Gate Decentralized Finance Daily ( August 27, ): BetterBank suffered a $5 million loss due to an attack; Meteora confirms first quarter points.

On August 27, the overall rebound of the crypto assets market led to a rapid recovery in the Decentralized Finance (DeFi) zone. The total Lock-up Position (TVL) across the network rose to approximately $157.118 billion, with a 24-hour increase of 3.62%. The 24-hour volume of Decentralized Exchanges (DEX) reached $17.87 billion, with Uniswap, PancakeSwap, and Hyperliquid ranking in the top three. Multiple public chain ecosystems showed activity, with Ethereum and Solana DEX volumes both surpassing $3 billion, while the Base chain's volume remained stable. Driven by market recovery and project dynamics, tokens such as UNI, CRV, and SYRUP experienced significant rises, and investment enthusiasm in DeFi continued to heat up.

DeFi Market Overview

(Source: DeFiLlama)

Total DeFi TVL across the network: approximately $157.118 billion, along with the rebound of the crypto market, 24H increased by 3.62%.

DEX 24-hour volume: Approximately $17.87 billion, with the top three being: Uniswap ($4.982 billion), PancakeSwap ($1.998 billion), Hyperliquid ($1.653 billion).

Popular Protocols and On-chain Performance

According to TVL, the top ten DeFi protocols data is as follows:

(Source: DeFiLlama)

Among them, the performance data of the top-ranked protocols are as follows:

Lido: TVL approximately 40.496 billion USD, daily rise of 4.19%, weekly growth of 9.94%, 24-hour fees approximately 3.25 million USD;

Aave: TVL approximately 39.986 billion USD, daily rise of 2.81%, growth of 10.86% in the past week, 24-hour fees approximately 3.02 million USD;

EigenLayer: TVL approximately $20.992 billion, daily pump of 4.08%, growth of 10.46% over the past week, 24-hour fees approximately $305,000;

Ethena: TVL approximately 12.379 billion USD, daily pump of 0.65%, growth of 5.65% over the past week, and 24-hour fees approximately 25,791 USD;

ether. fi: TVL approximately 11.988 billion USD, daily rise 4.04%, growth in the past week 8.88%, 24-hour fees approximately 963,000 USD.

Project News Review

1. According to on-chain analyst Ai Yi (@ai_9684xtpa), there are already 13.35 billion tokens in the WLFI Lockbox contract, valued at 3.5 billion dollars. Based on the current price of the WLFI contract at 0.2615 dollars, the paper return rate for Phase 1 investors in the public offering is still 16.43 times, and for Phase 2, it is 4.23 times.

Additionally, it seems to be affected by the XPL hedging attack incident, with Hyperliquid WLFI OI (Open Interest) decreasing by 49% in the last 24 hours;

At the same time, according to monitoring by Lookonchain, as the launch time of WLFI approaches in 5 days, a whale has created a new wallet "0x8C43" and spent 248 ETH (1.12 million USD) to purchase 6.95 million WLFI-related meme coins Block 6 hours ago.

2. According to official news, the prediction market DeFi layer protocol Gondor has announced the completion of its angel round financing, with the specific financing amount undisclosed. This round of financing was participated in by Maven 11. It is reported that Gondor's first product "Polymarket Position Lending Protocol" is about to launch.

3. According to data from the encryption analysis agency TokenLogic, the net asset value of the Aave treasury (excluding AAVE) has reached a historical high of 132.7 million USD, with a year-on-year increase of 130%. If AAVE is included, the treasury balance is approximately 329 million USD.

The current composition of Aave's net treasury is: 44.6% ETH and related tokens, 39.5% stablecoins, 10.8% DeFi tokens, and BTC-related tokens account for 4.9%.

4. Meteora officially announced that it has completed the final confirmation of the first season points, and the specific distribution status of the first season points is as follows.

Points for 2024: A total of 327.7 billion (327,723,650,254) points distributed across 328,976 wallets;

Points for 2025: A total of 565.3 billion (565,366,058,002) points distributed across 287,687 wallets;

Pool Points Activated: A total of 30.77 billion (307,712,100,712) points distributed across 24,929 wallets.

5. The DeFi protocol Resolv Foundation stated that since gradually enabling the fee switch on July 31, the Resolv Foundation has generated $226,000 in core protocol fees. The buyback has started: approximately $170,000 in revenue has been used to purchase around 1 million RESOLV, at an average price of about $0.16 per coin.

