{"fetched_at":"2026-10-13T14:43:20.103Z","api_base":"https://api.bitcoincreditstack.com","coverage_semantics":"Coverage describes what a venue's data can support once its ingestion is running; `status` says whether anything is ingested yet. For a venue with observable own-state — an on-chain venue, resolved and read directly — status \"registered\" means resolved and awaiting ingestion, and such a venue publishes no figures whatever its coverage says; \"unresolved\" means named in the venue universe but not yet resolved, a declared gap rather than an omission. The posted and corporate classes do NOT resolve on-chain and are not described by that vocabulary: CeFi desks publish through cefi_credit_rates and corporate issuers through the corporate stack, so those venues can and do publish figures while carrying status \"registered\" — for them `coverage` and `validated` are the authority and `status` is not. Read the fields together or not at all. Each axis's `level` says what is observed and its `reason` says BY WHOM (operator; 2026-10-01): `full` where the venue's own contracts are read for that axis, `partial` where a figure is observed but only through an intermediary or in part — most often the aggregator (DefiLlama), whose rows are its report of each pool, not a read of the venue — and `none` where nothing is observed now. Each axis additionally carries `validated`: whether what has been ingested has passed a verification gate against a second observer. It is a THIRD question. An unvalidated figure is published with its observer named on the figure itself; it is not withheld, and it is not a validated one.","attribute_semantics":"Each criterion cell carries its value and the contract, document or filing that establishes it; a value without a source is not a populated cell and is served as null. Four kinds of absence, never conflated: not_applicable means the question does not apply to this kind of venue (a perpetual funding rate has no loan, so no liquidation mechanism to describe); undisclosed means the question applies and the venue does not publish the answer, which is itself a property of the venue; unknown means this dataset could not establish the answer from public sources, a fact about the dataset rather than the venue; and a null value means nobody has established it yet. attributes_complete counts the cells carrying a value and a source; attributes_established counts those whose value is also not unknown. Read them together: a criterion whose only content is unknown is a gap, and a ratio that cannot tell the two apart would improve without the dataset learning anything. Only track_record and book_depth can currently hold unknown; on the other criteria a value not yet established is served as null.","backing_chain_semantics":"backing_chain: the ordered claims standing between a creditor and the coins, each link derived from a sourced fact already held and carrying it in `derived_from` — the custody cell, the venue's borrow card, or wrapper_registry.yaml for who holds the bitcoin behind a token. A `representation` link has one branch per token the venue takes; branches are alternatives, not a sequence. A link nobody has established is shown with status `incomplete` and names what is missing — it is never dropped, because a missing link omitted makes a long chain look short. `undisclosed` means the party does not publish it; `incomplete` means this dataset has not established it. NEVER SCORED AND NEVER COUNTED: no length, link count or ranking is published, and none should be derived — chain length and link transparency are orthogonal (ETP-backed margin is the longest chain here and every link of it is regulated). `recourse` is what the creditor holds beyond the chain. ⚠ Tokens are identified BY SYMBOL: the wrapper registry is not keyed by chain or address, so every `representation` link carries a `deployment` step that is incomplete — whether a token is native to the chain of the venue or a bridge receipt (one more link) is not established — and a symbol the registry knows to name a different token on a venue is shown unresolved, not given that wrapper's holders.","backing_chain_inputs":{"wrapper_registry":{"available":true,"file":"wrapper_registry.yaml","as_of":"2026-09-02","keyed_by":"symbol"},"posted_cards":{"available":true}},"count":135,"by_status":{"registered":33,"ingesting":94,"live":1,"defunct":7},"by_research_tier":{"full":95,"listed":40},"research_tier_semantics":"research_tier says whether this dataset undertakes to research a venue's criteria in full. `full`: it does. `listed`: it does not — the venue is listed and its figures are published, and a null criterion on it means \"below the research floor\", not \"not researched yet\". A venue is `listed` only where BOTH hold: this dataset reads it solely through an aggregator, and its 30-day book has not reached the floor (floor_usd) on any day of the last 90. `basis` names the limb that decided: `first_hand` (read from the venue's own contracts or events, at any size), `not_aggregator_sourced` (posted cards, filings), `book` (at or above the floor) or `below_floor`. The floor is drawn on how a venue is OBSERVED and how large it is, never on which venue it is: no venue is named in the rule. It removes nothing — a criterion already researched on a listed venue is served as before — and it is not a statement about the venue's quality, only about where this dataset spends its research.","loan_currency_semantics":"`loan_currency` says what the loans at this venue are denominated in. `declared` (desks, brokers): the currencies a primary source states, with `basis` (published | filing | undisclosed | not_applicable) and the source; null = not yet researched, which is NOT \"dollars\". `observed` (on-chain venues, corporate issuers): the latest debt secured by bitcoin, by the currency it is borrowed in, from one observer per venue (pool_read > contract_state > venue API > aggregator; corporate instruments as filed, which carry no lien on bitcoin). A dollar stablecoin is `usd`; `btc` is bitcoin borrowed against bitcoin, `debt_native` then in wrapper units (a wrapper is not BTC). `not_split` is the part of the bitcoin-only debt in a pool read that is not dollars and is not yet split further; `unresolved` is a loan asset whose peg is not established. `debt_usd` is a USD equivalent for comparison only: currencies are separate books and are never summed.","criteria_spec_version":"venue_reliability_criteria_v1 (v1.2)","family_semantics":"A family is the presentation parent of a venue: one protocol across its chain deployments (Aave v3 on Ethereum, Arbitrum, Base…), one corporate issuer, or one desk. family_id matches the ids other payloads use (the corporate issuer_id, the rate-card desk key). It is NOT a measurement unit: every figure in this dataset keys on venue_id, and a family lists its venues rather than summing them. Deployments of one family are separate contracts with separate books and can differ in collateral, parameters and risk.","families":[{"family_id":"aave_v1","display_name":"Aave v1","operator":"Aave DAO","venue_ids":["aave_v1_ethereum"],"deployments":["Ethereum"],"venue_types":["onchain_pooled"],"by_status":{"registered":1}},{"family_id":"aave_v2","display_name":"Aave v2","operator":"Aave DAO","venue_ids":["aave_v2_avalanche","aave_v2_ethereum","aave_v2_polygon"],"deployments":["Avalanche","Ethereum","Polygon"],"venue_types":["onchain_pooled"],"by_status":{"registered":3}},{"family_id":"aave_v3","display_name":"Aave v3","operator":"Aave DAO","venue_ids":["aave_v3_arbitrum","aave_v3_avalanche","aave_v3_base","aave_v3_bsc","aave_v3_ethereum","aave_v3_linea","aave_v3_mantle","aave_v3_megaeth","aave_v3_monad","aave_v3_optimism","aave_v3_polygon","aave_v3_xlayer"],"deployments":["Arbitrum","Avalanche","Base","BSC","Ethereum","Linea","Mantle","MegaETH","Monad","Optimism","Polygon","X Layer"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":12}},{"family_id":"aave_v4","display_name":"Aave v4","operator":"Aave DAO","venue_ids":["aave_v4_avalanche","aave_v4_ethereum"],"deployments":["Avalanche","Ethereum"],"venue_types":["onchain_pooled"],"by_status":{"registered":2}},{"family_id":"arcadia_v2","display_name":"Arcadia v2","operator":null,"venue_ids":["arcadia_v2_base"],"deployments":["Base"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"arch","display_name":"Arch","operator":"Arch","venue_ids":["cefi_arch"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"asymmetry_usdaf","display_name":"Asymmetry USDaf","operator":null,"venue_ids":["asymmetry_usdaf_ethereum"],"deployments":["Ethereum"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"avalon_finance","display_name":"Avalon Finance","operator":null,"venue_ids":["avalon_finance_bob"],"deployments":["BOB"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"benqi_lending","display_name":"BENQI Lending","operator":null,"venue_ids":["benqi_lending_avalanche"],"deployments":["Avalanche"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"blockchain_group","display_name":"Capital B","operator":"Capital B (formerly The Blockchain Group)","venue_ids":["corp_blockchain_group"],"deployments":[],"venue_types":["corporate_debt"],"by_status":{"registered":1}},{"family_id":"blockfi","display_name":"BlockFi","operator":"BlockFi Inc.","venue_ids":["cefi_blockfi"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"defunct":1}},{"family_id":"cantor","display_name":"Cantor Fitzgerald","operator":"Cantor Fitzgerald","venue_ids":["cefi_cantor"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"celsius","display_name":"Celsius Network","operator":"Celsius Network LLC","venue_ids":["cefi_celsius"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"defunct":1}},{"family_id":"coinbase_morpho","display_name":"Coinbase (Morpho-backed)","operator":"Coinbase (Morpho-backed)","venue_ids":["cefi_coinbase_morpho"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"colend_protocol","display_name":"Colend Protocol","operator":null,"venue_ids":["colend_protocol_core"],"deployments":["CORE"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"compound_v2","display_name":"Compound v2","operator":"Compound DAO","venue_ids":["compound_v2_ethereum"],"deployments":["Ethereum"],"venue_types":["onchain_pooled"],"by_status":{"registered":1}},{"family_id":"compound_v3","display_name":"Compound v3","operator":"Compound DAO","venue_ids":["compound_v3_arbitrum","compound_v3_base","compound_v3_ethereum","compound_v3_optimism","compound_v3_polygon"],"deployments":["Arbitrum","Base","Ethereum","Optimism","Polygon"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":5}},{"family_id":"cred","display_name":"Cred","operator":"Cred Inc.","venue_ids":["cefi_cred"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"defunct":1}},{"family_id":"crvusd","display_name":"crvUSD","operator":null,"venue_ids":["crvusd_ethereum"],"deployments":["Ethereum"],"venue_types":["onchain_cdp"],"by_status":{"ingesting":1}},{"family_id":"current","display_name":"Current","operator":null,"venue_ids":["current_sui"],"deployments":["Sui"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"curvance","display_name":"Curvance","operator":null,"venue_ids":["curvance_monad"],"deployments":["Monad"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"curve_llamalend","display_name":"Curve LlamaLend","operator":"Curve DAO","venue_ids":["curve_llamalend_arbitrum","curve_llamalend_ethereum","curve_llamalend_optimism"],"deployments":["Arbitrum","Ethereum","Optimism"],"venue_types":["onchain_isolated"],"by_status":{"ingesting":3}},{"family_id":"dolomite","display_name":"Dolomite","operator":null,"venue_ids":["dolomite_arbitrum","dolomite_berachain","dolomite_ethereum"],"deployments":["Arbitrum","Berachain","Ethereum"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":3}},{"family_id":"echelon_market","display_name":"Echelon Market","operator":null,"venue_ids":["echelon_market_aptos"],"deployments":["Aptos"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"etherfi_borrowing","display_name":"EtherFi Borrowing","operator":"ether.fi","venue_ids":["etherfi_borrowing_optimism"],"deployments":["Optimism"],"venue_types":["onchain_pooled"],"by_status":{"registered":1}},{"family_id":"euler_v2","display_name":"Euler v2","operator":"Euler DAO","venue_ids":["euler_v2_arbitrum","euler_v2_avalanche","euler_v2_base","euler_v2_bsc","euler_v2_ethereum","euler_v2_hyperliquid_l1","euler_v2_monad","euler_v2_unichain"],"deployments":["Arbitrum","Avalanche","Base","BSC","Ethereum","Hyperliquid L1","Monad","Unichain"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":8}},{"family_id":"exactly","display_name":"Exactly","operator":null,"venue_ids":["exactly_optimism"],"deployments":["Optimism"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"extra_finance_xlend","display_name":"Extra Finance xLend","operator":null,"venue_ids":["extra_finance_xlend_base","extra_finance_xlend_optimism"],"deployments":["Base","Optimism"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":2}},{"family_id":"felix_cdp","display_name":"Felix CDP","operator":null,"venue_ids":["felix_cdp_hyperliquid_l1"],"deployments":["Hyperliquid L1"],"venue_types":["onchain_cdp"],"by_status":{"ingesting":1}},{"family_id":"fidelity","display_name":"Fidelity","operator":"Fidelity Brokerage Services LLC","venue_ids":["broker_fidelity"],"deployments":[],"venue_types":["broker"],"by_status":{"registered":1}},{"family_id":"figure","display_name":"Figure","operator":"Figure","venue_ids":["cefi_figure"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"fira","display_name":"Fira","operator":null,"venue_ids":["fira_ethereum"],"deployments":["Ethereum"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"fluid_lending","display_name":"Fluid Lending","operator":null,"venue_ids":["fluid_lending_arbitrum","fluid_lending_base","fluid_lending_ethereum","fluid_lending_polygon"],"deployments":["Arbitrum","Base","Ethereum","Polygon"],"venue_types":["onchain_isolated"],"by_status":{"ingesting":4}},{"family_id":"folks_finance_lending","display_name":"Folks Finance Lending","operator":null,"venue_ids":["folks_finance_lending_algorand"],"deployments":["Algorand"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"folks_finance_xchain","display_name":"Folks Finance xChain","operator":null,"venue_ids":["folks_finance_xchain_avalanche","folks_finance_xchain_base","folks_finance_xchain_ethereum","folks_finance_xchain_monad"],"deployments":["Avalanche","Base","Ethereum","Monad"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":4}},{"family_id":"frankencoin","display_name":"Frankencoin","operator":null,"venue_ids":["frankencoin_ethereum"],"deployments":["Ethereum"],"venue_types":["onchain_cdp"],"by_status":{"ingesting":1}},{"family_id":"fraxlend","display_name":"Fraxlend","operator":null,"venue_ids":["fraxlend_ethereum"],"deployments":["Ethereum"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"galaxy","display_name":"Galaxy Digital","operator":"Galaxy Digital Inc.","venue_ids":["cefi_galaxy"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"gavel","display_name":"The Gavel Protocol","operator":null,"venue_ids":["gavel_arbitrum"],"deployments":["Arbitrum"],"venue_types":["auction"],"by_status":{"live":1}},{"family_id":"gearbox","display_name":"Gearbox","operator":null,"venue_ids":["gearbox_ethereum"],"deployments":["Ethereum"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"genesis","display_name":"Genesis Global Capital","operator":"Genesis Global Holdco, LLC","venue_ids":["cefi_genesis"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"defunct":1}},{"family_id":"hodlnaut","display_name":"Hodlnaut","operator":"Hodlnaut Pte. Ltd.","venue_ids":["cefi_hodlnaut"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"defunct":1}},{"family_id":"hyperlend_pooled","display_name":"HyperLend Pooled","operator":null,"venue_ids":["hyperlend_pooled_hyperliquid_l1"],"deployments":["Hyperliquid L1"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"hypurrfi_pooled","display_name":"HypurrFi Pooled","operator":null,"venue_ids":["hypurrfi_pooled_hyperliquid_l1"],"deployments":["Hyperliquid L1"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"ibkr","display_name":"Interactive Brokers","operator":"Interactive Brokers LLC","venue_ids":["broker_ibkr"],"deployments":[],"venue_types":["broker"],"by_status":{"registered":1}},{"family_id":"inverse_finance_firm","display_name":"Inverse Finance FiRM","operator":null,"venue_ids":["inverse_finance_firm_ethereum"],"deployments":["Ethereum"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"jupiter_lend","display_name":"Jupiter Lend","operator":null,"venue_ids":["jupiter_lend_solana"],"deployments":["Solana"],"venue_types":["onchain_isolated"],"by_status":{"ingesting":1}},{"family_id":"justlend_v1","display_name":"JustLend v1","operator":null,"venue_ids":["justlend_v1_tron"],"deployments":["Tron"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"kamino_lend","display_name":"Kamino Lend","operator":null,"venue_ids":["kamino_lend_solana"],"deployments":["Solana"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"kava_mint","display_name":"Kava Mint","operator":null,"venue_ids":["kava_mint_kava"],"deployments":["Kava"],"venue_types":["onchain_cdp"],"by_status":{"ingesting":1}},{"family_id":"kinza_finance","display_name":"Kinza Finance","operator":null,"venue_ids":["kinza_finance_bsc"],"deployments":["BSC"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"layerbank","display_name":"LayerBank","operator":null,"venue_ids":["layerbank_move"],"deployments":["Movement"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"ledn","display_name":"Ledn","operator":"Ledn","venue_ids":["cefi_ledn"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"liquidium","display_name":"Liquidium","operator":null,"venue_ids":["liquidium_icp"],"deployments":["ICP"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"liquity_forks","display_name":"Threshold USD","operator":null,"venue_ids":["liquity_forks_ethereum"],"deployments":["Ethereum"],"venue_types":["onchain_cdp"],"by_status":{"ingesting":1}},{"family_id":"lista_cdp","display_name":"Lista CDP","operator":null,"venue_ids":["lista_cdp_bsc"],"deployments":["BSC"],"venue_types":["onchain_cdp"],"by_status":{"ingesting":1}},{"family_id":"maple","display_name":"Maple Institutional Secured Lending","operator":"Maple Labs","venue_ids":["maple_ethereum"],"deployments":["Ethereum"],"venue_types":["onchain_pooled"],"by_status":{"registered":1}},{"family_id":"mara","display_name":"MARA Holdings","operator":"MARA Holdings, Inc.","venue_ids":["corp_marathon"],"deployments":[],"venue_types":["corporate_debt"],"by_status":{"registered":1}},{"family_id":"metaplanet","display_name":"Metaplanet","operator":"Metaplanet Inc.","venue_ids":["corp_metaplanet"],"deployments":[],"venue_types":["corporate_debt"],"by_status":{"registered":1}},{"family_id":"milo","display_name":"Milo","operator":"Milo","venue_ids":["cefi_milo"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"moonwell_lending","display_name":"Moonwell Lending","operator":null,"venue_ids":["moonwell_lending_base","moonwell_lending_moonbeam"],"deployments":["Base","Moonbeam"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":2}},{"family_id":"morpho_blue","display_name":"Morpho Blue","operator":"Morpho Labs","venue_ids":["morpho_blue_arbitrum","morpho_blue_base","morpho_blue_ethereum","morpho_blue_hyperliquid_l1","morpho_blue_katana","morpho_blue_monad","morpho_blue_optimism","morpho_blue_polygon","morpho_blue_tempo","morpho_blue_unichain"],"deployments":["Arbitrum","Base","Ethereum","Hyperliquid L1","Katana","Monad","Optimism","Polygon","Tempo","Unichain"],"venue_types":["onchain_isolated"],"by_status":{"ingesting":10}},{"family_id":"navi_lending","display_name":"NAVI Lending","operator":null,"venue_ids":["navi_lending_sui"],"deployments":["Sui"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"neverland","display_name":"Neverland","operator":null,"venue_ids":["neverland_monad"],"deployments":["Monad"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"nexo","display_name":"Nexo","operator":"Nexo","venue_ids":["cefi_nexo"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"riot","display_name":"Riot Platforms","operator":"Riot Platforms","venue_ids":["corp_riot"],"deployments":[],"venue_types":["corporate_debt"],"by_status":{"registered":1}},{"family_id":"salt","display_name":"SALT","operator":"SALT","venue_ids":["cefi_salt"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"save","display_name":"Save","operator":null,"venue_ids":["save_solana"],"deployments":["Solana"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"scallop_lend","display_name":"Scallop Lend","operator":null,"venue_ids":["scallop_lend_sui"],"deployments":["Sui"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"schwab","display_name":"Charles Schwab","operator":"Charles Schwab & Co., Inc.","venue_ids":["broker_schwab"],"deployments":[],"venue_types":["broker"],"by_status":{"registered":1}},{"family_id":"silo_v2","display_name":"Silo v2","operator":null,"venue_ids":["silo_v2_avalanche","silo_v2_sonic"],"deployments":["Avalanche","Sonic"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":2}},{"family_id":"sky","display_name":"Sky","operator":"Sky Ecosystem","venue_ids":["sky_ethereum"],"deployments":["Ethereum"],"venue_types":["onchain_cdp"],"by_status":{"ingesting":1}},{"family_id":"spark","display_name":"SparkLend","operator":"Spark","venue_ids":["spark_ethereum"],"deployments":["Ethereum"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"strategy","display_name":"Strategy","operator":"Strategy (MicroStrategy)","venue_ids":["corp_strategy"],"deployments":[],"venue_types":["corporate_debt"],"by_status":{"registered":1}},{"family_id":"strike","display_name":"Strike","operator":"Strike","venue_ids":["cefi_strike"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"strive","display_name":"Strive","operator":"Strive, Inc.","venue_ids":["corp_strive"],"deployments":[],"venue_types":["corporate_debt"],"by_status":{"registered":1}},{"family_id":"takara_lend","display_name":"Takara Lend","operator":null,"venue_ids":["takara_lend_sei"],"deployments":["Sei"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"tectonic","display_name":"Tectonic","operator":null,"venue_ids":["tectonic_cronos"],"deployments":["Cronos"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"tender_finance","display_name":"Tender Finance","operator":null,"venue_ids":["tender_finance_arbitrum"],"deployments":["Arbitrum"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"tether","display_name":"Tether","operator":"Tether International, S.A. de C.V.","venue_ids":["cefi_tether"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"two_prime","display_name":"Two Prime","operator":"Two Prime Lending Limited","venue_ids":["cefi_two_prime"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"tydro","display_name":"Tydro","operator":null,"venue_ids":["tydro_ink"],"deployments":["Ink"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"unchained","display_name":"Unchained","operator":"Unchained","venue_ids":["cefi_unchained"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"vauld","display_name":"Vauld","operator":"Defi Payments Pte. Ltd.","venue_ids":["cefi_vauld"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"defunct":1}},{"family_id":"venus_core_pool","display_name":"Venus Core Pool","operator":null,"venue_ids":["venus_core_pool_bsc"],"deployments":["BSC"],"venue_types":["onchain_pooled"],"by_status":{"ingesting":1}},{"family_id":"voyager","display_name":"Voyager Digital","operator":"Voyager Digital Holdings, Inc.","venue_ids":["cefi_voyager"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"defunct":1}},{"family_id":"xapo","display_name":"Xapo Bank","operator":"Xapo Bank","venue_ids":["cefi_xapo"],"deployments":[],"venue_types":["cefi_desk"],"by_status":{"registered":1}},{"family_id":"zentra_finance","display_name":"Zentra Finance","operator":null,"venue_ids":["zentra_finance_citrea"],"deployments":["Citrea"],"venue_types":["onchain_pooled"],"by_status":{"registered":1}}],"families_unavailable":null,"venues":[{"venue_id":"aave_v1_ethereum","display_name":"Aave v1 (Ethereum)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":1,"family_id":"aave_v1","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"contract_read","status":"registered","first_block":null,"first_date":"2020-01-13","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Not observed: this venue's rates are not read. It is registered for its collateral history.","validated":false},"quantity":{"level":"partial","reason":"Observed through the venue's own contracts: the supplied amount of its bitcoin reserve, read DAILY at a recorded block since 2026-10-01 and WEEKLY at past blocks back to 2020-01-13. Collateral only — the venue's debt is not read.","validated":false},"composition":{"level":"none","reason":"Not observed: composition is loan-level.