ConcreteXYZ hits $1B TVL

Concrete crossed $1 billion in total value locked this week, putting the on-chain yield protocol into DeFi’s billion-dollar tier. (defillama.com) DefiLlama’s protocol page showed Concrete at about $1.00 billion in TVL on April 28, 2026, and tagged the project as an “onchain capital allocator.” (defillama.com) Concrete says it builds “institutional-grade yield products” for digital assets, while its docs describe vaults that route deposits into strategies across lending venues. (concrete.xyz) (docs.concrete.xyz) In decentralized finance, total value locked is the dollar value of crypto sitting inside a protocol’s smart contracts. A $1 billion figure means Concrete now controls a visible slice of the sector’s roughly $84 billion base. (defillama.com 1) (defillama.com 2) Concrete’s docs say its Earn product lets users deposit assets into vaults, while Concrete V2 lets curators deploy vaults permissionlessly with strategy and fee infrastructure around them. (docs.concrete.xyz 1) (docs.concrete.xyz 2) The company’s website says the protocol is built for transparent, risk-managed performance, and its docs say activity is recorded on-chain for depositors and vault operators to track. (concrete.xyz) (docs.concrete.xyz) DefiLlama’s income statement also shows Concrete generating protocol revenue, with $1.04 million in gross protocol revenue in the first quarter of 2026 and $389,110 so far in the second quarter. (defillama.com) Concrete has been widening distribution as it grows. Last week, the protocol said its vaults went live inside Binance Wallet, giving users direct access to USDT yield strategies from the wallet interface. (concrete.xyz) The test now is whether Concrete can hold that $1 billion mark without short-term incentives pulling capital back out. For now, the protocol has reached a size that puts it on the map for allocators, wallets, and rival vault builders. (defillama.com) (concrete.xyz)