A crypto card program moved its entire TVL — 70,000 active cards, 300,000 accounts — to a new chain almost invisibly. This explorer shows what "TVL migration" physically means on-chain, and why users never noticed. Set the numbers, then press migrate.
Total Value Locked = the sum of assets deposited in a protocol's smart contracts, priced in USD. For a card program it's the collateral backing spending balances. TVL isn't revenue — it's custody. It can leave as fast as it arrived.
Large migrations run in phases: (1) deploy mirrored contracts on the destination chain, (2) bridge assets in batches to limit bridge-liquidity stress, (3) flip the routing layer so new transactions settle on the new chain, (4) drain and deprecate old contracts. Users keep swiping the whole time because the card rails sit above the settlement layer.
Card users interact with an app and a Visa/Mastercard rail, not a chain. When settlement moves, only the backend custody address changes. That abstraction is the point: crypto infra succeeding looks like nothing happening.
Dashboards like DeFiLlama categorize protocols once and update slowly. A product that evolved from liquid staking into a payments network keeps its old label, so its card TVL gets filed under "liquid staking" — a reminder to read contracts, not categories.