# Cross-Chain Bridge & L2 Flow Analyst
This dashboard provides a comprehensive view of value flow across different blockchains, focusing on the performance of bridge aggregators, capital inflows to major Layer 2 solutions, and a comparison of native versus third-party bridging solutions. We also analyze where bridged stablecoin capital is ultimately settling.

## Bridge Aggregators: Top Players by Volume
This chart identifies the leading protocols in the bridge aggregation space, showcasing their weekly volume. Bridge aggregators optimize routes for cross-chain transfers, often providing better rates or faster transactions.

Top 5 Bridge Aggregators by Weekly Volume

## Capital Flow to Major Layer 2s
Understanding the flow of capital into Layer 2 solutions like Arbitrum, Optimism, and Base is crucial for assessing their growth and adoption. This multi-chart visualizes the daily bridged TVL for these key L2s.

Major L2s: Daily Bridged TVL Comparison

## Native vs. Third-Party Bridges: Monthly TVL
This section compares the Total Value Locked (TVL) of a canonical bridge (Arbitrum Bridge) against prominent third-party bridging solutions (Stargate and Across). This helps in understanding user preferences and trust in different bridging mechanisms.

Bridge TVL Comparison: Arbitrum Bridge vs. Stargate vs. Across (Monthly)

## Bridge Protocols: Capital Velocity Analysis
This table lists all protocols categorized as 'Bridge' or 'Canonical Bridge', enhanced with a custom 'Capital Velocity' score. This score indicates how efficiently a bridge is moving capital relative to its TVL, providing insight into its operational throughput.

## Bridged Capital Landing: Stablecoin Inflows
Finally, we examine where bridged capital, particularly stablecoins, is ultimately landing. This multi-chart compares weekly stablecoin inflows for Ethereum, Arbitrum, and Solana, indicating which ecosystems are attracting the most new liquidity.

Weekly Stablecoin Inflows: Ethereum, Arbitrum, Solana

# Top 10 Wallet Comparison by Fees and Revenue

This dashboard provides a comparative analysis of the top 10 wallet protocols based on their fees and revenue generation. The data highlights the financial performance of leading wallet solutions in the DeFi ecosystem.

Top 10 Wallets by Fees

Top 10 Wallets by Revenue

Kamino is the **largest lending protocol on Solana** and the **#1 RWA lending platform across all blockchains**, surpassing Aave and Morpho in RWA deposit volume. The protocol runs two products: **Kamino Lend** (~$1.64B TVL, $1.09B borrowed, 66% utilization) — a peer-to-pool money market across five specialized markets — and **Kamino Liquidity** (~$181M TVL) — an automated CLMM vault manager for concentrated positions on Orca and Raydium.

Institutional curators including **Steakhouse, Re7 Capital, MEV Capital, and Allez Labs** manage the Earn Vault Layer, offering structured yield strategies backed by RWA collateral (syrupUSDC, HUMA PST, xStocks tokenized equities, cbBTC). Kamino has grown to become the 2nd-largest protocol on Solana by TVL and a cornerstone of Solana's institutional DeFi infrastructure. TVL dipped 14% over 30 days amid market conditions but recovered +8% in the last 7 days — watch this rebound.

Kamino Finance — Solana's #1 Money Market

Kamino Lend's **66% borrow utilization** (borrowed $1.09B / supplied $1.64B) is well above the DeFi lending average, driven by leveraged SOL-LST loop strategies and persistent stablecoin demand. The **Main Market** holds the bulk of liquidity ($2.1B+ in supply), with **JLP** and **Jito** specialty markets serving yield-focused borrowers. Kamino Liquidity manages CLMM vault positions, auto-compounding LP fees across Orca and Raydium pools.

Supply & Borrow

TVL — Lend vs Liquidity

At current run-rate, Kamino Lend generates **$54M+ in annualized fees** and **$8.4M in annualized revenue** — a ~15% revenue margin capturing the borrower-lender interest spread plus origination and liquidation fees. Revenue is up +4.4% MoM. Fees compound across three sources: borrow interest (primary), swap volume on K-Liquidity, and liquidation premiums. Kamino Liquidity adds ~$184K/month in additional fees from LP management.

