DefiLlama launches token price API aimed at pricing more indirectly traded tokens

Chain Catcher news, the on-chain data analysis website DefiLlama has launched a token price API, which is now live and fully open. This API aims to price as many tokens as possible, including exotic tokens that are not directly traded and cannot be priced through the market.

The API works in the following ways: 1. It obtains prices from CoinGecko as a baseline. 2. It looks for all bridged assets and prices them as the original asset. 3. It prices various LPs through the underlying. 4. For missing tokens, it uses DEX markets from Uniswap, Curve, and Serum to price them. It provides a confidence score based on the liquidity of each market, allowing API consumers to filter out prices with low confidence scores. (Source link)