Who Were DeFi’s Biggest Winners of 2024 and What’s Next in 2025?

Patrick is the Creator of Dynamo DeFi and Stephen is the Founder of DeFi Dojo. In this year-end episode, we review who are the biggest winners of DeFi in 2024 and what we can expect next in 2025! From Solana DeFi's breakout year to Base’s remarkable growth onchain, we dive into all the protocols, trends, and narratives that defined this part of the cycle. We discuss Ethena’s tokenized basis trade, Hyperliquid’s explosive volume, the rise of RWAs, ether.fi's lead in liquid restaking, and the killer apps driving adoption, including memecoins and tokenized AI agents. Plus, we explore emerging opportunities in liquid tokens, innovative primitives like Instadapp Fluid, and the regulatory shifts that could shape DeFi’s future. ------ 🔗 Essential Show Links 🔗 ► Edge Newsletter: https://the-edge.xyz ► Youtube: https://youtube.com/@defidad ► Apple: https://tinyurl.com/edgepod ► Spotify: https://tinyurl.com/edgepodspotify ► Linktree: https://linktr.ee/edge_pod ► Follow DeFi Dad: https://x.com/DeFi_Dad ► Follow Nomatic: https://x.com/Nomaticcap ► Learn DeFi: http://defidad.com/ ------ The Edge Podcast Sponsor Resources ⏳ HOURGLASS | LEVERAGED AIRDROP FARMING AND BOOSTED POINTS ♦️ REDSTONE ORACLES | THE FASTEST GROWING ORACLE FOR DEFI 📈 iYIELD | YOUR FINANCIAL PICTURE, SIMPLIFIED 🧪 MANTLE | START YOUR RESTAKING JOURNEY TODAY WITH CMETH 🐡 PUFFER UNIFI | A BASED ROLLUP TO ETHEREUM WITH NATIVE YIELDS 🌔 MOONWELL | THE LEADING LENDING AND BORROWING APP ON BASE ------ Timestamps 0:00 - Intro 5:22 - DeFi Winners in 2024 5:44 - Pendle and Ethena’s big year 9:31 - Base and Aerodrome’s remarkable growth 10:53 - Solana’s best year yet 11:48 - pump.fun finds product-market fit 12:56 - Hyperliquid’s trade volume goes parabolic 21:01 - ether.fi leads among LRTs and is top 5 by TVL 27:19 - Stephen’s leveraged stake loop strategy for eETH on Aave 30:15 - Kamino and Jupiter were Solana kings of DeFi 35:05 - Why JLP is such a powerful money lego? 38:30 - Mantle mid-roll 39:11 - Why Instadapp Fluid is a next-gen primitive 47:00 - Usual launches a community-owned competitor to USDT 50:54 - RWAs prove being a winner this cycle 52:56 - Degens love T-bill-backed yields and protocols 54:54 - Moonwell mid-roll 55:27 - Memecoins are one of DeFi’s killer apps 58:42 - Tokenized AI agents lead the bull run into 2025 1:10:03 - The impact of friendlier DeFi regulation in 2025 1:13:18 - Opportunity in liquid DeFi tokens 1:19:21 - BTCfi had a big year but still promises huge growth ahead 1:22:03 - Closing ------ 🔗 Guest Links 🔗 ► Dynamo DeFi website: https://dynamodefi.com/ ► Patrick on X/Twitter: https://x.com/dynamo_patrick ► DeFi Dojo website: https://whop.com/defi-dojo/ ► Stephen on X/Twitter: https://x.com/phtevenstrong ------ If you're a DeFi/Web3 builder, contact our team at: https://fourthrevolution.capital/ All opinions expressed by hosts and podcast guests are solely their own opinions and not necessarily those of Fourth Revolution Capital. Podcast guests and 4RC may have positions in the assets or other matters discussed in this podcast. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.