Ask about Notional · freeTotal Value Locked$859
TVL by Chain
Arbitrum$679
Ethereum$180
Key Metrics
Market Cap$194,676
$NOTE Price$0.0031
Fully Diluted Valuation$306,683
$NOTE Volume 24h$3.76
CEX Volume$0
DEX Volume$3.76(100% of total)
Treasury$0
Majors$0
Stablecoins$0
Own Tokens$0
Others$0
Total Raised$10m
Apr 29, 2021$10mRound: Series AInvestors: Pantera Capital, ParaFi Capital, 1Confirmation, The Spartan Group, Nascent, Nima Capital
Protocol Information
Fixed rate lending on Ethereum
- Notional V3Lending
- Notional ExponentLeveraged Farming
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Hacks
Date: Sep 4, 2026
Protocol: Notional V2
Amount: $1.73m
Classification: Token & Share Accounting
Technique: Arithmetic Error
Chains: Ethereum
Language: Solidity
Target Type: DeFi Protocol
Notional history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Mar 21, 2021 to Oct 19, 2026.
All-time high TVL: $976.16m on Nov 22, 2021. All-time low TVL: $779 on Nov 22, 2025.
Daily TVL, Sep 20, 2026 to Oct 19, 2026
| Date | TVL |
|---|---|
| Sep 20, 2026 | $903 |
| Sep 21, 2026 | $910 |
| Sep 22, 2026 | $930 |
| Sep 23, 2026 | $935 |
| Sep 24, 2026 | $916 |
| Sep 25, 2026 | $915 |
| Sep 26, 2026 | $919 |
| Sep 27, 2026 | $920 |
| Sep 28, 2026 | $909 |
| Sep 29, 2026 | $913 |
| Sep 30, 2026 | $913 |
| Oct 1, 2026 | $918 |
| Oct 2, 2026 | $922 |
| Oct 3, 2026 | $915 |
| Oct 4, 2026 | $918 |
| Oct 5, 2026 | $927 |
| Oct 6, 2026 | $925 |
| Oct 7, 2026 | $915 |
| Oct 8, 2026 | $891 |
| Oct 9, 2026 | $869 |
| Oct 10, 2026 | $873 |
| Oct 11, 2026 | $876 |
| Oct 12, 2026 | $885 |
| Oct 13, 2026 | $862 |
| Oct 14, 2026 | $877 |
| Oct 15, 2026 | $848 |
| Oct 16, 2026 | $861 |
| Oct 17, 2026 | $859 |
| Oct 18, 2026 | $855 |
| Oct 19, 2026 | $855 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $17.79m |
| Dec 31, 2024 | $14.96m |
| Jan 31, 2025 | $15.12m |
| Feb 28, 2025 | $10.46m |
| Mar 31, 2025 | $8.65m |
| Apr 30, 2025 | $5.62m |
| May 31, 2025 | $7.47m |
| Jun 30, 2025 | $6.91m |
| Jul 31, 2025 | $7.52m |
| Aug 31, 2025 | $8.53m |
| Sep 30, 2025 | $7.71m |
| Oct 31, 2025 | $6.24m |
| Nov 30, 2025 | $819 |
| Dec 31, 2025 | $811 |
| Jan 31, 2026 | $1.31m |
| Feb 28, 2026 | $1.04m |
| Mar 31, 2026 | $180,275 |
| Apr 30, 2026 | $491,098 |
| May 31, 2026 | $490,094 |
| Jun 30, 2026 | $2,489 |
| Jul 31, 2026 | $2,453 |
| Aug 31, 2026 | $2,471 |
| Sep 30, 2026 | $913 |
| Oct 19, 2026 (latest) | $855 |
TVL at each year end, Dec 31, 2021 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2021 | $530.05m |
| Dec 31, 2022 | $52.11m |
| Dec 31, 2023 | $23.23m |
| Dec 31, 2024 | $14.96m |
| Dec 31, 2025 | $811 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/notional
Frequently asked questions
What is Notional's TVL?
As of Oct 19, 2026, Notional has $859 in total value locked. TVL has decreased 4.8% over the past 30 days.
What chains does Notional operate on?
Notional operates on 2 chains: Ethereum and Arbitrum. Arbitrum holds the largest share at 79%.
What is the NOTE token price and valuation?
NOTE is currently trading at $0.0031. Its circulating market capitalization is $194,676, ranking it #5,403. Its fully diluted valuation is $306,683. Supply currently stands at 61.98m circulating, 97.65m total supply, 100m maximum supply.
How has NOTE performed recently?
NOTE is down 26.1% over the past 7 days and down 49.4% over the past 30 days. Its all-time high is $23.42, reached on Nov 19, 2021. The token is currently 100% below that level.
Which protocols are included in Notional?
Notional is a parent protocol whose tracked products include Notional V3 and Notional Exponent.
Does Notional have a treasury?
Notional has a tracked treasury currently valued at $0.
Has Notional ever been exploited?
Notional has 1 recorded security incident. The most recent incident occurred on Sep 4, 2026 and involved $1.73m. It was classified as Token & Share Accounting.