ETH: DeFi TVL Dominance by Protocol
Shown as its 2019–2022 sample; the latest readings and full history are included with Plus.
Each covered protocol's share of the value locked in the covered DeFi protocols on Ethereum, each day.
Why use it. Dominance shows concentration: how much of Ethereum's DeFi capital sits with the largest protocols, and which ones are gaining. How to read it. The shares add up to 100% of the sum of the protocols. A share can rise because capital arrives or because the protocol's deposited assets gain in price.
Calculation. Share = the protocol's value locked / the sum of the covered protocols' value locked x 100. Covered protocols, Ethereum mainnet only. Lending (Aave v2 and v3, Spark, Compound v3, Morpho Blue): what is supplied less what is borrowed, the deposits the protocol still holds, from the lending charts (Lending: Supplied by Protocol and Borrowed by Protocol). Sky's vaults: the collateral locked; their DAI and USDS debt is minted, not taken from depositors, so it is not subtracted. Liquid staking (Lido, Rocket Pool, StakeWise) and EigenLayer's native restaking (EigenPods): each one's estimated active stake, from the staking charts, valued at CryptoKeyhole's ETH/USD close of the day. Counted once: the liquid staking tokens deposited in those lending markets and vaults, less those borrowed, are taken out, because their ether is already counted in staking; that group includes tokens of issuers not covered here (such as Coinbase's cbETH), so the counted-once figure errs slightly low. Not counted yet: decentralised exchanges' pools, Curve, Pendle, yield vaults, bridges, tokens deposited in EigenLayer's strategies, and the older Aave v1 and Compound v2, so the total is lower than all of DeFi on Ethereum, by more in 2021 and 2022 when those were large. Daily from 1 December 2020, from CryptoKeyhole's own Ethereum node; the latest day is a partial until it closes.