Osmosis, dYdX, Synthetix Spearhead DeFi Development Surge, Uniswap Trails Behind
Osmosis has been identified as the DeFi project with the highest level of development activity, contrasting with Uniswap, which has shown slower progress.
Amidst a broader market rebound, several DeFi-related projects appear to be bustling with development activity.
Topping the list is Cosmos-based decentralized exchange Osmosis, which experienced a notable surge in development activity, emerging as the leading DeFi project over the past month.
Osmosis Leads DeFi Development
According to the data shared by Santiment, Osmosis recorded more than 169 GitHub commits within the previous 30 days.
The crypto analytic platform’s latest compilation of “developer activity” was based on aggregating all unique GitHub activity documented in the records of each project and then calculating the average number of these actions to provide a comprehensive overview.
Osmosis underwent a significant rebound in terms of total value locked in November 2023. Data from DeFiLlama revealed that Osmosis surged by over 239% in a span of just four months from $73.43 million to the press time TVL of $245.81 million.
The major part of the increase in activity largely stems from increased interest in airdrop farming on infrastructure associated with Cosmos across the broader digital assets sector, with Osmosis emerging as the worthy DEX on the network.
