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Ripple's EVM-compatible sidechains are online, but TVL and volume remain low.
[Coin World] Ripple announced that its long-awaited Ethereum Virtual Machine (EVM) compatible sidechain XRP Ledger went live on June 30. Although Ripple claims that after years of construction and testing, this Mainnet will usher in "a new era of cross-chain DeFi", the current total value locked (TVL) on the network is less than $100,000, with only four protocols worth following. Among them, the most popular application processed less than $1,100 in transactions over the past week. As of yesterday, the decentralized exchange Moai Finance, which is "strategically positioned" on the network, had a trading volume of only $26 in the past 24 hours.