Ask about Tangent Finance · freeTotal Value Locked$3.95m
TVL by Chain
Ethereum$3.95m
Key Metrics
Fees 30d$35,889
Fees 30d by chain
Ethereum$35,889
Fees 7d$7,664
Ethereum$7,664
Fees 24h$1,124
Ethereum$1,124
Cumulative Fees$163,281
Ethereum$163,281
Revenue 30d-$5,573
Revenue 30d by chain
Ethereum$15,480
Revenue 7d-$4,175
Ethereum$2,745
Revenue 24h$448
Ethereum$448
Cumulative Revenue-$35,388
Ethereum$77,229
Protocol Information
Tangent is a decentralized lending protocol on Ethereum that issues USG, a crypto-backed stablecoin. Users deposit yield-bearing collateral (e.g. Curve/Convex LP positions) to borrow USG, with the peg defended by dynamic interest rates and Curve V2 peg keepers.
Audits:
Methodology
TVL: TVL = collateral held across Tangent markets.View code on GitHubFees: Borrow interest paid by USG borrowers, plus every reward harvested from the collateral deposited in Tangent markets.View code on GitHubRevenue: Borrow interest and the protocol cut of harvested collateral rewards, less what that pool pays out to sUSG savers and spends on vote incentives (bribes).View code on GitHubCompetitors
Tangent Finance history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from May 25, 2026 to Oct 28, 2026.
All-time high TVL: $4.81m on Sep 23, 2026. All-time low TVL: $293,506 on May 25, 2026.
Daily TVL, Sep 29, 2026 to Oct 28, 2026
| Date | TVL |
|---|---|
| Sep 29, 2026 | $4.48m |
| Sep 30, 2026 | $4.48m |
| Oct 1, 2026 | $4.48m |
| Oct 2, 2026 | $4.53m |
| Oct 3, 2026 | $4.58m |
| Oct 4, 2026 | $4.47m |
| Oct 5, 2026 | $4.26m |
| Oct 6, 2026 | $4.22m |
| Oct 7, 2026 | $3.98m |
| Oct 8, 2026 | $3.94m |
| Oct 9, 2026 | $3.91m |
| Oct 10, 2026 | $3.86m |
| Oct 11, 2026 | $3.87m |
| Oct 12, 2026 | $3.88m |
| Oct 13, 2026 | $3.85m |
| Oct 14, 2026 | $3.84m |
| Oct 15, 2026 | $3.78m |
| Oct 16, 2026 | $3.82m |
| Oct 17, 2026 | $3.94m |
| Oct 18, 2026 | $3.93m |
| Oct 19, 2026 | $3.93m |
| Oct 20, 2026 | $3.93m |
| Oct 21, 2026 | $3.95m |
| Oct 22, 2026 | $3.95m |
| Oct 23, 2026 | $3.91m |
| Oct 24, 2026 | $3.89m |
| Oct 25, 2026 | $3.89m |
| Oct 26, 2026 | $3.87m |
| Oct 27, 2026 | $3.9m |
| Oct 28, 2026 | $3.91m |
TVL at each month end, May 2026 to Oct 2026
| Date | TVL |
|---|---|
| May 31, 2026 | $2.49m |
| Jun 30, 2026 | $3.24m |
| Jul 31, 2026 | $4.44m |
| Aug 31, 2026 | $4.62m |
| Sep 30, 2026 | $4.48m |
| Oct 28, 2026 (latest) | $3.91m |
Fees and revenue by UTC calendar month, May 2026 to Oct 2026
| Month | Fees | Revenue |
|---|---|---|
| May 2026 | $7,108 | -$31,579 |
| Jun 2026 | $22,252 | -$3,131 |
| Jul 2026 | $25,572 | $4,071 |
| Aug 2026 | $35,002 | -$11,516 |
| Sep 2026 | $41,508 | $6,482 |
| Oct 2026 (to date) | $32,963 | $733 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/tangent-finance
Frequently asked questions
What is Tangent Finance's TVL?
As of Oct 28, 2026, Tangent Finance has $3.95m in total value locked. TVL has decreased 12.4% over the past 30 days.
What chains does Tangent Finance operate on?
Tangent Finance operates on Ethereum. Ethereum holds the largest share at 100%.
How much has Tangent Finance generated in fees and revenue?
Over the past 30 days, Tangent Finance generated $35,889 in fees. Of that, -$5,573 was protocol revenue. Based on the trailing year, the annualized rate is $382,036 in fees and -$74,663 in revenue.
How does Tangent Finance's TVL compare to similar protocols?
Among Lending protocols tracked by DefiLlama, Tangent Finance ranks #91 by TVL. The category holds $52.13b across 518 protocols, and Tangent Finance accounts for <0.1% of that total. Similar protocols include Aave V3, Morpho Blue, SparkLend, Maple, Compound V3, Venus Core Pool, Lista Lending, Aave V4, Fluid Lending, and Euler V2.