Ask about SUBFROST · freeProtocol Information
SUBFROST is a decentralized signing network that issues frBTC and frUSD, trust-minimized assets which power the ultimate UX on Bitcoin L1. SUBFROST's portfolio of apps deliver this UX directly to end-users, and its API products enable developers to build the next generation of advanced crypto applications.
Methodology
TVL: Total value of the collateral held by the transparent and verifiable SUBFROST signing group. On bitcoin, all BTC backing frBTC across both deployments, Alkanes and BRC2.0. On ethereum, the collateral backing frUSD: the USDC and USDT held in the frUSD vault, plus the Curve 3pool position the vault deploys its stablecoins into. The frBTC and frUSD minted against these deposits are not counted separately. Note that the 3CRV portion is also part of Curve's own TVL.View code on GitHubCompetitors
SUBFROST history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Jul 29, 2026 to Oct 23, 2026.
All-time high TVL: $10.51m on Oct 2, 2026. All-time low TVL: $6.8m on Aug 2, 2026.
Daily TVL, Sep 24, 2026 to Oct 23, 2026
| Date | TVL |
|---|---|
| Sep 24, 2026 | $9.14m |
| Sep 25, 2026 | $10.44m |
| Sep 26, 2026 | $10.38m |
| Sep 27, 2026 | $10.42m |
| Sep 28, 2026 | $10.4m |
| Sep 29, 2026 | $10.26m |
| Sep 30, 2026 | $10.29m |
| Oct 1, 2026 | $10.38m |
| Oct 2, 2026 | $10.51m |
| Oct 3, 2026 | $10.45m |
| Oct 4, 2026 | $9.17m |
| Oct 5, 2026 | $9.31m |
| Oct 6, 2026 | $9.24m |
| Oct 7, 2026 | $9.17m |
| Oct 8, 2026 | $8.93m |
| Oct 9, 2026 | $8.69m |
| Oct 10, 2026 | $8.85m |
| Oct 11, 2026 | $9m |
| Oct 12, 2026 | $9.08m |
| Oct 13, 2026 | $8.88m |
| Oct 14, 2026 | $9.09m |
| Oct 15, 2026 | $8.92m |
| Oct 16, 2026 | $8.97m |
| Oct 17, 2026 | $8.89m |
| Oct 18, 2026 | $8.9m |
| Oct 19, 2026 | $9.02m |
| Oct 20, 2026 | $8.95m |
| Oct 21, 2026 | $9.15m |
| Oct 22, 2026 | $9.27m |
| Oct 23, 2026 | $8.97m |
TVL at each month end, Jul 2026 to Oct 2026
| Date | TVL |
|---|---|
| Jul 31, 2026 | $7.06m |
| Aug 31, 2026 | $8.16m |
| Sep 30, 2026 | $10.29m |
| Oct 23, 2026 (latest) | $8.97m |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/subfrost
Frequently asked questions
What is SUBFROST's TVL?
As of Oct 23, 2026, SUBFROST has $9.02m in total value locked. TVL has decreased 3.8% over the past 30 days.
What chains does SUBFROST operate on?
SUBFROST operates on 2 chains: Bitcoin and Ethereum. Bitcoin holds the largest share at 99.4%.
How does SUBFROST's TVL compare to similar protocols?
Among Decentralized BTC protocols tracked by DefiLlama, SUBFROST ranks #3 by TVL. The category holds $383.56m across 6 protocols, and SUBFROST accounts for 2.4% of that total. Similar protocols include tBTC, Chain Fusion, BitSafe CBTC, Zeus Network, and iBTC Network.