Ask about Florence Finance
Logo of Florence FinanceFlorence Finance(FFM)
Total Value Locked$0

TVL by Chain

Ethereum$0

Arbitrum$0

Base$0

Key Metrics

Active Loans$61,638.6

Total Raised$3m

Sep 5, 2022$3mRound: SeedInvestors: Big Brain Holdings, Bixin Ventures, AscendEX, CoinIX Capital, Focus Labs, Lunatic Capital, Nothing Research, Newform Capital, Fox Ventures

Protocol Information

Florence is a DeFi platform that allows users to seamlessly integrate real-world (SME) yield into their cryptocurrency portfolio in the most transparent and sustainable way. By tokenizing real-world assets and collateral, Florence enables their composability within DeFi.

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Category:RWA

Sub Category: Private Credit

Audits:

Methodology

TVL: The Florin token (FLR) is minted whenever a new loan is funded and burned when a loan matures and is repaid. Since the Florin token is 1:1 redeemable for EUR the borrowed amount is denominated in the protocols treasuries EUR stablecoin of the respective chain. Consequently the total supply of Florin equals the amount borrowed through the protocol. To avoid double counting, the amount of FLR held in the bridge contract is subtracted from the total supply. View code on GitHub

Hacks

Date: Nov 30, 2023

Amount: $1.45m

Classification: Social Engineering

Technique: Address Poisoning

Chains: Ethereum

Language: Solidity

Target Type: DeFi Protocol

Competitors

Spiko ($2.635b)Centrifuge Protocol ($1.505b)Re ($352.89m)Midas RWA ($154.54m)Theo Network thBill ($59.95m)Tangible RWA ($42.37m)GAIB ($18.92m)OpenEden USDO ($16.14m)Dinari ($10.83m)Anzen V2 ($7.9m)

Frequently Asked Questions

What is Florence Finance's TVL?

Florence Finance currently has $0 in total value locked.

What chains does Florence Finance operate on?

Florence Finance operates on 3 chains: Ethereum, Arbitrum, and Base.

How does Florence Finance's TVL compare to similar protocols?

Among RWA protocols tracked by DefiLlama, Florence Finance ranks #140 by TVL. The category holds $27.778b across 167 protocols, and Florence Finance accounts for 0% of that total. Other leading protocols include Spiko, Centrifuge Protocol, Re, Midas RWA, Theo Network thBill, Tangible RWA, GAIB, OpenEden USDO, Dinari, and Anzen V2.

How much has been borrowed through Florence Finance?

Florence Finance currently has $61,638.6 in active loans.

Has Florence Finance ever been exploited?

Florence Finance has 1 recorded security incident. The most recent incident occurred on Nov 30, 2023 and involved $1.45m. It was classified as Social Engineering.