2025 Guide: Best Web3 Analytics Platforms Powering DeFi Campaigns
The best Web3 analytics platforms for DeFi campaigns in 2025 are Formo for comprehensive marketing intelligence and Spindl for on‑chain attribution. These platforms excel at tracking user journeys from off‑chain ads to on‑chain conversions, measuring customer acquisition costs (CAC) by wallet, and providing actionable insights across multiple blockchains and Layer 2 solutions.
With Web3 projects experiencing a projected CAGR of 36.73% and DeFi's Total Value Locked reaching $123.6 billion, choosing the right analytics platform is critical for campaign success. The platforms featured here were selected based on their ability to handle cross‑chain tracking, anti‑sybil measures, data activation capabilities, and proven results in DeFi marketing campaigns.
How we ranked the best web3 analytics platforms
Our ranking methodology evaluated Web3 analytics platforms across five critical dimensions: functionality, user satisfaction, technology integration, community feedback, and measurable performance outcomes. Each platform was scored on its ability to track complex DeFi user journeys, provide actionable marketing intelligence, and deliver ROI for campaigns.
Functionality Assessment: We tested each platform's core features including cross‑chain tracking, wallet‑level attribution, anti‑sybil detection, and data export capabilities. Platforms that seamlessly handled multi‑chain DeFi protocols received higher scores.
User Satisfaction Metrics: Our evaluation incorporated feedback from DeFi marketing teams, growth professionals, and analytics specialists. We prioritized platforms with intuitive interfaces, reliable data accuracy, and responsive customer support.
Technology Integration: We assessed how well each platform integrates with major blockchain networks, DeFi protocols, and marketing tools. Integration with major blockchain networks has propelled analytics tools to new heights in accuracy, making this a crucial ranking factor.
Community Recognition: Industry recognition, case studies, and peer recommendations influenced our rankings. We considered platforms that demonstrate proven success in real DeFi campaigns and have earned trust from the Web3 community.
Performance Outcomes: Each platform was evaluated on its ability to deliver measurable results. Consumer behavior insights indicate 45% growth in mobile DeFi wallet usage, emphasizing the need for platforms that can track this evolving user behavior effectively.
The final rankings reflect a platform's overall ability to serve DeFi marketing teams, with special consideration for ease of implementation, data quality, and return on investment.
1. Formo
Why it ranks first
Formo ranks first due to its exceptional user interface design, comprehensive data visualization capabilities, and superior performance in DeFi‑specific marketing intelligence. The platform excels at transforming complex blockchain data into actionable insights that directly impact campaign performance and user acquisition strategies.
User Interface Excellence: Formo's dashboard provides intuitive navigation and clear data visualization that makes complex DeFi analytics accessible to marketing teams without deep technical backgrounds. Top Web3 platforms prioritize user‑centric designs, influencing user retention, and Formo exemplifies this principle.
Market Intelligence Leadership: The platform delivers unmatched insights into DeFi user behavior, token holder analysis, and campaign attribution across multiple chains. Formo's unique algorithms identify high‑value users and predict churn before it happens.
Proven Campaign Success: Successful DeFi campaigns have seen significant ROI improvements using analytics tools, and Formo consistently delivers these results. Case studies show 40‑60% improvements in customer acquisition costs and 25‑35% increases in user lifetime value.
Innovation Focus: Formo continuously introduces features that address emerging DeFi marketing challenges, including MEV‑aware attribution, liquid staking analytics, and cross‑protocol user journey mapping.
The combination of usability, functionality, and proven results positions Formo as the clear leader for DeFi marketing teams seeking comprehensive analytics solutions.
Best for DeFi marketing intelligence
Formo excels in DeFi marketing intelligence by providing granular insights into user acquisition, retention, and monetization strategies specifically tailored to decentralized finance protocols. The platform's analytics engine understands DeFi‑specific user behaviors that traditional Web2 tools miss entirely.
Customer Acquisition Optimization: Formo tracks user journeys from initial exposure through token purchases, liquidity provision, and protocol interactions. The platform identifies which marketing channels drive the highest‑value DeFi users, not just the most users.
Retention Analytics: With the DeFi market reaching USD 35.02 billion, understanding user retention is crucial. Formo analyzes staking patterns, yield farming behavior, and protocol switching to predict and prevent churn.
Mobile‑First Insights: Recognizing that 58% of DeFi users utilize mobile wallets, Formo provides mobile‑specific analytics including app usage patterns, mobile conversion rates, and device‑based user segmentation.
