Meme Fades, DeFi Revival: Which Upcoming Projects Are Worth Keeping an Eye on for a Possible TGE?
Original Article Title: FILTER YOUR DEFI WATCHLIST FOR 2025
Original Article Author: DeFi Warhol, Cryptocurrency Project Researcher
Original Article Translation: ChatGPT
Editor's Note: The author believes that there may be some DeFi project TGEs in 2025. Despite TVL not surpassing the 2021 high, transaction volume has hit record highs, demonstrating growing user interest. This article recommends some high-quality pre-TGE projects like Infinex, Babylon, Lombard, etc., which have shown outstanding performance in innovation and team strength and are worth watching.
The following is the original content (slightly reorganized for better readability):
There may be a large number of TGEs this year, and here are some high-quality pre-TGE DeFi projects worth adding to your watchlist.
While some views suggest that DeFi has already surpassed the previous all-time high TVL in 2021, in reality, it has not yet exceeded the 2021 peak. Currently, our TVL stands at $138 billion (compared to $178 billion in 2021).

However, we have set some new records. Following the launch of the $TRUMP token on January 18, 2025, we hit a new daily trading volume record of $48 billion. In comparison to TVL, transaction volume may be a better indicator, reflecting capital and user interest and retention.
In addition, according to @KaitoAI's data, DeFi's mindshare has been steadily increasing in 2025.

I believe that 2025 will be the year we return to fundamentals, as the meme coin frenzy has ended. It is crucial to track the hottest DeFi projects. I will focus on introducing each team member in the projects, as they will share updates and insights on new products and features.
Next is the recommended list:
@infinex_app
Infinex is a DeFi trading platform that offers a CEX-like experience but with non-custodial accounts. It is fully abstracted to achieve seamless on-chain transactions.
Team:
@kaiynne
@JedWatson
@infinex_intern
@stableshaman

@babylonlabs_io
Babylon is a Bitcoin staking protocol that brings Bitcoin's security and liquidity to Web3 projects. Babylon aims to be a hub for dApps and collaboration.
Team:
@dntse
@baby_fisherman

@Lombard_Finance
Lombard is a DeFi protocol that allows users to borrow against Bitcoin and crypto assets as collateral while earning returns through optimized DeFi strategies.
Team:
@Maksym_Web3
@GeorgePBeall
@KevSilk
@JacobPPhillips

@ParticleNtwrk
Particle is a modular blockchain infrastructure project focusing on all three abstraction layers. It simplifies Web3 usage by making Web3 more user-friendly and intuitive.
Team:
@TABASCOweb3
@jetjet_8
@ParticleIntern
@0xpengyu
@0xpeterpan_

@symbioticfi
Symbiotic is a decentralized rehypothecation protocol that allows users to rehypothecate assets (including Bitcoin) to earn additional yield across multiple networks. It focuses on shared security within the DeFi and sovereign blockchain ecosystems.
Team:
@FelixLts
@pseudotheos
@Psalom
@JstarCS

@KelpDAO
Kelp is a deep liquidity protocol that supports liquidity mining for Ethereum and other assets. It integrates with EigenLayer to allow users to earn additional rewards while providing liquidity.
Team:
@GAmitej
@galacticminter

@hotdao_
The HOT protocol is a decentralized multi-party computation (MPC) wallet validator network. It aims to provide seamless Web3 access, cross-chain transactions, and gas fee coverage.
Team:
@p_volnov
@Nikitadigital10

@MeteoraAG
Meteora is a Solana-based DeFi project that offers dynamic liquidity solutions, including DLMM, lending yields, and automated treasuries.
Team:
@hellochow
@0x_Malc
@0xmiir

@opensea
OpenSea is one of the world's largest NFT marketplaces, allowing users to buy and sell NFTs on platforms such as Ethereum, Polygon, and others.
Team:
@dfinzer
@NadavAHollander
@OliverMaroney
@adamilenich

@polymarket
Polymarket is a decentralized prediction market platform where users can trade based on the outcomes of real-world events.
Team:
@shayne_coplan
@HugoMartingale
@williamlegate
@2irl4u

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