Ask about PWN · freeTotal Value Locked$21,751
TVL by Chain
Polygon$20,697
Ethereum$592.24
Arbitrum$396.83
Unichain$25.13
Base$19.35
OP Mainnet$17.96
Gnosis$1.63
Cronos$0.28
Linea$0.024
BSC$0.0005
World Chain$0
Mantle$0
Key Metrics
Total Raised$2m
Jun 28, 2023$2mRound: SeedInvestors: StarkWare, Nethermind, Safe Ecosystem Foundation, Dialectic, Next Web Capital, F.actor, Patricio Worthalter, Christopher Jentzsch, Danny Ryan, Tim Beiko, Alex van de Sande, Lefteris Karapetsas, Luis Cuende, Anthony Sassano, Eric Conner, Digital Finance Group, IQTEC
Protocol Information
PWN is a peer-to-peer permissionless lending protocol. In the true spirit of DeFi composability, PWN users can borrow against—or lend using—any asset in their wallet (ERC-20, NFT, and even a bundle of both), while enjoying absolute flexibility on the loan terms (LTV, duration, APY, etc.). The oracle-less nature of the protocol protects all PWN loans from price-based liquidations. The only way to lose collateral is to default on a loan. Operating on seven EVM-compatible networks, PWN opens up new liquidity avenues, composability options, and leverage opportunities, while giving its users both optimized capital efficiency and predictability on both sides of the loan. A win on all fronts.
Audits:
Methodology
TVL: Sums up all the tokens deposited in the PWN Protocol. NFTs are resolved to their floor price using Chainlink price feeds. Note that NFTs are resolved only on Ethereum.View code on GitHubCompetitors
PWN history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Aug 14, 2023 to Oct 22, 2026.
All-time high TVL: $199,663 on Jul 22, 2025. All-time low TVL: $3,225 on Jun 21, 2024.
Daily TVL, Sep 23, 2026 to Oct 22, 2026
| Date | TVL |
|---|---|
| Sep 23, 2026 | $23,449 |
| Sep 24, 2026 | $23,074 |
| Sep 25, 2026 | $23,051 |
| Sep 26, 2026 | $23,119 |
| Sep 27, 2026 | $23,114 |
| Sep 28, 2026 | $22,943 |
| Sep 29, 2026 | $22,971 |
| Sep 30, 2026 | $23,014 |
| Oct 1, 2026 | $23,101 |
| Oct 2, 2026 | $23,207 |
| Oct 3, 2026 | $23,064 |
| Oct 4, 2026 | $23,094 |
| Oct 5, 2026 | $23,278 |
| Oct 6, 2026 | $23,191 |
| Oct 7, 2026 | $23,140 |
| Oct 8, 2026 | $22,570 |
| Oct 9, 2026 | $22,171 |
| Oct 10, 2026 | $22,220 |
| Oct 11, 2026 | $22,304 |
| Oct 12, 2026 | $22,435 |
| Oct 13, 2026 | $22,287 |
| Oct 14, 2026 | $22,278 |
| Oct 15, 2026 | $21,892 |
| Oct 16, 2026 | $21,956 |
| Oct 17, 2026 | $21,925 |
| Oct 18, 2026 | $21,819 |
| Oct 19, 2026 | $21,930 |
| Oct 20, 2026 | $21,812 |
| Oct 21, 2026 | $21,991 |
| Oct 22, 2026 | $22,191 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $87,200 |
| Dec 31, 2024 | $94,090 |
| Jan 31, 2025 | $144,728 |
| Feb 28, 2025 | $63,088 |
| Mar 31, 2025 | $56,031 |
| Apr 30, 2025 | $60,114 |
| May 31, 2025 | $45,581 |
| Jun 30, 2025 | $43,741 |
| Jul 31, 2025 | $197,848 |
| Aug 31, 2025 | $54,614 |
| Sep 30, 2025 | $51,679 |
| Oct 31, 2025 | $46,086 |
| Nov 30, 2025 | $37,264 |
| Dec 31, 2025 | $36,024 |
| Jan 31, 2026 | $32,473 |
| Feb 28, 2026 | $26,303 |
| Mar 31, 2026 | $26,865 |
| Apr 30, 2026 | $28,740 |
| May 31, 2026 | $26,459 |
| Jun 30, 2026 | $22,694 |
| Jul 31, 2026 | $23,910 |
| Aug 31, 2026 | $22,774 |
| Sep 30, 2026 | $23,014 |
| Oct 22, 2026 (latest) | $22,191 |
TVL at each year end, Dec 31, 2023 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2023 | $11,215 |
| Dec 31, 2024 | $94,090 |
| Dec 31, 2025 | $36,024 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/pwn
Frequently asked questions
What is PWN's TVL?
As of Oct 22, 2026, PWN has $21,751 in total value locked. TVL has decreased 6.8% over the past 30 days.
What chains does PWN operate on?
PWN operates on 12 chains: Polygon, Ethereum, Arbitrum, Unichain, and Base and 7 others. Polygon holds the largest share at 95.2%.
How does PWN's TVL compare to similar protocols?
Among Lending protocols tracked by DefiLlama, PWN ranks #284 by TVL. The category holds $52.509b across 518 protocols, and PWN accounts for <0.1% of that total. Similar protocols include Morpho Blue, Aave V3, Compound V3, Ajna V2, Euler V2, Tarot, Impermax V2, Venus Core Pool, Unitus, and OmniBTC.