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Project

DefiLlama

DefiLlama is an independent analytics platform that tracks total value locked, fees, revenue, and other metrics across DeFi protocols and blockchains.

Known aliases

  • DefiLlama
  • Defi Llama
  • DefiLlama.com
  • DefiLlama Hacks and Exploits Database
  • DefiLlama Research
  • DefiLlama RWA dashboard

Current stories

investOne report1 publisher

Spark Liquidity Layer ranks first among on-chain allocators about 29% below its Q2 average

Spark Liquidity Layer has more than $3 billion deployed across SparkLend, Morpho, Uniswap and Anchorage loans, according to Crypto Briefing. The report calls it the largest on-chain allocator DefiLlama tracks, though the second-quarter average ran higher.

Reality

Evidence40
Adoption65
Hype gap+25
Incentives
Not scored
Confidence45
investOne report1 publisher

Curve Finance credits LlamaLend v2 for 84% of a quarter that lifted its loans 68%

Curve Finance's active loans rose 68% to $70.9 million in Q3, according to its quarterly update. Sector lending is still about 13% below its 2025 close, a $4.7 billion gap roughly 164 times Curve's $28.7 million quarterly gain.

Publishers:crypto.news

Reality

Evidence50
Adoption30
Hype gap+20
Incentives65
Confidence55
investConfirmed2 publishers

Standard Chartered gives stablecoins until 2030 to reach $2 trillion from a base of $309 billion

Standard Chartered moved its $2 trillion stablecoin forecast from 2028 to 2030 as supply stalled near $309 billion. Geoffrey Kendrick, its head of digital assets research, ties the stall to weak crypto markets, and Allium data show trading still outweighs payments.

Reality

Evidence55
Adoption45
Hype gap+30
Incentives
Not scored
Confidence58
investOne report1 publisher

Firelight's staked FXRP now backs $38 million of cover that was charged $56,914 in premiums

Firelight's Oct. 6 activation put existing FXRP stakers behind $38 million of cover, with exits now taking 30 to 60 days. Premiums charged came to about $56,914, or 0.15% of the cover, against a first-loss buffer near $1.0 million, CryptoSlate reported.

Publishers:cryptoslate.com

Reality

Evidence68
Adoption35
Hype gap+20
Incentives
Not scored
Confidence62
investOne report1 publisher

Robinhood Chain logged 62% of its third-quarter DEX volume in a subsidized September

Robinhood Chain's 30-day DEX volume of $38.62 billion passed Base's $30.46 billion, according to Defillama data. Its third-quarter results will take in a September when Robinhood covered gas on some swaps, and none of the slower October.

Publishers:news.bitcoin.com

Reality

Evidence42
Adoption55
Hype gap+35
Incentives60
Confidence50
investOne report1 publisher

Papertrade books $37 million in four days by taking the other side of 1000x BTC and ETH bets

Papertrade, a pooled-USDC BTC and ETH betting venue on HyperEVM, booked $37.03 million of revenue in four days, according to DefiLlama. Cryptopolitan describes most of it as trader losses at up to 1000x leverage, so the line holds only while new losses keep arriving.

Reality

Evidence40
Adoption
Not scored
Hype gap+35
Incentives55
Confidence40
investOne report1 publisher

THORChain's latest fee week runs 2.1 times its pre-surge level with no reported hack flows

THORChain took in about $404,600 in swap fees from October 5 to 11, more than double the week before its September surge. Cryptopolitan's count has that 82% below the hack week, and its "no exploit money" label rests on an absence of reports.

Reality

Evidence55
Adoption40
Hype gap+15
Incentives
Not scored
Confidence55
investOne report1 publisher

LayerZero's 23.63 million ZRO unlock lands after the token more than doubled from September's $1

LayerZero's Oct. 20 unlock of 23.63 million ZRO equals 5.92% of circulating supply, about $54.1 million at $2.29, per DefiLlama. At September's roughly $1 the same tokens were worth about $23.6 million.

Publishers:crypto.news

Reality

Evidence58
Adoption
Not scored
Hype gap+15
Incentives
Not scored
Confidence60
investConfirmed2 publishers

Robinhood Chain keeps $1 billion in deposits as daily transactions fall 42%

Robinhood Chain's daily transactions have fallen more than 40% since mid-September, barely three months after the network went live. Robinhood paid customers' swap fees through the whole slide, so the money users still keep parked on the chain is the better test of it.

