@topco · Post #86 · 2024. 05. 28. PM 05:41
The State of TON DeFi Q1 2024 The 7-fold increase in TVL on TON-based DEXs, fueled by the memecoin hype and The Open League marked Q1 2024. Designed as a gamified competition to showcase the best TON projects and promote user retention, The Open League's Pilot Season was centered around an incentives campaign held on DEXs that featured boosted pools, resulting in the tripling of TVL on TON. Prior to this, a dramatic surge in the popularity of jetton trading brought trading volumes on STON.fi and DeDust to the new all-time highs that were continuously renewed throughout Q1 2024. DEX performance, along with liquid staking—which remains a dominant segment of TON DeFi with over 70% of TVL share—propelled TON into the top-20 chains by TVL, with significant contribution from Tonstakers, the largest liquid staking protocol on TON. Learn more about: - What was the Pilot Season about and how you can earn rewards with The Open League now - The rise of jetton trading on TON that propelled the combined 24H trading volume on STON.fi and DeDust from less than $1M at the beginning of the quarter to $30M+ by the end - Lending protocol Evaa Protocol going live on TON - The introduction of RedStone, the first oracle on TON, a major milestone in data integrity for TON-based DeFi. Find our previous reports here: The State of TON DeFi Q3 2023 The State of TON DeFi Q2 2023 The State of TON DeFi Q1 2023 TON: DeFi Landscape #May2024#TON#DeFi#DEX#Q1_2024