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 24 markets on 9 protocols. Updated daily at 14:00 UTC.
Last snapshot: Jul 13, 2026 at 14:00 UTC · Updated daily
Total TVL
$7,531.9M
9 protocols
Total borrowed
$6,443.1M
outstanding debt
Total collateral
$10,320.8M
pledged on-chain
Avg borrow APR
4.26%
variable · USDC, TVL-weighted
Utilization
86%
24 markets
| Protocol | Avg APR | Total TVL | 30d TVL | Utilization | Collateral | Borrowed |
|---|---|---|---|---|---|---|
Aave v3 4 markets · Base, Ethereum · pooled | 3.95%var | $5,076.5M | 85% | $6,599.5M | $4,301.8M | |
Morpho 5 markets · Ethereum, Base · isolated | 5.02%var | $1,688.9M | 90% | $2,745.6M | $1,518.4M | |
Compound v3 3 markets · Ethereum, Base · isolated | 4.14%var | $343.7M | 90% | $446.9M | $309.4M | |
Venus 2 markets · BNB Chain · pooled | 4.38%var | $185.7M | 66% | $241.4M | $122.0M | |
Kamino 2 markets · Solana · pooled | 5.86%var | $103.8M | 86% | $134.9M | $88.9M | |
Euler v2 3 markets · Ethereum · configurable | 4.27%var | $83.4M | 90% | $108.4M | $75.3M | |
Fluid 3 markets · Ethereum · isolated | 6.61%var | $27.4M | 36% | $14.9M | $9.9M | |
Benqi 1 market · Avalanche · pooled | 6.36%var | $17.9M | 79% | $23.2M | $14.2M | |
Dolomite 1 market · Arbitrum · pooled | 8.52%var | $4.5M | 74% | $5.8M | $3.3M | |
| All protocols | 4.26%var | $7,531.9M | 86% | $10,320.8M | $6,443.1M |
How these metrics have tracked
Market-wide daily totals across every protocol. 20 days of history so far; the charts deepen with each daily snapshot.
Cite this data
Bitcoin DeFi lending by protocol: $7.5B total TVL across 9 protocols and 24 wrapped-BTC markets, 4.26% average variable USDC APR, 86% utilization. borrow/on/bitcoin, Jul 13, 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 and the DeFi Rate Index.
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.