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Providing credibly neutral coverage of all things DeFi by https://defillama.com.
Introducing a new, comprehensive dashboard for NEAR Protocol, including network usage and an overview of NEAR fundamentals.
This dashboard explores NEAR’s economic flywheel: network volume, supply management approaches, and ecosystem growth over time.
https://investors.defillama.com/near
The State of RWAFi Q1 2026 Report is here.
RWA active market cap grew 5x in just over a year, from $4.1B to $25.2B. But only $3.6B is deployed in DeFi.
A lot of what is being called RWAFi right now is really just tokenisation. Putting assets onchain and actually using them are two very different things.
The market is figuring out that difference in real time. And depending on which asset class you look at, the answers are very different.
Developed in collaboration with DefiLlama, this report breaks down tokenised commodities, equities, real estate & alternative finance. Same macro trend, yet evolving differently under unique constraints.
Read the full report here: https://assets.dlnews.com/dlresearch/The-State-of-RWAfi_Q1-2026_report.pdf
Privacy in Web3 isn't one problem. It's three different ones with three different answers.
We sat down with privacy experts from Miden, Octra, and Arcium to map where ZK, FHE, and MPC win, where they strain, and what a future private web requires.
This one gets technical, but in the best way. How data gets processed privately will define the future of the Web3 and beyond, and these three are working on it from the frontlines.
From this week’s The Decentralised: 'Aave will win'?
Three of Aave DAO's longest-serving service providers have announced their departures from the collective, citing what they describe as a growing concentration of power around Aave Labs, the company run by protocol founder Stani Kulechov. The exits follow a landmark funding vote that will see the DAO provide Aave Labs with $25 million in stablecoins and 75,000 AAVE tokens, in exchange for the firm routing 100% of revenue from Aave-branded products back to the DAO treasury.
Aave Chan Initiative founder Marc Zeller, one of the most prominent critics, argued that Aave Labs' funding request failed to meet the transparency standards expected of other service providers, and accused Labs employees of using their voting power to influence the outcome. Kulechov's response has done little to ease tensions. His post declaring "Aave will win" called for a "zero-bureaucracy" approach with "zero room for friction," a framing that sits uneasily with the open deliberation that DAO governance is supposed to embody.
More from this week's top stories:
→ Roman Storm defends Tornado Cash operation as judge weighs acquittal
→ A hacker created $1.2bn of counterfeit crypto. They only sold it for $237,000
→ Ethereum is abandoning layer 2s. Arbitrum’s creator still sees a bright future ahead
From the land of DAOs:
→ VOTE: Aave DAO to decide if it will axe Aave V3 on Scroll blockchain
→ VOTE: Sky DAO votes to launch new cross-chain bridge for Avalanche blockchain
→ VOTE: Across DAO greenlights transition from DAO to US-based C corporation
[FEATURE]
Worried about how quantum computing might affect the blockchain? Worry no more: Octra, an L1 blockchain native to Fully Homomorphic Encryption (FHE) represents the next stage of cryptography.
Find out more about Octra and their token sale via Uniswap CCA.
📰 Get The Decentralised delivered to your inbox every week.
LlamaAI alerts are now available in Telegram.
How it works:
1) Ask LlamaAI to send you a daily alert with onchain trends, DeFi news, or anything else crypto related
2) Set the Delivery method to Telegram
3) Enable the LlamaAI bot when prompted and you're all set
How concentrated are a DeFi pool's depositors?
Holder data is now available on DefiLlama yield pools. This includes:
* Holder Distribution
* Top Wallets
* TVL exposure from the top 1, 5, and 10 holders
* Number of holders and recent trend
DeFi’s true believers reminisce in Cannes as they hunt for crypto’s next big thing
Читать полностью…
The onchain data layer for your AI agent. Introducing the DefiLlama MCP.
23 tools to bring DeFi data to your agent
Guided research workflows that teach your agent structured analysis
Available now with the DefiLlama API plan.
Our RWA page got an upgrade.
