Token Terminal
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Customer stories: Token Terminal’s Data Partnership with Linea
Through its partnership with Token Terminal, Linea turns transparency into a competitive advantage and continues to build trust with its growing community.
Introducing Tokenized Assets
Token Terminal is expanding its standardized onchain analytics to cover the rapidly growing category of tokenized real-world assets (RWAs) – starting with stablecoins, tokenized funds, and tokenized stocks.
Customer stories: Token Terminal’s Data Partnership with EigenCloud
Through its partnership with Token Terminal, EigenCloud turns transparency into a competitive advantage and continues to build trust with its growing community.
Launching methodologies
Today, we’re launching Methodologies, a new feature on Token Terminal that documents every calculation step between raw blockchain data and standardized financial and usage metrics.
Expanding the frontier of onchain analytics
During Q4, we’re rolling out Queries — a SQL interface designed to complement and extend our existing no-code analytics tools.
Token Terminal x Alea Research: A partnership to advance the quality and distribution of onchain data & research
Through this collaboration, Token Terminal will provide onchain data to Alea Research and support their platform and research reports with standardized and institutional-grade onchain data.
Customer stories: Token Terminal’s Data Partnership with Ether.fi
Through its partnership with Token Terminal, Ether.fi turns transparency into a competitive advantage and continues to build trust with its growing community.
Customer stories: Token Terminal’s Data Partnership with Pendle
Through its partnership with Token Terminal, Pendle turns transparency into a competitive advantage and continues to build trust with its growing community.
Customer stories: Token Terminal’s Data Partnership with Raydium
Through its partnership with Token Terminal, Raydium turns transparency into a competitive advantage and continues to build trust with its growing community.
Decoding Uniswap V4’s bit-packed swap data at scale
Earlier this year, Uniswap V4 introduced one of its most powerful features yet: hooks.
Token Terminal x CoinGecko: Token Terminal’s onchain data is now available on CoinGecko
Token Terminal’s standardized onchain metrics are now live on CoinGecko! You can find them on every asset page under the Financials section. The first data sets include historical data for fees and revenues, with more metrics to come.
Binance Leverages Token Terminal’s Data Infrastructure To Deliver On-chain Analytics for Millions of Users
Over the coming months, Binance users will get access to key financial and usage metrics for crypto assets — all from a single, trusted source.
Sonic is live on Token Terminal
Token Terminal has completed its integration of Sonic to enable institutional-grade onchain analytics for the Sonic ecosystem. This integration improves the accessibility of Sonic's onchain data to enable more informed decision-making for all stakeholders in the ecosystem.
New updates to the Token Terminal API
Over the past few weeks, we’ve shipped a series of customer‑driven upgrades to the Token Terminal API. In this post, you’ll get a quick tour of the changes—along with concrete, real‑world examples that show how teams are already putting our API to work.
Changelog #012
We’re launching our new market sector pages to bring you a deeper level of data access in our public data platform. You can easily explore projects within a market sector, see trends for any metric across any market sector, and even see what activity is happening by chain within a market sector.
Token Terminal x Messari: A partnership that advances the quality and distribution of onchain data & research
Through this collaboration, Token Terminal will provide onchain data to Messari and support their platform and research reports with standardized and institutional-grade analytics
Token Terminal x Focal by FalconX: Powering institutional-grade onchain intelligence
Token Terminal is now the primary onchain data provider for Focal, FalconX’s AI-driven insights engine built for institutional investors in crypto markets.
Changelog #011
Introducing update Project pages on Token Terminal to help you more easily navigate the universe of onchain data available on Token Terminal.
Gravity Alpha Mainnet is live on Token Terminal
Token Terminal has completed its integration of Gravity Alpha Mainnet to enable institutional-grade onchain analytics for the Gravity Alpha Mainnet ecosystem. This integration improves the accessibility of Gravity Alpha Mainnet's onchain data to enable more informed decision-making for all stakeholders in the ecosystem.
Injective is live on Token Terminal
Token Terminal has completed its integration of Injective to enable institutional-grade onchain analytics for the Injective ecosystem. This integration improves the accessibility of Injective’s onchain data to enable more informed decision-making for all stakeholders in the ecosystem.
Viction is live on Token Terminal
Token Terminal has completed its integration of Viction to enable institutional-grade onchain analytics for the Viction ecosystem. This integration improves the accessibility of Viction’s onchain data to enable more informed decision-making for all stakeholders in the ecosystem.
Customer stories: Token Terminal’s Data Partnership with Maple Finance
In addition to standardized financial and usage metrics, Maple Finance and Token Terminal are excited to explore opportunities to create custom dashboards with project-specific metrics that would offer both lenders and borrowers deeper insight into the platform’s features and performance.
Customer stories: Token Terminal’s Data Partnership with Merkle Trade
Through its partnership with Token Terminal, Merkle Trade turns transparency into a competitive advantage and continues to build trust with its growing community.
Introducing Token Terminal Teams: Collaborate on Onchain Data
With Token Terminal Studio, analysts gained the power to create custom charts, data tables, and dashboards. Now, with Teams, entire investment and data analytics teams can collaborate on custom dashboards in real-time.
Changelog #010
Introducing Token Terminal Teams: real-time collaboration for onchain analytics. With Token Terminal Teams, entire investment and data analytics teams can now collaborate on custom dashboards in real-time, making onchain research more seamless than ever.
Introducing Token Terminal Studio: Industry-Leading Tools for Custom Onchain Analysis
We’re excited to introduce Token Terminal Studio, a suite of industry-leading tools designed to enable analysts to easily create custom analysis by leveraging the data that’s available on Token Terminal.
Changelog #009
We’re excited to launch Token Terminal Studio, a powerful suite of tools that lets analysts create custom charts, data tables, and dashboards using Token Terminal’s onchain data.
Introducing Token Terminal Sheets: Access Onchain Data in Your Spreadsheet
We’re excited to introduce Token Terminal Sheets, a Google Sheets & Microsoft Excel plug-in that makes all Token Terminal datasets accessible within analysts’ spreadsheet workflows, and frees up more time for research and insight generation.
Changelog #008
We’re thrilled to launch Token Terminal Sheets, a Google Sheets & Microsoft Excel plug-in that brings all Token Terminal datasets directly into analysts’ spreadsheet workflows.
Ecosystem metrics by metric type
The best chains build a mutually beneficial flywheel between the platform & its app ecosystem
Why running nodes is more messed up than you think
Getting nodes to run reliably isn’t just about following a guide and hoping for the best. From syncing with the network to setting up the right infrastructure, each step holds hidden headaches that can easily drain teams of their time and patience.
Customer stories: Token Terminal’s Data Partnership with Vertex
Through its partnership with Token Terminal, Vertex turns transparency into a competitive advantage and continues to build trust with its growing community.
Token Terminal Partners with Firstset
Together, Token Terminal and Firstset (“TT x 1S”) provide blockchain networks—both emerging and established—with a comprehensive validator solution that goes beyond traditional validation services. By partnering with TT x 1S, a network gets access to enterprise-level validation services, institutional-grade onchain analytics, and a Wall Street distribution—-from testnet to mainnet and beyond.
Announcing Our Engineering Blog Series: ‘How We Build’ by the Token Terminal Engineering Team
We’re excited to launch our new blog series, ‘How We Build,’ where our engineering team takes you behind the scenes to reveal how we run a scalable and reliable blockchain data pipeline—the core infrastructure powering all of Token Terminal’s products. From managing in-house node infrastructure across 40+ blockchains to maintaining a 400TB data warehouse.
No history, no trust: why full nodes alone aren’t enough
Archival nodes are vital for maintaining the full history of a blockchain. They ensure that anyone can access past data for in-depth analytics or audits.
Token Terminal Welcomes Alex Wenham as a Strategic Advisor
We are thrilled to announce the appointment of Alex Wenham as a Strategic Advisor at Token Terminal. Alex brings over fifteen years of experience from the intersection of traditional finance and crypto, having spent a significant part of his career at Bloomberg, where he held key leadership roles focused on institutional sales and product strategy. His extensive expertise in both traditional finance and the rapidly evolving digital asset landscape make him an invaluable addition to our growing team.
Customer stories: Token Terminal’s Data Partnership with Euler
Through its partnership with Token Terminal, Euler turns transparency into a competitive advantage and continues to build trust with its growing community.
How Data Lakes solve crypto data’s cold start problem
Both indexers and Data Lakes play critical roles in managing and retrieving blockchain data, but they do so in different ways.
Exploring Arbitrum Stylus, Orbit, and Nitro: An Interview with Steven Goldfeder
In this episode, we’re joined by Steven Goldfeder, Co-Founder and CEO of Offchain Labs, the team behind Arbitrum. We discuss the launch of Arbitrum Stylus, Arbitrum's strategic positioning in the expanding blockchain market, key developments within the Orbit ecosystem, the concept and significance of chain clusters, and much more.
How ELT keeps us ahead of the curve
We’re kicking off a tech series to give you a behind-the-scenes look at what it takes to run a reliable and scalable blockchain data pipeline.
Moonwell enters into a Data Partnership with Token Terminal
Moonwell is one of the fastest growing lending projects on Base and Optimism. The project has raised ~$20m in venture capital from crypto-native funds, and its core contributors worked at Coinbase for several years before starting the project. Now, with over $140 million in user deposits, Moonwell recognized the need for reliable, continuous, and data-driven stakeholder reporting.
Changelog #007
This week, we're excited to announce the launch of the brand new Discover page in Token Terminal! The Discover page serves as your launchpad for exploring a curated collection of dashboards created by our expert team and community of analysts.
Token Terminal Discover is live
We’re excited to introduce Discover – Token Terminal’s brand-new discover product that puts the most insightful crypto data right at your fingertips. The Discover page includes real-time onchain analytics dashboards created by leading analysts in the crypto market.
Changelog #006
While summer’s wrapping up, we’re happy to share some of the work our data and integration teams have been doing over the summer. Between new basic metrics and a whole host of new project listings, the data we cover at Token Terminal continues to get both wider and deeper. Read on for what’s new!
Changelog #005
This week, we're rolling out our new custom chart building experience as part of our new Studio. We've also shipped data updates across dozens of projects and now have stacked area charts available when looking at composition charts.
Changelog #004
This week, we’re excited to announce our full data-pipeline integration with Immutable zkEVM! Additionally, we shipped some important data changes and new metrics for Aptos, Aave, Jito, Arbitrum, Uniswap, and more!
Token Terminal brings Immutable’s onchain data in front of 300,000 institutional customers
Token Terminal has completed its integration of Immutable zkEVM, Immutable X, and Immutable Orderbook (“Immutable”) to enable institutional-grade onchain analytics for the Immutable ecosystem. This integration improves the accessibility of Immutable’s onchain data to enable more informed decision-making for all stakeholders in the ecosystem.
Changelog #003
This week, the team has been hard at work shipping updates to our Bloomberg Terminal app, fixing bugs, and plenty of background work on data migrations and more!
Changelog #002
This week, our team shipped two new ways to explore datasets in the Terminal. Our most used dataset, the Crypto screener, is now available on the home page. Additionally, any project now includes embedded datasets with relevant market sector and project data.
Token Terminal brings Celo's onchain data in front of 300,000 institutional customers
Token Terminal has completed its integration of Celo to enable institutional-grade onchain analytics for the Celo network. This integration improves the accessibility of Celo’s onchain data to enable more informed decision-making for all stakeholders in the ecosystem.
Changelog #001
Welcome to the Token Terminal Changelog. Here, we’ll keep you up to date on the latest data and product updates on our platform. Be sure to follow us on X to stay in the loop on the latest changes.
Token Terminal brings Ronin’s onchain data in front of 300,000 institutional customers
Token Terminal has completed its integration of Ronin to enable institutional-grade onchain analytics for the Ronin network, a blockchain forged for gamers. This integration improves the accessibility of Ronin’s onchain data to enable more informed decision-making for all stakeholders in the ecosystem.
Token Terminal brings TON’s onchain data in front of 300,000 institutional customers
Token Terminal has completed its integration of TON to enable institutional-grade onchain analytics for the TON network, a blockchain that leverages a technology designed by Telegram. This integration improves the accessibility of TON’s onchain data to enable more informed decision-making for all stakeholders in the ecosystem.
Token Terminal brings Aptos’ onchain data in front of 300,000 institutional customers
Token Terminal has completed its integration of Aptos to enable institutional-grade onchain analytics for the Aptos network. This integration improves the accessibility of Aptos’ onchain data to enable more informed decision-making for all stakeholders in the ecosystem.
TRON Network’s data is now integrated into Token Terminal
TRON DAO has entered a partnership with Token Terminal, integrating the TRON network’s data into Token Terminal’s sophisticated suite of data analytics tools. This collaboration promises to transform the way investors and analysts access and leverage TRON’s data.
Content Guidelines for Community Contributions
The Community -section of our blog is designed to empower researchers and investors to share insights with our broader community. As you prepare to submit your research, please adhere to the following guidelines to ensure your content aligns with the expectations of our audience and the standards of our platform.
MarketVector Indexes™ launches innovative Token Terminal Fundamental Index suite
While the cryptocurrency market rapidly evolves and investors seek innovative approaches to the sector, MarketVector Indexes™ (“MarketVector”), a pioneer provider in digital assets indexing, today announced the launch of the MarketVector™ Token Terminal Fundamental Index Suite, a groundbreaking approach to creating multi-token baskets.
The block explorer for growth teams in crypto
Understand the activity on your network, execute on the right things, and deliver results for the DAO.
MultiversX – Mass adoption, security, sharding, EGLD, xDay, and more | Fundamentals ep.73
In this episode we’re joined by Benjamin Mincu, the Founder and CEO of MultiversX – a Layer 1 blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed.
Introducing the ‘Fundraises’ data set
Token Terminal's new ‘Fundraises’ data set has been released. Learn more about what fundraising data is, why it's important, and how you can interpret the data.
Maven 11 – Value capture, modular blockchains, due diligence, good tech vs. good business | Fundamentals ep.72
In this episode of the Fundamentals podcast, we’re joined by Mathijs van Esch, Associate Partner at Maven 11 – a crypto-native fund that partners with brave outliers challenging the status quo by redefining ownership.
Sei – the fastest Layer 1 blockchain, optimizing UX for the exchange of digital assets | Fundamentals ep.71
In this episode, we’re joined by Jay Jog, the Co-founder of Sei - a general purpose, open-source Layer 1 blockchain offering infrastructure optimized for the exchange of digital assets.
Introducing the ‘Insider transactions’ data set
Token Terminal's new 'Insider transactions' data set has been released. Learn more about what insider transactions are, why they're important, and how you can interpret the data.
Introducing the ‘Cohort analysis’ data set
Token Terminal's new ‘Cohort analysis’ data set has been released. Learn more about what cohort analysis is, why it's important, and how you can interpret the data.
Folius Ventures – Analyzing BLUR, MKR, and friend.tech with Jason Kam | Fundamentals ep.70
In this episode of the Fundamentals podcast, we’re joined by Jason Kam, the founder of Folius Ventures – a fund that invests in, evangelizes, and builds web3 initiatives.
Blockchains (L2) – Weekly fundamentals #79
This week’s newsletter focuses on the blockchains (L2) market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
Chronicle Protocol – Decentralized and transparent oracle infrastructure | Fundamentals ep.69
In this episode, we’re joined by Niklas Kunkel, the Founder of Chronicle – an oracle service born out of MakerDAO’s Oracle Core Unit that will be launching publicly in September 2023.
Bridges – Weekly fundamentals #78
This week’s newsletter focuses on the bridges market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
Internet Computer – Replacing all of traditional IT with a blockchain | Dominic Williams | Fundamentals ep.68
In this episode, we're joined by Dominic Williams, the Founder and Chief Scientist of DFINITY, a major contributor to the Internet Computer blockchain.
Trending contracts – Weekly fundamentals #77
This newsletter focuses on the projects and smart contracts that are trending across blockchains. Let’s dig in!
Modular Capital – Crypto investment firm with a fundamental and thesis-driven approach | ep.67
In this episode of the Fundamentals podcast, we’re joined by James and Vincent, the founders of Modular Capital – a crypto investment firm with a fundamental and thesis-driven approach.
Stablecoin issuers – Weekly fundamentals #76
This week’s newsletter focuses on the stablecoin issuers market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
Portal Ventures – Accelerating the protocol economy through business fundamentals | Fundamentals ep.66
In this episode of the Fundamentals podcast, we’re joined by Evan Fisher, the founder of Portal Ventures – a fund that is accelerating the protocol economy through business fundamentals.
MarketVector Indexes™ and Token Terminal to Provide Exclusive Web3 Data, Product Offerings
MarketVector Indexes™ and Token Terminal announce a partnership to provide institutions, advisors, and investors with access to investable products that track the breadth of data available in web3 and on blockchains.
