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PaperDAO(PPR)Deprecated protocol

Protocol Information

PaperDAO is the leading ETHW Lending Market & $USW Stablecoin Minter on EthereumPoW.

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Category:Lending

Audits:

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 GitHub

PaperDAO history

TVL is the default DefiLlama definition. Daily values are UTC snapshots from Oct 27, 2022 to Jun 11, 2025.

All-time high TVL: $9,791 on Oct 31, 2022. All-time low TVL: $12 on May 9, 2023.

Daily TVL, Aug 18, 2024 to Jun 11, 2025

DateTVL
Aug 18, 2024$16
Aug 19, 2024$16
Aug 20, 2024$0
Aug 21, 2024$16
Aug 22, 2024$0
Aug 23, 2024$16
Aug 24, 2024$18
Aug 25, 2024$18
Aug 26, 2024$18
Aug 27, 2024$17
Aug 28, 2024$0
Aug 29, 2024$15
Aug 30, 2024$15
Aug 31, 2024$0
Sep 1, 2024$0
Sep 2, 2024$0
Sep 3, 2024$14
Sep 4, 2024$13
Sep 5, 2024$13
Sep 6, 2024$0
Sep 7, 2024$12
Sep 8, 2024$13
Sep 9, 2024$13
Sep 10, 2024$14
Sep 11, 2024$0
Sep 12, 2024$0
Jun 6, 2025$0
Jun 7, 2025$0
Jun 8, 2025$0
Jun 11, 2025$0

TVL at each month end, Nov 2022 to Jun 2025

DateTVL
Nov 30, 2022$1,806
Dec 31, 2022$1,178
Jan 31, 2023$1,789
Feb 28, 2023$1,118
Mar 31, 2023$529
Apr 30, 2023$443
May 31, 2023$0
Jun 30, 2023$0
Jul 31, 2023$169
Aug 31, 2023$85
Sep 30, 2023$82
Oct 31, 2023$82
Nov 30, 2023$190
Dec 31, 2023$73
Jan 31, 2024$66
Feb 29, 2024$85
Mar 31, 2024$127
Apr 30, 2024$64
May 31, 2024$49
Jun 30, 2024$27
Jul 31, 2024$27
Aug 31, 2024$0
Sep 12, 2024$0
Jun 11, 2025 (latest)$0

TVL at each year end, Dec 31, 2022 to Sep 12, 2024

DateTVL
Dec 31, 2022$1,178
Dec 31, 2023$73
Sep 12, 2024$0

The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/paperdao

Frequently asked questions

What is PaperDAO's TVL?

As of Jun 11, 2025, PaperDAO has $0 in total value locked.

What chains does PaperDAO operate on?

PaperDAO operates on EthereumPoW.