{"id":172449,"date":"2024-10-01T16:43:53","date_gmt":"2024-10-01T16:43:53","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=172449"},"modified":"2024-10-01T16:43:55","modified_gmt":"2024-10-01T16:43:55","slug":"six-solana-defi-protocols-tvl-surpasses-1b-after-years-of-decline","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/six-solana-defi-protocols-tvl-surpasses-1b-after-years-of-decline\/","title":{"rendered":"Six Solana DeFi Protocols TVL Surpasses $1B After Years of Decline"},"content":{"rendered":"<p style=\"text-align: justify\">TL;DR<\/p>\n<ul>\n<li style=\"text-align: justify\">Six DeFi protocols on Solana <strong>have surpassed $1 billion in TVL<\/strong>, marking the first time this milestone has been reached since November 2021.<\/li>\n<li style=\"text-align: justify\">The total TVL of Solana rises to <strong>$5.50 billion<\/strong>, recovering after the <strong>collapse of FTX<\/strong> in 2022, which drastically affected the platform.<\/li>\n<li style=\"text-align: justify\">The protocols in question are: <strong>Jito, Kamino Finance, Raydium, Jupiter, Marinade Finance, and Sanctum<\/strong>.<br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\">The <a href=\"https:\/\/crypto-economy.com\/solana\/\" target=\"_blank\" rel=\"noopener\"><strong>Solana<\/strong> <\/a>DeFi ecosystem has achieved a remarkable recovery, <strong>as six protocols have <a href=\"https:\/\/defillama.com\/chain\/Solana\" target=\"_blank\" rel=\"noopener\">surpassed<\/a> the $1 billion mark in Total Value Locked (TVL),<\/strong> a feat not seen since November 2021.<!--more--><\/p>\n<p style=\"text-align: justify\">This resurgence occurs after a <strong>significant decline in 2022<\/strong> when the <strong>collapse of FTX<\/strong> drastically affected the platform&#8217;s TVL. Currently, the total TVL of Solana has reached <strong>$5.50 billion<\/strong>, a level not seen since January 2022.<\/p>\n<h2>The Renaissance of Solana&#8217;s Protocols<\/h2>\n<p style=\"text-align: justify\">Among the protocols leading this surge is <strong>Jito<\/strong>, the top <strong>liquid <a href=\"https:\/\/crypto-economy.com\/ethereum-staking\/\" target=\"_blank\" rel=\"noopener\">staking<\/a> protocol<\/strong> on Solana, which has seen its TVL increase to <strong>$2 billion<\/strong>, a significant advancement from $4.4 million in 2022. Jito has diversified its services by <strong>including the option for restaking<\/strong>, further boosting its popularity and the confidence in the SOL network.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-172452\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/solana-defillama-post.jpg\" alt=\"solana defillama post\" width=\"825\" height=\"464\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/solana-defillama-post.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/solana-defillama-post-300x169.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/solana-defillama-post-768x432.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify\"><strong>Kamino Finance<\/strong>, the largest <strong>lending market<\/strong> on the blockchain, has also experienced exponential growth, reaching a TVL of <strong>$1.61 billion<\/strong>, following an impressive increase of <strong>44,900%<\/strong> since the beginning of 2023.<\/p>\n<p style=\"text-align: justify\"><strong>Raydium<\/strong>, the most recognized decentralized exchange, has recovered from a sharp decline to reach a TVL of <strong>$1.28 billion<\/strong>, thanks to <strong>new initiatives<\/strong> that have revitalized its trading volume.<\/p>\n<p style=\"text-align: justify\"><strong>Jupiter<\/strong>, the popular <strong>DeFi aggregator<\/strong>, maintains its position with a TVL of <strong>$1.26 billion<\/strong>, supported by its <strong>Liquidity Provider Pool<\/strong>, which attracts investors interested in various assets.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-172453\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/sol.jpg\" alt=\"solana post\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/sol.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/sol-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/sol-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<h3 style=\"text-align: justify\">A Network with the Ability to Renew and Evolve<\/h3>\n<p style=\"text-align: justify\">On the other hand, <strong>Marinade Finance<\/strong>, although surpassed by new competitors, remains relevant in the market with a TVL of <strong>$1.23 billion<\/strong>, demonstrating its resilience in the industry and its ability to continue growing and adding users.<\/p>\n<p style=\"text-align: justify\">Finally, <strong>Sanctum<\/strong>, an innovative <strong>liquid staking token provider<\/strong>, has once again reached a TVL of<strong> $1 billion<\/strong>, thanks to its technology that allows validators to <strong>launch their own tokens<\/strong>.<\/p>\n<p style=\"text-align: justify\">The recovery process achieved by Solana&#8217;s DeFi protocols highlights <strong>the network&#8217;s ability to renew itself and attract capital<\/strong>, indicating a promising future for the ecosystem as it moves towards more sustainable and scalable solutions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Six DeFi protocols on Solana have surpassed $1 billion in TVL, marking the first time this milestone has been reached since November 2021. The total TVL of Solana rises to $5.50 billion, recovering after the collapse of FTX in 2022, which drastically affected the platform. The protocols in question are: Jito, Kamino Finance, Raydium, &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Six Solana DeFi Protocols TVL Surpasses $1B After Years of Decline\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/six-solana-defi-protocols-tvl-surpasses-1b-after-years-of-decline\/#more-172449\" aria-label=\"More on Six Solana DeFi Protocols TVL Surpasses $1B After Years of Decline\">Read more<\/a><\/p>\n","protected":false},"author":34,"featured_media":172451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[114,70,74],"tags":[4620,4656,5287,5348],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172449"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=172449"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172449\/revisions"}],"predecessor-version":[{"id":172454,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172449\/revisions\/172454"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/172451"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=172449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=172449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=172449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}