Report · FolioPlanned

DeFi Monthly Report: TVL, DEX Volume, Lending and Perps

What changed in DeFi this month across TVL, trading, lending and staking?

A dated monthly account of DeFi: value locked by chain, spot and perp DEX volume, lending and liquidations, yields and buybacks.

  • Multi-chain
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Blueprint

What the report will cover.

The report as it will open in Folio. Each figure is named here and arrives with its receipt; until its data is published, its place stays empty.

A monthly edition, dated and cited

DeFi Monthly Report: TVL, DEX Volume, Lending and Perps

  1. The month in one paragraph

    What moved most in DeFi this month across value locked, trading, lending and perps, and the single event that mattered most.

    • Total value locked at month end
    • Change in value locked over the month
    • Spot DEX volume this month
    • Perp DEX volume this month
  2. Value locked by chain and protocol

    Month-end value locked on each chain and the protocols that gained or lost the most, with each change split into price moves and net flows.

    • Value locked by chain at month end
    • Ethereum's share of value locked
    • Largest protocol gains and losses
    • Price and flow effects
  3. Spot and perpetual trading

    Spot DEX volume by chain and exchange, and perpetual DEX volume and open interest on venues read on-chain.

    • DEX volume by chain
    • DEX volume by exchange
    • Perp DEX volume by venue
    • Perp open interest at month end
  4. Lending, rates and liquidations

    Deposits and active loans by lender and stablecoin borrow and supply rates at month end, with the month's liquidations and bad debt.

    • Deposits and active loans by lender
    • Stablecoin borrow rates at month end
    • Liquidations this month
    • Bad debt recorded
  5. Staking, yields and buybacks

    Value locked in liquid staking and yield-bearing stablecoins, and the protocol fees and token buybacks recorded during the month.

    • Liquid staking value locked
    • Yield-bearing stablecoin value locked
    • Protocol fees this month
    • Buybacks this month
  6. Coverage and corrections

    Chains and protocols added to coverage this month, any change to a measurement rule and figures from earlier editions that were restated, with reasons.

About

What it answers, and for whom.

Each edition of this report is a dated account of one month in DeFi: how much value was locked and where, how much traded on spot and perpetual DEXs, how lending deposits, loans and rates moved, what was liquidated and what protocols earned and spent on buybacks. It is written to be read in a few minutes and checked in detail.

Every figure is cited to the month-end block on its chain, or to the range of blocks it was summed over, so a reader can open its receipt and repeat the read. An edition does not change once published; anything restated later is corrected in the next edition with a note.

Method

How it will be measured.

Every figure will be read at a block, kept with its source and its exact read, and open a receipt anyone can re-check.

How receipts work →
  1. Month-end figures are read at the first block after 00:00 UTC on the first day of the next month on each chain; monthly flows add up every block in the month.
  2. Value locked, DEX volume, lending and liquidation figures come from the same datasets as the DeFi dashboards, so a number in the report matches the dashboard read at the same block.
  3. The perps section covers venues whose fills are read on-chain, such as Hyperliquid; venue-reported figures are named in a note and kept out of totals.
  4. Liquid staking and yield-bearing stablecoin figures come from the value locked in those protocols' contracts, and buybacks from treasury swap transactions.
  5. An edition is frozen when published: its figures stay pinned to their blocks, and corrections appear in the next edition with the reason.

The data it needs

Read from chain state and history

  • defi_tvl_dailyTo buildDeFi value lockedAssets deposited in DeFi protocols per protocol, chain and asset at day end, valued with oracle prices, never double counting receipt tokens.
  • dex_swaps_dailyTo buildDEX volumeSwap counts and volume per DEX, pool and chain per day, decoded from Swap events, valued with stablecoin legs and oracle prices.
  • perps_markets_dailyTo buildOn-chain perpetualsVolume, open interest, funding rates and fees per market on on-chain perpetual exchanges, per day.
  • lending_markets_dailyTo buildLending marketsSupply, borrow, utilization and rates per lending market (Aave, Morpho, Spark, Compound, Euler and others) at day end.
  • liquidationsTo buildLiquidationsEvery liquidation on major lending markets and perp venues: collateral seized, debt repaid, liquidator, and the price at the time.
  • protocol_revenue_dailyTo buildProtocol fees, revenue and buybacksFees users paid to each protocol and the part kept by the protocol or its token holders, per protocol and day, including buybacks.
  • Month-end aggregates from the value locked, DEX volume, lending and liquidation datasets
  • HyperCore monthly fills notional and month-end open interest
  • Month-end value locked in liquid staking and yield-bearing stablecoin contracts
  • Monthly buyback totals per protocol from treasury swap transactions
  • The month-end block on each chain for every cited figure
Questions

Questions people ask.

When is the DeFi monthly report published?

Shortly after each month closes, once every covered chain has passed its month-end block and the month's data is complete. Each edition is dated, and its figures are pinned to those blocks.

Where do the report's numbers come from?

From the same on-chain datasets as the DeFi dashboards. Value locked comes from protocol contract balances, DEX volume from swap events, deposits and rates from lending market state and liquidations from their own events. Each figure links to its receipt.

Why might a report figure differ from a live dashboard?

The report freezes each figure at the month-end block, while the dashboard keeps moving. Reading the dashboard at the report's block gives the same number.

Does the report make forecasts?

No. It describes what happened during the month and how each figure was measured. It makes no forecast and no recommendation.

Month-end block
The first block after 00:00 UTC on the first day of the next month on a chain, where month-end balances are read.
Edition
One dated issue of the report, whose figures stay pinned to the blocks they were read at.

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