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Breaking vanity metrics
TVL means nothing if the capital is idle.
What matters is how much of it actually works on chain.
→ Productive TVL: only counts assets generating real fees, not static deposits.
→ Capital Efficiency: how much value each unit extracts before inflating dashboards.
The difference is clear:
Depositing ≠ Contributing.
Locking ≠ Using.
Protocols chasing dopamine metrics stagnate. Protocols tracking Productive TVL build sustainable economies.
Guess what?
-> @katana on @0xPolygon
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