Users deposit assets into the protocol which then invests the assets according to predefined rules. The protocols usually charge a management fee and sometimes also a performance fee (revenue).

Asset management protocols offer smart contract-based ‘investment products', often referred to as vaults. The products invest user assets according to predefined investment strategies, with the goal of generating better yields than what the user could access on their own.

Asset management

Blockchains (L1) bring down the cost of incorporation to one function call. Once a DAO is deployed on a blockchain, it inherits the advantageous features of blockchains: access to global capital markets, global participation from contributors and customers, transparent and highly automated rules of operation, and an immutable audit trail.

Blockchains (L1) are smart contract execution environments that allow for the permissionless creation of smart contract-based businesses or DAOs.

Blockchains (L1)

Blockchains (L2) scale throughput horizontally by moving a set of transactions to a separate blockchain, and batching and settling them back to the underlying Blockchain (L1). This means that 1,000 transactions on the L2 become 1 transaction on the L1, which increases the throughput of the L1.

Blockchains (L2) are smart contract execution environments that allow for the permissionless creation of businesses and regularly timestamp their transaction activity to another Blockchain (L1) for increased security.

Blockchains (L2)

A cross-chain transfer can be executed in multiple different ways, usually by unlocking liquidity from liquidity pools or minting equivalent synthetic representations on the destination chain. The primary business model for bridges is to generate revenue by taking a cut of the transfer fees paid by users. That is, the bridge takes a portion of the relayers’ and/or liquidity providers’ revenue.

Bridges establish connections between blockchains. Each blockchain has a unique set of ground rules and parameters, and most do not have an in-built system to communicate with other blockchains. As a result, bridges were developed to allow blockchains to communicate with each other, enabling key functionalities such as cross-chain asset transfers.

Bridges

Derivatives protocols fetch reliable asset prices from oracle services, which forms the foundation of a derivatives contract. This allows users to trade and speculate on the prices of both cryptocurrencies and assets that are not native to the blockchain, such as gold, fiat currencies, or stocks. The primary business model for derivatives protocols is to generate revenue by taking a cut of the trading fees paid by users.

Crypto derivatives are financial contracts that derive their value from an underlying asset. They allow investors to speculate on or hedge the price action of an asset without directly owning or interacting with it. Crypto derivatives are a diverse market sector, with protocols that allow users to trade perpetual contracts, options contracts, interest rate swaps, and more.

Derivatives

Currently, most DEXs work as automated market makers (AMM). Instead of relying on traditional bid-and-ask orders, AMMs use liquidity pools and mathematical formulas to determine asset prices. Alternative DEX mechanisms include order books, aggregators, and hybrid models combining various approaches. Typically, DEXs generate revenue by taking a cut of the trading fees paid by traders.

Decentralized exchanges (DEXs) are smart contract-based platforms that enable trading of digital assets without the need for centralized intermediaries. Traditional financial transactions lack transparency and must rely on centralized intermediaries. In contrast, transactions on DEXs execute according to transparent rules set by smart contracts and provide complete visibility over the exchange process. As a result, DEXs reduce counterparty risk and increase execution guarantees.

Exchanges (DEX)

The primary business model for most gaming protocols is to generate revenue by receiving funds from in-game purchases, or by taking a cut from both primary and secondary sales of in-game assets. 

Gaming protocols utilize smart contracts for in-game digital assets and asset management. These digital assets are used for in-game characters and economies. Some protocols invest into game related assets.

Gaming

Oracles provide access to critical data or information outside of the blockchain ecosystem. Onchain domain name registries improve the UX of finding, identifying and utilizing a wallet address of an entity.

Infrastructure protocols are smart contract-based protocols that provide support functionality for e.g. DeFi protocols and DAOs in general. Some examples are oracles and domain name registries.

Infrastructure

Users purchase insurance policies that cover them against different types of risk. The users pay a certain premium which depends on what type of policy they buy. The goal of the insurance protocol is to receive more in premium payments (revenue) than it has to pay out in claims.

