Transparency Dashboard

The aggregate value of all cryptocurrency assets deposited in a protocol's smart contracts. It is a key metric for assessing a DeFi protocol's size and liquidity.

• Calculation: Sum of (Token Amount * Current Market Price) across all pools/vaults.
• Example: A lending protocol with $1B in supplied assets and $200M in borrowed assets has a TVL of $1B.
• Caveat: TVL can be inflated by double-counting across interconnected protocols or volatile token prices.

The number of unique blockchain addresses that were active as senders or receivers of transactions within a specific timeframe (e.g., 24 hours). It is a fundamental gauge of user adoption and network activity.

• Distinct from User Count: One user can control multiple addresses.
• Types: Often broken down into Daily Active Addresses (DAA) and Monthly Active Addresses (MAA).
• Utility: A sustained drop in active addresses can signal declining protocol engagement.

Measures the economic throughput and usage intensity of a blockchain or application.

• Volume: The total monetary value (e.g., in USD) of assets transferred.
• Count: The raw number of transactions confirmed on-chain.
• Analysis: High count with low volume may indicate micro-transactions or bot activity. A spike in volume can signal major asset movements or trading events.

Tracks the cost and demand for blockchain computational resources.

• Gas Fees: The payment users make to execute transactions or smart contracts, denominated in the native token (e.g., ETH, MATIC).
• Network Utilization: The percentage of block space or gas limit being used. High utilization (>90%) often leads to congestion and fee spikes.
• Purpose: Helps users time transactions and assess network economic activity.

The actual value accrued by a protocol's treasury or token holders from user activity. This is a direct measure of sustainable business model.

• Gross Revenue: Total fees paid by users (e.g., swap fees on a DEX, interest spreads on a lender).
• Net Revenue/Protocol Profit: Revenue after compensating suppliers (e.g., liquidity providers).
• Example: A DEX with $10M in 24h trading volume and a 0.3% fee generates $30,000 in gross revenue.

Analysis of token distribution to assess decentralization and systemic risk.

• Whale Wallets: Addresses holding a disproportionately large percentage of the total supply.
• Gini Coefficient / Nakamoto Coefficient: Metrics quantifying distribution inequality and the minimum entities needed to compromise the network.
• Risk: High concentration can lead to price manipulation or governance attacks if a few holders collude.

A core function is displaying real-time proof of reserves. This involves tracking the protocol's collateral assets on-chain and comparing them to its issued liabilities (e.g., stablecoin supply, lending positions). Key metrics include:

• Collateralization Ratio: Total value of assets / total liabilities.
• Asset Composition: Breakdown of reserves by asset type (e.g., ETH, USDC, staked assets).
• Address Attestation: Publicly listing the wallet addresses holding reserves for independent verification.

Dashboards track key risk parameters and governance-controlled variables for DeFi protocols. This provides transparency into potential vulnerabilities. Common monitored elements include:

• Loan-to-Value (LTV) Ratios: The maximum borrowing power against collateral.
• Liquidation Thresholds & Health Factors: Levels at which positions are automatically liquidated.
• Oracle Price Feeds: The data sources used for asset valuation, highlighting centralization risks.
• Admin Key Status & Timelocks: Visibility into privileged access and delay mechanisms for critical changes.

This section aggregates external validation efforts to build trust. It provides a centralized view of:

• Security Audit Reports: Links to and summaries of audits from firms like Trail of Bits, OpenZeppelin, or Quantstamp, including the date and scope.
• Bug Bounty Programs: Active status, platforms used (e.g., Immunefi), bounty ranges, and historical payouts.
• Code Verification: Confirmation that the deployed contract's bytecode matches the publicly available, audited source code.

For DAOs and governed protocols, dashboards quantify decentralization and participation. This includes:

• Voter Turnout & Distribution: Percentage of token supply participating in proposals and concentration of voting power.
• Proposal History & Execution: Track record of passed/failed proposals and on-chain execution via multisig or governance module.
• Treasury Management: Transparency into the DAO's treasury holdings, inflows, and outflows for grants and operational spending.

Beyond security, dashboards provide financial health indicators crucial for users and analysts. These are derived from immutable on-chain data:

• Total Value Locked (TVL): The aggregate value of assets deposited in the protocol's smart contracts.
• Revenue & Fee Generation: Protocol income, often broken down by source (e.g., lending spreads, swap fees).
• User & Transaction Activity: Unique active wallets, transaction volume, and gas expenditure attributed to the protocol.

A critical trust signal is how a protocol handles issues. Advanced dashboards maintain a transparent log of:

• Post-Mortem Reports: Detailed, public analyses of any exploits, bugs, or service disruptions.
• Mitigation Actions: Steps taken in response, such as pausing contracts, deploying fixes, or initiating white-hat recovery efforts.
• User Reimbursement Status: Tracking the progress of funds returned to users following an incident, often via on-chain proofs.

The practice of extracting, aggregating, and interpreting data recorded on a blockchain. It involves using specialized tools and queries to identify trends, measure network health, and track asset flows. A transparency dashboard is a product built to perform and present on-chain analytics.

• Key Metrics: Active addresses, transaction volume, gas fees.
• Purpose: Informing investment, development, and governance decisions.

A critical property of a blockchain where transaction data is published and accessible for anyone to download and verify. Transparency dashboards rely entirely on data availability. The term is especially prominent in layer-2 scaling solutions (e.g., rollups), where ensuring data is available on-chain is a security requirement.

• Core Concept: Data must be public for trustless verification.
• Contrast: Data withholding is a form of censorship.

The profit that can be extracted by reordering, including, or censoring transactions within a block. Transparency dashboards often track MEV metrics (e.g., sandwich attacks, arbitrage) to quantify this hidden cost and its impact on users. Understanding MEV is key to assessing network fairness and efficiency.

• Common Forms: Arbitrage, liquidations, frontrunning.
• Tools: MEV-Boost relays, MEV explorer dashboards.

A service that provides external, off-chain data (e.g., price feeds, weather data) to smart contracts on a blockchain. While transparency dashboards analyze on-chain state, oracles are the bridge for bringing verifiable real-world data on-chain. Their reliability and decentralization are critical for many DeFi applications.

• Examples: Chainlink, Pyth Network.
• Function: Secure external data feeds for on-chain logic.

A specialized interface, often a form of transparency dashboard, for participating in decentralized autonomous organization (DAO) decisions. It displays proposal details, voting power (often token-based), live voting results, and treasury analytics. It makes the governance process transparent and executable.

• Key Features: Proposal submission, voting, delegation, treasury stats.
• Purpose: Enabling decentralized decision-making.