DeFi revenues generally halved in March, with only MakerDAO achieving growth

CoinRank News: Most mainstream DeFi protocols on Solana, Ethereum, and BNB Chain saw revenues fall by more than 50% month-on-month in March, reflecting an overall slowdown in on-chain activity and trading volume. The Solana protocol had a total revenue of approximately $42 million, a month-on-month decrease of 55%; PancakeSwap on the BNB chain had revenue of $21 million, a decrease of 54%; protocols on the Ethereum chain such as Ethena, Lido, and Aave had a total revenue of $24.5 million, a decrease of more than 52%. The only one that bucked the trend was MakerDAO (now called Sky), with revenue of $10 million in March, an increase of 11% month-on-month. DeFi tokens also performed weakly, with GMCIs GMDEFI index down 40% this year. (The Block)