Bloomberg for DeFi
where can I compare financial metrics for DeFi protocols?
Today I was trying to solve the problem of how to compare protocols in DeFi within the same category.
I’m interested to learn more about yield aggregators in particular, like YFI.
Basically, the tool I was looking for was Bloomberg, but for DeFi. But the point of Bloomberg is that you know which figures and metrics you need to see, and for DeFi, not even this is obvious — so having flexibility is important.
I asked Twitter about it and Dune Analytics and Token Terminal were the two main answers.
Dune is a much more comprehensive solution, based on dashboards you build with data taken directly from Ethereum. You can create queries, so it had the information I needed.
It also feels more DeFi-y (if that’s a word) — the whole design (form and function) is more DeFi, less TradFi. It allows for more out-of-the-box metrics, since you can query basically any information.
But it still lacks good go-to dashboards on the major topics. For example, for yield aggregators, I could only find data on YFI.
Since you have the option to build your own, I started to do that (here)— but it takes effort, so it’s a placeholder for something I’ll need to do later.
Token Terminal is much more manicured in that sense - you have all the metrics neatly placed, but a much smaller dataset to work with. Basically, you look at what TT team puts there.
But to visualize the more standard metrics like P/S, TVL, etc for the main protocols, it works.
Token Terminal is better and more direct if you just want the more obvious data. Dune is much more complete and customizable, but its community needs to build more good public dashboards (maybe a token is coming to incentivize that...?).
I’ll go with Dune Analytics, it will take some effort to build but it’s the only way to get the more detailed/customizable info.