Aerodrome, Ether.fi, zkSync Era Driving DeFi User Growth: How?
The DeFi scene is seeing new life as Aerodrome, Ether.fi, and zkSync Era lead the pack in getting new users. Token Terminals shared data showing Aerodrome had a big win. It gained over 150,000 new tokenholders in one week growing by 12.2%.
Accumulation pattern? ✍️ pic.twitter.com/CSy8tSuy4Y
— Token Terminal (@tokenterminal) July 31, 2024
This surge reflects a broader trend as innovative platforms reshape the crypto space, enticing users with unique offerings and robust investment opportunities.
DeFi user Growth Among Major Protocols
Aerodrome Finance has become a key player in the DeFi world since it started in 2023. People call it a MetaDex because it mixes the best parts of well-known decentralized exchanges like Curve and Uniswap.
Its special voting system rewards users who take part: by locking up AERO tokens, users get veAERO, which lets them sway specific liquidity pools. This system that feeds itself builds up involvement and liquidity pushing Aerodrome into the limelight.
At the time of this report, Aerodrome has grown to over 152,680 users. This growth shows users trust its token system and like its governance plan. More users are joining crypto platforms that offer real value, and Aerodrome is part of this trend.
Ether.fi is also doing well, with a 5.5% jump in new token owners now at 93,000. Ether.fi stands out by focusing on user-friendly ways to provide liquidity and stake assets.
This platform lets users lend their assets while keeping control of their funds. This feature appeals to people who don’t trust traditional holding solutions.
What’s more, Ether.fi’s design has a big impact on creating a community-driven environment. By including strong community governance, the protocol gets users involved pushing them to play an active role in how the network grows.
The ether.fi Foundation, with $6.734 billion TVL shifted ETHFI tokens to separate multi-signature wallets. This move aims to boost fund security and openness.
zkSync Era Grows Despite Struggling Price
Another major player, zkSync Era, is witnessing significant user growth thanks to its innovative Layer 2 scaling solutions on Ethereum. The zkSync Era has positioned itself competitively in the market, welcoming a growing user base that is eager to partake in lower transaction costs and faster speeds.
zkSync Era’s commitment to seamless user experiences aims to drive adoption among users previously hindered by high fees and slow transaction speeds on the Ethereum network.
The zkSync community has seen substantial growth, translating into increasing transaction volumes and user engagement. The adoption of zero-knowledge proofs underpins its advanced privacy features, appealing to users who value security alongside speed.
ZK, the native token of zkSync Era, reached its lowest price ever at $0.13 on July 5. A review shows that ZK’s recent price decline mirrors the overall market movement instead of higher demand for the token. Right now, ZK sells for $0.15 dropping almost 15% over the last week because of the wider market upturn.