Flare DeFi TVL Doubles to $124M as Kraken Enables USD₮0 Transfers

Flare Networks announced today that USD₮0, the omnichain stablecoin backed 1:1 by Tether’s USDT , is now supported by Kraken, coinciding with a sharp rise in the network’s decentralized finance (DeFi) total value locked (TVL). Since USD₮0 went live on Flare on April 28, the network’s DeFi TVL has more than doubled, climbing from around $64 million to over $124 million as of Monday, May 5, according to DeFiLlama data . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant