InformationTVLStablecoin Info

Interest Protocol (USDI)

Total Value Locked$78,927

TVL by Chain

OP Mainnet$57,726

Ethereum$21,201

Key Metrics

$USDI Price$1

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.

Category:CDP

Audits:

WebsiteGitHubTwitter

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 GitHub

Competitors

Reservoir Protocol ($76.85m)Frankencoin ($32.67m)Angle ($19.4m)Abracadabra Spell ($16.01m)QiDao ($5.69m)Sky Lending ($6.926b)Avalon USDa ($504.06m)USDD ($338.92m)Liquity V1 ($262.66m)Inverse Finance FiRM ($159.98m)