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Registered 2026-10-01 (operator: the wrapper chart should reach before 2020, with the venues that held bitcoin then). Aave v1's WBTC reserve (aWBTC) — 2.65 WBTC supplied on 2026-10-01; the protocol was superseded by v2 in December 2020. Resolved on chain by registry/resolution/2026-10/scripts/resolve_historical_venues.cjs (historical_venues.json). Read WEEKLY at past blocks for the collateral history (credit-state/collateral-history.mjs), and daily for quantity.bcl since 2026-10-01 (collateral only). Criteria cells set 2026-10-01.","market_count":0,"resolved_at":"2026-10-01","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":null,"collateral_set":["btc"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"aave_v2_avalanche","display_name":"Aave v2 (Avalanche)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":43114,"family_id":"aave_v2","deployment":"Avalanche","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"contract_read","status":"registered","first_block":null,"first_date":"2021-10-04","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Not observed: this venue's rates are not read. It is registered for its collateral history.","validated":false},"quantity":{"level":"partial","reason":"Observed through the venue's own contracts: the supplied amount of its bitcoin reserve, read DAILY at a recorded block since 2026-10-01 and WEEKLY at past blocks back to 2021-10-04. Collateral only — the venue's debt is not read.","validated":false},"composition":{"level":"none","reason":"Not observed: composition is loan-level.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Registered 2026-10-01 (operator: the wrapper chart should reach before 2020, with the venues that held bitcoin then). Aave v2's WBTC.e reserve on Avalanche (avWBTC) — 68.0 WBTC.e supplied on 2026-10-01. Resolved on chain by registry/resolution/2026-10/scripts/resolve_historical_venues.cjs (historical_venues.json). Read WEEKLY at past blocks for the collateral history (credit-state/collateral-history.mjs), and daily for quantity.bcl since 2026-10-01 (collateral only). Criteria cells set 2026-10-01.","market_count":0,"resolved_at":"2026-10-01","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): WBTC.e"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":null,"collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":369297.65751975414,"book_as_of":"2026-10-13","peak_book_usd_90d":377550.8087866474,"peak_on":"2026-10-08","days_seen":7},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"aave_v2_ethereum","display_name":"Aave v2 (Ethereum)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":1,"family_id":"aave_v2","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"contract_read","status":"registered","first_block":null,"first_date":"2020-12-07","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Not observed: this venue's rates are not read. It is registered for its collateral history.","validated":false},"quantity":{"level":"partial","reason":"Observed through the venue's own contracts: the supplied amount of its bitcoin reserve, read DAILY at a recorded block since 2026-10-01 and WEEKLY at past blocks back to 2020-12-07. Collateral only — the venue's debt is not read.","validated":false},"composition":{"level":"none","reason":"Not observed: composition is loan-level.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Registered 2026-10-01 (operator: the wrapper chart should reach before 2020, with the venues that held bitcoin then). Aave v2's WBTC reserve (aWBTC) — 292.7 WBTC supplied on 2026-10-01. Resolved on chain by registry/resolution/2026-10/scripts/resolve_historical_venues.cjs (historical_venues.json). Read WEEKLY at past blocks for the collateral history (credit-state/collateral-history.mjs), and daily for quantity.bcl since 2026-10-01 (collateral only). Criteria cells set 2026-10-01.","market_count":0,"resolved_at":"2026-10-01","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":null,"collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":11211270.65433864,"book_as_of":"2026-10-13","peak_book_usd_90d":11656463.646707948,"peak_on":"2026-10-07","days_seen":7},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"aave_v2_polygon","display_name":"Aave v2 (Polygon)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":137,"family_id":"aave_v2","deployment":"Polygon","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"contract_read","status":"registered","first_block":null,"first_date":"2021-04-05","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Not observed: this venue's rates are not read. It is registered for its collateral history.","validated":false},"quantity":{"level":"partial","reason":"Observed through the venue's own contracts: the supplied amount of its bitcoin reserve, read DAILY at a recorded block since 2026-10-01 and WEEKLY at past blocks back to 2021-04-05. Collateral only — the venue's debt is not read.","validated":false},"composition":{"level":"none","reason":"Not observed: composition is loan-level.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Registered 2026-10-01 (operator: the wrapper chart should reach before 2020, with the venues that held bitcoin then). Aave v2's WBTC reserve on Polygon (amWBTC) — 62.0 WBTC supplied on 2026-10-01. Resolved on chain by registry/resolution/2026-10/scripts/resolve_historical_venues.cjs (historical_venues.json). Read WEEKLY at past blocks for the collateral history (credit-state/collateral-history.mjs), and daily for quantity.bcl since 2026-10-01 (collateral only). Criteria cells set 2026-10-01.","market_count":0,"resolved_at":"2026-10-01","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":null,"collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":2338352.1974796904,"book_as_of":"2026-10-13","peak_book_usd_90d":2413415.002053801,"peak_on":"2026-10-07","days_seen":7},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"aave_v3_arbitrum","display_name":"Aave v3 (Arbitrum)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":42161,"family_id":"aave_v3","deployment":"Arbitrum","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":7742429,"first_date":"2022-03-11","backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":true},"quantity":{"level":"full","reason":null,"validated":false},"composition":{"level":"partial","reason":"Aave pools collateral across all of an account's reserves. Attributing a borrow to BTC collateral specifically is a modelling decision, not an on-chain read, and every composition figure for this venue must carry that label.","validated":false}},"validation_note":"Rate history is independent of the loan-level backfill and current. Quantity and composition are WITHHELD: the durable verdict is clean on no chain, Optimism sits at tip with no verdict at all, and 2,532 accounts across six chains hold materially negative collateral. an unvalidated series never ships.","terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":2,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (2): tBTC, WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":202096443.84080237,"book_as_of":"2026-10-13","peak_book_usd_90d":204216228.43333334,"peak_on":"2026-09-22","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":45312273,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":1837288,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"aave_v3_avalanche","display_name":"Aave v3 (Avalanche)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":43114,"family_id":"aave_v3","deployment":"Avalanche","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":11970506,"first_date":"2022-03-11","backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":false},"quantity":{"level":"full","reason":null,"validated":false},"composition":{"level":"partial","reason":"Aave pools collateral across all of an account's reserves. Attributing a borrow to BTC collateral specifically is a modelling decision, not an on-chain read, and every composition figure for this venue must carry that label.","validated":false}},"validation_note":"Neither axis is validated. No independent rate series exists for this chain and the loan-level ingestion has not produced a clean verdict.","terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":2,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (2): BTC.b, WBTC.e"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":84144679.52427605,"book_as_of":"2026-10-13","peak_book_usd_90d":84144679.52427605,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":17984597,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":1068080,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"aave_v3_base","display_name":"Aave v3 (Base)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":8453,"family_id":"aave_v3","deployment":"Base","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":2357134,"first_date":"2023-08-08","backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":false},"quantity":{"level":"full","reason":null,"validated":false},"composition":{"level":"partial","reason":"Aave pools collateral across all of an account's reserves. Attributing a borrow to BTC collateral specifically is a modelling decision, not an on-chain read, and every composition figure for this venue must carry that label.","validated":false}},"validation_note":"Neither axis is validated. No independent rate series exists for this chain and the loan-level ingestion has not produced a clean verdict.","terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":3,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (3): cbBTC, LBTC, tBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":358419562.3835281,"book_as_of":"2026-10-13","peak_book_usd_90d":358419562.3835281,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":52591677,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":5559509,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"aave_v3_bsc","display_name":"Aave v3 (BSC)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":56,"family_id":"aave_v3","deployment":"BSC","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $61M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":1,"resolved_at":null,"attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): BTCB"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":71823515.10065137,"book_as_of":"2026-10-13","peak_book_usd_90d":71823515.10065137,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":18158327,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":7305080,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"aave_v3_ethereum","display_name":"Aave v3 (Ethereum)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":1,"family_id":"aave_v3","deployment":"Ethereum","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":16291127,"first_date":"2022-12-29","backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":true},"quantity":{"level":"full","reason":null,"validated":false},"composition":{"level":"partial","reason":"Aave pools collateral across all of an account's reserves. Attributing a borrow to BTC collateral specifically is a modelling decision, not an on-chain read, and every composition figure for this venue must carry that label.","validated":false}},"validation_note":"Rate history is independent of the loan-level backfill and current. Quantity and composition are WITHHELD: the durable verdict is clean on no chain, Optimism sits at tip with no verdict at all, and 2,532 accounts across six chains hold materially negative collateral. an unvalidated series never ships.","terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":7,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (7): BTC.b, cbBTC, eBTC, FBTC, LBTC, tBTC, WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":8598717624.71327,"book_as_of":"2026-10-13","peak_book_usd_90d":8862743744.233335,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":1232163031,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":50366690,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"aave_v3_linea","display_name":"Aave v3 (Linea)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":59144,"family_id":"aave_v3","deployment":"Linea","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/aave_chains.json). The addresses provider is the Aave address book's (AaveV3Linea.sol); the RPC reports chain id 59144, getMarketId() returns \"Aave V3 Linea Market\", and Pool.ADDRESSES_PROVIDER() points back at it. 9 reserves, one of them bitcoin: WBTC (\"Wrapped BTC\", 0x3aAB2285ddcDdaD8edf438C1bAB47e1a9D05a9b4, 8 decimals). Base LTV 73%, liquidation threshold 78%. It can also be borrowed. markets is left EMPTY on purpose: the loader cross-checks that list against the Phase 2 artefact the Aave ingester reads, and this deployment is not ingested. Its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":6892827.871158388,"book_as_of":"2026-10-13","peak_book_usd_90d":7623399.233333333,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":57514,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":486,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"aave_v3_mantle","display_name":"Aave v3 (Mantle)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":5000,"family_id":"aave_v3","deployment":"Mantle","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/aave_chains.json). The addresses provider is the Aave address book's (AaveV3Mantle.sol); the RPC reports chain id 5000, getMarketId() returns \"Aave V3 Mantle Market\", and Pool.ADDRESSES_PROVIDER() points back at it. 10 reserves, one of them bitcoin: FBTC (\"Fire Bitcoin\", 0xC96dE26018A54D51c097160568752c4E3BD6C364, 8 decimals). Its BASE LTV and liquidation threshold are 0, so it is collateral ONLY inside eMode 3 \"fBTC Stablecoins\" at LTV 75%, threshold 79%. It cannot be borrowed. markets is left EMPTY on purpose: the loader cross-checks that list against the Phase 2 artefact the Aave ingester reads, and this deployment is not ingested. Its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): FBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":143498243.69642946,"book_as_of":"2026-10-13","peak_book_usd_90d":143498243.69642946,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":5767958,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":0,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"aave_v3_megaeth","display_name":"Aave v3 (MegaETH)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":4326,"family_id":"aave_v3","deployment":"MegaETH","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/aave_chains.json). The addresses provider is the Aave address book's (AaveV3MegaEth.sol); the RPC reports chain id 4326, getMarketId() returns \"Aave V3 MegaETH Market\", and Pool.ADDRESSES_PROVIDER() points back at it. 9 reserves, one of them bitcoin: BTC.b (\"Bitcoin\", 0xB0F70C0bD6FD87dbEb7C10dC692a2a6106817072, 8 decimals). Base LTV 68%, liquidation threshold 73%, and eMode 2 \"BTCb Stablecoins\" at LTV 70%, threshold 75%. It cannot be borrowed. MegaETH IS an EVM chain: the generated note this replaces said it was not, which was the proposal script reading an id it did not hold as an id that does not exist. markets is left EMPTY on purpose: the loader cross-checks that list against the Phase 2 artefact the Aave ingester reads, and this deployment is not ingested. Its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): BTC.b"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":6179296.218825601,"book_as_of":"2026-10-13","peak_book_usd_90d":6252888.8,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":15521,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":0,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"aave_v3_monad","display_name":"Aave v3 (Monad)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":143,"family_id":"aave_v3","deployment":"Monad","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/aave_chains.json). The addresses provider is the Aave address book's (AaveV3Monad.sol); the RPC reports chain id 143, getMarketId() returns \"Aave V3 Monad\", and Pool.ADDRESSES_PROVIDER() points back at it. 13 reserves, one of them bitcoin: cbBTC (\"Coinbase Wrapped BTC\", 0xd18B7EC58Cdf4876f6AFebd3Ed1730e4Ce10414b, 8 decimals). Base LTV 73%, liquidation threshold 78%. It cannot be borrowed. Monad IS an EVM chain: the generated note this replaces said it was not, which was the proposal script reading an id it did not hold as an id that does not exist. markets is left EMPTY on purpose: the loader cross-checks that list against the Phase 2 artefact the Aave ingester reads, and this deployment is not ingested. Its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): cbBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":255915116.64646775,"book_as_of":"2026-10-13","peak_book_usd_90d":286828170.03333336,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"aave_v3_optimism","display_name":"Aave v3 (Optimism)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":10,"family_id":"aave_v3","deployment":"Optimism","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":4365693,"first_date":"2022-03-11","backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":false},"quantity":{"level":"full","reason":null,"validated":false},"composition":{"level":"partial","reason":"Aave pools collateral across all of an account's reserves. Attributing a borrow to BTC collateral specifically is a modelling decision, not an on-chain read, and every composition figure for this venue must carry that label.","validated":false}},"validation_note":"Neither axis is validated. No independent rate series exists for this chain and the loan-level ingestion has not produced a clean verdict.","terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":1,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":20180926.063634444,"book_as_of":"2026-10-13","peak_book_usd_90d":20523458.5,"peak_on":"2026-09-22","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":1681889,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":193399,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"aave_v3_polygon","display_name":"Aave v3 (Polygon)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":137,"family_id":"aave_v3","deployment":"Polygon","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":25826028,"first_date":"2022-03-11","backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":false},"quantity":{"level":"full","reason":null,"validated":false},"composition":{"level":"partial","reason":"Aave pools collateral across all of an account's reserves. Attributing a borrow to BTC collateral specifically is a modelling decision, not an on-chain read, and every composition figure for this venue must carry that label.","validated":false}},"validation_note":"Neither axis is validated. No independent rate series exists for this chain and the loan-level ingestion has not produced a clean verdict.","terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":1,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":33818905.35292009,"book_as_of":"2026-10-13","peak_book_usd_90d":33818905.35292009,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":16934584,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":1408360,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"aave_v3_xlayer","display_name":"Aave v3 (X Layer)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":196,"family_id":"aave_v3","deployment":"X Layer","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/aave_chains.json). The addresses provider is the Aave address book's (AaveV3XLayer.sol); the RPC reports chain id 196, getMarketId() returns \"Aave V3 XLayer Market\", and Pool.ADDRESSES_PROVIDER() points back at it. 11 reserves, one of them bitcoin: xBTC (\"OKX Wrapped BTC\", 0xb7C00000bcDEeF966b20B3D884B98E64d2b06b4f, 8 decimals). Base LTV 70%, liquidation threshold 75%, and eMode 1 \"xBTC__Stablecoins\" at LTV 78%, threshold 81%. It can also be borrowed. markets is left EMPTY on purpose: the loader cross-checks that list against the Phase 2 artefact the Aave ingester reads, and this deployment is not ingested. Its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): xBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":64973648.12856007,"book_as_of":"2026-10-13","peak_book_usd_90d":66145590.66866495,"peak_on":"2026-10-08","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":93920,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":22273,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"aave_v4_avalanche","display_name":"Aave v4 (Avalanche)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":43114,"family_id":"aave_v4","deployment":"Avalanche","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"contract_read","status":"registered","first_block":89721368,"first_date":"2026-07-07","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false},"quantity":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false},"composition":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"REGISTERED 2026-10-06 (ether as a second collateral type). Root: github.com/bgd-labs/aave-address-book main@5895697 (2026-10-06): scripts/configs/v4/ethereum.ts, scripts/configs/v4/avalanche.ts (generated into src/AaveV4Ethereum.sol / src/AaveV4Avalanche.sol); every other address is the root's own answer, read at block 96881085 on chain 43114. Criteria cells, book, reader notes and caveats: registry/resolution/2026-10/ec1_venues.json. Not yet read daily.","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC (1 representation as collateral): BTC.b; also ETH-family (WETH.e) and others (WAVAX, sAVAX, USDC, USDT, EURC)"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"disclosed"}},"attributes_complete":10,"attributes_established":10,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"2026-10-06: takes bitcoin as collateral, read on chain at block 96881085: BTC.b 98.85073519 on MAIN. Operator, 2026-10-06: registered with bitcoin and ether.