Ask about Convertibles · freeProtocol Information
Structured credit protocol issuing convertible tokens that redeem at $1 or convert into ETH at a fixed price, offering stablecoin downside protection with ETH upside
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubCompetitors
Convertibles history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Feb 1, 2026 to Oct 19, 2026.
All-time high TVL: $465 on Feb 3, 2026. All-time low TVL: $32 on Jun 26, 2026.
Daily TVL, Sep 20, 2026 to Oct 19, 2026
| Date | TVL |
|---|---|
| Sep 20, 2026 | $55 |
| Sep 21, 2026 | $56 |
| Sep 22, 2026 | $58 |
| Sep 23, 2026 | $58 |
| Sep 24, 2026 | $57 |
| Sep 25, 2026 | $56 |
| Sep 26, 2026 | $57 |
| Sep 27, 2026 | $57 |
| Sep 28, 2026 | $56 |
| Sep 29, 2026 | $56 |
| Sep 30, 2026 | $56 |
| Oct 1, 2026 | $57 |
| Oct 2, 2026 | $57 |
| Oct 3, 2026 | $56 |
| Oct 4, 2026 | $57 |
| Oct 5, 2026 | $57 |
| Oct 6, 2026 | $57 |
| Oct 7, 2026 | $57 |
| Oct 8, 2026 | $54 |
| Oct 9, 2026 | $52 |
| Oct 10, 2026 | $52 |
| Oct 11, 2026 | $53 |
| Oct 12, 2026 | $53 |
| Oct 13, 2026 | $52 |
| Oct 14, 2026 | $53 |
| Oct 15, 2026 | $51 |
| Oct 16, 2026 | $51 |
| Oct 17, 2026 | $51 |
| Oct 18, 2026 | $51 |
| Oct 19, 2026 | $51 |
TVL at each month end, Feb 2026 to Oct 2026
| Date | TVL |
|---|---|
| Feb 28, 2026 | $41 |
| Mar 31, 2026 | $43 |
| Apr 30, 2026 | $48 |
| May 31, 2026 | $43 |
| Jun 30, 2026 | $33 |
| Jul 31, 2026 | $40 |
| Aug 31, 2026 | $51 |
| Sep 30, 2026 | $56 |
| Oct 19, 2026 (latest) | $51 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/convertibles
Frequently asked questions
What is Convertibles' TVL?
As of Oct 19, 2026, Convertibles has $51.64 in total value locked. TVL has decreased 6.1% over the past 30 days.
What chains does Convertibles operate on?
Convertibles operates on Ethereum. Ethereum holds the largest share at 100%.
How does Convertibles' TVL compare to similar protocols?
Among Options protocols tracked by DefiLlama, Convertibles ranks #56 by TVL. The category holds $212.88m across 72 protocols, and Convertibles accounts for <0.1% of that total. Other leading protocols include Derive V3 Options, Hegic, Panoptic V2, SOFA.org, Ribbon Earn, Opyn Gamma, Opyn Convexity, Siren, Pods Finance, and Cega V1.