He aha te TVL i te Crypto?
Ko te Total Value Locked (TVL) tētahi o ngā inenga e tino mātakitakihia ana i roto i te DeFi. Akohia te tikanga o te TVL, me pēhea te tātai, me pēhea te whakamahi ki te aromatawai i ngā kawa me ngā mekameka.
He aha te TVL?
Total Value Locked (TVL) is the aggregate dollar value of all crypto assets deposited into a DeFi protocol's smart contracts. When a user deposits ETH into a lending pool, stakes tokens in a validator, or provides liquidity to a decentralized exchange, those assets are "locked" in the protocol and counted toward its TVL.
Whakaarohia TVL hei te ōrite o DeFi mō "ngā rawa i raro i te whakahaere" i te pūtea tuku. Pērā anō i te AUM e kōrero ana ki a koe i te nui o te moni e whakahaere ana e tētahi pēke, he aha rānei, e kōrero ana te TVL ki a koe i te nui o te pūtea i whakawhirinaki ngā kaiwhakamahi ki tētahi tikanga DeFi. Ka nui ake te TVL, ka nui ake te pūtea e whakahaere ana te tikanga i te wā tonu.
As of September 30, 2026, the per-chain TVL figures published by DefiLlama added up to about $95 billion across more than 400 chains, spread over thousands of protocols handling lending, borrowing, staking, trading, and yield generation. DefiLlama, a free live aggregator, tracks this in real time. TVL is usually the first metric investors check when evaluating a new DeFi project.
Ngā Taonga Kua Whakaputaina
Ka tatau te TVL i ia tohu kua tukuna ki tētahi tikanga: ETH kua whakapae, USDC kua nama, tohu LP, taonga whakarite, me ētahi atu.
I te Moni US
Ka whakaaturia te TVL i ngā tāra US, nō reira ka rerekē te utu i ngā utu tohu ahakoa kāore he tāke, he tango moni e pā ana.
Tauira matua o te DeFi
Ko te TVL te pae tawhiti i whakamahia whānuitia rawa atu hei whakataurite i ngā tikanga DeFi, hei ine i te whakaae, me te aromatawai i te hauora o te mākete.
Me pēhea te tatauranga o te TVL
At its core, TVL calculation is straightforward: add up the USD value of every token held in a protocol's smart contracts. In practice, the details matter. Different methodologies can produce significantly different numbers.
Tapeke Katoa o ngā Taonga Kua Tāuta
Ka ui ngā kaiwhakarato raraunga i ngā kirimana atamai o tētahi tikanga i runga i te aho kia kitea te tōtanga o ia token. Mō tētahi tikanga kārihi pērā i te Aave, ka whakauru tēnei i ngā taura tuku katoa (ETH, WBTC, USDC, me ērā atu) me ngā rawa kei ngā pūnaha tāpui. Mō tētahi DEX pērā i te Uniswap, ka whakauru tēnei i ngā token katoa e noho ana i pūnaha waiwai.
Ka tāpiri te paerewa tohu ia ki tōna utu mākete o nāianei kia whiwhi i te uara USD. Ko te tapeke puta noa i ngā kirimana katoa e ōrite ana ki te protocol's TVL.
Utu USD me Ngā Pūrere Utu
Mai te mea kua kīia te TVL i te USD, ka tiki ngā utu tohu i ngā orākara, ngā API whakawhiti, me ngā pūrere utu kua whakakotahi. Ko tēnei tikanga, ka huri te TVL o te protocol's ia hēkona i te wā e rerekē ana ngā utu tohu, ahakoa kāore he mahi a te kaiwhakamahi. Mēnā ka piki te ETH 10% i te pō, ka kite ia protocol e pupuri ana i te ETH i te pikinga o tōna TVL i runga i te ōrite.
Ka whakaatu hoki ētahi papatono tātaitanga i te TVL i te ETH, i te BTC hei tango i ngā pānga utu, me te whakaatu i ngā huringa tāpiritanga/tangohanga mā.