Toggle between pages that show RWAs broken down by Asset, Chain, Platform, or Category.
https://defillama.com/rwa
Introducing the new download center for quickly exporting over 50 datasets from DefiLlama.
- Download both full datasets and time series.
- Pull data for chains, protocols, categories, RWAs, stablecoins, and more.
- Customize columns.
- Preview datasets before subscribing.
Active MCap of RWAs just surpassed $16B for the first time.
On our RWA dashboard, we differentiate between Onchain MCap (total market cap of an asset onchain) and Active MCap (the portion of those assets deployed in DeFi or distributed outside the issuer's wallets).
🦙 Llama News Round-Up | 27 Feb - 06 Mar
News 📰
→ Arthur Hayes forecasts Fed printing as Trump’s Iran war ramps up
→ Dubai’s VARA says KuCoin is operating unlicensed in the UAE
→ Trump sides with crypto firms in stablecoin dispute
→ Crooks may prefer offline euro CBDC over cash, warns report
→ Russia plots stablecoin bill to capitalise on ‘colossal potential’
→ How crypto is becoming a massive divorce problem
→ Elizabeth Warren torches Trump after ‘lap dog’ SEC drops Justin Sun charges in $10m deal
→ Binance responds to Congressional inquiry
Layer 1 & 2 ⛓️
→ Why Tron profitability reveals ‘uncomfortable reality’ for Ethereum and Solana, says analyst
→ Ethereum validator queue grows to 3.4m ETH
→ Stripe’s Bridge begins issuing USDsui on Sui Network
→ Valantis Labs launches Prime, the smart contract account layer for connecting Hypercore and HyperEVM
→ 30% of all lending activity on Ethereum is RWA looping
DeFi 🏦
→ Curve accuses PancakeSwap of copying code for stablecoin swap tool
→ Entropy details Arbitrum’s DRIP Season 1 performance
→ Uniswap price soars as DAO votes to activate fee switch for 8 blockchains
→ Aave governance firm exits $27bn DeFi giant as protracted power struggle deepens
→ Angle to shutter euro stablecoin EURA after 5-year slide from top spot
→ Autonomint launches nondollar.life to hedge non-USD stablecoins against currency volatility
→ ACI is leaving Aave
→ LlamaRisk seeks renewal as Curve’s risk provider
→ DeFi security alum Vlad (aka OfficerCIA) is sick, consider helping so he may continue his work
Reads 📚
→ CoinGecko: The Rise of Perp DEXs
→ Crypto Nomads: It costs $33k to speak at ETHCC
→ Idiot’s guide to Ethereum’s 2029 strawmap
→ Stacy Murr: How to build in web3 in 2026 using the a16z playbook
→ PaperImperium on DAO mismanagement and the future of DeFi governance
Raises & Acquisitions 💰
→ VC ‘spray-and-pray era over’ as crypto startups raise $883m in February
→ Over $2b has been raised in crypto so far this year
Security 🛡
→ Russian pyramid scheme operators have turned to crypto en masse, warns Moscow
→ South Korean government leak crypto wallet seed phrases — $5m vanishes
→ Revenge attacker paid $300 in crypto to spray human waste on home. ‘I will not leave you alone’
→ Exploiter liquidates sDOLA suppliers via ‘donation attack’
→ Solv Protocol exploited for $2.7M in smart contract minting bug
AI 🤖
→ 0G and Stanford Blockchain veterans launch $20M Apollo AI accelerator
→ OpenClaw gets ‘ClawJacked,’ allowing full AI agent takeover.
→ SerenAI launches 402x & Openclaw-powered Polymarket Skills
Llama Update 🦙
→ DefiLlama unveils its biggest LlamaAI update yet
→ Introducing horizontal bars for the RWA dashboard
→ Check out a preview of our upcoming DL Research + DefiLlama “State of RWAfi Q1 2026” report, “Onchain real estate: Technically mature, institutionally constrained.”
Introducing horizontal bar charts to our RWA dashboard.
