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Defillama Review 2024

Our veredict

DeFiLlama stands out as a premier DeFi analytics platform, offering extensive data across over 225 layer 1 and layer 2 blockchains. The platform’s primary strength lies in its comprehensive TVL (Total Value Locked) analytics, which covers data on more than 3,000 DeFi applications, making it an invaluable tool for assessing DeFi projects and investment opportunities. Additionally, DeFiLlama features a user-friendly interface, detailed yield comparisons, and advanced tools for tracking hacks, token unlocks, and cross-chain activities. It’s particularly recommended for both beginners and experienced investors who need detailed insights into the DeFi ecosystem.

However, there are some downsides to consider. The platform’s reliance on accurate data input means occasional discrepancies can occur, which may impact the reliability of some metrics. Furthermore, its focus on DeFi means it might not cater to those interested in broader cryptocurrency markets or traditional financial instruments. Despite these limitations, DeFiLlama remains a top choice for those seeking deep, actionable insights into decentralized finance.

Pros

Extensive Blockchain Coverage DeFiLlama tracks data across over 225 layer 1 and layer 2 blockchains, ensuring comprehensive performance evaluation across multiple networks.
Comprehensive TVL Analytics The platform provides detailed analytics on Total Value Locked (TVL) for over 3,000 DeFi applications, helping users identify promising investment opportunities.
Detailed Yield Comparisons DeFiLlama offers yield data for popular tokens and different DeFi protocols, enabling users to evaluate the risks and rewards of various yield farming strategies.

Cons

Threenvest Score

Network

Ethereum

Fees

Variable

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Why choose Defillama?

Choosing DeFiLlama as your go-to DeFi analytics platform is a smart move for several reasons. First, its extensive blockchain coverage spans over 225 layer 1 and layer 2 blockchains, ensuring comprehensive data across multiple networks. This allows you to track performance and TVL (Total Value Locked) data for a wide range of DeFi projects, giving you a holistic view of the market.

Additionally, DeFiLlama excels in providing detailed yield comparisons and TVL analytics for over 3,000 DeFi applications. This feature is invaluable for yield farming, staking, and identifying promising investment opportunities. The platform’s user-friendly interface and real-time data updates make it accessible for both beginners and experienced investors, enabling them to make informed decisions quickly and efficiently.

Moreover, DeFiLlama’s commitment to transparency and security is evident through its extensive database of hacks and exploits, helping users assess risks and protect their investments. This focus on security, combined with its comprehensive data and reliable performance, makes DeFiLlama a trusted and indispensable tool in the DeFi ecosystem.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our site, I highly recommend DeFiLlama for its unmatched depth in DeFi analytics. Its extensive blockchain coverage and detailed TVL data across over 225 blockchains make it an indispensable tool for tracking and evaluating DeFi projects. Whether you’re a beginner or a seasoned investor, DeFiLlama’s user-friendly interface and real-time updates will help you make informed decisions effortlessly. Its focus on transparency and security further enhances its reliability, making it a top choice for anyone navigating the DeFi space.

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We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

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Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

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Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.