Ask about Delpho
Logo of DelphoDelpho
Total Value Locked$252,841.01

TVL by Chain

Hyperliquid L1$252,841.01

Protocol Information

Delpho is a CDP protocol on HyperEVM. Users deposit collateral to mint USDV, an overcollateralized stablecoin, at 0% interest. The protocol runs delta-neutral positions on Hyperliquid's perpetual markets and streams the resulting funding yield to sUSDV stakers.

Category:CDP

Audits:

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Methodology

TVL: TVL is user collateral deposited into Delpho, read via the vault's totalCollateral view which aggregates buffer, allocated, and executor-deployed amounts. Supported collateral tokens are enumerated from the Delpho config provider (getAllSupportedTokens). USDV (minted debt) and sUSDV (staked USDV) are excluded to avoid double-counting.View code on GitHub

Competitors

Reservoir Protocol ($33.08m)Felix CDP ($31.04m)Parallel Protocol V3 ($2.05m)Hyperstable CDP ($124,269.23)HypeZion Finance ($54,990.89)Keiko Finance ($19,677.93)

Frequently Asked Questions

What is Delpho?

Delpho is a CDP protocol on HyperEVM. Users deposit collateral to mint USDV, an overcollateralized stablecoin, at 0% interest. The protocol runs delta-neutral positions on Hyperliquid's perpetual markets and streams the resulting funding yield to sUSDV stakers.

What is Delpho's TVL?

Delpho currently has $252,841.01 in total value locked.

What chains does Delpho operate on?

Delpho operates on Hyperliquid L1. Hyperliquid L1 holds the largest share at 100%.

How does Delpho's TVL compare to similar protocols?

Among CDP protocols tracked by DefiLlama, Delpho ranks #64 by TVL. The category holds $7.803b across 192 protocols, and Delpho accounts for <0.1% of that total. Other leading protocols include Sky, USDD, and Lista DAO.