Liquidity Score Changelog

Impact Notes

• Absolute TVL Depth fallback: `20 * log10(tvl / 100_000) + 20` → `35 * log10(tvl / 700_000)`; coins without market cap data no longer gain ~24 points of unearned TVL Depth
• Aerodrome/Velodrome Slipstream price observations now derive from on-chain sqrt_ratio instead of reserve ratios; concentrated liquidity pools no longer emit biased spot prices when one side lacks a tracked USD price
• Slipstream pools where sqrt_ratio is unusable and one side has no tracked price are now dropped entirely (no reserve-ratio fallback derivation)

Impact Notes

• Non-Curve DeFiLlama pools that share token symbols with a Curve pool no longer inherit Curve registry metadata, balance ratios, token prices, or metapool-adjusted TVL
• CoinGecko/GeckoTerminal provider ids with underscores or provider suffixes normalize to the same canonical protocol family as DeFiLlama ids during pool-identity construction
• Staged discovery now skips a staged exact pool-id row when it uniquely matches one primary DeFiLlama UUID row by chain, protocol, token set, and pool-shape family, while ambiguous same-pair staged buckets still remain separate

Impact Notes

• Intraday PancakeSwap volume no longer collapses toward zero until UTC rollover just because the current day bucket has only accumulated partial activity
• Fresh non-swap day buckets can no longer zero out yesterday's still-relevant trading activity, because trailing volume now comes from summed hourly swap buckets
• The PancakeSwap direct fetch keeps bounded batching under The Graph row cap while staying on official subgraph entities instead of adding a new historical block lookup dependency

Impact Notes

• CoinGecko tickers fallback and discovery staging no longer drop every post-March-2026 ticker row just because CoinGecko now returns `trust_score = null`
• Orderbook fallback ticker intake now requires finite USD price/volume plus a stable exchange identifier, improving sanitization without depending on deprecated metadata
• Balancer direct API pools now reserve and dedupe by the true pool address, restoring exact-id confirmation against staged discovery and overlap checks

Impact Notes

• GeckoTerminal, CoinGecko Onchain, and DexScreener staging rows that claim Balancer, Fluid, Raydium, Orca, Meteora, PancakeSwap, Aerodrome, or Velodrome liquidity now require authoritative exact-id confirmation when the matching direct fetch succeeded cleanly on that chain
• The guard fails open when the authoritative source is unavailable or degraded, so discovery sources still recover coverage during native-source incidents instead of hard-zeroing the row
• Liquidity cron metadata now records `stagedPoolsSkippedByAuthoritativeProtocol` separately from exact-id and derived-identity dedupe skips

Impact Notes

• TVL Depth uses effective-TVL-to-market-cap ratio on a log scale (35 × log10(ratio / 0.0007)), with absolute fallback for coins without market cap data
• Volume Activity recalibrated: 38 × (log10(V/T) + 3) — zero line at 0.1% V/T, tops at ~32% V/T. USDC/USDT now score 86-90 instead of 52-56
• Pool Quality measures quality retention (qualityAdjustedTvl / totalTvl, rescaled from 15-80% range to 0-100). Fully size-independent
• Weights rebalanced from 35/20/22.5/15/7.5 to 30/20/20/20/10 — structural quality (Pool Quality + Durability = 40%) now matches depth + activity (50%)
• Coins like BOLD and LUSD with high relative depth ratios see significant score improvements; large-cap coins with low relative depth see depth dimension scores decrease but compensate through volume, durability, and diversity

Impact Notes

• Bunni is now excluded during crawl intake and DeFiLlama pool processing instead of being treated as a live DEX venue
• Retained-pool filters and challenger snapshots ignore Bunni even if stale rows or unexpected inputs survive earlier gates
• Liquidity scores, dexPriceUsd, and downstream DEX cross-checks no longer count Bunni TVL, pool counts, or protocol medians

Impact Notes

• Sub-threshold direct API pools now still block later exact-address staged duplicates from re-entering scoring with incompatible TVL semantics
• GeckoTerminal and CoinGecko discovery rows can no longer inflate liquidity by resurrecting the same exact direct pool after the direct row was excluded from scoring
• Balancer stablecoin pools now dedupe correctly against Balancer direct API even when DefiLlama labels the row as generic `balancer-v3` without stable subtype metadata

Impact Notes

• Pools that are skipped as duplicates or dropped by retained-pool quality filters can no longer keep influencing dex_prices
• dexPriceUsd, price_sources_json, and downstream dexPriceCheck consumers now reflect the same retained pool surface used for challenger publication and UI liquidity detail
• High-TVL discovery rows that never survive retained-pool admission can no longer manufacture near-peg DEX aggregates for depegged assets

Impact Notes

• Meteora DLMM pools now enter the direct-API merge path with measured TVL, volume, balances, and fee data
• PancakeSwap V3 pools now add protocol-native primary coverage across BSC and supported EVM chains through official Graph subgraphs
• Aerodrome Slipstream and Velodrome Slipstream pools now contribute pool-state TVL, balances, fees, and DEX-price observations via the on-chain Sugar view contracts
• Direct-source precedence over overlapping DeFiLlama rows now requires measured non-zero 24h volume, so Slipstream pool-state rows expand coverage without displacing stronger DL rows when volume telemetry is absent
• New concentrated-liquidity quality buckets now score PancakeSwap and Slipstream fee tiers consistently with existing Uni V3 logic

