Amply Finance, a lending protocol on the Cronos zkEVM chain, has achieved a significant milestone with its total value locked (TVL) reaching a record $20 million on November 11. This marks a 300% increase within a few days, positioning Amply as the largest decentralized application on the newly launched layer 2 network developed with Cronos Labs.

The surge began on November 6, when deposits nearly doubled to $9.2 million following the launch of Amply's native token, AMPLY. Users can convert preAMP to AMPLY and stake rewards for three months to unlock more tokens by mid-February 2025. Amply, a fork of Aave v3, recorded $5.3 million in USD inflows on November 9.

Key tokens contributing to the TVL include vETH, ETH, VUSD, USDC, CRO, and WZKCRO. Amply's growth has also contributed to Cronos zkEVM's TVL doubling to $42 million, highlighting its competitive edge against other DeFi apps like H2 Finance. The broader DeFi sector has seen a recovery, with total TVL gaining over $20 billion recently.