Blockchains (L1) – Weekly fundamentals #75
This week’s newsletter focuses on the blockchains (L1) market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
Liquid staking – Weekly fundamentals #74
This week’s newsletter focuses on the liquid staking market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
GFX Labs – DAO governance, Uniswap fee switch, onchain lending | Fundamentals ep. 65
In this episode of the Fundamentals podcast, we’re joined by Getty Hill, the Co-Founder of GFX Labs, a multi-faceted blockchain research and development company.
NFT marketplaces – Weekly fundamentals #73
This week’s newsletter focuses on the NFT marketplaces market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
TRON – User activity, stablecoins, emerging markets | H.E. Justin Sun | Fundamentals ep.64
In this episode of the Fundamentals podcast, we’re joined by H.E. Justin Sun, the Founder of Tron – a layer 1 blockchain.
Lending – Weekly fundamentals #72
This week’s newsletter focuses on the lending market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
frens capital – Liquid venture, web3 business models, market inefficiencies & more | Fundamentals ep.63
In this episode of the Fundamentals podcast, we’re joined by Chris Abiaad, the founder of frens capital – a thesis-driven investment fund focused on liquid digital assets. frens capital’s strategy is to make long-only investments based on fundamentals and the core principles of value investing.
Infrastructure – Weekly fundamentals #71
This week’s newsletter focuses on the infrastructure market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
Synthetix V3, lessons learned, SNX staking, driving adoption | Kain Warwick | Fundamentals ep.62
In this episode of the Fundamentals podcast, we're joined by Kain Warwick, the founder of Synthetix – a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi.
Gaming – Weekly fundamentals #70
This week’s newsletter focuses on the gaming market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
Valuing blockchains with Michael Nadeau: an institutional investor's perspective | Fundamentals ep.61
In this episode of the Fundamentals podcast, I’m joined by Michael Nadeau, a crypto data and research analyst and author of the DeFi report. We explore how blockchains can be valued, especially from the perspective of more traditional and institutional investors.
IPOR Protocol – Building the foundational layer for DeFi credit markets | Fundamentals ep.60
In this episode of the Fundamentals podcast, I’m joined by Darren and Dimitar, the Co-Founders of IPOR Protocol. IPOR is a non-custodial exchange for interest rate swaps built on Ethereum.
Exchanges (DEX) – Weekly fundamentals #69
This week’s newsletter focuses on the exchanges (DEX) market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
Blockchains (L2) – Weekly fundamentals #68
This week’s newsletter focuses on the blockchains (L2) market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
BNB Chain – Accelerating adoption of the digital asset and blockchain economy | Fundamentals ep.59
In this episode of the Fundamentals podcast, I’m joined by Arno Bauer, a Senior Solution Architect at BNB Chain. BNB Chain is a smart contract platform for decentralized applications and is currently the most widely used blockchain.
Asset management – Weekly fundamentals #67
This week’s newsletter focuses on the asset management market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
Angle Protocol – The most liquid Euro stablecoin: agEUR | Fundamentals ep.58
In this episode of the Fundamentals podcast, I’m joined by Pablo Veyrat, the Co-Founder of Angle Protocol – a decentralized Euro stablecoin protocol.
Derivatives – Weekly fundamentals #66
This week’s newsletter focuses on the derivatives market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
MakerDAO's Endgame with Rune Christensen | Fundamentals ep.57
In this episode of the Fundamentals podcast, I’m joined by Rune Christensen – Co-Founder of MakerDAO – a decentralized stablecoin protocol built on Ethereum, and the first-ever DAO, to discuss their recent Endgame update.
Bridges – Weekly fundamentals #65
This week’s newsletter focuses on the bridges market sector, which has a designated dashboard on Token Terminal. Let’s dig in!
Theia Blockchain – Fundamentals-based value investing in crypto | Fundamentals ep.56
In this episode of the Fundamentals podcast, we’re joined by John McNiff and Felipe Montealegre, the founders of Theia Blockchain – a fundamentals-driven investment fund that is applying the principles of prudent investing to blockchain.
Trending contracts – Weekly fundamentals #64
This newsletter focuses on the projects and smart contracts that are trending across blockchains. Let’s dig in!
Polkadot – Building an unstoppable blockchain ecosystem | Fundamentals ep.55
In this episode of the Fundamentals podcast, we’re joined by Shawn Tabrizi, Lead Developer at Polkadot. Polkadot is the first fully-sharded blockchain, i.e. it is a multi-chain environment. Polkadot enables scalability by allowing specialized blockchains to communicate with each other in a secure, trust-free environment.
Blockchain economics – Weekly fundamentals #63
In this article, we focus on the economics of Proof of Work Layer 1 (PoW L1), Proof of Stake Layer 1 (PoS L1) and Proof of Stake Layer 2 (PoS L2) blockchains. Let’s dig in!
Ethereum Name Service (ENS) – Offchain names, crypto-enabling DNS, v3, revenues | Fundamentals ep.54
In this episode of the Fundamentals podcast, we’re joined by Greg Skril, a core contributor at Ethereum Name Service (ENS). ENS is a distributed, open, and extensible naming system based on the Ethereum blockchain.
Crypto Fundamentals application launches today on the Bloomberg App Portal
Crypto Fundamentals is the first Digital Assets application of its kind that is made available via the Bloomberg App Portal.
Alchemix – Self-repaying loans with yield from deposited collateral | 15-min fundamentals ep.53
In this episode of the Fundamentals podcast, we're joined by Scoopy Trooples – Co-Founder of Alchemix – to discuss what Alchemix is and how it works, the protocol’s use cases, target customer profile, economic and business models, current growth drivers and challenges, the most exciting things coming up, the team behind the project, and more!
