DefiLlama - DeFi Dashboard

DeFiLlama- A popular analytical platform to track TVL

Those who have been trading cryptocurrencies for a long now can be found striving to explore the deepest layers involved in this field of trading. Since there are several things attached to it, decentralized finance is something that is becoming very popular among crypto traders. One such platform that I would like to introduce through this read is DeFiLlama. If you have also heard of this platform from a source and wanted to know more about it, then we have got you covered. Here, we will take an in-depth look at the various aspects related to DeFiLlama.

To put it short, it is a go-to analytics platform that lets you track Total Value Locked across different DeFi protocols (decentralized protocols) and blockchains. This platform, in particular, offers transparent, comprehensive, and real-time data empowering users, investors, as well as developers to keep track of the recent DeFi trends. Apart from that, it makes you eligible to compare protocols and take an active part in the decision-making process in the ever-rising DeFi ecosystem.

What is DeFiLlama? An Introduction

This is a decentralized as well as community-driven analytics platform that ultimately comes into action when it comes to tracking the DeFi protocols across a wide range of blockchains. The platform collects data from a multiple protocol. Once the data is aggregated, DeFiLlama presents it in a clean as well as intuitive interface. It is important to note that the core metric tracked here is Total Value Locked (TVL) which is the amount of assets staked or locked in a protocol.

When compared to some other analytics platforms which usually depend on centralized data sources, DeFiLlama is one such platform that is completely open-source as well as transparent. Hence, it can be counted as one of the most trusted tools available in the DeFi world.

Key features of DeFiLlama

• TVL tracking- The platform or tool that we are talking about is something that offers real-time TVL metrics for more than 300 blockchains which includes Ethereum, Solana, Optimism, Solana, Binance Smart Chain, Avalanche, and more.

• Protocol Analytics- Get a chance to compare and analyze multiple DeFi protocols including Aave, Curve, Lido, Uniswap, and more. You get a chance to view metrics like TVL trends, market share, revenue, etc.

• Cross-chain insights- DeFiLlama is known to aggregate data from multiple chains allowing you to analyze where liquidity is moving and which ecosystems are gaining popularity among traders.

• Yield and airdrop aggregators- Using this aggregator, you can now track real-time yields, become eligible to get token incentives, and be a part of the upcoming airdrops. In short, it helps you maximize your DeFi returns by offering you the best opportunities in this field.

• Revenue and fees dashboards- This feature allows you to keep track of the protocol earnings, fee structures, etc. which is essential for analyzing the sustainability of Decentralized Finance projects.

• Open-source and community-driven- DeFiLlama is a non-commercial as well as ad-free platform. This platform is empowered by a community of contributors and developers who focus on ensuring data transparency as well as reliability.

Benefits of using DeFiLlama

• Trustworthy- Though it has an open-source infrastructure and does not have any paywalls, the platform still ensures complete transparency and comes with trustworthy DeFi metrics.

• Track DeFi Trends- Get a chance to see which chains and protocols are gaining and losing TVL along with spotting trends previously so that they can make smarter investment decisions.

• Cross-chain comparison- There are features in this tool that give you a clear picture of the DeFi landscape across multiple blockchains.

• Discover opportunities- Get a chance to explore top-yielding protocols, airdrops, and new projects. The platform also offers curated data which helps you earn more and take a sneak peek into undervalued opportunities.

• Ad-free platform- DeFiLlama is known for offering its services without letting you come across any annoying ads or paid listings. This means that it provides data with a clear vision.

How to use DeFiLlama as a beginner?

If you wish to use DeFiLlama as a beginner and do not have any idea of the same, then you can follow the easy steps below to understand the comprehensive process explained below:

1. Begin by navigating to the official website i.e. https://defillama.com/. The best part is that you do not need to perform any login procedure or connect to a wallet.

2. Without much struggle, you can now explore the homepage for protocol rankings by TVL. You may also click on a protocol of your choice and get access to comprehensive details of that protocol including TVL history, chain distribution, token price and fees, etc.

3. Apart from that, there is also a navigation bar that helps you filter by chain or by sector.

4. Following this, you may also get a chance to compare different protocols with the help of real-time and historical data. Get a chance to utilize the charts as well as tables which allow you to draw insights for investment as well as research purposes.

5. Moreover, you can also use the Advanced tools to access features such as Revenue Dashboards, Yields, Fees, and Airdrops. These tend to give you more in-depth opportunities and analytics.

Conclusion:

In the ever-evolving and data-driven DeFi world, this platform (DeFiLlama) stands apart from its contemporaries. It has turned out to be a reliable, user-friendly, and transparent platform that is perfect from the analytics point of view. Whether you are interested in tracking TVL, want to compare protocols across blockchains, or would like to discover new yield opportunities, this platform gives you all the tools required to do that. Hence, if you have DeFiLlama by your side, you get the power to navigate the DeFi ecosystem with confidence.

The best thing about this platform is that you do not pay any kind of fees or go through a login process making it extremely easier for users to extract the available benefits. All the data on the platform is updated on a real-time basis as visible through the given timestamp information page for each protocol.  In addition to that, it also supports Layer-2s like Arbitrum, Optimism, and zkSync, while providing support for some non-EVM chains like Solana and Terra.