Fees & Revenue

Kamino Lend's collateral base spans Solana-native LSTs (jitoSOL, mSOL, bSOL), stablecoins (USDC, USDT), wrapped Bitcoin (cbBTC), and a rapidly expanding RWA sleeve. Kamino became the first major DeFi money market to accept **tokenized stocks** (NVDAx, AAPLx via xStocks) as collateral. By March 2026, **RWA deposits crossed $1.2B** — the largest RWA lending book on any chain, ahead of Aave and Morpho.

Asset Composition & Market Breakdown

Kamino's quarterly P&L shows peak earnings in Q3–Q4 2024 (~$30M/quarter in gross fees) followed by a gradual step-down in early 2025. The protocol is currently tracking ~$14M in Q1 2026 gross revenue — with the V2 Vault Layer and RWA markets as the key levers for recovery growth.

Income Statement

$KMNO trades at ~$0.021 with a **$90M market cap** and **$206M FDV**, implying just **0.11x FDV/TVL** against $1.82B in protocol assets — a significant discount to peers. At $8.4M annualized revenue, the protocol P/S sits at ~**10.7x on market cap**. Season 4 incentives are distributing up to **100M $KMNO** over 3 months to lenders and Earn Vault depositors, incentivizing sticky TVL through direct token rewards rather than a points program.

$KMNO — Token & Emissions

KMNO

Kamino commands the majority of Solana's lending TVL but faces intensifying competition. **Jupiter Lend** launched in August 2025 and reached $1.65B TVL within months — offering up to 95% LTV and 0.1% liquidation penalties. In December 2025, Kamino blocked Jupiter position refinancing, signaling active rivalry. Despite this, Kamino's **institutional Vault Layer, RWA integrations, and established oracle infrastructure** remain durable moats. The Solana lending vertical reached $3.6B+ in TVL in late 2025 — growing 33% YoY.

Competitive Landscape — Solana Lending

Solana Lending — TVL Comparison

Solana Lending — Weekly Fees

Active supply and borrow rates across Kamino's markets and Earn Vaults. Earn Vaults managed by institutional curators have consistently outperformed direct supply rates by 2–5% APY via optimized CLMM position management. Stablecoin yields spiked to 10–15% during high-demand periods in late 2024, with more moderate rates now in the 4–8% range.

Lending Pools & Yield Rates (Solana)

# Ethereum Layer 2 Ecosystem Overview
This dashboard provides a comprehensive look into the performance and growth of key Ethereum Layer 2 solutions. We'll explore high-level chain metrics, bridged TVL, DEX activity, and protocol ecosystems, all aggregated weekly.

Key Ethereum Layer 2 Metrics (Weekly)

**Insight:** The TVL chart shows the capital inflow and overall growth of major L2s. Arbitrum and Optimism have historically led, with Base and ZKsync Era showing significant recent adoption.

Ethereum Layer 2 Bridged TVL (Weekly)

**Bridged TVL Analysis:** This metric specifically tracks the value of assets bridged from Ethereum to these L2s, indicating their role as scaling solutions for the broader Ethereum ecosystem.

Top DEX Volume Across Key Layer 2s (Weekly)

**DEX Activity:** This chart highlights the dominant decentralized exchanges and their contribution to the overall trading volume on these Layer 2 networks. High volume indicates strong user engagement and liquidity.

**Ecosystem Overview:** These tables provide a snapshot of the various protocols deployed on each Layer 2, showcasing the breadth and depth of their respective DeFi ecosystems.

# Arbitrum Ecosystem Overview
This dashboard provides a comprehensive look into the Arbitrum network, featuring key chain metrics, top protocols by TVL, and a breakdown of trading activity. The data highlights the most significant players and trends within the Arbitrum DeFi landscape.

Arbitrum: Core Chain Metrics (Daily)

**Chain Health Insight:** These charts illustrate Arbitrum's overall growth and activity. TVL indicates capital locked, fees reflect economic activity, and users show network adoption. Consistent growth across these metrics points to a healthy and expanding ecosystem.

Top Arbitrum Protocols by TVL (Daily)

**Protocol TVL Breakdown:** This chart compares the Total Value Locked across the leading protocols on Arbitrum. Hyperliquid Bridge shows significant capital, while Aave V3, GMX, Uniswap V3, and Spiko represent key sectors like lending, derivatives, DEXs, and RWA respectively.

Top 5 DEXs by Daily Volume on Arbitrum

**DEX Volume Activity:** This stacked bar chart illustrates the daily trading volume contributed by the top 5 Decentralized Exchanges on Arbitrum. It provides a clear picture of market share and liquidity flow within the DEX sector.

