DefiLlama Review

What is DefiLlama?

DefiLlama is the largest DeFi information aggregator in Crypto. The platform tracks all of the top Layer 1 and Layer 2 blockchains and is fully open-source and maintained by a team of passionate contributors from all around the world. DefiLlama provides real-time analysis of Defi markets, insights into Defi products and services, and access to community resources like TVL information, a Meta-DEX Aggregator, Yield Aggregator and much more.

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What Blockchains does DefiLlama track?

The DeFiLlama Chains dashboard currently tracks over 135 different Layer 1 and Layer 2 blockchains that are EVM and non-EVM compatible. This includes popular networks like Ethereum, Solana, Avalanche, Polygon, Optimism, Cronos, METIS, Dogechain and many others.

The key metric DefiLlama tracks for blockchains is the Total Value Locked (TVL), which means the amount of value that is locked or deposited onto the network. The platform also tracks the 1-day, 7-day and 1-month changes so investors can get a better understanding of flows between networks.

What DeFi Apps does DefiLlama Support?

DeFiLlama also tracks thousands of different Decentralized Finance (DeFi) applications on its 135+ listed blockchains. They pride themselves on being inclusive and non-biased to deliver metrics that the community would think benefits the industry. That being said, the listing processes are pretty loose and they have sometimes listed projects that have rug-pulled.

The best part about DeFiLlama's application tracking dashboard is that it segments the TVL based on the particular deployment of the application. For example, Curve Finance is deployed on Ethereum, Polygon, Gnosis, Arbitrum and other 5 networks. The DeFiLlama dashboard breaks the TVL  information down in one easy-to-understand chart and table.

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Defillama Meta-DEX Aggregator

Defillama has also recently launched a meta-DEX aggregator that queries 1inch, Cowswap, Matcha and other popular aggregators to help users find the best swap price. Defillama takes 0 fees on swaps, which ensures that users get the best price to execute large orders on-chain. The product is currently implemented on all major EVM-chains including Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum and many others.

DefiLlama Airdrops

One interesting new feature on their platform is DeFiLlama Airdrops. This page aggregates all cryptocurrency projects and tokens that are rumoured to have an upcoming airdrop on 130 different networks. Users can sift through the DeFiLlama Airdrop dashboard to use applications and potentially earn thousands in revenue from airdrop payouts.

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DefiLlama Yield Aggregator

One of the best and most popular features of the DefiLlama platform is their yield aggregator. This feature allows users to scan all of the available yield opportunities for any token on any network. This enables investors to quickly scan all blockchains to find the best liquidity pool, money market or other opportunity to earn yield on their investment

DefiLlama Founder - 0xngmi

The DeFiLlama founder 0xngmi is an anonymous developer with an active Twitter channel. He regularly posts updates about new features that he is thinking about and requests user feedback. Outside of DeFiLlama, 0xngmi has also built a platform called Llamapay which allows DeFi users to stream payments in real-time with USDC, USDT and ETH.

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Is DefiLlama Data Reliable?

Yes, the data from DeFiLlama is reliable because it is taken directly from open and permissionless protocols on the blockchain. This means that users can independently verify information provided by DefiLlama through the specific chain to test the information. Since being founded, there have been no complaints or accusations toward DeFiLlama for lack of credibility.

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Final Thoughts

Overall, Defillama is the best one-stop-shop for all things Decentralized Finance (DeFi). It is the most popular free analytics tool that allows users to gain insights to valuable information such as the relative growth, or decline, in Total Value Locked of a Layer 1 network, Layer 2 network or a DeFi application.

The platform is also a popular aggregator for yield farmers to research opportunities cross-chain to find the best protocol to deploy their assets and find safe opportunities to earn interest on their tokens.