> ## Documentation Index
> Fetch the complete documentation index at: https://peak-docs.birdeye.so/docs/llms.txt
> Use this file to discover all available pages before exploring further.

# DeFi & Protocols

> Data Dictionary — defi and protocols terms with definitions, formulas, units, and source commands

TVL, revenue, user activity, DEX/lending metrics, and competitive benchmarks.

***

### TVL (Total Value Locked)

Total value of assets held in a DeFi protocol's smart contracts.

```
Formula   Σ(Held Asset × Price)
Unit      USD
Example   $4.5B
```

**Related** · Market Cap, DEX Volume

**Used in** · [`PRA`](/docs/docs/core-concepts/commands/by-object/protocol#pra-protocol-analysis) · [`DEP`](/docs/docs/core-concepts/commands/by-object/protocol#dep-dex-performance) · [`DFA`](/docs/docs/core-concepts/commands/by-object/network#dfa-defi-activity) · [`LST`](/docs/docs/core-concepts/commands/by-object/protocol#lst-lending-stats)

***

### Protocol Revenue (30D)

Fees earned by a protocol over the last 30 days.

```
Formula   Σ(Fees) over 30D
Unit      USD
Example   $12.5M
```

**Related** · TVL, Application Revenue

**Used in** · [`PRA`](/docs/docs/core-concepts/commands/by-object/protocol#pra-protocol-analysis) · [`DFA`](/docs/docs/core-concepts/commands/by-object/network#dfa-defi-activity)

***

### Capital Efficiency

Ratio of trading volume generated per unit of liquidity deployed (DEX pools).

```
Formula   Volume 24H / TVL
Unit      Ratio
Example   2.5x
```

**Related** · TVL, DEX Volume

**Used in** · [`LTD`](/docs/docs/core-concepts/commands/by-object/token#ltd-live-trades) · `MLA`

***

### Market Share (Protocol)

A protocol's share of its sector's total TVL or volume.

```
Formula   Protocol TVL / Sector TVL × 100
Unit      %
Example   35.2% of DEX TVL
```

**Related** · TVL, Protocol Competition

**Used in** · [`PCP`](/docs/docs/core-concepts/commands/by-object/protocol#pcp-competition) · [`DCP`](/docs/docs/core-concepts/commands/by-object/protocol#dcp-dex-comparison)

***

### Protocol Type

Functional category of a protocol (DEX, Lending, Staking, Bridge, Launchpad, etc.).

```
Unit      Category
Example   DEX
```

**Related** · Protocol Sector

**Used in** · [`PRA`](/docs/docs/core-concepts/commands/by-object/protocol#pra-protocol-analysis) · [`PRSC`](/docs/docs/core-concepts/commands/by-object/cross-object#prsc-protocol-screening)

***

### Protocol Sector

Broader industry classification a protocol belongs to.

```
Unit      Category
Example   DeFi — Lending
```

**Related** · Protocol Type

**Used in** · [`PRA`](/docs/docs/core-concepts/commands/by-object/protocol#pra-protocol-analysis)

***

### Protocol Family

Lineage of a protocol — parent project, forks, and derivative versions.

```
Unit      Relationship
Example   SushiSwap (fork of Uniswap V2)
```

**Related** · Protocol Competition, Protocol Type

**Used in** · [`PRA`](/docs/docs/core-concepts/commands/by-object/protocol#pra-protocol-analysis)

***

### Protocol Supported Networks

List of blockchain networks a protocol is deployed on.

```
Unit      Network[]
Example   Ethereum, Arbitrum, Polygon, BSC
```

**Related** · Protocol Type, Multi-Chain

**Used in** · [`DEP`](/docs/docs/core-concepts/commands/by-object/protocol#dep-dex-performance) · [`PRA`](/docs/docs/core-concepts/commands/by-object/protocol#pra-protocol-analysis)

***

### Protocol Total Markets / Pairs

Number of active trading pairs or lending markets on a protocol.

```
Formula   Count(active pairs or markets)
Unit      #
Example   1,250 trading pairs
```

**Related** · Trading Volume, TVL

**Used in** · [`DEP`](/docs/docs/core-concepts/commands/by-object/protocol#dep-dex-performance) · [`LST`](/docs/docs/core-concepts/commands/by-object/protocol#lst-lending-stats)

***

### Average Swap Size

Mean value per swap transaction on decentralized exchanges.

```
Formula   Swap Volume / Swap Count
Unit      USD
Example   $2,400
```

**Related** · Swap Volume, Trade Size Distribution

**Used in** · [`DUA`](/docs/docs/core-concepts/commands/by-object/protocol#dua-dex-user-analysis)

***

### Swap Volume

Aggregate value of token swap transactions on DEXs within a period.

```
Formula   Σ(swap trade values)
Unit      USD
Example   $180M (24H)
```

**Related** · DEX Volume, Avg Swap Size

**Used in** · [`DUA`](/docs/docs/core-concepts/commands/by-object/protocol#dua-dex-user-analysis)

***

### Active Users (24H)

Unique wallets that interacted with a protocol in the last 24 hours.

```
Formula   Count(unique tx senders, 24H)
Unit      #
Example   15,200
```

