diff --git a/crates/bin/pindexer/src/indexer_ext.rs b/crates/bin/pindexer/src/indexer_ext.rs
index 9ff68994f3..47a9fc5c20 100644
--- a/crates/bin/pindexer/src/indexer_ext.rs
+++ b/crates/bin/pindexer/src/indexer_ext.rs
@@ -7,21 +7,21 @@ pub trait IndexerExt: Sized {
 impl IndexerExt for cometindex::Indexer {
     fn with_default_penumbra_app_views(self) -> Self {
         self.with_index(Box::new(crate::block::Block {}))
-            .with_index(Box::new(crate::stake::ValidatorSet {}))
-            .with_index(Box::new(crate::stake::Slashings {}))
-            .with_index(Box::new(crate::stake::DelegationTxs {}))
-            .with_index(Box::new(crate::stake::UndelegationTxs {}))
-            .with_index(Box::new(crate::governance::GovernanceProposals {}))
-            .with_index(Box::new(crate::dex_ex::Component::new(
-                penumbra_asset::asset::Id::from_str(
-                    // USDC
-                    "passet1w6e7fvgxsy6ccy3m8q0eqcuyw6mh3yzqu3uq9h58nu8m8mku359spvulf6",
-                )
-                .expect("should be able to parse passet"),
-                100.0 * 1000_0000.0,
-            )))
-            .with_index(Box::new(crate::supply::Component::new()))
-            .with_index(Box::new(crate::ibc::Component::new()))
+            //     .with_index(Box::new(crate::stake::ValidatorSet {}))
+            //     .with_index(Box::new(crate::stake::Slashings {}))
+            //     .with_index(Box::new(crate::stake::DelegationTxs {}))
+            //     .with_index(Box::new(crate::stake::UndelegationTxs {}))
+            //     .with_index(Box::new(crate::governance::GovernanceProposals {}))
+            //     .with_index(Box::new(crate::dex_ex::Component::new(
+            //         penumbra_asset::asset::Id::from_str(
+            //             // USDC
+            //             "passet1w6e7fvgxsy6ccy3m8q0eqcuyw6mh3yzqu3uq9h58nu8m8mku359spvulf6",
+            //         )
+            //         .expect("should be able to parse passet"),
+            //         100.0 * 1000_0000.0,
+            //     )))
+            //     .with_index(Box::new(crate::supply::Component::new()))
+            //     .with_index(Box::new(crate::ibc::Component::new()))
             .with_index(Box::new(crate::insights::Component::new(
                 penumbra_asset::asset::Id::from_str(
                     // USDC
diff --git a/crates/bin/pindexer/src/insights/mod.rs b/crates/bin/pindexer/src/insights/mod.rs
index 26887380da..c6f8b9c795 100644
--- a/crates/bin/pindexer/src/insights/mod.rs
+++ b/crates/bin/pindexer/src/insights/mod.rs
@@ -151,6 +151,7 @@ async fn asset_flow(
     asset_id: asset::Id,
     height: u64,
     flow: i128,
+    refund: bool,
     depositor_existed: DepositorExisted,
 ) -> anyhow::Result<()> {
     let asset_pool: Option<(String, String, i32)> = sqlx::query_as("SELECT total_value, current_value, unique_depositors FROM insights_shielded_pool WHERE asset_id = $1 ORDER BY height DESC LIMIT 1").bind(asset_id.to_bytes()).fetch_optional(dbtx.as_mut()).await?;
@@ -164,7 +165,7 @@ async fn asset_flow(
         })
         .transpose()?
         .unwrap_or((0i128, 0i128, 0i32));
-    asset_pool.0 += flow.abs();
+    asset_pool.0 += if refund { 0 } else { flow.max(0) };
     asset_pool.1 += flow;
     asset_pool.2 += match depositor_existed {
         DepositorExisted::Yes => 0,
@@ -431,19 +432,35 @@ impl Component {
             if e.value.asset_id != *STAKING_TOKEN_ASSET_ID {
                 let existed = register_depositor(dbtx, e.value.asset_id, &e.sender).await?;
                 let flow = i128::try_from(e.value.amount.value())?;
-                asset_flow(dbtx, e.value.asset_id, height, flow, existed).await?;
+                asset_flow(dbtx, e.value.asset_id, height, flow, false, existed).await?;
             }
         } else if let Ok(e) = EventOutboundFungibleTokenTransfer::try_from_event(&event.event) {
             if e.value.asset_id != *STAKING_TOKEN_ASSET_ID {
                 let flow = i128::try_from(e.value.amount.value())?;
                 // For outbound transfers, never increment unique count
-                asset_flow(dbtx, e.value.asset_id, height, -flow, DepositorExisted::No).await?;
+                asset_flow(
+                    dbtx,
+                    e.value.asset_id,
+                    height,
+                    -flow,
+                    false,
+                    DepositorExisted::No,
+                )
+                .await?;
             }
         } else if let Ok(e) = EventOutboundFungibleTokenRefund::try_from_event(&event.event) {
             if e.value.asset_id != *STAKING_TOKEN_ASSET_ID {
                 let flow = i128::try_from(e.value.amount.value())?;
                 // For outbound transfers, never increment unique count.
-                asset_flow(dbtx, e.value.asset_id, height, flow, DepositorExisted::No).await?;
+                asset_flow(
+                    dbtx,
+                    e.value.asset_id,
+                    height,
+                    flow,
+                    true,
+                    DepositorExisted::No,
+                )
+                .await?;
             }
         } else if let Ok(e) = EventCandlestickData::try_from_event(&event.event) {
             if let Some(pn) = self.price_numeraire {