Kilitli Toplam Değer (TVL)
Bir DeFi protokolünün akıllı sözleşmelerinde kilitli olan tüm kripto varlıkların toplam dolar değeri.
TVL is often considered the 'AUM' (Assets Under Management) equivalent for DeFi. It is calculated by summing the market value of all tokens locked in a protocol's contracts. A high TVL generally indicates a deep [liquidity pool](/tr/terms/liquidity-pool), which reduces slippage for traders and increases the protocol's stability. However, TVL is a 'noisy' metric; it fluctuates based on both the quantity of tokens (inflows/outflows) and the market price of those tokens. To truly judge a protocol's growth, analysts often look at TVL in 'native' units (e.g., total ETH locked) or 'USD Inflows' to isolate market volatility from actual capital commitment.
graph LR
Center["Kilitli Toplam Değer (TVL)"]:::main
Pre_defi["defi"]:::pre --> Center
click Pre_defi "/terms/defi"
Pre_smart_contract["smart-contract"]:::pre --> Center
click Pre_smart_contract "/terms/smart-contract"
Pre_liquidity_pool["liquidity-pool"]:::pre --> Center
click Pre_liquidity_pool "/terms/liquidity-pool"
Rel_market_cap["market-cap"]:::related -.-> Center
click Rel_market_cap "/terms/market-cap"
Rel_stablecoin["stablecoin"]:::related -.-> Center
click Rel_stablecoin "/terms/stablecoin"
Rel_yield_farming["yield-farming"]:::related -.-> Center
click Rel_yield_farming "/terms/yield-farming"
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🧒 5 yaşındaki gibi açıkla
Bir bankanın kasasında duran toplam paranın miktarını ölçmek gibidir. Kasadaki para ne kadar çoksa, banka o kadar büyük ve güvenilir kabul edilir.
🤓 Expert Deep Dive
MCap/TVL oranı, bir protokolün tokeninin piyasadaki değerini kilitli varlık miktarıyla kıyaslayarak 'ucuz' veya 'pahalı' olduğunu anlamaya yarar.