A new year, a new month, another brand new set of Token Ratings. Haven’t read it yet? Here’s what you can expect:
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The team’s verdict on SAND, INDEX and FXS π
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Which tokens will be affected by upcoming insider token unlocks? π
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How do we think the Shanghai upgrade will affect the token price π
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And much more.
As always, the first token is available to everyone, but you have to do it Upgrade to Bankless Premium to access the rest.
dear bankless nation,
Public blockchains are transparent and open ecosystems filled with data on user activity. Dozens of data analysis tools and dashboards have sprung up to help savvy builders and investors find alpha.
Today we’re introducing one of the most popular: DeFiLlama. It’s free, widely used by crypto natives, and just keeps getting better. Read on to learn how to get more out of this great tool.
– Bankless team
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π Visit Kraken.com to learn more and start your experience today.
Unbanked Author: William M Peaster
DeFiLlama is an excellent analytics platform to keep up to date on DeFi. In this unbanked tactic, we walk through some of DeFiLlama’s best dashboards and tools so you can learn how to navigate them yourself!
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Goal: Learn the basics of DeFiLlama
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capability: Intermediate
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effort: Less than an hour
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ROI: Reviewing some of the best data in DeFi
A llamas researching DeFi stats output I made using Stable Diffusion!
DeFiLlama is an open and transparent platform for DeFi analysis. It’s known to be biggest Multichain aggregator of Total Value Locked (TVL) stats and other key DeFi metrics.
In other words, whether you want a bird’s-eye view of the current state of DeFi or want to zoom in on activity around a specific app on a specific chain, DeFiLlama has you covered and then some with all the different free tools it offers.
Some real examples of how you can use DeFiLlama’s data dashboards are:
Pretty useful, right? Now that you’ve gotten a taste of what’s possible with DeFiLlama, let’s go through some of the platform’s top resources to give you a feel for navigating the site yourself.
Get an instant picture of the state of DeFi on the DeFiLlama homepage
the DeFiLlama Homepagealso known as the platform DeFi overview dashboard, is great for checking the present or historical status of the DeFi ecosystem and its chains and apps.
As a visitor, you will be presented immediately The current aggregated TVL of DeFi β i.e. the total value of cryptos locked in DeFi projects across the +150 chains that DeFiLlama is tracking β which was ~$45 billion at the time of writing this post.
As you can see in the screenshot above, the chart at the top right of the home page visualizes the change in overall TVL stats over time. On the left is the Change (24h) Metric showing how much the overall TVL has changed over the past day during the dominance The metric shows the current share of the largest DeFi project in the total DeFi market per current TVL.
At the bottom TVL Ranking In the section you can check important information related to specific DeFi apps like theirs category (e.g. liquid staking), their chains (e.g. which EVM they are used on), their TVLand your TVL performance statistics tracked 1 day, 7 daysand 1 minute periods.
All in all, if you want to zoom in on these types of stats, but for a specific chain, say Arbitrum, and not for all multichain DeFi, then you would simply click or click on any of the chain filter tags that appear Other Drop down menu to find a smaller chain. For example, there is the statistics hub only decision looks like:
Arbitrum’s TVL dashboard on DeFiLlama
If you want to check the TVL stats of a specific app, e.g GMXjust click on his name in the TVL Rankings section, which will take you to that project’s bespoke stats and summary page, like so:
The GMX overview page on DeFiLlama
The Pools page in the Yields dashboard
This is DeFiLlama’s homebase for key DeFi yield farming statistics. Especially the Main page Pools is currently pursuing almost 8,000 unique yield farming opportunities over +230 logs and +50 chains.
By default, the pools ops are sorted from largest to smallest TVL, but DeFiLlama offers a number of different filters – from APY to Participating Tokens β if you want to be more specific in your search for continuous yield farms.
