Chain reads

In September 2026 DefiLlama moved the value of the largest tokenized-asset protocols behind its paid API. Its free feed still lists them; it reports their value as nothing. The market total this site used to publish fell from $27B to $4.5B overnight, and the check built for exactly that case refused to publish it.

The addresses did not disappear. DefiLlama's adapters are open source, and for a tokenized Treasury fund, a gold token or a tokenized stock the method is one line: read the contract's supply on every chain it lives on, price it, add it up. This page is that read, done by us, every six hours, on every chain a public node will serve.

The number, and what is behind it

The green line is DefiLlama's free feed for protocols we do not read ourselves. The other is our chain reads. They are never added for the same protocol. The "still uncovered" figure is the August 8 value of every (protocol, chain) leg that is in neither: gated by DefiLlama and never read by us, whether the protocol is wholly unread or read on some chains and not others. It is a stale number carried so the gap has a size, and it shrinks as the registry grows. It is counted per leg since 2026-09-28; counted per protocol it read $2.12B across 13, and the largest unread leg in the gap, Spiko on Stellar at $1.42B, was invisible because Spiko's Ethereum, Polygon, Arbitrum and Base legs are read. Per leg it read $3.65B; that Stellar leg is read since the same day (nine Soroban share classes, $1.68B at first read), Centrifuge's pool NAV on Ethereum, Avalanche, Optimism, Arbitrum and (since 09-29) Base, and the figure is $645.8M across 19 protocols, of which Centrifuge's five unread chains are $54M.

Per protocol: our read, our read on August 8, DefiLlama on August 8

August 8 is the last day DefiLlama's free feed carried these protocols, and the day this project's offsite archive holds. Reading the same contracts at that day's block is the test: if the method is right, the middle column equals the right one.

"Read at head" counts chains where no public node serves past state (Solana, Aptos, Stellar, XRPL), so the read is today's and cannot be compared to August 8. "All priced" is false when a share class has no public price; its supply is recorded and its value is left empty rather than guessed.

What this is not

It is not the published market total. It is the candidate for it, kept apart until the decision is made. It covers supply reads and, since 2026-09-28, two other kinds of read, each exactly as its adapter counts it: a holder-balance read (Hastra, what its two staking contracts and its redemption vault hold) and a pool-NAV read (Centrifuge, the totalAssets of the ERC-4626 vault behind every share class its factories have deployed, on Ethereum, Avalanche, Optimism and Arbitrum; its other six chains are unread and stay in the uncovered figure). It does not cover protocols whose adapters count loans or an issuer's own API. And it is only as good as the address list, which is why every row in the database carries the adapter path and commit that named the contract, and Centrifuge's discovered share classes sit in a table of their own.