Te Raru Tatau Rua
Ko te tatau rua te wero rautaki nui rawa atu i te ine TVL. Ka puta tēnei ina ka tatau te kotahi tāra moni o te uara i roto i ngā tikanga maha. Hei tauira: ka tāpui tētahi kaiwhakamahi i te ETH ki Lido, ka whiwhi i te stETH. Ka tatau a Lido i te ETH hei TVL. Ka tāpui te kaiwhakamahi i te stETH ki Aave hei taura pūtea. Ka tatau a Aave i tēnei hei TVL hoki. Kua tau te ETH kotahi i ngā taupū TVL e rua.
Ka whakatika a DefiLlama i tēnei mā te tuku i a koe ki te whakauru, ki te whakakore rānei i ngā rawa kua tatauhia rua (me ngā rawa kua tarewa, kua tāpaea rānei) i roto i āna papatohu. Ina whakatairitehia ngā kawa takitahi, he pai te inenga TVL paerewa. Ina whakahiato puta noa i DeFi, he nui ake te tikanga o te tau kua whakatikahia.
He aha te mea nui o te TVL
Ko te TVL ehara i te nama whakapae noa. He tohu whai tikanga ia i ngā āhuatanga maha o te hauora o te kaupapa me ngā āhuatanga o te mākete. Anei te take e aro nui ana ngā kaihautū, ngā kaiwhakatere, me ngā kaiwhakamahi ki ngā raraunga TVL.
Te Whakamana o te Kaupapa
Ko te pikinga o te TVL e tohu ana he nui ake ngā kaiwhakamahi e kōwhiri ana ki te tuku i ō rātou pūtea ki tētahi kaupapa. Koia te ine mārama rawa o te hāngai hua-mākete i te DeFi. He kaupapa e tipu ana i te $100M ki te $1B i te TVL e kukume ana i te pūtea tūturu, kāore i te kōrero whakapae noa.
Tohutohu Whakapono
Ko te TVL nui e tohu ana i te maha o ngā kaiwhakamahi, tae atu ki ngā tohorā me ngā whakahaere, e whakawhirinaki ana ki ngā kirimana atamai o te kaupapa me te pūtea nui. Ko ngā kaupapa whai TVL i ngā piriona kua whakamātauhia i te roanga o te wā. Ka taea e te TVL iti i runga i tētahi kaupapa tawhito te tohu i te ngaro o te whakawhirinaki.
Te hōhonutanga o te liki
Ko te nui ake o te TVL i roto i ngā kawa tuku moni ko te tikanga he nui ake te whakapaipai e wātea ana hei nama, ka pai ake ngā reiti. I runga i ngā DEX, ko te nui ake o te TVL i roto i ngā puna wai ko te tikanga he iti ake te paheke i ngā hokohoko. Ka pā tika te TVL ki te kounga o te ratonga ka taea e tētahi kawa te tuku.
Te wairua o te mākete
Ko te TVL DeFi whānui e mahi ana hei pūtauira mō te mākete crypto whānui. Ko te pikinga o te TVL puta noa i ngā tikanga e tohu ana i te āhua o te mārō me te tipu haere o te whai wāhi ki te DeFi. Ka taea e te heke o te TVL te tohu i te whanonga kāore i te mōrearea, me te neke ki ngā kōwhiringa ā-roto.
Whiwhi 7.50% APY i runga i te USDC
I a koe e ako ana i ngā inenga DeFi, whakamahia ō stablecoin. Ko te Coinstancy Dollar Savings e tuku ana i te 7.50% APY i runga i te USDC. Ka whakaemihia te huamoni ia hēkona, ā, ka whakahaumakona aunoatia. Kāore he wā maukati, ka taea te tango i ngā wā katoa.
