Solana’s DeFi milestone: TVL soars to $17.5B with new protocol leaders

• Solana Defis TVL hit $ 17.5b, led by new protocols such as JTO, KMNO and Jupiter.
• Retail users and revenue farmers (not institutions) control the explosive growth of native defines in the Solana.

Solana is [SOL] The ecosystem has just hit the main milestone and exceeded $ 17.5 billion in total locked. But unlike previous cycles, these are not old names that lead a fee.

New protocols such as JTO, KMNO and Jupiter [JUP] They are now on top and show a shift in how users and developers interact with the network.

Solana: Moment of $ 17.5 billion

Solana is Defi ecosystem reached fresh tall, With tvl climbing at $ 17.5 billion from July 7th. This means the strongest performance of network from the Taurus from the end of 2021.

The true story, however, lies in who manages this growth. Older platforms such as Marinade and Orca were overtaken by a new class of protocols.

Above is JTO, a download protocol that holds $ 2.72 B (17.94% of the total TVL), followed by KMNO with a lending of $ 2.43 and Jupiter with 2.39 B in dex liquidity.

Together these three account for more than 43% of the locked capital of Solana; Main shift in user preference to download, lending and native business tools.

What has changed?

Over the last month, Sola’s growth has been powered by protocols created specifically for its high -performance design.

Kamino recently launched Rent V2 with modular safes and credit markets to increase the total offer to $ 3.7 billion (+4.3%) and active debt to $ 1.5 billion (+3.5%) in June.

Its automated safes now have almost $ 50 million deposits and offer revenues up to 8.6%.

Combine it with light Blocks Solana, Times, Subcembert fees and tailor -made fees (like XBTC on Kamino) and the chain retains capital according to its own conditions.

Who finances an increase?

It seems that Solana’s increase in TVL is less driven by institutional money and more opportunistic yield of farmers and the rotations of capital led by community.

Protocols such as JTO and Kamino offer competitive revenues and lending that attract active users in the chain rather than a passive influx of ETF.

The presence of high activity of the wallet and smaller average deposits also indicates a strong retail participation. While institutions are increasingly focusing on Ethereum’s [ETH] Regulated layers, Solana prosper.

This is through rapidly moving liquidity controlled by incentive; Mobilized by users who know how to chase yield and optimize across native platforms.