Exploring The Most Efficient DeFi Protocol | Aditya Gite | ETHMumbai 2026

I'm Adita and I'm representing Fluid. Uh Fluid is the most advanced and uh efficient D5 protocol out there. U let me start with a number and that is h okay I don't know why it's not working. Okay. Yeah.

So let me start off with a number and that is $4.8 billion. That's that is the TVL that we currently um kind of secure across multiple chains which include protocols that we kind of provide technical backing for such as Fluid, Jupiter Land and Venus Flux. More about that later. Yep.

So became the third largest lending protocol um on Ethereum and one of the fastest growing in DeFi within just one and a half year of its launch. Currently, it's like the second second biggest one in monthly active users across all the lending protocols. As you can see, um we currently have around 129.8K uh 129.8K monthly active users.

Next up, um you might be knowing about unis swap, but do you know who is number two? That's us. So we are the number two decks on Ethereum and uh competing pretty hard with unis swap but like we'll soon be there at number one with the launch of our new protocol which is Dex V2. I'll just share a bit about it by the end of the end of the talk. Yep.

Apart from that we were also the fastest decks on Ethereum to reach hundred billion dollar in cumulative volume. Messari has actually put up a comprehensive report about it and you can just go over and check it out. Yep. Thanks to our domination on the stable swaps. So we are the best protocol currently out there which uh dominate the stable swaps not just on USDC USDT gh those kind of pairs but also on correlated pairs such as WST ETH or CBTC WBTC and at a peaks we basically did like 1 billion plus daily volumes regularly and also crossed unis swap with like $3 billion of daily volume for quite a while.

Yep. Apart from that um about talking about the revenue fluid basically generates up to like the highest revenue across all the lending protocols per $100 worth of TVL and also has one of the highest also has one of the highest utilization percentages and which is 53.62% and which is nowhere like no protocol is super close to it. Yep. So all in all we basically have secured over5 billion plus dollar in total market size.

We are the top three lending markets, number two decks on Ethereum with volume and fees. We are number three across all chains and also the fastest DEX to reach hundred billion dollars u with 15 million plus dollars in annualized revenue and number one on stable swaps as I mentioned apart from USDC USDT we also um dominate on all the correlated pairs such as yeah CBTC WBTC or you pick any of those. So you might be wondering all these milestones that we have reached just within two years what what exactly is fluid. So the GIF that you see here basically tells you a brief idea gives you a brief idea about the architecture but I'll just delve deeper into it. What we are striving to achieve is to become the financial layer of the future.

So u anything finance happening on u on chain or like basically whatever finance people will be doing on um in the future will be happening on fluid that's the aim of us. So, so what we have done for that is that at the base we have a unified liquidity layer which basically is ever expanding and on top you can build multiple protocols. So currently we have lending protocol which basically is nothing but a deposit and earn kind of proto deposit and earn kind of protocol which just you you can just go over and deposit your assets and earn long-term yields. Apart from that we have vault protocol which is like sing CDP kind of position where basically you have a single collateral and single debt. But what where we have innovated is the liquidation mechanism.

So we actually have a branchbased liquidation mechanism which is one of the most innovative ones which allows us to have LTVs as high as 95% on ETH and we also have super low liquidation penalties which is lowest across all of DI as low as 0.1%. Next up is the DEX protocol which basically is um can you yeah the DEX protocol is nothing but like normal DEX but we already supply the liquidity in a concentrated manner at the back end hand inhand with vault protocol. Dex protocol allows and um enables features such as smart collateral and smart debt. So basically what these do is like currently you you might be knowing like collateral earns a supply APR debt you have to pay a certain borrow APR but with um with DEX protocol and hand inhand with W protocol using smart collateral and smart debt you additionally earn a trading fee which basically acts as a bonus on top of the supply APR and for the borrow APR it offsets it so much so that sometimes you might get paid to uh borrow assets.

Apart from that we are currently in R&D phase and are working on RWAS, permissionless markets and fixed rate markets. Duplend which is again another protocol u which has the text of fluid at the base. It's again the largest uh it it is the largest protocol the second largest protocol in Solana and h and has around 1.89 billion worth of uh 1.8 bill 89 billion worth of total supply as of now.

So as you can see here we are just close to Camino and u we are seeing a very nice and steep uh upward movement of the TVL and soon to overtake Camino. Yeah. Next up we have Venus Flux. So basically uh Venus Flux is again a protocol on BNB chain which just launched like a couple of weeks ago and we are already at around $300 million worth of uh TVL in it and uh again powered by the same fluid stack. What's ahead?

We are actually striving to become um we are actually striving to scale up to 10 plus billion in TVL and 30 plus million in ARR. How we are going to achieve that is with these things. DEX V2 DEX V2 is the novel and upgraded version of DEX V1 which which basically allows you to not just supply single collateral or single debt. Now you can have multiple collaterals and multiple debts and each of these debt can be an LP uh range order. So just imagine on unis swap whenever you you might have supplied as a uni uh you on unis swap you might have supplied an lp concentrated liquidity just imagine you can use that as a collateral or borrow that as a debt that's what we'll enable with dex v2 next up we have USD light wault so USD light walt is nothing but somewhat similar to instaep light or fluid light you might know so it's u oneclick deposit kind of thing so for the USD light wault which is going out as soon as today or tomorrow we We're going to allow users to deposit USDC and at the back end we'll manage the risk and run looping strategies with um yield bearing stable coins against the normal stable coins.

And as I already mentioned we we are working on fixed rate markets per rwas and trying to institutionalize fluid and make it the financial layer of the future. That's it. That's been my time and I'm Adita Gita. I'm the product lead at Fluid and uh you can feel free to reach out to me on Telegram and Twitter and that's it. See you around and stay fluid.

That's it. Thank you.