How DeFiLlama Filters Real Yield Pools

Filtering for "real" yield pools on DeFiLlama is not simply about chasing the highest APY. The key is to layer three dimensions together: TVL, the source of yield data, and APY stability. Rushing into a pool just because its APY spikes above 50% will most likely end up gifting money to others.

Step 1: Check TVL First — Total Value Locked Is the First Filter for Yield Authenticity

TVL (Total Value Locked) measures the total amount of capital sitting inside a pool. The higher the TVL, the better the liquidity, the harder it is for a single whale to manipulate, and the less susceptible the pool is to flash loan attacks that can distort yield data.

• Practical step: Set your minimum TVL filter to over $1 million. Many high-APY trap pools have TVLs far below this threshold, and using it will automatically screen out most high-risk pools.

• How you know it's done: You have set minTvlUsd: 1000000 or higher in the filter, and the list no longer shows pools with only a few thousand dollars in TVL.

Step 2: Identify the Data Source — Not All Yield Comes from "Real Revenue"

Yield data on DeFiLlama mainly falls into two categories. The source determines how sustainable the yield really is:

• Yield from real protocol revenue: For example, borrowing interest on lending platforms, or trading fees on a DEX. This type of yield is sustainable and won't collapse even with short-term fluctuations.

• Yield from project token incentives: Protocols reward liquidity providers with their own governance tokens. These yields can look extremely high, but the tokens themselves are highly volatile, and the incentives can be reduced or stopped at any time. When a project lacks genuine profitability, dumping tokens is the easiest option.

DeFiLlama uses two fields — apyBase and apyReward — to separate these types of yield:

• apyBase: The annualized yield coming from real protocol revenue. More solid.

• apyReward: The bonus portion coming from project token subsidies. Highly volatile; approach with caution.

• Practical step: When screening yield pools, prioritize pools with a higher apyBase rather than only looking at the total apy figure.

• How you know it's done: You have learned to distinguish between apyBase and apyReward and use this as a basis for judgment.

Step 3: Look at APY Stability — Use the 30-Day Average Instead of the Real-Time Value

A pool showing a 50% APY today might have only reached that because someone made a large transaction yesterday that caused fees to spike; by tomorrow it could fall back to 5%. Relying solely on real-time APY can severely mislead your assessment.

• Practical step: DeFiLlama's screening tool supports sorting by apy_30d_mean (30-day average APY). Use this value to evaluate a pool's true yield level — it is far more reliable than a single day's data.

• How you know it's done: For the pools you select, the gap between apy and apy_30d_mean falls within a reasonable range (for example, no more than 3-5 percentage points), rather than seeing an extremely high real-time value with a very low average.

Step 4: Check IL Risk (Impermanent Loss Risk)

For liquidity pools, this field tells you directly whether it is a single-asset pool or a dual-asset pool.

• exposure: "single": Single-asset pool, no impermanent loss.

• exposure: "multi": Dual-asset LP pool, carries impermanent loss risk.

• Practical step: If you're new or don't want to bear impermanent loss, you can check noIlRisk: true to display only single-asset pools. If you can accept LP yield, you should still deduct the potential impact of impermanent loss when calculating your total return.

• How you know it's done: You clearly know whether the pools you've chosen carry impermanent loss risk, and you have made a selection based on your own risk tolerance.

A Complete Screening Combination (Reference)

Using DeFiLlama's filters, you can combine the following conditions:

The above parameters can be set manually on the DeFiLlama Yield page, or implemented for automated screening via API or third-party tools.

How to Confirm You've Screened Correctly

After filtering, choose a pool with high TVL, a dominant apyBase component, and a stable 30-day average APY. Then go to the protocol's official website and verify the yield. If the number displayed on DeFiLlama doesn't match the one on the protocol's official site, it could be a data synchronization issue — in that case, treat the protocol's official website as the authoritative source.