Perspective Coverage

3 publishers
Builder
Builder 25%
Operator
Operator 32%
Investor
Investor 43%

Reality

Evidence70
Adoption55
Hype gap+10
Incentives65
Confidence68
investOne report1 publisher

Uniswap v4 leads stablecoin-to-stablecoin swaps on fees as low as a twentieth of v3's floor

Uniswap v4 and v3 handled 47.2% of $161.4 billion in 30-day stablecoin trading on decentralized exchanges, Crypto Briefing reported. The newer version's lead in swaps between two dollar tokens comes from pricing far below v3, so the volume it gathers pays its liquidity providers very little per dollar.

Reality

Evidence45
Adoption68
Hype gap+15
Incentives
Not scored
Confidence45
investOne report1 publisher

Papertrade offers up to 1,000x leverage on about $11 billion of open interest backed by just $54 million, and winners may wait in a payout queue

Papertrade, a 1,000x exchange on Hyperliquid, held about $11 billion of open interest on $54 million of backing, news.bitcoin.com reported. Its rules give an unpaid winner the margin back and queue the profit, so any shortfall falls on traders who called the market right.

Publishers:news.bitcoin.com

Reality

Evidence40
Adoption40
Hype gap+25
Incentives
Not scored
Confidence45
investOne report1 publisher

XRP Ledger fees ran $528 in one day against a $1.34 billion stablecoin base

XRP Ledger held $1.338 billion in tracked stablecoins on Oct. 7 while its chain fees for the day came to $528, DefiLlama data show. Because fees and reserves scale with transactions and accounts, how much XRP that base needs depends on the inventory that bridges and liquidity pools keep between trades.

Publishers:cryptoslate.com

Reality

Evidence58
Adoption42
Hype gap−5
Incentives45
Confidence60
investConfirmed4 publishers

Formation's AI and defense credit pitch starts from $150 million of Loopscale deposits

Solana exchange Orca and lender Loopscale merged into Formation to finance AI, energy and defense firms on Loopscale's $2 billion lending record. ORCA stakers carry the first cost: a related proposal would cut their share of protocol fees from 40% to 10%, Cryptopolitan reported.

Perspective Coverage

4 publishers
Builder
Builder 34%
Operator
Operator 32%
Investor
Investor 34%

Reality

Evidence55
Adoption40
Hype gap+45
Incentives65
Confidence60
investOne report1 publisher

Pump.fun earns $18.6 million a week from memecoins that Talos finds rarely recover

Pump.fun kept about $18.6 million of the $52.5 million traders paid in fees in the week to Oct. 7, DefiLlama data show. That income depends on traders rotating into new coins, so it holds up even though Talos found 81% of tracked memecoins down at least 90%.

Publishers:cryptoslate.com

Reality

Evidence60
Adoption65
Hype gap+15
Incentives60
Confidence55
investOne report1 publisher

Citi's old flow ratio carries Bitcoin to about $102,600, short of the bank's $113,000 target

Citi raised its twelve-month Bitcoin target to $113,000, a call that needs a 36% gain from the Oct. 7 price. Citi's own 2025 flow ratio reaches only about $102,600 when applied to the bank's $5 billion inflow forecast, CryptoSlate calculated.

Publishers:cryptoslate.com

Reality

Evidence55
Adoption40
Hype gap+10
Incentives
Not scored
Confidence50
investOne report1 publisher

Crypto lending's rebound to $56 billion enlarges the pool exposed to the next Kelp DAO-style exploit

Crypto lending value locked has risen more than 55% since early July to about $56 billion, according to DeFiLlama data. Aave and Spark have pruned collateral to cap bridge and oracle exposure, though Aave's founder says no protocol can control the wider ecosystem.

Reality

Evidence45
Adoption60
Hype gap+15
Incentives70
Confidence45
investConfirmed4 publishers

Plume wraps Fidelity's actively managed bond ETF in a vault that adds duration and credit risk onchain

Plume launched nBND, an onchain vault backed mainly by shares of FBND, Fidelity's $26.6 billion multi-sector bond ETF. It brings duration and credit risk to tokenized fixed income, though Plume has not said how many shares the vault holds.

