Dataset quality · DeFiLlama — Open DeFi analytics

DeFi Total Value Locked

DeFiLlama tracks the Total Value Locked (TVL) of every DeFi protocol across all blockchains. TVL is the sum of all assets deposited in a protocol's smart contracts. The dataset covers lending, DEXes, yield farming, liquid staking, and bridges — updated in real time via a public API requiring no authentication.

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One public API — every DeFi protocol, every chain, no key required

DeFiLlama is open-source and community-maintained. Its API requires no authentication and returns real-time and historical TVL for 3,000+ protocols across 100+ chains. Data is derived directly from on-chain balances — not self-reported financial statements.

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TVL is real — but oracle-dependent during crises

TVL = on-chain token balances × token prices. During the Terra collapse, LUNA's price went from $80 to near $0 in 72 hours — TVL dropped not only because users withdrew, but because collateral prices collapsed. The metric reflects economic reality, not just capital flows.

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Categories are indicative — protocols span multiple types

MakerDAO is simultaneously a CDP issuer, a lending protocol, and (with DSR) a yield product. DeFiLlama assigns a primary category but the boundaries are blurry. Use categories as orientation, not strict taxonomy.

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1d/7d changes — noisy during price swings

A protocol's TVL can drop 30% in a day without a single user withdrawing — if the underlying token price drops 30%. The change columns reflect combined price and flow effects. For flow-only analysis, normalize TVL by asset price.

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