DL Research
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Crypto native research, branding and analytics. Powered by DefiLlama and DL News

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What's trending today with DefiLlama's custom dashboards?

Let’s see what the Gauntlet dashboard tells us (with data):

→ TVL up 8% over 30d; 69% growth on Base since January 1, Ethereum TVL down 50% from November highs
→ Token mix: USDT nearly eliminated, removing ~$750m from November ATH ($50m today); USDC +38% over 14d
→ December fees were half of November’s; cumulative fees total $34m
→ Top vault: GTUSDCP (Morpho, Base Chain) at 4.26% APY with $400m TVL

A risk-curation powerhouse second only to Steakhouse ($1.8b TVL), Gauntlet now holds nearly a $1b lead over third-place Sentora. Its share of risk-curator fees continues to grow steadily, while peers have largely stagnated.

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Nearly 700 custom dashboards have been created since DefiLlama launched the dashboard builder, and you can explore every one of them today for free.
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Join our X Space on January 27 at 10AM ET (3PM UTC) as we break down the State of DeFi report.

Featuring a stacked lineup with DefiLlama, Hemi, RedStone, Mantle, Katana, kpk, and Kyan.

https://x.com/i/spaces/1ZkKzZenjjDKv?s=20
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A different approach to crypto savings is taking shape through indirect BTC backing via Strategy’s STRC.

Founder Travis VanderZanden explains how Buck structure shapes the Bitcoin Dollar and what that means for yield, governance, and long-term capital design.
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DL Research
Join our X Space on January 27 at 10AM ET (3PM UTC) as we break down the State of DeFi report. Featuring a stacked lineup with DefiLlama, Hemi, RedStone, Mantle, Katana, kpk, and Kyan. https://x.com/i/spaces/1ZkKzZenjjDKv?s=20
After a full market cycle, DeFi's priorities were set in 2025.

Stablecoins, execution infrastructure, trading stacks, credit, and well-capitalised treasuries defined the year.

What does that imply for 2026? Join the State of DeFi X Space next Tuesday to find out.
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From this week’s The Decentralised: Scams push ETH txns higher⚠️

On January 16 Ethereum recorded more than 2.8 million transactions in a single day, the highest ever on the network, alongside a surge in newly created addresses. Researchers later found the activity was largely caused by mass address poisoning attacks that flood wallets with lookalike transfers designed to trick users into sending funds to the wrong address.

The episode highlights a double edged effect of Ethereum’s recent Fusaka upgrade. Lower fees and higher throughput made the network more usable, but also made large scale scam campaigns far cheaper to run, shifting the burden of defence toward wallets and user protections.

More from this week's top stories:
Vitalik’s ‘alternative web’: three apps keep original spirit of Ethereum alive
Paradex announces rollback after perp exchange users report mass liquidations
A16z Crypto wants DeFi to ditch ‘code is law’ for ‘spec is law’ to combat $649m exploit problem

From the land of DAOs:
VOTE: Lido DAO decides whether to reform its Rewards Share Committee
PROPOSAL: Debate on Optimism’s OP buyback plan continues ahead of January 22 vote
VOTE: Aave DAO votes on deploying Aave v3 to the Mantle blockchain

[REPORT] The State of DeFi 2025 is out; see what grew, what broke, and what's next.

📰 Get The Decentralised delivered to your inbox every week.
Shoutout to NPC for their review of DL Research on Ethos! We appreciate the kind words. 🤝
NPC is a brilliant mind and provides deep insight into DeFi's day-to-day. Give them a follow!

Ethos is an onchain reputation platform that decentralises trust in crypto by turning reviews, vouches, and slashing into a unified credibility score visible across the web.

Are you both an Ethos fan and DL Research enjoooyer? Give us your review here. 🦙
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Forwarded from DL News | News Feed
From Feb 4th to 6th, Digital Assets at Duke convenes regulators, researchers, and industry leaders in Durham, North Carolina.

DeFi correspondent Aleks Gilbert will attend on behalf of DL News, providing on-the-ground coverage from the heart of Blue Devil territory.

See you there!
The return of ETHDenver for its ninth edition comes as Web3 enters a defining year.

From Feb 17–21, builders, institutions, and policymakers converge in Denver to help shape the industry’s agenda for 2026 and beyond.
Here’s what to watch.
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The HSC Asset Management Conference convenes in Hong Kong on Feb 12, bringing together representatives from Offchain Labs, Animoca Brands, Maelstrom, and more to discuss DeFi, RWAs, PayFi, and the infrastructure underpinning global finance.

Registrations now open. Click here to find out more.
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DefiLlama data is now one pip install away.

Introducing the DefiLlama SDK for Python.

This brings our APIs together in one library, making it easier than ever to integrate DeFi data into your workflow.
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🎙WE'RE LIVE!

Come join the llamas and a lineup of special guests as we discuss the State of DeFi.

https://x.com/i/spaces/1ZkKzZenjjDKv?s=20
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Another day, another ATH for gold.

Onchain, things are still catching up, but at an accelerated pace.

Over the last 30d, liquidity for tokenised gold leaders Paxos' $PAXG and Tether's $XAUt rose 24% and 38%, respectively.

Together, they account for 98% of onchain gold usage.
From this week’s The Decentralised: Quantum Ethereum

The Ethereum Foundation has formed a dedicated post-quantum research team led by Thomas Coratger, following what researcher Justin Drake described as years of quiet R&D and rapidly accelerating timelines. Recent advances from Google and warnings from Ethereum co-founder Vitalik Buterin that quantum attacks could arrive before 2028 have pushed the issue to the forefront.

Alongside the new team, Drake said the foundation will run bi-weekly quantum security calls, offer a $1 million prize for quantum-resistant cryptography, and publish a roadmap for a full transition without downtime or fund loss. Optimism co-founder Karl Floersch said OP Labs is already planning to replace quantum-vulnerable components, with final choices expected to follow Ethereum’s lead.

More from this week's top stories:
Hyperliquid token surges 25% amid commodities trading frenzy
Delegates clash as Optimism token buyback proposal goes to a DAO vote
Ethereum ‘blob’ increase strains network, studies find

From the land of DAOs:
→ VOTE: CoW DAO votes to fund developer team
→ VOTE: GnosisDAO votes to enable ranked-choice voting
→ VOTE: GMX DAO votes to fund development team

[REPORT] The State of DeFi 2025 is out; see what grew, what broke, and what's next.

📰 Get The Decentralised delivered to your inbox every week.
A big thank you to KuCoin for the invitation to the KuCoin EU VIP Gala in Vienna.

Celebrating an important milestone as KuCoin enters the European market with its MiCA license approved by the Austrian FMA. 🇪🇺🎉

Excited to see what comes next.
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