Blockchains (L1) – Weekly fundamentals #62
This week’s newsletter focuses on the blockchains (L1) market sector, that has a designated dashboard on Token Terminal. Let’s dig in!
Morpho – Building a secure protocol & the launch of Morpho-AaveV3 | Fundamentals ep.52
In this episode of the Fundamentals podcast, we're joined by Merlin Egalite – Co-Founder of Morpho – a lending pool optimizer that operates a peer-to-peer layer built on top of lending pools such as Compound and Aave, to dive into the details behind Morpho-Aave V3, and the teams approach to building a truly secure protocol.
Solana – Interview with Co-Founder Anatoly Yakovenko | Fundamentals ep.51
In this episode of the Fundamentals podcast, we're joined by Anatoly Yakovenko – Co-Founder of Solana – to discuss what Solana’s core value proposition is, the optimizations Solana has focused on, and how they are positioned within a multi-chain ecosystem.
Stablecoin issuers – Weekly fundamentals #61
This week’s newsletter focuses on the stablecoin issuers market sector, that has a designated dashboard on Token Terminal. Let’s dig in!
MakerDAO SES – Removing barriers between decentralized workforce, capital, and work | Fundamentals ep.50
In this episode of the Fundamentals podcast, we're joined by Wouter Kampmann, Co-Founder at MakerDAO Sustainable Ecosystem Scaling (SES) – a Core Unit that focuses on sustainably growing the Maker Protocol’s moats by removing barriers between decentralized workforce, capital, and work – to discuss the basics of Maker and the SES Core Unit.
15-minute fundamentals with Zora
In this episode of 15-minute fundamentals, we dive into the current state of Zora with Co-Founder & CTO Tyson.
Liquid staking – Weekly fundamentals #60
This week’s newsletter focuses on the liquid staking market sector, that has a designated dashboard on Token Terminal. Let’s dig in!
15-minute fundamentals with Trader Joe
In this episode of 15-minute fundamentals, we dive into the current state of Trader Joe with Co-Founder Murloc.
15-minute fundamentals with ether.fi
In this episode of 15-minute fundamentals, we dive into the current state of ether.fi with Founder & CEO Mike Silagadze.
Fees – Weekly fundamentals #59
This week’s newsletter focuses on fees, a metric that has a designated dashboard on Token Terminal. Let’s dig in!
15-minute fundamentals with Gauntlet
In this episode of 15-minute fundamentals, we dive into the state of Gauntlet with VP of Growth Nick Cannon.
NFT marketplaces – Weekly fundamentals #58
This week’s newsletter focuses on the NFT marketplaces market sector, that has a designated dashboard on Token Terminal. Let’s dig in!
15-minute fundamentals with Perpetual Protocol ep.2
In this episode of 15-minute fundamentals, we dive into the latest at Perpetual Protocol with core contributor Jamie Holmes.
Active developers – Weekly fundamentals #57
This week’s newsletter focuses on the active developers metric, that has a designated dashboard on Token Terminal. Let’s dig in!
15-minute fundamentals with Synthetix
In this episode of 15-minute fundamentals, we dive into the current state of Synthetix with core contributors Mike Griffith & Matt Losquadro.
Exchanges (DEX) – Weekly fundamentals #56
This week’s newsletter focuses on the Exchanges (DEX) market sector, that has a designated dashboard on Token Terminal. Let’s dig in!
15-minute fundamentals with Allbridge
In this episode of 15-minute fundamentals, we dive into the current state of Allbridge with Co-Founder Andriy Velykyy.
Daily active users – Weekly fundamentals #55
This week’s newsletter focuses on daily active users, a metric that has a designated dashboard on Token Terminal. Let’s dig in!
Introducing market sector dashboards
Benchmarking projects within a specific market sector has never been this easy! In our latest product update we’ve sought to bring even more structure to the Token Terminal web application.
15-minute fundamentals with PancakeSwap
In this episode of 15-minute fundamentals, we dive into the current state of PancakeSwap with Head Chef, Mochi.
15-minute fundamentals with Metavault.Trade
In this episode of 15-minute fundamentals, we dive into the current state of Metavault.Trade with Anna.
15-minute fundamentals with Arbitrum
In this episode of 15-minute fundamentals, we dive into the current state of Arbitrum with A.J. Warner – Chief of Strategy at Offchain Labs.
15-minute fundamentals with GMX
In this episode of 15-minute fundamentals, we dive into the current state of GMX with core contributor Coinflipcanada.
15-minute fundamentals with Across Protocol
In this episode of 15-minute fundamentals, we dive into the current state of Across Protocol with Co-Founder Hart Lambur.
15-minute fundamentals with Paragons DAO
In this episode of 15-minute fundamentals, we dive into the current state of Paragons DAO with DeFi Ted.
15-minute fundamentals with Gearbox Protocol
In this episode of 15-minute fundamentals, we dive into the current state of Gearbox Protocol with Amplice.
Introducing Financial statements for DAOs
A new era in fundamentals-based cryptoasset investing has begun.
15-minute fundamentals with Gains Network
In this episode of 15-minute fundamentals, we dive into the current state of Gains Network with Founder Seb.
Token Terminal: Key Metrics FAQ
An overview of Token Terminal's key metrics, why they matter, and how they're derived with examples included.
How much does it really cost to run a DAO?
A breakdown of the operational costs of MakerDAO, Lido, and SushiSwap
How decentralized are the cap tables in crypto?
An overview of the protocols with the largest number of tokenholders, and a breakdown of the balances of their tokenholders.
Who earns fees in crypto?
An overview of the blockchains and dapps that generate the most fees, and an illustration how those fees are distributed between the protocol and its supply-side participants.
