Railgun’s official project dashboard on Dune shows the protocol’s total value locked (TVL) reaching a February high while user activity stayed elevated, based on the latest charts available on the dashboard.
TVL tracks the notional value of assets sitting inside a protocol’s smart contracts, so a higher reading can translate into deeper liquidity conditions for private transfers and DeFi-style routing. Elevated activity alongside that liquidity profile is a useful signal for operators and allocators because it suggests engagement is not just parked capital, but ongoing usage across the product surface.
Next, stakeholders will monitor whether TVL holds near that peak as flows normalize, and whether activity metrics remain sticky across the next refresh cycles. Any published methodology notes, update cadence, and metric definitions on the dashboard will be key to aligning internal reporting, risk controls, and external communications.
Source: Dune (Railgun Project dashboard).
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