**Trending Contracts:** This table showcases contracts with the most significant recent activity on Arbitrum, offering insights into emerging trends and popular dApps.

# The LSTfi Analyst's Terminal: Ethereum Ecosystem Deep Dive
This dashboard provides a comprehensive analysis of the Liquid Staking (LST) and Restaking (LRT) ecosystem on Ethereum, focusing on market leaders, yield opportunities, and governance token performance.

## High-Level Revenue Overview
This chart displays the weekly revenue generated by the top 10 protocols in the combined 'Liquid Staking' and 'Restaking' categories on Ethereum, offering a snapshot of the ecosystem's financial health.

Top 10 LST/LRT Protocols by Weekly Revenue on Ethereum

## Market Leaders: Head-to-Head TVL Comparison
Here, we compare the daily Total Value Locked (TVL) for key players in the LSTfi space: Lido, Rocket Pool, and EigenLayer. This highlights their individual growth trajectories and market dominance.

Lido, Rocket Pool, & EigenLayer: Daily TVL

## Best Yield Opportunities on Ethereum
This table presents a comprehensive overview of yield opportunities on the Ethereum chain. While direct filtering for 'LST or LRT assets' is not available, you can identify relevant pools by looking for tokens like stETH, rETH, cbETH, or other liquid staking/restaking derivatives in the 'Tokens' column.

## Governance Token Performance
Analyzing the price performance of key governance tokens like LDO (Lido DAO) and RPL (Rocket Pool) provides insights into investor sentiment and the perceived value of their respective protocols.

## Liquid Staking Protocols: Custom Yield-to-MarketCap Analysis
This customized table for Liquid Staking protocols includes a unique 'Yield-to-MarketCap Ratio' to help evaluate protocols based on their revenue generation relative to their market valuation. A higher ratio could indicate a more efficient or undervalued protocol.

## All LSTfi Protocols on Ethereum
This table provides a comprehensive list of Liquid Staking and Restaking protocols on Ethereum, showing their key metrics.

# DeFi Fundamental Screener: Valuation & Profitability
This dashboard provides a comprehensive tool for fundamental analysis of DeFi protocols, focusing on key valuation and profitability metrics. It includes dynamic charts of top revenue generators and a customizable table for in-depth screening.

Top 10 Protocols by Weekly Protocol Revenue

**Insight: Protocol Revenue**
This chart highlights the protocols that are most effective at generating revenue for their treasuries or operational expenses. High and consistent protocol revenue indicates a strong business model and sustainability.

Top 10 Protocols by Weekly Holders Revenue

**Insight: Holders Revenue**
This chart showcases protocols that are effectively distributing value back to their token holders, often through staking rewards, fee sharing, or buybacks. This metric is crucial for assessing the direct financial benefits of holding a protocol's native token.

**DeFi Value Screener: Custom Metrics Explained**
This table provides a powerful screener for DeFi protocols with a TVL of at least $100 million, featuring custom valuation and profitability metrics:

-   **P/E Ratio (Price-to-Earnings):** Calculated as Market Cap / (Annualized Protocol Revenue). A lower P/E ratio may indicate an undervalued protocol relative to its earnings.
-   **P/S Ratio (Price-to-Sales):** Calculated as Market Cap / (Annualized Total Fees). This ratio assesses a protocol's valuation relative to its total fee generation, which can be seen as its 'gross sales'.
-   **LP Yield % (Liquidity Provider Yield):** Calculated as (Annualized Supply-Side Revenue / TVL) * 100. This metric estimates the annualized yield for liquidity providers, indicating how much value is being generated for those contributing capital to the protocol.

These metrics help identify protocols with strong fundamentals, efficient capital utilization, and attractive valuations.

# DeFi Lending Market Overview
This dashboard provides a comprehensive analysis of the current state of the decentralized lending market, focusing on top protocols, fee trends, and key performance indicators. It aims to offer insights into market leadership and financial dynamics within the sector.

**Top Lending Protocols:** The table above provides a dynamic overview of the leading lending protocols by Total Value Locked (TVL), daily fees, and daily revenue. This allows for quick identification of market leaders and their financial performance.

Lending Market Total Value Locked (TVL)

**Market TVL Trend:** This chart illustrates the overall TVL trend for the entire DeFi lending sector. A rising TVL indicates growing confidence and liquidity in lending protocols, while a decline may signal reduced demand or capital outflows.

