DeFiLlama: A Tool for DeFi Data Analysis

DeFiLlama, as a powerful Decentralized Finance data analysis tool, provides comprehensive features to help users gain insights into the DeFi ecosystem. This article will delve into the various functions of DeFiLlama and how to use this data to discover potential investment opportunities.

Decentralized Finance Overview

DeFiLlama provides the overall TVL data of the DeFi ecosystem, as well as a list of protocols ranked by TVL. Users can view the rankings by public chain to understand the DeFi development situation of each public chain.

It is worth noting that Lido has become the top protocol in terms of TVL after the ETH merge, with 99.2% of its TVL coming from ETH. This reflects the dominant position of ETH in Decentralized Finance.

Public Chain Data

DeFiLlama ranks various public chains based on TVL, number of protocols, changes, and number of stablecoins. Users can filter by categories such as EVM, non-EVM, Rollup, Cosmos, and Parachain.

Paying attention to the changes in TVL over 7 days/1 month may reveal new on-chain projects. Decentralized Finance and stablecoins, as the ecological infrastructure, can be observed from this perspective to assess the development of public chains.

Unlaunched Token Projects

DeFiLlama sorts unlaunched DeFi protocols by fundraising time. This can help identify potential airdrop opportunities, but it is recommended to consider the project's launch time comprehensively.

Project Treasury

You can view the total amount of each protocol's treasury and the composition of tokens. The size of the treasury does not necessarily equal the speed of development, but a large amount of its own tokens may indicate a small market circulation or that the DAO could become the largest seller. The risks brought to the treasury by non-stablecoins are also worth paying attention to.

Oracle Data

Sort various oracle services through TVS(Total Value Secured). Chainlink is undoubtedly the king in this field, but the data ambiguity is high and does not equal the actual number of services provided.

Fork Projects

You can view the most copied protocols. The ones that are frequently forked are mostly leading projects, which are worth studying in depth. Developers can also discover new opportunities from them.

Top Projects on Each Chain

Showcase the leading projects in various subfields such as Liquid Staking, CDP, DEX, and lending across public chains. The leaders of major public chain ecosystems are multi-chain, while the leaders of smaller ecosystems are also seeking larger markets. Public chains that lack certain services may have new opportunities.

Project Comparison

Supports selecting multiple protocols to compare TVL on a timeline. Suitable for comparing projects in the same track, such as LSD. This feature can also be extended to compare metrics such as revenue, user count, FDV, etc.

Token Usage

Check the usage of a certain token in Decentralized Finance. The data is sourced from on-chain but is not comprehensive, only showing projects listed by DeFiLlama. Interestingly, 3.49 billion USDT exists in JUSTLEND, and its use is worth exploring.

Decentralized Finance 分类

DeFiLlama categorizes DeFi projects into 31 categories. Among them, the categories with fewer protocols include privacy, oracle, leveraged farming, unsecured lending, exotic options, and RWA lending, which may contain opportunities.

New Projects

Show the projects recently included by DeFiLlama. Please note that "recently" refers to the inclusion time rather than the mainnet launch time, which may have a certain lag.

Programming Language Analysis

Show the proportion of different programming languages in Decentralized Finance, as well as a comparison of languages sorted by TVL. It also includes the ratio of open source/non-open source protocols in the Solana ecosystem. For more detailed developer data, you can refer to the report by Electric Capital.

Yield Analysis

DeFiLlama provides comprehensive yield analysis features:

1. Liquidity Pool Ranking: Ranked by TVL, covering 5327 pools across 275 protocols on 59 chains.
2. Delta Neutral Strategy: Automatically select strategies and calculate overall returns.
3. Long and Short Strategy: Combine CEX perpetual contracts and Decentralized Finance yield to calculate delta-neutral strategy returns.
4. Leverage Lending: Compare the Loop APY, Supply APY, and LTV metrics of different projects.
5. Lending Ranking: Sorted based on returns, LTV, supply and demand conditions, etc.
6. Earnings Overview: Visual display of the median APY and distribution of a single cryptocurrency.
7. Stablecoin Pool: Displays the TVL and APY composition of each stablecoin pool.
8. Halal Pool: Tracking relatively simple and safe pools.

Trading Aggregator

DeFiLlama's Meta-Aggregator provides optimal trading paths by aggregating multiple DEX aggregators. Users can complete transactions directly on the platform or view the routing to the corresponding aggregator to find discounts.

Lending Aggregator

Input collateral and loan tokens, this tool will calculate the costs of all lending protocols, taking into account incentives, supply APR, and borrowing APR, providing the optimal lending solution.

Transparency of Centralized Exchanges

Show the asset inflow and outflow situation of major centralized exchanges. It is worth noting the exchanges with net inflow during the bear market. Currently, OKX has a net inflow of $240 million in the past month, while Binance has a net outflow of $2.07 billion. Approximately $1.5 billion in assets may have flowed onto the blockchain.

Settlement Data

Show the total liquidation amounts of each chain and protocol, as well as the liquidation situation when the price drops by 20%. You can also view the liquidation prices of the 100 largest positions, with the highest liquidation price for ETH/USD being $1088.

Trading Volume Analysis

Including DEX daily/weekly/monthly trading volume rankings, trading volume and market share across chains, as well as options trading volume data. Currently, Lyra occupies more than 56% of the options market share.

Income and Expenses

A list of projects ranked by income and expenses. The top 50 project categories by income include: public chains/Rollups, DEX, liquidity staking, derivatives trading, NFT markets/lending, CDP, synthetic assets, and oracle, among others. Interestingly, some projects with market capitalizations in the billions may have annual revenues of only a few million, and most of the earnings are not distributed to token holders.

Financing Data

Display the project financing situation in chronological order, including information such as financing scale, rounds, valuation, and investors. You can also view the most active investment institutions and their investment portfolios within the last 30 days.

Stablecoin Analysis

Show the peg status, deployment status, and changing trends of various stablecoins. Currently, there are 6 stablecoins with a scale exceeding $1 billion, and the positions of USDT and USDC remain unchallenged for the time being. The number of stablecoins recorded by DeFiLlama has reached 97, with the mainstream still being dollar stablecoins, but euro stablecoins are also starting to appear.

Situation of Public Chain Stablecoins

Sort stablecoin projects on public chains by size, displaying information such as the stablecoin project landscape on each chain, the proportion of stablecoins in TVL, and the number of cross-chain bridges.

Security Incident

Record the time, cause, scale, and incident reports of various types of hacking attacks. Most attacks stem from protocol logic vulnerabilities, which are difficult to completely avoid even after auditing. Decentralized insurance may be a potential direction, but preventing teams from self-sabotage remains a significant challenge.

ETH Staking

Show the number of ETH staking projects, LSD status, and data such as APR. Lido is in an absolute leading position, but emerging projects like unshETH are also developing rapidly. Some projects, such as Hord, have an APR as high as 35.11%, making their sustainability worth paying attention to.

Other Tools

DeFiLlama also provides some useful tools:

• Roundup: Organizing various Decentralized Finance related information and news
• Trending Contracts: Query recent contract interaction status
• Token Liquidity: Analyze the liquidity depth between tokens

Other data analysis tools worth paying attention to include: DeFiLlama.

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