Logo of DelphoDelpho
Total Value Locked$471,950.08

TVL by Chain

Hyperliquid L1$471,950.08

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.

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Category:CDP

Audits:

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

Felix CDP ($37.52m)Reservoir Protocol ($23.44m)Parallel Protocol V3 ($2.13m)Hyperstable CDP ($162,418.51)HypeZion Finance ($74,324.67)Keiko Finance ($346.71)Sky Lending ($5.73b)USDD ($1.263b)Lista CDP ($274.74m)Liquity V1 ($185.69m)

Frequently Asked Questions

What is Delpho's TVL?

Delpho currently has $471,950.08 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 #52 by TVL. The category holds $8.079b across 203 protocols, and Delpho accounts for <0.1% of that total. Other leading protocols include Felix CDP, Reservoir Protocol, Parallel Protocol V3, Hyperstable CDP, HypeZion Finance, Keiko Finance, Sky Lending, USDD, Lista CDP, and Liquity V1.