Turtle bets liquidity not vanity will rule crypto with new leaderboard system
Turtle has launched a new framework designed to measure and reward one of many scarcest property in digital finance, onchain liquidity.
The firm introduced the launch of the Turtle Liquidity Leaderboard, which ranks members by verified deposits, consumer 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 property. 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 property. 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 Score measures time-weighted deposits into supported companions, a Distribution Score tracks liquidity introduced by consumer referrals, and Boosts apply multipliers for verifiable identification and exercise.
Unlike factors packages or engagement leaderboards, which frequently depend on impressions or social metrics, the framework relies on capital that can’t be simply falsified.
Turtle’s chief government, Essi, mentioned within the launch that liquidity has been neglected in favor of vanity metrics and the corporate goals to middle it because the sign that issues most.
The announcement builds on momentum Turtle has generated via 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, in keeping with firm supplies.
During 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 taking part.
The agency’s community scale was cited once more in May when it secured a $6.2 million seed spherical led by THEIA, with participation from Susquehanna International Group, ConsenSys, and Nomura’s Laser Digital.
The firm has additionally experimented with cross-domain leaderboards. In June, Turtle went stay on Kaito’s Yapper consideration leaderboard, which ranks members by engagement. The liquidity leaderboard extends this method to capital flows, aligning protocols and allocators by measuring verifiable commitments fairly than impressions.
Chief expertise officer Nick Thoma described it as combining liquidity and distribution with social incentives to provide protocols capital that is still.
Comparable coordination methods have lately drawn market curiosity. Incentive platforms corresponding to Royco have reached practically $3 billion in whole worth locked via 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 can even 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 means for liquidity suppliers to realize visibility and for protocols to attain extra environment friendly distribution of capital.
The framework is scheduled to increase within the coming months.
Turtle mentioned the leaderboard will evolve right into a white-label element that protocols can embed straight into their campaigns, combining time-weighted deposits, referral flows, and verified consumer indicators right into a single measure of market dedication.
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