DeFi Pulse

DeFi Pulse is an analytics and ranking platform for decentralized finance (DeFi), established in August 2019. Its core business tracks Total Value Locked (TVL) across major DeFi protocols on Ethereum, providing real-time rankings by category such as lending, DEXs, and derivatives. The platform also maintains a registry that flags centralization, economic, and security risks for each project.

Its flagship product, the DeFi Pulse Index (DPI), launched in September 2020 with Index Coop, is a market-cap-weighted ERC-20 token tracking top Ethereum DeFi assets like Aave and Uniswap. DPI allows investors to gain diversified exposure to the DeFi sector through a single token, solving the pain point of high entry barriers and complex management when investing in multiple protocols individually. The index undergoes quarterly rebalancing via smart contracts, ensuring transparency and alignment with market conditions.

In the past six months (March to September 2026), DPI's price declined from around $48 to $47.46 as of August 30, 2026, reflecting a 58.8% drop year-over-year. Notably, DPI has been bridged to Arbitrum via Chainlink's CCIP technology, enabling cross-chain usage and offering ARB token rewards to holders. The index continues to serve as a benchmark for the DeFi industry, though investors should remain mindful of inherent market volatility and Ethereum network limitations.