DeFi slowdown intensifies But it is too early to tell if DeFi is “dead.” As the crypto winter progresses, some crypto investors are starting to realize that one of the few protocols is still making money. It works well even when the market is facing difficulties.
Let’s take a look at some of the protocols that are still growing in today’s bear market.
DeFi May Die, But Revenue Platforms Will Grow
Data from Token Terminal shows that that positive income platform Most of them are nonfungible token exchanges (NFTs) such as LookRare and OpenSea.
Aside from some protocols such as MetaMask, Decentral Games, Axie Infinity, and Ethereum Name Service, most of the remaining protocols with the highest revenue are decentralized financial platforms.
Fee-sharing helps attract liquidity.
DeFi protocols and decentralized applications (DApps) that offer fee sharing to token holders. And liquidity providers are also good income.
While the bear market continues to pound and eliminate unprofitable and poorly managed platforms. But protocols that offer passive income channels to token holders are. There is still a high chance that it will stand until the next bull market starts.
Synthetix (SNX) is back.
A good example of fee sharing that can boost token prices and the DeFi protocol is Synthetix (SNX), which has partnered with Curve Finance to create Curve pools for multiple Synths assets.
Since the creation of cross-chain partnerships, protocol revenue for Synthetix has increased exponentially. This coincided with the SNX price increase from $1.56 to its current $2.59 price.
For now, the platform is showing that Monetization and share some of that revenue with token holders. It is one way to maintain market share during the current market downturn.
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