Tīmata te whiwhi moni i te CoinstancyTVL mā te Tikanga: Ngā Tikanga DeFi Top 10
He maha ngā kawa e pupuri ana i te wāhanga nui o ngā moni katoa kua raka. E whakaatu ana te ripanga i ngā kawa 10 matua mā te TVL e ai ki a DefiLlama i te 30 o Mahuru 2026, hāunga ngā whakawhitinga pokapū, ngā mekameka me ngā piriti. Kua whakaawhiwhia ngā tatauranga, ā, ka huri ia rā.
| Tūnga | Tikanga | Kāwai | TVL (āwhata) |
|---|---|---|---|
| 1 | Lido | Whakapūmau Rere | $26.3B |
| 2 | Aave V3 | Utu | $18.0B |
| 3 | SSV Network | Staking Pool | $13.9B |
| 4 | Morpho Kahurangi | Utu | $11.1B |
| 5 | Binance staked ETH | Whakapūmau Rere | $9.9B |
| 6 | EigenCloud | Whakahoki | $7.0B |
| 7 | Sky Lending | CDP / Moni Pūmau | $5.9B |
| 8 | SparkLend | Utu | $5.6B |
| 9 | ether.fi Stake | Whakapūmau Rere | $5.2B |
| 10 | Ethena USDe | Basis Trading | $4.9B |
Source: DefiLlama protocol rankings, retrieved from its public API on September 30, 2026. Category labels follow DefiLlama. Figures are rounded and move daily, so check the live table on defillama.com before relying on them. Staking-related protocols (Lido, SSV Network, EigenCloud, ether.fi) sit near the top because of Ethereum's proof-of-stake economy. Lending protocols such as Aave, Morpho and SparkLend follow, reflecting demand for on-chain borrowing.
TVL mā te Aho
DeFi activity is spread across many blockchains, but the distribution is heavily concentrated. Ethereum remains the dominant chain by a wide margin, followed by competing Layer 1s and its own Layer 2 networks. The table shows DefiLlama's per-chain TVL on September 30, 2026; the share column is each chain's part of the $94.8 billion total across all 467 chains listed that day.
| Aho | TVL (āwhata) | Wāhanga DeFi | Well-known Protocols |
|---|---|---|---|
| Ethereum | $53.2B | 56% | Lido, Aave, Morpho, Sky |
| Solana | $6.5B | 7% | Jito, Marinade, Raydium, Jupiter |
| Pūtake | $6.3B | 7% | Aerodrome, Morpho, Aave |
| BSC | $5.8B | 6% | PancakeSwap, Venus |
| Tron | $5.6B | 6% | JustLend, USDT-based lending |
| Bitcoin | $4.4B | 5% | Babylon, Bitcoin staking and bridges |
| Arbitrum | $1.4B | 1.5% | Aave, GMX, Pendle |
Puna: Raraunga mekameka DefiLlama, Mahuru 30, 2026, kua whakaawhiwhia. Ko te arataki a Ethereum i ahu mai i tōna painga tuatahi, te hōhonu o te moni, me te whakawhirinaki o ngā kaipupuri nui. Kua tipu a Solana nā ngā whakawhitinga tere me ngā utu iti. Ko Base, he Apa 2 o Ethereum, kua kumea e ia ngā mahi tuku moni me te DEX i te utu iti ake i te wā e whakatau ana i runga i Ethereum. Ko te TVL o Tron e ārahina ana e te tuku moni tāra. Ko ngā kawa kua whakahuatia he tauira, ehara i te rārangi; tirohia ngā whārangi mekameka ora i runga i DefiLlama mō ngā kaiārahi o nāianei.
Me pēhea te pānui i ngā raraunga TVL
Ko ngā nama TVL mā, e kōrero ana i te wāhanga o te kōrero anake. Hei tiki i te mārama tūturu, me tiro ki te TVL i te horopaki: tōna huringa i te roanga o te wā, tōna hononga ki te rahi o te mākete, me te wāhi i puta ai ngā raraunga.
Ngā Huringa TVL
Ko te tūtohi TVL o tētahi tikanga's i ngā rā 30, 90, me te 365 e whakaatu ana mēnā kei te haere te pūtea ki roto, ki waho. E tohu ana ngā ara piki mau tonu i te tipu ā-ao. Ka puta ngā pikinga ohorere ka whai i ngā heke pakanga e tohu ana i ngā hōtaka whakatenatena (ngā huringa mahi-rahi me te tuku). Rapua ngā tikanga e mau tonu ana te tipu TVL ahakoa kua mutu ngā whakatenatena tohu.
