Traders and analysts can now see how the firms behind a token’s liquidity actually perform, from inside the platform they already use every day
NEW YORK, Aug. 5, 2026 /PRNewswire/ — Crypto traders and analysts can now evaluate market-maker performance the same way they evaluate volume, TVL, and fees. Forgd, a Web3 investment bank and advisory platform, today announced that its Market Maker Leaderboard is live on DefiLlama, bringing standardized market-maker performance data to one of crypto’s most widely used analytics platforms.
The leaderboard ranks leading crypto market makers, the firms whose constant buying and selling keeps tokens tradable, on standardized measures of pricing, market depth, reliability, and execution quality. How well these firms do their job affects every trade, yet until now there’s been no way to check their track record.
“Crypto traders already look at volume, liquidity, TVL, unlocks, fees, and other market indicators,” said Shane Molidor, Founder and CEO of Forgd. “Market-maker quality is another indicator that should be closely analyzed. You can’t accurately judge a token’s liquidity without understanding who’s providing it, and how well they perform.”
What traders and analysts can do with the data
Because the leaderboard lives inside DefiLlama and other widely used analytics platforms, users can fold market-maker quality directly into their existing workflows, including:
- Token research — check whether a token’s liquidity is backed by firms with a strong execution record before taking a position
- Liquidity and risk analysis — distinguish durable liquidity from headline volume, and flag markets likely to break down under stress
- Venue comparison — see how the same firms perform across different exchanges and market environments
“Volume alone does not tell you whether a market has healthy, reliable liquidity,” said Ryan Celaj, Head of Research at DefiLlama. “Bringing Forgd’s market-maker performance data into DefiLlama gives traders another practical signal for evaluating execution quality and market resilience, directly within the research workflow they already use.”
Behind the data
The leaderboard is powered by data from more than 500 token projects and 35 market-making firms that use Forgd’s tools to monitor liquidity across live engagements — a standardized record of how firms have performed across different tokens, venues, and market conditions. Forgd first introduced the leaderboard in May 2026 as a tool for token projects evaluating market makers; the DefiLlama integration extends that same data to the broader market.
The integration is part of Forgd’s ongoing effort to make crypto market structure more transparent.
About Forgd
Forgd is a Web3 investment bank and advisory platform equipping blockchain projects with tools for tokenomics design, market-maker engagement, liquidity monitoring, and exchange listing support. With options for bespoke advisory services and free self-service products, Forgd helps token projects design, launch, and manage healthier markets. New projects can join for free at Forgd.com.
About DefiLlama
DefiLlama is the largest open-source data platform for decentralized finance (DeFi) and the broader onchain economy, tracking key metrics across thousands of protocols and chains. Its coverage spans stablecoins, real-world assets, blockchains, yields, and traditional finance, built on an open-source, publicly auditable methodology that gives researchers, traders, institutions, and journalists a neutral source of truth for the crypto industry. Beyond its free core dashboards, DefiLlama offers a growing suite of products, including LlamaAI, its AI-powered data assistant, the DefiLlama Mobile App, and DefiLlama Pro, a subscription tier with advanced dashboards and premium tools. Explore the data for free at defillama.com.
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SOURCE Forgd
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