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Logo of Surge CreditSurge Credit
Total Value Locked$724,685.58

TVL by Chain

Bitcoin$724,685.58

Key Metrics

Fees (Annualized)$27,816.14
Fees 30d$4,020.53

Base$4,020.53

Fees 7d$1,057

Base$1,057

Fees 24h$97

Base$97

Cumulative Fees$9,927.91

Base$9,927.91

Revenue (Annualized)$4,580.86
Revenue 30d$803.77

Base$803.77

Revenue 7d$210.85

Base$210.85

Revenue 24h$19.34

Base$19.34

Cumulative Revenue$1,638.33

Base$1,638.33

Active Loans$356,383.54

Protocol Information

BTC-collateralized USDC lending. Users deposit native BTC into non-custodial Taproot vaults and borrow USDC on Base against it.

Category:Lending

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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 portion of borrow interest, as emitted by the InterestAccrued event on the LiquidityPool.View code on GitHub

Competitors

Yusan ($60,793.96)Aave V3 ($13.691b)Morpho Blue ($7.481b)Compound V3 ($1.108b)Venus Core Pool ($1.025b)Fluid Lending ($656.66m)Euler V2 ($340.56m)Moonwell Lending ($43.1m)Native Credit Pool ($39.3m)TermMax ($32.73m)

Frequently Asked Questions

What is Surge Credit?

BTC-collateralized USDC lending. Users deposit native BTC into non-custodial Taproot vaults and borrow USDC on Base against it.

What is Surge Credit's TVL?

Surge Credit currently has $724,685.58 in total value locked.

What chains does Surge Credit operate on?

Surge Credit operates on 2 chains: Base and Bitcoin. 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 $4,020.53 in fees. Of that, $803.77 was protocol revenue. Based on the trailing year, the annualized rate is $27,816.14 in fees and $4,580.86 in revenue.

How does Surge Credit's TVL compare to similar protocols?

Among Lending protocols tracked by DefiLlama, Surge Credit ranks #126 by TVL. The category holds $39.804b across 466 protocols, and Surge Credit accounts for <0.1% of that total. Other leading protocols include Aave, Morpho, and Spark.

How much has been borrowed through Surge Credit?

Surge Credit currently has $356,383.54 in active loans.