Turtle has introduced a new framework designed to measure and reward one of the scarcest assets in digital finance, onchain liquidity.
The company announced the launch of the Turtle Liquidity Leaderboard, which ranks participants by verified deposits, user distribution, and engagement multipliers, creating a standardized scoreboard for protocols and liquidity providers.
The launch comes at a time when market depth has weakened across digital assets. Kaiko reported that liquidity for the top 50 altcoins by market depth fell about 30% in the first quarter of 2025, reflecting both declining market-making incentives and concentration in fewer assets. With protocols competing for durable liquidity, Turtle’s system reframes how capital allocation is tracked and rewarded.
The leaderboard applies three categories to participants. A Liquidity Score measures time-weighted deposits into supported partners, a Distribution Score tracks liquidity brought by user referrals, and Boosts apply multipliers for verifiable identity and activity.
Unlike points programs or engagement leaderboards, which often rely on impressions or social metrics, the framework is based on capital that cannot be easily falsified.
Turtle’s chief executive, Essi, said in the release that liquidity has been overlooked in favor of vanity metrics and the company aims to center it as the signal that matters most.
The announcement builds on momentum Turtle has generated through earlier campaigns. Its distribution protocol has coordinated liquidity for ecosystem launches since 2024, mobilizing over $4 billion in deposits across more than 300,000 wallets, according to company materials.
During Arbitrum’s TAC “Summoning” event earlier this year, Turtle vaults attracted more than $100 million in the first week, $150 million by the second, and ultimately around $790 to $800 million in liquidity by the time of the mainnet launch, with Curve founder Michael Egorov among those participating.
The firm’s network scale was cited again in May when it secure
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Author: Liam ‘Akiba’ Wright
