In recent months, DeFiLlama has become the must-know platform for statistics on the decentralized finance sector. Any DeFi protocol that does not appear here, misses out on much more exposure.
DeFiLlama is considered the DeFi yellow pages that have more features over time. In this article, we made a guide. However, there is more information that we wanted to cover.
What is DeFiLlama?
DeFiLlama is a directory of DeFi protocols where you can find statistics by blockchain, by % yields, analysis of stablecoins and DEXs, airdrops, oracles, forks, among others. As soon as you get inside the website, you can see DeFi’s overall TVL, the 24-hour trading volume, the protocol that has the biggest dominance, and the list of DeFi protocols with the highest TVL.
— DefiLlama.com (@DefiLlama) September 13, 2022
With more than 1900 DeFi protocols listed, what makes DeFiLlama a successful analytic website is how it shows information. It’s very easy to understand how to use it.
How to Use DeFiLlama?
The most difficult part of DeFillama is understanding the variety of information that it has. More and more information is available on this platform every time I get inside. You just need to take time to explore each section. Let’s see some basics:
1 – In this section, you can how the magic happens in DeFiLlama. As soon as you click on any feature, the information from DeFi protocols is classified into lists. Nowadays, they have recently launched a directory and liquidation feature.
2- Here you can search for any DeFi protocol you want. Normally, you will be able to find it because they are adding more every day. On its Twitter handle you can see which ones.
3- For me, this is the most visually appealing part of the web, as you can see in the screenshot, in this section there is a lot of statistical information that is updated daily about any of the more than 1300 defi protocols listed.
4- Finally, here is where all the protocols appear. You can organize them by category, blockchain on which it works, % price variation of the native token in the last day, 7 days, and a month, and also by the LTV.
Which DeFi Crypto is Best?
In DeFiLlama you can see which protocols perform best in the short or long term. Basically, this is based on the level of adoption that each platform has in its community. So, this does not necessarily mean that if the price of the token went up 300%, then the project is the best. SHIB holders can confirm what I am saying.
In other words, DeFiLlama is a website where you can monitor the performance of DeFi protocols that can serve as a first filter to see if, over time, the platforms have organic growth. And from there, analyze the technology and what problem the project solves.
Protocols in Solana in DeFiLlama
To know which DeFi protocols from Solana are Listed in DeFiLlama, you need to:
- Go to the left sidebar and click on “Chains“.
- Scroll down the website and find “Solana“. Nowadays, it has 81 protocols with $1.5 billion in TVL (Total Value Locked)
Here, you’ll discover that Solend, a lending/borrowing decentralized platform, is leading Solana’s blockchain. Nowadays, it has $419.3 million in TVL and more than $158.9 million borrowed.
Protocols in Polygon in DeFiLlama
Moreover, doing the same procedure as in the case of Solana, you have to go to Polygon. Nowadays, it’s in the 6th position with 306 protocols and $1.69 billion in TVL. A very cool feature about DeFiLlama is when there is a protocol that works in more than one blockchain, you can see which ones are on the same page.
Finally, in Polygon, AAVE is the leading protocol with 30.74% of the total TVL in this chain. So, as Polygon is considered an L2 blockchain, there are many protocols that also work on other blockchains. You can see it in the picture below:
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