Forgd brings its crypto market-maker leaderboard to DefiLlama
Forgd’s ratings draw on data from more than 500 token projects and 35 market-making firms, but do not solely reflect trading performance.
DefiLlama, a crypto analytics platform, has integrated Forgd’s market-maker leaderboard, providing users access to data on spreads, market depth, trading volume, and uptime. Forgd claims the rankings are based on standardized measures of pricing, depth, reliability, and execution quality, gathered from over 500 token projects and 35 market-making firms using their tools to monitor liquidity.
The integration enables DefiLlama users to compare market makers across exchanges and evaluate liquidity supporting individual tokens. DefiLlama’s head of research, Ryan Celaj, asserts that the addition enhances the platform's ability to assess execution quality and market resilience. However, the ratings do not solely reflect observed trading performance.
Forgd CEO Shane Molidor clarified that a lower grade on the index doesn't necessarily indicate a firm's trading performance but rather that they haven't fully opted into performance verification. Additionally, Molidor explained that the leaderboard ratings may also reflect the amount of data provided to Forgd. The companies have no other financial arrangement specifically related to the dashboard.
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