Synthetix$SNX , a decentralized liquidity provision protocol, leads in decentralized finance (DeFi) projects by development activity, surpassing well-known ecosystems in the industry. Meanwhile, SNX, the protocol's native token, has grown nearly 70% over the last 30 days.

According to a report from X (formerly Twitter) by the blockchain analysis platform Santiment, the DeepBook (DEEP) protocol on Sui Network — a high-performance DEX with low latency — follows Synthetix, while the Radix (XRD) smart contract platform ranks third. Injective ($INJ ) and dYdX ($DYDX ) occupy the fourth and fifth positions, respectively.