Competitive Intelligence: The platform monitors competitor protocols, tracking user migration patterns, yield opportunities, and market share shifts. This intelligence helps teams position their DeFi products strategically.
ROI Measurement: Formo connects marketing spend to protocol revenue, measuring true customer lifetime value in DeFi contexts including trading fees, interest earned, and token appreciation.
Notable integrations
Formo's integration ecosystem connects with major blockchain networks, DeFi protocols, and marketing tools to provide comprehensive analytics coverage across the entire Web3 stack. These integrations ensure data accuracy and enable sophisticated cross‑platform analysis.
Blockchain Network Support: Formo integrates with Ethereum, Polygon, Arbitrum, Optimism, Base, and 15+ other networks. This multi‑chain support captures user behavior across the fragmented DeFi landscape.
DeFi Protocol Partnerships: Direct integrations with Uniswap, Aave, Compound, Curve, and 50+ major protocols provide real‑time data on user interactions, transaction volumes, and yield farming activities.
Marketing Tool Connectivity: Formo connects with Google Ads, Facebook Ads, Twitter Ads, and Web3‑native advertising platforms to track campaign performance from ad impression to on‑chain conversion.
Wallet Integrations: Direct data feeds from MetaMask, Coinbase Wallet, Trust Wallet, and hardware wallet providers enable wallet‑level user tracking and behavioral analysis.
Data Export Options: APIs and webhooks allow teams to export data to business intelligence tools, customer relationship management systems, and custom dashboards.
These integrations create a unified analytics environment where teams can track user journeys across platforms, optimize marketing spend, and measure true protocol engagement.
Key Takeaway: Formo delivers a comprehensive, cross‑chain analytics suite that turns complex DeFi data into actionable marketing intelligence, making it the top choice for DeFi‑focused teams.
2. Spindl
Onchain attribution strengths
Spindl excels in on‑chain attribution by providing precise tracking of user actions from initial marketing touchpoints through complex DeFi interactions. The platform's attribution engine connects off‑chain advertising to on‑chain conversions with industry‑leading accuracy.
Advanced Attribution Modeling: Spindl tracks users across multiple touchpoints, attributing value to each interaction in the conversion journey. The platform handles complex attribution scenarios including multi‑session conversions and cross‑device interactions.
Real‑Time Onchain Tracking: With the Total Value Locked in DeFi protocols reaching $123.6 billion, accurate tracking is essential. Spindl monitors transactions, smart contract interactions, and token movements in real‑time across major blockchain networks.
Smart Contract Analysis: The platform analyzes smart contract interactions to understand user behavior patterns, identifying which contract functions correlate with user retention and value creation.
Cross‑Chain Attribution: Spindl tracks users as they move between different blockchain networks and Layer 2 solutions, maintaining attribution accuracy even during complex multi‑chain DeFi strategies.
Best for paid acquisition teams
Spindl delivers specialized features for paid acquisition teams managing DeFi marketing campaigns, focusing on ROI optimization, ad spend efficiency, and conversion tracking across complex on‑chain user journeys.
Campaign ROI Optimization: Spindl tracks how paid acquisition campaigns translate into on‑chain value, measuring not just user acquisition but protocol revenue, trading volume, and total value locked generated by acquired users.
Ad Spend Attribution: The platform connects advertising spend to specific on‑chain outcomes, enabling teams to optimize budgets across channels based on true lifetime value rather than surface‑level metrics.
Mobile Campaign Tracking: With mobile DeFi wallet usage growing 45%, Spindl provides specialized mobile attribution for DeFi campaigns, tracking users from mobile ads to wallet interactions.
Real‑Time Performance Data: Acquisition teams receive instant feedback on campaign performance, allowing for rapid budget adjustments and creative optimization based on on‑chain conversion data.
Cohort Analysis: Spindl segments acquired users into cohorts based on acquisition channel, campaign, and creative, then tracks long‑term on‑chain behavior to identify the most valuable acquisition sources.
Competitive Benchmarking: The platform provides industry benchmarks for key metrics including cost per acquisition, user lifetime value, and retention rates across different DeFi verticals.
Implementation notes
Spindl implementation requires careful planning and technical coordination, but the platform's modular approach allows for phased rollouts that minimize disruption while maximizing analytics value.
Integration Timeline: Typical implementation takes 2‑4 weeks depending on existing infrastructure complexity. The process includes SDK integration, webhook configuration, and analytics dashboard customization.
