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Most of you are underestimating how thin margins are for non-DEX protocols.
- @KelpDAO raised $9M in 2024 and has generated $5.5M in revenue since, while holding $1.5B in TVL.
- @0xfluid has generated $20M in revenue with only $900M in TVL (ATH is $2.5B).
- @centrifuge made $3M while managing a TVL of $1.9B.
- @sparkdotfi holds $5.1B in TVL but has generated only $26.6M since 2023.
If you expected some of the protocols to step in and contribute to defiunited.eth... they simply may not have had money for this.