Elevating top DeFi projects by sharing fundamental research and quality stats.
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Joined June 2021
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Top profitable revenue-generators in crypto:
Launchpads: @pumpdotfun @clankeronbase
Exchanges: @HyperliquidX
Lending: @aave
Stablecoin Issuers: @MakerDAO @ethena
Staking: @LidoFinance
Blockchains: @ethereum @trondao
Why is Ethereum the center of DeFi? Security and composability as apps build on top of protocols (that proved B$ security) which build on top of cutting-edge protocols (aggregators).
DeFi renaissance is happening now because people aren't talking about it anymore to push a narrative & price but there's new products that enable new innovation & fun experiences.
Economies & new apps are building around DEXs, Lending, Social on Ethereum, ETH L2s and Farcaster.
Subscription- , Transaction-, Ad-business models rule the world. Will tokens change it? Tokens should have equity-like characteristics and be valued according to revenues but there's additional demand/growth drivers in the form of utility that can lead to a premium
As Eth drives down costs via cheaper & faster l2 blockspace solutions, $ETH revenues on the l1 may go down but $ETH growth drivers, $ETH as money, on 100s of L2s, their DeFi & app ecos will go up.
> Study all of the growth drivers of this economy!
vitalik.eth.limo/general/202…
@Etherealize_io shows why $ETH is unlike all other cryptos
>ETH: store of value w/ cash flows
>Growing ETH Economy
>Predictably low inflation (Supply & Issuance differ bw tokens. Flexibility can be powerful but predictability adds to monetary ETH premium)
dashboard.etherealize.io/
Ethereum DeFi is going permissionless, increasing access & opportunity for everyone. Lido's dual governance, community staking module and yield-bearing stETH integration across Defi, Ethereum L1 + L2s show the way for safe DeFi (yields) growth.
Lido Community Staking Module (CSM) is now permissionless and open to everyone 🌐
• Submit your first validator key with just 2.4 ETH as a bond.
• Subsequent validators? Bond drops to 1.3 ETH.
• Early Adoption eligible participants still enjoy a discounted bond (1.5 ETH) for their first validator.
Dive in here: csm.lido.fi
Uniswap, the most efficient trading venue in crypto, is built on Ethereum: The new version V4 enables unlimited customization & a massive ecosystem around Uniswap unlike V3 which was also a breakthrough in effiency.
Aave - the liquidity backbone for DeFi: Borrow whenever you want handpicked assets in size.
Today, @aave experienced over $200 million in liquidations within just 24 hours – the largest event since August 2024.
This represents roughly 30% of all liquidations since Aave’s inception, and even more impressively,
bad debt has actually decreased.
This suggests that our DeFi ecosystem is built on a strong foundation, which includes:
-> Rigorous collateral selection and management through governance
-> Efficient protocol design for liquidations
-> Thick liquidity pools in ecosystem
Moreover, considering that Aave v3.3, v4, and the umbrella updates haven't been implemented yet, the future of DeFi looks exceptionally promising.
I express my gratitude to those who designed and managed this robust infrastructure, including @StaniKulechov, @marczeller, @eboadom, and @omeragoldberg.
Just use Aave.
DeFi will win.
Gmx seems dominant when we just look only at fees.
When we take a look at token incentives we see that Pendle is paying a lot & Gmx also has huge incentives.
Ultimately looking at earnings: Dydx is leading.
This overall trend doesn't look bad. Did you look under the hood which protocols & behaviors drive the trend?
DeFi-Reporting.com retweeted
indeed amazing that this seemingly "once-a-time one-trick pony" can keep up these numbers.
maybe they'll be able to turn it into a seasonal revenue generator such as Uniswap. Can't see it becoming a consistent revenue generator unlike aave, mkr, ldo.
What's your favorite data analytics tool? My top 5 are @DuneAnalytics @DefiLlama @tokenterminal @nansen_ai @coingecko. It's great they support so many chains now. Data up & to the right!
1/ 🌐 You always ask for more blockchains on Dune. Today we are making it happen 🤌
Introducing Dune Catalyst: Our latest enterprise solution to streamline blockchain data integrations via the Catalyst’s standardized APIs docs.dune.com/api-reference/…! 💡
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