You can now choose between Time Series, Pie Charts, Treemaps, and Horizontal Bar Charts for viewing RWA data.
https://defillama.com/rwa
Tokenised real estate today sits at half a billion dollars in onchain value, a modest foothold in what Deloitte sees as a $4tn market by 2035.
It's the first sector under the microscope in our upcoming joint report with DefiLlama, "The State of RWAfi."
Read on in this pre-launch Spotlight, "Onchain real estate: technically mature, institutionally constrained"
🦙 Llama News Round-Up | 20 Feb - 27 Feb
News 📰
→ Jane Street enjoyed ‘impossible‘ insider advantage amid $40bn Terra collapse, lawsuit alleges
→ Prediction markets are bending insider trading rules. But will they break them?
→ France crypto kidnappings linked to overseas kingpins, police say
→ South Korean lawmakers set to crack down on crypto after Bithumb’s $40bn Bitcoin blunder
→ Why SEC’s new stablecoin haircut will ‘open the floodgates’ for institutional finance
→ A ‘coordinated attack,’ deleted posts, and falling tokens. What’s going on at World Liberty Financial?
→ Man poisoned business partner’s coffee after bad crypto investment, say prosecutors
→ Putin lets courts confiscate Bitcoin as Russia cracks down on freewheeling crypto sector
→ Dutch government to amend tax on unrealised crypto gains: ‘Something simply went wrong’
→ Tokenised gold outshines crypto prices amidst political chaos
Layer 1 & 2 ⛓️
→ Ethereum devs lock-in controversial censorship resistance proposal for coming Hegota upgrade
→ Vitalik proposes ‘quantum roadmap’ for Ethereum
→ Why transaction volume on Bitcoin’s Lightning Network is surging
→ Justin Drake: Ethereum L1 Strawmap
→ BNB Chain processes ~40% of stablecoin transactions with ~5% of total supply
DeFi 🏦
→ Aave price tumbles as ‘most productive’ contractor leaves DAO
→ Why Fluid devs want to give DAO ‘ultimate authority’
→ BDG is leaving Aave
→ Kamino crosses $1bn in total RWA market size
→ Tether to wind down offshore yuan stablecoin CNH₮
→ Yearn’s Weekly Blue Pill
→ Quarterly Ethereum smart contract deployments hit record-high in 2025 Q4
→ LobsterDAO’s Ivan joins Ethereum Foundation
→ Step shuts its doors
→ CurveDAO proposal to compensate users affected by Curve.fi DNS hijacking
→ ZachXBT exposes Axiom employees for insider trading using private wallet tracking
→ MagicEden shutters Bitcoin API, ME Wallet, and EVM & BTC marketplaces to focus on Solana
Reads 📚
→ From “Adoption” to Annexation: The End State of Institutional Adoption
→ Zeus: Your RWA token doesn’t capture value. Here’s why
→ Pine Analytics: The Compression of L1 Value Capture
→ Are audits dead?
→ Balancer: What 961 Token Launches Taught Us About LBP Configuration
→ A1: Perp Dex Wars
→ Kyan: The end of wasted capital
Raises & Acquisitions 💰
→ Deal terms ‘more attractive’ as crypto startups raise $95m led by prediction markets, AI agents
→ Based raises $11.5m in Series A led by Pantera.
→ Bitwise acquires staking infra provider Chorus One
Security 🛡
→ Bitcoin dev says we’re ‘not prepared’ for quantum future where major players are ‘spooks’
→ South Korean prosecutors recover $22 million worth of lost Bitcoin
→ AI-powered audit uncovers ‘high-severity’ bug in Ethereum software
→ Going to a crypto conference? SEAL_ORG says to be careful
AI 🤖
→ Citrini AI report terrified Wall Street. Here’s why its vision is a boon for Bitcoin’s price
→ Vitalik Buterin backs Anthropic in White House clash after Citrini report predicts AI dystopia
→ Uniswap releases open-source AI Skills suite for agents.
