Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights — a newsletter crafted to bring you some of the major developments over the last week.

This past week, the DeFi ecosystem saw several new developments related to the DeFi lending crisis as Celsius filed for bankruptcy. At a time when bears are more dominant in the current market, DeFi protocols with a revenue system can thrive.

Lido Finance has announced plans to offer its Ether (ETH) staking services across the entire L2 system. Aave plans to leverage Pocket’s distributed network of 44,000 nodes to access on-chain data from various blockchains, and gamers are plugging in DeFi through the Razer reward partnership.

The majority of the top 100 DeFi tokens traded in green, with many registering double-digit gains over the past week.

DeFi downturn deepens, but protocols with revenue and fee sharing could thrive

As the crypto winter drags on, savvy crypto investors have realized that one of the reliable sources of passive income that still exists can be found in protocols that generate revenue and share some of it with their respective communities.

Data from Token Terminal shows revenue positive platforms are primarily the nonfungible token (NFT) marketplaces like LooksRare and OpenSea.

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Ethereum staking service Lido announces layer-2 expansion

In a Monday blog post, the Lido team noted that it would initially begin by supporting Ether staking via bridges to L2s using wrapped stETH (wstETH). Moving forward, it will eventually enable users to stake directly on the L2s…

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