DeFi TVL Stabilizes Around $280M

Total Value Locked (TVL) serves as a key barometer for the health of DeFi protocols, indicating the total value of assets users have staked or locked in smart contracts. A higher TVL generally reflects greater user trust and confidence in a platform's security and utility. The broader DeFi market has seen a significant recovery, with total TVL across all chains climbing to $129 billion by early 2025, a 137% year-over-year increase and the highest level seen since May 2022. This surge followed a period of struggle through 2022 and 2023, fueled by rising crypto prices that attracted more assets and users into decentralized platforms. The Mantle Index Four (MI4) Fund is a relatively new, institutional-grade product launched in April 2025 to bridge traditional finance with DeFi. It gained significant traction with an anchor investment of up to $400 million committed by the Mantle Treasury, aiming to provide diversified crypto exposure with native yield generation. Reserve Protocol is currently navigating a major tokenomics shift, with a community proposal to burn approximately 30% of the total RSR token supply. This proposal, alongside a plan to adopt a new "veRSR" governance model inspired by Curve Finance, aims to counter inflation and encourage long-term holding. Decibel's value on Aptos follows its recent mainnet launch as a fully on-chain exchange combining spot, perpetuals, and margin trading. The protocol aims to unify a fragmented trading landscape on the high-speed Aptos blockchain and plans to introduce its own stablecoin, usDCBL, to retain value within its ecosystem. Activity on Aave is bolstered by recent governance decisions, including the narrow approval of a major revenue model overhaul that will direct 100% of revenue from Aave Labs' products to the Aave DAO. This comes as the protocol prepares for its V4 upgrade and recently surpassed $1 trillion in cumulative lending volume. Uniswap, a decentralized exchange