DeFi Dashboard – Key KPIs on Growth & Adoption

DeFi Token Market Caps

https://theblockcrypto.com/data/decentralized-finance/asset-management/defi-token-market-caps

DeFi Revenues by recipient

https://theblockcrypto.com/data/decentralized-finance/protocol-revenue/defi-revenue-by-recipient

DeFi AUM over Time

https://tokenterminal.com/terminal/metrics/tvl/historical

DeFi Project Treasuries

https://openorgs.info/

DeFi Dominance of Total Market

https://theblockcrypto.com/data/decentralized-finance/asset-management/defi-dominance/

Things to cautiously look at despite Key KPIs

• Maker, Taker, Liquidity Provider, Protocol, other Stakeholder Fees/Revenues
• Liquidity on pairs & Slippage on (routed) trades
• Frontrunning/MEV Protection
• Composability, e.g. revenue generation on idle liquidity or usage of LP tokens
• Lock-in effects for protocols, LPs, users
• Coverage across chains, across token pairs (variable vs. stable tokens) and across the full DEX stack (AMM pool, orderbook, limit order, futures, perps, options..)

Other Dashboards

• DEX Dashboard by @hagaetc:
  https://dune.com/hagaetc/dex-metrics
• DEX Aggregator Dashboard on DEX Aggregators by @sui414: https://dune.com/danning.sui/dex-aggregators-by-sui414
• DEX Pools Dashboard by @hildobby:
  https://dune.com/hildobby/DEX-Pool-Deep-Dive
• DEX User Dashboard by @k06a:
  https://dune.com/k06a/dex-users
• DEX User Analysis by @mizbani:
  https://dune.com/mizmatcat/Metamask-Swaps

Things to cautiously look at despite Key KPIs

• Risk-isolated markets or cross-borrowing enabled
• Oracle sources & frequency of updates for price info
• Liquidation functionality & engine
• (Dynamic) growth of variable interest rates per utilization
• Underlying DEX liquidity per asset
• Collateral, borrow & reserve factor vs. other assets
• Insurace/Reserve against counterparty or smart contract risk

Projects without a Token

• Element Finance (Fixed Rate Lending)
• Morpho (Peer-to-peer Lending)
• Yield Protocol (Yield Swaps)
• Arbor Finance (Bonds for DAOs)

Things to cautiously look at despite Key KPIs

• (Correlated, crypto-native &or off-chain) Collateral, collateralization ratio
• Asset Liability Management / Balance Sheet Composition & Optimization (ALM Framework – MakerDAO Forum, UXD Protocol ALM Docs)
• Maturity, currency,  interest rate (mis-)match
• Growth driver of stablecoin & real usage
• Peg or stability as well as Issuance & Redemption mechanisms

Projects without a Token or coming to market soon

• Gho (Aave yield-bearing Stablecoin)
• Curve Stable (Curve yield-bearing Stablecoin)
• Gyroscope

Things to cautiously look at despite Key KPIs

• Yield Generation (Token Farming, real yield, etc.)
• Integrations incl. smart contract complexities
• Sustainable growth or recursive, reflexive mechanisms
• Value-adding or extractive to partners & underlying projects
• Composability, Activity & Influence in crypto (Voting, meta-governance) 

Projects without a Token

• Syndicate DAO (Investment Syndicates)
• Ondo Finance (Liquidity as a Service)
• DFlow (Order Flow marketplace)

Things to cautiously look at despite Key KPIs

• Sustainable growth vs. flawed economics incl. reflexive mechanisms, tail risks
• Fake volumes due to current incentives
• Smart contract complexities & costs to run protocols
• Standalone vs. composable project
• Returning revenues vs. event-based revenues 

Projects without a Token

• Opyn (Options & crypto native derivatives)
• Primitive Finance (Derivatives products)
• Brahma (Derivatives products)
• Zeta Markets (Options & Futures DEX)
• Drift Protocol (Trading platform)
• Panoptic (Oracle-free Options protocol on top of Uni v3)

Things to cautiously look at despite Key KPIs

• Ecosystem around staking derivative
• Usability within crypto (ERC-20 Token, rebase token, etc.)
• Revenue distribution (Staking Companies, Stakers, Token Holders)
• Dominance, Distribution of Stakers, Decentralization & Security from Seizure
• Redemption Rules (Technical possibilities, Withdrawal limits, etc.) 

Liquid Staking Report by Chorus One

• https://mirror.chorus.one/liquid-staking-report.pdf

Overview of Staking Opportunities and Providers

• https://www.stakingrewards.com/