The decentralized finance (DeFi) sector continues to expand beyond Ethereum, with several alternative public chains emerging as competitive platforms. While Ethereum remains the dominant force, chains like Solana, Fantom, and Terra are gaining traction by offering unique scalability solutions and niche-focused ecosystems. Below, we explore their DeFi landscapes, key applications, and growth metrics.
Solana Ecosystem
Overview
Solana (SOL) is a high-performance blockchain designed for internet-scale applications, boasting 50,000 TPS and over 15.7 billion processed transactions. Its low fees (~0.000005 SOL per transaction) make it ideal for developers experimenting with DeFi protocols.
Initiated by FTX founder Sam Bankman-Fried (SBF), Solana’s ecosystem—dubbed the "SBF Universe"—includes projects like Serum DEX and Raydium.
Key Data (April 2021)
- Total Value Locked (TVL): $30.91 million
- DeFi Protocols: 38
Top Applications
Serum (SRM)
- A hybrid orderbook/AMM DEX supporting derivatives trading.
- TVL: $30.42 million | **24h Volume:** $10.66 million
Raydium (RAY)
- An AMM protocol integrating with Serum’s orderbook for enhanced liquidity.
- Supports RAY-USDT, RAY-SOL LP farming and IDO launches.
COPE Protocol
- A "copy trading" platform ranking traders via community votes.
- Offers COPE-USDT liquidity mining.
Fantom Ecosystem
Overview
Fantom (FTM) leverages DAG technology and Ethereum EVM compatibility to enable fast, low-cost transactions. Endorsed by Andre Cronje (AC), its ecosystem integrates Yearn, SushiSwap, and other "AC系" projects.
Key Data
- Transactions: 1.73 million
- Wallet Addresses: 61,062
Top Applications
Popsicle Finance (ICE)
- Cross-chain yield optimizer (BSC, Ethereum, Fantom).
- Farms: ICE-FTM, FUSDT-DAI-USDC LP.
SpookySwap (BOO)
- DEX with upcoming liquidity mining (currently in airdrops phase).
- Pools: FTM-BTC, FTM-ICE.
Terra Ecosystem
Overview
Terra (LUNA) focuses on algorithmic stablecoins (e.g., UST) and payment networks. Its cross-chain bridge supports Ethereum and BSC interoperability.
Top Applications
Mirror Protocol (MIR)
- Synthetics platform for stock tokens (e.g., mBABA).
- TVL: $2 billion | **24h Volume:** $6.3 million
Anchor Protocol (ANC)
- Stable yield platform offering 20% APY on UST deposits.
- Total Borrowed: $382 million
FAQ
Q: Which chain offers the lowest transaction fees?
A: Solana, with fees as low as $0.000001 per transaction.
Q: Can Ethereum DeFi apps run on Fantom?
A: Yes, Fantom’s EVM compatibility allows easy migration.
Q: How does Terra’s stablecoin maintain its peg?
A: Through LUNA arbitrage—burning LUNA to mint UST when demand rises.
👉 Explore more DeFi innovations
Note: All data reflects April 2021 metrics.