> For the complete documentation index, see [llms.txt](https://bagelsofficial.gitbook.io/bagels-finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://bagelsofficial.gitbook.io/bagels-finance/protocol-introduction/key-parameters.md).

# Calculation Methodology

### **Total Value Locked**

Total Value Locked (TVL) is a common metric within DeFi. It measures the total value of the capital invested into a protocol at a current time. For Bagels Finance, we count the following elements within our TVL:

1. Value of total LP locked in leverage
2. Total lending supply（except the lent）
3. Value of BAGEL locked in DAO
4. Value of BAGEL/BUSD staked