POPA ReconTop DeFi Protocols by TVL Launched in Q2 2026
Top DeFi Protocols by TVL Launched in Q2 2026 Saturn topped the new class at $181M TVL, a Bitcoin-backed dual token (USDat pays, sUSDat yields). But the real story is the pattern: half the list is risk curators on Morpho — Galaxy Digital, Wintermute (Armitage), Anthias, Gami. The newest DeFi money isn't chasing apps, it's institutions bringing vault curation onchain.
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