BlockBeats news, on March 28, U.S. Senator Cynthia Lummis stated that the latest revisions to the CLARITY Act will provide protection for DeFi and developers, and countered the concerns raised by cryptocurrency lawyer Jake Chervinsky regarding non-custodial developers potentially being classified as money transmitters and bearing KYC obligations, claiming that the relevant provisions have been adjusted during bipartisan negotiations. The bill is expected to enter the Senate Banking Committee review phase in April.

U.S. Senator Cynthia Lummis stated that the latest revision of the CLARITY Act will provide important protections for DeFi and developers, urging for the bill to be passed as soon as possible. Although adjustments were made to the terms to avoid misclassifying non-custodial developers as financial institutions, there are still disagreements within the industry regarding stablecoin yields and developer protections. The bill is expected to enter the review stage in April.

BlockBeats news, on March 27, Circle announced that USDC and CCTP will soon be launched on the Pharos Network. The world's largest regulated stablecoin and secure cross-chain settlement infrastructure will be integrated into Pharos. Pharos is built specifically for applications such as tokenized RWA, institutional-standard DeFi, and stablecoin payments.

Since the launch of the Flare Network's XRP DeFi ecosystem six months ago, new user growth has fallen far below expectations, with an average of only 76 new users per day. The native token FLR has seen a significant price drop since the airdrop in 2023, leading to stagnation in ecosystem development, with major challenges in user expansion and asset locking.

Cardano's ecosystem has made progress, with Midnight reaching an agreement with the UK bank Monument to tokenize £250 million in deposits on-chain. This marks a new step in the integration of traditional finance and blockchain, while also promoting the development of tokenized assets. However, Cardano still faces challenges in the DeFi space, and the ecosystem's activity level needs to be improved.

Aave has proposed a governance proposal to allocate 100% of all product revenue to the DAO, attracting market attention. This proposal emphasizes the value distribution of "protocol as community" and commits to future development centered around the Aave ecosystem, while introducing a quarterly reporting mechanism to enhance transparency. If approved by voting, Aave could become a DeFi protocol with prominent community-driven characteristics.

Research from the European Central Bank shows that governance power in DeFi protocols is highly concentrated, with the top 100 token holders controlling over 80% of the token supply, and the top 5 addresses of Aave and Uniswap holding nearly 50%. A large number of governance tokens are held by protocols and exchanges, and the anonymity of identities challenges claims of decentralization, impacting regulatory compliance.

The RWA DeFi protocol Felix in the Hyperliquid ecosystem has launched tokenized stock and ETF trading, partnering with OndoFinance. It supports over 250 assets and offers low-cost 24/7 trading services.

According to data from DefiLlama, approximately 97.6% of DeFi projects have failed to generate significant revenue, and income is highly concentrated. In the past 30 days, only 32 projects have earned over $2 million, with main revenue coming from stablecoin issuers and trading platforms, with Tether and Circle earning $490 million and $201 million respectively. Only a few protocols have revenue between $10 million and $50 million, while some projects are experiencing losses.