Where DeFi capital is moving by sector, with centralised-exchange custody excluded and single corrupt readings refused rather than allowed to steer a sector.
The total value locked in each DeFi category and how it changed over the last day, ranked so a reader can see which sectors capital is rotating into and out of.
It measures value sitting in protocols, not volume passing through them. A sector can gain TVL on price appreciation alone.
Exchange custody is not DeFi. The card once summed every category the source publishes, so centralised exchanges holding customer coins were about half of the reported total. That category is excluded now, and the payload publishes what was removed.
The total is the sum of per-protocol TVL, not the source's headline DeFi figure, which nets out double counting and is far smaller on the same snapshot. The payload carries a basis line saying which of the two it is, because a bare number invites the wrong comparison.
One corrupt reading cannot steer a sector. The source carried a single protocol at a change of several hundred million percent, and TVL-weighting printed a sector as flowing in at over three million percent. Per-protocol TVL itself is sound, so only the CHANGE is refused: the protocol keeps its TVL, leaves the average, and is named in the payload's implausible-changes list.
The average divides by the TVL whose change was usable, not by the sector's whole TVL — dividing by everything would scale the sector's move down by whatever share was refused.
TVL is denominated in dollars, so a sector holding volatile collateral moves with the price of that collateral, not only with deposits.
The caveats travel with the number. A guard the frontend cannot see is a guard nobody can audit, which is why the removals and the refused changes are passed to the screen rather than applied silently.
Category membership is the source's taxonomy, not ours. Where a protocol sits is their editorial decision, and it changes.
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