Forgd Market-Maker Leaderboard Lands on DefiLlama
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- DefiLlama has integrated Forgd's crypto market-maker leaderboard into its platform, giving users access to data on spreads, market depth, trading volume, and uptime across exchanges.
- Forgd first launched the leaderboard in May as a tool for token projects selecting and monitoring liquidity providers, with data drawn from more than 500 token projects and 35 market-making firms.
- Forgd CEO Shane Molidor warned that lower grades don't necessarily reflect poor trading performance — they often indicate a market maker hasn't fully opted into Forgd's performance verification.
- DefiLlama head of research Ryan Celaj said the integration adds a new signal for evaluating execution quality and market resilience alongside the platform's existing volume and liquidity metrics.
- The leaderboard ranks firms using standardized measures of pricing, depth, reliability, and execution quality, according to an announcement Forgd sent to Cointelegraph.
- Forgd and DefiLlama did not disclose financial terms for the integration.
Why it matters: Token projects and investors now get a standardized way to compare crypto market makers on execution quality across 35 firms and 500+ token projects. The catch, per Forgd's CEO: a low grade may simply mean a firm hasn't shared enough performance data — so the leaderboard measures transparency as much as trading skill.
