A Steady Price in a Bear Market: How & Why

At the moment, the growth of Solana has entered a relatively steady phase, and the TVL of the entire chain hasn't fluctuated much. But there's one project that caught the author's eye.

According to data found on DeFi Llama, Project Larix has experienced tremendous TVL growth recently, making it the fastest growing project on Solana for this week and even for this month.

As you can see from the data above (obtained from DeFi Llama), Larix’s TVL grew by nearly 50% just over the past 7days, and nearly 20% over the past month. Larix’s newly launched boosted rewards system is partially responsible for this amazing achievement.

This new system is the first step in Larix’s DeFi 2.0, it enables users to earn multiple boosted rewards at Larix when supplying and borrowing, this is achieved by using their claimable $Larix to pair LARIX-USDC LP. When you supply and borrow at Larix you will receive incentives in $Larix, users are probably used to claiming it straight away at any time. But with the boosted rewards system, there’s a chance to multiply the APR by using the claimable $Larix to pair LARIX-USDC LP. Users currently have three options, claim the rewards right away, pair LP and staking for 5x boosted rewards, or staking for 10x boosted rewards.

For more details on this, please visit: https://projectlarix.com/

Furthermore, under the influence of an overall bear market, the price of LARIX has had some small scale rises and stabilized recently, which also provides a layer of guarantee for stable mining incentives.

The whole Larix team is constantly working hard and putting max effort into the project, this is also one of the reasons for its rapid growth. The project has managed to support many new assets this month, including weWETH, stSOL, FTT(Wormhole).

Another strong reason behind Larix’s growth is its well known ‘No Borrowing Fees’ policy. Larix is one of the not many platforms on Solana that doesn’t charge a borrow fee, saving its users countless amounts of assets in borrowing fees. With Larix’s monumental progress this month, it has become the platform with the highest supply APR and the lowest borrow APR on Solana.

Larix has passed the SlowMist audit and received investments from 18 institutions, making it one of the safest platforms on Solana. Larix has also managed to remain 'security incidents free' 5 months after launch, once again reassuring its users of the platform's safety. It’s hard to deny, extremely high security is also a vital component in Larix’s success over the past month.

No doubt Larix's progress is a combined effort between the Larix community and the team.