{"bundle_type":"pith_open_graph_bundle","bundle_version":"1.0","pith_number":"pith:2024:KSUCHGH7SDES7E4PZI3472CY6B","short_pith_number":"pith:KSUCHGH7","canonical_record":{"source":{"id":"2404.11745","kind":"arxiv","version":5},"metadata":{"license":"http://creativecommons.org/licenses/by/4.0/","primary_cat":"q-fin.GN","submitted_at":"2024-04-17T20:51:54Z","cross_cats_sorted":[],"title_canon_sha256":"8b3cbf6686f8bdacde6421e3cabd441a59189193963d0e67c6dad5eb3f7f70de","abstract_canon_sha256":"26349b2298a930a21336b44595fcf4974f47d6e468d685c05ac3c687adf5783d"},"schema_version":"1.0"},"canonical_sha256":"54a82398ff90c92f938fca37cfe858f05a43f3868fd0d9052fa62490e658cd84","source":{"kind":"arxiv","id":"2404.11745","version":5},"source_aliases":[{"alias_kind":"arxiv","alias_value":"2404.11745","created_at":"2026-07-05T11:31:38Z"},{"alias_kind":"arxiv_version","alias_value":"2404.11745v5","created_at":"2026-07-05T11:31:38Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.2404.11745","created_at":"2026-07-05T11:31:38Z"},{"alias_kind":"pith_short_12","alias_value":"KSUCHGH7SDES","created_at":"2026-07-05T11:31:38Z"},{"alias_kind":"pith_short_16","alias_value":"KSUCHGH7SDES7E4P","created_at":"2026-07-05T11:31:38Z"},{"alias_kind":"pith_short_8","alias_value":"KSUCHGH7","created_at":"2026-07-05T11:31:38Z"}],"events":[{"event_type":"record_created","subject_pith_number":"pith:2024:KSUCHGH7SDES7E4PZI3472CY6B","target":"record","payload":{"canonical_record":{"source":{"id":"2404.11745","kind":"arxiv","version":5},"metadata":{"license":"http://creativecommons.org/licenses/by/4.0/","primary_cat":"q-fin.GN","submitted_at":"2024-04-17T20:51:54Z","cross_cats_sorted":[],"title_canon_sha256":"8b3cbf6686f8bdacde6421e3cabd441a59189193963d0e67c6dad5eb3f7f70de","abstract_canon_sha256":"26349b2298a930a21336b44595fcf4974f47d6e468d685c05ac3c687adf5783d"},"schema_version":"1.0"},"canonical_sha256":"54a82398ff90c92f938fca37cfe858f05a43f3868fd0d9052fa62490e658cd84","receipt":{"kind":"pith_receipt","key_id":"pith-v1-2026-05","algorithm":"ed25519","signed_at":"2026-07-05T11:31:38.460754Z","signature_b64":"fd4sAn+I0Wkcjy4odV1copaphYjMuPQCmPa+ejOKGta9Hr4euJG45CLoaBv7H60fnDJkaHImUnQ2J2joazPrDw==","signed_message":"canonical_sha256_bytes","builder_version":"pith-number-builder-2026-05-17-v1","receipt_version":"0.3","canonical_sha256":"54a82398ff90c92f938fca37cfe858f05a43f3868fd0d9052fa62490e658cd84","last_reissued_at":"2026-07-05T11:31:38.460335Z","signature_status":"signed_v1","first_computed_at":"2026-07-05T11:31:38.460335Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"source_kind":"arxiv","source_id":"2404.11745","source_version":5,"attestation_state":"computed"},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-07-05T11:31:38Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"uDXrA70FrSAWa1ELhgpbiFaWWrvAPj0eIVmtXzKLJhlJJq7IXZKWbO0B2PNayb4eI68u1pyUldqS4ujhEpFlBA==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-08-09T23:19:13.073577Z"},"content_sha256":"d84b997ce162bd7caaff7f52c695a6e26248e7f96e45a3f4d3c968d7d26d7b3f","schema_version":"1.0","event_id":"sha256:d84b997ce162bd7caaff7f52c695a6e26248e7f96e45a3f4d3c968d7d26d7b3f"},{"event_type":"graph_snapshot","subject_pith_number":"pith:2024:KSUCHGH7SDES7E4PZI3472CY6B","target":"graph","payload":{"graph_snapshot":{"paper":{"title":"Piercing the Veil of TVL: DeFi Reappraised","license":"http://creativecommons.org/licenses/by/4.0/","headline":"","cross_cats":[],"primary_cat":"q-fin.GN","authors_text":"Jiahua Xu, Paolo Tasca, Yebo Feng, Yichen Luo","submitted_at":"2024-04-17T20:51:54Z","abstract_excerpt":"Total value locked (TVL) is widely used to measure the size and popularity of decentralized