Ask about Mellow Protocol · freeTotal Value Locked$280.39m
TVL by Chain
Ethereum$277.99m
Rootstock$1.16m
Robinhood Chain$1.01m
Mezo$194,537
Monad$15,800
BSC$13,322
Polygon$6,173
Lisk$5,267
Base$223
Fraxtal$23
Polygon zkEVM$0
Key Metrics
Fees 30d$2.13m
Fees 30d by chain
Ethereum$1.85m
Lisk$262,442
BSC$15,072
Fraxtal$27
Monad$0
Fees 7d$472,470
Ethereum$472,470
BSC$0
Fraxtal$0
Lisk$0
Monad$0
Fees 24h$70,216
Ethereum$70,216
BSC$0
Fraxtal$0
Lisk$0
Monad$0
Cumulative Fees$10.63m
Ethereum$10.18m
Lisk$431,625
BSC$22,692
Monad$398
Fraxtal$27
Revenue 30d$142,186
Revenue 30d by chain
Ethereum$142,186
BSC$0
Fraxtal$0
Lisk$0
Monad$0
Revenue 7d$39,764
Ethereum$39,764
BSC$0
Fraxtal$0
Lisk$0
Monad$0
Revenue 24h$5,805
Ethereum$5,805
BSC$0
Fraxtal$0
Lisk$0
Monad$0
Cumulative Revenue$673,033
Ethereum$672,985
Monad$48
BSC$0
Fraxtal$0
Lisk$0
Total Raised$2.75m
Aug 25, 2022$2.75mRound: SeedInvestors: Robot Ventures, Arrington XRP Capital, ParaFi Capital, P2P Capital, Lemniscap, Focus Labs, Principle Ventures, Primitive Ventures, NEMO Ventures, Darren Lau, Daryl Lau, Santiago Roel Santos, Jamis Johnson, Igor Barinov, Ivangbi, Mariano Conti, Molly
Nov 5, 2025Round: Investors: Cyber Fund
Protocol Information
Mellow is yield vault infrastructure for institutions, neobanks, fintechs, and asset issuers, powering Lido Earn and bespoke vaults deployed under partner brands. Core Vaults are the current architecture for new deployments; Mellow Restaking and Mellow Yield track earlier products that remain live.
- Mellow CoreOnchain Capital Allocator
- Mellow RestakingLiquid Restaking
- Mellow YieldYield Aggregator
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Mellow Protocol history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Jul 29, 2022 to Oct 23, 2026.
All-time high TVL: $916.17m on Dec 7, 2024. All-time low TVL: $23 on Jul 29, 2022.
Daily TVL, Sep 24, 2026 to Oct 23, 2026
| Date | TVL |
|---|---|
| Sep 24, 2026 | $302.93m |
| Sep 25, 2026 | $306.18m |
| Sep 26, 2026 | $307.33m |
| Sep 27, 2026 | $307.42m |
| Sep 28, 2026 | $307.2m |
| Sep 29, 2026 | $307.48m |
| Sep 30, 2026 | $297.82m |
| Oct 1, 2026 | $301.11m |
| Oct 2, 2026 | $303.87m |
| Oct 3, 2026 | $300.15m |
| Oct 4, 2026 | $306.99m |
| Oct 5, 2026 | $305.5m |
| Oct 6, 2026 | $299.42m |
| Oct 7, 2026 | $297.9m |
| Oct 8, 2026 | $286.39m |
| Oct 9, 2026 | $280.05m |
| Oct 10, 2026 | $283.65m |
| Oct 11, 2026 | $285.16m |
| Oct 12, 2026 | $290.91m |
| Oct 13, 2026 | $279.36m |
| Oct 14, 2026 | $287.28m |
| Oct 15, 2026 | $279.29m |
| Oct 16, 2026 | $289.18m |
| Oct 17, 2026 | $286.71m |
| Oct 18, 2026 | $283.76m |
| Oct 19, 2026 | $283.04m |
| Oct 20, 2026 | $281.17m |
| Oct 21, 2026 | $286.98m |
| Oct 22, 2026 | $287.14m |
| Oct 23, 2026 | $277.62m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $834.31m |
| Dec 31, 2024 | $663.51m |
| Jan 31, 2025 | $440.97m |
| Feb 28, 2025 | $311.08m |
| Mar 31, 2025 | $225.8m |
| Apr 30, 2025 | $223.57m |
| May 31, 2025 | $332.93m |
| Jun 30, 2025 | $303.46m |
| Jul 31, 2025 | $469.29m |
| Aug 31, 2025 | $446.61m |
| Sep 30, 2025 | $404.83m |
| Oct 31, 2025 | $341.15m |
| Nov 30, 2025 | $235.28m |
| Dec 31, 2025 | $287.67m |
| Jan 31, 2026 | $269.65m |
| Feb 28, 2026 | $172.9m |
| Mar 31, 2026 | $470.04m |
| Apr 30, 2026 | $336.06m |
| May 31, 2026 | $150.05m |
| Jun 30, 2026 | $203.62m |
| Jul 31, 2026 | $216.55m |
| Aug 31, 2026 | $269.27m |
| Sep 30, 2026 | $297.82m |
| Oct 23, 2026 (latest) | $277.62m |
TVL at each year end, Dec 31, 2022 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2022 | $1.23m |
| Dec 31, 2023 | $332,693 |
| Dec 31, 2024 | $663.51m |
| Dec 31, 2025 | $287.67m |
Fees and revenue by UTC calendar month, Feb 2025 to Oct 2026
| Month | Fees | Revenue |
|---|---|---|
| Feb 2025 | $12,978 | $0 |
| Mar 2025 | $32,890 | $0 |
| Apr 2025 | $27,025 | $0 |
| May 2025 | $46,974 | $0 |
| Jun 2025 | $57,444 | $0 |
| Jul 2025 | $4,397 | $0 |
| Aug 2025 | $0 | $0 |
| Sep 2025 | $39,520 | $1 |
| Oct 2025 | $152,477 | $56 |
| Nov 2025 | $284,895 | $32,699 |
| Dec 2025 | $589,478 | $98,540 |
| Jan 2026 | $588,467 | $111,431 |
| Feb 2026 | $260,030 | $49,761 |
| Mar 2026 | $704,950 | $31,344 |
| Apr 2026 | $770,651 | $1,287 |
| May 2026 | $329,695 | $469 |
| Jun 2026 | $759,283 | $274.33 |
| Jul 2026 | $1.11m | $131,178 |
| Aug 2026 | $1.28m | $227 |
| Sep 2026 | $2.12m | $97,950 |
| Oct 2026 (to date) | $1.46m | $117,815 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/mellow-protocol
Frequently asked questions
What is Mellow Protocol's TVL?
As of Oct 23, 2026, Mellow Protocol has $280.39m in total value locked. TVL has decreased 9% over the past 30 days.
What chains does Mellow Protocol operate on?
Mellow Protocol operates on 11 chains: Ethereum, Polygon, Base, Polygon zkEVM, and BSC and 6 others. Ethereum holds the largest share at 99.1%.
How much has Mellow Protocol generated in fees and revenue?
Over the past 30 days, Mellow Protocol generated $2.13m in fees. Of that, $142,186 was protocol revenue. Based on the trailing year, the annualized rate is $10.24m in fees and $669,019 in revenue.
Which protocols are included in Mellow Protocol?
Mellow Protocol is a parent protocol whose tracked products include Mellow Core, Mellow Restaking, and Mellow Yield.