Omni is a decentralized protocol with a foundation of providing lending and borrowing services for various assets on the Ethereum blockchain. Users can lend their NFTs and ERC-20 tokens to earn income in the form of interest. Additionally, users can use their lended assets as collateral for borrowing assets.
Forked from:AAVE V2
TVL: Counts the tokens locked in the contracts to be used as collateral to borrow or to earn yield. NFT's are counted as their floor price for both collateral and debt. 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