DeFiLlama

DeFiLlama is the de facto standard for measuring the size of decentralized finance. It aggregates total value locked (TVL), trading volumes, fees, yields, stablecoin supply, and protocol revenue across more than 7,000 protocols on more than 520 blockchains — and publishes it all free, with no login required and a public API that the rest of the industry relies on.

The Problem It Solves

Before DeFiLlama, there was no neutral, verifiable, multi-chain source of DeFi market data. Protocols self-reported figures with inconsistent accounting. Aggregators were opaque about methodology, prone to double-counting, and often missing smaller chains. DeFiLlama was created to fix that: an open-source platform where every data calculation is reviewable, every protocol adapter is a public pull request, and every methodology decision is documented in the open.

Founding and Team

DeFiLlama launched in October 2020, founded by a pseudonymous developer known as 0xngmi, alongside co-founders Charlie Watkins and Ben Hauser. The project has never taken venture capital funding and has never launched a native token. In March 2023, a public dispute arose between 0xngmi and co-founder 0xLlam4 over a proposed token launch. 0xngmi forked the codebase rather than proceed with tokenization. The teams subsequently reconciled.

The project is maintained by roughly two dozen contributors, many anonymous. Costs are covered through Pro subscriptions, developer grants, and community donations.

How It Works

DeFiLlama's architecture is adapter-based. Each supported protocol has its own open-source adapter — a script in the public DefiLlama-Adapters GitHub repository — that reads directly from on-chain state to compute that protocol's TVL. Anyone can submit a new adapter.

The methodology handles double-counting by excluding liquid staking tokens from secondary protocol TVL by default, counting each deposit once per protocol, and excluding non-circulating tokens. The result is a conservative, auditable TVL figure.

Key Features

• TVL and Protocol Rankings: Core dashboard ranking protocols by TVL with historical charts.
• Chain Analytics: Every tracked blockchain has its own page showing TVL history, stablecoin supply, protocol breakdowns, fees, and DEX volume.
• Yields Aggregator: More than 14,000 farming and lending pools tracked with live APY rates.
• Stablecoin Tracker: Supply, peg stability, and cross-chain distribution for all major stablecoins.
• DEX and Perpetuals Analytics: Coverage of 970+ DEXs and 270+ perpetual trading platforms.
• Airdrop Tracker: A list of 3,500+ tokenless protocols.
• Crypto Hacks Registry: Historical record of security breaches across DeFi.
• LlamaSwap: A meta-aggregator querying multiple DEX aggregators simultaneously for best execution, with a privacy mode preventing DEX routers from associating wallet addresses with IP addresses.
• Public API: Free, no paywall. Serves TVL, protocol, chain, yield, stablecoin, and bridge data in standard JSON.

Solana Coverage

Solana is one of DeFiLlama's most actively tracked chains. The platform provides a dedicated Solana chain page with aggregate TVL, protocol-level rankings, stablecoin supply, daily fees, and DEX volume. Major protocols tracked include Jito, Sanctum, Marinade, Kamino, and Drift. Solana's TVL, as tracked by DeFiLlama, peaked above $11 billion in mid-2025 and settled near $5 billion in mid-2026.

Business Model

DeFiLlama has no native token. Revenue comes from optional Pro subscriptions (unlocking additional data endpoints and higher API rate limits), grants, and community donations. This model means DeFiLlama has no financial incentive to inflate or favor particular protocols' TVL figures.