6. The DeFi platform BetterBank on PulseChain was attacked, resulting in a loss of approximately 5 million USD. The attacker has converted part of the stolen assets into 215 ETH (about 983,000 USD), and the current storage address is: 0xf3ba0d57129efd8111e14e78c674c7c10254acae.

Overview of Major Ecological Leading DeFi Projects

Ethereum DEX 24-hour volume remains at the top, approximately $4.84 billion, with a total trading volume of about $140.13 billion over the past 30 days, among which the top three projects are:

Uniswap (24-hour volume of $2.713 billion), Ekubo (24-hour volume of $734.43 million), Fluid (24-hour volume of $521.54 million);

Solana DEX ranked second in 24-hour trading volume, only behind Ethereum, at approximately $3.184 billion, with a trading volume of about $109.365 billion over the past 30 days, with the top three projects being:

HumidiFi (24-hour volume 644.44 million USD), Orca (24-hour volume 637.63 million USD), Raydium (479.01 million USD);

Base DEX 24-hour trading volume remains in third place at approximately $2.072 billion, with a trading volume of about $52.714 billion over the past 30 days, among which the top three projects are:

Aerodrome (24-hour volume $875.06 million), Uniswap ($634.15 million), PancakeSwap ($468.98 million).

Gate DeFi zone Token market data

According to the data from the Gate market page, the price performance of the top ten tokens in the DeFi zone is as follows:

(Source: Gate DeFi Sector Quotes)

On August 27, as the Crypto Assets market overall rebounded, the Decentralized Finance zone tokens performed well, among which:

UNI is currently priced at 9.93 USD, with a 24-hour rise of 2.1%;

AAVE is currently reported at 329.88 USD, with a 24-hour rise of 0.02%;

INJ is currently priced at 13.37 dollars, with a 24-hour rise of 3.81%;

CRV is currently priced at 0.8126 USD, with a 24-hour rise of 5.18%;

SYRUP is currently priced at 0.4573 USD, with a 24-hour rise of 13.99%.

Market Trend Interpretation

1. TVL steadily rebounds, with Lido and Aave leading the way

Lido and Aave continue to solidify their leading positions, with TVL reaching 40.496 billion USD and 39.986 billion USD respectively, both showing weekly growth of over 10%, indicating a strong recovery in staking and lending demand. Protocols like EigenLayer and ether.fi have seen significant growth, driving the expansion of the Ethereum ecosystem's staking market.

2. DEX volume rebounds strongly, on-chain ecosystem competition intensifies

The 24-hour trading volume on the Ethereum chain DEX has rebounded to $4.84 billion, followed closely by Solana at $3.184 billion, with the Aerodrome, Uniswap, and PancakeSwap in the Base chain ecosystem performing steadily. The trading volumes of multi-chain DEXs have all surpassed historical average levels, indicating a gradual recovery of on-chain liquidity.

3. Frequent Hot Projects and Risk Events

WLFI contract lock-up assets exceed 3.5 billion USD, and the public offering round investment return rate remains impressive, with whale activity intensifying market expectations. Meanwhile, the PulseChain platform BetterBank suffered a $5 million attack, reminding the market to stay vigilant between high yields in DeFi and security risks.

4. Token performance rises in sync with market heat

According to Gate's market data, CRV has increased by over 5% in a single day, while SYRUP has risen nearly 14%, becoming a star in the zone; UNI and AAVE have shown stable trends, reflecting the funding support for top projects.

Analyst's View

1. Clear signs of capital returning: The recent synchronized rise in market TVL and DEX trading volume indicates that capital is returning to the on-chain ecosystem, with staking and lending protocols becoming the main battleground for concentrated capital inflow.

2. The multi-chain pattern continues to evolve: The trading volume performance of Solana and Base is robust, highlighting the differentiated competition in the multi-chain DeFi ecosystem, and the demand for cross-chain liquidity tools among investors may continue to increase.

3. Project dynamics stimulate investment sentiment: The high lock-up value of WLFI and whale layout events have become the focus of market attention, and the narrative around crypto assets is constantly being updated, which is expected to further drive the zone's popularity.

4. Risks Still Exist: Hacker attacks and protocol security risks still need to be a key focus. Although there are obvious signs of market recovery, the security governance of Decentralized Finance remains an important reference factor for investors.