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DefiLlama Founder: Suspects Figure TVL Data is Inaccurate, Not Blacklisted Due to X Platform Fan Count

3 hours ago

September 13th. The founder of DefiLlama, 0xngmi, posted on social media that DefiLlama noticed a significant disparity between Figure's on-chain assets and trading volume. BTC and ETH reserves are very small, the supply of their native stablecoin is limited, most loans are still processed in fiat currency, and on-chain transactions are almost non-existent. It is suspected that a large part of its TVL may only be a mirror of an internal database instead of real tradable assets. As part of the due diligence process, DefiLlama has discussed Figure's TVL data (claimed to be $12 billion) in a Telegram group chat with the Figure team and raised various questions related to the system and issuance. However, someone with knowledge of the entire process spread rumors on Twitter (formerly X) claiming that DefiLlama refused to list Figure because of the number of followers on the X platform and even implied that DefiLlama charged a listing fee. This is completely false. In fact, DefiLlama has never rejected any projects based on the number of followers and has not charged any fees. It still adheres to strict due diligence to ensure reliable and accurate data.

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