It is proposed to increase TVL on the ICP chain from $220,000 to $100 million

Developers
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The thing is, I’ve discussed ICP in social media, there are a few times by ICP is worthless, their reason is because of a third party on the chain of statistics web site: https://defillama.com/protocol/sonic?denomination=ICP

Just yesterday, I saw a big Chinese V on youtube also put forward this point of view, openly discussing ICP, claiming that the assets on the chain of ICP are not as much as the property of one of the viewers, it is very shabby, it is a public chain with no ecological value, and ICP has no value.

I was unable to refute that TVL on the chain was indeed low! But I have a great idea

We all know that our ICP coins are worth about $4 each, and our blockchain has locked more than $1 billion, but the defillama team gives the value of the ICP chain is only 200K, which makes many Chinese friends who do not know ICP mistakenly believe that the value of ICP is only 200K, if so, I’m sure that no matter how hard ICP works on the project or how much money they spend on marketing it will make no difference!

----------------------------------------------------------------------------------Update again

It seems that I learned that the defillama algorithm makes sense, as part of the pos pledge most public chains do not compute! ICP is no exception!

But I still came up with some ideas:

Neuronal fund is generated by community interest, this part of the fund has not been pledged again, theoretically in addition to the need for investment is idle funds, but this part of the fund is very considerable, can we let @sonic or the main defi facility official @dfinity team, for this part of the fund to do risk-free activities defi financing, such benefits have two:

  1. Can obtain flexible financial benefits
  2. TVL data on the defillama chain can be changed from 220,000 to 100 million dollars, and perhaps more in the future

It is hoped that it can get the attention of the community, make the use of funds more reasonable and safe, and maintain the reputation of ICP

This is the link: https://defillama.com/chain/ICP?tvl=true

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DefiLlama is TVL aggregator for DeFi and the stat is for SONIC only.

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I know ICP pledged over $1 billion, not $200,000, and I think it’s either NNS+SONIC or none at all! This has been the main third-party tool for people to attack ICPs

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Use this

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You and I know about this tool, but people outside the ICP community don’t, they will only use defillama, and you also know the influence of defillama, I think it’s important to cite nns data, or sonic statistics plus the number of ICPs pledged by nns

otal Value Locked (TVL) is a metric used to measure the total value of digital assets that are locked or staked in a particular decentralized finance (DeFi) platform or distributed application (DApp)

This is the explanation given by google TVL, the locking of decentralized Dapps is also included, so NNS locked data should be included!

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I think I get it now you want on chain NNS staking locked value to be shown on DefiLama. Well that is not gonna happen they are two different things.

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Why? GMX is also pledged its own token GMX is also displayed in defillama

And Google’s TVL explanation is:
What does TVL mean crypto?
Total Value Locked
Total Value Locked (TVL) is a metric used to measure the total value of digital assets that are locked or staked in a particular decentralized finance (DeFi) platform or distributed application (DApp).7 Apr 2023

Obviously, the locking data of the decentralized application DAPP is also included, so why can’t our NNS be calculated?

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Relevant previous discussion of defillama:
https://forum.dfinity.org/t/regarding-the-tvl-on-nns-not-being-displayed-on-cmc/18458/2

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Hi icper

I very much share your frustration.

We have discussed this issue with defillama several times, explaining that the NNS is a DAO on the application layer with a TVL. Unfortunately they insist on putting it in the same category as protocol staking (such as PoS) which they do not include in their TVL figures.

Here is another recent forum post on the issue.

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It’s disheartening to see how ICP gets represented, or rather misrepresented, on third-party tracking sites that many use for comparing different blockchain chains.

Even when folks stumble upon ICP, they often walk away with a negative impression. Launch timing in May 2021 was a hard hit, landing right when BTC took a big dive. Throw in the shady market moves by the likes of FTX/SFB, and charts look a lot like a pump-and-dump scenario. People even comparing it the SQUID token (rug pull), all thanks to these charts.

But those of us in the know understand that Internet Computer (IC) is the real deal – a true next-gen tech in the crypto blockchain world. Trying to get this message across, though, feels like trying to push water uphill, especially when the charts are against us and we’re practically invisible on the major tracking platforms.

Please check also : https://realtps.net

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It seems defillama has a point, I see ada,algo,near and the like don’t have POS governance as TVL either!

But I still found a way. We have about $100 million in community funds that invest in SNS ecological projects and are not used as collateral for agreements. Maybe the dfinity Foundation could suggest that community funds be used to increase TVL for ICP in line with TVL regulations.Of course, the precondition is not to hinder the community fund investment income! I wonder if there’s room to maneuver in here?

Neuron fund is generated by interest, so this part of the fund should not be pledged again, and in theory it is idle. Is it possible to propose to inject this part of the fund into the flexible risk-free defi? This operation will bring two advantages: 1. 2. The on-chain TVL has changed from $220,000 to $100 million for dfinity Foundation. Can you do this?

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Build some kind of liquid staking, and they will probably represent it.

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Yes, just by making a few simple on-chain pledges with this Neuron fund, TVL will go from $220,000 to $100 million, with more to come!

Now it just takes influential people to do these things, vote on them

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So how can we get liquid staking on ICP?