DefiLlama integrates Forgd's crypto market-maker leaderboard

The data utilized for these rankings is derived from over 500 token projects and 35 market-making firms that leverage Forgd's tools to monitor liquidity in their active engagements. This integration enables DefiLlama users to compare market makers across various exchanges and evaluate the liquidity underpinning individual tokens.

Forgd initially launched the leaderboard in May as a resource for token projects seeking to select and oversee liquidity providers. Ryan Celaj, DefiLlama’s head of research, noted that the integration introduces an additional metric for assessing execution quality and market resilience, complementing existing metrics like volume and liquidity.

However, Forgd CEO Shane Molidor emphasized that the ratings do not exclusively reflect observed trading performance. He explained to Cointelegraph that a lower index grade is not necessarily a judgment on a firm's trading capabilities but rather indicates that the firm has not fully opted into performance verification. Consequently, the leaderboard ratings may also be influenced by the volume of data a market maker provides to Forgd.