How many active users are there in crypto, really?
A comprehensive overview of usage statistics for the most widely used protocols.
Is crypto dead?
It's not. Let's explore the state of crypto through the lens of fundamentals.
Blur – The NFT marketplace for pro traders
Blur launched in October 2022 and quickly established itself as the market leader in terms of volume in the NFT space. In this episode we gain insights into Blur's day-to-day operations.
Axie Infinity – Digital property rights for all users of the internet
A dive into the world of Axie Infinity with Co-founder Jeff (Jiho) Zirlin. We discuss the Ronin chain, Axie's two-token model, ensuring the long-term sustainability of Axie's economy, what the future has in store, and more.
Euler Finance – Growing in a bear market
DeFi lending in a bear market, drivers behind Euler’s growth, the Euler DAO, bad debt in DeFi, feeless flash loans, the Eulerswap AMM, and more.
#54
Weekly fundamentals #54
A peek into the current state of the DeFi lending market.
DeFi Education Fund – Policy education and advocacy to help DeFi
Miller Whitehouse-Levine, Policy Director at DeFi Education Fund (DEF), joined us for an interview to walk through the basics of DEF and the important role that Policy work plays within crypto.
Optimism – a Layer 2 scaling solution for Ethereum
Smit Vachhani, Head of DeFi at OP Labs, walks us through the basics of what Optimism is, how it works, how it's positioned within the Ethereum ecosystem, current growth drivers, challenges, and plans for the future.
#53
Weekly fundamentals #53
Vesting schedule (token unlocks) data is now live for the first batch of projects on Token Terminal.
BENQI – Liquid staking and lending on Avalanche
JD Gagnon, Co-Founder & CEO of BENQI joined us to discuss the basics of what BENQI is, how it works, how it's positioned within the market, growth drivers and challenges, and plans for the future.
#52
Weekly fundamentals #52
Growth in perpetual exchange trading volume due to market volatility and user migration from CEXs.
Pangolin – A multi-chain decentralized exchange
In this interview with Justin Trollip, CEO of Pangolin Exchange, we discuss the basics of what Pangolin is, how it works, how it's positioned within the exchange market, growth drivers and challenges, and plans for the future.
Morpho – A lending pool optimizer for better rates in DeFi
In this interview with Paul Frambot, Founder & CEO of Morpho Labs, we discuss the basics of what Morpho is, how it works, how it's positioned within the lending market, growth drivers and challenges, and plans for the future.
UniDex — Aggregating all of DeFi
In this interview with Krunal Amin, Founder & CEO of UniDex, we discuss the basics of what UniDex is and how it's positioned within the exchange market, current products and their features, growth drivers and challenges, and plans for the future.
StakeWise — A dual-token model for Ethereum liquid staking
In this interview with Kirill Kutakov, Co-founder of StakeWise, we discuss the basics of; what StakeWise is and how it's positioned within the liquid staking market, onboarding institutions, plans for the future, and more.
Weekly fundamentals #49
We added the Earnings metric to project dashboards, showcasing the difference between a project’s revenue and token incentives.
#48
Weekly fundamentals #48
Bridge exploits, Ethereum L2 revenues, and comparing the user acquisition costs between Rocket Pool and Lido Finance.
Ribbon Finance — Building a one-stop solution for crypto structured products
In this episode with Julian Koh, Co-Founder & CEO of Ribbon Finance, we dive into the current state of Ribbon and discuss recently launched products Ribbon Earn and Ribbon Lend, and the soon to be launched options exchange Aevo.
Decentral Games – Stabilizing the ICE Poker economy
In this episode with Miles Anthony, Co-Founder & CEO, we speak about the past 6 months at Decentral Games, the current state of the business, new game modes for ICE Poker, the ICE Merge, and what effects the recent changes have had on the Decentral Games ecosystem.
Perpetual Protocol – An on-chain perpetual futures exchange
Jamie Holmes joined us for an episode of 15-minute fundamentals to dive into the details behind the charts available on Token Terminal. Perpetual Protocol is an on-chain perpetual futures DEX with deep liquidity and builder-ready composability.
Hop Protocol – A rollup-to-rollup general token bridge
Hop is a scalable rollup-to-rollup general token bridge. It allows users to send tokens from one rollup to another almost immediately without having to wait for the rollup’s challenge period.
Livepeer – A decentralized video streaming network on Ethereum
Adam Soffer, Product Engineering Lead at Livepeer, joined us for an episode of 15-minute fundamentals to dive into the details behind the charts available on Token Terminal. Livepeer is a decentralized video streaming network built on the Ethereum blockchain.
Notional Finance – A fixed-rate crypto lending protocol
In this interview with Teddy Woodward, Co-founder of Notional Finance, we discuss the risks that lending protocols face during the Ethereum merge, give a detailed overview of Notional's tokenomics, and describe the different roles that community contributors have.
NFTX – A liquidity protocol for NFTs
In this interview with Quag we break down NFTX's operating model and learn about the drivers behind the data you see on Token Terminal's charts.
Weekly fundamentals #41
Sudoswap is now listed on Token Terminal.
DeFi Exploits: Trends, Patterns, and Lessons Learnt
Over $4.2B has been stolen over the past two years due to lacking security practices. This article explores trends and patterns behind these exploits, including the most common root causes.
Liquity's unstoppable stablecoin
In our second episode with Michael Svoboda from Liquity we discuss the censorship of USD-linked stablecoins, how the Terra crash and market volatility has affected Liquity, and how the truly DeFi native stablecoin LUSD is positioned amidst these events.
Weekly fundamentals #38
A walkthrough of the most interesting charts and trends across our key metrics.
