Introducing DefiLlama: An Extensive Guide To The DeFi TVL Dashboard
Looking for a platform that is committed to delivering accurate and comprehensive data on all known Layer 1 and Layer 2 blockchains? You can choose DefiLlama, a platform that aims to offer accurate and transparent information for DeFi enthusiasts and investors. In this blog, we will introduce you to DefiLlama and its features, and show you how to use it to get the most out of DeFi.
Table of Contents
What is DefiLlama?
DefiLlama is a platform that provides analytics and data for decentralized finance (DeFi) projects across different blockchains. It tracks the total value locked (TVL), liquidity, and yield farming opportunities for various protocols. The platform aims to offer accurate and transparent information for DeFi enthusiasts and investors.
Source: DefiLlama
Launched in October 2020, the platform emerged as a significant tool for crypto information and research. It offers detailed data on various indicators such as TVL, active users, revenue, etc. It also enables much flexibility when filtering data and lets you directly contrast protocols and blockchains.
The DefiLlama TVL aggregator operates with over 249 chains including Ethereum, Tron, Solana, Bitcoin, etc. along with tracking over 2,400 protocols across 181 blockchains, it offers a comprehensive view of the DeFi ecosystem with a total TVL exceeding $58 billion.
The complete working of DeFi TVL aggregator
It is a leading platform for gathering DeFi data, offering a vital tool for monitoring the state of the DeFi market. The platform aggregates data from thousands of DeFi protocols and hundreds of Proof of Stake (PoS) networks like Ethereum to provide a precise snapshot of the sector.
PoS is a type of algorithm that aims to achieve distributed consensus by staking cryptocurrency to become validators and is used by many cryptocurrencies, such as Ethereum, Cardano, Polkadot, and Tezos.
DefiLlama: the standout performer
These features make DefiLlama a standout performer in the crypto land.
• It tracks the TVL, liquidity, and yield farming opportunities for various protocols.
• The platform delivers cross-chain and historical data and trends for DeFi projects and tokens.
• It enables users to compare protocols and yields and access real-time alerts and airdrops.
• The aggregators have a user-friendly and customizable interface and a public API.
• The platform has a LlamaSwap feature that optimizes trading conditions across multiple DEX platforms.
What to track with the dashboard?
The DeFi TVL aggregator has expanded its offerings with several new functionalities to enhance its services. A few of the significant offerings are as follows:
DefiLlama Chains: You can investigate the TVL for specific protocols across multiple blockchains. The platform supports around 253 blockchains including Bitcoin sidechains, Parachains, and other features like protocols, TVL, addresses, stables, and 24-hour volumes. With the DeFi TVL aggregator, you can also compare different chains.
Source: DefiLlama
Oracles: Another effective facility you can avail of is Oracle service which provides seamless integration with traditional systems, external data sources, and complex calculations. You can track transaction data, chains, and protocol security with around 50 Oracles.
Source: DefiLlama
Forks: The platform offers over 94 options in forks which is used any time a developer copies open-source code and uses it as the base for a new, separate project. You can calculate TVL for all forks, forked protocols, and fork TVL/ Original TVL.
Source: DefiLlama
Yields: Another exciting feature to explore in the respective platform is Yields which helps in earning rewards by depositing tokens. The service offers tracking of 11775 pools over 402 protocols on 81 chains along with details of projects, chains, and different types of Annual percentage yields (APY).
Source: DefiLlama
NFT: Last but not least feature of the DeFi TVL aggregator is its compatibility with Non-fungible tokens (NFTs). You can explore a wide range of NFT projects, around 4018 NFT earnings, and 22 NFT marketplaces. From floor price to total lifetime earnings, and buying to selling you can check every stat of the NFT world.
Source: DefiLlama
In addition to this, you can also explore other effective features including governance, where you can check different project proposals and their success rate. Additionally, developers can use different programming languages for smart contract development as the platform supports over 17 programming languages including Solidity, Vyper, Rust, Bitcoin Script, etc.
Conclusion
DefiLlama is a platform that provides analytics and data for DeFi projects across different blockchains and tracks the TVL, liquidity, and yield farming possibilities for various protocols. It allows you to compare and contrast protocols and blockchains, discover and access the best yield farming opportunities and real-time alerts and airdrops, and explore and analyze DeFi data with various features and indicators.
FAQs
How does DefiLlama get its data?
The platform gets its data from various sources, such as the protocols’ APIs, subgraphs, block explorers, and community submissions. It also verifies and audits the data to ensure its accuracy and reliability.
How often does DefiLlama update its data?
The platform updates its data every 15 minutes, or more frequently if there are significant changes in the market or the protocols.