finance (DeFi). However, TVL can be easily manipulated and inflated through \"double counting\" activities such as wrapping and leveraging. As existing methodologies addressing double counting are inconsistent and flawed, we propose a new framework, termed \"total value redeemable (TVR)\", to assess the true underlying value of DeFi. Our formal analysis reveals how DeFi's complex network spreads financial contagion via derivative tokens, increasing TVL's sensitivity to external shocks. To quantify double co"},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"2404.11745","kind":"arxiv","version":5},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"integrity":{"clean":true,"summary":{"advisory":0,"critical":0,"by_detector":{},"informational":0},"endpoint":"/pith/2404.11745/integrity.json","findings":[],"available":true,"detectors_run":[],"snapshot_sha256":"c28c3603d3b5d939e8dc4c7e95fa8dfce3d595e45f758748cecf8e644a296938"},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"},"verdict_id":null},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-07-05T11:31:38Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"f7l4Eqq0/Td2rUYJhUULo1+sBFrFt23ygB82vzIHCjEggX98Rizxwsy8RwalngD66/XgBeV6k79BsgovvmnLAg==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-08-09T23:19:13.074240Z"},"content_sha256":"aaf1e2e3c262221df884cca01eeaecc76e996eb11e1c026d99832d72f422dece","schema_version":"1.0","event_id":"sha256:aaf1e2e3c262221df884cca01eeaecc76e996eb11e1c026d99832d72f422dece"}],"timestamp_proofs":[],"mirror_hints":[{"mirror_type":"https","name":"Pith Resolver","base_url":"https://pith.science","bundle_url":"https://pith.science/pith/KSUCHGH7SDES7E4PZI3472CY6B/bundle.json","state_url":"https://pith.science/pith/KSUCHGH7SDES7E4PZI3472CY6B/state.json","well_known_bundle_url":"https://pith.science/.well-known/pith/KSUCHGH7SDES7E4PZI3472CY6B/bundle.json","status":"primary"}],"public_keys":[{"key_id":"pith-v1-2026-05","algorithm":"ed25519","format":"raw","public_key_b64":"stVStoiQhXFxp4s2pdzPNoqVNBMojDU/fJ2db5S3CbM=","public_key_hex":"b2d552b68890857171a78b36a5dccf368a953413288c353f7c9d9d6f94b709b3","fingerprint_sha256_b32_first128bits":"RVFV5Z2OI2J3ZUO7ERDEBCYNKS","fingerprint_sha256_hex":"8d4b5ee74e4693bcd1df2446408b0d54","rotates_at":null,"url":"https://pith.science/pith-signing-key.json","notes":"Pith uses this Ed25519 key to sign canonical record SHA-256 digests. Verify with: ed25519_verify(public_key, message=canonical_sha256_bytes, signature=base64decode(signature_b64))."}],"merge_version":"pith-open-graph-merge-v1","built_at":"2026-08-09T23:19:13Z","links":{"resolver":"https://pith.science/pith/KSUCHGH7SDES7E4PZI3472CY6B","bundle":"https://pith.science/pith/KSUCHGH7SDES7E4PZI3472CY6B/bundle.json","state":"https://pith.science/pith/KSUCHGH7SDES7E4PZI3472CY6B/state.json","well_known_bundle":"https://pith.science/.well-known/pith/KSUCHGH7SDES7E4PZI3472CY6B/bundle.json"},"state":{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2024:KSUCHGH7SDES7E4PZI3472CY6B","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"26349b2298a930a21336b44595fcf4974f47d6e468d685c05ac3c687adf5783d","cross_cats_sorted":[],"license":"http://creativecommons.org/licenses/by/4.0/","primary_cat":"q-fin.GN","submitted_at":"2024-04-17T20:51:54Z","title_canon_sha256":"8b3cbf6686f8bdacde6421e3cabd441a59189193963d0e67c6dad5eb3f7f70de"},"schema_version":"1.0","source":{"id":"2404.11745","kind":"arxiv","version":5}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"2404.11745","created_at":"2026-07-05T11:31:38Z"},{"alias_kind":"arxiv_version","alias_value":"2404.11745v5","created_at":"2026-07-05T11:31:38Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