Turtle has launched a brand new framework designed to measure and reward one of many scarcest belongings in digital finance, onchain liquidity.
The corporate introduced the launch of the Turtle Liquidity Leaderboard, which ranks members by verified deposits, person distribution, and engagement multipliers, making a standardized scoreboard for protocols and liquidity suppliers.
The launch comes at a time when market depth has weakened throughout digital belongings. Kaiko reported that liquidity for the highest 50 altcoins by market depth fell about 30% within the first quarter of 2025, reflecting each declining market-making incentives and focus in fewer belongings. With protocols competing for sturdy liquidity, Turtle’s system reframes how capital allocation is tracked and rewarded.
The leaderboard applies three classes to members. A Liquidity Rating measures time-weighted deposits into supported companions, a Distribution Rating tracks liquidity introduced by person referrals, and Boosts apply multipliers for verifiable identification and exercise.
Not like factors applications or engagement leaderboards, which frequently depend on impressions or social metrics, the framework relies on capital that can not be simply falsified.
Turtle’s chief govt, Essi, stated within the launch that liquidity has been missed in favor of self-importance metrics and the corporate goals to heart it because the sign that issues most.
The announcement builds on momentum Turtle has generated by means of earlier campaigns. Its distribution protocol has coordinated liquidity for ecosystem launches since 2024, mobilizing over $4 billion in deposits throughout greater than 300,000 wallets, based on firm supplies.
Throughout Arbitrum’s TAC “Summoning” occasion earlier this 12 months, Turtle vaults attracted greater than $100 million within the first week, $150 million by the second, and in the end round $790 to $800 million in liquidity by the point of the mainnet launch, with Curve founder Michael Egorov amongst these collaborating.
The agency’s community scale was cited once more in Could when it secured a $6.2 million seed spherical led by THEIA, with participation from Susquehanna Worldwide Group, ConsenSys, and Nomura’s Laser Digital.
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The corporate has additionally experimented with cross-domain leaderboards. In June, Turtle went dwell on Kaito’s Yapper consideration leaderboard, which ranks members by engagement. The liquidity leaderboard extends this strategy to capital flows, aligning protocols and allocators by measuring verifiable commitments reasonably than impressions.
Chief expertise officer Nick Thoma described it as combining liquidity and distribution with social incentives to present protocols capital that is still.
Comparable coordination methods have not too long ago drawn market curiosity. Incentive platforms similar to Royco have reached almost $3 billion in complete worth locked by means of mechanism design that channels capital throughout protocols, and long-standing bribe and ve-token fashions on Curve and Velodrome proceed to affect liquidity allocation. By making a clear and composable scoreboard, Turtle goals to supply a aggressive layer that protocols also can white-label for their very own launches.
Future iterations of the leaderboard are deliberate to incorporate protocol-specific rankings, additional SocialFi integrations, and mechanics merging cultural engagement with monetary contribution.
Turtle positions the system as a method for liquidity suppliers to achieve visibility and for protocols to attain extra environment friendly distribution of capital.
The framework is scheduled to increase within the coming months.
Turtle stated the leaderboard will evolve right into a white-label part that protocols can embed straight into their campaigns, combining time-weighted deposits, referral flows, and verified person alerts right into a single measure of market dedication.
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