Llama Update 🦙
→ DefiLlama adds “Date of Last Attestation” and “Attestation Frequency” to RWA pages.
→ DefiLlama upgrades “Token Rights” dashboard, expanding coverage to 49 protocols with more context and deeper summaries (including domain & IP ownership)
→ Going to ETHCC? So are we! DM us to meet up; interview slots available.
A look at our new token page for WBTC.
How much debt can be issued against WBTC as collateral?
Which risk assessments have been made about WBTC historically?
Where is WBTC used in DeFi?
What are the onchain liquidation levels for WBTC?
Now available for thousands of tokens:
https://defillama.com/token/WBTC
The DefiLlama community has built 900+ public custom DeFi dashboards since we launched our builder.
Now we're opening it up so more people can experience how powerful this tool is: free users can create and maintain one dashboard.
https://defillama.com/pro
Introducing v2 of the DefiLlama Downloads center.
This update brings more customization to DefiLlama data exports.
Here's what's new:
* Build custom exports with multiple metrics
* View and reuse past export settings
* Download datasets for multiple protocols at once
LlamaAI just one-shotted this Aerodrome dashboard.
Data on Holders Revenue, volume, tokenomics, and liquidity organized in seconds.
Try LlamaAI today and get three suggested questions and one free-form question today, plus one research report every two weeks.
As DeFi matures, investors deserve accurate, public information about protocols, and protocols need a better way to communicate with investors.
We’re proud to partner with Spark to launch the first DefiLlama investor relations portal.
This goes deeper than DefiLlama’s normal dashboard, incorporating additional metrics and granularity, along with a place for Spark to provide context for its analytics. This is a one-stop shop for everything that Spark users need to stay informed:
* Comprehensive analytics about Spark financials and usage
* Quarterly reports
* Recent announcements from Spark
RWA charts are now available on custom Defillama Pro dashboards.
Integrate data on over 2,700 tokenized assets into custom dashboards that also feature protocol, chain, stablecoin, yield, and tokenomics charts.
https://defillama.com/pro/preview
The European Central Bank just used DefiLlama as the primary data source in a new paper.
When regulators and central banks around the world need DeFi data, they come to us.
We added new charts to our Perp Volume page.
Toggle between stacked bar, line, treemap, and horizontal bar charts. Customize and export with one click.
🦙 Llama News Round-Up | 13 Mar - 20 Mar
News 📰
→ How crypto is adapting to the war in Iran and what could go wrong next
→ Crypto lobby has already spent $271m to sway the 2026 elections
→ Court dispatch: MEV bros point to Eisenberg acquittal in high-stakes hearing
→ SEC scraps civil fraud case against crypto social network BitClout founder
→ Boris Johnson bashes Bitcoin — and gets educated by crypto’s biggest names
→ Crypto crime on the rise in Spain’s Basque Country, say police
→ Clarity at last? Ether, Solana, and XRP are commodities, SEC says in landmark interpretation of securities law
→ Libra scandal: Argentine forensics reveal years of payments from lobbyist to President Milei
→ FTX Recovery Trust to begin distributing $2.2bn to creditors
Layer 1 & 2 ⛓️
→ Ethereum Foundation releases mandate
→ How Hyperliquid became an Iran war winner
→ Ethereum bulls clash over manifesto ‘180’ that reaffirms cypherpunk ideals
→ Tempo’s stablecoin blockchain goes live
→ S&P 500 contract comes to Hyperliquid as tokenisation race heats up
→ Katana’s vKAT Armory goes live, KAT now tradeable
→ Aster Chain goes live
DeFi 🏦
→ Sky slashes buybacks 87% to boost stablecoin reserves ahead of ‘massive oil shock’
→ OpenSea postpones SEA token airdrop amid ‘challenging’ market conditions
→ A crypto user accidentally swapped $50m for $37,000. Here’s where the money ended up
→ Aave publishes post mortem
→ Morpho to launch fixed-rate lending
→ Governance platform Tally shuts down
→ YO launches yoSOL on Solana
Reads 📚
→ Keyrock, Safe, & DL Research: A new playbook for realising crypto’s $5.6 billion treasury opportunity
→ Tokenised commodities: Real assets, rebuilt onchain
→ Shoal: Block building on Solana and the future of internet capital markets
→ Stacy Murr: Why BTC failed as digital gold
Raises & Acquisitions 💰
→ Mastercard acquires BVNK for $1.8bn
→ Bitcoin treasury firm Metaplanet raises $255m
→ Tether invests in Ark Lab’s $5.2m funding round
→ GSR acquires Autonomous and Architech for $57m
→ Polymarket buys Brahma
Security 🛡
→ Venus suffers flash loan exploit, loses $3.7m
→ Crypto thief teens trigger helicopter manhunt after bomb threat
→ Teen kidnapped crypto influencer’s dad and doused him in petrol, police say
Llama Update 🦙
→ Another round of upgrades for LlamaAI
→ Over 800 custom dashboards have been created on DefiLlama
→ Introducing the new download center
→ DefiLlama is hosting a side event with Octav at ETHCC. Sponsorship opportunities available.