The Definitive Guide to Crypto Domain Names
Crypto Domain Names provide two main benefits: (1) a transparent infrastructure for access to and maintenance of new domain names, and (2) mapping of non-human friendly blockchain addresses to human friendly ones.
Connext – trust-minimized crosschain communication
In this episode, we dive into the current state of Connext with Founder & CTO Rahul Sethuram.
Rook – An open MEV marketplace for Ethereum
In this interview with the project's CEO Hazard, we discuss Rook's operating and business models, MEV, Keepers, tokenomics, treasury, and more.
Weekly fundamentals #36
A walkthrough of the most interesting charts and trends across our key metrics.
Maple Finance – xMPL, Solana, and market volatility
In this interview, we discuss everything that has happened over the last three months including launching xMPL staking, and expanding to Solana. Tune in for the latest on Maple Finance and the plans for its future.
DeFi Saver – tools for tracking and managing your DeFi portfolio
In this episode of 15-minute fundamentals, we dive into the current state of DeFi Saver with Co-founder Nenad Palinkasevic.
Weekly fundamentals #33
A walkthrough of the most interesting charts and trends across our key metrics.
Interview with Michael Svoboda, COO of Liquity
A write-up of our discussion about the current state of Liquity with CEO Michael Svoboda.
Weekly fundamentals #32
A walkthrough of the most interesting charts and trends across our key metrics.
The state of Filecoin: A decentralized storage network
Filecoin is a decentralized peer-to-peer network that allows its users to store and retrieve data on the internet. It is an open platform and a market economy that connects people who have excess storage space with people who want to store data.
Polygon – Bringing the world to Ethereum
In 15-minute fundamentals, we interview core protocol contributors & together dive into the details behind the charts available on TokenTerminal. In this episode, we dive into the current state of Polygon with Aishwary Gupta.
Lido Finance – Liquidity for staked assets
In this episode, we discuss the current state of Lido's business, growth drivers, bottlenecks, future roadmap, and the complex topic of whether liquid staking protocols are becoming centralizing forces.
Weekly fundamentals #31
A walkthrough of the most interesting charts and trends across our key metrics.
Interview with Michael Bentley, Co-founder & CEO of Euler Finance
Euler's business model, differentiators to other lending protocols, current growth drivers, the EUL token, and more!
dYdX – a non-custodial trading, lending and derivates protocol
In this episode of 15-minute fundamentals, we dive into the current state of dYdX with Corey Miller.
Weekly fundamentals #30
A walkthrough of the most interesting charts and trends across our key metrics.
Interview with Joe Flanagan, Co-founder of Maple Finance
A write-up of our discussion about the current state of Maple Finance with Co-Founder Joe Flanagan.
The state of Optimism: An Ethereum Layer 2 scaling solution
Optimism is a scaling solution that increases Ethereum’s throughput by performing some computation off-chain. In technical jargon, Optimism is an optimistic rollup.
Ribbon Finance – 15-minute fundamentals
In this episode of 15-minute fundamentals, we dive into the current state of Ribbon Finance with Co-founder Julian Koh.
Weekly fundamentals #28
A walkthrough of the most interesting charts and trends across our key metrics.
The state of Ethereum Name Service (ENS)
Ethereum Name Service (ENS) is a naming system on the Ethereum blockchain. It improves the user experience of Ethereum by connecting human-readable names to machine-readable addresses.
Decentral Games – Play & Earn poker in the metaverse
The current state of Decentral Games' business, Miles' thoughts on the broader play-and-earn ecosystem, Decentral Games' plans for populating the metaverse, and what effect the recent changes in the market environment might have.
Weekly fundamentals #26
A walkthrough of the most interesting charts and trends across our key metrics.
Goldfinch – crypto borrowing without crypto collateral
In this episode of 15-minute fundamentals, we dive into the current state of Goldfinch with Blake West.
The state of Cosmos: A scalable network of application-specific blockchains
Cosmos is a network of blockchains that can securely communicate between each other to transfer data and value. The team behind Cosmos envisions a scalable network of application-specific blockchains.
15-minute fundamentals with Euler Finance
In this episode of 15-minute fundamentals, we dive into the current state of Euler Finance with Co-Founder & CEO Michael Bentley.
Weekly fundamentals #24
A walkthrough of the most interesting charts and trends across our key metrics.
Osmosis – 15-minute fundamentals
In this episode of 15-minute fundamentals, we dive into the current state of Osmosis with Alpin.
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Weekly fundamentals #22
A walkthrough of the most interesting charts and trends across our key metrics.
Liquity – 15-minute fundamentals
In this episode of 15-minute fundamentals, we dive into the current state of the Liquity protocol with CEO Michael Svoboda.
The state of Euler: A permissionless lending protocol
Euler is a lending protocol that allows users to borrow and lend almost any token on the Ethereum blockchain in a permissionless manner.
Weekly fundamentals #20
A walkthrough of the most interesting charts and trends across our key metrics.
Maple Finance – 15-minute fundamentals
In this episode of 15-minute fundamentals, we dive into the current state of the Maple Finance protocol and the plans for its future with the project's Co-Founder Joe Flanagan.
AMA session with Alchemist
Our first-ever Discord AMA session
Weekly fundamentals #18
A walkthrough of the most interesting charts and trends across our key metrics.
Weekly fundamentals #17
A walkthrough of the most interesting charts and trends across our key metrics.
The state of Centrifuge: Bringing real-world assets to DeFi
Centrifuge recently secured a Polkadot parachain slot with its promise to bridge the gap between real-world assets (RWAs) and decentralized finance (DeFi).
Weekly fundamentals #10
A walkthrough of the most interesting charts and trends across our key metrics.
