The State Of Solana DeFi | Round Table

21 snips

May 8, 2025

Dan Smith, a crypto analyst from Blockworks Data specializing in Solana and decentralized exchanges, shares insights on the current state of Solana DeFi. They discuss the prevailing bearish sentiment surrounding the market and examine Ethereum's influence on community morale. The conversation dives into innovations in decentralized lending, exploring standout projects like Morpho and Euler. Additionally, they highlight the dynamics of liquidity, the rise of AI in DeFi, and the integration of Bitcoin on-chain, pointing to potential future growth despite challenges.

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INSIGHT

Prop AMMs Disrupt Solana DEX Volume

Prop AMMs on Solana like SolFi use oracle pricing to cut out toxic arbitrage and offer tight spreads on liquid assets.
These AMMs mainly cater to retail flows and dominate stablecoin and major asset volumes on Solana.

INSIGHT

Solana DEXs Will Segment Niche

Solana DEXs will likely specialize: prop AMMs for liquid assets and traditional AMMs for meme/long-tail tokens.
Professional market makers avoid risky assets, so passive liquidity remains efficient for those sectors.

INSIGHT

LoopScale Innovates Lending Design

LoopScale innovates lending with an order book matching lenders and borrowers.
This design removes spread, offers fixed rates, enables new collateral types, and supports better risk management.

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Gm, this week we discuss the state of Solana DeFi. We deep dive into why is everyone so bearish, Ethereum's big pivot, Solana perps market share, app revenue, bringing Bitcoin onchain & more. Enjoy! As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice. -- Accelerate your app development on Algorand with AlgoKit 3.0—now with native TypeScript and Python support, visual debugging, and seamless testing. Build, test, and deploy smarter with tools designed for speed and simplicity. Start building with AlgoKit today: https://algorand.co/algokit?utm_source=blockworkspodcast&utm_medium=banner&utm_campaign=algokit3&utm_id=algokit3&utm_term=algokit3 -- Ledger, the global leader in digital asset security, proudly sponsors 0xResearch! As Ledger celebrates 10 years of securing 20% of global crypto, it remains the top choice for securing your assets. Buy a LEDGER™ device now and build confidently, knowing your precious tokens are safe. Buy now on https://shop.ledger.com/?r=1da180a5de00. -- Missed DAS? Join us from June 24th-June 26th at Permissionless IV! Use Code 0x10 at checkout for 10% off! Tickets: https://blockworks.co/event/permissionless-iv -- Follow Carlos: https://x.com/0xcarlosg

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Timestamps:

(0:00) Introduction

(2:07) Why Is Everyone So Bearish?

(6:58) The State Of Solana DeFi

(19:17) Ads (Algorand & Ledger)

(19:57) Solana vs Ethereum Lending

(30:13) The Launchpad Wars

(35:36) Ads (Algorand & Ledger)

(36:39) Solana Perps

(43:30) App Revenue

(46:21) Bringing Bitcoin Onchain

(55:20) RWAs

Check out Blockworks Research today! Research, data, governance, tokenomics, and models – now, all in one place Blockworks Research: https://www.blockworksresearch.com/ Free Daily Newsletter: https://blockworks.co/newsletter/0xresearch -- Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Boccaccio, Danny, and our guests may hold positions in the companies, funds, or projects discussed.