Hey there, crypto enthusiasts! If you’ve been keeping an eye on the decentralized finance (DeFi) space, you’ve probably heard the exciting news from DefiLlama. They’ve just started tracking the Figure Markets Exchange on the Provenance Blockchain, and it’s making waves with a whopping $90.46 million Total Value Locked (TVL)​. Let’s break this down and explore what this means for the future of DeFi!

What’s Figure Markets Exchange All About?

Figure Markets Exchange is not your average crypto trading platform. It’s a self-custodial, institutional-grade crypto exchange that combines off-chain matching with on-chain settlement. In simple terms, this means you get to keep full control of your assets (thanks to self-custody) while enjoying the security and transparency of blockchain technology. Plus, it offers zero-fee trading and uses smart-contract-based security entitlements, which is a big deal for anyone worried about costs or safety.

The exchange leverages Multi-Party Computation (MPC) wallet custody, a cutting-edge technology that splits your private keys among multiple parties. This makes it nearly impossible for hackers to steal your funds, even if one party is compromised. It’s like having a super-secure vault with multiple locks—pretty cool, right?

Why Provenance Blockchain?

The Provenance Blockchain is a Layer 1 blockchain built with the Cosmos SDK, designed specifically for tokenizing real-world assets (RWAs). This makes it a perfect fit for Figure Markets, which also focuses on innovative financial products like borrowing and lending against real assets. With Provenance’s focus on efficiency, transparency, and security, it’s no surprise that Figure Markets chose this network to power its exchange.

The $90.46M Total Value Locked: What Does It Mean?

The Total Value Locked (TVL)​ is a key metric in DeFi, showing the total amount of assets locked in a protocol. A TVL of $90.46 million is a strong signal that users are trusting Figure Markets with their funds. This could be due to its unique features like zero-fee trading, self-custody, and the backing of Provenance’s robust blockchain. For context, a high TVL often indicates a healthy and growing ecosystem, which is great news for investors and traders alike.

Why This Matters for Meme Token Enthusiasts

Even if you’re here for the latest meme tokens, this development is worth a look. The DeFi space often influences meme coin trends, as innovative platforms like Figure Markets can attract liquidity and attention. Who knows? The next big meme token might find a home on a platform like this, riding the wave of DeFi innovation!

Looking Ahead

As of 09:17 PM +07 on July 29, 2025, this update from DefiLlama marks an exciting milestone for Figure Markets and Provenance. With its focus on security, low costs, and real-world asset integration, this exchange could set a new standard in the DeFi world. Keep an eye on DefiLlama’s updates for more insights, and let us know your thoughts in the comments below!

Whether you’re a blockchain pro or just dipping your toes into crypto, this is a development worth watching. Got questions about MPC wallets or Provenance? Drop them below, and I’ll do my best to help—or offer to dig deeper if needed!