国际清算银行：去中心化金融中总价值锁定（TVL）的可验证性（英文版）

Total value locked (TVL) is the main metric used to assess the economic significance of decentralised finance (DeFi) projects. It represents the total value of on-chain cryptoassets deposited in DeFi protocols. Despite its importance, TVL calculations are not standardised and in some instances rely on self-reported off-chain data, opening the door to manipulation. Inconsistent methodologies across different aggregators can lead to large discrepancies in the reported figures. This lack of tran