TLDR:
DefiLlama is a platform that analyzes data from different blockchain networks and their applications
DefiLlama helps users track the total value locked (TVL) in decentralized finance (Defi) platforms
DefiLlama uses an open protocol and adapters to collect and aggregate data from various sources
DefiLlama also provides market capitalization data and performance metrics for Defi protocols
DefiLlama faced a fork over the launch of its LLAMA token and announced beta testing for its ChatGPT plugin
Article:
DefiLlama is a platform that provides integrated data analysis for decentralized finance (Defi) platforms across different blockchain networks. It was created to help users who are unable to track blockchain projects individually. DefiLlama is a TVL aggregator, which means it measures the total value of digital assets staked on the platforms.
Defi is a term that refers to various financial applications that run on blockchain networks, such as Ethereum, Cardano, Terra, and others. These applications offer services such as lending, borrowing, trading, and investing, without intermediaries or central authorities. However, tracking the information and performance of these applications can be challenging, as they are scattered across different blockchains. This is where DefiLlama comes in.
DefiLlama is a platform that collects and aggregates data from various blockchain endpoints and Defi protocols. It uses an open protocol and adapters to connect to different sources of data and present them in a single interface. Users can access reliable and up-to-date information on the TVL of different blockchains and their associated applications.
TVL stands for total value locked, which is an indicator of how much liquidity is available in the Defi space. It represents the amount of assets that are locked in the smart contracts of a Defi platform. The higher the TVL, the more popular and secure the platform is. DefiLlama tracks the TVL of almost all the blockchains in the Defi space, as well as the individual applications on each blockchain.
DefiLlama also provides market capitalization data and performance metrics for Defi protocols. Users can compare the market cap to the TVL ratio of different protocols to assess their efficiency and profitability. Users can also filter and sort the protocols by categories, such as lending, exchange, derivatives, assets, etc.
DefiLlama is a useful tool for anyone interested in Defi, as it allows them to discover new opportunities, monitor trends, and make informed decisions. It also supports community governance and participation through its native currency, LLAMA token.
However, DefiLlama faced some challenges in 2023, when it announced the launch of its LLAMA token. A tweet by one of its developers suggested that there was a disagreement among the core team over the token launch, which led to a fork of the platform. Later in the year, DefiLlama also announced beta testing for its ChatGPT plugin, which would enable users to give feedback about the platform using natural language processing.
