Wondering what the next frontiers for DeFi are?
Our new #Binance report covers emerging trends in DeFi markets, from new types of derivatives and yield paradigms to modular lending designs, prediction markets, and more.
Read the full report here.
Highlights:
2024 has seen a substantial influx of capital into DeFi, driving the total value locked (“TVL”) up 75.1% year-to-date (“YTD”) to US$94.9B, from US$54.2B at the year's start. This boost has benefited nearly every DeFi sector, across both major and niche markets, leading to the emergence of differentiated markets that are making previously inaccessible financial primitives available on-chain.After a 148.6% increase to US$9.1B this year, Yield is now the 8th largest DeFi market by TVL. Leading the push to bring interest rate derivatives on-chain, Pendle has seen a remarkable 1962% growth YTD to US$4.8B, benefitting from the rise of yield-bearing assets and increased rate volatility spurred by liquid restaking and speculative point systems.The circulating market cap of stablecoins has reached US$161.1B this year, the highest in nearly two years. Capitalizing on a market gap for a more capital efficient yield-bearing stablecoin, Ethena has surged 2730.4% to a US$2.4B market cap, becoming the 5th largest stablecoin. Its unique delta-neutral strategy, combining staked ETH and perpetual futures funding rates, has provided a distinct advantage.Money markets have grown this year, with on-chain TVL up 47.2% to US$32.7B. The demand for more flexible lending products, such as those that can incorporate long-tail assets as collateral, has fueled interest in modular lending. Morpho has responded with Morpho Blue and MetaMorpho, which combine the simplicity and pooled liquidity of traditional lending with the efficiency and flexibility of isolated markets, attracting billions in deposits in just a few months.Prediction markets reached a new peak this cycle, with TVL hitting a record US$55.1M after a 57.7% rise YTD. Historically thriving on political events, and with U.S. elections in sight, Polymarket has seen a significant resurgence, with average monthly volumes soaring from US$6.1M in 2023 to US$42.0M in 2024.The market upswing has revitalized on-chain derivatives activity, propelling average daily volumes from US$1.8B last year to US$5.4B this year. Hyperliquid has capitalized on this trend to increase its market share to 18.9%, making it the second largest by trading volume, trailing only dYdX. Its edge stems from being a high-performance, fully on-chain perps DEX on its own L1, providing CEX-like experiences and unique products like pre-market offerings and exotic pairs.
Read the full report here.

In appreciation of our creators’ contributions to Binance Square, we are thrilled to introduce our brand-new Tiered Rewards Promotion for all Binance Square Creators!  
✍️Eligibility
To qualify, you must:
Complete account verification.Set up a profile on Binance Square (i.e., avatar, nickname).Regular organic posts and engagements on Binance Square in the past 30 days.Adherence to Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.
*Binance Square reserves the right to review and possibly revoke eligibility based on violation records, if any.

💰Rewards Structure
The rewards you unlock on Binance Square rise with your follower count on Binance Square, as detailed in the table below. 
List of Requirements & Benefits:

Note: 
Creators will receive a total of 3 USDT spot trading fee rebate vouchers, valued at $100, $500, and $1,000. These are granted as they hit follower counts of 10,000, 30,000, and 100,000 on Binance Square, respectively.

🌟Reward Evaluation & Distribution
Reward eligibility is evaluated monthly (in the first week of the following month), the turnaround time might vary depending on the amount of eligibility. Creators who hit 1,000 or more followers and meet all criteria will earn related benefits in the following month. We'll notify eligible creators via a Square Assistant push.
Rewards distribution:
Binance Square team will adjust spot referral commission to 41% for qualified creators within 15 working days after the end of each calendar month.Access to Tipping, Binance Live, and Verification Checkmark will be granted within 15 working days after the end of each calendar month.USDT Spot trading fee rebate voucherVouchers are issued to eligible creators within 15  working days after the end of each calendar month. After issuance, redeem them within 7 days at the  [[Reward Center](https://www.binance.com/en/my/coupon)]. All the Trading Fee Rebate Vouchers are valid for 14 days once activated. For voucher usage, refer to the Trading Fee Rebate Voucher Terms.Dedicated account managers' contact information will be sent to eligible creators via a Square Assistant push within 15  working days after the end of each calendar month.  Additional commission rewards for the previous Write to Earn campaign will be settled within 15 working days post-campaign in FDUSD token vouchers. The vouchers will expire 14 days after distribution. Eligible users should claim their voucher rewards before the expiration date. Commission rewards for the ongoing Write to Earn promotion shall follow this rule.More information on the remaining benefits (e.g., priority consideration for paid projects and collaborations, Holiday Binance merchandise etc.) will be shared to creators via a Square Assistant push.

Terms & Conditions:
This promotion may not be available in your region. Only accounts that publish content organically on Binance Square will count as qualified creators. Binance reserves the right to cancel a user’s eligibility in this promotion if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.Creators must have no violations and are required to create at least one post per week to maintain eligibility. Binance Square reserves the right to review and possibly revoke eligibility if a creator fails to meet the requirement or has violation records, if any.