Insurance protocols protect users and projects against potential risks and losses. Users can purchase products that provide coverage for different kinds of risks. The risks can for example be related to governance attacks, oracle failures, smart contract exploits and asset custodians.

Insurance

Once an asset is represented as a token onchain, it can be deposited as collateral into a lending protocol, and a loan can be taken out against it. The primary business model for lending protocols is to generate revenue by taking a cut of the interest paid by borrowers. That is, the lending protocol takes a portion of the lenders’ revenue.

Lending protocols are smart contract-based marketplaces that allow for permissionless lending and borrowing of assets. Lending platforms are transparent, and operate on a global scale, removing the need for intermediaries like banks or financial institutions.

Lending

Users deposit assets into the protocol and in return receive a derivative liquidity token (liquid staking derivative, LSD). By holding the token the user is able to earn staking rewards without giving up the liquidity. The protocols usually take a cut of the staking rewards generated (revenue). 

Liquid staking protocols allow users to stake their assets and maintain liquidity via a derivative liquidity token (liquid staking derivative, LSD) that represents the underlying asset.

Liquid staking

Creators and collectors trade assets on NFT marketplaces. The primary business model for NFT marketplaces is to generate revenue by taking a cut of the primary or secondary sales. 

NFT (non-fungible token) marketplaces are smart contract-based marketplaces that enable trading and minting of unique digital assets. 

NFT marketplaces

Users bet against each other, the house or liquidity providers. The primary business model for prediction markets is to generate revenue by taking a cut of the betting volume. 

Prediction markets are smart contract-based marketplaces that enable users to bet on different events.

Prediction markets

Once a user has deposited collateral into a stablecoin protocol, they’re able to borrow stablecoins minted by the protocol. The primary business model for stablecoin issuers is to generate revenue by charging stablecoin borrowers interest on their loans. That is, the stablecoin issuer captures the interest paid by borrowers.

Decentralized stablecoin issuers are smart contract-based credit facilities that allow users to borrow stablecoins against crypto or real-world collateral assets. Stablecoins are often pegged to fiat currencies or other cryptocurrencies.

Stablecoin issuers

Market makers offer trades through order book & make money on bid-ask spreads paid by takers.

0x is a non-custodial exchange protocol built on Ethereum. 0x was founded by Amir Bandeali & Will Warren and launched in 2016.

ZRX tokenholders own and govern the protocol. They currently do not take any of the total trading fees paid by traders (revenue). 0x’s investors include Coinbase Ventures, Jump Capital, Pantera Capital, etc.

governance

github

twitter

discord

etherscan

website

The 1inch Aggregation Protocol routes users' trades through the most efficient path for a token swap and aggregates multiple non-custodial exchanges.

The 1inch Network unites multiple decentralized protocols built on Ethereum and other blockchains. This dashboard tracks the 1inch Aggregation Protocol, which is a non-custodial DEX aggregator. 1inch was founded by Sergej Kunz & Anton Bukov and launched in 2019.

The 1inch Network is governed by 1inch DAO – a decentralized autonomous organization. Voting on the DAO is performed through the 1INCH token, a governance token, that was initially distributed to the community of 1inch Network users in late 2020. They currently do not take a cut of the total trading fees paid by traders (revenue). 1inch's investors include ParaFi Capital, FTX Exchange, Pantera Capital, etc.

1inch

Lenders deposit funds into Aave and receive interest payments from borrowers (supply-side fees).

Aave is a non-custodial lending protocol built on Ethereum and other adjacent blockchains. Aave was founded by Stani Kulechov and launched in 2017.

AAVE tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue). Aave’s investors include ParaFi Capital, Framework Ventures, Three Arrows Capital, etc.

Aave

Overcollateralized borrowers deposit funds into Aave and receive GHO stablecoin.

Aave is the principal architect of GHO - an overcollateralized stablecoin pegged to the US dollar. Aave was founded by Stani Kulechov and launched in 2017.