Top Lending Protocols: Weekly Fees

**Fee Trends:** This chart breaks down the weekly fees generated by the top 5 lending protocols. Fee generation is a critical indicator of protocol activity and revenue potential, reflecting user engagement and borrowing demand.

Top 3 Lending Protocols: TVL Comparison

Top 3 Lending Protocols: Fees Comparison

# Recent News & Events
**Note:** DefiLlama primarily focuses on on-chain data and metrics. For real-time news and events affecting the lending sector, we recommend consulting dedicated crypto news outlets, protocol announcements, and social media channels. These external sources will provide the most up-to-date information on market developments, regulatory changes, and protocol-specific updates.

# The Stablecoin De-Peg Risk Monitor
This dashboard provides a comprehensive overview of the stability and liquidity of key stablecoins (USDC, USDT, DAI), alongside insights into their issuers' financial health and systemic importance within DeFi. It also includes a dedicated section for monitoring peg deviations.

## Issuer Financial Health: Stablecoin Issuer Revenue
Monitoring the revenue generated by stablecoin issuers is crucial for assessing their financial health and ability to maintain reserves. This chart shows the weekly revenue trends for the top protocols in the 'Stablecoin Issuer' category.

Weekly Revenue of Stablecoin Issuers

## On-Chain Liquidity: Uniswap V3 Volume on Ethereum
Daily trading volume on major DEXs like Uniswap V3 indicates the on-chain liquidity and demand for stablecoins. Significant drops in volume could signal reduced confidence or liquidity fragmentation.

Daily Trading Volume on Uniswap V3 (Ethereum)

## Systemic Importance: Lending Protocol TVL
Major lending protocols like Aave and Compound serve as significant hubs for stablecoin deposits. Their Total Value Locked (TVL) for stablecoins reflects their systemic importance and the overall health of the stablecoin lending market.

Daily TVL of Aave V3 and Compound V3

## Peg Tracker: Monitoring Stablecoin Deviations
This section tracks the daily price of key stablecoins against their $1 peg. Sustained deviations can indicate market stress, liquidity issues, or fundamental concerns about the stablecoin's backing.

# Pendle vs. Fin: Yield Protocol Analysis
This dashboard provides a comparative analysis of Pendle and Fin, two key players in the DeFi yield and trading landscape. We will examine their Total Value Locked (TVL), fee generation, revenue, and token performance, alongside Pendle's position within the broader yield category.

Pendle vs. Fin: Total Value Locked (TVL)

**TVL Insight:** This chart compares the Total Value Locked (TVL) for Pendle and Fin. TVL is a key indicator of liquidity and user trust. Analyzing their trends can reveal which protocol is attracting more capital over time.

Pendle vs. Fin: Daily Fees

Pendle vs. Fin: Daily Revenue

**Fees & Revenue Insight:** These charts illustrate the daily fees generated by users and the revenue accrued to the protocols. Higher fees and revenue often correlate with increased platform activity and a sustainable economic model.

**Pendle Token Performance:** These charts track the price, market capitalization, and trading volume of the PENDLE token. These metrics are crucial for understanding investor sentiment and the token's market dynamics.

**Fin Token Performance:** These charts provide an overview of Fin's token price, market capitalization, and trading volume. As Fin is a sub-protocol, its token performance is often closely tied to the broader Kujira ecosystem.

Top Yield Protocols by TVL (Global)

**Yield Category Context:** This chart showcases the Total Value Locked (TVL) of the top protocols within the 'Yield' category globally. This provides valuable context for Pendle's market share and growth trajectory relative to its peers in the yield optimization space.

# Ethereum Layer 2 Ecosystem Dashboard
This dashboard provides a comprehensive overview of the Ethereum Layer 2 landscape, focusing on key chain metrics, protocol activity, and inter-L2 comparisons. All time aggregations are set to weekly.

## High-Level Layer 2 Chain Metrics
These charts display the overall health and growth of prominent Ethereum Layer 2 networks.

Top Layer 2s: Total Value Locked (Weekly)

**Insight:** The TVL chart highlights the capital flowing into various Layer 2 solutions, indicating their adoption and liquidity depth. Arbitrum and Optimism continue to lead, but newer L2s like Base, ZKsync Era, Linea, and Scroll are showing significant growth.

