Ask about Surge Credit
Surge Credit
Total Value Locked$1.43m
TVL by Chain
Bitcoin$1.43m
Key Metrics
Fees 30d$3,547
Fees 30d by chain
Base$3,547
Fees 7d$929
Base$929
Fees 24h$198
Base$198
Cumulative Fees$17,233
Base$17,233
Revenue 30d$709.07
Revenue 30d by chain
Base$709.07
Revenue 7d$186.66
Base$186.66
Revenue 24h$39.27
Base$39.27
Cumulative Revenue$3,097
Base$3,097
Collateral Liquidated 30d$11,014
Collateral Liquidated 30d by chain
Base$11,014
Collateral Liquidated 7d$0
Base$0
Collateral Liquidated 24h$0
Base$0
Cumulative Collateral Liquidated$11,129
Base$11,129
Active Loans$512,187
Protocol Information
BTC-collateralized USDC lending. Users deposit native BTC into non-custodial Taproot vaults and borrow USDC on Base against it.
Audits:
Methodology
TVL: TVL is the native BTC collateral locked in per-loan non-custodial Taproot vaults, summed directly from the vault addresses on Bitcoin L1. Each vault address is derived deterministically from the borrower on-chain pubkey and served by the Surge indexer (Loan.btcVaultAddress). Borrowed is the outstanding USDC debt across all positions (the active credit), read from VaultManager.getTotals() on Base. Idle USDC lending liquidity is not counted in TVL.View code on GitHubFees: Borrow interest paid by borrowers on Bitcoin-collateralised USDC loans.View code on GitHubRevenue: Protocol reserve share of borrow interest (reserveRateBps), from the protocolCut field of the InterestAccrued event.View code on GitHubCollateral Liquidated: Total USD value of native BTC collateral seized from borrowers when a Surge liquidation auction is bought, read from the `collateralSats` field of AuctionHouse `LogAuctionBought` events on Base and priced as bitcoin.View code on GitHubCompetitors
Frequently Asked Questions
What is Surge Credit's TVL?
Surge Credit currently has $1.43m in total value locked. TVL has increased 23.8% over the past 30 days.
What chains does Surge Credit operate on?
Surge Credit operates on 2 chains: Bitcoin and Base. Bitcoin holds the largest share at 100%.
How much has Surge Credit generated in fees and revenue?
Over the past 30 days, Surge Credit generated $3,547 in fees. Of that, $709.07 was protocol revenue. Based on the trailing year, the annualized rate is $32,898 in fees and $5,905 in revenue.
How does Surge Credit's TVL compare to similar protocols?
Among Lending protocols tracked by DefiLlama, Surge Credit ranks #117 by TVL. The category holds $55.56b across 522 protocols, and Surge Credit accounts for <0.1% of that total. Other leading protocols include Yusan, Aave V3, Morpho Blue, Compound V3, Venus Core Pool, Fluid Lending, Euler V2, 40 Acres, Templar Protocol, and TermMax.
How much has been borrowed through Surge Credit?
Surge Credit currently has $512,187 in active loans.