The integration provides DefiLlama users with standardized metrics on liquidity, execution quality, and reliability across 35 market-making firms.
Crypto analytics platform DefiLlama has incorporated Forgd’s market-maker leaderboard, offering users data on spreads, market depth, trading volume, and uptime. The dashboard ranks 35 market-making firms using standardized measures of pricing, reliability, and execution quality across more than 500 token projects.
Forgd launched the leaderboard in May to help token projects evaluate liquidity providers. The ratings draw on active engagements but do not solely reflect observed trading performance. Firms may receive lower grades if they have not fully opted into performance verification, according to Forgd.
DefiLlama’s head of research said the integration adds a new signal for assessing market resilience alongside traditional metrics like volume and liquidity. Users can now compare market makers across exchanges and tokens using the dashboard.