BlockBeats News, April 6th, according to The Block, the majority of mainstream DeFi protocols on Solana, Ethereum, and BNB Chain saw a more than 50% month-over-month decline in revenue in March, reflecting an overall slowdown in on-chain activity and transaction volume. Solana protocols generated a total revenue of approximately $42 million, a 55% decrease compared to the previous month; PancakeSwap on the BNB Chain saw revenue of $21 million, a 54% decrease; Ethereum-based protocols such as Ethena, Lido, Aave, among others, had a total revenue of $24.5 million, dropping over 52%.
The only protocol that saw growth was MakerDAO (now known as Sky), with March revenue reaching $10 million, an 11% increase compared to the previous month. DeFi tokens also showed weakness, with GMCI's GMDEFI index already down 40% year-to-date.
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