Top DeFi Trends of October 2023: 5 Dominant Categories Overseeing Billions in TVL

Over the past several years, decentralized finance (DeFi) has expanded at an unprecedented rate. As of October 2023, many DeFi categories have established themselves as market leaders, controlling billions of TVL. Here is a quick rundown of the five most exciting subgenres of DeFi right now.

Staking Derivatives with Liquidity

Derivatives with a liquid staking market have emerged as a major force in the DeFi industry. These tokens provide liquidity to stakers since they are backed by assets in various blockchain networks. Since Proof-of-Stake (PoS) blockchains are becoming more popular, users need a way to stake their coins while still being able to trade them easily.

Distributed Trading Platforms (DEXs)

DEXs are a game-changer for the cryptocurrency market. DEXs provide a safer and more open trading environment because they cut out the middleman. The rising number of DEXs and the volume of trades they facilitate are both signs of rising interest among cryptocurrency investors.

Infrastructure for Financial Transactions

By removing the need for intermediaries like banks, DeFi lending and borrowing platforms have made finance more accessible to the general public. The value of TVL on these exchanges has increased as more and more people are drawn to the attractive interest rates and the opportunity to leverage their cryptocurrency holdings.

Protocols for High-Yield Farming

The term “yield farming,” which also refers to “liquidity mining,” has grown popular in the DeFi industry. In exchange for benefits, typically in the form of governance tokens, users inject liquidity into protocols. High-yield opportunities on these platforms have attracted more users.

Systems for Managing Assets

Asset management tools have evolved in response to the increasing complexity of the DeFi ecosystem, with the aim of assisting users in making the most of their financial holdings. Users can optimize their earnings with minimal input thanks to the platform’s automatic tactics.


The October 2023 DeFi landscape demonstrates the progress and possibilities of the decentralized financial system. These leading classifications show where users and investors are finding the most value as the industry develops further. The future of DeFi is bright, and it will be thrilling to watch these genres grow over the next few years as they amass billions in TVL.


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