BNB chain is now again established as a leader in decentralized financing, and the most recent figures indicate a total value (TVL) of $ 9.87 billion. The expansion indicates how the chain can draw a wide spectrum of Defi apps, consisting of decentralized exchanges, lending protocols, yield applications and physical assets tokenization.
Top 10 #tvl on #bnbchain
$ Cake $ xvs $ lista $ solv #desyn $ pendle $ aster $ aave $ avl $ cow pic.twitter.com/alxivwbukz– Phoenix – Crypto News & Analytics (@PNXGRP) September 19, 2025
The ecosystem is not only powerful in terms of pure value, but also the diversification of projects that bloom the ecosystem.
Cake, XVS and Lista Lead with billions of value
Three leading projects in BNB chain occupy about three-quarters of the locked value, which reflects the capital concentration in the old platforms. Cake, the most popular decentralized exchange (DEX) in the ecosystem, has the highest share of 25.37 with a TVL for an amount of $ 2.18 billion. Secondly, XVS (Venus Protocol), a credit platform that has locked an amount of 2.03 billion, that represents $ 23.62.
Lista, which makes the third largest contribution, is a combination of loans and collateral debt positions (CDP). It includes 23.04 percent of the total ecosystem or $ 1.98 billion. Together the three giants are locked up in more than $ 6.19 billion and emphasize their dominant presence in the BNB chain -Defi activity.
SOLV and emerging platforms expand Defi -Use Cases
There are a number of platforms outside the top three who establish important bases in the Defi field. SOLV, a tokenization company that focuses on assets in the real world is valued at $ 497.14 million or 5.79% of the total value locked. This is an indicator of increased interest in Defi bridges between conventional finances and blockchain.
Even agricultural and yield platforms add wealth to the ecosystem. Farms Platform, Desyn, has raised a total of $ 373.12 million and a return -based protocol, Pendle, owns $ 370.92 milion. They form around 4.34 percent. And 4.32 percent. from BNB chain locked value or respectively.
Middle leather projects that strengthen the diversity of the ecosystem
There are several projects at the middle level, which are crucial for diversifying the Defi opportunities on the BNB chain. Another decentralized exchange, Aster, adds $ 325.64 million, which is 3.79 percent of the total TVL.
One of the best established players in the global Defi-industry, Aave has also extended the lending to the BNB chain with a value of 3.41% or $ 293.10 million. At the same time, AVL, a collateral debt position (CDP) initiative brings $ 284.16 million in the chain, which translates to 3.31%.
Such projects outline how Defi on BNB chain is not only concentrated with a limited number of giants, but is supported by a strong ecosystem in the middle.
Cow protocol adds the yield depth
Later in the top ten there is a yield -oriented site, cow, which contributes $ 258.61 million or 3.01% to the value of the chain.
Although still small compared to other leaders such as Cake of XVs, COW shows that the ecosystem is able to support specialized yield projects. Such niche markets usually act as new user points, expanding acceptance and testing new yield strategies. They grow at a speed that emphasizes the meaning of having a large player and more agile protocols of a smaller scale that encourage experiments in Defi.
The position of BNB chain in the worldwide Defi landscape
The TVL figure of $ 9.87 billion strengthens the competitive position of the BNB chain in the international Defi environment.
The chain has helped the liquidity to flow and innovate through a wide range of decentralized exchanges, loan solutions, collateral debt products and yield platforms. Capital assignment on projects shows that there is stability on the dominant players and new platforms.
Because real assets and yield maximization are becoming increasingly attractive, the BNB chain is perfectly positioned to stay a center of Defi growth in 2025 and then.