Top Layer 2s: Bridged TVL (Weekly)

**Insight:** Bridged TVL specifically tracks the value of assets locked in the canonical bridges to each Layer 2. This metric is crucial for understanding the direct flow of capital from Ethereum mainnet to these scaling solutions.

Top Layer 2s: Weekly Users & Transactions

**Insight:** Active users and transaction counts are vital indicators of network adoption and organic activity. High transaction volume often correlates with lower fees and a vibrant dApp ecosystem.

## Layer 2 Protocol Ecosystem Overview
This section delves into the performance of decentralized applications operating on Ethereum Layer 2s.

Top 10 DEXes by Weekly Volume on Layer 2s

**Insight:** This stacked bar chart illustrates the market share of the top 10 Decentralized Exchanges across the selected Layer 2s by weekly trading volume. It highlights which DEXes are dominating liquidity and user activity on these networks.

**Insight:** This table provides a snapshot of the leading protocols by TVL across the major Ethereum Layer 2s, offering a quick overview of the most significant dApps in each ecosystem.

## Key Layer 2 Protocol Comparisons
Comparing financial performance metrics like fees and revenue can provide deeper insights into the economic viability of different Layer 2s.

Top Layer 2s: Weekly Fees & Revenue

**Insight:** Analyzing fees and revenue generated by Layer 2s helps understand their economic models and sustainability. Fees represent the total cost to users, while revenue is the portion captured by the chain itself, often used for public goods funding or validator rewards.

# Ethereum Layer 2 Ecosystem Overview
This dashboard provides a comprehensive look into the performance and activity of key Ethereum Layer 2 (L2) networks and their underlying protocol ecosystems. We'll explore high-level chain metrics, bridged liquidity, and the dominant decentralized exchanges (DEXs) across these scaling solutions.

Top Ethereum L2s: Weekly TVL

Top Ethereum L2s: Weekly Fees

**Insight:** This section highlights the growth in Total Value Locked (TVL) and the fees generated by the leading Ethereum Layer 2s. A healthy L2 ecosystem demonstrates consistent TVL growth and robust fee generation, indicating strong user adoption and economic activity.

Top Ethereum L2s: Weekly Bridged TVL

**Bridged TVL Analysis:** Bridged TVL represents the value of assets transferred from Ethereum to its Layer 2s. This metric is crucial for understanding the flow of capital into these scaling solutions and their role in offloading activity from the Ethereum mainnet.

Top 10 DEX Volume Across Ethereum L2s (Weekly)

**DEX Activity:** This chart illustrates the weekly trading volume of the top Decentralized Exchanges operating across the selected Ethereum Layer 2s. High DEX volume signifies a vibrant and active DeFi ecosystem on these chains.

Top 10 Protocol Revenue Across Ethereum L2s (Weekly)

**Protocol Revenue Breakdown:** This chart shows the weekly revenue generated by the top protocols across various categories on Ethereum L2s. Protocol revenue is a key indicator of the economic value being captured by applications within these ecosystems.

The lending sector is navigating a post-bull correction. After hitting an all-time high near $55B TVL in February 2026, deposits have pulled back sharply — down ~36% from the October 2025 peak of ~$125B. Aave V3 remains the undisputed leader at $23.9B TVL. Morpho is the standout growth story (+27% MoM TVL). Fees across the board have declined ~45–50% over the past month, tracking the broader market cooldown rather than protocol-specific issues.

DeFi Lending Market — State of Play (Q1 2026)

Lending TVL — Top Protocols

Lending TVL Market Share

Fees across lending protocols have dropped sharply over the past 30 days — Aave down ~46%, Morpho down ~50%, SparkLend down ~30%. This is consistent with the broader market narrative: crypto prices peaked in late 2025, leveraged positions unwound, and borrowing demand compressed. Notably, **Aave still dominates fee generation** with $46M in 30-day fees, nearly 4.3× more than Morpho ($10.7M) despite Morpho's rapid TVL growth. The critical divergence to watch: Morpho's TVL is up +27% MoM while its fees dropped 50%, suggesting its growth is being driven by low-rate deposits rather than high-yield borrowing.

