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Buterin TVL is a necessary evil DefiLlama TVL reflects trust
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Date：2024-04-22 18:24:36 Channel：Exchange Read：
In the DeFi world, TVL (Total Value Locked) is like a bright mirror, reflecting the trust of the platform and the risk tolerance of users. Vitalik Buterin pointed out that TVL is an indispensable evil in the DeFi ecosystem, while DefiLlama believes that TVL carries more meaning and is a manifestation of trust and risk. Let’s delve into the secrets behind TVL and lift the veil on trust in the DeFi world.TVL: The golden rule of the DeFi worldIn the field of DeFi (decentralized finance), TVL is a crucial metric, which represents the total value locked by users in various protocols. With the booming development of the DeFi industry, TVL has become one of the important indicators to measure the stability and attractiveness of the platform. For example, platforms like Ethereum, due to their huge TVL, have become the platform of choice for many DeFi applications, attracting a large number of users and projects.The Truth About TVL: A Symbol of TrustDefiLlama believes that TVL is not just a number, but also a reflection of trust in the platform. When users lock their assets in a protocol, they are actually expressing their trust and recognition of the protocol. Just like depositing money into a bank, users locking assets into the DeFi protocol is a sign of trust in the stability and reliability of the protocol. Therefore, TVL is actually a symbol of trust in the DeFi world and a reflection of the trust relationship between users and the platform.Risk tolerance: a required course in DeFiHowever, with trust comes risk. In the DeFi world, risks are everywhere, and users need to have sufficient risk tolerance to survive in this high-risk, high-return world. As DefiLlama said, TVL also reflects the user’s risk tolerance. A high TVL may represent users' higher tolerance for risk, and they are willing to lock assets in high-risk protocols to pursue higher returns.TVL’s Game of Growth and RiskWith the rapid growth of the DeFi industry, various new protocols are emerging, and TVL is also rising. However, an increase in TVL is not always a good thing and may also mask an increase in risk. When the TVL of a protocol increases rapidly, it is likely to cause some potential risks, such as smart contract vulnerabilities, liquidity risks, etc. Therefore, while users are pursuing high TVL, they must always be alert to risks and remain cautious.The future of TVL: The balance of trust and riskIn future development, TVL will still play an important role. It is not only an important indicator of the DeFi ecology, but also the balance point of trust and risk between users and platforms. As the industry continues to develop and improve, we believe TVL will better reflect trust and risk in the DeFi world, leading the entire industry in a safer and more robust direction.ConclusionTo sum up, TVL plays a vital role in the DeFi world. It is not only a number, but also a reflection of trust and risk. In the DeFi world, in addition to pursuing high returns, users must also have sufficient risk tolerance and maintain trust in the platform. Only by striking a balance between trust and risk can you remain invincible in this exciting world of DeFi. Let us look forward to the future of the DeFi world together, explore more mysteries about TVL, and feel the beauty of the intertwining of trust and risk.The four most famous international exchanges:
Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL
Note: The above exchange logo is the official website registration link, and the text is the APP download link.
Coin Circle (120bTC.coM): Regarding Vitalik’s comments, the founder of DefiLlama believes that TVL is a good rating indicator.
Vitalik Buterin (V God): TVL is a necessary evil
Vitalik posted an article on Warpcast stating: Although TVL is not the ultimate goal, it is a necessary evil. Locking funds in a (especially immature) protocol instead of a safe and simple wallet poses security risks to some extent. Sometimes in order to obtain precious benefits, we have to take such risks, but the behavior of locking just for the sake of locking should be minimized.
The crypto community also agrees that many projects are marketed as TVL, implying that their protocols are compliant and they can invest funds with confidence. However, the previous DeFi bull market has shown that following the trend of TVL may not be the best way to avoid risks.
DefiLlama founder: TVL reflects trust and risk tolerance
In response to this issue, in addition to major protocols, the first to bear the brunt seems to include DefiLlama, the benchmark platform for TVL data.
DefiLlama founder 0xngmi said on Twitter on the same day: The reason why TVL is a good rating indicator is because the investment of funds represents an indicator of trust; if the agreement Rug
Pulling and being hacked will result in losses and also reflect the risks that market participants are willing to take. Moreover, manipulating TVL requires a large amount of funds and is difficult to achieve. Basically, TVL summarizes the market’s views on the agreement.
The crypto community refuted 0xngmi, pointing out that when Solana was exposed, part of the TVL was double-calculated multiple times, resulting in significant inflation.
0xngmi explained that Lido’s stETH will not be included in the TVL due to repeated calculations with curve’s stETH-ETH pool, so the above situation will not occur.
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