TVL ki te Kapu Mākete
Ko te ōwehenga TVL-ki-te-uara-mākete (ko tētahi putanga pāhono e whakamahi ana i te uara kua tino whakarewa, FDV, hei whakakapi i te uara mākete) ka āwhina ki te aromatawai mēnā he utu nui, he iti rānei te tohu o tētahi kawa ki te whakamahinga tūturu. Ko te ōwehenga neke atu i te 1.0 te tikanga he nui ake te whakaputanga moni i te uara o te tohu, ā, tērā pea e tohu ana i te iti o te uara. Ko te ōwehenga tino iti iho i te 1.0 tērā pea e tohu ana kei runga te utu o te tohu i te whakaaro pohewa, kāore i te tūāpapa. He tirohanga noa tēnei, ehara i te tauira aromatawai.
Terehua Pikinga TVL
Ka tautoko te TVL tino nui i ngā kawa kua whakapumautia. Ki te kitea ngā kaupapa e puta mai ana, tirohia te reiti tipu o te TVL. Hei tauira, ko tētahi kawa e piki ana mai i te $50M ki te $500M i roto i te 6 marama (10x te tipu) tērā pea he hihiko ake i tētahi i tipu mai i te $10B ki te $11B (10% te tipu). Ko te tipu tere o te TVL i roto i tētahi kawa hou ka tohu pea i te tino hāngai o te hua ki te mākete, engari me manatoko kāore te tipu i te akiaki noa i te whakatenatena.
Where to Check: DefiLlama
Ko DefiLlama (defillama.com) te kaiwhai TVL e whakamahia nuitia ana. I te 30 o Hepetema 2026, i whakarārangihia e tana API neke atu i te 8,000 kawa puta noa i te neke atu i te 400 mekameka. Ka whakarato raraunga o mua, wehenga mekameka-ā-mekameka, me ngā whakawhiti hei whakakore i ngā rawa kua tarewa, kua tūtaki, kua tatau rua rānei. He puna tuwhera te kaupapa, ā, e kī ana i roto i ana tuhinga kāore ia e whakaae ki te utu mō ngā whakarārangitanga.
Hipanga te Uaua. Whiwhi 7.50% APY i runga i te USDC.
Analyzing TVL, APY, and protocol risk is hard work. With Coinstancy Dollar Savings, deposit USDC and earn 7.50% APY. Interest accrues every second and is automatically reinvested. No lock-up, withdraw anytime. Let us handle the DeFi complexity.
Open Your AccountNgā Whāiti o te TVL: He aha kāore te TVL e kōrero ki a koe
He tauira whaihua te TVL, engari he wāhi koretake nui tōna. Mā te whakawhirinaki ki te TVL anake ka pā ki ngā whakatau hē. Anei ngā whāiti matua me mātua mārama e te kaiwhakamahi DeFi katoa.
Tatau Rua
Ka rite ki te kōrero o mua, ka taea e te tāra kotahi te puta i roto i ngā tatauranga TVL o ngā kawa maha. Ko te Lido stETH i whakatakotoria ki Aave, kātahi ka tarewa kia hokona ētahi atu stETH ka whakatakoto anō, ka puta he tāhei o te tatau rua (toru rānei). Nā reira ka taea e ngā tatauranga TVL DeFi whānui te whakanui ake i te nui o te whakapaipai motuhake i roto i te pūnaha hapori, nā konā ka tukuna e DefiLlama he tirohanga e kore e whakauru i ngā rawa kua tatauria rua.
TVL whakakaha
Ka taea e ngā kaiwhakamahi te huri i ngā tāke me ngā nama hei whakapiki i tā rātou pānga. Tāke $1M i te ETH, nama $700K i te USDC, whakawhiti mō te ETH anō, tāke anō, nama anō. Ka whakaatu te kaupapa $1.7M+ i te TVL i te $1M anake o te pūtea taketake. He ngoikore tēnei TVL whakakaha nā te mea ka tere te whakakāhore i te wā e heke ana ngā utu, e hua ana i ngā whakakāhore rerekē me te heke o te TVL.
