Dune Research Finds 85% of Concentrated DeFi Liquidity Underutilized, $150M in Annual Fees Foregone

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According to research by onchain analytics platform Dune commissioned by 1inch, 85% of concentrated liquidity across decentralized exchanges is not efficiently deployed, resulting in roughly $150 million in foregone annual fees. The study analyzed liquidity positions across the top 200 pools on Uniswap v3, Uniswap v4, PancakeSwap v3, and Aerodrome Slipstream between January 6 and June 30, covering approximately $1.84 billion in weekly average liquidity. The research found that 29.5% of tracked capital sat out of range—where positions earn no fees—while an additional 56.9% remained in range but received no trades during each week. "Due to structural inefficiencies in DeFi, liquidity providers are leaving billions of dollars in underutilized capital," said Sergej Kunz, 1inch co-founder. Kunz noted that 1inch is preparing to launch Aqua, a shared liquidity product designed to address the problem.
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