What it means
Total value locked: how much money is deposited in a protocol or pool right now.
A high TVL shows that many people trust a protocol with their money, though it's no guarantee of safety.
How it works
Defied's Markets page shows the total deposits of each pool it uses, from DefiLlama and Morpho.
Related terms
| Term | What it means |
|---|---|
| Lending market | An onchain pool where people supply money that others borrow, with the interest paid by borrowers going to those who supplied it. |
| DeFi | Decentralised finance: lending, borrowing and exchanging that runs on public smart contracts instead of through a bank. |
| Liquidity | How easily a token can be exchanged or withdrawn without moving its price. |
This glossary explains terms in general. It isn't investment, tax or legal advice.