Author: OurNetwork
Compiled by: TechFlow
DeFi Ecosystem
Solana、BNB Chain、Avalanche
Artemis | Dashboard
TVL has grown 50% since the beginning of 2024; DEX trading volume has surged 3.6x
Since the beginning of 2024, DeFi has enjoyed a resurgence, with TVL increasing from $56 billion to $85 billion, an increase of more than 50%. Areas such as trading, lending, and liquid staking have seen significant growth, while re-hypothecation has opened up new use cases for idle crypto assets. Despite recent flat growth, many upcoming Bitcoin second-layer solutions may unlock new DeFi use cases.
DeFiLlama
With the emergence of Base, a second-layer solution developed by Coinbase, DEX transactions have experienced explosive growth, and many new addresses have begun to join Solana. The weekly transaction volume of the top five chains has increased from about $20 billion at the beginning of this year to more than $40 billion today.
Artemis
Restaking has also made an important contribution to the resurgence of DeFi. Currently, over 3.7 million ETH is locked in restaking protocols, and platforms such as Pendle have driven more usage. As more AVS (Automated Value Services) emerge in 2024, the restaking landscape will continue to evolve.
Artemis
1. DeFi on Solana
Nitin Shukla | Website | Dashboard
Nearing New Highs: Solana DEX Volume Nears $430 Billion Since January 2024
Since January 2024, DEX trading volume in the Solana ecosystem has exceeded $430 billion. In recent months, the average monthly trading volume has been between $60 billion and $80 billion, with more than 34.5 million active wallets. Jupiter Exchange accounts for 52.8% of the total trading volume, with a trading volume of approximately $228 billion. In addition, the existence of trading platforms such as Orca, Raydium, Lifinity, and Meteora demonstrates the continued innovation in the DEX field.
topledger.xyz
Since January 2023, the NFT secondary market on Solana has experienced significant growth, with trading volume exceeding 41.3 million SOL, equivalent to approximately $2.25 billion. The market maintained strong activity, with 800,000 unique wallets receiving a total of 17.3 million NFTs.
topledger.xyz
Since August 2021, 530,000 unique wallets have completed 12.6 million staking transactions across various LST protocols within the Solana ecosystem. These protocols currently collectively manage more than 24 million SOL in staked assets. Among them, Jito accounts for 50% of the total staked SOL.
topledger.xyz
Transaction-level analysis: Solana’s Token-2022 program has processed more than 18 million transactions, creating 685,000 tokens, including 90,000 fungible tokens. As an upgrade to Solana’s original token framework, it supports minting, burning, transferring fees, and interest-bearing tokens.
2. DeFi on BNB
Jimmy Zhao | Website
According to BNB Chain’s 2024 Vision, one of its main goals is to provide one of the most robust and active ecosystems for DeFi developers.
BNB Smart Chain (BSC) has a TVL of approximately $6.2 billion, ranking third among Layer 1s, behind Ethereum and Tron. Within BSC, Venus and PancakeSwap lead with a total TVL of approximately $3.5 billion.
Internal Dashboard
In addition to BSC, the BNB Chain ecosystem also has a second-layer network called opBNB, which currently has a TVL of about $27 million. The most influential protocol on opBNB is KiloEx, a peer-to-pool perpetual DEX that offers high leverage options. KiloEx currently accounts for nearly 64% of opBNB's TVL.
Internal Dashboard
BSC has a scalable ecosystem and an active user base. With nearly 1 million daily active users and the lowest gas fee among all layers at less than $0.03, BSC is extremely attractive to developers. Its EVM compatibility, fast finality, and on-chain governance further enhance its strength as a DeFi platform.
BscScan
Transaction Level Analysis: BSC has been stress-tested in real-time to demonstrate its true scalability. On December 7, 2023, BSC set a new record, processing 32 million transactions. Despite the surge in transactions, BSC's gas price remained at 3.7 Gwei, close to its 3 Gwei average (it has since dropped to 1 Gwei), and transaction fees remained at the standard $0.03, thanks to its 140 million gas capacity per block. This transaction took place during the peak period, and you can see that the transaction fee is still the standard $0.03.
3. DeFi on Avalanche
cloudr3n | Website | Dashboard
Over $6 million in AVAX and COQ rewards given to active and loyal users on Avalanche
Avalanche is a layer 1 blockchain that provides high throughput and a customizable virtual machine. In a community airdrop, the Avalanche Foundation airdropped over $3.9 million in AVAX and $2.1 million in COQ memecoins to 8,300 users. These users participated in the Memecoin Rush program and Diamond Hands, depositing funds into the Trader Joe's Memecoin Rush vault. The vault reached a peak TVL of $125 million in a week involving 10 Avalanche community coins and over 12,000 depositors.
Flipside - @cloudr3n
Avalanche's TVL fell 43% from a peak of $1.9 billion in March 2024 to $1.1 billion in August. The liquid staking space saw the largest decline, losing $100 million, primarily due to the AVAX price drop. DEX exchanges saw significant growth, exceeding $17 million, of which exchange Pharaoh contributed $10 million. DeltaPrime, a multi-purpose agreement, adds up to $12 million.
Flipside - @cloudr3n
The Avalanche Foundation launched an incentive program called BOOST in July to support its DeFi ecosystem. There are signs that BOOST is working - since the start of the program, Pharaoh's TVL has increased 3x to over $13 million, while DeltaPrime's savings deposits and borrowings are close to $32 million and $17 million, respectively, a nearly 3x increase.
Flipside - @cloudr3n
Transaction level analysis: This address received the highest LB incentive, worth 43 AVAX!
This user used $120k in two pools (ggAVAX-AVAX and GGP-AVAX) with a liquidity shape of just 1 bin! Imagine the impermanent loss and the time it takes to add, rebalance and remove the same position.
