>$670M in BUSD Pools

The news that Paxos Global will stop minting BUSD stablecoins by order of the New York financial regulator will cause massive shifts in Decentralized Finance (DeFi) as users and protocols seek out alternative options.

Let’s take a look at the DeFi protocols with the largest amounts of BUSD in yield-producing pools, according to DefiLlama data. In total, DefiLlama tracks pools with more than $672 million Total Value Locked (TVL) that include BUSD either as a single token or in a pair.

1. PancakeSwap

It’s no surprise that the dominant Decentralized Exchange (DEX) on BNB Chain has the most TVL in pools that include BUSD.

In all, PancakeSwap has $334 million in BUSD pools, accounting for nearly half the total across the DeFi sector.

The largest BUSD pools on PancakeSwap are WBNB-BUSD ($165 million), USDC-BUSDC ($46 million) and BTCB-BUSD ($44 million).

2. Alpaca Finance

Alpaca Finance, the largest yield protocol on BNB Chain, comes in second on this list, with nearly $77 million in TVL in BUSD pools.

More than half of that ($39 million) is in Alpaca’s BUSD pool, the largest single stake pool for BUSD in the crypto space.

3. BiSwap

Third on our list is BiSwap, the second-largest DEX on BNB Chain, with nearly $48 million in TVL in BUSD pools.

The largest is BiSwap’s WBNB-BUSD pool ($30 million), followed by its USDT-BUST pool ($15 million).

4. Curve

Behemoth multichain stablecoin exchange Curve ranks forth for BUSD in pools, with nearly $30 million in TVL.

Curve’s largest pools are BUSD-3CRV ($14 million) and BUSD-FRAXBP ($10 million).

5. Uniswap V3

Rounding up our list is Uniswap v3, the largest DEX in the DeFi according to exchange volume. The protocol has more than $27 million in TVL in BUSD pools.

The lion’s share of that is in Uniswap’s BUSD-USDC pool ($24 million).

Notables

Other protocols with more than $10 million in BUSD pools include:

• Convex Finance: $24 million
• Ellipsis Finance: $18 million
• Venus: $17 million
• BabyDogeSwap: $16 million
• Stargate: $14 million
• JustLend: $13 million.