NX Finance, a Solana-based yield aggregator, experiences a significant increase in total value locked (TVL) over the past month, jumping by an impressive 2,500% to reach $9 million.
In the rapidly evolving world of decentralised finance (DeFi) on Solana, NX Finance stands out as a trailblazer, leveraging artificial intelligence (AI) to optimise yield farming and liquidity routing across multiple blockchains.
NX Finance, the fastest-growing DeFi app on Solana, focuses on real-time detection of fresh liquidity pools on Solana. Using intelligent filtering based on TVL (Total Value Locked) and volume, it identifies high-potential investment opportunities before market trends react, enabling automated alpha discovery and efficient capital deployment. This forward-thinking approach positions NX Finance as a sophisticated, multichain yield aggregator actively contributing to Solana's DeFi ecosystem growth.
The platform's innovative strategies extend to its use of AI-driven yield farming and leveraged strategies, such as the Fulcrum Strategy, which provides up to 5x leverage on the Jupiter Perpetual Exchange (JUP). JUP, another thriving dapp on Solana, currently boasts a record TVL of $613 million, more than doubling since the beginning of May.
NX Finance's AI-powered approach is part of a broader trend in the DeFi industry, with an increasing number of platforms integrating advanced algorithms to improve users' returns and trading efficiency. By focusing on real-time analytics and cross-chain capabilities (Solana, Sui, EVM chains), NX Finance supports higher TVL by attracting yield farmers seeking optimised and timely opportunities within Solana’s ecosystem and beyond.
While exact TVL figures specific to NX Finance on Solana are not readily available, its AI-driven yield farming strategies and liquidity routing imply its positive influence on Solana’s TVL by increasing capital efficiency and user engagement in yield aggregation. Given the general growth of Solana DeFi projects and increased interest in AI integration, NX Finance likely contributes to boosting Solana's overall TVL via enhanced liquidity utilization and farm entry timing.
Notably, NX Finance's TVL surged to a record $1.1 million worth of tokens on July 31, and its yield farming platform, NX Finance, has seen significant growth. Initially valued at $300,000 at the beginning of July, it has since skyrocketed to $9.03 million. The platform launched its 'Point Nadventure' on July 1, offering users the opportunity to earn points through actions like liquidity provision and referrals. Users can deposit USDC, USDT, SOL, or JLP on NX Finance and target generous returns.
USDC and USDT account for the largest share of NX's deposited value, with a TVL of $3.7 million and $1.5 million, respectively. USD inflows first broke above the $150,000 mark on July 2, signalling a surge in user interest and engagement.
In summary, NX Finance’s AI-powered, multichain yield aggregation approach represents a significant development on Solana, driving yield optimization and potentially augmenting Solana blockchain’s TVL by attracting and effectively deploying liquidity within its DeFi markets. As Solana's TVL has more than tripled since the start of the year, reaching a high of $5.6 billion on July 29, the impact of NX Finance and other innovative DeFi platforms on the Solana ecosystem is undeniable.
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