TVL whakaaetia (kāwai)
Ngā tikanga maha ka whakarewa i te TVL mā te tuku utu token nui ki ngā kaiwhakauru. Ko tēnei “kapetā rangatira” e whai ana i ngā hua pai rawa, ā, ka wehe i te wā ka heke ngā whakaaetanga. Ka taea e tētahi tikanga e whakaatu ana i te $2B TVL i te wā o te kaupapa whakarewa token te heke ki te $200M i te mutunga o ngā whakaputa. Me mātua tirotiro mēnā ka hāngai te tipu o te TVL ki ngā kaupapa whakaaetanga.
Kāore e whakaatu i te whaihua
Kāore te TVL tiketike e tohu he whai hua te kawa, he moni rānei kei te whiwhi ōna kaiwhakamahi. Ko tētahi kawa tuku moni whai $10B TVL engari he iti rawa te whānuitanga o te reiti huamoni, tērā pea he iti ake te moni whiwhi i tētahi kawa iti ake engari he nui ake te whakamahinga. Kāore hoki te TVL e kōrero mō te mōrearea o te kirimana atamai, te kounga o te rōpū, te oranga roa rānei. Me whakauru tonu te tātari TVL ki ngā raraunga utu me te moni whiwhi (kei te wātea i DefiLlama me Token Terminal) me te hītori arotake haumarutanga o te kawa.
Ngā Pātai Auau
He aha te tikanga o te TVL i te crypto?
He pai ake te TVL nui ake i ngā wā katoa?
Kei hea au e tirotiro i ngā raraunga TVL?
He aha te rerekētanga i waenga i te TVL me te kapua mākete?
Ka taea e TVL te heke ahakoa te pikinga o ngā utu crypto?
He aha i rangatira ai a Ethereum i te TVL o DeFi?
Haere tonu ki te ako
Tirohia atu ētahi atu aratohu mō ngā tikanga DeFi, rautaki hua, me ngā ariā matua o te crypto.
He aha te APY i roto i te Crypto?
Mārama ki te hua ā-tau i te ōrau, me te mahi a te whakakotahi, me te āhua o te whakataurite i ngā whai wāhitanga hua DeFi.
Pānui AratohuAratohu Morpho
Mā te Morpho Blue, whakapai ake i te kāri. Whakatauranga tangata ki te tangata, ngā whare paku, me te whakapai ake o ngā reiti.
Pānui AratohuBalancer Aratohu
Ako mō ngā pūreke taumaha, tokenomics o BAL, me ngā rautaki waiwai whakawhanaketanga i runga i Balancer.
Pānui AratohuWhakakotahitia tō mātauranga DeFi ki te mahi
Inā kua mārama koe ki te TVL me te āhua o te mahi a ngā kawa DeFi, whakamahia ō stablecoin. Whiwhi 7.50% APY i runga i te USDC me te Coinstancy Dollar Savings. Ka whakaemihia te huamoni ia hēkona, ā, ka whakahaumautia aunoatia. Kāore he here, ka taea te tango i ngā wā katoa.
Tīmata te whiwhi moni i te CoinstancyNgā puna me ngā pānuitanga atu anō
Ka whakawhirinaki ngā tatauranga me ngā kerēme o tēnei whārangi ki ngā tuhinga kei raro nei. Ka neke ngā tatauranga pā ki te wā (reiti, hua, utu, raraunga mākete): tirohia te uara ora i te puna i mua i te mahi.
- DefiLlama, papatohu TVL DeFidefillama.com
Live aggregator for protocol and chain TVL. The rankings on this page were retrieved from its public API on September 30, 2026.
- Tuhinga DefiLlamadocs.llama.fi
How TVL is computed, how double counting and borrowed assets are treated, and the listing policy.
- DefiLlama API documentationdefillama.com
The /protocols and /v2/chains endpoints behind the figures quoted in this guide.
- ethereum.org, Pūtea Whakawhitiwhiti (DeFi)ethereum.org
Background on DeFi primitives and why Ethereum hosts the largest share of them.
I arotakea whakamutunga: Mahuru 2026. Ka whakatuwheratia ngā hononga o waho ki tētahi tihopa hou; kāore a Coinstancy e whai kawenga mō ō rātou ihirangi.
Whiwhi 7.50% APY i runga i te USDC
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