Decentralized finance (DeFi) was the talk of the town in early 2021, but it has since taken a back seat to more appealing sectors like nonfungible tokens (NFTs), memecoins and blockchain gaming. 

Now that cross-chain bridges and interoperability have allowed for the easier migration of assets to competing chains, a new class of DeFi protocols is arising to challenge those left from 2021.

Here’s a look at three DeFi projects that have launched on some of the up-and-coming layer-1 blockchain networks, catching the eye of the crypto community.

VVS Finance

VVS Finance is the largest DeFi protocol on the Cronos network, a project that emerged out of the Crypto.com ecosystem which has since been fully rebranded to Cronos (CRO).

The goal of VVS Finance is to offer instant swaps with low fees, low slippage and attractive yields for liquidity providers (LPs).

As a reward for providing liquidity, two-thirds of swap fees collected on the exchange are distributed to the LPs of the respective pools and LP tokens can also be locked in the protocol’s Crystal Farms to earn VVS rewards.

VVS holders also have the ability to single stake their tokens in the “Glitter Mines,” where they can currently auto-compound for 65.78%. Future plans include the addition of VVS rewards for those who swap tokens through the exchange.

According to data from DefiLlama, the current TVL for VVS finance is $1.35 billion, accounting for more than half of the $2.37 billion in value locked on the Chronos network.

Total value locked on VVS Finance. Source: DefiLlama

The steady rise in TVL on VVS has come as…


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