Which DeFi protocols have the highest TVL?

Question

Accepted Answer

Here are the highest-TVL DeFi protocols from live DefiLlama data (figures per DefiLlama, USD):

Lending protocols (the biggest TVL category in DeFi):

Protocol	TVL	24h fees	24h revenue
Aave V3	$17.44B	$1.10M	$143K
Morpho Blue	$9.46B	$605K	$0
SparkLend	$4.63B	$169K	$14K
Maple	$2.94B	$360K	$60K
Kamino Lend	$1.24B	$192K	$26K
Fluid Lending	$748M	$116K	$14K

DEXs (largest spot venues by TVL):

Protocol	TVL	24h fees	24h revenue	24h volume
Uniswap V3	$1.48B	$1.95M	$439K	$1.20B
Uniswap V4	$951M	$2.23M	$0	$1.56B
PumpSwap	$361M	$4.66M	$932K	$1.46B
PancakeSwap V3	$316M	$335K	$108K	$694M
Orca	$265M	$276K	$36K	$365M
Aerodrome Slipstream	$131M	$320K	$196K	$549M

Key takeaways:

Aave V3 is the single largest protocol here at ~$17.4B TVL, and by extension among the biggest in all of DeFi — multi-chain lending, deployed across Ethereum, Base, Arbitrum, Polygon and more.
Morpho Blue ($9.5B) is second — a permissionless lending primitive, notable for routing most usage through third-party "meta-morpho" vaults.
World Liberty Financial appeared in the lending set but returned no TVL figure — it earns fees ($351K/day) but doesn't hold a pool TVL in the same way.
Note the ranking source is DefiLlama; I pulled the two categories where the largest TVL actually sits (lending and DEXs). TVL alone understates activity — e.g. PumpSwap carries far less TVL than Aave yet generates 4× its daily fee revenue from high meme-coin turnover.

The DEX category is sorted by 24h volume and lending by fee revenue, so the table above re-orders purely by the TVL figure you asked about. Links if you want to look closer: Aave, Morpho, SparkLend, Uniswap, PancakeSwap, Aerodrome.