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":5588712.562819758,"book_as_of":"2026-10-13","peak_book_usd_90d":5588712.562819758,"peak_on":"2026-10-13","days_seen":7},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":3030132,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":7700,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"aave_v4_ethereum","display_name":"Aave v4 (Ethereum)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":1,"family_id":"aave_v4","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"contract_read","status":"registered","first_block":24720887,"first_date":"2026-03-23","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false},"quantity":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false},"composition":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"REGISTERED 2026-10-06 (ether as a second collateral type). Root: github.com/bgd-labs/aave-address-book main@5895697 (2026-10-06): scripts/configs/v4/ethereum.ts, scripts/configs/v4/avalanche.ts (generated into src/AaveV4Ethereum.sol / src/AaveV4Avalanche.sol); every other address is the root's own answer, read at block 26133621 on chain 1. Criteria cells, book, reader notes and caveats: registry/resolution/2026-10/ec1_venues.json. Not yet read daily.","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC (3 representations as collateral): WBTC, cbBTC, LBTC; also ETH-family (WETH, wstETH, weETH; rsETH listed but frozen with collateralFactor 0) and others (AAVE, LINK, XAUt, PAXG, sUSDe, USDe, Pendle PTs, syrupUSDG, USDC, USDT, EURC)"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"disclosed"}},"attributes_complete":10,"attributes_established":10,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"2026-10-06: takes bitcoin as collateral, read on chain at block 26133621: WBTC 349.59555505 on BLUECHIP; cbBTC 179.02515375 on BLUECHIP; LBTC 8.32612679 on LOMBARD_BTC; WBTC 483.31642416 on MAIN; cbBTC 151.44734043 on MAIN. Operator, 2026-10-06: registered with bitcoin and ether.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":292252804.1588863,"book_as_of":"2026-10-13","peak_book_usd_90d":295202176.0037704,"peak_on":"2026-10-07","days_seen":7},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":22963727,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":1084629,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"arcadia_v2_base","display_name":"Arcadia v2 (Base)","operator":null,"venue_type":"onchain_pooled","chain_id":8453,"family_id":"arcadia_v2","deployment":"Base","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":1856883.8728783333,"book_as_of":"2026-10-13","peak_book_usd_90d":1856883.8728783333,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"asymmetry_usdaf_ethereum","display_name":"Asymmetry USDaf (Ethereum)","operator":null,"venue_type":"onchain_pooled","chain_id":1,"family_id":"asymmetry_usdaf","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-07","peak_book_usd_90d":0,"peak_on":"2026-10-07","days_seen":17},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"avalon_finance_bob","display_name":"Avalon Finance (BOB)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"avalon_finance","deployment":"BOB","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 2 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. chain_id NULL — Bob is not an EVM chain, so it has no chain id. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-07","peak_book_usd_90d":0,"peak_on":"2026-10-07","days_seen":17},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"benqi_lending_avalanche","display_name":"BENQI Lending (Avalanche)","operator":null,"venue_type":"onchain_pooled","chain_id":43114,"family_id":"benqi_lending","deployment":"Avalanche","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/comptroller_forks.json), root from the venue's own published addresses. The Comptroller answers getAllMarkets() with 15 markets and oracle() on an RPC reporting chain id 43114. Bitcoin-symbol markets: qiBTC over WBTC.e, collateral factor 72.5%; qiBTC.b over BTC.b, collateral factor 69%. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC markets (2): WBTC.e, BTC.b"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":17412093.221182246,"book_as_of":"2026-10-13","peak_book_usd_90d":17412093.221182246,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"not_split","assets":null,"debt_usd":464645,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"usd","assets":null,"debt_usd":414195,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"colend_protocol_core","display_name":"Colend Protocol (CORE)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"colend_protocol","deployment":"CORE","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. chain_id NULL — CORE is not an EVM chain, so it has no chain id. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":321812.4,"book_as_of":"2026-10-13","peak_book_usd_90d":498303.06666666665,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"compound_v2_ethereum","display_name":"Compound v2 (Ethereum)","operator":"Compound DAO","venue_type":"onchain_pooled","chain_id":1,"family_id":"compound_v2","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"contract_read","status":"registered","first_block":null,"first_date":"2019-07-22","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Not observed: this venue's rates are not read. It is registered for its collateral history.","validated":false},"quantity":{"level":"partial","reason":"Observed through the venue's own contracts: the supplied amount of its bitcoin reserve, read DAILY at a recorded block since 2026-10-01 and WEEKLY at past blocks back to 2019-07-22. Collateral only — the venue's debt is not read.","validated":false},"composition":{"level":"none","reason":"Not observed: composition is loan-level.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Registered 2026-10-01 (operator: the wrapper chart should reach before 2020, with the venues that held bitcoin then). Compound v2's two cWBTC markets (the 2019 cWBTC, deprecated in 2021, and cWBTC2) — 288.6 WBTC supplied between them on 2026-10-01. Resolved on chain by registry/resolution/2026-10/scripts/resolve_historical_venues.cjs (historical_venues.json). Read WEEKLY at past blocks for the collateral history (credit-state/collateral-history.mjs), and daily for quantity.bcl since 2026-10-01 (collateral only). Criteria cells set 2026-10-01.","market_count":0,"resolved_at":"2026-10-01","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC markets (2): WBTC (cWBTC, 2019) and WBTC (cWBTC2, 2021)"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":null,"collateral_set":["btc"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-07","peak_book_usd_90d":0,"peak_on":"2026-10-07","days_seen":6},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":2826694,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":45976,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"compound_v3_arbitrum","display_name":"Compound v3 (Arbitrum)","operator":"Compound DAO","venue_type":"onchain_pooled","chain_id":42161,"family_id":"compound_v3","deployment":"Arbitrum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":87335242,"first_date":"2023-05-04","backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":false},"quantity":{"level":"full","reason":null,"validated":false},"composition":{"level":"full","reason":null,"validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":4,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC collateral across 4 Comets (markets usdc.e, usdc, usdt, weth): tBTC, WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":12013125.392633831,"book_as_of":"2026-10-13","peak_book_usd_90d":12658353.166666666,"peak_on":"2026-09-22","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":8663056,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":2507,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"compound_v3_base","display_name":"Compound v3 (Base)","operator":"Compound DAO","venue_type":"onchain_pooled","chain_id":8453,"family_id":"compound_v3","deployment":"Base","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":2197594,"first_date":"2023-08-04","backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":false},"quantity":{"level":"full","reason":null,"validated":false},"composition":{"level":"full","reason":null,"validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":4,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC collateral across 4 Comets (markets aero, usdc, usds, weth): cbBTC, tBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":12187473.330258712,"book_as_of":"2026-10-13","peak_book_usd_90d":12569924.75874526,"peak_on":"2026-10-07","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":2642740,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":236980,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"compound_v3_ethereum","display_name":"Compound v3 (Ethereum)","operator":"Compound DAO","venue_type":"onchain_pooled","chain_id":1,"family_id":"compound_v3","deployment":"Ethereum","agent_access":{"state":"none_found","reason":"Probed for a first-party MCP endpoint; none answered.","surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":15331590,"first_date":"2022-08-13","backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":true},"quantity":{"level":"full","reason":null,"validated":false},"composition":{"level":"full","reason":null,"validated":false}},"validation_note":"Rate history is 1,370 distinct supply-days from 2022-10-07 via defi_rates, current. Loan-level ingestion has not started, so quantity and composition stay collecting.","terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"The WBTC-base Comet (0xe85Dc543813B8c2CFEaAc371517b925a166a9293) accepts LBTC and pumpBTC as collateral against a WBTC loan — BTC borrowed against BTC. A genuine BTC-denominated credit market; do not drop it for having a non-stablecoin base. Collateral factors vary far more than expected across the venue (0.375 on Polygon against 0.800 here), so any leverage or risk comparison must read them per market, never per venue.","market_count":5,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC collateral across 5 Comets (USDC, WETH, USDT, USDS, WBTC base): WBTC, cbBTC, tBTC, plus LBTC and pumpBTC in the WBTC-base Comet"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":568250485.4042385,"book_as_of":"2026-10-13","peak_book_usd_90d":568250485.4042385,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":83782160,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":125604,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"compound_v3_optimism","display_name":"Compound v3 (Optimism)","operator":"Compound DAO","venue_type":"onchain_pooled","chain_id":10,"family_id":"compound_v3","deployment":"Optimism","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":118406276,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":false},"quantity":{"level":"partial","reason":"The documented Configurator (0x84E27C74b7996860Cbc76166e105c5B6A2643D45) has no bytecode — verified 2026-07-24 on Optimism and, on re-check, on none of Ethereum, Base, Arbitrum or Polygon either, so it is simply a wrong address rather than a chain-specific quirk. Event enumeration was therefore impossible; the three Comets listed were taken from documentation and verified individually on-chain. A Comet absent from the documented list would not have been found. Resolve the correct Configurator before R5.","validated":false},"composition":{"level":"partial","reason":"The documented Configurator (0x84E27C74b7996860Cbc76166e105c5B6A2643D45) has no bytecode — verified 2026-07-24 on Optimism and, on re-check, on none of Ethereum, Base, Arbitrum or Polygon either, so it is simply a wrong address rather than a chain-specific quirk. Event enumeration was therefore impossible; the three Comets listed were taken from documentation and verified individually on-chain. A Comet absent from the documented list would not have been found. Resolve the correct Configurator before R5.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":3,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC collateral across 3 Comets (markets usdc, usdt, weth): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":2865473.0320892273,"book_as_of":"2026-10-13","peak_book_usd_90d":2887953.3333333335,"peak_on":"2026-09-22","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":1478647,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":63141,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"compound_v3_polygon","display_name":"Compound v3 (Polygon)","operator":"Compound DAO","venue_type":"onchain_pooled","chain_id":137,"family_id":"compound_v3","deployment":"Polygon","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":39412367,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":false},"quantity":{"level":"partial","reason":"Polygon enforces a hard 10,000-block eth_getLogs range, so CometDeployed enumeration was not run. The two Comets listed were taken from documentation and verified individually on-chain; a Comet absent from that list would not have been found. Bounded, not impossible: from the Configurator's own deployment block (39,412,378) to tip is ~5,100 requests, not the genesis-to-tip scan originally assumed. Close this in R5.","validated":false},"composition":{"level":"partial","reason":"Polygon enforces a hard 10,000-block eth_getLogs range, so CometDeployed enumeration was not run. The two Comets listed were taken from documentation and verified individually on-chain; a Comet absent from that list would not have been found. Bounded, not impossible: from the Configurator's own deployment block (39,412,378) to tip is ~5,100 requests, not the genesis-to-tip scan originally assumed. Close this in R5.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":2,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC collateral across 2 Comets (markets usdc, usdt): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":341745.51232114894,"book_as_of":"2026-10-13","peak_book_usd_90d":352906.0333333333,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":850820,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"current_sui","display_name":"Current (Sui)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"current","deployment":"Sui","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed. chain_id NULL — Sui is not an EVM chain. Resolved 2026-09-30 (registry/resolution/2026-09/sui.json): 5 shared market objects of one package, read by object. ⚠ THE ROOT IS THIRD-PARTY: Current's documentation publishes no object ids, so these are the ids the aggregator's adapter reads. The largest bitcoin-named reserve, SVBTC (195 supplied), has no asset_peg row and is collateral only in E-Mode group 14. markets is left EMPTY on purpose: this venue is not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (3): xBTC, wBTC, svBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":51494362.889570974,"book_as_of":"2026-10-13","peak_book_usd_90d":51494362.889570974,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"curvance_monad","display_name":"Curvance (Monad)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"curvance","deployment":"Monad","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. chain_id NULL — Monad is not an EVM chain, so it has no chain id. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":118099.5335857892,"book_as_of":"2026-10-13","peak_book_usd_90d":118099.5335857892,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"btc","assets":["WBTC"],"debt_usd":2689395,"debt_native":32.46513844,"rows":1,"as_of":"2026-10-13","observer":"contract_state"}]}},{"venue_id":"dolomite_arbitrum","display_name":"Dolomite (Arbitrum)","operator":null,"venue_type":"onchain_pooled","chain_id":42161,"family_id":"dolomite","deployment":"Arbitrum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/dolomite.json), root from Dolomite's own documentation. DolomiteMargin on Arbitrum One answers getNumMarkets() = 77 and getMarginRatio() = 0.1500 on an RPC reporting chain id 42161. ⚠ Berachain and Ethereum share one DolomiteMargin address and are two contracts. Cross-margined: an account's borrow is backed by all of its balances. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC markets (1): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":10751157.631676406,"book_as_of":"2026-10-13","peak_book_usd_90d":11590527.766666666,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"dolomite_berachain","display_name":"Dolomite (Berachain)","operator":null,"venue_type":"onchain_pooled","chain_id":80094,"family_id":"dolomite","deployment":"Berachain","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/dolomite.json), root from Dolomite's own documentation. DolomiteMargin on Berachain answers getNumMarkets() = 48 and getMarginRatio() = 0.1500 on an RPC reporting chain id 80094. ⚠ Berachain and Ethereum share one DolomiteMargin address and are two contracts. Cross-margined: an account's borrow is backed by all of its balances. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC markets (2): WBTC, LBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":1993477.3087717406,"book_as_of":"2026-10-13","peak_book_usd_90d":2000517.7666666666,"peak_on":"2026-10-03","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"dolomite_ethereum","display_name":"Dolomite (Ethereum)","operator":null,"venue_type":"onchain_pooled","chain_id":1,"family_id":"dolomite","deployment":"Ethereum","agent_access":{"state":"none_found","reason":"Probed for a first-party MCP endpoint; none answered.","surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/dolomite.json), root from Dolomite's own documentation. DolomiteMargin on Ethereum answers getNumMarkets() = 23 and getMarginRatio() = 0.1765 on an RPC reporting chain id 1. ⚠ Berachain and Ethereum share one DolomiteMargin address and are two contracts. Cross-margined: an account's borrow is backed by all of its balances. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC markets (2): WBTC, cbBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":339025929.6839312,"book_as_of":"2026-10-13","peak_book_usd_90d":339025929.6839312,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"echelon_market_aptos","display_name":"Echelon Market (Aptos)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"echelon_market","deployment":"Aptos","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed. chain_id NULL — Aptos is not an EVM chain, so it has no chain id. Resolved 2026-09-30 through the Aptos fullnode at one ledger version (registry/resolution/2026-09/echelon.json), root from docs.echelon.market developer-documentation: 29 market objects owned by the package; parameters read from market resources and view calls. The package is upgradeable and its module source is not published on chain, so what its functions do is the venue's documentation. Bitcoin: xBTC and WBTC, collateral only (borrow cap zero), both priced off a plain BTC/USD feed. ⚠ A wound-down SBTC market holds 100 units the module cannot price; it is kept out of every total. The chain shows about $12.4m borrowed and the aggregator's rows about $11.9m: they agree. The $9.6m this venue publishes as its book is the dollar-denominated part; the rest is borrowed APT. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced. Operator left NULL rather than guessed.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC markets (2): xBTC, WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":10185830.63659471,"book_as_of":"2026-10-13","peak_book_usd_90d":10195584.37372333,"peak_on":"2026-10-12","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"etherfi_borrowing_optimism","display_name":"EtherFi Borrowing (Optimism)","operator":"ether.fi","venue_type":"onchain_pooled","chain_id":10,"family_id":"etherfi_borrowing","deployment":"Optimism","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"contract_read","status":"registered","first_block":149521228,"first_date":"2026-03-27","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false},"quantity":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false},"composition":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"REGISTERED 2026-10-06 (ether as a second collateral type). Root: github.com/etherfi-protocol/aave-v4 (GitHub fork of aave/aave-v4, main, read 2026-10-06) deployments/optimism/10.json ('ether.fi Cash Aave V4 whitelabel instance — deployed and administered by ether.fi', status live, deployedAt 2026-07-30) and scripts/etherfi/LAUNCH_SPEC.md; cross-listed in github.com/etherfi-protocol/cash-v3 (master, read 2026-10-06) deployments/mainnet/10/deployments.json (AaveV4Hub, AaveV4Spoke, LendGateway) and summer-lend.json.; every other address is the root's own answer, read at block 157847186 on chain 10. Criteria cells, book, reader notes and caveats: registry/resolution/2026-10/ec1_venues.json. Not yet read daily.","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"Multi-asset, cross-collateral. Ether: weETH, WETH, liquidETH. Bitcoin: eBTC (ether.fi's restaked-BTC token), liquidBTC (ether.fi Liquid BTC vault share). Also USDC, USDT, USD₮0, EURC, frxUSD, eUSD (frozen, CF 0), liquidUSD, liquidRESERVE, weEUR, liquidRWA, ETHFI, sETHFI, OP, WHYPE, beHYPE, iwSPYx, iwQQQx, iwTBLLx, iPAXG, iPAXGy, ZCHF."},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"disclosed"}},"attributes_complete":10,"attributes_established":10,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"2026-10-06: takes bitcoin as collateral, read on Optimism at block 157847186: eBTC 15.584 and liquidBTC 102.18 (liquidBTC has no peg verdict and is not counted as bitcoin). Operator, 2026-10-06: registered with bitcoin and ether; one venue over the Aave V4 and legacy engines; Scroll not registered (paused since 2026-04-07; records 20.85m USDC of debt it does not hold).","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":40600842.1228316,"book_as_of":"2026-10-13","peak_book_usd_90d":40600842.1228316,"peak_on":"2026-10-13","days_seen":7},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":17845,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"euler_v2_arbitrum","display_name":"Euler v2 (Arbitrum)","operator":"Euler DAO","venue_type":"onchain_pooled","chain_id":42161,"family_id":"euler_v2","deployment":"Arbitrum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/euler.json), roots from Euler's own registry (euler-interfaces, addresses/42161/CoreAddresses.json): the vault factory lists 162 vaults on Arbitrum One, 18 carrying debt, on an RPC reporting chain id 42161. ⚠ Euler v2 is not a pool: one vault per asset, each accepting other vaults' shares as collateral at its own LTV, under its own oracle, interest rate model and governor. venue_type onchain_pooled is the operator's typing (2026-09-21) and is not changed here. ⚠ 0 vault(s) with debt are fully drawn; those the aggregator lists stay in its feed at a TVL of 0. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (1): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":328086.8915562,"book_as_of":"2026-10-13","peak_book_usd_90d":349392.76666666666,"peak_on":"2026-09-28","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"euler_v2_avalanche","display_name":"Euler v2 (Avalanche)","operator":"Euler DAO","venue_type":"onchain_pooled","chain_id":43114,"family_id":"euler_v2","deployment":"Avalanche","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama) for 50% of the 30-day debt and the venue's own contracts (scripts/direct-reads.mjs) for 50%. The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. The contract reads are daily, at a recorded block. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/euler.json), roots from Euler's own registry (euler-interfaces, addresses/43114/CoreAddresses.json): the vault factory lists 251 vaults on Avalanche C-Chain, 19 carrying debt, on an RPC reporting chain id 43114. ⚠ Euler v2 is not a pool: one vault per asset, each accepting other vaults' shares as collateral at its own LTV, under its own oracle, interest rate model and governor. venue_type onchain_pooled is the operator's typing (2026-09-21) and is not changed here. ⚠ 8 vault(s) with debt are fully drawn. Most stay in the aggregator feed at a TVL of 0; 1 that the feed does not carry (eUSDt-3) are read from the vaults themselves (registry/direct_pools.json, 2026-09-30). markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (2): BTC.b"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":32284731.355817966,"book_as_of":"2026-10-13","peak_book_usd_90d":32284731.355817966,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"euler_v2_base","display_name":"Euler v2 (Base)","operator":"Euler DAO","venue_type":"onchain_pooled","chain_id":8453,"family_id":"euler_v2","deployment":"Base","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/euler.json), roots from Euler's own registry (euler-interfaces, addresses/8453/CoreAddresses.json): the vault factory lists 430 vaults on Base, 60 carrying debt, on an RPC reporting chain id 8453. ⚠ Euler v2 is not a pool: one vault per asset, each accepting other vaults' shares as collateral at its own LTV, under its own oracle, interest rate model and governor. venue_type onchain_pooled is the operator's typing (2026-09-21) and is not changed here. ⚠ 8 vault(s) with debt are fully drawn; those the aggregator lists stay in its feed at a TVL of 0. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (4): cbBTC, LBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":11132682.261877818,"book_as_of":"2026-10-13","peak_book_usd_90d":11269454.996670151,"peak_on":"2026-10-08","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"euler_v2_bsc","display_name":"Euler v2 (BSC)","operator":"Euler DAO","venue_type":"onchain_pooled","chain_id":56,"family_id":"euler_v2","deployment":"BSC","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/euler.json), roots from Euler's own registry (euler-interfaces, addresses/56/CoreAddresses.json): the vault factory lists 185 vaults on BNB Smart Chain, 32 carrying debt, on an RPC reporting chain id 56. ⚠ Euler v2 is not a pool: one vault per asset, each accepting other vaults' shares as collateral at its own LTV, under its own oracle, interest rate model and governor. venue_type onchain_pooled is the operator's typing (2026-09-21) and is not changed here. ⚠ 8 vault(s) with debt are fully drawn; those the aggregator lists stay in its feed at a TVL of 0. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (1): BTCB"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":12321028.37129085,"book_as_of":"2026-10-13","peak_book_usd_90d":12322104.23081881,"peak_on":"2026-10-07","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"euler_v2_ethereum","display_name":"Euler v2 (Ethereum)","operator":"Euler DAO","venue_type":"onchain_pooled","chain_id":1,"family_id":"euler_v2","deployment":"Ethereum","agent_access":{"state":"none_found","reason":"Probed for a first-party MCP endpoint; none answered.","surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama) for 71% of the 30-day debt and the venue's own contracts (scripts/direct-reads.mjs) for 29%. The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. The contract reads are daily, at a recorded block. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not observed: composition is loan-level, and neither the aggregator nor a daily contract read of pool or vault totals gives it. As of 2026-10-01.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/euler.json), roots from Euler's own registry (euler-interfaces, addresses/1/CoreAddresses.json): the vault factory lists 889 vaults on Ethereum, 111 carrying debt, on an RPC reporting chain id 1. ⚠ Euler v2 is not a pool: one vault per asset, each accepting other vaults' shares as collateral at its own LTV, under its own oracle, interest rate model and governor. venue_type onchain_pooled is the operator's typing (2026-09-21) and is not changed here. ⚠ 17 vault(s) with debt are fully drawn. Most stay in the aggregator feed at a TVL of 0; 3 that the feed does not carry (eUSDC-64, eUSDC-47, eUSDC-95) are read from the vaults themselves (registry/direct_pools.json, 2026-09-30). markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (7): xBTC, WBTC, cbBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":38399074.92619401,"book_as_of":"2026-10-13","peak_book_usd_90d":118233069.3,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"euler_v2_hyperliquid_l1","display_name":"Euler v2 (Hyperliquid L1)","operator":"Euler DAO","venue_type":"onchain_pooled","chain_id":999,"family_id":"euler_v2","deployment":"Hyperliquid L1","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/euler.json), roots from Euler's own registry (euler-interfaces, addresses/999/CoreAddresses.json): the vault factory lists 58 vaults on Hyperliquid, 13 carrying debt, on an RPC reporting chain id 999. ⚠ Euler v2 is not a pool: one vault per asset, each accepting other vaults' shares as collateral at its own LTV, under its own oracle, interest rate model and governor. venue_type onchain_pooled is the operator's typing (2026-09-21) and is not changed here. ⚠ 1 vault(s) with debt are fully drawn; those the aggregator lists stay in its feed at a TVL of 0. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (2): UBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":334172.0278491011,"book_as_of":"2026-10-13","peak_book_usd_90d":764129.2666666667,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"euler_v2_monad","display_name":"Euler v2 (Monad)","operator":"Euler DAO","venue_type":"onchain_pooled","chain_id":143,"family_id":"euler_v2","deployment":"Monad","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/euler.json), roots from Euler's own registry (euler-interfaces, addresses/143/CoreAddresses.json): the vault factory lists 134 vaults on Monad, 31 carrying debt, on an RPC reporting chain id 143. ⚠ Euler v2 is not a pool: one vault per asset, each accepting other vaults' shares as collateral at its own LTV, under its own oracle, interest rate model and governor. venue_type onchain_pooled is the operator's typing (2026-09-21) and is not changed here. ⚠ 2 vault(s) with debt are fully drawn; those the aggregator lists stay in its feed at a TVL of 0. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (2): cbBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":126139812.98944843,"book_as_of":"2026-10-13","peak_book_usd_90d":131022368.52489913,"peak_on":"2026-10-04","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"euler_v2_unichain","display_name":"Euler v2 (Unichain)","operator":"Euler DAO","venue_type":"onchain_pooled","chain_id":130,"family_id":"euler_v2","deployment":"Unichain","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. None of this venue's reserves is a pegged bitcoin with a supplied amount today, so it adds nothing to the collateral read. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/euler.json), roots from Euler's own registry (euler-interfaces, addresses/130/CoreAddresses.json): the vault factory lists 50 vaults on Unichain, 16 carrying debt, on an RPC reporting chain id 130. ⚠ Euler v2 is not a pool: one vault per asset, each accepting other vaults' shares as collateral at its own LTV, under its own oracle, interest rate model and governor. venue_type onchain_pooled is the operator's typing (2026-09-21) and is not changed here. ⚠ 0 vault(s) with debt are fully drawn; those the aggregator lists stay in its feed at a TVL of 0. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (1): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":715289.2097838371,"book_as_of":"2026-10-13","peak_book_usd_90d":970216.6666666666,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"exactly_optimism","display_name":"Exactly (Optimism)","operator":null,"venue_type":"onchain_pooled","chain_id":10,"family_id":"exactly","deployment":"Optimism","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 12 bitcoin-collateral market(s), $2M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-07","peak_book_usd_90d":0,"peak_on":"2026-10-07","days_seen":17},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"extra_finance_xlend_base","display_name":"Extra Finance xLend (Base)","operator":null,"venue_type":"onchain_pooled","chain_id":8453,"family_id":"extra_finance_xlend","deployment":"Base","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":382721.56666666665,"book_as_of":"2026-10-13","peak_book_usd_90d":405692.26666666666,"peak_on":"2026-09-24","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"extra_finance_xlend_optimism","display_name":"Extra Finance xLend (Optimism)","operator":null,"venue_type":"onchain_pooled","chain_id":10,"family_id":"extra_finance_xlend","deployment":"Optimism","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-13","peak_book_usd_90d":0,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"fira_ethereum","display_name":"Fira (Ethereum)","operator":null,"venue_type":"onchain_pooled","chain_id":1,"family_id":"fira","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 7 lending market(s), $15M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-01","peak_book_usd_90d":0,"peak_on":"2026-10-01","days_seen":11},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"folks_finance_lending_algorand","display_name":"Folks Finance Lending (Algorand)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"folks_finance_lending","deployment":"Algorand","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 2 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. chain_id NULL — Algorand is not an EVM chain, so it has no chain id. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":3753889.0918923332,"book_as_of":"2026-10-13","peak_book_usd_90d":3753889.0918923332,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"folks_finance_xchain_avalanche","display_name":"Folks Finance xChain (Avalanche)","operator":null,"venue_type":"onchain_pooled","chain_id":43114,"family_id":"folks_finance_xchain","deployment":"Avalanche","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 2 bitcoin-collateral market(s), $1M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":1408016.0333333334,"book_as_of":"2026-10-09","peak_book_usd_90d":1421674.3,"peak_on":"2026-09-21","days_seen":19},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"folks_finance_xchain_base","display_name":"Folks Finance xChain (Base)","operator":null,"venue_type":"onchain_pooled","chain_id":8453,"family_id":"folks_finance_xchain","deployment":"Base","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-07","peak_book_usd_90d":0,"peak_on":"2026-10-07","days_seen":17},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"folks_finance_xchain_ethereum","display_name":"Folks Finance xChain (Ethereum)","operator":null,"venue_type":"onchain_pooled","chain_id":1,"family_id":"folks_finance_xchain","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. None of this venue's reserves is a pegged bitcoin with a supplied amount today, so it adds nothing to the collateral read. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-07","peak_book_usd_90d":0,"peak_on":"2026-10-07","days_seen":17},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"folks_finance_xchain_monad","display_name":"Folks Finance xChain (Monad)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"folks_finance_xchain","deployment":"Monad","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. chain_id NULL — Monad is not an EVM chain, so it has no chain id. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-07","peak_book_usd_90d":0,"peak_on":"2026-10-07","days_seen":17},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"fraxlend_ethereum","display_name":"Fraxlend (Ethereum)","operator":null,"venue_type":"onchain_pooled","chain_id":1,"family_id":"fraxlend","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-13","peak_book_usd_90d":0,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"gearbox_ethereum","display_name":"Gearbox (Ethereum)","operator":null,"venue_type":"onchain_pooled","chain_id":1,"family_id":"gearbox","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 2 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":2347055.3049918744,"book_as_of":"2026-10-13","peak_book_usd_90d":2358593.679358789,"peak_on":"2026-10-08","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"hyperlend_pooled_hyperliquid_l1","display_name":"HyperLend Pooled (Hyperliquid L1)","operator":null,"venue_type":"onchain_pooled","chain_id":999,"family_id":"hyperlend_pooled","deployment":"Hyperliquid L1","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/aave_forks.json), root from HyperLend's own documentation. An Aave v3 deployment: the RPC reports chain id 999, getMarketId() returns \"HyperLend Market\", and Pool.ADDRESSES_PROVIDER() points back. 18 reserves; bitcoin-symbol reserves: UBTC (145.6 supplied). markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): UBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":66519387.28167634,"book_as_of":"2026-10-13","peak_book_usd_90d":96835479.53333333,"peak_on":"2026-09-22","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":1422360,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":65876,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"hypurrfi_pooled_hyperliquid_l1","display_name":"HypurrFi Pooled (Hyperliquid L1)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"hypurrfi_pooled","deployment":"Hyperliquid L1","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 14 lending market(s), $6M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. chain_id NULL — no chain id is recorded for Hyperliquid L1 in this script's table. That means NOT HELD, not \"non-EVM\": the table covers the chains the registry already used, and Plasma, Xlayer, Hyperliquid L1 and others are EVM chains whose ids simply are not in it. Fill from a sourced list, never from recall — a wrong chain id is worse than an absent one. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-13","peak_book_usd_90d":0,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"inverse_finance_firm_ethereum","display_name":"Inverse Finance FiRM (Ethereum)","operator":null,"venue_type":"onchain_pooled","chain_id":1,"family_id":"inverse_finance_firm","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 2 bitcoin-collateral market(s), $1M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-13","peak_book_usd_90d":0,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"justlend_v1_tron","display_name":"JustLend v1 (Tron)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"justlend_v1","deployment":"Tron","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/comptroller_forks.json). The Comptroller answers getAllMarkets() with 24 markets and oracle() on an RPC reporting chain id 728126428. chain_id stays NULL: that column is an EVM chain id, and 728126428 is the id of Tron's Ethereum-compatible JSON-RPC, not an EVM chain. Addresses are Tron base58; the artefact holds the 20-byte form the calls were made to. ⚠ The underlying of jBTC is the TRC20 token NAMED \"Bitcoin\" with symbol BTC — a bridged representation, not native bitcoin. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC markets (2): BTCTRON (Poloniex's wrapped BTC), WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":139930566.43529943,"book_as_of":"2026-10-13","peak_book_usd_90d":139930566.43529943,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"kamino_lend_solana","display_name":"Kamino Lend (Solana)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"kamino_lend","deployment":"Solana","agent_access":{"state":"none_found","reason":"Probed for a first-party MCP endpoint; none answered.","surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed. chain_id NULL — Solana is not an EVM chain, so it has no chain id. Resolved 2026-09-30 (registry/resolution/2026-09/kamino.json) by two observers that are kept apart: Kamino's API lists 44 lending markets, five of them holding a bitcoin-symbol reserve, and Solana RPC confirms each of those market and reserve accounts is owned by the program Kamino publishes (klend README), which is executable under the UPGRADEABLE loader. Nearly all the bitcoin is in the main market (cbBTC, xBTC, fBTC, WBTC, tBTC, about $85m). NOT read: reserve configuration from account data (liquidation threshold, debt term, oracle feeds) — the klend account layout is not decoded here. One registry venue stands for all 44 markets. Operator left NULL rather than guessed. venue_type CORRECTED 2026-09-22 onchain_isolated -> onchain_pooled: each Kamino market is a pooled reserve set (every row is a reserve asset, pool_meta names the market, borrowed_asset is always empty), so the derivation rule misread several markets sharing a symbol as isolated pairs. Typed isolated, no row had a loan asset and every borrow was dropped (empty-venue probe, 2026-09-22).","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves in 5 of 44 markets: cbBTC, fBTC, LBTC, tBTC, WBTC, xBTC, zBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":713746842.1786592,"book_as_of":"2026-10-13","peak_book_usd_90d":752545504.5666667,"peak_on":"2026-09-30","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"kinza_finance_bsc","display_name":"Kinza Finance (BSC)","operator":null,"venue_type":"onchain_pooled","chain_id":56,"family_id":"kinza_finance","deployment":"BSC","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $1M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":824607.3333333334,"book_as_of":"2026-10-13","peak_book_usd_90d":942380,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"layerbank_move","display_name":"LayerBank (Movement)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"layerbank","deployment":"Movement","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. chain_id NULL — Move is not an EVM chain, so it has no chain id. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-07","peak_book_usd_90d":0,"peak_on":"2026-10-07","days_seen":17},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"liquidium_icp","display_name":"Liquidium (ICP)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"liquidium","deployment":"ICP","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $1M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. chain_id NULL — ICP is not an EVM chain, so it has no chain id. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":1231044.8032326335,"book_as_of":"2026-10-13","peak_book_usd_90d":1373382.0333333334,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"maple_ethereum","display_name":"Maple Institutional Secured Lending (Ethereum)","operator":"Maple Labs","venue_type":"onchain_pooled","chain_id":1,"family_id":"maple","deployment":"Ethereum","agent_access":{"state":"routes","routes":[{"url":"https://docs.maple.finance/~gitbook/mcp","auth":"none","kind":"first_party","operator":"Maple Labs","transport":"streamable-http","scope_note":"GitBook-hosted documentation MCP, not a protocol data server. Serves the docs corpus; exposes no book, rate or loan data and prepares no transactions. The venue's data surface is the separate open GraphQL endpoint api.maple.finance/v2/graphql (POST only; a GET returns 404), whose syrupGlobals aggregate covers the syrup pools and NOT this venue.","last_checked":"2026-10-13","documentation":"https://docs.maple.finance/integrate/technical-resources/configure-mcp-server.md"}],"surveyed_on":"2026-09-04"},"rate_mechanism":"bilateral_unpublished","source_type":"contract_read","status":"registered","first_block":19363393,"first_date":"2024-03-04","backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Per-loan interest rate is readable from the loan contracts (OpenTermLoan / FixedTermLoan) and the lender-side rate from the pool. NOT YET INGESTED: the per-loan reader is written and not yet gated.","validated":false},"quantity":{"level":"partial","reason":"Outstanding principal is readable on-chain (principalOut on each loan manager) and was measured at $340,508,005 on 2026-09-04. Distinct counterparties and largest-borrower share are not published by the venue and are not derivable from the pool aggregate. NOT YET INGESTED.","validated":false},"composition":{"level":"none","reason":"Collateral is held OFF-CHAIN in qualified custody and is not observable on-chain in any form. Measured 2026-09-04: collateralAsset() and collateral() are absent from OpenTermLoan (raw eth_call reverts with missing revert data) and the venue's entire live book is open-term — the FixedTermLoanManager, whose contract family does expose those accessors, holds principalOut() = 0. ⚠ CORRECTS the first reading, which read the FixedTermLoan interface and concluded the venue lands in bcd.usd_exact; an interface that exists is not an interface that is used. There is also no published aggregate to bound it with: the only collateral figure Maple publishes is syrupGlobals.collateralValue, which covers the syrup pools and not this venue (see 081). Establishing this venue's bitcoin share therefore requires a disclosure the venue does not currently make, and `none` records that rather than implying a pull that could be built.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"DefiLlama publishes only Maple's three syrup SUPPLY pools (apyBaseBorrow null, absent from /lendBorrow) and does not publish this secured lending book at all, which is why every pool-level sweep missed the venue and only a protocol-level sweep reached it. ⚠ 2026-09-04: composition downgraded partial -> none. Collateral is off-chain in qualified custody; the chain read yields price and quantity per loan and nothing on composition.","market_count":0,"resolved_at":"2026-09-04","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"bilateral_unpublished"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"BTC and ETH (Blue Chip Secured); select digital assets, not enumerated (High Yield Secured)"},"recourse":{"value":"recourse"},"track_record":{"value":"unknown"},"book_depth":{"value":"disclosed"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"moonwell_lending_base","display_name":"Moonwell Lending (Base)","operator":null,"venue_type":"onchain_pooled","chain_id":8453,"family_id":"moonwell_lending","deployment":"Base","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama) for 63% of the 30-day debt and the venue's own contracts (scripts/direct-reads.mjs) for 37%. The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. The contract reads are daily, at a recorded block. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/comptroller_forks.json), root from the venue's own published addresses. The Comptroller answers getAllMarkets() with 21 markets and oracle() on an RPC reporting chain id 8453. Bitcoin-symbol markets: mcbBTC over cbBTC, collateral factor 85%; mtBTC over tBTC, collateral factor 64%; mLBTC over LBTC, collateral factor 80%. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC markets (3): cbBTC, tBTC, LBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":17325576.25886632,"book_as_of":"2026-10-13","peak_book_usd_90d":20539082.618693102,"peak_on":"2026-09-22","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"not_split","assets":null,"debt_usd":1389015,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"usd","assets":null,"debt_usd":1036702,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"moonwell_lending_moonbeam","display_name":"Moonwell Lending (Moonbeam)","operator":null,"venue_type":"onchain_pooled","chain_id":1284,"family_id":"moonwell_lending","deployment":"Moonbeam","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/comptroller_forks.json), root from the venue's own published addresses. The Comptroller answers getAllMarkets() with 12 markets and oracle() on an RPC reporting chain id 1284. Bitcoin-symbol markets: mWBTC over WBTC, collateral factor 0%; mWBTC.wh over WBTC, collateral factor 6%. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC markets (0) at a usable collateral factor"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-13","peak_book_usd_90d":0,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"navi_lending_sui","display_name":"NAVI Lending (Sui)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"navi_lending","deployment":"Sui","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed. chain_id NULL — Sui is not an EVM chain. Resolved 2026-09-30 (registry/resolution/2026-09/sui.json): NAVI's own API names 11 markets, each a shared Storage object of one package, read by object. One registry venue stands for all of them; nearly all the bitcoin is in the Main Market. ⚠ Three coins there carry the symbol WBTC / wBTC, and MBTC (300 supplied) is not asset_peg bitcoin. markets is left EMPTY on purpose: this venue is not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (7): wBTC, LBTC, xBTC, enzoBTC, WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":40216229.51947663,"book_as_of":"2026-10-13","peak_book_usd_90d":40216229.51947663,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"neverland_monad","display_name":"Neverland (Monad)","operator":null,"venue_type":"onchain_pooled","chain_id":143,"family_id":"neverland","deployment":"Monad","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/aave_forks.json), roots from docs.neverland.money/smart-contracts. chain_id CORRECTED null -> 143: Monad is an EVM chain and the RPC reports 143 (the proposer's \"not an EVM chain\" was wrong). An Aave-v3-shaped pool: 13 reserves in the main market, two of them bitcoin (WBTC, cbBTC; base LTV 70%, liquidation threshold 75%). Three isolated markets (Pendle AUSD, Pendle shMON, Yuzu syzUSD) have their own providers and were not read; this one venue stands for all four. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced. Operator left NULL rather than guessed.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (2): WBTC, cbBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":5840363.270279217,"book_as_of":"2026-10-13","peak_book_usd_90d":5840363.270279217,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"save_solana","display_name":"Save (Solana)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"save","deployment":"Solana","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed. chain_id NULL — Solana is not an EVM chain, so it has no chain id. Resolved 2026-09-30 (registry/resolution/2026-09/save.json): Save's API lists 203 lending markets and 603 reserves, and Solana RPC confirms every one is owned by the program Save publishes and DECODES by the published layout — thresholds, oracles and rate curves are read from account data and agree with the API throughout. The program is upgradeable. The only bitcoin reserve that backs borrowing is cbBTC in the Main Pool (about 32 cbBTC supplied). ⚠ Most of the program's book is dead permissionless pools: about $160m borrowed at stored prices, $37m in reserves refreshed within a day — which is what the aggregator's rows hold too ($36.8m). The $20m this venue publishes as its book is the dollar-denominated part; most of the rest is borrowed SOL. ⚠ Interest accrues per slot on a 0.5s slot; slots run near 0.27s, so borrowers pay about 1.87 times the curve's rate. One registry venue stands for all 203 markets. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced. Operator left NULL rather than guessed.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (1): cbBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":20818882.87478667,"book_as_of":"2026-10-13","peak_book_usd_90d":32267531.766666666,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"scallop_lend_sui","display_name":"Scallop Lend (Sui)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"scallop_lend","deployment":"Sui","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 21 lending market(s), $6M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. chain_id NULL — no chain id is recorded for Sui in this script's table. That means NOT HELD, not \"non-EVM\": the table covers the chains the registry already used, and Plasma, Xlayer, Hyperliquid L1 and others are EVM chains whose ids simply are not in it. Fill from a sourced list, never from recall — a wrong chain id is worse than an absent one. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":858331.424622657,"book_as_of":"2026-10-13","peak_book_usd_90d":858331.424622657,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"silo_v2_avalanche","display_name":"Silo v2 (Avalanche)","operator":null,"venue_type":"onchain_pooled","chain_id":43114,"family_id":"silo_v2","deployment":"Avalanche","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. None of this venue's reserves is a pegged bitcoin with a supplied amount today, so it adds nothing to the collateral read. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"silo_v2_sonic","display_name":"Silo v2 (Sonic)","operator":null,"venue_type":"onchain_pooled","chain_id":146,"family_id":"silo_v2","deployment":"Sonic","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. None of this venue's reserves is a pegged bitcoin with a supplied amount today, so it adds nothing to the collateral read. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 2 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-13","peak_book_usd_90d":0,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"spark_ethereum","display_name":"SparkLend (Ethereum)","operator":"Spark","venue_type":"onchain_pooled","chain_id":1,"family_id":"spark","deployment":"Ethereum","agent_access":{"state":"none_found","reason":"Probed for a first-party MCP endpoint; none answered.","surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator. Composition is loan-level and requires event ingestion, which is parked for this venue — the aggregator publishes pool totals, not positions.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Aave v3 fork, pooled and multi-collateral. NOTE the rate mechanism is not uniform across its markets: the BTC markets price off a utilisation curve, while the stablecoin side is anchored by Sky governance rather than by utilisation — `algorithmic_utilisation` is correct for the BTC markets this surface reads and is overstated for the stablecoin legs. Resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/aave_forks.json), roots from Spark's own address registry (marsfoundation/spark-address-registry, SparkLend.sol): chain id 1, getMarketId() returns \"Spark Protocol\", 20 reserves, four of them bitcoin — WBTC (LTV 77%, threshold 78%, not borrowable), cbBTC (81% / 82%, borrowable), LBTC (LTV 0, threshold 75%, not borrowable) and tBTC (LTV 0, threshold 70%, FROZEN). An LTV of 0 gives no new borrowing power; the threshold still governs positions already open. markets is left EMPTY on purpose: this deployment is not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (4): cbBTC, LBTC, tBTC, WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":2756551487.4501576,"book_as_of":"2026-10-13","peak_book_usd_90d":2756551487.4501576,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":258077617,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":190296,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"takara_lend_sei","display_name":"Takara Lend (Sei)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"takara_lend","deployment":"Sei","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $3M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. chain_id NULL — Sei is not an EVM chain, so it has no chain id. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":1823920.7629459035,"book_as_of":"2026-10-13","peak_book_usd_90d":1823920.7629459035,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"tectonic_cronos","display_name":"Tectonic (Cronos)","operator":null,"venue_type":"onchain_pooled","chain_id":25,"family_id":"tectonic","deployment":"Cronos","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/comptroller_forks.json): a Compound-v2-shaped pool, 18 markets in the main pool, two of them bitcoin (WBTC at a 75% collateral factor, CDCBTC at 70%). ⚠ The address Tectonic's docs call \"TectonicCore Proxy\" (0x7De5…3a48) lists no markets and names no oracle; the core recorded here is the one the published tWBTC names by tectonicCore(), which the docs list as TectonicSocket (Main Pool). The Veno and DeFi pools have their own cores and were not read. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced. REPORTED, NOT VERIFIED HERE: bitquery.io/investigations/tectonic-exploit-120-million describes an oracle-manipulation drain of these markets on 2026-08-30 that a Cronos chain rewind reversed. Operator left NULL rather than guessed.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC markets (2): WBTC, CDCBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":6424455.443609092,"book_as_of":"2026-10-13","peak_book_usd_90d":50001608.333333336,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":1630285,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":20317,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"tender_finance_arbitrum","display_name":"Tender Finance (Arbitrum)","operator":null,"venue_type":"onchain_pooled","chain_id":42161,"family_id":"tender_finance","deployment":"Arbitrum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":395579.3333333333,"book_as_of":"2026-10-13","peak_book_usd_90d":395722.6666666667,"peak_on":"2026-10-12","days_seen":23},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"tydro_ink","display_name":"Tydro (Ink)","operator":null,"venue_type":"onchain_pooled","chain_id":57073,"family_id":"tydro","deployment":"Ink","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/aave_forks.json), root from the Aave address book (AaveV3InkWhitelabel.sol). An Aave v3 deployment: the RPC reports chain id 57073, getMarketId() returns \"Aave V3 Ink Whitelabel Market\", and Pool.ADDRESSES_PROVIDER() points back. 14 reserves; bitcoin-symbol reserves: kBTC (1084.1 supplied), SolvBTC (76.5 supplied). markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (2): kBTC, SolvBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":60888227.88067964,"book_as_of":"2026-10-13","peak_book_usd_90d":60888227.88067964,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":54456934,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":26572,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"venus_core_pool_bsc","display_name":"Venus Core Pool (BSC)","operator":null,"venue_type":"onchain_pooled","chain_id":56,"family_id":"venus_core_pool","deployment":"BSC","agent_access":{"state":"none_found","reason":"Probed for a first-party MCP endpoint; none answered.","surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/comptroller_forks.json). The Comptroller answers getAllMarkets() with 55 markets and oracle() on an RPC reporting chain id 56. ⚠ The market list includes BCH (\"Bitcoin Cash Token\"), which matches a search for \"bitcoin\" and is a different asset. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC markets (2): BTCB, SolvBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":212496680.6203499,"book_as_of":"2026-10-13","peak_book_usd_90d":212496680.6203499,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":null,"debt_usd":84082921,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"},{"currency":"not_split","assets":null,"debt_usd":63845861,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"pool_read"}]}},{"venue_id":"zentra_finance_citrea","display_name":"Zentra Finance (Citrea)","operator":null,"venue_type":"onchain_pooled","chain_id":null,"family_id":"zentra_finance","deployment":"Citrea","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"registered","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Observed through the aggregator (DefiLlama) until 2026-09-18; it has published no priced pool for this venue since, so nothing is observed now. As of 2026-10-01.","validated":false},"quantity":{"level":"none","reason":"Observed through the aggregator (DefiLlama) until 2026-09-18; nothing is observed now. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 3 lending market(s), $1M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. chain_id NULL — no chain id is recorded for Citrea in this script's table. That means NOT HELD, not \"non-EVM\": the table covers the chains the registry already used, and Plasma, Xlayer, Hyperliquid L1 and others are EVM chains whose ids simply are not in it. Fill from a sourced list, never from recall — a wrong chain id is worse than an absent one. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":1185447.4444444445,"book_as_of":"2026-09-21","peak_book_usd_90d":1185447.4444444445,"peak_on":"2026-09-21","days_seen":1},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"curve_llamalend_arbitrum","display_name":"Curve LlamaLend (Arbitrum)","operator":"Curve DAO","venue_type":"onchain_isolated","chain_id":42161,"family_id":"curve_llamalend","deployment":"Arbitrum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/curve.json). Candidates are the 25 lending markets Curve's API lists on Arbitrum One; 7 take a bitcoin-symbol collateral and each Controller confirmed its tokens on an RPC reporting chain id 42161. A market the API does not list is not found. One collateral and one borrowed asset per market; liquidation is soft. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"soft"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC-collateral markets with 1,000 crvUSD or more of debt (2): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-13","peak_book_usd_90d":0,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["CRVUSD"],"debt_usd":69395,"debt_native":null,"rows":2,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"curve_llamalend_ethereum","display_name":"Curve LlamaLend (Ethereum)","operator":"Curve DAO","venue_type":"onchain_isolated","chain_id":1,"family_id":"curve_llamalend","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/curve.json). Candidates are the 52 lending markets Curve's API lists on Ethereum; 7 take a bitcoin-symbol collateral and each Controller confirmed its tokens on an RPC reporting chain id 1. A market the API does not list is not found. One collateral and one borrowed asset per market; liquidation is soft. