Total Value Locked v2.0

TVL data for Radix DLT

Total Value Locked (TVL) is an aggregate of all the funds locked in a DeFi Smart Contract, often as collateral for a financial product or service offered by the smart contract.

It is often used to measure the size of the DeFi ecosystem, but it has been criticized as a misleading metric as it can count assets more than once and there is no clear definition across all ecosystems, meaning you often compare apples with pears.

Here we provide details on how our TVL for Radix is calculated.

What is included?

In the standard TVL figure shown on the Dashboard, we include:

• Smart Contracts: whitelisted Radix native tokens that are stored in a component (smart contract). This value can contain e.g. lending but also things like royalties and earned fees.

• Pools: whitelisted Radix native tokens that are stored in liquidity pools. This includes both native pools (pool_) as well as advanced pools (component_)

• LSU Pools: Liquid staking units (LSUs) put into special pools

However we also track the following data, that can be found on the TVL page:

• Staking: all XRD values staked to Radix Nodes that are not part of the LSU Pools

• Radlock: specifically locked tokens via Radlock (not active yet)

What is not included?

• Account balances: all tokens stored in accounts are generally not considered as locked, even if projects are handling them as locked for special purposes

• eXRD: eXRD is the wrapped representation of XRD on Ethereum and can therefore not be considered in the Radix TVL

• non whitelisted Radix tokens

Why do we limit the TVL to tokens on a whitelist?

Especially for new created tokens it is easy to manipulate the price and the TVL. We therefore make some checks before we add tokens to the whitelist to prevent that the Radix TVL suddenly jumps 10x without a real value behind. This ensures that the Radix TVL is a serious metric.

The whitelisted tokens are a combination of the whitelist from RadixAPI and the resources provided by registered projects.

Why does the value differ from DefiLlama?

DefiLlama, as the most popular platform showing TVL, requires a technical integration of each project with them. For Radix the number of projects that integrated is rather limited.

For the RadixCharts TVL the projects do not need to do anything to get their smart contracts considered for the TVL calculation as we take the data directly from the ledger.

Furthermore there is most probably a difference in the whitelist handling, especially by the Dexes, meaning which token prices and liquidity pools are included and send as TVL to DefiLlama.

Data sources

Where do we get the data from?

• Balances of locked tokens are taken directly from a PostgreSQL database connected to the Radix ledger

• Prices are taken from RadixAPI

• Project data: the packages and components we use for the Project TVL are provided by the respective project itself

Update period

The calculation job for TVL is running every 15 minutes, but the data shown on the website is aggregated to an hourly value, taking the average value within that hour.