Ask about Defrost
Logo of DefrostDefrost(MELT)
Total Value Locked$81,735.3

TVL by Chain

Avalanche$81,735.3

Key Metrics

Staked$0

Protocol Information

Defrost Finance is a decentralized protocol that allows you to leverage yield-bearing Tokens or other pool tokens from Avalanche and cross-chain protocols as collaterals for generating H2O, a USD-pegged stablecoin.

Category:CDP

Audits:

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Methodology

TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHub

Hacks

Date: Dec 24, 2022

Amount: $6m

Classification: Rugpull

Technique: Oracle Manipulation

Chains: Avalanche

Language: Solidity

Target Type: DeFi Protocol

Returned Funds: $6m

Competitors

Abracadabra Spell ($4.05m)QiDao ($2.17m)Parallel Protocol V3 ($2.07m)Angle ($1.95m)Iron Finance ($315,713.13)xDollar ($96,725.92)Button Wrappers ($25,556.27)TopShelf ($18,960.29)Stabilize ($18,928.99)Teddy Cash ($10,232.07)

Frequently Asked Questions

What is Defrost?

Defrost Finance is a decentralized protocol that allows you to leverage yield-bearing Tokens or other pool tokens from Avalanche and cross-chain protocols as collaterals for generating H2O, a USD-pegged stablecoin.

What is Defrost's TVL?

Defrost currently has $81,735.3 in total value locked. TVL has increased 0.2% over the past 30 days.

What chains does Defrost operate on?

Defrost operates on Avalanche. Avalanche holds the largest share at 100%.

How does Defrost's TVL compare to similar protocols?

Among CDP protocols tracked by DefiLlama, Defrost ranks #84 by TVL. The category holds $7.861b across 190 protocols, and Defrost accounts for <0.1% of that total. Other leading protocols include Sky, USDD, and Lista DAO.

Has Defrost ever been exploited?

Defrost has 1 recorded security incident. The most recent incident occurred on Dec 24, 2022 and involved $6m. It was classified as Rugpull.