Total Value Locked$92.66m
TVL by Chain
Ethereum$92.66m
Key Metrics
Fees 30d$181,236
Fees 30d by chain
Ethereum$181,236
Fees 7d$44,053
Ethereum$44,053
Fees 24h$6,984
Ethereum$6,984
Cumulative Fees$3.17m
Ethereum$3.17m
Revenue 30d$28,888
Revenue 30d by chain
Ethereum$28,888
Revenue 7d$6,740
Ethereum$6,740
Revenue 24h$981
Ethereum$981
Cumulative Revenue$675,585
Ethereum$675,585
Collateral Liquidated 30d$0
Collateral Liquidated 30d by chain
Ethereum$0
Collateral Liquidated 7d$0
Ethereum$0
Collateral Liquidated 24h$0
Ethereum$0
Cumulative Collateral Liquidated$0
Ethereum$0
Protocol Information
Liquity V2 is a decentralized and immutable borrowing protocol that allows you to set your own interest rate and draw loans against ETH, wstETH and rETH.
Audits:
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Total interest, redemption fees paid by borrowers and liquidation gas compensate.View code on GitHubRevenue: 25% of borrow interests are collected as protocol liquidity incentives.View code on GitHubCollateral Liquidated: Collateral seized from liquidated troves (sent to the stability pool, redistributed to other troves, and paid as gas compensation), excluding any surplus returned to the borrower, from TroveManager Liquidation events.View code on GitHubYields
Pools Tracked3
Average Supply APY4.53%
Competitors
Liquity V2 history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Jan 23, 2025 to Oct 27, 2026.
All-time high TVL: $180.03m on Oct 7, 2025. All-time low TVL: $3.52m on Jan 23, 2025.
Daily TVL, Sep 28, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| Sep 28, 2026 | $104.89m |
| Sep 29, 2026 | $105m |
| Sep 30, 2026 | $105.11m |
| Oct 1, 2026 | $107.08m |
| Oct 2, 2026 | $107.84m |
| Oct 3, 2026 | $106.79m |
| Oct 4, 2026 | $107.54m |
| Oct 5, 2026 | $109m |
| Oct 6, 2026 | $108.59m |
| Oct 7, 2026 | $107.99m |
| Oct 8, 2026 | $102.77m |
| Oct 9, 2026 | $98.21m |
| Oct 10, 2026 | $98.29m |
| Oct 11, 2026 | $98.83m |
| Oct 12, 2026 | $100.58m |
| Oct 13, 2026 | $95.94m |
| Oct 14, 2026 | $99.17m |
| Oct 15, 2026 | $95.87m |
| Oct 16, 2026 | $96.66m |
| Oct 17, 2026 | $96.2m |
| Oct 18, 2026 | $95.71m |
| Oct 19, 2026 | $95.81m |
| Oct 20, 2026 | $95.18m |
| Oct 21, 2026 | $97.29m |
| Oct 22, 2026 | $98.48m |
| Oct 23, 2026 | $95.33m |
| Oct 24, 2026 | $94.65m |
| Oct 25, 2026 | $93.12m |
| Oct 26, 2026 | $92.65m |
| Oct 27, 2026 | $92.91m |
TVL at each month end, Jan 2025 to Oct 2026
| Date | TVL |
|---|---|
| Jan 31, 2025 | $41.68m |
| Feb 28, 2025 | $25.22m |
| Mar 31, 2025 | $13.11m |
| Apr 30, 2025 | $8.45m |
| May 31, 2025 | $70.02m |
| Jun 30, 2025 | $105.33m |
| Jul 31, 2025 | $140.4m |
| Aug 31, 2025 | $164.14m |
| Sep 30, 2025 | $159.16m |
| Oct 31, 2025 | $149.54m |
| Nov 30, 2025 | $133.14m |
| Dec 31, 2025 | $126.26m |
| Jan 31, 2026 | $108.53m |
| Feb 28, 2026 | $84.86m |
| Mar 31, 2026 | $89.36m |
| Apr 30, 2026 | $106.85m |
| May 31, 2026 | $79.02m |
| Jun 30, 2026 | $68.8m |
| Jul 31, 2026 | $72.5m |
| Aug 31, 2026 | $90.47m |
| Sep 30, 2026 | $105.11m |
| Oct 27, 2026 (latest) | $92.91m |
Fees and revenue by UTC calendar month, Jan 2025 to Oct 2026
| Month | Fees | Revenue |
|---|---|---|
| Jan 2025 | $61,682 | $15,420 |
| Feb 2025 | $125,194 | $25,406 |
| Mar 2025 | $32,224 | $5,696 |
| Apr 2025 | $10,951 | $2,228 |
| May 2025 | $28,849 | $6,392 |
| Jun 2025 | $190,527 | $36,268 |
| Jul 2025 | $198,857 | $43,955 |
| Aug 2025 | $208,523 | $40,420 |
| Sep 2025 | $228,695 | $52,650 |
| Oct 2025 | $223,212 | $50,581 |
| Nov 2025 | $169,248 | $39,836 |
| Dec 2025 | $205,436 | $43,562 |
| Jan 2026 | $152,400 | $35,600 |
| Feb 2026 | $176,397 | $39,289 |
| Mar 2026 | $84,893 | $17,282 |
| Apr 2026 | $138,787 | $33,167 |
| May 2026 | $54,506 | $12,343 |
| Jun 2026 | $194,030 | $36,253 |
| Jul 2026 | $191,189 | $45,402 |
| Aug 2026 | $188,634 | $43,371 |
| Sep 2026 | $150,455 | $25,656 |
| Oct 2026 (to date) | $166,525 | $25,789 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/liquity-v2
Frequently asked questions
What is Liquity V2's TVL?
As of Oct 27, 2026, Liquity V2 has $92.66m in total value locked. TVL has decreased 11.8% over the past 30 days.
What chains does Liquity V2 operate on?
Liquity V2 operates on Ethereum. Ethereum holds the largest share at 100%.
How much has Liquity V2 generated in fees and revenue?
Over the past 30 days, Liquity V2 generated $181,236 in fees. Of that, $28,888 was protocol revenue. Based on the trailing year, the annualized rate is $1.9m in fees and $404,515 in revenue.
How does Liquity V2's TVL compare to similar protocols?
Among CDP protocols tracked by DefiLlama, Liquity V2 ranks #5 by TVL. The category holds $7.385b across 200 protocols, and Liquity V2 accounts for 1.3% of that total. Similar protocols include Sky Lending, USDD, Liquity V1, crvUSD, Reservoir Protocol, Frankencoin, Inverse Finance FiRM, BIMA CDP, Inverse Finance Frontier, and mStable V2.
How many yield pools does Liquity V2 have?
DefiLlama tracks 3 Liquity V2 yield pools with an average APY of 4.5%.