.2404.11745","created_at":"2026-07-05T11:31:38Z"},{"alias_kind":"pith_short_12","alias_value":"KSUCHGH7SDES","created_at":"2026-07-05T11:31:38Z"},{"alias_kind":"pith_short_16","alias_value":"KSUCHGH7SDES7E4P","created_at":"2026-07-05T11:31:38Z"},{"alias_kind":"pith_short_8","alias_value":"KSUCHGH7","created_at":"2026-07-05T11:31:38Z"}],"graph_snapshots":[{"event_id":"sha256:aaf1e2e3c262221df884cca01eeaecc76e996eb11e1c026d99832d72f422dece","target":"graph","created_at":"2026-07-05T11:31:38Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"integrity":{"available":true,"clean":true,"detectors_run":[],"endpoint":"/pith/2404.11745/integrity.json","findings":[],"snapshot_sha256":"c28c3603d3b5d939e8dc4c7e95fa8dfce3d595e45f758748cecf8e644a296938","summary":{"advisory":0,"by_detector":{},"critical":0,"informational":0}},"paper":{"abstract_excerpt":"Total value locked (TVL) is widely used to measure the size and popularity of decentralized finance (DeFi). However, TVL can be easily manipulated and inflated through \"double counting\" activities such as wrapping and leveraging. As existing methodologies addressing double counting are inconsistent and flawed, we propose a new framework, termed \"total value redeemable (TVR)\", to assess the true underlying value of DeFi. Our formal analysis reveals how DeFi's complex network spreads financial contagion via derivative tokens, increasing TVL's sensitivity to external shocks. To quantify double co","authors_text":"Jiahua Xu, Paolo Tasca, Yebo Feng, Yichen Luo","cross_cats":[],"headline":"","license":"http://creativecommons.org/licenses/by/4.0/","primary_cat":"q-fin.GN","submitted_at":"2024-04-17T20:51:54Z","title":"Piercing the Veil of TVL: DeFi Reappraised"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"2404.11745","kind":"arxiv","version":5},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:d84b997ce162bd7caaff7f52c695a6e26248e7f96e45a3f4d3c968d7d26d7b3f","target":"record","created_at":"2026-07-05T11:31:38Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"26349b2298a930a21336b44595fcf4974f47d6e468d685c05ac3c687adf5783d","cross_cats_sorted":[],"license":"http://creativecommons.org/licenses/by/4.0/","primary_cat":"q-fin.GN","submitted_at":"2024-04-17T20:51:54Z","title_canon_sha256":"8b3cbf6686f8bdacde6421e3cabd441a59189193963d0e67c6dad5eb3f7f70de"},"schema_version":"1.0","source":{"id":"2404.11745","kind":"arxiv","version":5}},"canonical_sha256":"54a82398ff90c92f938fca37cfe858f05a43f3868fd0d9052fa62490e658cd84","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"54a82398ff90c92f938fca37cfe858f05a43f3868fd0d9052fa62490e658cd84","first_computed_at":"2026-07-05T11:31:38.460335Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-07-05T11:31:38.460335Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"fd4sAn+I0Wkcjy4odV1copaphYjMuPQCmPa+ejOKGta9Hr4euJG45CLoaBv7H60fnDJkaHImUnQ2J2joazPrDw==","signature_status":"signed_v1","signed_at":"2026-07-05T11:31:38.460754Z","signed_message":"canonical_sha256_bytes"},"source_id":"2404.11745","source_kind":"arxiv","source_version":5}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:d84b997ce162bd7caaff7f52c695a6e26248e7f96e45a3f4d3c968d7d26d7b3f","sha256:aaf1e2e3c262221df884cca01eeaecc76e996eb11e1c026d99832d72f422dece"],"state_sha256":"31215054183a0306e5091cfb3ef2f3e10cc0fd1c6eaea4cb7fa017a03c9e91bc"},"bundle_signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"jQWxehqdj0KSMBsEfjmI5Os0+CySwL9oqF50Y/+t9Qx0G43q1SJFslzR/+Lq+dThRONGWk67pRqR3e6whYcFCg==","signed_message":"bundle_sha256_bytes","signed_at":"2026-08-09T23:19:13.079671Z","bundle_sha256":"405db5f6e87853a0839bad3a31656e46b1154c8a1237358cb6c6ae0cbe1d905c"}}