DefiLlama founder: Most of its loan processes are hardly found on-chain payment transactions due to pressure on Figure data

PANews reported on September 13 that the anonymous founder of the on-chain data analysis website DefiLlama posted on the X platform that Figure wants him not to conduct due diligence on the company and is trying to put pressure on public and private defamation. 0xngmi pointed out that the value of DefiLlama lies in the importance of users' trust in providing good data, providing high-quality data that meets user expectations and can help them make the right decisions. Figure claims to have a $12 billion RWA size on their chain, but DefiLlama found something strange when investigating: 1. Figure only contains $5 million worth of BTC and $4 million worth of ETH on the exchange (of which Bitcoin trading volume is only $2,000 in 24 hours); 2. Figure's own stablecoin YLDS supply is only 20 million, and in theory all its RWA transactions should be based on this; 3. Figure Most transactions that transfer RWA assets appear to be conducted by other accounts other than those holding the assets; 4. The vast majority of Figure's loan process is completed through fiat currency, and almost no on-chain payment is found. 0xngmi added that DefiLlama is not sure how Figure's $12 billion asset size is traded with so few assets available for trading on the chain, and since most holders don't seem to transfer these assets with their own keys, they are questioning whether they just mirror their internal databases onto the chain.