Gate Decentralized Finance Daily ( October 10 ): Aster Phase 2 Airdrop details announced; Ethena daily protocol fees nearly 17 million USD.

On October 10, the crypto market was under pressure, with BTC falling to around $121,000 and ETH maintaining above $4,300. The DeFi zone showed fluctuations, with the total value locked (TVL) across the network dropping to about $166.097 billion, a 2.81% decline in 24 hours. Nevertheless, DEX volume remained strong, with a 24-hour trading volume reaching approximately $24 billion, with Uniswap, PancakeSwap, and HumidiFi ranking in the top three. At the protocol layer, mainstream protocols like Aave, Lido, and EigenLayer saw a slight decline in TVL, whereas Ethena performed strongly in protocol revenue, continuing to rank high on the fee leaderboard.

Decentralized Finance Market Overview

(Source: DeFiLlama)

Total DeFi TVL across the network: Today (October 10), the overall crypto market has fallen, BTC has retreated to around 121,000 USD, and ETH remains above 4,300 USD; the total DeFi TVL across the network is currently 166.097 billion USD, down 2.81% in the last 24 hours.

DEX 24-hour volume: approximately 24 billion USD, with the top three being: Uniswap (7.394 billion USD), PancakeSwap (4.776 billion USD), HumidiFi (1.298 billion USD).

Popular Protocols and On-Chain Performance

Based on TVL, the top ten DeFi protocol data is as follows:

(Source: DeFiLlama)

The data performance of the top-ranked protocols is as follows:

Aave: TVL approximately 43.152 billion USD, a fall of 4.17% in the past week;

Lido: TVL approximately 36.91 billion USD, a fall of 3.46% in the past week;

EigenLayer: TVL approximately 18.352 billion USD, with a 2.58% fall in the past week;

Ethena: TVL approximately 14.81 billion USD, with a decline of 1.14% over the past week;

ether. fi: TVL is approximately 10.748 billion USD, with a decline of 4.53% over the past week.

In addition, the top ten projects ranked by protocol fees in the past 24 hours are as follows:

(Source: DeFiLlama)

Among them, Ethena had protocol fees of 16.9 million USD in the past 24 hours, ranking second only to Tether (22.68 million USD); Uniswap had protocol fees of 13.16 million USD in the past 24 hours, surpassing Circle to rank third; Gauntlet ranked fifth with 5.31 million USD.

Project News Summary

1. According to GMGN market data, only 2 graduation tokens of Pump.fun have a market value exceeding 1 million USD in the past 24 hours, and the speculation frenzy on the Solana chain has significantly cooled down.

2. According to the official announcement, Aster has announced that the second phase airdrop check page will go live today at 21:00. Previously, Aster stated that it has added more flexibility to the reward collection method for users in Genesis Phase 2 (S2): Option 1: Receive ASTER airdrop as usual. Option 2: Full refund of S2 transaction fees. Treat it as a zero-fee trading activity.

3. The leading enterprise in institutional-grade staking services, Blockdaemon, has announced a strategic partnership with Aave Labs, the core contributor to the Aave protocol, aimed at expanding channels for institutions to access Decentralized Finance (DeFi) opportunities. Aave Labs and Blockdaemon are committed to providing institutional-grade Aave DeFi market access services, and are leveraging Blockdaemon's Earn Stack and Aave Vaults to achieve this goal.

4. According to MLM monitoring, a certain Hyperliquid whale wallet closed a long position worth 16 million USD in HYPE yesterday and sold 100,000 HYPE (approximately 4.4 million USD). The reason seems to be that its private key was leaked, leading to the complete draining of the account: approximately 17 million USD was stolen from its Hyperliquid account; additionally, about 3.1 million USD worth of assets deposited in the Plasma Syrup Vault (liquidity pool) were also stolen.

After the attack occurred, the "hacker" transferred all the stolen assets, exchanged the stolen USDC for DAI, and moved it to two new wallets, where the funds are still held: the hacker also transferred MSYRUPUSDP worth $3.11 million to another new wallet.

5. Liquid Capital (formerly LD Capital) founder Yi Lihua stated that a significant bottom-fishing opportunity is about to arise, and patience is required to filter out the noise. Sell when the crowd is noisy, buy when no one is interested, seize good assets and increase the quantity. The three major assets that surpass cycles in the crypto sphere: public chains (BTC, ETH, etc. )), trading platforms (BNB, Aster, etc. ), stablecoin-related (WLFI, Tether equity, etc. ).