AAVE tokenholders own and govern the protocol. They currently take all of the total interest paid by borrowers (revenue). Aave’s investors include ParaFi Capital, Framework Ventures, Three Arrows Capital, etc.


Aave GHO

Overcollateralized borrowers deposit funds into Abracadabra and receive MIM stablecoin.

Abracadabra is a non-custodial stablecoin protocol built on Ethereum and other adjacent blockchains. Abracadabra was founded by Daniele Sestagalli and launched in 2021.

SPELL tokenholders own and govern the protocol. They currently take all of the interest and borrow fees paid by borrowers (revenue).

Abracadabra.money

Across allows users to send tokens from one chain to another almost immediately without having to wait for the rollup’s challenge period. Liquidity providers provide liquidity and relayers handle the fills and in return they charge a transfer fee (supply-side fees).

Across is a cross-chain token bridge for L2s and rollups. Across was founded by Hart Lambur and launched in 2021.

ACX tokenholders own and govern the protocol. They currently don’t take a cut of the total transfer fees paid by the users (revenue). Across’ investors include Hack VC, Placeholder and Blockchain Capital.

Across

Trades are conducted between a signer and a sender & AirSwap takes a fee (revenue) which is assessed on the signer amount.

AirSwap is a non-custodial exchange built on multiple chains that allows direct peer-to-peer trading. AirSwap was co-founded by Don Mosites & Michael Oved and launched in 2017.

AST tokenholders own and govern the protocol. Revenue is currently distributed to a contributor tips pool and a voter rewards pool according to a set split. AirSwap DAO has not raised funds and the company that originally launched AirSwap is no longer operating.

AirSwap

Overcollateralized borrowers deposit funds into Alchemix and receive alUSD & a return on investment (supply-side fees).

Alchemix is a non-custodial lending & asset management protocol built on Ethereum. Alchemix was founded by pseudonymous Scoopy Trooples, etc., and launched in 2021.

ALCX tokenholders own and govern the protocol. They currently take a cut of the total return on investment (revenue). Alchemix’s investors include Alameda Research, CMS Holdings, Immutable Capital, etc.

Alchemix Finance

Validators process transactions and receive fees from users (supply-side fees).

Algorand is a smart contract platform for decentralized applications (a blockchain). Algorand was founded by Silvio Micali and launched in 2018.

ALGO holders own and govern the protocol. They currently take a cut of the transaction fees paid by users (revenue). Algorand's investors include Union Square Ventures, Multicoin Capital, Pillar, etc.

Algorand

Allbridge Core allows users to send stablecoins from one chain to another almost immediately by using native liquidity pools deployed across 5 EVM and non-EVM blockchains. Liquidity providers receive the majority of transfer fees paid by users (supply-side fees).

Allbridge Core is a cross-chain stablecoin bridge. Allbridge Core was co-founded by Yuriy Savchenko and Andriy Velykyy, and was launched in September 2022.

The Allbridge team own and govern the protocol. They currently take a cut of the transfer fees paid by the users (revenue). Allbridge Core’s investors include Race Capital and others.

Allbridge Core

Alongside’s first product is AMKT-a total market index token that tracks the top 25 digital assets in crypto passively by market cap. AMKT is rebalanced monthly and reconstituted on a quarterly basis to stay up-to-date with the latest market movements.

Alongside is an asset management protocol built on Ethereum. Alongside was founded by Austin Diamond, Gauthier Le Meur, Jun Ho Hong, Ratan (Rai) Sur and launched in 2022.

Alongside is the software provider to to AMKT DAO, which governs AMKT. The AMKT DAO is responsible for creating and maintaining the AMKT Benchmark, a benchmark tracking the crypto-asset market. The DAO is composed of two bodies – the holders of the first implementation of the Benchmark (the AMKT Token), and a set of AMKT Governance Stewards. The AMKT DAO currently charge a management fee which is captured through inflation (revenue). Alongside’s investors include a16z, Coinbase Ventures and Franklin Templeton.

