**Here is a summary of the DeFi market, events, and important news that happened last week.**
**DeFi Overview**
* Total value locked (TVL) in DeFi projects: $159.04 billion (prev. $209.99 billion)
* Dune Analytics data shows that the number of decentralized finance (DeFi) users is rapidly growing and hit a new all-time high of 4,701,139 (prev. 4,652,894)
* DeFi Market Cap: $79,342,195,464 (prev. $120,354,420,547)
* DeFi Pulse Index: $118.33 (prev. $167.32)
**L2 Solution overview**
* The Total Value Locked in Ethereum Layer2 systems: $5.64 billion (prev. $6.42)
**DeFi News**
* Tron’s new algorithmic stablecoin USDD went live
* Polkadot upgrade locks in parachain messaging
* Ribbon Finance gives half its protocol revenue to stakers
* Opera browser enabled direct access to BNB Chain-based DApp ecosystem
* Moonbeam added cross-chain capabilities, introduced xcDOT
* Stablecoin exchange Kinesis is live on Evmos
**Top stablecoin pools from Defiyield**
* Beefy Finance with 45.54% APY
* LiquidDriver with 36.00% APY
* Beethoven with 35.08% APY
**Find** [**more details**]( news, events, statistics, charts, and smart DeFi ideas and news.**
Oooooooh new Algorithmic Stable Coin?
Anchor also had UST vault with 20%+ APY, where did that lead to? I’m safer listing my BUSD and USDC on the wowswap exchange with an APY of 9-11%, it’s stable and without problems in all my time of work here