The latest analysis from Phoenix Group has highlighted the top decentralized finance (DeFi) platforms on the Cosmos blockchain, ranked by their total staked value. This metric serves as a critical indicator of user trust and engagement within the ecosystem. Since its mainnet launch in March 2019, Cosmos has established itself as a versatile blockchain, allowing various protocols to operate independently while facilitating seamless interoperability.
Leading the pack is Cronos (CRO), boasting a staggering total staked value of $1.0 billion. This remarkable achievement underscores its position as the dominant player in the Cosmos staking landscape, reflecting a high level of user confidence and significant engagement.
Following closely is Cosmos (ATOM), with a total staked value of $600 million. This positions ATOM as the second-largest staking protocol within the Cosmos ecosystem. The platform”s appeal is bolstered by an attractive annual percentage yield (APY) of 20.1%, which incentivizes users to participate in staking.
In third place is Sei (SEI), with $281 million in staked assets. Sei”s staking feature has been gaining traction among investors, providing them with opportunities to earn passive income from their holdings. Currently, Sei offers a staking reward rate of 7.4%, translating to a solid return for stakers.
Injective (INJ) ranks fourth, with $182 million staked on its platform. This figure attests to Injective”s robust market presence and its ability to attract users seeking staking options within the Cosmos network.
Fifth on the list is Celestia (TIA), which has achieved a total staked value of $142.2 million. This growth highlights the rising interest in Celestia”s offerings and the enthusiasm of users for its staking capabilities.
Other notable platforms contributing to the staking landscape on Cosmos include Artificial Superintelligence Alliance (FET), Akash Network (AKT), Lava Network (LAVA), ZetaChain (ZETA), Coreum (COREUM), Babylon (BABY), Axelar (AXL), Terra (LUNA), dYdX (DYDX), and Band (BAND). These projects underline the diverse opportunities available for investors and traders looking to capitalize on the growth potential within the Cosmos ecosystem.
In summary, as the DeFi landscape on Cosmos continues to evolve, the total staked values of these platforms signal a robust ecosystem driven by user trust and engagement.
