- What is DefiLlama?
- The Goal Was to Make Data Accessible to Anyone
- What Makes DefiLlama So Good?
- How to use DefiLlama?
- Contributing to a Better DeFi
What is DefiLlama?
One of the biggest TVL aggregator for DeFi, DefiLlama prioritizes precise data and open methodology. Its fully open-source platform is maintained by a group of individuals and contributors where data and insights about decentralized finance (DeFi) can be found completely for free. Thousands of protocols, such as lending platforms, NFT marketplaces, and decentralized exchanges (DEXs), are tracked by this TVL (total value locked) aggregator on major blockchains. Users can access DefiLlama's data through tables, graphs, and charts without having to register or link a cryptocurrency wallet.
DefiLlama helps a lot in understanding DeFi and the market by giving information on projects, including deposits, fees, revenue, and transaction volume. Also, it provides an easy way for users to find new crypto projects.
Additionally, DefiLlama is part of Llama Corp, a company with over 10 million monthly users that is developing blockchain data analytics, infrastructure, payments, cross-chain, and media solutions.
The Goal Was to Make Data Accessible to Anyone
Although Ethereum was the first blockchain on which decentralized applications (dApps) were created, the emergence of new blockchains that seek to rival or supplement Ethereum has caused the DeFi market to grow more. As a result, monitoring DeFi activity on multiple platforms has become more difficult and this is where DeFiLlama has made the change. For example, comparing the total value locked (TVL) of different DeFi protocols in smart contracts using the DeFi aggregator DefiLlama is one technique for measuring how widely used they are.
What Makes DefiLlama So Good?
DefiLlama's analytics dashboards display updated information about the TVL, revenue, fees, volumes and more of all known DeFi protocols on Layer 1 and Layer 2 blockchains which compile data from various sources. Its key features include:
Comprehensive Analytics: Data is available on a variety of DeFi projects, such as yield farming initiatives, lending platforms, and decentralized exchanges (DEXs). Information on stablecoin market capitalization, trading volumes, liquidity pools, and token prices is easily available to users, who can also filter the data by category or blockchain.
User Interface: Thanks to its intuitive interface, through data navigation and project comparison, users can gain the insights necessary to make better decisions.
Portfolio Tracking: Users can track their DeFi portfolios by connecting their wallets to DefiLlama and keep an eye on their assets' performance.
Historical Data: The website offers historical data in addition to real-time data, enabling users to identify trends.
Community Engagement: DefiLlama adopts a collaborative approach, with its vibrant user and developer community actively contributing to the platform's development to guarantee that its content is continuously updated and relevant.
How to use DefiLlama?
The DeFi market is summarized in an easy-to-use dashboard on the DefiLlama website. The search bar can be used to compare blockchains and yields, find specific DeFi projects or tokens, and more. In addition, there are sections on governance, NFTs, pools, yields, and bridges. To view projects in a particular sector, you can navigate to that category.
You can also click on the name to view specific project details. Every project page has information such as TVL, Market cap, Amount staked, Amount borrowed, Staking, Fees, Revenue, Governance, Treasury and Total raised.
Contributing to a Better DeFi
DeFi Llama is an invaluable tool that offers information and analysis to assist users in navigating the complex and ever-changing DeFi environment. Platforms like DeFi Llama can encourage openness, reduce risks, and help users comprehend the capabilities and performance of the available apps and services as DeFi expands.
