II. Market Forecast and Competitive Analysis

1. Market Size and Growth Rate

Sub-Sector	2024 TVL ($B)	2025 Projected TVL ($B)	CAGR
Liquid Staking	52.9	72.0	36%
Restaking (LRT)	14.2	32.0	125%
Synthetic Assets	7.8	15.0	92%
Lending	21.0	28.0	33%

Data Source: DeFiLlama, Binance Semi-Annual Report.

2. User Growth and Penetration

• DeFi User Base: 8.9M monthly users in 2024 (4.9M in 2023), penetration rate of 3.9%.

• LiquiSynth Target Users:

  • Institutional Investors (40%): Prefer low-risk staking yields (APY 8%-12%).

  • Retail Users (60%): Seek leveraged synthetic asset yields (APY 15%-25%).

3. Competitive Landscape (TVL Distribution)

Protocol	Liquid Staking Share	Restaking Share	Synthetic Assets Share
LiquiSynth (Projected)	15%	25%	40%
EigenLayer	-	85%	-
Lido	62%	-	-
MakerDAO	-	-	35%