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In recent years, Total Value Locked (TVL) has emerged as a go-to metric for gauging the success of DeFi platforms. However, many argue that TVL is flawed. It doesn't account for market volatility, rewards, or sustainability. Instead, it merely measures the money parked on a platform. This creates a false sense of security, potentially masking underlying risks. A more comprehensive metric is needed to truly evaluate the health of a DeFi ecosystem.
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