Ask about Mage Finance · freeMage Finance
Total Value Locked$666.25
TVL by Chain
Merlin$666.25
The chart plots Active Loans as its own series; it is not part of the TVL above.
Key Metrics
Active Loans$0
Protocol Information
Mage Protocol is the world's first money market built on Bitcoin's L2 scaling solution. Leveraging MerlinChain's ZK-rollup technology, Mage Protocol seamlessly enables users to lend, borrow, and earn, transforming idle Bitcoin assets into dynamic financial opportunities with unparalleled efficiency and security.
Methodology
TVL: Counts the tokens locked in the contracts to be used as collateral to borrow or to earn yield. Borrowed coins are not counted towards the TVL, so only the coins actually locked in the contracts are counted. There's multiple reasons behind this but one of the main ones is to avoid inflating the TVL through cycled lending.View code on GitHubCompetitors
Mage Finance history
TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Apr 15, 2024 to Oct 19, 2026.
All-time high TVL: $86.78m on Apr 23, 2024. All-time low TVL: $5 on Oct 19, 2026.
Daily TVL, Sep 20, 2026 to Oct 19, 2026
| Date | TVL |
|---|---|
| Sep 20, 2026 | $213 |
| Sep 21, 2026 | $990 |
| Sep 22, 2026 | $952 |
| Sep 23, 2026 | $987 |
| Sep 24, 2026 | $978 |
| Sep 25, 2026 | $956 |
| Sep 26, 2026 | $978 |
| Sep 27, 2026 | $951 |
| Sep 28, 2026 | $212 |
| Sep 29, 2026 | $211 |
| Sep 30, 2026 | $933 |
| Oct 1, 2026 | $215 |
| Oct 2, 2026 | $1,016 |
| Oct 3, 2026 | $950 |
| Oct 4, 2026 | $1,028 |
| Oct 5, 2026 | $1,042 |
| Oct 6, 2026 | $1,021 |
| Oct 7, 2026 | $1,379 |
| Oct 8, 2026 | $804 |
| Oct 9, 2026 | $776 |
| Oct 10, 2026 | $771 |
| Oct 11, 2026 | $812 |
| Oct 12, 2026 | $786 |
| Oct 13, 2026 | $769 |
| Oct 14, 2026 | $712 |
| Oct 15, 2026 | $666 |
| Oct 16, 2026 | $668 |
| Oct 17, 2026 | $664 |
| Oct 18, 2026 | $642 |
| Oct 19, 2026 | $5 |
TVL at each month end, Sep 2024 to Oct 2026
| Date | TVL |
|---|---|
| Sep 30, 2024 | $224,457 |
| Oct 31, 2024 | $150,679 |
| Nov 30, 2024 | $161,746 |
| Dec 31, 2024 | $120,134 |
| Jan 31, 2025 | $100,014 |
| Feb 28, 2025 | $77,662 |
| Mar 31, 2025 | $73,296 |
| Apr 30, 2025 | $79,552 |
| May 31, 2025 | $69,893 |
| Jun 30, 2025 | $32,954 |
| Jul 31, 2025 | $36,492 |
| Aug 31, 2025 | $32,750 |
| Sep 30, 2025 | $48,978 |
| Oct 31, 2025 | $48,109 |
| Nov 30, 2025 | $44,455 |
| Dec 31, 2025 | $41,888 |
| Jan 31, 2026 | $22,934 |
| Feb 28, 2026 | $17,624 |
| Mar 31, 2026 | $16,948 |
| Apr 30, 2026 | $20,227 |
| May 31, 2026 | $18,324 |
| Jun 22, 2026 | $15,957 |
| Sep 30, 2026 | $933 |
| Oct 19, 2026 (latest) | $5 |
TVL at each year end, Dec 31, 2024 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2024 | $120,134 |
| Dec 31, 2025 | $41,888 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/mage-finance
Frequently asked questions
What is Mage Finance's TVL?
As of Oct 19, 2026, Mage Finance has $666.25 in total value locked. TVL has decreased 32.1% over the past 30 days.
What chains does Mage Finance operate on?
Mage Finance operates on Merlin. Merlin holds the largest share at 100%.
How does Mage Finance's TVL compare to similar protocols?
Among Lending protocols tracked by DefiLlama, Mage Finance ranks #396 by TVL. The category holds $51.347b across 515 protocols, and Mage Finance accounts for <0.1% of that total. Other leading protocols include Avalon Finance, Aave V3, Morpho Blue, SparkLend, JustLend V1, Maple, Compound V3, Kamino Lend, Venus Core Pool, and Jupiter Lend.
How much has been borrowed through Mage Finance?
As of Oct 19, 2026, Mage Finance has $0 in active loans.