What is Defi Llama?
DefiLlama is a DeFi data analytics platform that includes TVL (Total Value Locked) and APY (Annual Percentage Yield) data across all levels (L1 & L2) blockchains. In simple words, DefiLlama is a blockchain data aggregator platform that breaks down the crypto data from different crypto projects, including decentralized exchanges (DEXs), lending platforms, and liquid staking protocols into graphs, charts, and tables to simplify their understanding for developers, investors, and general users. As an open-source, public platform, it commits to transparent data collection methods.
DeFi Llama aims to make the world of decentralized finance open and transparent. It provides easy access to all the crucial information of the DeFi market to people.
To understand it better, let us elaborate the terms TVL and APY:
What is Total Value Locked (TVL)?
Total value locked refers to the total assets or cryptocurrencies locked in a DeFi project and is expressed in USD, ETH, or project token. The higher the TVL, the more money is being deposited into DeFi protocols, which is generally seen as a sign of a healthy DeFi ecosystem.
What is Annual Percentage Yield (APY)?
Annual Percentage Yield refers to the annual return on any crypto investment. DeFi platforms showcase potential returns on their cryptocurrency deposits. This metric helps users compare the profitability of different DeFi protocols.
Key Features of DeFi Llama
The following are the key features of DeFi Lllama:
Comprehensive Data
DeFi Llama gathers data on various DeFi projects and provides users with all types of information, including trading volumes, token prices, liquidity pools, and the stablecoin market in an organized manner.
User-Friendly Interface
DeFi Llama offers a simplified, smooth, and user–friendly interface that is feasible for newcomers and experienced DeFi users. Users can scroll through the interface, compare the performance of different crypto projects, and get insights to make intelligent decisions.
Historical Data
DeFi Llama not only shows the current data but also stores all the historical data of the included DeFi projects. Users can use this historical data to study the trends, get insights on the patterns, and thus make data-backed decisions.
Multichain Tracking
DeFi Llama tracks the DeFi activity across numerous blockchain networks despite their popularity. Thus, it provides a comprehensive overview of the project performance and compares its metrics on different blockchain networks.
Community Engagement
DeFi Llama maintains an engaging environment among users via social media feeds, discussion forums, and governance data. Using these, people actively engage in the DeFi Llama and get updates on different activities.
Comparative Analysis
DeFi Llama allows users to compare trends of different projects based on various factors like fees, TVL, revenue, and active users across different blockchains in the form of charts and graphs for their easy interpretation.
Accurate & Real
When it comes to a leading DeFi data analytics provider platform, DeFi Llama stands at first. It not only shows the most up-to-date and accurate information but even maintains transparency with the users by citing all the sources of information.
Use Cases of DeFi Llama
Following are the use cases of DeFi Llama:
For Investors & Traders
DeFi Llama shows a 360-degree overview of the Total Volume Locked (TVL) of various DeFi projects and provides insights into the ongoing trends. This assists traders and investors in identifying investment opportunities with potential growth and assist.
For New Comers
With a user-friendly dashboard and engaging environment, DeFi Llama provides the ultimate platform for new entrants in the DeFi world. It acts as a guide and allows new users to understand prominent DeFi projects and their market dynamics better.
For Analysts & Journalists
DeFi Llama’s charts, graphs, detailed reports, articles, and insights would be fruitful for analysts and journalists requiring accurate and latest information. DeFi Llama maintains transparency by referring to all the sources of the information, which makes the data and information credible and thus gains the people’s trust.
For DeFi Project Teams
DeFi project teams can use DeFi Llama to track the performance, growth, popularity, and areas of improvement in their crypto project. They can understand its highs and lows and compare it with other DeFi projects. The team can then analyze the gathered analytics to build intelligent future strategies, development goals, etc.
Some New Additions in DeFi Llama
Thus, sites like DeFi Llama show fact and data-based information instead of biased insights of a single project. As the anticipation of public increases for crypto and decentralized finance, such platforms have the potential to be the go-to place for investors, traders, and businesses.
Apart from DeFi Llama, CoinMarketCap, CoinGecko, DappRader, DeFi Pulse, and EtherScan.io are some other DeFi analytics platforms that the public can use to gain insights into the decentralized finance market trends and more.
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I am the CEO and founder of Blocktech Brew, a team of blockchain and Web 3.0 experts who are helping businesses adopt, implement and integrate blockchain solutions to achieve business excellence. Having successfully delivered 1000+ projects to clients across 150+ countries, our team is dedicated to designing and developing smart solutions to scale your business growth. We are focused on harnessing the power of Web 3.0 technologies to offer world-class blockchain, NFT, Metaverse, Defi, and Crypto development services to businesses to help them achieve their goals.
