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While DeFi Total Value Locked Fell by 51% Since the End of Q1, Arrakis Finance Amassed $1 Billion TVL

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PRESS RELEASE. Zug, June 8, 2022 – As markets continue to fall, Arrakis Finance, a still relatively unknown no-token project, has just hit a new milestone with a total value locked at $1 billion.

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DeFi TVL overall fell from $224 billion on April 1 to $109 billion on May 30, down 51%. While almost all major DeFi projects and platforms suffered losses in TVL, Arrakis Finance has amassed $1 billion in TVL and is on its way to capturing 1% of total DeFi TVL, surpassing leading DeFi projects like dYdX and Aave V3.

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Arrakis, created by members of the Gelato Network infrastructure protocol team, is a web3 liquidity layer that at its core acts as a decentralized marketplace creation platform, allowing projects to create deep liquidity for their tokens. Arrakis vaults manage liquidity on behalf of LPs on concentrated AMMs such as Uniswap v3 in a capital efficient and fully offline manner.

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These next generation AMMs are more like traditional order book exchanges than legacy AMMs like Uniswap v2. This is why Arrakis has become a necessary layer of abstraction where market makers can help LPs manage their liquidity effectively.

Arrakis is up 88% in the last month, all without internal incentives for liquidity mining. Arrakis currently manages liquidity exclusively on Uniswap v3 where it accounts for around 16% of total TVL. Projects already using Arrakis vault for liquidity management include Polygon, MakerDAO, Aave, Olympus, Synthetix, and many more.

Arrakis’ long-term goal is to address the industry-wide problem of liquidity fragmentation in web3 by creating a single layer of liquidity that creates deep liquidity for token projects across all web3 protocols.

Quotes from Arrakis:

“Arrakis aims to become the web3 liquidity layer by creating a common platform where market makers and projects can collaborate to create highly liquid markets for their tokens. Projects will no longer have to deal with the complexities of the underlying AMMs and their liquidity will be channeled to the DEX and the underlying blockchain where it is most capital efficient.— Ari Rodriguez, co-founder of Arrakis Finance.

$SPICE will be Arrakis’ own governance token, acting similarly to the CRV token in the Curve ecosystem. Currently $30 million of SPICE (3% of total supply) will be distributed between ice cream chain ($GEL), which incubated the project last year, if holders lock up their $GEL for three months.

Until June 10, 15:00 GMT, $GEL token holders can lock your $GELs to receive a $SPICE Airdrop on the official Gelato management portal:

About Arrakis Finance:

Arrakis is a web3 liquidity layer that at its core acts as a decentralized marketplace creation platform, allowing projects to create deep liquidity for their tokens.

To find out more visit https://www.arrakis.financeand follow Arrakis on Twitter:

Media contacts:

Name: Ari Rodriguez

Email: [email protected]

This is a press release. Readers should exercise due diligence before taking any action related to the advertised company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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