Total Value Locked$2.52m
TVL by Chain
Ethereum$2.52m
The chart plots Active Loans as its own series; it is not part of the TVL above.
Key Metrics
Active Loans$5.06m
Protocol Information
A KYC-gated credit protocol bringing Forest Road's specialty finance book on-chain. USDfr is minted 1:1 against USDC, and staked sUSDfr earns the interest from identified credit facilities, protected by curator first-loss capital and an sGROVE coverage reserve
Sub Category: Private Credit
Methodology
TVL: TVL is the USDC held by the ReserveManager, the reserve that backs USDfr. Borrowed is the principal deployed to credit facilities, net of recognized impairments, as recorded on chain by the ReserveManager. USDfr held by sUSDfr, curator first-loss pools and the sGROVE coverage reserve is a claim on the same reserve and is not counted again.View code on GitHubCompetitors
Forest Road Vault history
TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Oct 23, 2026 to Oct 23, 2026.
All-time high TVL: $2.52m on Oct 23, 2026. All-time low TVL: $2.52m on Oct 23, 2026.
Daily TVL, Oct 23, 2026 to Oct 23, 2026
| Date | TVL |
|---|---|
| Oct 23, 2026 | $2.52m |
TVL at each month end, Oct 2026 to Oct 2026
| Date | TVL |
|---|---|
| Oct 23, 2026 (latest) | $2.52m |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/forest-road-vault
Frequently asked questions
What is Forest Road Vault's TVL?
As of Oct 23, 2026, Forest Road Vault has $2.52m in total value locked.
What chains does Forest Road Vault operate on?
Forest Road Vault operates on Ethereum. Ethereum holds the largest share at 100%.
How does Forest Road Vault's TVL compare to similar protocols?
Among RWA protocols tracked by DefiLlama, Forest Road Vault ranks #45 by TVL. The category holds $4.108b across 176 protocols, and Forest Road Vault accounts for 0.1% of that total. Similar protocols include Ethena USDtb, Re, Huma, Anemoy Capital, OpenTrade, Plume Vaults, Theo Network thUSD, Ember, Frax USD, and Sky RWA.
How much has been borrowed through Forest Road Vault?
As of Oct 23, 2026, Forest Road Vault has $5.06m in active loans.