Delphi Digital 2025 DeFi Outlook Summary: From consumer applications to revenue-sharing stablecoins, 8 key trends and noteworthy projects

Author: DeFi Warhol

Compiled by: Deep Wave TechFlow

While everyone was getting into the holiday spirit, I decided to use the time to do some research.

@Delphi_Digital recently released the "DeFi Prospects in 2025" research report, summarizing 8 key trends and recommended projects to focus on:

1. Consumer DeFi (Consumer DeFi)

Although DeFi has developed rapidly in recent years, it has still not fully realized its potential and goal—that is, to completely replace traditional banks, provide services to ordinary users, and guide them into the Web3 world.

Crypto payment cards are revolutionizing DeFi. They combine the functions of self-custody payouts, DeFi earnings, and fiat currency entry and exit, providing users with a more convenient financial experience.

Recommended protocols to pay attention to:

• @coinbase

• @holyheld

• @gnosispay

• @argentHQ

• @MoonwellDeFi

• @Fuse_network

2. Revenue-Sharing Stablecoins

Stablecoins are one of the areas with the greatest revenue-generating potential in the crypto space, but currently the revenue is mainly concentrated in the hands of the issuer.

The core concept of revenue-sharing stablecoins is to allow the applications that distribute them (such as decentralized exchanges, centralized exchanges, wallets, etc.) to also benefit from them, creating a new model - "stablecoin distribution" as a service”.

This stablecoin not only has advantages similar to $USDT (such as composability across applications and network effects), but also provides additional revenue incentives for distributors and attracts more application integrations.

Recommended protocols to pay attention to:

• @withAUSD

• @Paxos

• @m0foundation

3. Fat Wallets

The "fat wallet" theory points out that as blockchain protocols and applications become more streamlined, the development space for two key resources, distribution channels and order flow, will further expand.

As the core front-end for users to interact with the blockchain, the wallet can effectively convert these resources into sources of income.

Recommended protocols to pay attention to:

• @infinex_app

• @OneBalance_io

• @ParticleNtwrk

• @Ctrl_Wallet

4. Decentralized Exchange (DEX) Market Share

While 2024 has seen significant upgrades across multiple subsectors of DeFi, changes in decentralized exchanges (DEX) have been more limited.

It is expected that the trading volume of spot DEX will grow to 20-22% of the spot trading volume of centralized exchanges (CEX) in the future, demonstrating the potential of DeFi.

5. Solver-Based Protocols

DEXs that are deeply integrated with the solver protocol perform better than standard AMMs (Automated Market Makers).

Solver- and searcher-driven DeFi already accounts for a significant share of transaction volume and will continue to expand its influence in the future.

Recommended protocols to pay attention to:

• @SorellaLabs

• @CoWSwap

• @Uniswap

• @ArrakisFinance

• @HyperliquidX

6. Prediction Market

During the 2024 US election, the prediction market performed strongly, with the number of users and transaction volume reaching new highs, but it failed to maintain long-term stability.

Today, these markets are transforming from traditional speculation platforms into innovative financial products and information discovery tools.

Recommended protocols to pay attention to:

• @trylimitless

• @Truemarketsorg

• @Polymarket

7. Starknet Ecosystem Rebound

Starknet's development trajectory is similar to Solana 's early stages. Although Solana's technological progress was overlooked due to negative sentiment, it eventually rebounded strongly.

Starknet faces a similar situation: its promising technology has been undervalued due to controversy, but is gradually making its way into the mainstream market.