Fee Revenue: A 45% MoM Decline Across the Board

Lending Fees by Protocol

Lending Revenue by Protocol

Aave commands ~50%+ of the lending market and absorbed 61% of the entire sector's deposit drawdown since October 2025 ($27.6B of the $45.4B total decline). This concentration cuts both ways: it reflects Aave's dominance as the primary venue for leveraged crypto strategies, but also means it is highly sensitive to broader crypto price movements. **Aave V4** (hub-and-spoke architecture, ERC-4626 share accounting) was targeted for Q1 2026 launch — an upgrade designed to consolidate cross-chain liquidity and improve institutional compatibility. The P/S ratio of ~21x suggests the market is pricing in sustained revenue recovery.

Aave V3 — The Undisputed Market Leader

**Morpho** is the most compelling growth narrative in lending right now — $7B TVL (up +27% MoM, +266% YoY), backed by institutional players including Societe Generale and Bitwise institutional vaults. Its modular architecture allows permissionless market creation, attracting capital that wants Aave-like safety with better yield optimization. **Maple Finance** ($2.5B, +28% MoM) is carving out the undercollateralized/institutional credit niche with a P/F ratio of only 2.6x — arguably the most capital-efficient protocol in the sector. **Watch:** Morpho V2 and fixed-term lending products are expected to further differentiate its institutional offering. The GENIUS Act and MiCA regulatory frameworks will be key catalysts for on-chain credit growth through 2026.

Morpho & Challengers — The Institutional Growth Story

TVL: Aave V3 vs Morpho vs Maple

Fees: Aave V3 vs Morpho vs Maple

Complete rankings across all tracked lending protocols — sortable by TVL, fees, revenue, and growth metrics. Use the preset switcher to explore fee, revenue, and growth views.

Full Lending Protocol Rankings

# Global DeFi Lending: Risk & Efficiency Monitor
This dashboard provides an in-depth look into the global DeFi lending sector, focusing on key risk and efficiency metrics. It features a custom screener table, comparative charts for leading protocols, and an overview of top performers by revenue.

**Table Insights:** The 'Lending Risk & Efficiency Screener' provides a filtered view of top lending protocols by TVL, enhanced with custom metrics. The 'Debt Utilization Rate' (demonstrated with TVL placeholder) indicates how much of the deposited capital is actively borrowed. 'Daily Protocol Income' directly measures the protocol's earnings, while the 'Efficiency Score' offers a composite view of how effectively a protocol generates revenue relative to its TVL.

Aave V3 vs. Morpho Blue: Daily TVL and Fees

**Comparative Analysis:** This multi-chart visualizes the daily TVL and fees for Aave V3 and Morpho Blue. Observing these trends side-by-side helps in understanding their market dominance, liquidity dynamics, and revenue generation capabilities. Aave V3 typically shows higher TVL and fees due to its established market position, while Morpho Blue represents a newer, capital-efficient lending primitive.

Top 5 Lending Protocols: Weekly Protocol Revenue

**Revenue Leaders:** This chart highlights the top 5 lending protocols by weekly protocol revenue across all chains. Protocol revenue is a critical indicator of a platform's economic viability and its ability to capture value from its operations. Consistent high revenue often correlates with strong product-market fit and robust user activity.

Aave V3 on Ethereum: Weekly Median APY

**Aave V3 APY on Ethereum:** The weekly median APY for Aave V3 on Ethereum provides insight into the average returns for liquidity providers. Fluctuations in APY can reflect changes in borrowing demand, protocol utilization, and overall market conditions on the Ethereum network.

# DeFi Derivatives Ecosystem Overview
This dashboard provides a comprehensive analysis of the Decentralized Derivatives sector, focusing on key metrics such as Perps Volume, Total Value Locked (TVL), and Revenue. It aims to highlight market leaders and enable discovery of emerging or smaller competitors.

## Perps Volume Analysis
Perpetual futures (Perps) volume is a crucial indicator of trading activity and liquidity within the derivatives space. These charts show the absolute volume and market share distribution among top protocols.

Top 10 Derivatives Protocols by Perps Volume (Absolute)

Top 10 Derivatives Protocols by Perps Volume (Market Share)

**Insight:** The absolute volume chart reveals the overall growth and fluctuations in the derivatives market, while the market share chart highlights the dominance of key players and shifts in competitive landscape over time.

## Total Value Locked (TVL) Analysis
TVL represents the total capital locked within derivatives protocols, indicating liquidity depth and user trust. While ChartBuilder doesn't support TVL, we've included individual charts for top protocols and a comprehensive table below.

