DeFi
DeFi research & analysis
Decentralized finance covers lending, DEXs, derivatives, stablecoins, and yield infrastructure.
Headline TVL is not a thesis — researchers separate durable deposits from incentive-driven capital.
What to research
- Real fees and retention vs rented TVL
- Smart-contract and oracle risk
- Token value accrual vs governance-only coupons
- Liquidity depth on major venues
Key risks
- Exploit and admin-key risk
- Mercenary farming that exits when emissions end
- Stablecoin and oracle failure cascades
Tokens to research
Lido Staked EtherSTETH · $2,053.55 · mcap 19.99B
Wrapped stETHWSTETH · $2,564.48 · mcap 9.63B
syrupUSDCSYRUPUSDC · $1.19 · mcap 904.25M
Jupiter Perpetuals Liquidity Provider TokenJLP · $4.05 · mcap 752.05M
Binance Staked SOLBNSOL · $95.53 · mcap 909.78M
Staked USDaiSUSDAI · $1.12 · mcap 349.35M
tBTCTBTC · $73,622.00 · mcap 303.52M
StakeWise Staked ETHOSETH · $2,293.52 · mcap 339.39M
Staked AaveSTKAAVE · $123.77 · mcap 304.05M
PayFi Strategy Token USDCPSTUSDC · $1.14 · mcap 386.54M
Steakhouse USDC (Base) Morpho VaultSTEAKUSDC · $1.11 · mcap 105.66M
Marinade Staked SOLMSOL · $117.43 · mcap 187.11M
How Alphora researches DeFi
Start with sector risks and research focus above, open matching token pages for scores and market data, then continue in the desk for charts and AI briefs. Cross-check definitions in the glossary and use Research Score Top 100 to triage peers.
Page generated with live market data · Updated Wed, 11 Nov 2026 15:40:04 GMT