DeFi is one of the most interesting sectors of the crypto industry with huge potential and new financial opportunities for millions of people. In this article we have already reviewed the phenomenon of DeFi. Now we are going to dive deeper into promising DeFi projects that are worth considering in 2024.

Maverick Protocol (MAV)

Maverick Protocol represents an innovative AMM DEX, currently operational across Ethereum, zkSync Era, Base, and BNB Chain. The Maverick AMM introduces an optimized liquidity provision approach, known as the concentrated liquidity model, which greatly enhances the experience for both liquidity providers (LPs) and traders. It debuted in 2023, with its MAV token hitting prominent exchanges in June. Since its inception, the project swiftly secured a significant market presence and now ranks among the top-12 DEX by trading volumes.

Notably, Maverick attracted investments from leading venture capital firms, including Founders Funds, Binance Labs, Coinbase Ventures, Pantera Capital, Circle, among others.

Increased interest in the DeFi sector has the potential to elevate Maverick's usage, drive growth in trading volumes, and draw fresh users to the protocol. Its presence across popular chains, coupled with collaborations offering added yield opportunities, could further enhance Maverick's standing. Additionally, with the MAV token's current market capitalization hovering around $79.3M, it signals substantial growth prospects for the project.

Lybra Finance (LBR)

Lybra Finance stands as a liquid staking protocol, aiming to amplify the utilization of liquid staking tokens (LST) within the DeFi. It presents an opportunity to earn tangible yields through its interest-bearing stablecoin, eUSD, minted by depositing ETH or ETH LSTs into the system. eUSD offers real yields, approximating around 8%, to its holders. These earnings stem from the deposited collateral (LSTs) and are subsequently distributed among eUSD holders. Therefore, unlike traditional stablecoins, mere holding of eUSD generates a real income.

In its V2, Lybra Finance introduced peUSD, an omnichain fungible token embedded with LayerZero integration, pegged to eUSD at a 1:1 ratio. peUSD represents an omnichain variant of eUSD, serving multiple purposes within DeFi applications, including trading and lending/borrowing. Notably, peUSD remains usable while the collateral used to mint it (eUSD or non-rebase LST) continues to generate yield.

Lybra Finance is one of the leading LSDFi protocols by total value locked, accounting for almost 25% of LSDFi market.

Lybra Finance brings innovative mechanics that bolster the potential of LSTs. With the surge in interest surrounding liquid staking, Lybra Finance holds significant potential in the approaching year.

Maple (MPL)

Maple functions as a credit platform, harnessing on-chain credits for institutional participants. It provides a DeFi infrastructure for institutional lenders and borrowers, optimizing their resources and elevating capital efficiency. Maple offers diverse options for fund allocation, featuring pools secured by US Treasury Bills, digital assets, and off-chain credit pools backed by real-world assets.

The emergence of on-chain lending and RWAs gained considerable attention in 2023, notably witnessing a rapid surge in Total Value Locked (TVL) of RWA protocols (currently ranks seventh according to DefiLlama). The integration of RWAs within DeFi holds the potential to introduce billions of dollars into this sector, with a growing number of TradFi entities expressing keen interest in crypto-powered credits and tokenization of tangible assets. Service providers engaged in lending and RWA-backed credits for institutional players, such as Maple, stand to significantly benefit from the substantial expansion projected for this sector in the near future. Notably, November 2023 has already marked as the most profitable month for Maple.

Gains Network (GNS)
Gains Network operates as a decentralized platform optimized for efficient liquidity in leveraged trading. Offering a wide array of trading pairs encompassing cryptocurrencies, Forex, and commodities, it permits leverage of up to 1000x (specifically on Forex). Functioning across Arbitrum and Polygon blockchains, Gains Network mirrors centralized exchanges with familiar features like charts, order book, trade history, and market/limit orders. However, unlike centralized exchanges (CEXs), users are not required to undergo registration or KYC procedures, thereby enhancing the user experience by enabling direct trading from their wallets.

Holders of the GNS token can partake in platform revenue via single-sided staking, receiving their share of revenue in the form of DAI stablecoin. Presently, nearly 60% of fees are directed toward the GNS staking pool.

Given the escalating interest in decentralized leveraged trading platforms, Gains Network holds substantial growth potential for the future. Now the project already ranks in the top-10 derivatives DEX by 30D fees.

Jito(JTO)

Jito stands out as a liquid staking solution specifically designed for Solana. Within this service, users have the opportunity to stake their SOL within the protocol and, in return, receive a liquid staking token known as JitoSOL. This token, JitoSOL, represents a flexible asset that generates earnings from staked SOL tokens and, additionally, through MEV transactions conducted on the Solana network. As a result, users can reap yields and benefit from enhanced capital efficiency by utilizing JitoSOL within various other DeFi protocols.

Notably, Jito ranks among the leading protocols on Solana in terms of Total Value Locked (TVL), currently securing the third position according to DefiLlama. It showcases impressive growth in TVL over recent months, further solidifying its position within the Solana ecosystem.

The recent surge in Total Value Locked (TVL) finds its roots in the growing interest in Solana and its ecosystem, which aligns with the growth of the SOL token. Additionally, Jito's provision of an airdrop to its users played a crucial role in amplifying the protocol's utilization.

Forecasts suggest a probable uptick in interest in liquid staking in the forthcoming years, especially with Solana positioned as one of the leading L1 blockchains. A need arises for infrastructure catering to the liquid staking of SOL within the Solana network. Jito presents itself as an interesting solution for enhancing SOL's utility and can benefit from it in the future.

These are the promising DeFi projects for 2024, however, this is not a complete list. Make sure to follow the news of the Crypto World, read about more projects and tokens and swap, buy and sell cryptocurrency via SimpleSwap instant exchange!

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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