⚡Real World Assets Come On-Chain, Liquid Staking Summer, and More
Plus Berachain and BitDAO alpha.
The Dynamo DeFi newsletter covers the most interesting stats, trends, and tools in crypto each week.
🔢On-Chain Metrics
High Level
Total DeFi TVL (including liquid staking), increased from $64.38b to $65.35b this week. Optimism grew the most out of top chains, while Avalanche and Solana lost TVL.
The other notable change is that Pulsechain, with 1 protocol, is already in the top 10 chains by TVL.
Starknet Metrics Reach New Highs
Across multiple measurements, Starknet, an Etheruem Layer 2 ZK-rollup, has grown recently.
TVL broke $10M:
Daily Transactions broke 200K:
Real World Asset TVL Surges
Despite total TVL being flat recently, TVL in protocols that tokenize “real world assets” has been flying. Nearly all of the major RWA protocols are up, led by Ondo Finance, which tokenized US Treasuries.
📈Trends and Narratives
The Start of LSDFi Summer?
As we’ve been covering in this newsletter, liquid staking protocols are growing rapidly, surpassing DEXes to be the largest overall DeFi category.
Protocols built on top of liquid staking have now begun to pop up as well.
A few examples:
Pendle Finance lets you invest solely in liquid staking yield
Lybra Finance is a stablecoin using liquid staked ETH
unshETH is a yield booster/optimizer
Could this be the start of a boom in LSDFi?
Everything You Need to Know About Berachain
Berachain is an upcoming Cosmos Layer 1 that uses a unique Proof of Liquidity consensus.
Berachain has been on my radar personally because of the high caliber of builders they’ve attracted, their large community, and the opportunity for a Cosmos-native stablecoin.
This thread goes into detail on everything Berachain:
BitDAO Throws Weight Behind Mantle
BitDAO passed a governance proposal to consolidate their token and ecosystem around the Mantle layer 2.
This is especially notable because BitDAO has the largest treasury in crypto, including over $800M of stablecoins, ETH, and BTC.
Thread diving into the implications of this:
🛠️Tool Spotlight
Artemis Trending Contracts
This week’s tool spotlight is on the Artemis Trending Contracts dashboard. This tool is extremely useful for finding trending categories, applications, and contracts on-chain.
You can toggle to week-over-week change organized by:
Active Addresses
Transactions
Gas (USD)
📅Key Events This Week
That’s all for this week. For more frequent content, follow me on Twitter and YouTube.
Until next time,
Patrick Scott
Dynamo DeFi