**Related** · New Users, Returning Users

**Used in** · [`PRA`](/docs/docs/core-concepts/commands/by-object/protocol#pra-protocol-analysis) · [`UAC`](/docs/docs/core-concepts/commands/by-object/protocol#uac-user-acquisition)

***

### New Users

Wallets interacting with a protocol for the first time in a period.

```
Formula   Count(first-time senders)
Unit      #
Example   2,100 (24H)
```

**Related** · Active Users, Churned Users

**Used in** · [`UAC`](/docs/docs/core-concepts/commands/by-object/protocol#uac-user-acquisition)

***

### Returning Users

Wallets that have interacted before and transacted again in the period.

```
Formula   Active Users − New Users
Unit      #
Example   13,100 (24H)
```

**Related** · Active Users, Churned Users

**Used in** · [`UAC`](/docs/docs/core-concepts/commands/by-object/protocol#uac-user-acquisition)

***

### User Overlap

Count of wallets that are active on two or more protocols simultaneously.

```
Formula   Intersection of user sets
Unit      #
Example   5,400 shared users
```

**Related** · Active Users, Protocol Comparison

**Used in** · [`UPE`](/docs/docs/core-concepts/commands/by-object/protocol#upe-user-preference)

***

### User Frequency Segment

Classification of users by interaction frequency (daily, weekly, monthly, one-time).

```
Formula   Count per frequency bucket
Unit      % / #
Example   Daily: 12%, Weekly: 28%, Monthly: 60%
```

**Related** · Active Users, Returning Users

**Used in** · [`UPE`](/docs/docs/core-concepts/commands/by-object/protocol#upe-user-preference)

***

### User Value Distribution

Segmentation of protocol users by portfolio value tier.

```
Formula   Count per value bucket, aggregated and over time
Unit      % / #
Example   under $1K: 65%, $1K–$100K: 30%, >$100K: 5%
```

**Related** · Smart Wallet Count, Active Users

**Used in** · [`UPO`](/docs/docs/core-concepts/commands/by-object/protocol#upo-user-profile)

***

### Whale Wallet Count

Number of wallets exceeding a high-value threshold.

```
Formula   Count(wallets with balance > threshold)
Unit      #
Example   142 wallets (>$1M)
```

**Related** · Whale Activity, Holder Distribution

**Used in** · [`DXT`](/docs/docs/core-concepts/commands/by-object/token#dxt-dex-trader-analysis) · [`CWT`](/docs/docs/core-concepts/commands/by-object/token#cwt-cex-whale-tracker)

***

### Whale Net Flow

Net token movement into/out of whale wallets over a period.

```
Formula   Whale Inflow − Whale Outflow
Unit      Tokens / USD
Example   +$12M net inflow
```

**Related** · Whale Trades, CEX Flows

**Used in** · [`CWT`](/docs/docs/core-concepts/commands/by-object/token#cwt-cex-whale-tracker)

***

### Smart Wallet Count

Number of wallets classified as smart money based on historical PnL and behavior.

```
Formula   Count(wallets meeting smart money criteria)
Unit      #
Example   85 smart wallets
```

**Related** · Institutional Wallet Count, Smart Money

**Used in** · [`UPO`](/docs/docs/core-concepts/commands/by-object/protocol#upo-user-profile)

***

### Institutional Wallet Count

Number of wallets identified as belonging to institutional entities (funds, VCs, exchanges).

```
Formula   Count(labeled institutional wallets)
Unit      #
Example   42 institutional wallets
```

**Related** · Smart Wallet Count, Whale Wallet Count

**Used in** · [`UPO`](/docs/docs/core-concepts/commands/by-object/protocol#upo-user-profile)

***

### Bot vs Human Ratio

Proportion of trades or volume attributed to automated bots versus human traders.

```
Formula   Bot Volume / Total Volume
Unit      Ratio / %
Example   Bots: 38%, Humans: 62%
```

**Related** · Smart Money, Trade Count

**Used in** · [`DUA`](/docs/docs/core-concepts/commands/by-object/protocol#dua-dex-user-analysis)

***

### Protocol Competition

Benchmarking metrics (TVL, volume, users, revenue) across peer protocols.

```
Formula   Side-by-side comparison (max 5)
Unit      Multiple
Example   Uniswap vs SushiSwap
```

**Related** · TVL, Market Share

**Used in** · [`PCP`](/docs/docs/core-concepts/commands/by-object/protocol#pcp-competition)

***

### Protocol Developer Activity

Code development metrics for a protocol including commits, contributors, and repositories.

```
Formula   Commits per period, active contributors
Unit      # / period
Example   125 commits, 18 contributors (30D)
```

**Related** · Protocol Family, Protocol Type

**Used in** · [`PRA`](/docs/docs/core-concepts/commands/by-object/protocol#pra-protocol-analysis)

***

### DEX Market Share by Users

Percentage of total DEX users attributable to each DEX protocol.

```
Formula   DEX Users / Total DEX Users × 100
Unit      %
Example   Uniswap: 42%, Raydium: 25%
```

**Related** · Active Users, Market Share

**Used in** · [`DUA`](/docs/docs/core-concepts/commands/by-object/protocol#dua-dex-user-analysis)