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"soft"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC-collateral markets with 1,000 crvUSD or more of debt (2): WBTC, tBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":70535915.02300654,"book_as_of":"2026-10-13","peak_book_usd_90d":70535915.02300654,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["CRVUSD"],"debt_usd":2705446,"debt_native":null,"rows":3,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"curve_llamalend_optimism","display_name":"Curve LlamaLend (Optimism)","operator":"Curve DAO","venue_type":"onchain_isolated","chain_id":10,"family_id":"curve_llamalend","deployment":"Optimism","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/curve.json). Candidates are the 8 lending markets Curve's API lists on OP Mainnet; 2 take a bitcoin-symbol collateral and each Controller confirmed its tokens on an RPC reporting chain id 10. A market the API does not list is not found. One collateral and one borrowed asset per market; liquidation is soft. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"soft"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC-collateral markets with 1,000 crvUSD or more of debt (1): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-13","peak_book_usd_90d":413784.8,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["USDC"],"debt_usd":64845,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"fluid_lending_arbitrum","display_name":"Fluid Lending (Arbitrum)","operator":null,"venue_type":"onchain_isolated","chain_id":42161,"family_id":"fluid_lending","deployment":"Arbitrum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the venue's own contracts (scripts/direct-reads.mjs) for >99% of the 30-day debt and the aggregator (DefiLlama) for <1%. The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. The contract reads are daily, at a recorded block. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the venue's own contracts (scripts/direct-reads.mjs): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Each row names its observer. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/fluid.json), roots from Instadapp's published deployments. ⚠ Liquidity and VaultFactory sit at the same two addresses on every chain and are read on each chain separately. The factory reports 95 vaults on Arbitrum One (chain id 42161); Fluid's API lists 61, 5 with a bitcoin-symbol supply token, each confirmed by constantsView(). A vault the API does not list is not found. Every token sits in the one Liquidity contract; vaults are accounts on it. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (5): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":76073331.27594782,"book_as_of":"2026-10-13","peak_book_usd_90d":78034734.11270028,"peak_on":"2026-10-01","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["GHO","USDC","USDT0"],"debt_usd":3363456,"debt_native":null,"rows":3,"as_of":"2026-10-13","observer":"contract_read"},{"currency":"eth","assets":["ETH"],"debt_usd":59887,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"fluid_lending_base","display_name":"Fluid Lending (Base)","operator":null,"venue_type":"onchain_isolated","chain_id":8453,"family_id":"fluid_lending","deployment":"Base","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the venue's own contracts (scripts/direct-reads.mjs). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. The contract reads are daily, at a recorded block. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the venue's own contracts (scripts/direct-reads.mjs): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Each row names its observer. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/fluid.json), roots from Instadapp's published deployments. ⚠ Liquidity and VaultFactory sit at the same two addresses on every chain and are read on each chain separately. The factory reports 50 vaults on Base (chain id 8453); Fluid's API lists 33, 6 with a bitcoin-symbol supply token, each confirmed by constantsView(). A vault the API does not list is not found. Every token sits in the one Liquidity contract; vaults are accounts on it. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (5): cbBTC, LBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":12769753.588304415,"book_as_of":"2026-10-13","peak_book_usd_90d":12769753.588304415,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["GHO","USDC"],"debt_usd":1831301,"debt_native":null,"rows":3,"as_of":"2026-10-13","observer":"contract_read"},{"currency":"eur","assets":["EURC"],"debt_usd":596843,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"contract_read"},{"currency":"eth","assets":["ETH"],"debt_usd":285676,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"fluid_lending_ethereum","display_name":"Fluid Lending (Ethereum)","operator":null,"venue_type":"onchain_isolated","chain_id":1,"family_id":"fluid_lending","deployment":"Ethereum","agent_access":{"state":"none_found","reason":"Probed for a first-party MCP endpoint; none answered.","surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the venue's own contracts (scripts/direct-reads.mjs) for >99% of the 30-day debt and the aggregator (DefiLlama) for <1%. The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. The contract reads are daily, at a recorded block. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the venue's own contracts (scripts/direct-reads.mjs): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Each row names its observer. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/fluid.json), roots from Instadapp's published deployments. ⚠ Liquidity and VaultFactory sit at the same two addresses on every chain and are read on each chain separately. The factory reports 182 vaults on Ethereum (chain id 1); Fluid's API lists 129, 26 with a bitcoin-symbol supply token, each confirmed by constantsView(). A vault the API does not list is not found. Every token sits in the one Liquidity contract; vaults are accounts on it. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (22): WBTC, cbBTC, tBTC, eBTC, LBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":379033891.4188469,"book_as_of":"2026-10-13","peak_book_usd_90d":403757972.4735227,"peak_on":"2026-10-01","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["GHO","USDC","USDT","USDTB"],"debt_usd":23098147,"debt_native":null,"rows":10,"as_of":"2026-10-13","observer":"contract_read"},{"currency":"eth","assets":["ETH"],"debt_usd":83802,"debt_native":null,"rows":2,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"fluid_lending_polygon","display_name":"Fluid Lending (Polygon)","operator":null,"venue_type":"onchain_isolated","chain_id":137,"family_id":"fluid_lending","deployment":"Polygon","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the venue's own contracts (scripts/direct-reads.mjs) for >99% of the 30-day debt and the aggregator (DefiLlama) for <1%. The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. The contract reads are daily, at a recorded block. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the venue's own contracts (scripts/direct-reads.mjs): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Each row names its observer. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/fluid.json), roots from Instadapp's published deployments. ⚠ Liquidity and VaultFactory sit at the same two addresses on every chain and are read on each chain separately. The factory reports 29 vaults on Polygon PoS (chain id 137); Fluid's API lists 20, 5 with a bitcoin-symbol supply token, each confirmed by constantsView(). A vault the API does not list is not found. Every token sits in the one Liquidity contract; vaults are accounts on it. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (4): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":566488.4843763385,"book_as_of":"2026-10-13","peak_book_usd_90d":568212.014205609,"peak_on":"2026-10-12","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["AUSD","USDC","USDT0"],"debt_usd":605210,"debt_native":null,"rows":3,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"jupiter_lend_solana","display_name":"Jupiter Lend (Solana)","operator":null,"venue_type":"onchain_isolated","chain_id":null,"family_id":"jupiter_lend","deployment":"Solana","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.jup.ag/","server_name":"jup-mcp","tools_observed":75,"not_listed_because":"Criterion 2 not yet verified: operator documentation for this endpoint has not been confirmed.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama) for 93% of the 30-day debt and Jupiter's own API for 7%. The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. The venue API is the venue's own publication, not an on-chain read. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama) and Jupiter's own API: bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Each row names its observer. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed. chain_id NULL — Solana is not an EVM chain, so it has no chain id. Resolved 2026-09-30 (registry/resolution/2026-09/jupiter.json) by two observers that are kept apart: Jupiter's API lists 82 borrow vaults, 20 with a bitcoin-symbol collateral (cbBTC, WBTC, xBTC, LBTC; about $12.7m of debt), and Solana RPC confirms every vault account is owned by the Vaults program Jupiter publishes, which is executable under the UPGRADEABLE loader. NOT read: vault configuration from account data — thresholds, oracle and totals are the API's. venue_type isolated stands: a vault takes one collateral and lends one asset (Fluid's design), over one Liquidity program that holds the tokens. ⚠ OBSERVER CHANGE 2026-09-30: DefiLlama dropped 71 of the venue's 73 pools on 2026-09-27, keeping only the Ethena Market pair; from 2026-09-30 the 82 vaults are read from Jupiter's own API by scripts/direct-reads.mjs (registry/direct_pools.json, series_origin venue_api_jupiter — a venue API, not a contract read). A vault the feed carried keeps the feed's pool id, so its history and its new reads are one pool, the observer named on each row. 2026-09-27 to 2026-09-29 hold only the two pools the feed kept. source_type is left aggregator: the Ethena Market pools and all history before 2026-09-27 are the aggregator's. Operator and first_date left NULL rather than guessed.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (17): cbBTC, WBTC, xBTC, LBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":400238405.81102633,"book_as_of":"2026-10-13","peak_book_usd_90d":428228503.1,"peak_on":"2026-09-26","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["USDC","USDG","USDS","USDT"],"debt_usd":11336417,"debt_native":null,"rows":12,"as_of":"2026-10-13","observer":"contract_read"},{"currency":"eur","assets":["EURC"],"debt_usd":716562,"debt_native":null,"rows":3,"as_of":"2026-10-13","observer":"contract_read"},{"currency":"btc","assets":["cbBTC"],"debt_usd":297421,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"contract_read"},{"currency":"unresolved","assets":["JupUSD","WSOL"],"debt_usd":104299,"debt_native":null,"rows":4,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"morpho_blue_arbitrum","display_name":"Morpho Blue (Arbitrum)","operator":"Morpho Labs","venue_type":"onchain_isolated","chain_id":42161,"family_id":"morpho_blue","deployment":"Arbitrum","agent_access":{"state":"routes","routes":[{"url":"https://mcp.morpho.org/","auth":"none","kind":"first_party","operator":"Morpho","transport":"streamable-http","scope_note":"Prepares unsigned payloads only. The operator states: \"Nothing signs and nothing broadcasts.\"","chain_match":"registry id suffix matched the server's own supported-chain slug","last_checked":"2026-10-13","reachable_on":"2026-08-30","documentation":"https://docs.morpho.org/developers/agents/get-started/","tools_observed":{"read":10,"total":18,"submits":0,"prepares_transactions":8}}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/morpho_chains.json). Roots are Morpho's own registry (morpho-org/sdks, morpho-ts addresses.ts and chain.ts). ⚠ The core is NOT 0xBBBB…FFCb here — that address is Ethereum and Base only; on Arbitrum One it is 0x6c247b1F6182318877311737BaC0844bAa518F5e. The RPC reports chain id 42161, the core answers owner() and feeRecipient(), and isIrmEnabled(adaptiveCurveIrm) is true. 3 bitcoin-symbol market(s) carry $1,000 or more of debt, each confirmed with idToMarketParams(id); candidates come from Morpho's API, so a market it does not list is not found. markets is left EMPTY on purpose: this deployment's events are not ingested.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC-collateral markets with $1,000 or more of debt (2): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":9459624.704717534,"book_as_of":"2026-10-13","peak_book_usd_90d":9850044.733333334,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["USDC","USDT0"],"debt_usd":2530008,"debt_native":null,"rows":2,"as_of":"2026-10-13","observer":"venue_api_morpho"}]}},{"venue_id":"morpho_blue_base","display_name":"Morpho Blue (Base)","operator":"Morpho Labs","venue_type":"onchain_isolated","chain_id":8453,"family_id":"morpho_blue","deployment":"Base","agent_access":{"state":"routes","routes":[{"url":"https://mcp.morpho.org/","auth":"none","kind":"first_party","operator":"Morpho","transport":"streamable-http","scope_note":"Prepares unsigned payloads only. The operator states: \"Nothing signs and nothing broadcasts.\"","chain_match":"registry id suffix matched the server's own supported-chain slug","last_checked":"2026-10-13","reachable_on":"2026-08-30","documentation":"https://docs.morpho.org/developers/agents/get-started/","tools_observed":{"read":10,"total":18,"submits":0,"prepares_transactions":8}}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":13977148,"first_date":"2024-05-03","backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":true},"quantity":{"level":"full","reason":null,"validated":true},"composition":{"level":"full","reason":null,"validated":true}},"validation_note":"R3 Gate 4 exact on all 190 active markets; Gate 6 reconciled the cumulative flow identity against an independent contract-state read at $18 on $2.04bn (0.00 bps, both chains); R7 Gate 7 found 120 of 120 intermediate rate spans exact at zero tolerance.","terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Isolated markets keyed by marketId give a clean partition, which is why it was built first. The cost is that the BTC universe has to be curated: a /btc/i symbol match over this venue returns 324 markets of which 79 are Pendle principal tokens, spam, other venues' receipts, LP positions or lookalikes.","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC representations (3 in scope): cbBTC, LBTC, uniBTC, and 0 single-market others"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":2060522038.1761932,"book_as_of":"2026-10-13","peak_book_usd_90d":2060522038.1761932,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["USDC"],"debt_usd":1565815715,"debt_native":1565815715.332604,"rows":2,"as_of":"2026-10-13","observer":"contract_state"},{"currency":"eur","assets":["EURC"],"debt_usd":4489724,"debt_native":4015494.486365,"rows":1,"as_of":"2026-10-13","observer":"contract_state"},{"currency":"btc","assets":["cbBTC"],"debt_usd":721252,"debt_native":8.70579066,"rows":2,"as_of":"2026-10-13","observer":"contract_state"},{"currency":"eth","assets":["WETH"],"debt_usd":270929,"debt_native":110.4279125097407,"rows":1,"as_of":"2026-10-13","observer":"contract_state"}]}},{"venue_id":"morpho_blue_ethereum","display_name":"Morpho Blue (Ethereum)","operator":"Morpho Labs","venue_type":"onchain_isolated","chain_id":1,"family_id":"morpho_blue","deployment":"Ethereum","agent_access":{"state":"routes","routes":[{"url":"https://mcp.morpho.org/","auth":"none","kind":"first_party","operator":"Morpho","transport":"streamable-http","scope_note":"Prepares unsigned payloads only. The operator states: \"Nothing signs and nothing broadcasts.\"","chain_match":"registry id suffix matched the server's own supported-chain slug","last_checked":"2026-10-13","reachable_on":"2026-08-30","documentation":"https://docs.morpho.org/developers/agents/get-started/","tools_observed":{"read":10,"total":18,"submits":0,"prepares_transactions":8}}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":18883124,"first_date":"2023-12-28","backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":true},"quantity":{"level":"full","reason":null,"validated":true},"composition":{"level":"full","reason":null,"validated":true}},"validation_note":"R3 Gate 4 exact on all 190 active markets; Gate 6 reconciled the cumulative flow identity against an independent contract-state read at $18 on $2.04bn (0.00 bps, both chains); R7 Gate 7 found 120 of 120 intermediate rate spans exact at zero tolerance.","terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Isolated markets keyed by marketId give a clean partition, which is why it was built first. The cost is that the BTC universe has to be curated: a /btc/i symbol match over this venue returns 324 markets of which 79 are Pendle principal tokens, spam, other venues' receipts, LP positions or lookalikes.","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC representations (26 in scope): cbBTC, WBTC, LBTC, tBTC, eBTC, hemiBTC, uniBTC, BGBTC, sBTCD, kBTC, SolvBTC, pumpBTC, mBTC, tacBTC, mHyperBTC, and 11 single-market others"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":2359487933.867784,"book_as_of":"2026-10-13","peak_book_usd_90d":2359487933.867784,"peak_on":"2026-10-13","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["PYUSD","RLUSD","USDC","USDS","USDT"],"debt_usd":921931137,"debt_native":null,"rows":18,"as_of":"2026-10-13","observer":"contract_state"},{"currency":"eur","assets":["EURC","EURCV"],"debt_usd":24282766,"debt_native":null,"rows":5,"as_of":"2026-10-13","observer":"contract_state"},{"currency":"btc","assets":["WBTC"],"debt_usd":666794,"debt_native":8.04845726,"rows":1,"as_of":"2026-10-13","observer":"contract_state"}]}},{"venue_id":"morpho_blue_hyperliquid_l1","display_name":"Morpho Blue (Hyperliquid L1)","operator":"Morpho Labs","venue_type":"onchain_isolated","chain_id":999,"family_id":"morpho_blue","deployment":"Hyperliquid L1","agent_access":{"state":"unresolved","reason":"An operator MCP exists for this protocol (https://mcp.morpho.org/) but its supported-chain list does not name this registry row's chain under a matching slug. Resolving the correspondence is a publisher-normalisation question, and this dataset does not guess it.","surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/morpho_chains.json). Roots are Morpho's own registry (morpho-org/sdks, morpho-ts addresses.ts and chain.ts). ⚠ The core is NOT 0xBBBB…FFCb here — that address is Ethereum and Base only; on Hyperliquid it is 0x68e37dE8d93d3496ae143F2E900490f6280C57cD. The RPC reports chain id 999, the core answers owner() and feeRecipient(), and isIrmEnabled(adaptiveCurveIrm) is true. 5 bitcoin-symbol market(s) carry $1,000 or more of debt, each confirmed with idToMarketParams(id); candidates come from Morpho's API, so a market it does not list is not found. ⚠ SETTING chain_id HAS A CONSEQUENCE: ingestors/morpho-market-rates.js maps Morpho's API markets to a venue by chain_id, so from the next run this venue receives gate-checked venue-API rows (rates, collateral, LLTV) it did not receive while the id was NULL. markets is left EMPTY on purpose: this deployment's events are not ingested.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC-collateral markets with $1,000 or more of debt (5): UBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":43261494.74497267,"book_as_of":"2026-10-13","peak_book_usd_90d":69013901.4,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["USD₮0","USDC"],"debt_usd":1600416,"debt_native":null,"rows":2,"as_of":"2026-10-13","observer":"venue_api_morpho"}]}},{"venue_id":"morpho_blue_katana","display_name":"Morpho Blue (Katana)","operator":"Morpho Labs","venue_type":"onchain_isolated","chain_id":747474,"family_id":"morpho_blue","deployment":"Katana","agent_access":{"state":"routes","routes":[{"url":"https://mcp.morpho.org/","auth":"none","kind":"first_party","operator":"Morpho","transport":"streamable-http","scope_note":"Prepares unsigned payloads only. The operator states: \"Nothing signs and nothing broadcasts.\"","chain_match":"registry id suffix matched the server's own supported-chain slug","last_checked":"2026-10-13","reachable_on":"2026-08-30","documentation":"https://docs.morpho.org/developers/agents/get-started/","tools_observed":{"read":10,"total":18,"submits":0,"prepares_transactions":8}}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/morpho_chains.json). Roots are Morpho's own registry (morpho-org/sdks, morpho-ts addresses.ts and chain.ts). ⚠ The core is NOT 0xBBBB…FFCb here — that address is Ethereum and Base only; on Katana it is 0xD50F2DffFd62f94Ee4AEd9ca05C61d0753268aBc. The RPC reports chain id 747474, the core answers owner() and feeRecipient(), and isIrmEnabled(adaptiveCurveIrm) is true. 6 bitcoin-symbol market(s) carry $1,000 or more of debt, each confirmed with idToMarketParams(id); candidates come from Morpho's API, so a market it does not list is not found. ⚠ SETTING chain_id HAS A CONSEQUENCE: ingestors/morpho-market-rates.js maps Morpho's API markets to a venue by chain_id, so from the next run this venue receives gate-checked venue-API rows (rates, collateral, LLTV) it did not receive while the id was NULL. markets is left EMPTY on purpose: this deployment's events are not ingested.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC-collateral markets with $1,000 or more of debt (6): vbWBTC, yvvbWBTC, LBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":16469350.342858858,"book_as_of":"2026-10-13","peak_book_usd_90d":22843143.066666666,"peak_on":"2026-09-22","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["vbUSDC"],"debt_usd":7127981,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"venue_api_morpho"}]}},{"venue_id":"morpho_blue_monad","display_name":"Morpho Blue (Monad)","operator":"Morpho Labs","venue_type":"onchain_isolated","chain_id":143,"family_id":"morpho_blue","deployment":"Monad","agent_access":{"state":"routes","routes":[{"url":"https://mcp.morpho.org/","auth":"none","kind":"first_party","operator":"Morpho","transport":"streamable-http","scope_note":"Prepares unsigned payloads only. The operator states: \"Nothing signs and nothing broadcasts.