Ask about Interest Protocol · freeInterest Protocol(USDI)
Total Value Locked$1.43m
TVL by Chain
Ethereum$1.43m
OP Mainnet$354.07
Protocol Information
Interest Protocol is a borrow/lend protocol that is highly capital-efficient thanks to its unique combination of fractional reserves and over-collateralization. Depositors may mint USDi, which is a stablecoin pegged 1-1 with USDC that automatically pays interest to holders via rebasing.
Audits:
Methodology
TVL: Counts the tokens locked in the contracts to be used as collateral to borrow or to earn yield. Borrowed coins are not counted towards the TVL, so only the coins actually locked in the contracts are counted. There's multiple reasons behind this but one of the main ones is to avoid inflating the TVL through cycled lending.. For Interest Protocol, TVL is USDC Reserve + Total Deposited Collateral Value Reserve is the amount of USDC held by the USDI contract Balances are found through VaultController.vaultSummaries(1,VaultController.vaultsMinted()) Capped tokens converted 1:1 to underlying Wrapped Uni V3 Positions as implemented report their values to Interest Protocol in USD terms * 1e18, as such, they are currently listed as DAI in the TVL calculation, therefore DAI numbers in the TVL should be treated as Uniswap V3 position collateral value, as DAI is not otherwise listed on IP. View code on GitHubCompetitors
Interest Protocol history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Jun 11, 2022 to Oct 27, 2026.
All-time high TVL: $12.98m on Jul 6, 2022. All-time low TVL: $499 on Jun 11, 2022.
Daily TVL, Sep 28, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| Sep 28, 2026 | $1.78m |
| Sep 29, 2026 | $1.73m |
| Sep 30, 2026 | $1.79m |
| Oct 1, 2026 | $1.71m |
| Oct 2, 2026 | $1.81m |
| Oct 3, 2026 | $1.93m |
| Oct 4, 2026 | $1.94m |
| Oct 5, 2026 | $2.12m |
| Oct 6, 2026 | $1.94m |
| Oct 7, 2026 | $1.96m |
| Oct 8, 2026 | $1.75m |
| Oct 9, 2026 | $1.69m |
| Oct 10, 2026 | $1.66m |
| Oct 11, 2026 | $1.7m |
| Oct 12, 2026 | $1.78m |
| Oct 13, 2026 | $1.65m |
| Oct 14, 2026 | $1.68m |
| Oct 15, 2026 | $1.56m |
| Oct 16, 2026 | $1.57m |
| Oct 17, 2026 | $1.55m |
| Oct 18, 2026 | $1.54m |
| Oct 19, 2026 | $1.52m |
| Oct 20, 2026 | $1.54m |
| Oct 21, 2026 | $1.65m |
| Oct 22, 2026 | $1.66m |
| Oct 23, 2026 | $1.6m |
| Oct 24, 2026 | $1.56m |
| Oct 25, 2026 | $1.53m |
| Oct 26, 2026 | $1.5m |
| Oct 27, 2026 | $1.49m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $208,309 |
| Dec 31, 2024 | $182,371 |
| Jan 31, 2025 | $141,940 |
| Feb 28, 2025 | $83,397 |
| Mar 31, 2025 | $108,059 |
| Apr 30, 2025 | $107,871 |
| May 31, 2025 | $97,876 |
| Jun 30, 2025 | $101,975 |
| Jul 31, 2025 | $111,893 |
| Aug 31, 2025 | $96,435 |
| Sep 30, 2025 | $97,860 |
| Oct 31, 2025 | $90,948 |
| Nov 30, 2025 | $83,925 |
| Dec 31, 2025 | $78,792 |
| Jan 31, 2026 | $78,440 |
| Feb 28, 2026 | $75,070 |
| Mar 31, 2026 | $4,799 |
| Apr 30, 2026 | $5,130 |
| May 31, 2026 | $1.45m |
| Jun 30, 2026 | $1.17m |
| Jul 31, 2026 | $1.27m |
| Aug 31, 2026 | $1.53m |
| Sep 30, 2026 | $1.79m |
| Oct 27, 2026 (latest) | $1.49m |
TVL at each year end, Dec 31, 2022 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2022 | $582,823 |
| Dec 31, 2023 | $156,797 |
| Dec 31, 2024 | $182,371 |
| Dec 31, 2025 | $78,792 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/interest-protocol
Frequently asked questions
What is Interest Protocol's TVL?
As of Oct 27, 2026, Interest Protocol has $1.43m in total value locked. TVL has decreased 15.2% over the past 30 days.
What chains does Interest Protocol operate on?
Interest Protocol operates on 2 chains: Ethereum and OP Mainnet. Ethereum holds the largest share at 100%.
How does Interest Protocol's TVL compare to similar protocols?
Among CDP protocols tracked by DefiLlama, Interest Protocol ranks #34 by TVL. The category holds $7.333b across 200 protocols, and Interest Protocol accounts for <0.1% of that total. Similar protocols include Reservoir Protocol, Abracadabra Spell, QiDao, Angle, Gravita Protocol, Davos Protocol, Deaderal Reserve Protocol, Sky Lending, USDD, and Liquity V1.