Methods

We already knew Total value locked (TVL) is the overall value of crypto assets deposited in a decentralized finance (DeFi) protocol.

That is, to calculate TVL per day, we must multiply the number of tokens in liquidity pool by the token daily price

Here we make changes to the above definition to eliminate the price effect.

So throughout the article, for each token we use a fixed price (average daily price on April 17 ,2022) instead of the token daily price

For example, the price of the Sushiswap token on this date is about $ 3.2. So we assume that the price of the Sushiswap token was $ 3.2 on all days of the year. And with this assumption we calculate TVL

Results

Conclusion

TVL has declined significantly in the last days of March. Most of this decrease was related to the two pools xSUSHI-DAI and WBTC/DAI respectively

The name of the token kept in each pool is written at the end of the pool name. For example, the WETH-DAI liquidity pool holds DAI tokens.

It can be seen from the last figure that DAI has always been the most popular pools asset.