Ask about Surge Credit · freeTotal Value Locked$1.7m
TVL by Chain
Bitcoin$1.7m
Key Metrics
Fees 30d$4,561
Fees 30d by chain
Base$4,561
Fees 7d$1,212
Base$1,212
Fees 24h$149
Base$149
Cumulative Fees$20,969
Base$20,969
Revenue 30d$913.17
Revenue 30d by chain
Base$913.17
Revenue 7d$242.17
Base$242.17
Revenue 24h$29.91
Base$29.91
Cumulative Revenue$3,845
Base$3,845
Collateral Liquidated 30d$0
Collateral Liquidated 30d by chain
Base$0
Collateral Liquidated 7d$0
Base$0
Collateral Liquidated 24h$0
Base$0
Cumulative Collateral Liquidated$11,129
Base$11,129
Active Loans$659,615
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
Surge Credit history
TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Jul 29, 2026 to Oct 28, 2026.
All-time high TVL: $1.78m on Oct 25, 2026. All-time low TVL: $726,244 on Aug 2, 2026.
Daily TVL, Sep 29, 2026 to Oct 28, 2026
| Date | TVL |
|---|---|
| Sep 29, 2026 | $1.38m |
| Sep 30, 2026 | $1.38m |
| Oct 1, 2026 | $1.38m |
| Oct 2, 2026 | $1.41m |
| Oct 3, 2026 | $1.4m |
| Oct 4, 2026 | $1.41m |
| Oct 5, 2026 | $1.42m |
| Oct 6, 2026 | $1.41m |
| Oct 7, 2026 | $1.41m |
| Oct 8, 2026 | $1.37m |
| Oct 9, 2026 | $1.36m |
| Oct 10, 2026 | $1.37m |
| Oct 11, 2026 | $1.38m |
| Oct 12, 2026 | $1.39m |
| Oct 13, 2026 | $1.35m |
| Oct 14, 2026 | $1.38m |
| Oct 15, 2026 | $1.36m |
| Oct 16, 2026 | $1.37m |
| Oct 17, 2026 | $1.36m |
| Oct 18, 2026 | $1.36m |
| Oct 19, 2026 | $1.41m |
| Oct 20, 2026 | $1.4m |
| Oct 21, 2026 | $1.5m |
| Oct 22, 2026 | $1.51m |
| Oct 23, 2026 | $1.47m |
| Oct 24, 2026 | $1.46m |
| Oct 25, 2026 | $1.78m |
| Oct 26, 2026 | $1.76m |
| Oct 27, 2026 | $1.77m |
| Oct 28, 2026 | $1.7m |
TVL at each month end, Jul 2026 to Oct 2026
| Date | TVL |
|---|---|
| Jul 31, 2026 | $739,574 |
| Aug 31, 2026 | $1.16m |
| Sep 30, 2026 | $1.38m |
| Oct 28, 2026 (latest) | $1.7m |
Fees and revenue by UTC calendar month, Mar 2026 to Oct 2026
| Month | Fees | Revenue |
|---|---|---|
| Mar 2026 | $7.23 | $0.80 |
| Apr 2026 | $783.29 | $86.24 |
| May 2026 | $1,998 | $219.91 |
| Jun 2026 | $2,609 | $425.11 |
| Jul 2026 | $3,986 | $797.36 |
| Aug 2026 | $4,013 | $801.01 |
| Sep 2026 | $3,503 | $700.07 |
| Oct 2026 (to date) | $4,219 | $844.79 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/surge-credit
Frequently asked questions
What is Surge Credit's TVL?
As of Oct 28, 2026, Surge Credit has $1.7m in total value locked. TVL has increased 21% 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 $4,561 in fees. Of that, $913.17 was protocol revenue. Based on the trailing year, the annualized rate is $35,598 in fees and $6,528 in revenue.
How does Surge Credit's TVL compare to similar protocols?
Among Lending protocols tracked by DefiLlama, Surge Credit ranks #111 by TVL. The category holds $52.408b across 518 protocols, and Surge Credit accounts for <0.1% of that total. Similar protocols include Aave V3, Morpho Blue, Maple, Compound V3, Venus Core Pool, Aave V4, Fluid Lending, Euler V2, Morpho Midnight, and Templar Protocol.
How much has been borrowed through Surge Credit?
As of Oct 28, 2026, Surge Credit has $659,615 in active loans.