DefiLlama Integrates Forgd Market-Maker Leaderboard for Crypto Liquidity Data

Crypto analytics platform DefiLlama has integrated Forgd's market-maker leaderboard, providing users with access to data on spreads, market depth, trading volume and uptime across crypto market makers. The integration allows DefiLlama users to compare market makers across exchanges and assess liquidity supporting individual tokens. The dashboard ranks crypto market makers using standardized measures of pricing, depth, reliability and execution quality, drawing data from more than 500 token projects and 35 market-making firms that use Forgd's tools to monitor liquidity across active engagements.

Forgd Leaderboard Tracks Market Maker Performance Across 500+ Token Projects

Forgd first launched the leaderboard in May as a tool for token projects selecting and monitoring liquidity providers. The data comes from more than 500 token projects and 35 market-making firms that use Forgd's tools to monitor liquidity across active engagements, according to the company. Ryan Celaj, DefiLlama's head of research, said the integration adds another signal for evaluating execution quality and market resilience alongside metrics such as volume and liquidity.

Forgd CEO Clarifies Rating Methodology Reflects Data Participation

The ratings do not solely reflect observed trading performance. "A lower grade on the index is not necessarily a judgment of a firm's trading," Forgd CEO Shane Molidor told Cointelegraph. "It reflects that they haven't yet fully opted into performance verification." This means that the leaderboard ratings may also reflect the amount of data a market maker provides to Forgd.

DefiLlama Integration Adds Market Maker Comparison Tool

The integration allows DefiLlama users to compare market makers across exchanges and assess the liquidity supporting individual tokens. Forgd and DefiLlama did not disclose financial terms for the integration.

FAQ

What does the Forgd market-maker leaderboard on DefiLlama show?

The Forgd market-maker leaderboard on DefiLlama ranks crypto market makers using standardized measures of pricing, depth, reliability and execution quality, with data from more than 500 token projects and 35 market-making firms.

Why do some market makers have lower ratings on Forgd's leaderboard?

According to Forgd CEO Shane Molidor, a lower grade on the index is not necessarily a judgment of a firm's trading but reflects that they haven't yet fully opted into performance verification, meaning ratings may also reflect the amount of data a market maker provides to Forgd.

When did Forgd first launch its market-maker leaderboard?

Forgd first launched the leaderboard in May as a tool for token projects selecting and monitoring liquidity providers.