Delegated staking on Solana is ~7% APR. And if you add liquidity on Raydium, with Solana/USDC pair for example, you can get 39% right now... And if you want to do some farming, the RAY-SOL pair give you 51%. I'm actually in the fusion pool of Aleph-USDC, which right now gives me 196% APR... I would have done STEP-USDC, but STEP has been crashing like crazy, even worse than the overall market, so, I chose Aleph instead.
And considering how good Serum and its features are (and DeFi in general), there's zero reason to keep your Solana on centralized exchanges, especially because withdrawal fees are miniscule everywhere, and Solana transactions fees are so cheap.
Solana has so much going for it, it's not even funny. It's basically like Polygon for Ethereum, but natively on the 1st layer. But I guess people haven't really found that out yet. That's good for me; It means I'm early.
Go take a look for yourselves;
An avenue for the evolution of DeFi
raydium.io
The main drawback is that certain great websites are restricted in the US because of US regulations... Like Bonfida, which actually has a decentralized trading bot of all things;
Bonfidat Bot - Automate your trading strategies onchain
bots.bonfida.org
And a DEX with TradingView integration;
Just a simple swap; exchange tokens efficiently for the best-priced options available
dex.bonfida.org
Solana has pretty much everything already... And Cardano still needs to roll out its smart contract functionality, which is just around the corner, but, objectively, Solana is a more complete ecosystem at this moment, and likely still will be, even after Cardano rolls out its smart contracts.