The sector remained in the fight, although finally its numbers were negative. On the other hand, individual projects gave notable signs of progress, such as the case of SIU, with the new liquidity strategies of Turbos Finance.
The DeFi sector presented some interesting news this week. It is important to keep in mind that this sector is completely dependent on everything that happens with the cryptocurrency spot market, specifically Bitcoin.
Among the most important points this week in the world of DeFi, the impact they suffered with the collapse of Bitcoin stands out.
DeFi TVL Steady This Week Despite Shakedown
On Tuesday, April 30, after the price of BTC lost the 60K support, the total value locked of DeFi also plummeted. At that time, it accumulated $88 billion dollars, placing itself further and further away from $100 billion. However, the recovery allowed them to once again surpass the $90 billion barrier.
Volume is also constantly increasing and the cumulative 24-hour average is expected to remain above $4.1 billion. As far as the most powerful networks go, there were no major surprises with Ethereum, which racked up more than half of the TVL of all decentralized finance. In second place remains Tron, followed by BNB Chain and Solana.
If the BTC price manages to break above 65K, the chances of the TVL returning to $100 billion are high. In any case, the chances of that happening this week in DeFi are significant.
This Week’s Highlights
Considering the TVL statistics, it can be said that, although the sector ended the week in the red, it at least rescued some space. On the other hand, among the notable news from the DeFi world this week, the following stand out:
Turbos Finance promotes new liquidity strategies in SUI, which aim to revolutionize automated liquidity management and simplify liquidity provision.
The first strategy is a network-centric automated liquidity management vault for CLMM positions on Turbos DEX within the Sui network. The second is an innovative automatic swapping capability combined with dollar-cost averaging (DCA) strategies aimed at simplifying liquidity provision.
Liquidity providers (LPs), with these automated rebalancing vaults, can increase their returns with less effort.
Synethix founder Kain Warwick is targeting the launch of the Infinex DEX. May 13 would mark the launch of Infinex Account, which is described by the Infinex team as a “collection of cross-chain smart contracts that can be controlled, secured and recovered” via Web2 authentication, as the startup session of an email address.
Warwick noted that Infinex would use social passkeys to allow users to log in through Web2 applications – such as a Google account – and reduce the “friction” that typically accompanies a standard Web3 user experience.
Matera raises $3.6 million to boost the creator economy by merging DeFi with social media. The capital will be used to build a platform aimed at addressing the monetization challenges prevalent in the creator economy.
The funding round saw participation from several renowned companies, including Sidedoor Ventures, HighCass Crypto, Medusa Ventures, The Sandbox, and Saxon Partners. The capital raised will be instrumental in developing a platform that can effectively address the monetization issues that creators often encounter.
dWallet Network integrates with Monad, a pioneer in multi-chain DeFi. According to an official press release, dWallet Network plans to allow developers to leverage decentralized building blocks to create multi-chain DeFi applications without collusion and with high decentralization.
This integration is expected to position Monad as a leading EVM venue to utilize dWallet technology and provide developers with efficiency and scalability to innovate in DeFi.
By Leonardo Perez
