LIVE Route Command · flow view DEFILLAMA —

Barter · Route Command

The Liquidity
Must Flow

Where capital is held · where it moves · where it stays

$35 billion sits in lending markets right now, and it is growing. Liquidity is the commodity everything else runs on — and like every commodity, it is worth more where it moves than where it is stranded. Most of it sits still not from loyalty but because moving is expensive: gas, complexity, the fear of breaking a working position. The obstacle isn't the protocols. It's the cost of passage. We open the route, then earn the stay — measured by what remains after incentives stop, never by what we can rent for a week.

Live — DefiLlama public API, refreshed on this page Pre-launch — unlocks when our own metering ships

Liquidity Held

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six reservoirs · — over 7d

Flowed Through Us · 30d

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routed by Barter · aggregator

Flowed Through Us · 24h

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Autopilot adds —

Liquidity Rerouted

NOT STARTED

needs: attribution engine + refi router

The Reservoirs

live · api.llama.fi

Where the liquidity is currently held. These are well-built products with real users — which is exactly why they are worth learning from. Read this on the Ethereum tab. All-chain totals show six growing reservoirs and no opening; at chain granularity the real movement appears — capital that is already looking for passage.

The Passage

three stages · each one earns a longer stay

STAGE 01

Aggregator

passage costs nothing

We already win the fill on six venues, so trying us moves no capital and risks nothing. The only promise here is a better price, shown in basis points saved.

Volume routed · 7d

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live · DefiLlama aggregator adapter

▶

STAGE 02

Lending

still water starts earning

Leftover balance enters a fixed rate with a maturity. Duration appears — and with it a reason to stay that isn't a reward: a rate that was chosen and is still running.

Swap → Lend conversion

PRE-LAUNCH

unlocks with the Conduit meter

▶

STAGE 03

Autopilot

it never leaves your wallet

Balances earn where they already sit, self-custody, withdraw any time. Nothing to unwind means nothing to fear — which is why this is the step people keep.

Volume facilitated · 7d

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live · in-wallet liquidity

Instruments

calibrated · awaiting first cohort

Retention Curve

The number that decides whether this worked. If the lines converge after incentives taper, we earned real users. If the incentivized line falls away, we rented capital. Shown here is our underwriting model — 30% retention, deliberately pessimistic, not a measurement.

ORGANIC · model 71% at day 60 INCENTIVIZED · underwritten at 30%

Budget & Quality

Two dials that can stop the programme. Both read zero until the incentive ledger opens.

Budget Runway

NOT OPEN

days of spend left · alert under 21

Incentive-Chasing Share

NO COHORT

capital likely to leave at taper · watch over 0.40

Verified Share

NO ROSTER

quality-adjusted vs reported wallets

Navigator's Log

flow readings + build status

Preview — sample profile, not live data

—Score

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Standing

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Days active

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Products used

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How your score is built

nothing here rewards raw volume

Contribution Breakdown

Your share of each distribution is proportional to this score. It is deliberately built so that parking capital for a snapshot scores near zero and staying scores well.

Fees you actually paid—

Real usage. Volume alone counts for nothing — only the fee it generated.

Capital × time held—

Integral of your balance over time, and only after seven days. Snapshots never count.

Cross-product multiplier—

One product 1.0× · two 1.5× · all three 2.0×. Depth beats breadth of wallets.

Your cohort's retention—

You benefit when the people who arrived with you also stay. Farming crowds dilute their own multiplier.

score = w₁·fees_paid + w₂·Σ(balance × days held) + w₃·product_multiplier + w₄·cohort_retention
weights published before the season opens · never changed retroactively · quality-adjusted before it counts

Rewards

Paid in USDC from protocol revenue — never in a token you would have to sell.

Earned to date

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Next distribution

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Vested share

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If you exit now

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Missions

useful actions only · no click-farming

People you brought

paid on their activity, never on their signup

Referral Stream

You earn a share of the fees your invitees actually pay, streamed weekly for as long as they stay active. Nothing is paid for a signup, so inviting inactive wallets earns nothing.

Wallet	Joined	Fees paid	Your share	Status

The Rules, Plainly

Every one of these exists because someone else's campaign was farmed to death.

01Raw volume earns nothing. Wash-trading yourself costs gas and returns zero — the score reads fees, not turnover.

02Snapshots earn nothing. Balance is integrated over time with a seven-day floor, so depositing before a cutoff and leaving after it is worthless.

03Leaving early forfeits. Rewards vest across the life of your position; closing before day 30 gives up the unvested part.

04Splitting into many wallets loses money. Multipliers are per-wallet and compound with depth, and linked wallets are scored as one.

05Rules never change retroactively. Weights and the taper schedule are published before a season opens.