
1) Executive summary CoW Protocol $COW is an intent-based trading layer where users sign orders describing the outcome they want and professional solvers compete in batch auctions to deliver the best
Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase our latest product updates. Read on for the latest edition 馃憞 Stablecoins and tokenized RWAs have
1) Executive summary Ethereum $ETH is a public, permissionless blockchain that provides global settlement and computation for an open economy of financial applications. It runs a single shared ledger
1) Executive summary Aave $AAVE is the largest lending project in decentralized finance: a set of onchain money markets where users supply assets to earn yield and borrowers take overcollateralized
1) Executive summary Avalanche $AVAX is a Layer 1 blockchain ecosystem built around fast settlement, EVM-compatible smart contracts, and customizable Avalanche L1s. The network's Primary Network
Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase our latest product updates. Read on for the latest edition 馃憞 Tokenized assets have evolved into a
1) Executive summary Steakhouse Financial is an onchain risk curator for lending vaults. Founded in 2023 by Mark Phillips, S茅bastien Derivaux, and Adrian Cachinero Vasiljevic, Steakhouse operates as a
Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase our latest product updates. Read on for the latest edition 馃憞 BlackRock鈥檚 OnChain Shares filing adds
Tokenized assets or RWAs are one of crypto鈥檚 fastest-growing sectors. Here are the charts showing which assets, issuers, and chains are driving the growth of each sector. Let's dive in. 1. Tokenized
1) Executive summary Pendle $PENDLE is a yield-trading project that enables users to tokenize and trade onchain yield via principal tokens (PTs) and yield tokens (YTs). This lets users access
Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase our latest product updates. Read on for the latest edition 馃憞 The best crypto businesses do not just
1) Executive summary Ether.fi $ETHFI is a liquid staking and DeFi project that enables users to stake assets, access automated yield strategies, and spend against their crypto holdings.
Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase our latest product updates. Read on for the latest edition 馃憞 The following charts highlight four
Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase our latest product updates. Read on for the latest edition 馃憞 Only ~10% of onchain dollars pay yield
1) Executive summary Morpho $MORPHO is an open credit network for onchain lending and borrowing. The project's architecture separates lending into two layers: Morpho Markets, where isolated lending
Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase our latest product updates. Read on for the latest edition 馃憞 Tokenized commodities are a $5.3B market
The first report to analyse Hybrid Finance Finance is being rewired. What is actually happening is more consequential and more durable: traditional capital markets infrastructure and on-chain rails
Over the past five years, Token Terminal has built the data infrastructure layer for crypto, transforming raw blockchain data into standardized financial and usage metrics across 100+ blockchains,
Asset tokenization represents the primary use case for blockchains, moving the industry beyond crypto-native circular activity into real-world financial markets. Blockchains function as transparent,
1) Executive summary Silo Finance is a decentralized lending project built around a single architectural principle: risk isolation. Each lending market ("silo") pairs one collateral asset with one
1) Executive summary Sky $SKY is a decentralized stablecoin issuer that offers two USD-pegged stablecoins, USDS and DAI, both backed by crypto collateral. Users can deposit USDS into the Sky Savings
1) Executive summary Aerodrome $AERO is a decentralized exchange (DEX) operating on the Base network, serving as its central trading and liquidity marketplace. Built on the ve(3,3) model, Aerodrome
1) Executive summary GMX $GMX is a decentralized perpetual exchange that launched on Arbitrum. GMX later expanded to Avalanche, and launched V2, introducing isolated GM pools for more
1) Executive summary LayerZero $ZRO enables secure, permissionless messaging between blockchains. It provides immutable endpoint contracts deployed across 160+ networks, allowing applications to send
Tokenized assets represents the fastest-growing corner of onchain finance. Investors, builders, or researchers that want to track the performance of these assets rigorously -- across issuers, chains,