DefiLlama founder responds to Aave TVL controversy: the impact of revolving loans has been removed, and the related doubts lack basis According to a report by Golden Finance, DefiLlama founder 0xngmi responded to the controversy surrounding Aave TVL on X platform by stating that the current market view that Aave TVL is overvalued due to looping is not true. When calculating TVL, lending assets will be excluded, so looping operations will not push up TVL. For example, if a user deposits $1 million in ETH and counts it as TVL, while another user deposits $1 million in stETH and lends out $1 million in assets, corresponding to "+1 million to $1 million", the final TVL will still be $1 million. DefiLlama has proactively removed duplicate calculations. Previously, it was discovered that Ethena had deposited collateral assets into Aave and had them recycled by users, which led to a virtual increase in TVL. Therefore, the relevant deposits have been removed from Aave TVL, and there is a lack of basis for community related doubts.