Additionally the Yield Dashboard offers other topic pages, including:
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π° Lend β a stats hub for recent borrowing and delivery of APYs via DeFi
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βΏ leveraged lending β a stats hub for leveraged credit APYs in DeFi
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π stablecoin pools – a stats hub for stablecoin-centric yield farming ops
DeFiLlamas DEX volume hub
the Volume Dashboard Here you can get up-to-date volume statistics for DeFi as a whole or for specific projects. The search and filter features are the same as in the previous dashboard, so you can use these to select the areas of DeFi you want to see data for. There is also a made-to-measure option side chains Here you can easily visualize and compare chain-level information.
The chain side
The Fees/Revenues Dashboard
This data hub Here’s a quick way to compare how much fee payment chains and DeFi apps have accrued over 7-day and 30-day timeframes. The dashboard also shows 24-hour revenue statistics, ie the average of the past day’s fee payments returned to token holders and/or a project’s treasury. Want to see if a log is profitable? This is a great place to start!
The stable dashboard
As the name suggests, the Stable Dashboard Here you can always check the pulse of DeFiβs stablecoin sector. The main overview page shows and visualizes the total aggregated market cap of all DeFi stablecoins, which is currently ~$137 billion.
Below in the leaderboard sections, you can track activity flows across different stablecoins or stablecoins tied to a specific chain. There is also a dedicated one side chains if you want to scale up comparison of chain-level data for stablecoins.
The ETH Liquid Staking Dashboard
ETH Liquid Staking Derivatives (LSDs) are all the rage lately ahead of Ethereum’s upcoming network upgrade in Shanghai, which will allow ETH stakers to withdraw their staked ETH.
However, recently DeFiLlama has one LSD dashboard Thus, DeFi users can easily track the LSD activity and growth of the leading derivatives compared to each other.
Specifically, this dashboard shows various LSDs, such as Lido Staked ETH (stETH), and the current market shares of these derivatives, TVLs, Stacked ETH numbers, and ETH peg stats.
DeFiLlama does much more than just release analytics dashboards, as the platform’s creators have also released a variety of tools aimed at making DeFi users’ lives easier. Some of these resources include:
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π CallNodes β a source for public and premium Web3 RPCs
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ποΈ directory β a database to go directly to DeFi websites to avoid Google fraud results
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π£ Sum up β a daily bulletin of DeFi news and crypto events
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π₯ Trendy Contracts β a rolling directory of smart contracts with notable activity uptrends (Ethereum + Polygon currently supported)
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π§ Token Liquidity β a search tool to quickly find the most liquid token pair trading routes on the most popular DeFi chains
DeFiLlama’s token liquidity tool
Finally, one of DeFiLlama’s newest resources is his DEX Meta Aggregator, also known as LlamaSwap. While this service is still in beta, it aggregates other popular DEX aggregators like 1inch, CowSwap, and Matcha to offer traders the best and most efficient routes for their DeFi trading needs. If you’re aiming for the cheapest possible trades, check out this DEX of DEXs.
LlamaSwap allows you to choose from several possible trade routes
In my opinion DeFiLlama is the best analytics platform for DeFi users.
Its free dashboards, only a selection of which I have covered above, offer a range of valuable information and insights into the DeFi ecosystem, both at a macro (all DeFi) and micro (specific chains/apps) level. Knowledge is the great asset in crypto, and DeFiLlama can help you be fully informed about all your DeFi decisions.
Spotting trends, staying current, delving deeper into the ecosystemβ¦these are the ways DeFiLlama can help you shine!
William M. Peaster is a professional author and creator of metaversalβ a new bankless newsletter focused on the emergence of NFTs in the crypto economy. He has also recently contributed content to Bankless, JPG and beyond!
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No financial or tax advice. This newsletter is for educational purposes only and is not investment advice or a solicitation to buy or sell any assets or make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
disclosure. From time to time I may include links to products I use in this newsletter. I may receive a commission if you make a purchase through one of these links. Additionally, the bankless scribes hold crypto assets. See ours Investment information here.
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