Resolv, a decentralized stablecoin protocol, has achieved a new milestone with its total value locked (TVL) reaching $77 million, according to DefiLlama. This marks a 380% increase since early November, positioning Resolv as a top-performing DeFi protocol on Ethereum.

The protocol's stablecoin, USR, is pegged to the US dollar and backed by Ethereum, utilizing Ethena’s delta-neutral design for price stability. The Resolv Liquidity Pool (RLP) offers APYs between 15% and 70%, with its TVL hitting $36 million, a 56% rise since December began.

Resolv's growth has propelled it to the sixth-largest position in the Basis Trading category.