Mage Finance

Total Value Locked$122,192

Chain Breakdown
Merlin	$122.19k

Include in TVL (optional)
Borrowed	$925.38

USD ETH

Information

Protocol Information

Mage Protocol is the world's first money market built on Bitcoin's L2 scaling solution. Leveraging MerlinChain's ZK-rollup technology, Mage Protocol seamlessly enables users to lend, borrow, and earn, transforming idle Bitcoin assets into dynamic financial opportunities with unparalleled efficiency and security.

Category: Lending

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Token Information

Methodology

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.

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Competitors

Avalon Finance ($1.14b)Merchant Finance ($0)AAVE V3 ($20.12b)JustLend ($6.18b)Spark ($4.16b)Morpho Blue ($2.87b)Compound V3 ($2.12b)Kamino Lend ($1.81b)Venus Core Pool ($1.8b)Fluid Lending ($715.21m)