading DeFi performance for this week.
In the dynamic world of Decentralised Finance (DeFi), VaultCraft has been making waves with its unique offerings and impressive growth. Despite the platform's active participation in staking, farming, and curated yield farming strategies, the exact details of its total value locked (TVL) remain somewhat elusive.
The largest vault in VaultCraft, the NBTC Vault, has yet to disclose its annual percentage yield (APR). However, the second-largest vault, WETH on Optimism, pays an APY of 1.6%. VaultCraft's multi-chain infrastructure is focused on Ethereum, Polygon, Arbitrum, Optimism, and BNB Smart Chain (BSC), providing a diverse range of options for users.
Recent growth for VaultCraft has been significant, with the platform's TVL gaining over 5,600% in the past seven days. This surge was driven by a deposit of 1,000 BTC from VaultCraft's institutional partner Matrixport, which led to a peak TVL of $107 million on December 17. However, the TVL dropped significantly in September, declining from a peak of over $22 million.
Ethereum-based NBTC accounts for the lion's share of the platform's TVL, with NexusBTC (NBTC), a wrapped Bitcoin version from Matrixport, being the largest token by TVL in VaultCraft, accounting for nearly 93% of the platform's liquidity.
Despite the impressive growth, VaultCraft's TVL is not explicitly detailed in the provided data, and direct references to institutional partnerships or quantitative TVL metrics are scarce. The closest related data are on other DeFi projects like Cicada Finance, which focus on real-world asset tokenization and sustainable yield but are distinct from VaultCraft.
VaultCraft's flagship products are smart vaults, offering automated DeFi yield and charging zero deposit and withdrawal fees. The protocol's TVL dropped to a low of less than $1.7 million on December 16, the lowest level since January of this year, but has since recovered to its current level of $100.6 million.
In summary, VaultCraft is a growing player in the DeFi market, with impressive TVL growth and high yields. While details on its TVL, growth, and institutional partnerships are limited, the platform's unique offerings and strong performance make it a compelling choice for users seeking automated DeFi yield.
- In the world of DeFi, VaultCraft offers one of the best investment opportunities, with impressive growth and high yields.
- The best news for technology enthusiasts in the finance sector is the significant growth of VaultCraft, a platform focused on DeFi, which has seen its TVL surge by over 5,600% in just seven days.
