Lido's TVL surged by 67% to $35.5 billion, solidifying its position as the largest application by TVL in crypto. This quarter also saw Lido's market cap increase by 300%. Lido's record revenue of $28 million in Q1 2024 was 46% higher than in the previous quarter. Despite rising expenses, Lido significantly reduced its net profit loss, demonstrating greater operational efficiency and a strengthened revenue stream.

QiDao (QI) is a decentralized finance (DeFi) protocol that was originally launched on Polygon. It enables users to borrow stablecoins against their cryptocurrency holdings without selling them. The protocol's native stablecoin, MAI, is pegged to the value of the U.S. dollar (USD) and is minted by depositing supported collateral in smart contracts. QiDao operates on a multichain framework, supporting various networks to broaden its accessibility and utility.

Sei experienced a spike in activity and network revenue across December and January, triggered by inscriptions. This activity preceded a large uptrend in SEI’s price, which finished up 37% QoQ at $0.82. This price increase coincided with daily transactions decreasing by 17% to 4 million.

XRP Ledger (XRP) has been running for over a decade, offering cross-currency and cross-border payments, and tokenization, among other features. Core value propositions of the XRP Ledger (XRPL) include fast and cheap transactions (relative to other currency-focused networks) and native functionalities — such as tokens, NFTs, a decentralized exchange (DEX), escrow functionality, embedded compliance, and token management.

Pyth (PYTH) is an oracle network that aims to offer accurate prices for cryptocurrencies, equities, foreign exchange pairs, ETFs, and commodities. Oracle networks aggregate external data and make it available for onchain application use.

Nym (NYM) is an open-source, incentivized, and decentralized DePIN protocol that protects privacy at the network level of any application, wallet, or digital service. As a mixnet, Nym protects against traffic pattern analysis and metadata surveillance. Nym exists as a tool to facilitate private internet communication between any application, such as a VPN. As such, it is not exclusive to blockchain-related activities. However, the Nym mixnet is closely linked to the NYM token and the Nyx blockchain, which Nym uses as its Cosmos-based appchain to coordinate the NYM token.

The network collected $228,000 in chain payments after launching them in January. Instead of charging end users via transaction fees, SKALE generates fees by charging developers a subscription fee in SKL for operating a SKALE chain.

Optimism (OP) is a Layer-2 Ethereum scaling protocol. It aims to increase Ethereum’s transaction throughput while decreasing transaction costs via Optimistic Rollups.

Cosmos Hub (ATOM) is an individual appchain focused on interoperability and security. It is a Proof-of-Stake (PoS) sovereign blockchain with an account-based accounting model and no native smart contract functionality. Cosmos Hub pioneered technologies such as Cosmos SDK, CometBFT (Tendermint), ABCI, and IBC, which were later used by many Interchain networks. The Interchain consists of sovereign networks connected by the common interoperability protocol: IBC. The Interchain is also referred to as the Cosmos Ecosystem.

With over $100 billion of assets stored in 8+ million deployed smart accounts, Safe is one of the go-to solutions for smart contract wallets. Previously called Gnosis Safe, Safe aims to create the standard for ownership with smart accounts.