Previously, Trend Research under Yi Lihua deposited 145,000 ETH into CEX from October 3 to 5, worth $654 million, and its on-chain address has only 7,163 ETH remaining.

6. Monad's Growth Director Kevin McCordic (@Intern) stated during a podcast that past airdrop projects typically used a verification system to determine if users were eligible before they could claim. Monad's airdrop will not use this approach; instead, there will be a specific time window during which users must complete certain tasks to receive the airdrop.

Overview of Major Leading DeFi Projects

Ethereum DEX 24-hour trading volume remains at the top, approximately $5.931 billion, among which the top three projects are:

Uniswap (4.409 billion USD), Fluid (774.22 million USD), Curve Finance (223.48 million USD);

BSC DEX 24-hour volume surpassed Solana, ranking second at approximately 5.551 billion USD, with a week-on-week growth of 43.46%; among which the top three projects are:

PancakeSwap ($4.221 billion), Uniswap ($1.027 billion), four.meme ($139.63 million);

Solana DEX ranks third in 24-hour trading volume, approximately 5.067 billion USD, with the top three projects being:

HumidiFi ($1.298 billion), Meteora ($973.45 million), Raydium ($647.36 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 zone market)

As of October 10, the crypto market has overall fallen, with tokens in the DeFi zone fluctuating, specifically:

UNI is currently reported at 8.19 USD, with a 24-hour increase of 4.23%;

WLFI is currently reported at 0.176 USD, with a 24-hour fall of 1.89%;

AAVE is currently reported at 274.64 USD, with a 24-hour increase of 0.35%;

2Z is currently reported at 0.3301 USD, with a 24-hour fall of 8.85%;

INJ is currently at 12.12 USD, with a 24-hour fall of 0.02%;

MYX is currently priced at 4.99 dollars, with a 24-hour fall of 2.23%;

CRV is currently reported at 0.7356 USD, with a 24-hour increase of 0.64%;

MORPHO is currently reported at 1.63 USD, with a 24-hour fall of 4.16%.

Market Trend Interpretation

TVL slightly declines, with slight capital outflow pressure

Despite the rebound foundation in the market, the overall environment remains weak. Aave fell 4.17% this week, Lido dropped 3.46%, and EigenLayer decreased by 2.58%, impacting multiple staking and lending protocols.

DEX trading activity remains a highlight in the market

Although TVL has declined, DEX volume remains strong, with a daily trading volume reaching 24 billion USD. The market shares of Uniswap, PancakeSwap, and HumidiFi are solid, indicating that trading demand still has resilience in the market downturn.

Aster airdrop rhythm is promising, protocol participation may be activated

Aster announced that the second phase airdrop check page will go live today at 21:00, providing users with more flexible airdrop claiming options. This move may stimulate platform activity and capital inflow in the short term.

Risk events sound the alarm, security risks must be taken seriously

Hyperliquid's whale wallet was allegedly hacked due to a private key leak, resulting in the theft of nearly 17 million dollars in assets, which may impact the confidence of institutions and users. Such security incidents remind DeFi projects to strengthen their security mechanisms during rapid expansion.

Institutional cooperation and infrastructure upgrades are becoming more active

Blockdaemon has reached a strategic partnership with Aave to provide Decentralized Finance access services for institutions, which may lower the barriers for institutional capital entering DeFi in the future.

Analyst Insights

Airdrop expectations may drive short-term sentiment

Analysts believe that the Aster second phase airdrop, along with its flexibility in future reward mechanisms, may boost user activity and locking willingness in the short term, but the core challenge remains in subsequent execution and market acceptance.

Active trading supports the cost side continuously

Despite fluctuations in funding, the robustness of DEX volume supports the performance of protocol fees, especially for Uniswap and Ethena. This means that even if TVL declines, the platform can still generate revenue through the trading side.

Security incidents or capital outflows

Once the massive theft incident is confirmed, it may impact the trust system between users and funds. Analysts suggest that medium to short-term capital should avoid high-risk protocols and prioritize projects with thorough security audits.

Enhanced Role of Institutional Bridging

The collaboration between Aave and Blockdaemon is seen as a bridge for institutions to enter Decentralized Finance. Such collaborations are expected to lower the participation threshold for institutions and may attract more large capital funds into the market in the future.