InformationTVL

Shoebill V1

Total Value Locked$7,747

TVL by Chain

Kaia$7,477

Kava$270.5

Key Metrics

Borrowed$6,197

Protocol Information

Shoebill Finance is a DeFi lending protocol that allows users to earn high stablecoin yields or take out interest-free loans and earn interest with leverage. When a borrower deposits tokens as collateral, Shoebill Finance earns interest by depositing them into protocols like Kokoa Finance, Kokonutswap, and Stake.ly. These interest earnings are then converted into the same tokens deposited by the creditor and distributed as interest

Category:Lending

Audits:

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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.View code on GitHub

Competitors

Kava Lend ($47.54m)Avalon Finance ($18.94m)BiFi ($11.49m)Hover ($7.66m)Tarot ($4.96m)Shoebill V2 ($1.83m)dForce ($1.51m)Mesher ($604,527)FilDA ($218,592)KlayBank ($72,178)