Meme Insider
Hey there, crypto enthusiasts! If you're keeping an eye on the Solana ecosystem, you've probably heard the buzz around Fluid (@0xfluid on X). A recent thread from Edgy at The DeFi Edge highlights some seriously exciting developments that could make Fluid a standout in the DeFi world. Let's break it down in simple terms, so even if you're new to this, you can follow along.
First off, Fluid has teamed up with Jupiter Lend on Solana, and the results are impressive. In just 21 days, they've pulled in a whopping $1.2 billion in TVL—that's Total Value Locked, which basically means the amount of assets users have deposited into the protocol. Now, you can use $JUP tokens as collateral to borrow USDC, a stablecoin pegged to the US dollar. This adds real utility and attracts more users looking for lending and borrowing options.
With tons of money expected to flow into Solana thanks to DATs (Decentralized Autonomous Trusts, which are like stock-like products on the blockchain), Fluid is in a prime spot to benefit. These DATs make it easier for traditional investors to dip their toes into crypto without the usual hassles.
On the revenue side, Fluid is killing it. Their earnings are set to surpass incentives, and starting October 1st, they're kicking off buybacks. For the first month, all mainnet revenue—estimated at $1.3 to $1.5 million—will go toward buying back $FLUID tokens. This creates buying pressure that could drive up the price. Plus, they're planning to add revenue from Jupiter Lend and Layer 2 streams to the buyback program.
Fluid isn't just growing; it's leading. They ranked #1 among lending DAOs for 30-day active loan growth at +48%, and they're tops in stablecoin swaps too. Wall Street is even wrapping tokens like $FLUID into DATs, giving traditional investors exposure to this DeFi gem.
Daily DEX volume is hitting around $700 million, and with DEX v2 launching next month, expect even more action. They're also set to launch on Plasma, an Layer 1 blockchain focused on stablecoins with a projected TVL of over $2 billion.
As seen in the partnership announcement above, Fluid's tie-up with Plasma is a big deal, emphasizing capital efficiency for stablecoin DEXes.
We've seen protocols explode this cycle when they nail product-market fit, generate sustainable revenue, and implement buybacks. Fluid seems to check all those boxes, and the market might not have priced this in yet.
Community reactions are positive too. Folks like Ignas from DeFi are bullish on the Plasma partnership, while others note Fluid's undervaluation and potential upside in both Ethereum and Solana ecosystems. Even with a recent 30% pullback from highs, it looks primed for a rebound.
If you're into meme tokens with real utility or just hunting for the next DeFi winner, keep Fluid on your radar. Check out the original thread here for more details. What's your take—bullish on $FLUID?
