# TVL vs TVS - L2Beat

- Channel: [Stable Summit](https://streameth.org/stable_summit)
- Date: 2025-10-07
- Duration: 07:36
- Watch: https://streameth.org/watch/yt-vFyNUovfESQ
- YouTube: https://www.youtube.com/watch?v=vFyNUovfESQ

## Description

"If your L2 shuts down, can you get your money out? That’s the question." -  Hubert Kotlinski, Head of Go-To-Market  L2BEAT

TVL can be gamed. TVS can’t. In this sharp talk, L2Beat’s Hubert breaks down why “total value locked” often gives a false sense of security—and why “total value secured” is a better metric. From bridge risk to L2 shutdowns, he shows how TVS captures trust assumptions that really matter. With real-world examples like DYDX and Reel, this is a wake-up call for anyone tracking onchain value.

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00:00 Why TVL Creates Confusion
00:32 L2Beat’s Broader Scope
01:07 Wallets, Leverage, and Misleading Numbers
01:43 TVS vs TVL Example Scenarios
02:19 Asset Types and Their Assumptions
02:50 Canonical vs Native vs External
03:58 Real-World Risk Examples
05:10 DYDX Safe Exit
06:19 Reel and Stuck Funds
06:52 Why Trust Assumptions Matter
07:29 Closing Advice and Resources

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