[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Beyond Gaming (BG Chain) [@BGLabs_](/creator/twitter/BGLabs_) on x 31.2K followers Created: 2025-07-19 19:00:01 UTC 📊 “Is TVL Really Reliable? How to Judge Whether a DeFi Project Is 'Healthy'” — High TVL ≠ Real Demand. Don’t Be Fooled by Surface-Level Numbers In the DeFi world, TVL (Total Value Locked) is often used to measure a protocol’s “scale,” but high TVL ≠ protocol security, nor does it equal real value. 🧠 Why TVL shouldn’t be the only metric? Many projects attract capital with short-term high APRs, causing TVL to spike rapidly — but with little long-term user stickiness or real usage demand. Much of the capital comes from “liquidity farming” or “airdrop hunting,” which can leave at any time — with no structural loyalty to the protocol. 📍 More reliable evaluation metrics: 1️⃣ User Activity: Is it consistently growing? Are there real DAUs/MAUs? 2️⃣ Interaction Frequency: Is the protocol actually being used? Is there diverse on-chain interaction? 3️⃣ Asset Distribution: Is the capital highly concentrated in a few whale wallets? 4️⃣ Revenue Model: Is there a stable, sustainable fee-based income mechanism? From BE Chain’s perspective, a truly healthy on-chain system is not built by capital stacking numbers — but by structure-driven collaborative behavior. 📌 A verifiable mechanism design is far more important than a “pretty TVL figure.” #DeFiKnowledge #TVLMisconception #OnchainHealthCheck #RealUsageMatters #StructureFirst #Web3Education #BEChainStructuralModel XX engagements  **Related Topics** [protocol](/topic/protocol) [tvl](/topic/tvl) [gaming](/topic/gaming) [Post Link](https://x.com/BGLabs_/status/1946646222384582757)
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
Beyond Gaming (BG Chain) @BGLabs_ on x 31.2K followers
Created: 2025-07-19 19:00:01 UTC
📊 “Is TVL Really Reliable? How to Judge Whether a DeFi Project Is 'Healthy'” — High TVL ≠ Real Demand. Don’t Be Fooled by Surface-Level Numbers
In the DeFi world, TVL (Total Value Locked) is often used to measure a protocol’s “scale,” but high TVL ≠ protocol security, nor does it equal real value.
🧠 Why TVL shouldn’t be the only metric?
Many projects attract capital with short-term high APRs, causing TVL to spike rapidly — but with little long-term user stickiness or real usage demand.
Much of the capital comes from “liquidity farming” or “airdrop hunting,” which can leave at any time — with no structural loyalty to the protocol.
📍 More reliable evaluation metrics:
1️⃣ User Activity: Is it consistently growing? Are there real DAUs/MAUs? 2️⃣ Interaction Frequency: Is the protocol actually being used? Is there diverse on-chain interaction? 3️⃣ Asset Distribution: Is the capital highly concentrated in a few whale wallets? 4️⃣ Revenue Model: Is there a stable, sustainable fee-based income mechanism?
From BE Chain’s perspective, a truly healthy on-chain system is not built by capital stacking numbers — but by structure-driven collaborative behavior.
📌 A verifiable mechanism design is far more important than a “pretty TVL figure.”
#DeFiKnowledge #TVLMisconception #OnchainHealthCheck #RealUsageMatters #StructureFirst #Web3Education #BEChainStructuralModel
XX engagements
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