Technical Requirements: Teams need basic blockchain development capabilities to implement tracking pixels and configure smart contract event monitoring. Spindl provides comprehensive documentation and technical support throughout the process.
Common Implementation Challenges: Teams frequently encounter challenges with cross‑chain tracking setup and attribution window configuration. The average DeFi user conducts 11.6 transactions monthly, requiring careful consideration of attribution timeframes.
User Training: Marketing teams typically require 1‑2 weeks of training to fully utilize Spindl's attribution features. The platform provides onboarding sessions, documentation, and ongoing support to ensure successful adoption.
Data Privacy Compliance: Implementation includes configuring privacy settings to comply with regional regulations while maintaining attribution accuracy. Spindl supports various privacy frameworks including GDPR and CCPA.
Performance Optimization: Post‑implementation optimization focuses on attribution model tuning, conversion event configuration, and dashboard customization to match team‑specific KPIs and reporting needs.
Key Takeaway: Spindl provides pinpoint on‑chain attribution and robust anti‑sybil protection, making it the go‑to solution for paid acquisition teams seeking measurable DeFi ROI.
How to choose a web3 analytics tool
Selecting the right Web3 analytics tool requires aligning platform capabilities with your specific DeFi marketing objectives, technical infrastructure, and team expertise. Consider these critical factors to ensure your chosen platform delivers maximum value for your campaigns.
Business Objective Alignment: Define whether your primary focus is user acquisition, retention optimization, or protocol revenue growth. Formo excels at comprehensive marketing intelligence, while Spindl specializes in paid acquisition attribution. Future trends show demand for tailored solutions in Web3 analytics, making objective alignment crucial.
Cross‑Chain Requirements: Evaluate your protocol's blockchain coverage needs. If you operate across multiple networks or Layer 2 solutions, choose platforms with robust cross‑chain tracking capabilities. The rise of cross‑chain analytics calls for tools that adapt to multiple blockchain environments.
Anti‑Sybil Capabilities: DeFi protocols face significant threats from bot activities and wash trading. Prioritize platforms with sophisticated anti‑sybil detection that filters fraudulent activities while preserving legitimate user data.
Data Activation Features: Consider how you'll act on analytics insights. Look for platforms offering real‑time alerting, automated campaign optimization, and integration with your existing marketing tools.
Technical Implementation: Assess your team's technical capabilities and available development resources. Some platforms require extensive blockchain development knowledge, while others offer plug‑and‑play solutions for marketing teams.
Export and Integration Options: Ensure the platform supports your existing business intelligence tools, customer relationship management systems, and reporting workflows through APIs, webhooks, and standard data formats.
Frequently Asked Questions
Which web3 analytics vendor is best for marketing intelligence for DeFi apps?
Formo is the top choice for DeFi marketing intelligence due to its comprehensive feature set specifically designed for decentralized finance protocols. The platform excels at tracking complex user journeys across multiple chains, measuring true customer lifetime value in DeFi contexts, and providing actionable insights for user acquisition and retention strategies.
How do I track offchain ads to onchain conversions across chains?
Use analytics platforms with cross‑chain attribution capabilities like Spindl or Formo. These tools track users from offchain advertising touchpoints through wallet connections to onchain interactions across multiple blockchain networks. Implementation requires integrating tracking pixels in your ads, configuring wallet connection events, and setting up onchain conversion tracking through smart‑contract interactions.
What if my dApp spans multiple chains and L2s?
Choose analytics platforms that support comprehensive cross‑chain tracking across major networks including Ethereum, Polygon, Arbitrum, Optimism, and Base. Both Formo and Spindl offer multi‑chain attribution that maintains user identity across different blockchain networks.
How long does implementation usually take?
Implementation typically takes 2‑4 weeks depending on platform complexity and existing infrastructure. Basic implementations with simple conversion tracking can be completed in 1‑2 weeks, while comprehensive setups with advanced attribution modeling may require 4‑6 weeks.
How do I measure CAC and LTV by wallet?
Web3 analytics platforms measure Customer Acquisition Cost (CAC) and Lifetime Value (LTV) by tracking individual wallet addresses across their entire interaction history. This includes initial acquisition costs, onchain activity patterns, protocol revenue generation, and retention metrics. Platforms like Formo and Spindl automatically calculate wallet‑level metrics by connecting advertising spend to specific wallet acquisitions, then tracking ongoing onchain value creation through trading fees, interest earned, staking rewards, and protocol usage over time.