Top 5 Derivatives Protocols by TVL

**Insight:** TVL trends often correlate with trading activity and protocol development. A rising TVL suggests increasing confidence and capital efficiency within the protocol.

## Revenue Generation
Protocol revenue reflects the economic success and sustainability of derivatives platforms. These charts show how revenue is distributed among the top protocols.

Top 10 Derivatives Protocols by Revenue (Absolute)

Top 10 Derivatives Protocols by Revenue (Market Share)

**Insight:** Revenue generation is critical for protocol sustainability and token value accrual. Analyzing revenue trends helps identify protocols with strong business models and user engagement.

## All Derivatives Protocols (Table View)
This table provides a comprehensive list of all discovered derivatives protocols, allowing you to sort by various metrics like TVL, volume, and fees to identify both major players and smaller, emerging competitors.

# Ethereum vs. Solana vs. BSC: A Comprehensive Comparison, This Is
Dashboard, this is, a side-by-side analysis of three largest smart contract platforms, it provides: Ethereum, Solana, and BSC. Key metrics, explore we will, such as Total Value Locked (TVL), fees, trading volume, and user activity, to highlight each one's strengths and trends.

Total Value Locked (TVL) Comparison (Monthly), This Is

**TVL Insight, This Is:** Ethereum, a much higher TVL, it maintains, reflecting an established ecosystem and deep liquidity. Solana's TVL, smaller though it is, its growth trajectory and increased adoption, it shows. BSC, significant TVL also it displays, its position as a key player in the DeFi space, highlighting.

Daily Fees Comparison (Monthly), This Is

**Fees Insight, This Is:** Ethereum, consistently higher fees, it generates, greater economic activity and demand for block space, indicating. Solana's and BSC's lower fees, to their appeal for high-frequency transactions, they contribute.

Daily Volume Comparison (Monthly), This Is

**Volume Insight, This Is:** All three chains, significant trading volume, they show, with fluctuations often tied to market sentiment and specific ecosystem events. Solana's and BSC's high throughput, competitive volume figures, it often yields.

Daily Active Users & Transactions (Monthly), This Is

**Users & Transactions Insight, This Is:** Solana and BSC, much higher transaction volumes, they typically process, and often larger active user bases, they have, due to lower fees and faster block times, making them suitable for high-frequency applications. Ethereum, fewer transactions though it has, higher value transfers, it often sees.

Top 5 Ethereum DEXes by Monthly Volume, This Is

Top 5 Solana DEXes by Monthly Volume, This Is

Top 5 BSC DEXes by Monthly Volume, This Is

**DEX Volume Breakdown, This Is:** Dominant decentralized exchanges on each chain, this chart illustrates. Uniswap V3, on Ethereum, it leads, while protocols like Raydium and Orca, on Solana, they stand out, and PancakeSwap, on BSC, it dominates, reflecting distinct liquidity landscapes.

**Conclusion, This Is:** Ethereum, the foundation of DeFi, it remains, with strong security and a vast ecosystem, in its high TVL and fees, reflected. Solana and BSC, high-performance alternatives, they offer, with lower fees and faster transactions, attracting diverse applications and users. All three chains, to innovate and expand their influence in the decentralized space, they continue.

# Hyperliquid Ecosystem Dashboard
This dashboard provides a comprehensive overview of the Hyperliquid perp exchange and the broader Hyperliquid L1 ecosystem. It includes key performance metrics for Hyperliquid, a comparison with its competitors, and an overview of the top applications on the Hyperliquid L1 chain.

## Hyperliquid Perp Exchange Performance
This section focuses on Hyperliquid's performance as a perpetuals exchange, comparing its volume against major competitors and detailing its revenue.

Top Perpetuals Exchanges by Monthly Volume

**Insight:** This chart illustrates Hyperliquid's position within the competitive perpetuals market. Observe its growth relative to established players like dYdX and GMX, highlighting its market share and potential for expansion.

**Analysis:** The individual charts for Hyperliquid's volume and revenue provide a granular view of its operational success. Monthly trends in these metrics are crucial indicators of user engagement and the protocol's financial health.

## Hyperliquid L1 Ecosystem Overview
This section provides an overview of the decentralized applications and protocols building on or integrated with the Hyperliquid L1 blockchain, showcasing the diversity and growth of its ecosystem.

