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BTCD

Total Value Locked$244,075

TVL by Chain

Ethereum$242,002

Arbitrum$2,073

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Protocol Information

BTCD is a 50/50 BTC/USD balanced base token that pairs with sBTCD (its yield-bearing staked counterpart) and FISC (governance) to form a novel DeFi primitive on Ethereum. Yield is generated primarily through productive asset allocation across BTC and USD sleeves, with internal RFQ rebalancing between vaults handling exposure shifts as BTC moves.

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Category:Yield

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Methodology

TVL: On-chain collateral across the protocol's custody contracts and eight driver contracts. Most value is captured by ERC-20 balanceOf (including Curve gauge tokens, fLiteUSD shares, and Aave V3 variable-debt WBTC — priced negatively to net out carry-trade debt); the YieldBasis LT and Morpho Blue supply positions are read explicitly. Arbitrum holds the GMX V2 sleeve. Off-chain custody is not included.View code on GitHub

Yields

Pools Tracked1

Average Supply APY7.98%

Competitors

Spark Savings ($1.259b)Pendle V2 ($998m)Convex Finance ($504.59m)Stake DAO Yield ($130.58m)AUTOfinance ($36.93m)Spectra V2 ($10.68m)Equilibria ($9.39m)Aura ($8.95m)Royco V2 ($6.55m)Harmonix Finance ($5.78m)

BTCD history

TVL is the default DefiLlama definition. Daily values are UTC snapshots from May 21, 2026 to Nov 6, 2026.

All-time high TVL: $1.83m on Aug 25, 2026. All-time low TVL: $200,869 on Sep 18, 2026.

Daily TVL, Oct 8, 2026 to Nov 6, 2026

DateTVL
Oct 8, 2026$279,494
Oct 9, 2026$267,414
Oct 10, 2026$269,421
Oct 11, 2026$269,468
Oct 12, 2026$269,627
Oct 13, 2026$264,053
Oct 14, 2026$264,162
Oct 15, 2026$262,708
Oct 16, 2026$261,981
Oct 17, 2026$265,650
Oct 18, 2026$265,684
Oct 19, 2026$260,096
Oct 20, 2026$260,163
Oct 21, 2026$256,740
Oct 22, 2026$256,799
Oct 23, 2026$251,840
Oct 24, 2026$248,968
Oct 25, 2026$248,983
Oct 26, 2026$249,042
Oct 27, 2026$249,005
Oct 28, 2026$249,068
Oct 29, 2026$249,158
Oct 30, 2026$249,038
Oct 31, 2026$243,686
Nov 1, 2026$243,780
Nov 2, 2026$243,769
Nov 3, 2026$243,707
Nov 4, 2026$243,821
Nov 5, 2026$243,936
Nov 6, 2026$243,881

TVL at each month end, May 2026 to Nov 2026

DateTVL
May 31, 2026$730,478
Jun 30, 2026$1.13m
Jul 31, 2026$1.5m
Aug 31, 2026$1.81m
Sep 30, 2026$222,951
Oct 31, 2026$243,686
Nov 6, 2026 (latest)$243,881

The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/btcd

Frequently asked questions

What is BTCD's TVL?

As of Nov 6, 2026, BTCD has $244,075 in total value locked. TVL has decreased 15.6% over the past 30 days.

What chains does BTCD operate on?

BTCD operates on 2 chains: Ethereum and Arbitrum. Ethereum holds the largest share at 99.2%.

How does BTCD's TVL compare to similar protocols?

Among Yield protocols tracked by DefiLlama, BTCD ranks #120 by TVL. The category holds $4.054b across 578 protocols, and BTCD accounts for <0.1% of that total. Similar protocols include Spark Savings, Pendle V2, Convex Finance, Stake DAO Yield, AUTOfinance, Spectra V2, Equilibria, Aura, Royco V2, and Harmonix Finance.

How many yield pools does BTCD have?

DefiLlama tracks 1 BTCD yield pool with an average APY of 8%.