Crypto tokens are productive assets
The cash flows of a protocol are eventually directed to its token holders
Why crypto is a lot different today than in 2017
In short: many protocols have evolved from R&D phase startups into cash flow-generating businesses
Weekly fundamentals #2
A walkthrough of the most interesting charts and trends across our key metrics.
Weekly fundamentals #1
A walkthrough of the most interesting charts and trends across our key metrics.
Introducing the price to earnings (P/E) ratio!
A natural next step after the price to sales (P/S) ratio
Customized data tables are live on Token Terminal!
How should investors assess the performance of AMMs?
Research
What is Perpetual Protocol (PERP)
Biweekly newsletter no. 13
The Compound Chain
Biweekly newsletter no. 12
The price to sales ratio (P/S)
Biweekly newsletter no. 11
Launching the Terminal
An Analyst's Guide to the Terminal
Uniswap post liquidity mining
Biweekly newsletter no. 10
Balancer
A deep dive on Balancer
Biweekly newsletter no. 9
DeFi through the lens of traditional marketplace metrics
Newsletter
Variant x Token Terminal: Interview with Jesse Walden
How to Pitch Crypto to Warren Buffett
Shifting the narrative from speculation to productivity
Aave vs. Compound: a comparison of the leading lending platforms
Newsletter
Augur x Token Terminal: Interview with Joey Krug
In this blog series, we interview founders from the crypto space to learn more about them and the products they’re building. For our most…
Zerion x Token Terminal: Interview with Evgeny Yurtaev
In this blog series we interview founders in the crypto space to learn more about what’s going on with their projects. Most recently, we…
Nervos x Token Terminal: Interview with Kevin Wang
In this blog series, we interview founders from the crypto space to learn more about them and the products they’re building. For our most…
zkSync – Ethereum Scaling Solution
TL;DR: zkSync (built by Matter Labs) is an L2 protocol for scalable low-cost payments on Ethereum, powered by ZkRollup technology. zkSync…
What is SKALE Network and how does it work?
TL;DR: SKALE Network is an L2 scaling solution for Ethereum, primarily aimed for scaling smart contracts. SKALE enables the creation of…
What is Optimism?
Optimism is the team behind the development of Optimistic Rollup (OR). OR is an Ethereum L2 scaling solution that promises an order of…
Enzyme Finance
Enzyme x Token Terminal: Interview with Mona El Isa
In this blog series, we interview founders from the crypto space to learn more about them and the products they’re building. For our most…
Crypto as an Asset Class — Why We Think Goldman Sachs Got It All Wrong
This article is aimed at institutional and other professional investors who are considering making an allocation to crypto.
Aave x Token Terminal: Interview with Stani Kulechov
In this blog series we interview founders in the crypto space to learn more about what’s going on with their projects.
UMA
UMA x Token Terminal: Interview with Allison Lu
In this blog series, we interview founders from the crypto space to learn more about them and the products they’re building.
Why Crypto Unlocks Innovation on the Internet
Open-source services level the playing field for developers
What is Set Protocol? - Automated Asset Management
TL;DR: Set protocol bundles crypto-assets into tokenized baskets that can be restructured based on any management or trading logic. The…
Ren
What is Ren?
Ren is a protocol that enables private transfer of value between blockchains.
Overview of Ethereum 2.0
L1 Blockchain series
NEAR Protocol
Overview of NEAR
L1 Blockchain Series
What is UMA?
TL;DR: UMA (Universal Market Access) is a protocol that enables users to create synthetic tokens through overcollateralization. A…
Cosmos Hub
Overview of Cosmos
L1 blockchain series
Overview of Polkadot
Polkadot is a blockchain network that allows blockchains to communicate and pool security while still letting them run their own functions.
Erasure Protocol - decentralized data marketplace for predictions
Research series
Opyn x Token Terminal: Interview with Aparna Krishnan
In this blog series, we interview founders from the crypto space to learn more about them and the products they’re building. For our third…
Nervos: A secure and decentralized L1 blockchain
Nervos is a proof-of-work (PoW) L1 blockchain optimized for app-specific L2 chains. Nervos wants its native asset (CKB) to function…
Aztec Network - a privacy engine for Ethereum
AZTEC is a privacy engine for Ethereum. The team is on a mission to enable data, user, and code privacy on public blockchains. The…
Hegic: On-chain Options Trading Protocol
Hegic is a protocol for on-chain hedging contracts (American options). The first implementation of the protocol focuses on…
What is Handshake (HNS) – decentralized naming protocol
TL;DR: Handshake is a blockchain for immutable top-level domains (examples of TLDs: .com .org .net). On Handshake, anyone can register and…
What is Gnosis?
TL;DR: Gnosis is a decentralized exchange that pools limit orders of different tokens, pays “solvers” to suggest how those orders should…
What is Opyn? DeFi-native derivatives and options infrastructure in DeFi
TL;DR: Opyn is a smart contract based insurance platform built on the Convexity Protocol.
Livepeer – decentralized video protocol
TL;DR: Livepeer is a protocol for decentralized video transcoding.
What is Chainlink and How Does it Work?
TL;DR: Chainlink is trying to introduce secure, sophisticated and scalable oracle services.
What is Aave? – a non-custodial lending protocol
Aave is a protocol for earning interest on your deposits and borrowing assets.
What is tBTC?
tBTC is a protocol that enables BTC holders to trustlessly move their BTC holdings to be used in Ethereum’s DeFi.
Kyber Network: Katalyst Upgrade
Kyber is implementing a dynamic token model where profits can be allocated in 3 different ways:
Balancer
What is Balancer Protocol? Everything You Need to Know
Research series
PoolTogether
Why PoolTogether Matters
Saving money is hard
Argent x Token Terminal: Interview with Itamar Lesuisse
In this blog series we interview founders in the crypto space to learn more about their entry into crypto and what’s going on with their…