Active loans are not included in TVL by default, to include them toggle Active Loans. For more info, read the active loans discussion.
Ask about Kasu · freeTotal Value Locked$3,422
TVL by Chain
Base$3,422
XDC$0
Plume Mainnet$0
Key Metrics
Fees 30d$86,848
Fees 30d by chain
Base$64,138
XDC$22,710
Plume Mainnet$0
Fees 7d$22,334
Base$14,280
XDC$8,054
Plume Mainnet$0
Fees 24h$3,192
Base$2,040
XDC$1,152
Plume Mainnet$0
Cumulative Fees$1.13m
Base$996,162
XDC$115,849
Plume Mainnet$22,368
Revenue 30d$8,639
Revenue 30d by chain
Base$6,372
XDC$2,264
Plume Mainnet$0
Revenue 7d$2,231
Base$1,428
XDC$803
Plume Mainnet$0
Revenue 24h$320
Base$204
XDC$115
Plume Mainnet$0
Cumulative Revenue$114,065
Base$100,163
XDC$11,530
Plume Mainnet$2,360
Holders Revenue 30d$0
Holders Revenue 30d by chain
Base$0
Plume Mainnet$0
XDC$0
Holders Revenue 7d$0
Base$0
Plume Mainnet$0
XDC$0
Holders Revenue 24h$0
Base$0
Plume Mainnet$0
XDC$0
Cumulative Holders Revenue$0
Base$0
Plume Mainnet$0
XDC$0
Active Loans$12.77m
Total Raised$3m
Jan 11, 2024$3mRound: SeedInvestors: Woodstock, Morningstar Ventures, Faculty Group
Protocol Information
Kasu is a real-world asset protocol bridging institutional-grade private credit yields to DeFi, enabling lenders to earn sustainable returns from tokenised private debt, invoice finance, and other high-grade credit products. It connects TradFi lenders and DeFi liquidity through a hybrid capital stack with transparent, on-chain yield
Audits:
Methodology
TVL: TVL is the stablecoin still held on-chain by Kasu: liquidity in the lending pools, deposits queued in the pending pools awaiting clearing, and loss repayments held by the tranches until claimed. Amounts lent out to borrowers, measured as pool token supply minus pool holdings, plus loans Kasu funds off-chain and reports on-chain, are counted as borrowed.View code on GitHubFees: Gross interest paid by borrowers across Kasu lending pools (performance fees + lender share). Interest accrued during each epoch is spread evenly across the epoch's days.View code on GitHubRevenue: Performance fees captured within the Kasu system: the sum of the protocol-receiver share (ProtocolRevenue) and the rKSU-holder share (HoldersRevenue). Neither is paid to external suppliers.View code on GitHubHolders Revenue: Performance fees distributed to KSU token lockers (rKSU holders). When no rKSU is eligible, the FeeManager redirects this share to the protocol at runtime; such redirection is not reflected in the breakdown.View code on GitHubCompetitors
Kasu history
TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Dec 9, 2025 to Oct 20, 2026.
All-time high TVL: $1.07m on Dec 17, 2025. All-time low TVL: $1 on Apr 28, 2026.
Daily TVL, Sep 21, 2026 to Oct 20, 2026
| Date | TVL |
|---|---|
| Sep 21, 2026 | $4 |
| Sep 22, 2026 | $104 |
| Sep 23, 2026 | $104 |
| Sep 24, 2026 | $104 |
| Sep 25, 2026 | $3,197 |
| Sep 26, 2026 | $3,198 |
| Sep 27, 2026 | $3,198 |
| Sep 28, 2026 | $3,197 |
| Sep 29, 2026 | $3,198 |
| Sep 30, 2026 | $3,698 |
| Oct 1, 2026 | $2,697 |
| Oct 2, 2026 | $2,698 |
| Oct 3, 2026 | $2,698 |
| Oct 4, 2026 | $2,698 |
| Oct 5, 2026 | $2,803 |
| Oct 6, 2026 | $2,803 |
| Oct 7, 2026 | $2,804 |
| Oct 8, 2026 | $2,697 |
| Oct 9, 2026 | $2,697 |
| Oct 10, 2026 | $2,697 |
| Oct 11, 2026 | $2,697 |
| Oct 12, 2026 | $2,697 |
| Oct 13, 2026 | $2,697 |
| Oct 14, 2026 | $2,697 |
| Oct 15, 2026 | $2,697 |
| Oct 16, 2026 | $2,700 |
| Oct 17, 2026 | $2,898 |
| Oct 18, 2026 | $2,898 |
| Oct 19, 2026 | $2,898 |
| Oct 20, 2026 | $3,422 |
TVL at each month end, Dec 2025 to Oct 2026
| Date | TVL |
|---|---|
| Dec 31, 2025 | $811,517 |
| Jan 31, 2026 | $103 |
| Feb 28, 2026 | $364,679 |
| Mar 31, 2026 | $26,448 |
| Apr 30, 2026 | $1 |
| May 31, 2026 | $0 |
| Jun 30, 2026 | $0 |
| Jul 31, 2026 | $9 |
| Aug 31, 2026 | $9 |
| Sep 30, 2026 | $3,698 |
| Oct 20, 2026 (latest) | $3,422 |
Fees, revenue and holders revenue by UTC calendar month, Apr 2025 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Apr 2025 | $18,786 | $2,010 | $0 |
| May 2025 | $41,466 | $4,296 | $0 |
| Jun 2025 | $35,130 | $3,390 | $0 |
| Jul 2025 | $43,662 | $4,242 | $0 |
| Aug 2025 | $41,534 | $4,350 | $0 |
| Sep 2025 | $38,360 | $3,846 | $0 |
| Oct 2025 | $50,436 | $5,016 | $0 |
| Nov 2025 | $48,498 | $5,040 | $0 |
| Dec 2025 | $47,686 | $4,898 | $0 |
| Jan 2026 | $49,667 | $5,058 | $0 |
| Feb 2026 | $51,207 | $5,121 | $0 |
| Mar 2026 | $35,954 | $3,594 | $0 |
| Apr 2026 | $119,236 | $11,881 | $0 |
| May 2026 | $83,356 | $8,517 | $0 |
| Jun 2026 | $85,715 | $8,524 | $0 |
| Jul 2026 | $95,798 | $9,556 | $0 |
| Aug 2026 | $99,567 | $9,944 | $0 |
| Sep 2026 | $84,285 | $8,392 | $0 |
| Oct 2026 (to date) | $64,036 | $6,390 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/kasu
Frequently asked questions
What is Kasu's TVL?
As of Oct 20, 2026, Kasu has $3,422 in total value locked. TVL has increased 85,454.5% over the past 30 days.
What chains does Kasu operate on?
Kasu operates on 3 chains: Base, XDC, and Plume Mainnet. Base holds the largest share at 100%.
How much has Kasu generated in fees and revenue?
Over the past 30 days, Kasu generated $86,848 in fees. Of that, $8,639 was protocol revenue. Based on the trailing year, the annualized rate is $883,530 in fees and $88,776 in revenue.
How does Kasu's TVL compare to similar protocols?
Among Uncollateralized Lending protocols tracked by DefiLlama, Kasu ranks #14 by TVL. The category holds $19.51m across 19 protocols, and Kasu accounts for <0.1% of that total. Other leading protocols include Accountable, Union Protocol, Credit Coop, Clearpool Lending, cSigma Finance, Clawloan, 3Jane Lending, Wildcat Protocol, Goldfinch, and Pareto Credit.
How much has been borrowed through Kasu?
As of Oct 20, 2026, Kasu has $12.77m in active loans.