The decentralized finance (DeFi) world is experiencing a renaissance! This week's Finance Redefined dives into two major headlines: Ethereum's staking innovations and Solana's battle against network congestion.

Ethereum's Liquid Staking Springboard

The first quarter of 2024 witnessed a remarkable surge in DeFi. Thanks to advancements in Ethereum's liquid staking protocols like Lido and EigenLayer, the total value locked (TVL) in DeFi skyrocketed to a staggering $100 billion! This represents a near doubling compared to the previous quarter, showcasing the power of these new staking mechanisms.

Solana Hits the Brakes (Then Accelerates Again)

Solana, a popular blockchain platform, faced a recent hurdle – network congestion. This slowdown was attributed to high demand for block space and increased activity. However, the Solana developers responded swiftly, deploying a patch (v1.17.31) on April 15th. This update aims to alleviate congestion and pave the way for further optimizations in the upcoming v1.18 release. With these improvements, Solana is poised to regain its smooth operation.

Other DeFi News in the Fast Lane

Homium Raises $10 Million: Built on Avalanche, Homium, a home equity line of credit (HELOC) tokenization protocol, secured $10 million in funding to offer homeowners innovative loan options.

DeFi Investigator Unmasks Scammers: Blockchain sleuth ZachXBT exposed a group suspected of orchestrating multiple DeFi rug pulls, targeting Leaper Finance, the latest victim.

DeFi Market Takes a Breather

While the overall DeFi landscape buzzes with activity, the top 100 DeFi tokens by market cap experienced a slightly bearish week. Most tokens dipped slightly on the weekly charts, with the total value locked in DeFi protocols dipping below $90 billion.

Stay Tuned!

Join us next week for another exciting installment of Finance Redefined, where we'll explore the ever-evolving world of DeFi and keep you informed of the latest developments, insights, and educational resources.