Alongside

Lenders (Iron Bank) deposit funds into Alpha Homora and receive interest payments from borrowers (supply-side fees). We are currently only tracking Alpha Homora V2.

 Alpha Homora is a non-custodial protocol for leveraged yield farming by Alpha Finance built on Ethereum and other blockchains. Alpha Finance was founded by Tascha Punyaneramitdee & Nipun Pitimanaaree and launched in 2017.

ALPHA tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue). The Alpha Finance's investors include Multicoin Capital, Spartan Group, DeFiance Capital, etc.

Homora

Overcollateralized borrowers deposit funds into Angle and receive agEUR stablecoin.


Angle is a non-custodial stablecoin protocol built on Ethereum. Angle was co-founded by Pablo Veyrat and launched in 2021.

ANGLE tokenholders own and govern the protocol. They currently take a cut of the transaction fees paid by the users and the interest earned on collateral assets (revenue). Angle’s investors include a16z, Fabric Ventures, Wintermute, etc.

Angle

Ankr operates a global network of both full and validator nodes on an array of blockchains. These nodes provide the basis for services like Ankr Staking which delegates users’ tokens to blockchain validators and delivers liquid staking rewards (supply-side fees) to users for their contributions to validation efforts.

Ankr is a web3 infrastructure provider of blockchain API/RPC connections, developer tools, and liquid staking products. Ankr was founded and launched in 2017 by Chandler Song, Ryan Fang, and Stanley Wu.

ANKR tokenholders own and govern the protocol. They currently take a cut of the total staking rewards earned by the protocol (revenue). Ankr’s investors include Binance Labs, Block VC, MapleBlock Capital, Bixin Ventures etc.

Ankr

Liquidity providers deposit funds into ApeSwap and receive trading fees from traders (supply-side fees).

ApeSwap is a non-custodial exchange protocol built originally on BNB Chain. ApeSwap was founded by an anonymous team and launched in 2021.

BANANA tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

ApeSwap

Liquidity providers deposit funds into ApolloX and receive trading fees from traders (supply-side fees).

ApolloX is a non-custodial exchange for perpetual contracts built on BNB Chain. ApolloX was founded by an anonymous team and launched their flagship ApolloX v2 in April 2023.

APX tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). ApolloX's investors include Binance Labs, Kronos Research, etc.

ApolloX

Aptos is a smart contract platform for decentralized applications (a blockchain). Aptos was founded by Mo Shaikh and Avery Ching and launched in 2022.

APT token holders own and govern the protocol. They currently don’t take a cut of the total transaction fees paid by users (revenue). Aptos’ investors include Binance Labs, Jump Crypto, Apollo, etc.

Aptos

Aragon develops smart contract frameworks and other products which is funded by Aragon treasury.

Aragon develops and manages smart contract frameworks for creating and managing decentralized organizations. Aragon was founded by Luis Cuende and Jorge Izquierdo and launched in 2016.



ANT tokenholders own and govern the protocol. Aragon does not currently charge fees for providing the smart contract frameworks. Aragon's investors include Tim Draper, Boost VC, CoinFund, etc.

Aragon

Arbitrum batches users' transactions and submits them to Ethereum, paying a share of the transaction fees to Ethereum validators (expense).

Arbitrum is an L2 smart contract platform for decentralized applications on Ethereum. Arbitrum was founded by Offchain Labs and launched in 2021.

ARB tokenholders own and govern the protocol. They currently run the only sequencer and take a cut of the total transaction fees paid by users (revenue). Arbitrum’s investors include Polychain, Alameda Research, Coinbase Ventures, etc.

Arbitrum

Users deposit and lock assets on Ethereum in exchange of the same amount of an equivalent token on Arbitrum. Vice versa users can withdraw the assets from Arbitrum in exchange for the same amount on Ethereum.

Arbitrum Bridge is an asset bridge built on Ethereum and Arbitrum. Arbitrum Bridge was developed by Offchain Labs and launched in 2021.

