January 21, 2022 - 4 min read
DeFi Llama is one of the most popular online sources for detailed information about various DeFi products. DeFi Llama provides information including the current price levels of DeFi cryptocurrencies, as well as TVL information for DEXs (decentralized exchanges), lending protocols, yield farming operations, staking pools, DeFi insurance, and several other types of DeFi products.
Much like CoinMarketCap, DeFi Llama can be an essential research tool for individuals looking to check up-to-date information and statistics about the DeFi and crypto industry. Unlike CoinMarketCap however, DeFi Llama is focused specifically on newer DeFi products and not traditional cryptocurrencies. Therefore, it does not prominently list the prices of major cryptocurrencies such as Bitcoin and Ethereum.
Specifically, DeFi Llama lists price changes between the last day and the last week, as well as listing the total value locked (TVL) in specific protocols and assets.
DeFi Llama sources its info from two main sources, CoinGecko, and Uniswap.info. According to its website, CoinGecko is “the world’s largest independent cryptocurrency data aggregator” and tracks more than 5,000 assets over 400 exchanges.
Uniswap.info provides Uniswap’s analytics information on thousands of cryptocurrencies and tokens. Uniswap is currently one of the largest decentralized exchanges (DEXs) in the industry, with a TVL of $10.17 billion as of November 2021.
The combination of these two price sources generally makes DeFi Llama’s info highly accurate, though some would argue that the site would better serve readers by sourcing from a wider variety of data sources.
When considering buying, selling, or trading crypto, tokens, or other digital assets, it’s always a good idea to utilize an outside pricing reference, not just the currently listed price on an exchange. This is due to the fact that temporary price deviations, called slippage, can occur on exchanges, leading to potential losses for traders and investors.
Slippage can occur due to unexpectedly high levels of trading, oracle manipulation, hacks, or “flash loan” attacks. Flash loan attacks occur when a perpetrator takes out a large, temporary, flash loan and executes a trading strategy that will temporarily lower the price of an asset on an exchange, which they can instantly resell for a higher price.
By quickly referencing an outside source, like DeFi Llama, traders and investors can ensure that they aren’t purchasing an asset at over the market price, and therefore, accruing unneeded and preventable losses.
DeFi Llama’s dashboard lists TVL locked in various major blockchains, including:
DeFi Llama’s DEX tracker tracks major decentralized exchanges. It also lists the dominance, by percentage, of the largest DEX on each blockchain. Major exchanges DeFi Llama lists include:
Major lending protocols that DeFi Llama currently tracks include:
Like any major crypto or DeFi data website, DeFi Llama has a variety of competitors that can also provide accurate TVL data for blockchains, DEXs, lending protocols, yield farms, and other DeFi products. Other major DeFi data sources include:
Some websites, like DappRadar, have slightly different specializations than DeFi Llama. For example, includes pricing information for top NFT collections, such as Axie Infinity and Bored Ape Yacht Club, gaming information, and even DeFi gambling info.
Overall, DeFi Llama is a great source for information on the current state of DeFi protocols, but it isn’t the only good source of information out there. By using a combination of data sources, DeFi investors and enthusiasts can make sure that they’re getting the best, most up-to-date information about DeFi products and services. As the DeFi and crypto market continues to grow, we expect the popularity of both DeFi Llama and its competitors to increase over time, allowing accurate information about DeFi to spread to an even wider audience.
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