The Solana DeFi ecosystem is buzzing with exciting developments, as highlighted in a recent X thread by Jussy on April 12, 2025. From Loopscale exiting beta to Zeus Network’s $zBTC quests and Kamino Finance’s impressive 46% APY, there’s a lot to unpack. Let’s break down these updates and see what they mean for DeFi enthusiasts.

Loopscale: A New Era of Lending and Borrowing on Solana

Loopscale has officially launched, moving out of its beta phase on April 10, 2025, and opening its doors to all users. Unlike traditional DeFi lending platforms that use pooled liquidity, Loopscale employs an order book model. This directly matches lenders and borrowers, allowing for more efficient price discovery and reducing systemic risks. You can now lend or borrow assets, deposit into vaults, or engage in loop strategies with liquid staking tokens (LSTs) and perpetual futures liquidity pools (Perps LPs).

Currently, Loopscale offers competitive annual percentage yields (APYs) on stablecoins: 8% on USDT, 10% on USDS, and 9% on PYUSD. The platform also supports a wide range of collateral, including LP tokens, staked assets, and even memecoins, giving users flexibility in their strategies. For example, you can create a lending position with USDS, set a 3% rate, and wait for a borrower to accept at a 10% APY.

Loopscale’s airdrop potential is another highlight. Backed by heavyweights like CoinFund, Solana Ventures, and Coinbase Ventures, the platform rewards users with points for activities like lending or borrowing. These points could lead to a juicy airdrop—check the Points tab on their website to maximize your rewards.

Zeus Network: Swap $SOL for $zBTC and Earn $ZEUS Rewards

Zeus Network is bridging Bitcoin to Solana, and their latest quest is a golden opportunity for users. By swapping just 1 $SOL for $zBTC via Solflare Wallet, you can participate in their final $ZEUS token reward quest. $zBTC is a tokenized version of Bitcoin on Solana, designed to maximize on-chain yield through Zeus Network’s infrastructure, including their APOLLO protocol.

The quest involves two raffles—Raffle A and Raffle B—along with social tasks on Galxe. Completing these tasks enters you into a draw for a share of 50,000 $ZEUS tokens. It’s a straightforward way to get involved in Solana’s multi-chain ecosystem while potentially earning rewards. Zeus Network’s focus on seamless Bitcoin integration makes it a standout in the DeFi space.

Kamino Finance: 46% APY and 7.5x Leverage with Multiply

Kamino Finance is turning heads with its latest update to the Multiply feature, now offering up to 7.5x leverage—up from the previous 5x. This means you can amplify your exposure to yield-bearing assets like LSTs, with some reaching an impressive 46% APY. For context, LSTs are tokens that represent staked assets, such as JitoSOL or bSOL, which earn staking rewards while remaining liquid for use in DeFi.

The average APY across Kamino’s LSTs is around 25%, and over the past 180 days, the borrow rate has consistently been lower than the LST yields, ensuring profitability even with leverage. If you’re a $zBTC holder, you can earn a steady 5% APY by providing liquidity in the cbBTC-zBTC pool. This pool is considered low-risk because both assets are pegged 1:1 to Bitcoin, meaning their prices should stay highly correlated, reducing volatility compared to a SOL-based pair.

You can explore these opportunities on Kamino Finance’s platform, but be mindful of risks like liquidation if borrow rates exceed staking yields for an extended period or if there’s a smart contract exploit.

Why These Updates Matter for Solana DeFi

Solana’s DeFi ecosystem is rapidly evolving, and platforms like Loopscale, Zeus Network, and Kamino Finance are pushing the boundaries of what’s possible. Loopscale’s order book model introduces a new standard for lending efficiency, Zeus Network bridges Bitcoin to Solana for enhanced liquidity, and Kamino Finance offers high-yield opportunities with manageable risks. Together, they showcase Solana’s potential as a hub for internet-native financial markets.

If you’re looking to dive in, Jussy’s thread provides a solid starting point. Whether you’re farming points on Loopscale, swapping for $zBTC on Zeus Network, or leveraging LSTs on Kamino, there’s something for every DeFi user. Got questions? Jussy’s open to DMs for guidance—don’t miss out on these opportunities!