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DefiLlama Founder: Suspects Figure TVL Data is Inaccurate, Not Blacklisted Due to X Platform Fan Count
BlockBeats News, September 13, DefiLlama founder 0xngmi posted on social media that DefiLlama discovered a significant discrepancy between Figure's on-chain assets and trading volume: BTC and ETH reserves are minimal, their native stablecoin supply is limited, most loans are still processed in fiat, on-chain transactions are almost non-existent, suspecting that a large portion of its TVL may only be a mirror of an internal database, rather than real tradable assets.
As part of due diligence, DefiLlama has discussed Figure's TVL data (claimed to be $12 billion) in a Telegram group chat with the Figure team and raised various systemic and issuance-related questions. However, someone with knowledge of the entire process spread rumors on Twitter (formerly X) claiming that DefiLlama refused to list Figure due to X platform's follower count, and even implied that DefiLlama charged a listing fee, which is entirely false. In fact, DefiLlama has never rejected any projects based on follower count, nor has it charged any fees, still adhering to strict due diligence to ensure reliable and accurate data.
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