According to data provider DeFiLlama, even after the Saber ecosystem's upward momentum stalled in mid-September 2021, the TVL of the Solana network continued to expand, peaking at around $15 billion around November 9th, while Saber's TVL had already dropped by 64% by then. Ian writes that he disdains such "vanity metrics"; however, "Ethereum's TVL is much higher than Solana's, which bothers me," because in his view, DeFi projects on Ethereum are "stacked" and can be repeatedly calculated.
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