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
$7.93B
11 protocols
Total borrowed
$6.93B
outstanding debt
Total collateral
$10.94B
pledged on-chain
Avg borrow APR
4.27%
variable · USDC, TVL-weighted
Utilization
87%
25 markets
| Protocol | Avg APR | Total TVL | 30d TVL | Utilization | Collateral | Borrowed |
|---|---|---|---|---|---|---|
4 markets · Base, Ethereum · pooled | 4.01%var | $5.32B | 88% | $6.92B | $4.70B | |
4 markets · Ethereum, Base · isolated | 5.00%var | $1.80B | 89% | $2.95B | $1.59B | |
3 markets · Base, Ethereum · isolated | 4.04%var | $351.2M | 90% | $456.5M | $315.0M | |
2 markets · BNB Chain · pooled | 3.81%var | $208.7M | 57% | $271.3M | $119.4M | |
2 markets · Solana · pooled | 5.97%var | $106.4M | 89% | $138.3M | $94.8M | |
3 markets · Ethereum · configurable | 4.57%var | $73.5M | 90% | $95.6M | $66.4M | |
3 markets · Ethereum · isolated | 6.30%var | $27.6M | 36% | $15.6M | $9.8M | |
1 market · Avalanche · pooled | 6.60%var | $18.0M | 82% | $23.4M | $14.8M | |
1 market · stacks · configurable | 2.35%var | $10.1M | 50% | $47.2M | $5.0M | |
1 market · stacks · isolated | 1.77%var | $5.0M | 32% | $10.6M | $1.6M | |
1 market · Arbitrum · pooled | 7.21%var | $4.4M | 63% | $5.7M | $2.8M | |
| All protocols | 4.27%var | $7.93B | 87% | $10.94B | $6.93B |
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, 4.27% 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.