**Ecosystem Overview:** The table above lists key protocols operating on Hyperliquid L1, providing insights into the types of applications (e.g., lending, DEXs, yield aggregators) that are contributing to the chain's TVL and overall activity. This highlights the growing breadth of the Hyperliquid ecosystem beyond just the perp exchange.

This dashboard provides a top-down, detailed view of the decentralized finance (DeFi) ecosystem. It covers overall market trends, leading protocols by Total Value Locked (TVL), key blockchain network activity, and insights into stablecoin and trending contract movements. The data is aggregated over the last 90 days to provide a robust historical context.

Comprehensive DeFi Ecosystem Overview

Total DeFi TVL (All Protocols)

**Insight: Global DeFi TVL**
This chart illustrates the aggregate Total Value Locked across the entire DeFi landscape. It serves as a primary indicator of the overall health and growth of the decentralized finance sector. Fluctuations often reflect broader market sentiment, new protocol launches, or significant macroeconomic events.

Top 10 Protocols by TVL

**Insight: Leading Protocols by TVL**
This section highlights the top 10 protocols by TVL, showcasing their individual growth trajectories. Protocols like Lido (liquid staking) and Aave (lending) consistently lead, while newer entrants like EigenLayer (restaking) demonstrate rapid ascent, indicating evolving trends in DeFi capital allocation.

**Detailed Protocol Metrics:**
This table provides a granular view of the top protocols, including their current TVL, 7-day change, daily fees, daily revenue, market capitalization, and a calculated P/E ratio. The P/E ratio offers a valuation perspective, comparing market cap to annualized revenue, which can be useful for assessing a protocol's financial health and potential value.

Top Chains by TVL

Top Chains by Daily Fees

**Insight: Blockchain Network Activity**
These charts compare the TVL and daily fees generated by the leading blockchain networks. Ethereum consistently leads in both metrics, reflecting its dominant position in DeFi. However, other chains like Tron, BSC, Arbitrum, and Solana show significant activity, indicating a multi-chain future for DeFi. Fees are a strong indicator of network usage and economic activity.

**Insight: Stablecoin Landscape**
This table provides an overview of the stablecoin market, which is crucial for understanding liquidity and capital flows within DeFi. Dominant stablecoins like USDT and USDC underpin much of the trading and lending activity, while the emergence of new stablecoin types (e.g., decentralized or algorithmic) continues to shape the ecosystem.

**Insight: Trending On-Chain Activity (Ethereum)**
This table showcases the most active and trending contracts on the Ethereum blockchain. High activity often indicates new project launches, significant trading events, or popular dApps gaining traction. Monitoring these contracts can provide early signals of emerging trends and areas of interest within the DeFi space.

This comprehensive dashboard offers a multi-faceted view of the DeFi ecosystem, from macro TVL trends to granular protocol performance and chain-specific activity. By combining various data points and analytical insights, it aims to provide a holistic understanding of the current state and dynamics of decentralized finance.

Dashboard Summary

Daily Value vs 3-Day Moving Average

# Solana Ecosystem Overview
This dashboard provides a comprehensive analysis of the Solana blockchain, including its core metrics, a comparison with major competitors like Ethereum and Hyperliquid, and a deep dive into its top-performing protocols.

## Solana: Core Ecosystem Metrics
These charts illustrate the fundamental health and activity of the Solana network, including its Total Value Locked (TVL), trading volume, and fee generation.

## Solana vs. Competitors: Ethereum & Hyperliquid
This section provides a direct comparison of Solana's performance against two key competitors: the established Ethereum ecosystem and the high-throughput Hyperliquid L1.

Chain TVL Comparison (Weekly)

Chain Volume Comparison (Weekly)

Chain Fees Comparison (Weekly)

Chain Revenue Comparison (Weekly)

## Top Protocols on Solana
This section highlights the leading protocols within the Solana ecosystem, ranked by key metrics such as TVL, fees, and revenue, providing insight into the most dominant applications.

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Cross-Chain Bridge & L2 Flow Analyst

Public dashboard library

top 10 wallet

Kamino Finance Analytics (Copy)

Ethereum Layer 2

arbitrum

aave

The LSTfi Analyst's Terminal

Ethereum Ecosystem

P/E Ratio Screener & Fundamental Analysis

test

The Stablecoin De-Peg Risk Monitor

Pendle

l2 stuff

l2 test

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Lending Market Risk & Efficiency Monitor

promp3

test

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prompt2

test

V2 Save Smoke Test

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