→ ⚠️ PSA: All Llama Corp contacts can be verified via llama-corp.com or http://dlnews.com/verification/
We just rolled out another round of upgrades to LlamaAI.
These updates increase performance and introduce multiple new integrations...
> Smarter model: LlamaAI now runs on Sonnet, with a 1M token context window.
> File uploads: Upload CSV and PDF files directly
> Full 𝕏 data access: Pull followers, following, tweets with a filter. Summarize replies, RTs and quotes from a link.
> People search: Find team members, including LinkedIn profiles, emails, and company info. Useful for BD and outreach.
> Onchain analysis: LlamaAI can now write queries that pull top holders, address trade history, and more. Results can be exported to CSV.
> Agents in Normal mode: LlamaAI now spawns agents to help gather data and complete tasks, not just in Research mode.
https://defillama.com/ai
We asked LlamaAI and a general purpose LLM to both find the top yield opportunities for USDC.
While LlamaAI has direct access to real-time DeFi data through DefiLlama, general LLMs are limited to a web search.
Try for yourself with a 7-day trial now.
https://defillama.com/ai
Most crypto research tools force a choice: onchain data or TradFi data.
LlamaAI now pulls both.
We just released the biggest update to LlamaAI to-date.
Here's everything included:
DefiLlama tracks over 5,000 protocols. The new version pairs that database with traditional financial markets, so a single query can cross-reference onchain yield, fundamentals, and TradFi performance simultaneously. LlamaAI can also now perform onchain analysis related to token distribution.
Performance improved across the board. Parallel agents cut research time on complex prompts. A proper agent loop replaced the old static interaction model, making responses more adaptive.
Memory stores your yield profile and pulls it forward into future sessions automatically.
What that unlocks in practice:
Compare DCAing into BTC, staked ETH, and USDC lent on Aave over 5 years. Analyze how airdropped tokens performed post-TGE. These were multi-tool, multi-tab research tasks. Now they're single prompts.
The gap between a retail investor and a well-resourced analyst has always been data access and time. LlamaAI is narrowing both.
What would your returns have been DCAing into BTC, staked ETH, USDT lent on Aave, and QQQ over the past 5 years? Find out here.
How does the token capture value?
Token rights pages on DefiLlama are designed to track exactly that.
Metrics tell what a DeFi protocol's fundamentals are, but token rights tell whether those fundamentals translate to value for tokenholders.
Check out Hyperliquid's token rights dashboard as an example here.
Hunting airdrops?
You can now find the highest potential ones directly on our Yield dashboard.
We've incorporated fundraising data into our pools table. Hover over the money with wings icon to see a protocol's last known valuation.
We've upgraded our Token Rights dashboards:
- Expanded coverage to 49 protocols
- Deeper summaries and clear explanations of every right
- Domain and IP ownership
- Sources linked for each section
Available on the "Token Rights" tab of protocols.