DefiLlama Founder: Figure TVL's data authenticity is questionable, but it was not rejected by X platform's fans

According to ChainCatcher, DefiLlama founder 0xngmi posted on social platforms that DefiLlama found that Figure's on-chain assets are seriously inconsistent with transaction volume: BTC and ETH reserves are very small, their own stablecoins supply is limited, most loans are still processed in fiat currencies, and on-chain transactions are almost non-existent, and most of its TVL may be just mirrors of internal databases, rather than real tradable assets. As part of the due diligence, DefiLlama has discussed their TVL data (claimed $12 billion) with the Figure team in a Telegram group chat and has raised several system and distribution-related issues. However, a person who knows the whole process spreads rumors on X (formerly Twitter) that DefiLlama refused to be on the list because of the number of followers on X platform, and some even suggested that DefiLlama charges the list, which is completely untrue. In fact, DefiLlama never rejected any project due to the number of fans, nor charged any fees, and insisted on strict due diligence to ensure the data is authentic and reliable.