Full Analysis of DeFilama Functions: Decentralized Finance Data Mining and Market Insights

DeFilama, as a powerful Decentralized Finance data analysis tool, provides users with a wealth of features and data insights. This article will comprehensively introduce the main functionalities of DeFilama, as well as how to utilize this data for Decentralized Finance market analysis and identifying investment opportunities.

1. Decentralized Finance Overview

1.1 Overall Situation of Decentralized Finance

• Show the total locked value of the entire Decentralized Finance ecosystem (TVL)
• Rank protocols by TVL
• Support filtering by public chain

Currently, Lido has become the protocol with the highest TVL due to the Ethereum merge, with 99.2% of its TVL coming from Ethereum.

1.2 Public Chain Data

• Display data such as TVL, number of protocols, changes, and number of stablecoins for various public chains.
• Support viewing by categories such as EVM, non-EVM, Layer 2, Cosmos, Parachain, etc.

By observing the 7-day/1-month changes in TVL, one can find trends such as the launch of new projects. Decentralized Finance and stablecoins are the infrastructure of public chain ecosystems, which can be used to observe the development of public chains.

1.3 Unreleased Token Projects

• Sort the unfunded DeFi protocols by fundraising time.

This data updates slowly, but by combining it with the project's launch time, potential opportunities can be identified.

1.4 Protocol Treasury

• Display the total amount of each protocol's treasury and the composition of tokens

The size of the treasury does not equal the speed of development, but holding a large amount of its own tokens may indicate a smaller circulation or that the DAO becomes the largest seller. The events of FTX and BitDAO are worth learning from, as non-stablecoins pose risks to the treasury.

1.5 oracle

• Sort oracles by total value collateralized (TVS)
• Display the protocol status of various oracle services

Chainlink is currently a leader in the field. However, this data is not equivalent to the number of services provided, and there is a certain ambiguity.

1.6 Fork Projects

• Display the most copied protocols

The ones that are frequently forked are usually the industry leaders, which are worth focusing on for research. Developers can also discover new opportunities from this.

1.7 Leading company in niche market

• Showcasing leading protocols of various public chains in different Decentralized Finance segments
• Covering areas such as liquid staking, CDP, DEX, lending, yield aggregation, and cross-chain bridges.

The leading large public chain ecosystem is developing through multi-chain, while the leaders of small/emerging ecosystems are also seeking a larger market through multi-chain. Public chains that lack certain services may have new opportunities, such as in the CDP field of Canto.

1.8 Protocol Comparison

• Support selecting multiple protocols and comparing TVL changes along the timeline.

Suitable for comparing projects in the same track, such as the LSD field. This feature can also be extended to comparisons of metrics such as revenue, user numbers, FDV, etc.

1.9 Token Usage

• Query the usage distribution of specific tokens in Decentralized Finance

The data comes from on-chain, but only includes projects listed by DeFilama, which is not comprehensive. Interesting data includes: 3.49 billion USDT exists in JUSTLEND, and its usage is worth exploring.

1.10 Decentralized Finance 类别

• Show the number and TVL of various Decentralized Finance projects

DeFilama categorizes DeFi into 31 categories, including privacy, oracle, leveraged farming, unsecured lending, exotic options, real asset lending, and others with fewer than 10 protocols. These areas may contain opportunities.

1.11 Newly Listed Projects

• Show the projects recently listed by DeFilama

Note that "recently" refers to the time of being included rather than the time of the mainnet launch, which has a certain lag.

1.12 Programming Language

• Show the proportion of different programming languages in Decentralized Finance.
• Compare projects using different languages by TVL
• The proportion of open-source/non-open-source protocols in the Solana ecosystem

More detailed developer data can be referenced in Electric Capital's report.

2. Revenue Data

2.1 Liquidity Pool Ranking

• Rank 5327 pools across 275 protocols on 59 chains by TVL

In addition to BTC, ETH, and stablecoins, the top-ranked ones also include GLP from GMX and the GMX token pool.

2.2 Delta Neutral Strategy

• Select collateral tokens, automatically match strategies
• Calculate the overall return of each strategy component

Currently, there are few tracked pools, for reference only.

2.3 Long and Short Strategy

• Given the token, display all delta-neutral "long-short" strategies tracking pools and CEX perpetual contract markets.
• Consider the CEX funding rate and the DeFi yield to calculate the annualized return.

The currently cooperating CEX is OKX, and the decentralized platforms include Venus, Ankr, WOOFi, etc.

2.4 Leveraged Lending

• Display the cyclic APY, supply APY, LTV, and lending situation of different leveraged lending projects.
• Includes 158 pools from 291 protocols across 23 on-chain networks

Compared to other chains, BNB Chain has more projects and a higher circulating APY.

2.5 Lending Ranking

• Rank lending projects based on returns, LTV, supply, and usage.
• Included 777 liquidity pools from 291 protocols across 23 chains

2.6 Yield Overview

• View the median APY and distribution of a single cryptocurrency
• Display the APY of a certain cryptocurrency in various project pools.
• Visualization of APY data comparison

The visualization panel is suitable for staking data analysis reports.

2.7 Stablecoin Pool

• Includes 422 stablecoin pools from 275 protocols across 59 chains
• Display the TVL, base APY, reward APY, and 30-day average APY of each pool.

High APY usually relies on project token reward subsidies. In addition to Ethereum, there are also some noteworthy stablecoin pools appearing on Layer 2.

2.8 Halal Pool

• Track 5,273 "halal" pools across 36 protocols on 59 chains
• Including simple exchange DEX, single yield farming, liquidity staking, bridging LP, etc.

The TVL of the DAI-USDC pool of Arrakis Finance has reached $280 million, currently there are only basic yields, and no tokens have been issued yet.

3. DeFilama Swap Aggregator

• Aggregate multiple aggregators to provide the best trading path.
• Calculate transaction results and various fees and costs
• Supports custom slippage

You can first select the route here, and then go to the corresponding aggregator to look for discounts.

4. Lending Aggregator

• Enter collateral tokens and loan tokens to view all lending protocols.
• Calculate the cost of each lending option, considering incentives, supply APR, and borrowing APR.
• List all possible lending avenues, costs, and LTV

5. Transparency of Centralized Exchanges

• Display data on asset inflows, outflows, and net assets of centralized exchanges.

Recently, OKX has shown a net inflow of ($241.63M), while Binance has seen a net outflow of ($2.07B). The top 5 net outflows have not all flowed into the top 10 net inflow exchanges, possibly indicating over $1.5 billion in assets transferred on-chain. It is worth paying attention to the exchanges with net inflows during the bear market.

6. Clearing Data

• Display the total clearing amount of each chain and protocol
• Simulate a 20% drop liquidation scenario
• View the liquidation status of the 100 largest positions

ETH/USD liquidation price: Top 10 is $1,088.017, Top 12 and 15 are about $1,290, Top 18 is special, at $1,547.

7. Trading Volume Data

• DEX Daily/Weekly/Monthly Trading Volume Ranking
• Statistics on transaction volume, change volume, TVL, market share, and cumulative transaction volume by chain
• Options trading volume ranking ( data has defects )

In the options market, Lyra occupies more than 56% of the recorded data, holding an absolute leading position.

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