\"","chain_match":"registry id suffix matched the server's own supported-chain slug","last_checked":"2026-10-13","reachable_on":"2026-08-30","documentation":"https://docs.morpho.org/developers/agents/get-started/","tools_observed":{"read":10,"total":18,"submits":0,"prepares_transactions":8}}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/morpho_chains.json). Roots are Morpho's own registry (morpho-org/sdks, morpho-ts addresses.ts and chain.ts). ⚠ The core is NOT 0xBBBB…FFCb here — that address is Ethereum and Base only; on Monad it is 0xD5D960E8C380B724a48AC59E2DfF1b2CB4a1eAee. The RPC reports chain id 143, the core answers owner() and feeRecipient(), and isIrmEnabled(adaptiveCurveIrm) is true. 6 bitcoin-symbol market(s) carry $1,000 or more of debt, each confirmed with idToMarketParams(id); candidates come from Morpho's API, so a market it does not list is not found. ⚠ SETTING chain_id HAS A CONSEQUENCE: ingestors/morpho-market-rates.js maps Morpho's API markets to a venue by chain_id, so from the next run this venue receives gate-checked venue-API rows (rates, collateral, LLTV) it did not receive while the id was NULL. markets is left EMPTY on purpose: this deployment's events are not ingested.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC-collateral markets with $1,000 or more of debt (3): WBTC, cbBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":129486988.40918997,"book_as_of":"2026-10-13","peak_book_usd_90d":130890015.33728677,"peak_on":"2026-10-07","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["AUSD","USDC"],"debt_usd":140999,"debt_native":null,"rows":3,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"morpho_blue_optimism","display_name":"Morpho Blue (Optimism)","operator":"Morpho Labs","venue_type":"onchain_isolated","chain_id":10,"family_id":"morpho_blue","deployment":"Optimism","agent_access":{"state":"routes","routes":[{"url":"https://mcp.morpho.org/","auth":"none","kind":"first_party","operator":"Morpho","transport":"streamable-http","scope_note":"Prepares unsigned payloads only. The operator states: \"Nothing signs and nothing broadcasts.\"","chain_match":"registry id suffix matched the server's own supported-chain slug","last_checked":"2026-10-13","reachable_on":"2026-08-30","documentation":"https://docs.morpho.org/developers/agents/get-started/","tools_observed":{"read":10,"total":18,"submits":0,"prepares_transactions":8}}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/morpho_chains.json). Roots are Morpho's own registry (morpho-org/sdks, morpho-ts addresses.ts and chain.ts). ⚠ The core is NOT 0xBBBB…FFCb here — that address is Ethereum and Base only; on OP Mainnet it is 0xce95AfbB8EA029495c66020883F87aaE8864AF92. The RPC reports chain id 10, the core answers owner() and feeRecipient(), and isIrmEnabled(adaptiveCurveIrm) is true. 1 bitcoin-symbol market(s) carry $1,000 or more of debt, each confirmed with idToMarketParams(id); candidates come from Morpho's API, so a market it does not list is not found. markets is left EMPTY on purpose: this deployment's events are not ingested.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC-collateral markets with $1,000 or more of debt (1): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":2857409.0677696024,"book_as_of":"2026-10-13","peak_book_usd_90d":2858685.6659797174,"peak_on":"2026-10-12","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["USDC"],"debt_usd":435651,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"venue_api_morpho"}]}},{"venue_id":"morpho_blue_polygon","display_name":"Morpho Blue (Polygon)","operator":"Morpho Labs","venue_type":"onchain_isolated","chain_id":137,"family_id":"morpho_blue","deployment":"Polygon","agent_access":{"state":"routes","routes":[{"url":"https://mcp.morpho.org/","auth":"none","kind":"first_party","operator":"Morpho","transport":"streamable-http","scope_note":"Prepares unsigned payloads only. The operator states: \"Nothing signs and nothing broadcasts.\"","chain_match":"registry id suffix matched the server's own supported-chain slug","last_checked":"2026-10-13","reachable_on":"2026-08-30","documentation":"https://docs.morpho.org/developers/agents/get-started/","tools_observed":{"read":10,"total":18,"submits":0,"prepares_transactions":8}}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/morpho_chains.json). Roots are Morpho's own registry (morpho-org/sdks, morpho-ts addresses.ts and chain.ts). ⚠ The core is NOT 0xBBBB…FFCb here — that address is Ethereum and Base only; on Polygon it is 0x1bF0c2541F820E775182832f06c0B7Fc27A25f67. The RPC reports chain id 137, the core answers owner() and feeRecipient(), and isIrmEnabled(adaptiveCurveIrm) is true. 4 bitcoin-symbol market(s) carry $1,000 or more of debt, each confirmed with idToMarketParams(id); candidates come from Morpho's API, so a market it does not list is not found. markets is left EMPTY on purpose: this deployment's events are not ingested.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC-collateral markets with $1,000 or more of debt (4): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":742490.7842622667,"book_as_of":"2026-10-13","peak_book_usd_90d":778929.6,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["USDC","USDT0"],"debt_usd":700157,"debt_native":null,"rows":2,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"morpho_blue_tempo","display_name":"Morpho Blue (Tempo)","operator":"Morpho Labs","venue_type":"onchain_isolated","chain_id":4217,"family_id":"morpho_blue","deployment":"Tempo","agent_access":{"state":"unresolved","reason":"An operator MCP exists for this protocol (https://mcp.morpho.org/) but its supported-chain list does not name this registry row's chain under a matching slug. Resolving the correspondence is a publisher-normalisation question, and this dataset does not guess it.","surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/morpho_chains.json). Roots are Morpho's own registry (morpho-org/sdks, morpho-ts addresses.ts and chain.ts). ⚠ The core is NOT 0xBBBB…FFCb here — that address is Ethereum and Base only; on Tempo it is 0x10EE9AAC980A180dd4DcFc96C746d60B0EA88f97. The RPC reports chain id 4217, the core answers owner() and feeRecipient(), and isIrmEnabled(adaptiveCurveIrm) is true. 1 bitcoin-symbol market(s) carry $1,000 or more of debt, each confirmed with idToMarketParams(id); candidates come from Morpho's API, so a market it does not list is not found. ⚠ SETTING chain_id HAS A CONSEQUENCE: ingestors/morpho-market-rates.js maps Morpho's API markets to a venue by chain_id, so from the next run this venue receives gate-checked venue-API rows (rates, collateral, LLTV) it did not receive while the id was NULL. markets is left EMPTY on purpose: this deployment's events are not ingested.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC-collateral markets with $1,000 or more of debt (1): cbBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":2739918.8666666667,"book_as_of":"2026-10-13","peak_book_usd_90d":10137250.866666667,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["PATHUSD"],"debt_usd":172448,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"morpho_blue_unichain","display_name":"Morpho Blue (Unichain)","operator":"Morpho Labs","venue_type":"onchain_isolated","chain_id":130,"family_id":"morpho_blue","deployment":"Unichain","agent_access":{"state":"routes","routes":[{"url":"https://mcp.morpho.org/","auth":"none","kind":"first_party","operator":"Morpho","transport":"streamable-http","scope_note":"Prepares unsigned payloads only. The operator states: \"Nothing signs and nothing broadcasts.\"","chain_match":"registry id suffix matched the server's own supported-chain slug","last_checked":"2026-10-13","reachable_on":"2026-08-30","documentation":"https://docs.morpho.org/developers/agents/get-started/","tools_observed":{"read":10,"total":18,"submits":0,"prepares_transactions":8}}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/morpho_chains.json). Roots are Morpho's own registry (morpho-org/sdks, morpho-ts addresses.ts and chain.ts). ⚠ The core is NOT 0xBBBB…FFCb here — that address is Ethereum and Base only; on Unichain it is 0x8f5ae9CddB9f68de460C77730b018Ae7E04a140A. The RPC reports chain id 130, the core answers owner() and feeRecipient(), and isIrmEnabled(adaptiveCurveIrm) is true. 1 bitcoin-symbol market(s) carry $1,000 or more of debt, each confirmed with idToMarketParams(id); candidates come from Morpho's API, so a market it does not list is not found. markets is left EMPTY on purpose: this deployment's events are not ingested.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC-collateral markets with $1,000 or more of debt (1): WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":668589.505960541,"book_as_of":"2026-10-13","peak_book_usd_90d":669059.1672426221,"peak_on":"2026-10-12","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["USDC"],"debt_usd":25599,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"crvusd_ethereum","display_name":"crvUSD (Ethereum)","operator":null,"venue_type":"onchain_cdp","chain_id":1,"family_id":"crvusd","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"administered_price_feedback","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/curve.json). The controller factory lists 9 markets, each minting crvUSD against one collateral held in its own AMM; four take a bitcoin representation (WBTC, tBTC, cbBTC, LBTC). Liquidation is soft (the AMM converts collateral band by band) and the rate is set by a monetary policy contract from crvUSD's peg, not by utilisation. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"soft"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"administered_price_feedback"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC markets (3): WBTC, tBTC, cbBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":74153935.23095378,"book_as_of":"2026-10-13","peak_book_usd_90d":75399466.7,"peak_on":"2026-10-03","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["CRVUSD"],"debt_usd":34011150,"debt_native":null,"rows":4,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"felix_cdp_hyperliquid_l1","display_name":"Felix CDP (Hyperliquid L1)","operator":null,"venue_type":"onchain_cdp","chain_id":999,"family_id":"felix_cdp","deployment":"Hyperliquid L1","agent_access":{"state":"not_surveyed"},"rate_mechanism":"borrower_set","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/felix.json), root published in both github.com/felixprotocol/felix-contracts addresses/999.json and usefelix.gitbook.io/docs. chain_id SET null -> 999: the RPC reports 999. A Liquity v2 fork minting feUSD in four branches (WHYPE, feUBTC, kHYPE, wstHYPE; about 9.7m feUSD, 0.47m of it against bitcoin). The bitcoin collateral is feUBTC, a wrapper holding UBTC one for one. Unlike Liquity v2 every core contract is an upgradeable proxy under an AdminController. RECLASSIFIED 2026-09-30 by operator decision: rate_mechanism algorithmic_utilisation -> borrower_set, a value added to the vocabulary for this design — each borrower names the rate on their own trove. The venue moves from the algorithmic class to the minted class. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced. Operator left NULL rather than guessed.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"borrower_set"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC branches (1): feUBTC (a wrapper of UBTC)"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":9785462.483985914,"book_as_of":"2026-10-13","peak_book_usd_90d":10310447.866666667,"peak_on":"2026-09-22","days_seen":22},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["FEUSD"],"debt_usd":450859,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"frankencoin_ethereum","display_name":"Frankencoin (Ethereum)","operator":null,"venue_type":"onchain_cdp","chain_id":1,"family_id":"frankencoin","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"administered","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 (registry/resolution/2026-09/frankencoin.json), roots from docs.frankencoin.com and github.com/Frankencoin-ZCHF/FrankenCoin exports/address.config.ts. 240 positions ever opened, 68 with debt, all on the V2 hub: 32.0m ZCHF, 13.2m of it against cbBTC and WBTC in 25 positions. The debt is in Swiss francs. Each position is its own contract with a liquidation price its owner states; no price feed enters, and a challenge auction decides liquidation. Positions have a fixed expiry and pay interest up front. RECLASSIFIED 2026-09-30 by operator decision: venue_type onchain_isolated -> onchain_cdp and rate_mechanism algorithmic_utilisation -> administered. The proposer had derived both from the pool feed; the chain shows ZCHF minted against collateral at a governance lead rate plus a fixed premium, with no lender and no utilisation. The venue moves from the algorithmic class to the minted class. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced. Operator left NULL rather than guessed.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"none"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"administered"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC positions (25): cbBTC, WBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":23658513.90256285,"book_as_of":"2026-10-13","peak_book_usd_90d":38344702.66666667,"peak_on":"2026-09-29","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"chf","assets":["ZCHF"],"debt_usd":15873430,"debt_native":13163835.229080327,"rows":2,"as_of":"2026-10-13","observer":"contract_state"}]}},{"venue_id":"kava_mint_kava","display_name":"Kava Mint (Kava)","operator":null,"venue_type":"onchain_cdp","chain_id":2222,"family_id":"kava_mint","deployment":"Kava","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $4M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed. venue_type CORRECTED 2026-09-22 onchain_pooled -> onchain_cdp: every market in the pool feed carries a MINTED loan asset (borrowed_asset = USDX), so `symbol` is the collateral, not a reserve. Typed pooled, the curve read the collateral as the loan and filed this debt as bitcoin-denominated borrowing (empty-venue probe, 2026-09-22). rate_mechanism left as registered: the class is a separate, sourced decision.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-10-07","peak_book_usd_90d":0,"peak_on":"2026-10-07","days_seen":17},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"liquity_forks_ethereum","display_name":"Threshold USD (Ethereum)","operator":"various","venue_type":"onchain_cdp","chain_id":1,"family_id":"liquity_forks","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"administered","source_type":"contract_read","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the venue's own contracts (scripts/direct-reads.mjs). The contract reads are daily, at a recorded block. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the venue's own contracts (scripts/direct-reads.mjs): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Each row names its observer. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not observed: composition is loan-level, and neither the aggregator nor a daily contract read of pool or vault totals gives it. As of 2026-10-01.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"DIRECT READ 2026-09-22 (view calls, Ethereum): Threshold USD, tBTC deployment — addresses from github.com/Threshold-USD/dev packages/lib-ethers/deployments/default/tbtc/v1/mainnet.json (troveManager 0xfC7d41A684b7dB7c817A9dDd028f9A31c2F6f893, collateral 0x18084fbA666a33d37592fA2633fD49a74DD93a88 = tBTC, thusdToken 0xCFC5bD99915aAa815401C5a41A927aB7a38d29cf). getEntireSystemDebt 0.538m thUSD, getEntireSystemColl 26.7641 tBTC, 5 troves; getBorrowingRate 0.868% — a one-off fee, no annual rate. Not ingested: thUSD has 4 days of price history on coins.llama.fi, short of asset_peg rule 090 (>= 30 days), so its currency cannot be established and the curve would fail it closed; and docs.threshold.network no longer documents thUSD. Revisit if either changes. INGESTED FROM 2026-09-22 by operator decision (\"let's go ahead with the moonwell and threshold ingestion\"), superseding the two reasons above: scripts/direct-reads.mjs reads the TroveManager daily (registry/direct_pools.json), and thUSD is a dollar by DECLARED peg on its redemption floor until 30 days of prices allow a measurement. Debt only: the fee is one-off, so no annual rate is written.","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"administered"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC (1): tBTC"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":537702.4956891361,"book_as_of":"2026-10-13","peak_book_usd_90d":537702.4956891361,"peak_on":"2026-10-13","days_seen":22},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["THUSD"],"debt_usd":537702,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"lista_cdp_bsc","display_name":"Lista CDP (BSC)","operator":null,"venue_type":"onchain_cdp","chain_id":56,"family_id":"lista_cdp","deployment":"BSC","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): bitcoin collateral is the supplied amount of each pegged-bitcoin reserve, converted at the day's bitcoin reference, and debt is the borrowed amount per pool or vault. Neither is a read of the venue's own contracts. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 1 bitcoin-collateral market(s), $2M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed. venue_type CORRECTED 2026-09-22 onchain_pooled -> onchain_cdp: every market in the pool feed carries a MINTED loan asset (borrowed_asset = LISUSD), so `symbol` is the collateral, not a reserve. Typed pooled, the curve read the collateral as the loan and filed this debt as bitcoin-denominated borrowing (empty-venue probe, 2026-09-22). rate_mechanism left as registered: the class is a separate, sourced decision.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":2241303.016284427,"book_as_of":"2026-10-13","peak_book_usd_90d":2251371.1,"peak_on":"2026-09-22","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["LISUSD"],"debt_usd":795183,"debt_native":null,"rows":1,"as_of":"2026-10-13","observer":"contract_read"}]}},{"venue_id":"sky_ethereum","display_name":"Sky (Ethereum)","operator":"Sky Ecosystem","venue_type":"onchain_cdp","chain_id":1,"family_id":"sky","deployment":"Ethereum","agent_access":{"state":"none_found","reason":"Probed for a first-party MCP endpoint; none answered.","surveyed_on":"2026-08-30"},"rate_mechanism":"administered","source_type":"direct_events","status":"ingesting","first_block":9975673,"first_date":"2020-04-30","backfill_horizon":"full","coverage":{"price":{"level":"full","reason":null,"validated":true},"quantity":{"level":"full","reason":null,"validated":false},"composition":{"level":"full","reason":null,"validated":false}},"validation_note":"Stability-fee history replayed from 736 MCD_JUG governance events and gated by exact integer equality against the live read on all three ilks and the global base — 2,283 days on WBTC-A from 2020-04-30. Quantity is 7 days of ungated venue-level snapshot and composition needs loan-level ingestion that has not started; both stay collecting.","terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"The deepest backfill available anywhere in the set — WBTC-A dates to 2020-04-30. Enumerating the IlkRegistry returned exactly WBTC-A/B/C, confirming the documented set rather than contradicting it, which is why the ilk list can now be trusted without re-derivation. Trap: IlkRegistry.info() returns an empty join adapter for all three; the join addresses above come from the direct join(bytes32) accessor. R6 decodes vault events through those adapters, so it must use the individual accessors, not the composite struct.","market_count":3,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"administered"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"WBTC (direct_wrapped) via ilks WBTC-A, WBTC-B, WBTC-C"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":548273611.0247033,"book_as_of":"2026-10-13","peak_book_usd_90d":550106733.3333334,"peak_on":"2026-09-21","days_seen":23},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["DAI"],"debt_usd":2199360,"debt_native":2199360.002192542,"rows":3,"as_of":"2026-10-13","observer":"contract_state"}]}},{"venue_id":"gavel_arbitrum","display_name":"The Gavel Protocol (Arbitrum)","operator":null,"venue_type":"auction","chain_id":42161,"family_id":"gavel","deployment":"Arbitrum","agent_access":{"state":"routes","routes":[{"url":"https://mcp.thegavel.io/mcp","auth":"none","kind":"first_party","operator":"Aletheia Analytics SASU","transport":"streamable-http","scope_note":"Prepares unsigned calldata only. Nothing signs, submits or broadcasts; no tool takes custody of funds or receives a mandate.","last_checked":"2026-10-13","reachable_on":"2026-08-30","documentation":"https://www.thegavel.io/llms.txt","operator_note":"This venue's interface is operated by the same entity that publishes this dataset. That is disclosed on this row's `disclosure` field and is not a property of the route.","tools_observed":{"total":19,"submits":0,"moved_shims":2,"prepares_transactions":5}}],"surveyed_on":"2026-08-30"},"rate_mechanism":"auction_discovered","source_type":"direct_events","status":"live","first_block":459939763,"first_date":"2026-07-16","backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Mainnet auctions began on 2026-07-16, and the settled count is still below the bar a curve needs (30 settled auctions), so this row carries prints, not a term structure. The count observed now is stated with this venue's rate in the rate comparison (/v1/venues/compare). The gap closes with time, not with engineering.","validated":true},"quantity":{"level":"full","reason":null,"validated":true},"composition":{"level":"full","reason":null,"validated":true}},"validation_note":"First-party book held in the protocol indexer and complete from inception, so there is no sampling to validate. The binding limit is market depth, not observation depth — 12 loans — which is disclosed on the page and classified by yield_curve_canonical.status. External participation is zero on every LIVE_BAR metric and the own-account disclosure states it.","terminal_date":null,"terminal_event":null,"disclosure":"Aletheia Analytics SASU operates the website interface at thegavel.io, and runs automated agents for its own account on this venue; a material share of the prints on this row are its own. The Gavel Protocol itself is autonomous code that Aletheia does not operate.","notes":"One row among the rest, styled identically in the coverage matrix. Loan-level data is complete because the protocol is ours to index — which is exactly why the own-account disclosure has to be attached to it and not left to a footnote.","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"none"},"liquidation_mechanism":{"value":"none"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"auction_discovered"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"WBTC (direct_wrapped)"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["USDC"],"debt_usd":16950,"debt_native":16950.187962,"rows":20,"as_of":"2026-10-13","observer":"contract_state"}]}},{"venue_id":"cefi_arch","display_name":"Arch","operator":"Arch","venue_type":"cefi_desk","chain_id":null,"family_id":"arch","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-09-21","backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Rate card first read 2026-09-21 from the desk's own page (gavel-indexer credit-complex/cefi-rate-cards.js, logged there) — a single effective date, a snapshot, not a history. A posted card is an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. Until 2026-09-21 no card had been sourced.","validated":false},"quantity":{"level":"none","reason":"CeFi desks publish no loan book. Quantity is unobtainable at this venue, not merely unbuilt — declared rather than left blank.","validated":false},"composition":{"level":"none","reason":"CeFi desks publish no loan-level data. Unobtainable, not unbuilt.