Came across an interesting insight while listening to a podcast yesterday 🔍 If we compare DEX volume to borrowing volume across chains (powered by @DefiLlama), we see a stark contrast: On Ethereum, DEX volume is $4B, while borrowing volume is $33B On Solana, DEX volume is $2B, while borrowing volume is just $1.95B This suggests a fundamental difference in user behavior between the two ecosystems: Ethereum Users • Have been through multiple crypto cycles • Tend to hold assets long-term • Are more inclined to engage in DeFi lending and borrowing • See DeFi as a place for yield and capital efficiency Solana Users • Many entered the crypto space during the last cycle • Prefer short-term trading and arbitrage strategies • Show higher activity on DEXs rather than lending platforms • Are more focused on liquidity and fast-moving opportunities So probably for Solana DeFi, there is still tremendous room for growth in the future 🫡