Zora

In celebration of the one-year anniversary of the Zora protocol and the initial release of zorb, we invite you to mint a commemorative NFT for your collection. Minting is open for 20+22 hours on New Years Day and cements your status as an early supporter of Zora.


[zorb.dev](https://zorb.dev/) by [zora.co](https://zora.co).

ZORBS by ZORA

the day people realise that when you swap
token x → token z
the actual path is often x→ y → z and both legs of that swap inflate TVL is the day they’ll see how few real users crypto actually has.

- gas fees doesn’t contribute to TVL but affects net value transferred, which means the actual user spend is even higher than what TVL or volume metrics show in some cases

- TVL ≠ Swap Volume:
TVL generally refers to liquidity locked, not volume transacted. BUT many metrics on dashboards/ DeFi ranking sites blend TVL and swap activity to signal (fake) “usage”

example:

swap x → y = amount A

swap y → z = amount B

TVL = A + B (nearly double the actual swap value, since gas is dicounted)

most “activity” is just internal routing