Web3 applications and protocols saw 124% growth in 2023, where an average of 4.2 million UAWs interacted with these apps daily, more than double the number of users in 2022.
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.
One Solana-based maximum extractable value (MEV) bot made headlines this past week as it raked in $1.7 million in profit from a single trade. Meanwhile, the Near Foundation laid off 40% of its staff despite a solid financial performance, and the United States Commodity Futures Trading Commission (CFTC) seeks to mitigate DeFi risks with the ecosystem’s stakeholders — all of this and more in our weekly DeFi newsletter.
The top 100 DeFi tokens had a bullish week, which was led by the approval of the first Bitcoin (BTC) exchange-traded fund (ETF) in the United States. The total value locked in DeFi protocols also breached $65 billion.
