DefiLlama founder 0xngmi stated in an article on the X platform that current claims about Aave TVL being overvalued due to revolving lending are inaccurate. He explained that in TVL statistics, lent assets are excluded, therefore revolving lending does not inflate the total locked value. For example, deposited assets are counted in TVL, while the corresponding lent portion is offset. He further added that DefiLlama had previously eliminated double counting caused by Ethena-related collateralized revolving lending, and believes the related allegations lack basis.