The decentralized finance (DeFi) sector is being urged to adopt a new metric, Total Value Covered (TVC), to better assess the security of capital within protocols. Vincent Maliepaard, Marketing Director at Sentora, argues that the current reliance on Total Value Locked (TVL) is insufficient as it measures only the amount of capital deposited, not the security of that capital. Maliepaard highlights that while TVL indicates where capital is sitting, it does not account for the robustness of the underlying infrastructure. This has been evident in cases like the Ronin bridge exploit, where TVL plummeted from $1.2 billion to $15 million. The proposed TVC metric would measure the capital explicitly protected by risk-transfer mechanisms, providing a clearer picture of a protocol's resilience and readiness for institutional adoption. This shift in focus from merely attracting capital to ensuring its protection could lead to a healthier DeFi ecosystem.