Impact Notes

• GeckoTerminal and CoinGecko Onchain token crawls now read multiple bounded pages instead of stopping after page 1
• DexScreener and CoinGecko tickers fallback now trigger for weak partial coverage, not only coins with zero pools or no DEX price
• Fallback orderbook rows now preserve explicit synthetic/decayed/provenance flags instead of masquerading as organic USDC pools
• Coverage confidence now incorporates protocol breadth, source-family breadth, measured balance share, measured price share, and synthetic or decayed TVL share
• Direct-API pools default to a shorter maturity assumption and Fluid reserve normalization now marks whether balances were safely measured
• Shared secondary-pool contribution logic centralizes GT/CG/staged/fallback aggregate handling to reduce drift across merge paths

Impact Notes

• Direct API and staged/fallback pools resolve tracked assets by chain+address first, with chain-scoped symbol fallback only when unique
• Cross-source pool dedupe now uses exact pool ids first and derived token-shape matches only when they are unique on both sides
• Repeated sightings of the same physical pool across direct API, staged, and fallback sources now collapse before dex_prices weighting
• Depeg challenger inputs publish from the full retained pool set instead of the visible top-pools subset
• Fluid pools with missing token decimals now fall back to neutral balance rather than using unsafe raw reserve units

Impact Notes

• Fluid top-pool rows now populate Balance and Detail when the official DexReservesResolver is deployed on that chain
• Fluid pool quality now uses measured balance health on resolver-backed EVM chains, rather than a hardcoded neutral 1.0
• Fluid fee detail now comes from the on-chain pool config (`1% = 10_000`), normalized to basis-point badges in the UI
• BSC and Plasma Fluid pools remain on neutral-balance fallback until Fluid ships the same resolver path there

Impact Notes

• Direct-API Balancer, Raydium, and Orca pools now populate top-pool balance bars and detail badges
• Measured direct-API balance ratios now feed balance-weighted aggregates, stress, and effective TVL instead of assuming 1.0
• Balancer weighted pools normalize balance health against target token weights rather than raw reserve symmetry
• Orca vault balances are normalized from raw token units before balance-health calculation
• Top-pool fee tiers now serialize as actual basis points (for example 1bp, 5bp, 30bp) across UniV3, CG-onchain, and direct APIs

Impact Notes

• Raydium lower-case poolType contract fix restores live Solana pool coverage
• Orca now paginates via cursor.next with retry/backoff and a below-threshold stop, instead of truncating after page 1
• Direct API pools are fingerprint-deduped and preferred over overlapping DeFiLlama pools before score computation
• Direct API sources merge before staged/DexScreener/CG-ticker fallbacks, preventing lower-confidence sources from claiming the same pool first
• direct_api-only rows now classify as primary coverage (confidence 1.0) instead of fallback coverage
• Fluid volume now uses one-sided USD-normalized pool volume instead of double-counting raw token legs
• Balancer intake is limited to supported stable/weighted pool families on mapped chains only

Impact Notes

• Volume activity now uses log-scale (33.3*log10(V/T/0.005)) — median score rises from 5 to ~35
• Cross-chain component removed; TVL Depth raised to 35%, Pool Quality to 22.5%
• Durability: organic 15% (sqrt curve), TVL stability 35%, volume consistency 25%, maturity 25%
• Locked liquidity sub-component removed from durability (no reliable data source)

Impact Notes

• Filtered or TVL-capped pools can no longer keep influencing score inputs through stale aggregate fields
• HHI now uses the full retained pool set before display truncation; global 7d volume is pool-deduped
• Staged pool merge now dedups against token-pair fingerprints and preserves raw DEX metadata/quality multipliers
• DEX price observations require a consistent $50K post-confidence TVL floor across source families

Impact Notes

• Discovery cron runs independently on 20-min trigger with ~15 min budget (was 5 min shared)
• Staged pools receive confidence decay: max(0.5, 1 - ageHours/48), excluded after 24h
• Chain-aware source routing reduces wasted API calls by skipping irrelevant chains
• Tiered priority with exponential backoff prevents looping on pool-less coins

Impact Notes

• Metapool-adjusted TVL now applies only to address-matched Curve pools
• Symbol-fallback pools keep their own TVL in effective TVL calculations
• Removes accidental score inflation from cross-pool symbol collisions

Impact Notes

• CG/GT/DS pools deduped against DeFiLlama using token-pair fingerprints
• Secondary-source pool TVL capped and proportionally scaled by protocol-level DeFiLlama ceilings
• Global protocol and chain TVL totals kept consistent after cap reductions

Impact Notes

• DexScreener fallback adds pools for tracked coins still missing after primary crawl
• CoinGecko tickers fallback synthesizes orderbook liquidity where AMM coverage is absent
• Reduces false zero-liquidity outcomes for long-tail and niche assets

Impact Notes

• No-liquidity rows now persist liquidity_score as NULL instead of 0
• Daily history placeholders for no-pool coins also use NULL scores
• Downstream consumers can distinguish not-rated from genuinely low-liquidity assets

Impact Notes

• CG Onchain became primary source (with GT fallback) for richer pool metadata
• Durability weights changed from 40/25/20/15 to 35/25/20/15/5
• Locked liquidity added as an explicit durability sub-component

Impact Notes

• Weights changed from 35/25/20/10/10 to 30/20/20/15/7.5/7.5
• TVL depth switched to effective TVL, not raw TVL only
• Durability and per-component score breakdown persisted in D1

Impact Notes

• Initial five-component composite (TVL depth, volume, pool quality, diversity, cross-chain)
• DeFiLlama-driven pool aggregation and top-pool persistence introduced
• Liquidity map endpoint and page-level leaderboard shipped