Author: DeFi Warhol
Compiled by: TechFlow
While everyone is getting into the holiday spirit, I decided to use this time to do some research.
@Delphi_Digital recently released a research report (DeFi Outlook in 2025), summarizing 8 key trends and recommended projects:
1. Consumer DeFi
Although DeFi has developed rapidly in recent years, it has not yet fully realized its potential and goal - to completely replace traditional banks, provide services to ordinary users, and guide them into the Web3 world.
Crypto payment cards are revolutionizing DeFi, combining the functionality of self-custodial spending, DeFi earnings, and fiat on- and off-ramps to provide users with a more convenient financial experience.
Recommended protocols to focus on:
@coinbase
@holyheld
@gnosispay
@argentHQ
@MoonwellDeFi
@Fuse_network
2. Revenue-Sharing Stablecoins
Stablecoins are one of the areas with the greatest revenue potential in the crypto space, but currently the profits are mainly concentrated in the hands of issuers.
The core idea of revenue-sharing stablecoins is to allow the applications that distribute them (such as decentralized exchanges, centralized exchanges, wallets, etc.) to also benefit from them, creating a new model - "stablecoin distribution as a service."
This stablecoin not only has similar advantages to $USDT (such as cross-application composability and network effects), but also provides distributors with additional profit incentives to attract more application integration.
Recommended protocols to focus on:
@withAUSD
@Paxos
@m0foundation
3. Fat Wallets
The “fat wallet” theory states that as blockchain protocols and applications become more streamlined, the development space for two key resources, distribution channels and order flows, will further expand.
As the core front-end for users to interact with the blockchain, wallets can effectively convert these resources into sources of income.
Recommended protocols to focus on:
@infinex_app
@OneBalance_io
@ParticleNtwrk
@Ctrl_Wallet
4. Decentralized Exchange (DEX) Market Share
While 2024 saw significant upgrades across multiple subsectors of DeFi, decentralized exchanges (DEX) saw more limited changes.
It is expected that the trading volume of spot DEX will grow to 20-22% of the spot trading volume of centralized exchanges (CEX) in the future, demonstrating the potential of DeFi.
5. Solver-Based Protocols
DEXs that are deeply integrated with solver protocols perform better than standard AMMs (automated market makers).
Solver- and searcher-driven DeFi already accounts for a significant share of transaction volume and will continue to expand its influence in the future.
Recommended protocols to focus on:
@SorellaLabs
@CoWSwap
@Uniswap
@ArrakisFinance
@HyperliquidX
6. Prediction Market
Prediction markets performed strongly during the 2024 US election, reaching new highs in both user numbers and transaction volumes, but have failed to maintain long-term stability.
Today, these markets are transforming from traditional speculation platforms to innovative financial products and information discovery tools.
Recommended protocols to focus on:
@trylimitless
@Truemarketsorg
@Polymarket
7. Starknet ecosystem rebounds
Starknet’s trajectory is similar to Solana’s early stages. Although Solana’s technological advancement was overlooked due to negative sentiment, it eventually rebounded strongly.
Starknet faces a similar situation: its promising technology has been underestimated due to controversy, but is gradually moving towards the mainstream market.
