DeFi Balance Sheets
/timeseries/defi-balance-sheets
Last updated
/timeseries/defi-balance-sheets
Last updated
The DeFi balance sheets endpoint has been released as a CM Labs project. Breaking changes may be introduced with minimal notice. Please exercise caution given the endpoint's experimental nature.
Coin Metrics collects various data from DeFi protocols and we serve this data in the form of DeFi balance sheets from our /timeseries/defi-balance-sheets API endpoint.
The protocols covered in our DeFi balance sheets endpoint are listed below:
Aave V2
aave_v2_eth
2020-12-01
Compound V2
compound_v2_eth
2019-05-17
The /timeseries/defi-balance-sheets endpoint returns time series data for each DeFi protocol requested. The response is formatted as follows:
defi_protocol
DeFi protocol name.
block_height
Height of the underlying blockchain's block (number of confirmed blocks since Genesis block).
time
The time in ISO 8601 date-time format. Always with nanoseconds precision.
assets_total_usd
The valuation of total assets, in USD value, that have been allocated to the protocol.
assets_total_count
The count of unique assets allocated to the protocol.
assets
An array of summary info associated with each asset allocated to the protocol, including asset, which represents the ticker of the constituent asset; total_units, which represents the total units of the constituent asset in this protocol; total_usd, which represents the total USD value that asset represents; and total_share, which represents the ratio of total USD valuation of that asset relative to the total USD valuation of the assets allocated to the protocol.
loans_lent_total_usd
The amount, in USD, that the protocol has lent out to users of the platform. Protocols
like AAVE loan user deposits to borrowers. As a reminder, our balance sheet takes the
perspective of the protocol itself. Since these loans are expected to be repaid to the
protocol, they fall into the assets column as a type receivable.
tvl_total_usd
The Total Value Locked (TVL) of the protocol. TVL differs from Total Assets, as it
represents the assets that are within the protocol and have not been lent out. In other
words, the difference between TVL and Total Assets represents the aggregate value of
loans made by the protocol.
liabilities_total_usd
The total value, in USD, of liability tokens issued by the protocol. Liability tokens are
issued to users that have deposited cryptoassets into the protocol, similar to capital deposited by customers at a bank. These are tokens exclusively minted by DeFi
protocols and usually follow specific nomenclature standards. For example, AAVE
issues a-tokens like aUSDC, whereas compound issues c-tokens like cUSDC.
liabilities_total_count
The total count of different types of liabilities issued by the protocol. For example, if
AAVE were to exclusively issue aUSDC and aUSDT, this field would return a value of 2.
liabilities
An array showcasing summary information associated with each liability issued by the
protocol, including asset, which represents the ticker of the constituent liability;
total_units, which represents the total units of the constituent asset in this protocol;
total_usd, which represents the total USD value that asset represents; and share,
which represents the ratio of total USD valuation of that liability relative to the total USD valuation of the assets allocated to the protocol.
net_working_capital_usd
Net Working Capital represents the difference between TVL (tvl_total_usd) and
Total Liabilities (liabilities_total_usd). This ratio can be interpreted as a
measure of the protocol’s ability to meet its short-term obligations, such as the
repayment of its liabilities (e.g. a-tokens).
protocol_utilization_ratio
The Protocol Utilization Ratio represents the ratio of loans made by the protocol
(loans_lent_total_usd) divided by its liabilities (liabilities_total_usd). As such, it is intended to represent how much the protocol is being used. In lending protocols, for example, this metric would reflect how efficiently the protocol is generating loans with its deposited capital.
liquid_supply_ratio
The Liquid Supply Ratio represents the ratio between TVL (tvl_total_usd) and Total
Liabilities (liabilities_total_usd). In lending protocols, for example, this can be
interpreted as the percentage of the supply allocated to the protocol that is liquid and
can be used for loans.
current_ratio
If users make the assumption that a DeFi lender's liabilities (deposited capital from
Aave users) can mostly be considered short-term liabilities, then the current ratio can be
conservatively approximated by TVL (tvl_total_usd) / Total Liabilities
(liabilities_total_usd), which is the same as the Liquid Supply Ratio above.
debt_to_assets_ratio
The Debt to Assets Ratio represents the ratio between Total Liabilities
(liabilities_total_usd) and Total Assets (assets_total_usd). For many
protocols, especially lending platforms, this ratio is expected to always be close to 1
given the dynamics of DeFi loans.
A sample of DeFi balance sheet data in json format is provided below.