ARB tokenholders own and govern the protocol. Arbitrum Bridge is part of the Arbitrum Foundation. Arbitrum Foundations investors include Polychain, Alameda Research, Coinbase Ventures, etc.

Arbitrum Bridge

Users deposit funds into Archblock account and receive TUSD at a 1:1 rate.

Archblock is a financial technology company that is the principal architect of TUSD - full-reserve fiat stablecoin that bring US dollar liquidity on-chain.

Archblock is a private company. Archblock's investors include BlockTower Capital, a16z etc.

Archblock

On-chain sleuths submit intel into Arkham Intel Exchange and receive fees from intel requestors (supply-side fees).

Arkham is an on-chain intelligence exchange protocol built on Ethereum. Arkham was founded by Miguel Morel and their on-chain protocol launched in 2023.

ARKM tokenholders own and govern the protocol. They currently take a cut of the total intel fees paid by intel requestors (revenue). Arkham's investors include DGC, Coinbase, Sam Altman etc.

Arkham

Miners process transactions, store information, and receive fees from users (supply-side fees).

Arweave is a smart contract platform and a data storage network (a blockchain). Arweave was founded by Sam Williams & William Jones and launched in 2017.

AR holders own and govern the protocol. They currently do not take a cut of the total transaction fees paid by users (revenue). Arweave’s investors include a16z, Coinbase Ventures, USV, etc.

Arweave

Liquidity providers (LPs) deposit funds into Aura Finance and receive a return on investment (supply-side fees).

Aura Finance is an asset management and staking protocol built on Ethereum. Aura Finance was founded by an anonymous team and launched in June 2022.

AURA tokenholders own and govern the protocol. They currently take a cut of the total yield generated (revenue).

Aura Finance

Validators process transactions and receive validator rewards (supply-side fees).

AVAX is a smart contract platform for decentralized applications (a blockchain). Avalanche was founded by Emin Gün Sirer and launched in 2019.

AVAX holders own and govern the protocol. They currently take (burn) all of the total transaction fees paid by users (revenue). AVAXs investors include a16z, Polychain, Galaxy Digital, etc.

Avalanche

Players buy/sell NFTs on the Axie marketplace. Players can also breed Axies or mint runes or charms against a fee.

Axie Infinity is a non-custodial game & marketplace built on Ethereum and other adjacent blockchains. Axie Infinity was founded by Trung Nguyen, Aleksander Larsen & Jeffrey Zirlin and launched in 2018.

AXS tokenholders own and govern the protocol. They currently take a cut of the total marketplace sales and all of the breeding, rune and charm fees paid by players (revenue). Axie Infinity's investors include ConsenSys, Hashed, Collaborative Fund, etc.

Axie Infinity

Liquidity providers deposit funds into Azuro's pools. Bettors bet against the liquidity providers according to the odds set by the protocol. Bettors’ losses get shared between Azuro DAO (revenue), and LPs, frontend providers and data providers (supply-side fees).

Azuro is an infrastructure & liquidity layer for on-chain betting built on Polygon and Gnosis. Azuro was launched in 2021.

Azuro DAO owns and governs the protocol. They currently take a cut from the losses of the bettors (revenue). Azuro’s investors include Arrington Capital, Delphi Digital, Ethereal Ventures, Gnosis, Alliance DAO, and others.

Azuro

Liquidity providers deposit funds into BadgerDAO and receive a return on investment (supply-side fees).

BadgerDAO is an asset management protocol built on Ethereum. BadgerDAO was co-founded by Chris Spadafora, Ameer Rosic, Albert Castellana, & Alberto Cevallos, and launched in September 2020.

BADGER tokenholders own and govern the protocol. They currently take a cut of the total return on investment & total assets under management paid by liquidity providers (revenue).

BadgerDAO

Liquidity providers deposit funds into Balancer and receive trading fees from traders (supply-side fees).

Balancer is a non-custodial exchange protocol built on Ethereum. Balancer was founded by Fernando Martinelli and launched in 2018.

