We’ve all been seduced by the allure of high APYs. We go all in on crypto only to find out its collateralized and stranded in a DeFi protocol, leaving us feeling more like digital serfs than financial revolutionaries. This isn't the Web3 we were promised. The dream behind that ideal was a decentralized freedom, not a broken-up fiefdom. And I think the issue is what we are measuring.

TVL's Silos: Trapped in Digital Castles?

The reigning king of the hill, Total Value Locked (TVL), is a horrible metric. It’s a vanity number, creating the perverse incentive for projects to amass long-lasting assets more than an army of digital dragons. Think of it like this: TVL is the total value of all the books in various libraries. Impressive, right? Imagine if every library limited checkouts to their own patrons exclusively. Just picture the outrage if you’re told that you can never lend your books! That's the reality of Web3 today.

We cheer when an upstart chain exhibits a ludicrous Total Value Locked (TVL). How can we really reap those benefits if all that value is stuck and out of reach from the larger ecosystem? Sure, staking and yield farming might be attractive, but these features usually come with the sacrifice of liquidity and composability. It’s like throwing up walls around our digital treasures, creating economic fiefdoms rather than a dynamic, connected innovation ecosystem. Layer 2s and application specific chains are radical inventions. Ironically, they make the problem much worse by just creating even more confusing and fragmented pockets of value.

Do you recall the original promise of Cosmos and Polkadot? Interoperability, seamless cross-chain interaction. But while they’ve done exciting work, they haven’t yet delivered on the promise of true composability at scale. Instead, the bridges are often rotting, costly, and quite frankly dangerous. We need a better way.

TVU: Value That Flows Freely?

Enter Total Value Unlocked (TVU). This is not merely about a new metric. This is a paradigm shift. Measuring the value that’s available, verifiable and interoperable between blockchain ecosystems. The point is to start moving away from hoarding power and towards empowering others.

Imagine an ecosystem where your assets, tools, etc., are available across chains and not stuck in one. They can seamlessly interact and move between applications and protocols from all corners of the Web3 ecosystem. Think of it like this: TVU measures the ability to easily access and use those books in any library, regardless of where they are located. It’s about providing universal access to the best applications, data, and liquidity, no matter where they come from.

This isn't just about building more bridges. We’ll never get there without some sort of universal foundation for verifiability and interoperability. A provable, universal settlement layer — one built on mathematical proofs that allow for verification of data, transactions and smart contracts in various contexts. This "universal verification layer" is key.

Think about the implications for everyday users. Think a centralized yet still transparent interface to access all DeFi protocols across any chain without the headache of bridging or wrapping tokens. Or an open, decentralized social media platform where your identity and content are truly portable among competing networks. This is the power of TVU.

Stop Building Walls, Start Building Bridges!

The stakes of failing to adopt TVU are clear. Continued fragmentation will result in a confusing and fractured user experience, quickly stifling any chance of mainstream adoption. Just imagine what it would be like to use the internet if every website you wanted to visit needed a different browser – and a different account! That’s the trajectory we’re headed down if we keep advancing TVL at the expense of TVU.

TVU provides a radically different approach, an approach that focuses on composability, reach, and usability rather than siloed metrics. It penalizes those who don’t create systems that connect, but more critically, it directs planners and builders to construct connecting infrastructure. It's about incentivizing collaboration, not competition.

This isn’t merely a technical question of alleviating barriers, it’s about building a more inclusive and equitable Web3. By minimizing barriers of access and building community around creativity, TVU can equip people and communities, especially those entrenched in marginalized identities. Now, picture that same developer, but this time in a developing country. Now, they have access to (and can contribute to) protocols on each individual chain without geographical or technical bounds. That's the potential of TVU.

To realize the value of the future, we need to turn away from our fixation with encased value. Let’s work together for a future where value flows both ways – enriching users while igniting innovation. By zooming in on TVU, we can build a TVU as a public good settlement and verification infrastructure. That’s when we’ll see Web3’s true potential, powering a truly interconnected ecosystem. It’s time for Congress to put an end to building walls and instead start building bridges. It's time to prioritize access over accumulation. It's time to embrace TVU.

Let's unlock the future, together.