Share this article
DeFi Protocol Thena's Total Value Locked Surged to $90M in Its First Week
The BNB Chain-based DeFi protocol offers 9.93% yields for traders that stake stablecoins.
Updated Jan 18, 2023, 3:48 p.m. Published Jan 18, 2023, 10:09 a.m.
Thena, a liquidity layer and decentralized exchange (DEX) on the BNB Chain, has experienced a massive uptick in total value locked (TVL) to $90 million from $5 million since its launch last week.
The protocol offers yields of up to 9.93% for liquidity providers that stake stablecoins, while yields of 222.86% are available to those who stake the platform's native token, THE.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
At the time of writing, THE was trading at close to US3 cents with a circulating market cap of just $4.2 million, according to data on blockchain analytics platform Dune.
The token draws inspiration from Curve's vote-escrow model as well as Olympus' anti-dilution mechanism. Holders control 100% of Thena’s emissions and benefit from weekly rebases.
The decentralized finance (DeFi) sector has benefitted from the recent recovery in major crypto assets like bitcoin and ethereum. TVL across DeFi has increased from $38.75 billion to $45.46 billion since the turn of the year as capital sidelined during the bear market begins to resurface.
Thena also issued an airdrop for early investors that minted a non-fungible token.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