BAL tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Balancer's investors include DeFiance Capital, Three Arrows Capital, Alameda Research, etc.

Balancer

Liquidity providers deposit funds into Bancor and receive trading fees from traders (supply-side fees).

Bancor is a non-custodial exchange protocol built on Ethereum. Bancor was founded by Galia Benartzi, Guy Benartzi, Eyal Hertzog, & Yudi Levi and launched in 2016.

BNT tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Bancor's investors include DeFiance Capital, ParaFi Capital, Mechanism Capital, etc.

Bancor

Liquidity providers deposit funds into Barnbridge and receive a return on investment (supply-side fees).

Barnbridge is an asset management protocol built on Ethereum. Barnbridge was founded by Troy Murray, Tyler Scott Ward & Bogdan Gheorghe and launched in 2020.

BOND tokenholders own and govern the protocol. They currently take a cut of the total return on investment & all of the total withdrawal fees paid by liquidity providers (revenue). Barnbridge’s investors include Fourth Revolution Capital, ParaFi Capital, Centrality, etc.

Barnbridge

Base batches users' transactions and submits them to Ethereum, paying a share of the transaction fees to Ethereum validators (expense).

Base is an L2 smart contract platform for decentralized applications on Ethereum. Base was founded by the Coinbase team and launched in 2023.

Coinbase team owns and governs the protocol. Coinbase is a public company and its investors include Andreessen Horowitz, Vanguard Group, ARK Investment Management, etc.

Base

Lenders deposit funds into BendDAO and receive interest payments from borrowers (supply-side fees). BendDAO has other business lines in addition, however this dashboard only tracks the BendDAO lending protocol.

BendDAO is a non-custodial NFT lending protocol built on Ethereum. BendDAO was founded by an anonymous team and launched in 2021.

BEND tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue).

BendDAO

Lenders deposit funds into BENQI and receive interest payments from borrowers (supply-side fees).

BENQI is a non-custodial lending protocol built on Avalanche. BENQI was founded by an international team of software developers and launched in 2021.

 QI tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue). BENQI’s investors include Dragonfly Capital, Mechanism Capital, Spartan, etc.

BENQI

Stakers deposit funds into BENQI and receive a return on investment in the form of staking rewards (supply-side fees).

BENQI Liquid Staking is the liquid staking derivative business line of BENQI. BENQI was founded by an international team of software developers and launched in 2021.

BENQI tokenholders own and govern the BENQI protocol, including the BENQI Liquid Staking business line. They currently take a cut of the total staking rewards earned by the protocol (revenue). BENQI's investors include Dragonfly Capital, Mechanism Capital, Spartan, etc.

BENQI Liquid Staking

Players wager against the house (liquidity provided by BetSwirl or their partners) in randomized games of chance, such as coin tosses or dice rolls.

Betswirl is a non-custodial betting platform built on Polygon, BNB Chain, and Avalanche. BetSwirl was co-founded by Romuald Hog and Nato, and was launched in March 2022.

The BetSwirl team own and govern the protocol. They and BETS holders currently receive all fees paid by players (revenue).

BetSwirl

Binance Chain is a smart contract platform for decentralized applications (a blockchain). Binance Chain was founded by Changpeng Zhao and launched in 2020.

BNB holders own and govern the protocol. They currently take a cut of the total transaction fees paid by users (revenue).

BNB Chain

Liquidity providers deposit funds into Biswap and receive trading fees from traders (supply-side fees).

Biswap is a non-custodial exchange protocol built on BNB chain. Biswap was founded by an anonymous team and launched in 2021.

BSW tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Biswap’s investors include Binance Labs.

Biswap

Miners process transactions and receive fees from users (supply-side fees).

Bitcoin is a distributed ledger for transfer and store of value (a blockchain). Bitcoin was founded by a pseudonym Satoshi Nakamoto and launched in 2009.

BTC holders own and govern the protocol. They currently do not take a cut of the total transaction fees paid by users (revenue).

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