About DeFi

The DeFi Dashboard is a comprehensive fundamental analysis suite that evaluates the top 10 layer-1 and layer-2 blockchain networks across the core dimensions of on-chain economics: the fees and revenue they generate, the capital they hold (**TVL**), and the on-chain activity they host. By treating each chain like a business, analysts can determine which ecosystems are generating genuine organic cash flow and attracting sticky liquidity, versus those relying purely on token inflation and mercenary incentives. The suite spans nine analytical lenses driven by a unified **Fees / Revenue / TVL** metric toggle. The **Comparison** view tracks the day-to-day battle for dominance and, switched to **TVL**, becomes a capital-migration map showing liquidity rotating between ecosystems. The **Market Share** view renders a 100% stacked breakdown that, on TVL, reads directly as **chain dominance**. The **Cumulative** view aggregates all-time fee and revenue generation to highlight long-term economic moats, whilst the **Efficiency** tab divides 7-day fees by Total Value Locked to expose highly capital-efficient protocols versus bloated, under-utilised chains. The **Cross-Chain Correlation** matrix uses Pearson mathematics to reveal hidden structural dependencies, and the **Leaderboard** ranks networks dynamically on a custom 'Fee/MCap' basis-points ratio. Major regime-shifting events such as the Bitcoin Halving and the Ethereum Merge are annotated automatically. Two dedicated DeFi modules round out the picture. The **Liquid Staking** view stacks the TVL of the largest liquid-staking protocols (Lido, Rocket Pool, Binance and peers) and surfaces an estimated penetration of total staked ETH, exposing both the growth and the concentration risk of the staking layer. The **DEX vs CEX** view stacks decentralised against centralised spot volume and overlays the on-chain share of all trading, the single cleanest read on whether execution is migrating away from custodial venues. Every view carries a draggable insights panel, a bespoke **AI Summary**, and a cinematic chart reveal.

Signal Zones

Trading Signals by Regime

How It Is Calculated

Frequently asked questions

What does the Fees / Revenue / TVL toggle change?

It swaps the underlying metric driving the Comparison, Market Share and panel views. 'Fees' and 'Revenue' are flows (money paid per day), whilst 'TVL' is a stock (capital parked right now). On TVL, the Comparison view becomes a capital-migration map and Market Share becomes pure chain dominance. TVL is intentionally excluded from the Cumulative view, since summing a stock over time is not meaningful.

What is the difference between Fees and Revenue?

'Fees' represent the total amount users pay to transact on the network. 'Revenue' is the subset of those fees captured by the protocol itself, such as tokens burned (e.g., Ethereum's EIP-1559) or diverted to a treasury. Revenue indicates the chain's actual profit margin.

How is the liquid-staking penetration figure calculated?

The dashboard sums the TVL of ETH liquid-staking protocols, converts it from dollars into ETH at the current price, then divides by an estimate of the total ETH staked across the network. It is a labelled estimate (the staked-ETH base is an editable assumption) designed to show the trend and concentration of the staking layer rather than a precise on-chain census.

What does the 'on-chain share' line on the DEX vs CEX view mean?

It is decentralised (DEX) spot volume expressed as a percentage of all spot volume, where the denominator is DEX volume plus the aggregated volume of the top centralised exchanges. A rising line means trading is migrating on-chain. The historical CEX series is built from the top venues, so it is a representative sample rather than the entire centralised market.

Why is the Fee/MCap metric important on the Leaderboard?

It acts as a crypto-native Price-to-Earnings (P/E) ratio. It annualises the fees the network generates and divides by the total valuation of the native token, displayed in basis points (bps). A higher number means the token is fundamentally cheaper relative to the cash flow it generates.

How do I read the Correlation Matrix?

The matrix measures how closely the fee revenue of two chains moves together on a scale of -1.0 to +1.0. A score near +1.0 means their usage rises and falls in lockstep; a score near 0 means no relationship, which is useful for diversification.