Filecoin's FVM traction accelerates as DeFi TVL soars to record

Filecoin Virtual Machine (FVM) is gaining traction among developers a few months after it was unveiled. In a statement, the developers noted that the ecosystem had seen its DeFi ecosystem and the number of smart contracts jump.

Total value locked (TVL) in Filecoin’s ecosystem is now sitting at its all-time high of 4.65 million FIL. This TVL was almost zero a few months ago. The biggest contributors to this growth are STFIL, GLIF Pools Infinity, Filet Fiance, and SFT Protocol among others.

In dollar terms, Filecoin FVM, has a TVL of almost $20 million.

Filecoin also made several integrations recently. It integrated with bridges like Axela, Celer, and more than 35 others. Like other blockchains, these integrations have been necessary for the ecosystem growth.