DeFiLlama + ChatGPT

WEEKLY CRYPTO BYTES #6

The new AI-based tools in the Crypto World

What is DeFiLlama?

DeFiLlama is the largest DeFi data aggregator at the moment. It provides up-to-date information about Level 1 and Level 2 networks in blockchains (L1 and L2). Users worldwide can get free information about TVL (Total Value Locked), APY and other DeFi stats. The majority of adapters or the code used to collect the stats for blockchain network and associated DeFi protocols and Dapps are contributed by the respective community and maintained through the DeFiLlama Github repository.

Here are some of the uses of DeFiLlama

Total Value Locked (TVL) Tracking: DeFiLlama offers real-time data on the total value locked in various DeFi protocols, allowing users to gauge the size and growth of specific projects.

Chain and Layer-2 Analysis: Beyond just individual protocols, DeFiLlama provides TVL data for different blockchains and Layer-2 solutions, helping users understand where capital is flowing in the broader ecosystem.

Category Breakdown: DeFiLlama categorizes protocols based on their primary function, such as lending, DEXes (decentralized exchanges), yield aggregators, and more. This helps users identify dominant projects in specific niches.

Yield Farming Insights: For yield farmers, DeFiLlama provides data on the top-yielding pools, helping them make informed decisions about where to allocate their assets.

Bridge Flow Analysis: DeFiLlama tracks the net flow of assets across different bridges, giving insights into cross-chain movements.

Revenue and Fee Analysis: The platform provides data on the revenue and fees earned by various protocols, offering a perspective on their profitability and usage.

Historical Data: Users can access historical TVL data for protocols, enabling them to analyze trends over time.

Rankings: DeFiLlama ranks protocols based on various metrics like TVL, percentage growth, and fees, allowing users to quickly identify top-performing projects.

Integration with Other Tools: DeFiLlama can be integrated with other platforms and tools through its API, making it a valuable resource for developers and researchers.

In summary, DeFiLlama is a one-stop-shop for anyone looking to understand the DeFi landscape, offering a wealth of data and analytics to guide investment and development decisions.

What is ChatGPT?

ChatGPT is an AI chatbot that uses large language models to respond to questions and compose various written content, including articles, social media posts, essays, code and emails.

With the new AI tools like ChatGPT, it is easy to collect data from DeFiLlama. You need a subscription plan to ChatGPT Plus and install DeFiLlama plugin to your chat stream.

Here are the steps to perform that:

Hover over the GPT-4 button and you will see Plugins. Click on that to go to the Plugins store.

Once in the Plugins store, search for DeFiLlama and click on install.

Now you can see DeFiLlama plugin is already installed. Select the checkbox to enable it in your chat stream.

Choose any search prompt you like that will use DeFiLlama and you could see the results. You can see ChatGPT used DeFiLlama for this chat stream at the top.

You could get dashboard data with stats and download those to spreadsheets with a regular DeFiLlama interface, but no natural language-based search option exists. That’s where the ChatGPT AI plugins come in handy.

You could search “Which DeFi protocols are generating the most revenue right now?”. ChatGPT will generate and present all the data in an understandable, presentable format.

That’s how AI makes your life easy, just like how it makes it easy to generate content like these. Cheers! :)

Credits: This post has flavors of AI used in the making