DeFi Protocol Index
Bitcoin DeFi Lending by Protocol
Each DeFi protocol runs several wrapped-Bitcoin lending markets. This rolls them up into one line per protocol: total value locked, average variable borrow rate, utilization, collateral pledged, and total borrowed, across 25 markets on 11 protocols. Updated daily at 14:00 UTC.
Last snapshot: Aug 4, 2026 at 14:00 UTC · Updated daily
Total TVL
$7.91B
11 protocols
Total borrowed
$6.91B
outstanding debt
Total collateral
$10.81B
pledged on-chain
Avg borrow APR
4.19%
variable · USDC, TVL-weighted
Utilization
87%
25 markets
| Protocol | Avg APR | Total TVL | 30d TVL | Utilization | Collateral | Borrowed |
|---|---|---|---|---|---|---|
4 markets · Base, Ethereum · pooled | 4.02%var | $5.31B | 89% | $6.90B | $4.71B | |
4 markets · Ethereum, Base · isolated | 4.63%var | $1.80B | 88% | $2.86B | $1.57B | |
3 markets · Base, Ethereum · isolated | 3.99%var | $351.4M | 90% | $456.9M | $314.8M | |
2 markets · BNB Chain · pooled | 3.86%var | $203.8M | 58% | $264.9M | $118.3M | |
2 markets · Solana · pooled | 5.88%var | $108.9M | 88% | $141.5M | $95.4M | |
3 markets · Ethereum · configurable | 3.58%var | $69.9M | 90% | $90.9M | $62.6M | |
3 markets · Ethereum · isolated | 6.73%var | $27.6M | 36% | $15.3M | $9.9M | |
1 market · Avalanche · pooled | 6.64%var | $17.9M | 83% | $23.3M | $14.8M | |
1 market · stacks · configurable | 2.35%var | $10.1M | 50% | $46.2M | $5.0M | |
1 market · stacks · isolated | 1.76%var | $5.0M | 32% | $10.6M | $1.6M | |
1 market · Arbitrum · pooled | 7.41%var | $4.4M | 65% | $5.7M | $2.9M | |
| All protocols | 4.19%var | $7.91B | 87% | $10.81B | $6.91B |
How these metrics have tracked
Market-wide daily totals across every protocol. 42 days of history so far; the charts deepen with each daily snapshot.
Cite this data
Bitcoin DeFi lending by protocol: $7.9B total TVL across 11 protocols and 25 wrapped-BTC markets, 4.19% average variable USDC APR, 87% utilization. borrow/on/bitcoin, Aug 4, 2026. https://borrowonbitcoin.com/defi-loans/protocols
Free to cite with attribution and a link. Media inquiries welcome.
How this is calculated
- Avg APR is the TVL-weighted average variable borrow rate across a protocol's USDC markets. DeFi rates are always variable and move with utilization.
- Total TVL sums the USD size of each market's loan-asset pool. Total collateral sums the wrapped Bitcoin pledged; total borrowed sums outstanding debt.
- Utilization is total borrowed divided by total supplied across all of a protocol's markets, not a simple average of per-market figures.
- Figures are snapshotted daily at 14:00 UTC. On-protocol interfaces show real-time values; this page shows the latest daily capture. We track each market historically so trends accrue over time.
Aggregated on-chain data, not financial advice. See the full DeFi methodology, the DeFi Rate Index, and CeFi vs DeFi Bitcoin loans.
Reporters and researchers: this dataset is free to cite with attribution and a link to borrowonbitcoin.com. Machine-readable feeds at /defi-protocol-index.json and /defi-protocol-index.csv. Media inquiries welcome.