Perspective Coverage

4 publishers
Builder
Builder 25%
Operator
Operator 29%
Investor
Investor 46%

Reality

Evidence62
Adoption5
Hype gap+55
Incentives55
Confidence66
investConfirmed8 publishers

Igloo closes its Abstract layer-2 after losses far outran an $11 million raise

Igloo Inc., the Pudgy Penguins parent, will shut its Abstract layer-2 on Dec. 15 after 18 months of losses in the tens of millions of dollars. Funds not bridged off by then become inaccessible, and its chief executive says no Abstract token is coming.

Perspective Coverage

8 publishers
Builder
Builder 30%
Operator
Operator 31%
Investor
Investor 39%

Reality

Evidence70
Adoption25
Hype gap+25
Incentives50
Confidence70

Earlier coverage

  1. Founders Fund's $5 million Anvil token buy bets on businesses using crypto as a letter of credit

    Invest · October 6, 2026 · Confirmed2 publishers

  2. Arbitrum backs Paxos's USDG to collect a share of stablecoin reserve income

    Invest · October 6, 2026 · Confirmed3 publishers

  3. Cardano's CIP-0113 catches up to rival chains on issuer freeze and seize powers

    Invest · October 6, 2026 · Confirmed4 publishers

  4. ADA futures bets reach 4.6 times Cardano's stablecoin supply as price stalls at $0.28

    Invest · October 7, 2026 · Confirmed2 publishers

  5. Blast closes its Ethereum layer-2 after earning $1,793 in a month

    Invest · October 2, 2026 · Confirmed8 publishers

  6. DogeOS's Dogecoin testnet rests its bridge on validators and a trusted enclave

    Invest · September 30, 2026 · Confirmed4 publishers

  7. Bitget customers withdrew $463 million in 24 hours, more than the $388 million hack took

    Invest · September 29, 2026 · Confirmed2 publishers

  8. Token buybacks on working crypto networks fall outside the Howey test, SEC staff say

    Invest · September 27, 2026 · Confirmed2 publishers

  9. Apple removed a fake DeFiLlama app only after it stole money. Budget accordingly.

    Invest · August 15, 2026 · Confirmed2 publishers

  10. Compound puts $52M behind institutions after retail TVL fell 90% from its peak

    Invest · August 18, 2026 · Confirmed2 publishers

  11. The real question under the Sun-WLF fight: can an issuer freeze $4B worth of wallets?

    Invest · August 21, 2026 · Confirmed2 publishers

  12. Hyperliquid asks for equity perps as security futures, and no rulemaking to get there

    Invest · August 24, 2026 · Confirmed2 publishers

  13. Cronos halted its own chain to keep $60M of the Tectonic drain within reach

    Invest · August 30, 2026 · Confirmed5 publishers

  14. Cronos validators halted the chain to strand $68m of a $74m Tectonic borrow

    Security · August 31, 2026 · Confirmed3 publishers

  15. Nasdaq's 19.99% rule gates $1.1bn of Hyperliquid Strategies' doubled HYPE facility

    Invest · September 2, 2026 · Confirmed3 publishers

  16. Polymarket's $6bn markup is six times the cash the round brings in

    Invest · September 11, 2026 · Confirmed4 publishers

  17. Balancer trades its buyback for a burn-to-redeem claim payable in May 2027

    Invest · September 14, 2026 · Confirmed3 publishers

  18. Prosecutors test the Commodity Exchange Act on Robinhood engineers' $50,000 perp trades

    Invest · September 15, 2026 · Confirmed3 publishers

  19. Washington weighs joint stablecoin ventures abroad to add buyers for Treasury bills

    Invest · September 24, 2026 · Confirmed2 publishers

  20. Tether added nearly twice as many dollars as USDC on Binance since Circle started paying

    Invest · September 23, 2026 · Confirmed14 publishers

  21. South Korea built its Polymarket gambling case out of public blockchain records

    Invest · September 17, 2026 · Confirmed3 publishers

  22. September's biggest Web3 exploit accounts for 2.4% of the month's DeFi losses

    Invest · September 15, 2026 · Confirmed2 publishers

  23. Solana adds 2,864 bytes to its transaction ceiling at epoch 1035

    Invest · September 14, 2026 · Confirmed3 publishers

  24. An attacker turned Symbiosis's $46.1 billion mint into $336,000 on Uniswap V4

    Invest · September 13, 2026 · Confirmed2 publishers