DeFiLlama is an indispensable tool for newcomers to the Crypto market who want to explore and analyze projects in DeFi on their own. With the ability to aggregate and provide data on capital flows, TVL (Total Value Locked) of DeFi ecosystems and protocols, DeFiLlama helps users easily grasp the capital flow rules and market trends.
In this article, we will guide you on how to use DeFiLlama to confidently embark on the journey of discovering and evaluating potential projects!
What is DefiLlama?
DeFi Llama is a website launched on the market in 2022, and is currently the largest DeFi data analysis platform in the decentralized ecosystem.
It provides a detailed and comprehensive view of the market from various blockchains such as Ethereum, Solana, BNB Chain and many other platforms that users around the world can access project information about TVL, revenue, transaction fees and other data for free.
The DefiLlama platform helps users easily track TVL, APY and other project data to make informed investment decisions. DeFiLlama also has a user-friendly interface inspired by Uniswap. This platform is suitable for both new investors and DeFi experts, providing an optimal user experience.
How does DefiLlama work?
DefiLlama can track dozens of indicators of over 5,000 protocols and 330 different blockchains.
DefiLlama stands out by aggregating on-chain DeFi data. The platform includes a range of projects such as decentralized exchanges (DEXs), lending platforms, and liquid staking protocols.
By compiling all DeFi data in one place and then displaying it on data dashboards, DefiLlama helps you easily monitor the DeFi market through key indicators such as TVL, trading volume, and liquidity.
What can you use DefiLlama for?
Here are some of the main features commonly used by investors and users:
- Track TVL: TVL (Total Value Locked) and revenue are two important indicators that help assess the potential and credibility of a crypto project, as higher TVL and revenue indicate higher project potential, creating FOMO.
- Monitor ecosystems: DefiLlama helps users track dApps on each network, allowing investors to search for and evaluate potential dApps.
- Analyze the DeFi market: Provides detailed data and key indicators on the DeFi market, including trading volume, transaction fees, and metrics related to the development of DeFi protocols.
- Hunt for Airdrops: Although not a common purpose, some users still use DefiLlama to hunt for airdrops in the crypto market.
These are just a few of the main purposes that users utilize the platform, as there are still many other features that you should explore...
Overview of the common features of DefiLlama
To provide a comprehensive view of the platform's capabilities, here is an analysis of its main features:
Overview
The Overview tab is the most important interface of DefiLlama. Users use the overview to track the overall DeFi market statistics, including:
- TVL Chart: Helps visualize TVL data for each blockchain.
- StableCoin Market Cap: Chart provides options to add other metrics such as trading volume and market capitalization of stablecoins in the last 24 hours.
- Protocol Ranking: Lists thousands of DeFi applications, along with their key indicators.
Chains
The Chains tab gives users an overview of the TVL of all DeFi chains hosting decentralized applications (dapps), including Ethereum, Solana, Tron, Polygon, and BSC. You can customize the chart to display EVM-compatible chains, Rollups, or Cosmos chains.
In addition to TVL, the Chains section also displays the stablecoin market capitalization on each network, transaction fees, the number of dApps, revenue...
Bridgle TVL
The Bridge TVL tab provides a ranking of bridges in the market, helping investors identify popular bridges and forecast potential ecosystems. For example, if the Avalanche bridge has seen significant changes in the last 24 hours, this may indicate that capital is flowing into the Avalanche ecosystem.
The key parameters in Bridge TVL include:
- Total Bridged: The total locked value (TVL) on the bridge.
- Change 24h: Transaction volume change in the last 24 hours.
- Native: The volume of native assets from other networks using the bridge (e.g., ETH converted to OPETH when crossing Optimism).
- Canonical: The volume of native assets on the same network using the bridge (e.g., USDC on Ethereum and Optimism).
- Own Tokens: The volume of the bridge network's native tokens.
Compare Chains
The Compare Chains tab allows users to compare the TVL, fees, or revenue of two or more different blockchain networks.
Airdrops
In the DeFiLlama Airdrops tab, users will find protocols that have not yet issued tokens but may potentially conduct airdrops in the future. This allows users to participate early and optimize their profits, as the higher the TVL, the more likely the users will receive airdrop rewards.
Current Prominent DeFi Capital Flows
Sui
TVL: $1.813B
The Sui ecosystem continues to record significant capital inflows, as evidenced by the recent 24h (27%) and 30D (10%) TVL growth. Sui is attracting capital due to the emergence of new DeFi projects and its scalability, with protocols like AMMs and lending starting to take shape, drawing in both short-term and long-term investors. This growth indicates that the Sui ecosystem is becoming a new destination for DeFi funds.
Deepbook (DEEP) has been the top capital attractor on Sui recently, contributing to the near $2 billion TVL growth of the Sui ecosystem.DeepBook has gone through the Sui testnet with over 1.1 million transactions from 115,000 wallets, demonstrating its importance in the DeFi ecosystem.
HyperLiquid
TVL: $2.72b
7D: Increased 300% TVL
Hyperliquid is a decentralized exchange that is considered the largest airdrop in Crypto history, allocating 30% of the total supply to early users.
Read more: Airdrop & Retroactive have a major breakthrough thanks to Hyperliquid
Without the backing of VCs, Hyperliquid does not need to list with low supply and high FDV to create FUD and concentrate the Airdrop for Insiders, but instead uses revenue from volume => The project provides real value
On December 6, 2024, Hyperliquid reached its peak with a 24-hour trading volume exceeding $10 billion and a market capitalization surpassing Litecoin
Bitcoin Ecosystem
TVL: $6.933b
7D: 96.63%
It is quite understandable that the capital flow in DeFi is directed towards the Bitcoin ecosystem, as the current phase has seen the best growth performance of $BTC!
Babylon has attracted the attention of the Bitcoin community. Particularly in the reopening to add more BTC Staking pools, Babylon has raised around $1.5 billion in Bitcoin value in less than 90 minutes, data from Babylon's official website and Farside Investors shows that Babylon's total Bitcoin staking volume has reached 50,986.3 BTC (~$5.38 billion).
Read more: Key information about Babylon
Summary
We have just provided an overview of DeFiLlama and how to use it to understand the capital flow dynamics in DeFi! Brothers, please refer to this to develop your own suitable investment strategies!
