Total Value Locked$15,957.32
TVL by Chain
Merlin$15,957.32
Key Metrics
Active Loans$360.88
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
Frequently Asked Questions
What is Mage Finance?
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.
What is Mage Finance's TVL?
Mage Finance currently has $15,957.32 in total value locked. TVL has decreased 18.6% 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 #316 by TVL. The category holds $46.872b across 514 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, Venus Core Pool, Kamino Lend, and Jupiter Lend.
How much has been borrowed through Mage Finance?
Mage Finance currently has $360.88 in active loans.