Solana’s stablecoin market cap reached a record of US$12.8 billion. Raydium released its own token launch tool, LaunchLab. EigenLayer added token slashing to its network.
Bitcoin’s TVL dropped by 19%, while Hyperliquid’s TVL grew by 31% week-over-week.
For DEXes, Aerodrome and GMX led the TVL growth with 10.73% and 10.09%, respectively.
Weekly DeFi Index
This week, the market capitalisation index increased by +9.77%, while the volume and volatility indices dropped by -20.84% and -55.04%, respectively.
The total stablecoin market capitalisation on Solana reached a milestone of US$12.8 billion this month. The surge was fuelled by demand for new stablecoins from increased decentralised finance (DeFi) on-chain activity, as well as the integration of new decentralised applications (dapps) on Solana.
EURC (EURC) and Ondo US Dollar Yield (USDY) led the surge, with the market cap of the former growing by 150% to $38.9 million in the last 30 days and the latter growing by 61% to $176.9 million within the same period. USDC’s market cap also grew by 3%, while USDT held steady at $2.32 billion without significant growth.
Raydium, a Solana-based decentralised exchange (DEX), released its own token launch tool, LaunchLab, to compete with pump.fun. The new platform enables users to launch tokens that tap directly into Raydium’s liquidity pools. 25% of all transaction fees will be allocated to buying RAY, its native token.
Ethereum restaking protocol EigenLayer has added token slashing into its platform. Slashing is a mechanism that punishes malicious validators by reducing their staked amount, therefore deterring self-serving actions. This feature was missing during EigenLayer’s launch last year, leading to criticism that EigenLayer did not have the capability to carry out its ambitious pitch.
Ethereum Layer-2 (L2) Arbitrumreleased the Timeboost upgrade, a novel transaction policy designed to accelerate transactions and improve network efficiency. The upgrade introduced a sealed-bid, on-chain auction that allows Maximal Extractable Value (MEV) searchers to compete for transaction inclusion, reducing latency and congestion.
Eliza Labs, the developer of the AI agent framework ai16z, launched auto.fun, a no-code platform that lets users create and deploy AI agents without programming knowledge. It supports the creation of AI agents that interact with social media, dapps, and other Web3 services, allowing users to automate the execution of tasks and strategies.
USDC issuer Circleintroduced Refund Protocol, a non-custodial smart contract system enabling dispute resolution for stablecoin transactions without centralised intermediaries. This initiative addresses the lack of a built-in mechanism for refunds or chargebacks in stablecoin transactions. The protocol empowers payment arbiters to facilitate refunds while maintaining the decentralised nature of the platform.
Ripple’s RLUSD stablecoin launched on Aave’s V3 Ethereum Core marketplace, attracting over $19 million to its lending pool. Over $4.68 million in loans have been borrowed, and the token’s market capitalisation stands at $300 million.
Synthetix protocol’s sUSD stablecoin depegged from the US dollar, falling to a new low of $0.66 after a month of instability following the implementation of the SIP-420 upgrade, which restructured debt handling and weakened key incentives.
Wall Street On-Chain Part 2 – RWA Tokenisation: Real-world asset (RWA) tokenisation is revolutionising traditional finance by bringing liquidity, efficiency, and accessibility. This report explores tokenisation by asset classes, including institutional adoption and regional initiatives, as well as RWAs by chain.
Alpha Navigator: Quest for Alpha [March 2025]: Asset performance was mixed. Crypto and Equities led the drop, while Real Assets and Fixed Income increased. In March, US President Donald Trump signed an executive order to establish a US Strategic Bitcoin Reserve and digital asset stockpile.
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DeFi & L1L2 Weekly — 📈 Solana’s stablecoin market cap reached a record of US$12.8 billion; Raydium released its own token launch tool, LaunchLab
Solana’s stablecoins market cap reached a record of US$12.8 billion. Raydium released its own token launch tool, LaunchLab. EigenLayer added token slashing to its network.