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"undisclosed"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"BTC (desk-held, representation not disclosed)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd"],"basis":"published","source":"Assets: USD (fiat); USDC. \"Access USD or USDC funding quickly with collateral held in a qualified custodian\" — https://archlending.com, read 2026-10-05"},"observed":null}},{"venue_id":"cefi_blockfi","display_name":"BlockFi","operator":"BlockFi Inc.","venue_type":"cefi_desk","chain_id":null,"family_id":"blockfi","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"archived_card","status":"defunct","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Posted rates recoverable from Internet Archive snapshots as archived_card; BlockFi additionally published periodic reports from mid-2022. NOT YET INGESTED.","validated":false},"quantity":{"level":"partial","reason":"Voluntary periodic reports and the bankruptcy docket, as dated snapshots. NOT YET INGESTED.","validated":false},"composition":{"level":"none","reason":"Loan-level composition unobtainable for a wound-up custodial desk.","validated":false}},"validation_note":null,"terminal_date":"2022-11-28","terminal_event":"Chapter 11 voluntary petition. Official Form 201, \"Voluntary Petition for Non-Individuals Filing for Bankruptcy\", filed in the United States Bankruptcy Court for the District of New Jersey, Chapter 11; the court's ECF header on the first page reads verbatim \"Case 22-19361  Doc 1  Filed 11/28/22  Entered 11/28/22 10:15:28  Desc Main Document\" and the form's item 1 \"Debtor's name\" reads \"BlockFi Inc.\" Case No. 22-19361. Retrieved 2026-09-01 from the RECAP mirror of the PACER docket, storage.courtlistener.com/recap/gov.uscourts.njb.1094078/gov.uscourts.njb.1094078.1.0.pdf. (Kroll, the claims agent, returns HTTP 403 to a datacentre IP — re-verified 2026-09-01.)","disclosure":null,"notes":null,"market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"custodial_with_reuse"},"collateral_asset":{"value":"BTC (desk-held; the desk could rehypothecate, sell or lend it)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"unknown"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":8,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd"],"basis":"filing","source":"Assets: USD (fiat). \"could borrow money in U.S. dollars against the amount of crypto assets deposited in BIAs\"; \"lending U.S. dollars to retail investors\" — SEC Order In re BlockFi Lending LLC, Rel. 33-11029, https://www.sec.gov/files/litigation/admin/2022/33-11029.pdf, read 2026-10-05"},"observed":null}},{"venue_id":"cefi_cantor","display_name":"Cantor Fitzgerald","operator":"Cantor Fitzgerald","venue_type":"cefi_desk","chain_id":null,"family_id":"cantor","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-07-21","backfill_horizon":"2026-07-21","coverage":{"price":{"level":"partial","reason":"Rate card held for a single effective date (2026-07-21) in cefi_credit_rates — a snapshot, not a history. A posted card is also an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. The declared backfill_horizon is that one date.","validated":false},"quantity":{"level":"none","reason":"CeFi desks publish no loan book. Quantity is unobtainable at this venue, not merely unbuilt — declared rather than left blank.","validated":false},"composition":{"level":"none","reason":"CeFi desks publish no loan-level data. Unobtainable, not unbuilt.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"undisclosed"},"term_certainty":{"value":"undisclosed"},"rate_certainty":{"value":"undisclosed"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"BTC (desk-held, representation not disclosed)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":null,"basis":"undisclosed","source":"No primary statement found — cantor.com returns 403 (WebFetch and curl); no Cantor press release located; read 2026-10-05"},"observed":null}},{"venue_id":"cefi_celsius","display_name":"Celsius Network","operator":"Celsius Network LLC","venue_type":"cefi_desk","chain_id":null,"family_id":"celsius","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"archived_card","status":"defunct","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Posted rates recoverable from Internet Archive snapshots as source_type archived_card; each snapshot dated and citable, irregular cadence a registered property rather than a defect. NOT YET INGESTED.","validated":false},"quantity":{"level":"partial","reason":"A one-time forensic snapshot is obtainable from the bankruptcy docket and the examiner report rather than a series. Book, LTVs and collateral treatment as at the petition date, never a running total. NOT YET INGESTED.","validated":false},"composition":{"level":"none","reason":"Loan-level composition is unobtainable for a wound-up custodial desk. What the examiner report does establish is the CUSTODY and REHYPOTHECATION treatment, which is the composition fact the 2022 failures turned on, and which the backing chain exists to carry.","validated":false}},"validation_note":null,"terminal_date":"2022-07-13","terminal_event":"Chapter 11 voluntary petition. Claims agent (Stretto), verbatim: \"On July 13, 2022, Celsius Network LLC and certain of its affiliates (collectively, the Celsius Debtors) filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.\" Jointly administered under Case No. 22-10964 (Bankr. S.D.N.Y., Hon. Martin Glenn). Retrieved 2026-08-07 from cases.stretto.com/celsius.","disclosure":null,"notes":null,"market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"callable"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"custodial_with_reuse"},"collateral_asset":{"value":"BTC (title passed to the desk)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"unknown"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":8,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd","other"],"basis":"filing","source":"Assets: fiat currency (unnamed); stablecoins (unnamed; 'pegged to fiat currency, including the U.S. dollar'). \"Celsius also made loans of fiat currency and 'stablecoins'--cryptocurrency pegged to fiat currency, including the U.S. dollar--to third-party retail borrowers in the event such borrowers posted collateral in the form of cryptocurrency\" — Bankr. S.D.N.Y. opinion, https://www.nysb.uscourts.gov/sites/default/files/opinions/324763_32_opinion.pdf, read 2026-10-05"},"observed":null}},{"venue_id":"cefi_coinbase_morpho","display_name":"Coinbase (Morpho-backed)","operator":"Coinbase (Morpho-backed)","venue_type":"cefi_desk","chain_id":null,"family_id":"coinbase_morpho","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-07-21","backfill_horizon":"2026-07-21","coverage":{"price":{"level":"partial","reason":"Rate card held for a single effective date (2026-07-21) in cefi_credit_rates — a snapshot, not a history. A posted card is also an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. The declared backfill_horizon is that one date.","validated":false},"quantity":{"level":"none","reason":"CeFi desks publish no loan book. Quantity is unobtainable at this venue, not merely unbuilt — declared rather than left blank.","validated":false},"composition":{"level":"none","reason":"CeFi desks publish no loan-level data. Unobtainable, not unbuilt.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Coinbase's retail BTC-backed loans are originated into Morpho Blue markets on Base, so this desk's loan book is already inside morpho_blue_base. Counting this row's quantity alongside Morpho's would double-count the same loans — structurally the same error as aEthWBTC, one layer up. It is registered as a price row only, and quantity must stay none for that reason and not merely because CeFi desks are opaque.","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC (desk-held, representation not disclosed)"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd"],"basis":"published","source":"Assets: USDC (on Base via Morpho). \"With a crypto-backed loan, you can borrow USDC using your crypto on Coinbase as collateral. Borrowing is enabled by the Morpho onchain lending protocol on Base.\" — https://www.coinbase.com/borrow (via curl; WebFetch 403), read 2026-10-05"},"observed":null}},{"venue_id":"cefi_cred","display_name":"Cred","operator":"Cred Inc.","venue_type":"cefi_desk","chain_id":null,"family_id":"cred","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"archived_card","status":"defunct","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Posted rates recoverable from Internet Archive snapshots as archived_card. NOT YET INGESTED. ⚠ Cred failed in 2020, BEFORE the 2022 cohort, so it is the earliest venue on this surface and its rates predate every other series held.","validated":false},"quantity":{"level":"partial","reason":"Bankruptcy docket only, as a one-time snapshot. NOT YET INGESTED.","validated":false},"composition":{"level":"none","reason":"Loan-level composition unobtainable for a wound-up desk.","validated":false}},"validation_note":null,"terminal_date":"2020-11-07","terminal_event":"Chapter 11 voluntary petition. Claims agent (Stretto), verbatim: \"On November 7, 2020 (the Petition Date), Cred Inc. and four affiliated debtors (together, the Debtors) filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code.\" Jointly administered under case no. 20-12836. Retrieved 2026-08-07 from cases.stretto.com/cred.","disclosure":null,"notes":null,"market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"custodial_with_reuse"},"collateral_asset":{"value":"BTC (desk-held; the desk lent it on)"},"recourse":{"value":"recourse"},"track_record":{"value":"unknown"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":8,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd"],"basis":"filing","source":"Assets: USD (fiat). \"Cred launched the CredBorrow program in December 2018 as a mechanism to offer customers loans in U.S. dollars (USD) using a customer's cryptocurrency as collateral for the loan.\" — Examiner Report (R. Stark), Bankr. D. Del. 20-12836 Doc 605, https://cases.stretto.com/public/x117/10695/PLEADINGS/1069504102180000000042.pdf, read 2026-10-05"},"observed":null}},{"venue_id":"cefi_figure","display_name":"Figure","operator":"Figure","venue_type":"cefi_desk","chain_id":null,"family_id":"figure","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-09-21","backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Rate card first read 2026-09-21 from the desk's own page (gavel-indexer credit-complex/cefi-rate-cards.js, logged there) — a single effective date, a snapshot, not a history. A posted card is an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. Until 2026-09-21 no card had been sourced.","validated":false},"quantity":{"level":"partial","reason":"Statutory filings — SEC-reporting post-IPO, quarterly. Staleness declared at the source's native quarterly cadence. Not yet resolved: the row records that the disclosure class exists, which is what coverage describes, while status continues to carry whether anything is held.","validated":false},"composition":{"level":"partial","reason":"Aggregate statistics only. Loan-level composition is unobtainable everywhere in this class and remains declared so.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"BTC (desk-held, representation not disclosed)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd"],"basis":"published","source":"Assets: USD cash/fiat (Figure account). \"Figure’s crypto-backed loan allows you to put up crypto as collateral to access cash\"; \"any excess collateral and/or fiat will...\" — https://www.figure.com/crypto-backed-loan/ (FAQ JSON-LD, via curl), read 2026-10-05"},"observed":null}},{"venue_id":"cefi_galaxy","display_name":"Galaxy Digital","operator":"Galaxy Digital Inc.","venue_type":"cefi_desk","chain_id":null,"family_id":"galaxy","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"bilateral_unpublished","source_type":"filings","status":"registered","first_block":null,"first_date":"2026-09-16","backfill_horizon":"none","coverage":{"price":{"level":"none","reason":"No posted card this estate can read. Galaxy's institutional lending is negotiated per counterparty, which is `bilateral_unpublished` in the same sense as Maple — a rate exists per loan and none of them is quotable to a named borrower. A retail BTC-collateralised credit line was announced 2026-08-25 and is not yet read here.","validated":false},"quantity":{"level":"partial","reason":"A PUBLIC FILER, which is why this venue is registered at all: Galaxy reports its lending book in SEC filings (loans receivable, with collateral payable in digital assets), quarterly and audited — the only desk on this surface whose book carries an auditor's assurance rather than a reporter's disclaimer. Over $1.1bn of loans at the end of Q2 2026 per its filings. NOT YET INGESTED: the figure must be read from the filing itself to cefi_book_observations, with the accession number on the row, exactly as the corporate instruments are read. Registered now so the absence is a named gap rather than a venue nobody listed.","validated":false},"composition":{"level":"none","reason":"The filings report a lending book, not a collateral composition: which collateral secures which loan is not disclosed, and the digital assets payable line mixes collateral types. Nothing here supports a bitcoin share.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Registered 2026-09-16 on the operator's decision, when the question \"can any custodial desk's book size be known\" was asked and the answer turned out to be yes for two of them: Ledn publishes monthly (reported, not attested) and Galaxy files quarterly (audited). The other seven desks publish nothing.","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"undisclosed"},"term_certainty":{"value":"undisclosed"},"rate_certainty":{"value":"undisclosed"},"rate_mechanism":{"value":"bilateral_unpublished"},"custody_model":{"value":"undisclosed"},"collateral_asset":{"value":"Digital assets including BTC (share not disclosed)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["other"],"basis":"filing","source":"Assets: fiat (currency not named; 'fiat-denominated loans'). \"In the general course of business, the Company offers fiat-denominated loans to counterparties against digital assets or other collateral.\" — Galaxy Digital Inc. 10-Q Q2 2026, Note 11 Loans Receivable, https://www.sec.gov/Archives/edgar/data/1859392/000185939226000091/glxy-20260630.htm, read 2026-10-05"},"observed":null}},{"venue_id":"cefi_genesis","display_name":"Genesis Global Capital","operator":"Genesis Global Holdco, LLC","venue_type":"cefi_desk","chain_id":null,"family_id":"genesis","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"administered","source_type":"filings","status":"defunct","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"⚠ NOT a posted card — Genesis lent bilaterally to institutions and never published a retail rate card, so rate_mechanism is administered and there is nothing for archived_card to recover. What exists is the voluntary quarterly reports (2018–2022), which carry aggregate originations and book figures rather than a quoted rate. NOT YET INGESTED.","validated":false},"quantity":{"level":"partial","reason":"Voluntary quarterly reports 2018–2022 — the deepest series of the era.2 — plus the bankruptcy docket as a terminal snapshot. NOT YET INGESTED.","validated":false},"composition":{"level":"none","reason":"Loan-level composition unobtainable for a wound-up institutional desk.","validated":false}},"validation_note":null,"terminal_date":"2023-01-19","terminal_event":"Chapter 11 voluntary petitions. Memorandum of Decision of the United States Bankruptcy Court for the Southern District of New York, marked FOR PUBLICATION, in re GENESIS GLOBAL HOLDCO, LLC, et al., Case No. 23-10063 (SHL) (Jointly Administered), stating verbatim: \"The Debtors filed these Chapter 11 cases on January 19, 2023, seeking to restructure their balance sheets and evaluate options to preserve the value of the business.\" ECF header reads \"23-10063-shl  Doc 581  Filed 08/04/23\". Retrieved 2026-09-01 from govinfo.gov (U.S. Government Publishing Office), USCOURTS-nysb-1_23-bk-10063-0.","disclosure":null,"notes":null,"market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"callable"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"administered"},"custody_model":{"value":"custodial_with_reuse"},"collateral_asset":{"value":"BTC and other digital assets (desk-held; the desk reused it)"},"recourse":{"value":"recourse"},"track_record":{"value":"unknown"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":8,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["btc","other"],"basis":"filing","source":"Assets: BTC; fiat currency (unnamed); other cryptocurrency (unnamed). \"Genesis Capital lent cryptocurrency and fiat currency to institutions and high-net-worth clients.\"; \"an openterm loan of approximately 18,697 bitcoin ... Rather than repaying this loan in bitcoin--the denomination of the loan\" — NYAG amended complaint, https://ag.ny.gov/sites/default/files/2024-02/genesis-amended-complaint.pdf, read 2026-10-05 WARNING: the BTC here is bitcoin the desk LENT; the filing does not say those loans were secured by bitcoin, so it is not evidence of bitcoin-against-bitcoin credit."},"observed":null}},{"venue_id":"cefi_hodlnaut","display_name":"Hodlnaut","operator":"Hodlnaut Pte. Ltd.","venue_type":"cefi_desk","chain_id":null,"family_id":"hodlnaut","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"archived_card","status":"defunct","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Posted rates recoverable from Internet Archive snapshots as archived_card. NOT YET INGESTED.","validated":false},"quantity":{"level":"partial","reason":"Singapore insolvency record only — the office-holder's circulars to creditors, as dated snapshots rather than a series. Absent from US federal dockets entirely. NOT YET INGESTED.","validated":false},"composition":{"level":"none","reason":"Loan-level composition unobtainable for a wound-up custodial desk.","validated":false}},"validation_note":null,"terminal_date":"2022-08-29","terminal_event":"Interim judicial management, Singapore. EY Singapore, in its capacity as court-appointed office-holder, states verbatim: \"The Company entered into Interim Judicial Management on 29 August 2022. Ms. Ee Meng Yen Angela and Mr. Aaron Loh Cheng Lee were appointed as the Interim Judicial Managers (\"IJMs\")\". The related judgment is Re Hodlnaut Pte Ltd [2022] SGHC 209 (General Division of the High Court of the Republic of Singapore). ⚠ The company was later WOUND UP: per the same office-holder, \"on 10 November 2023, the IJM Order and the IJMs of the Company were discharged by the High Court of Singapore, and Ms. Ee Meng Yen Angela and Mr. Aaron Loh Cheng Lee were appointed as the joint and several liquidators (\"Liquidators\")\", the winding-up being granted in Loh Cheng Lee Aaron v Hodlnaut Pte Ltd [2023] SGHC 323. terminal_date is the 2022 commencement, not the 2023 wind-up, per the cohort convention. Retrieved 2026-09-01 from ey.com/en_sg/hodlnaut-pte-ltd and elitigation.sg.","disclosure":null,"notes":null,"market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":"not_applicable"},"liquidation_mechanism":{"value":"not_applicable"},"term_certainty":{"value":"not_applicable"},"rate_certainty":{"value":"not_applicable"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"not_applicable"},"collateral_asset":{"value":"not_applicable"},"recourse":{"value":"not_applicable"},"track_record":{"value":"unknown"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":8,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":null,"basis":"undisclosed","source":"\"Institutional Loan Features Minimum loan amount: USD 50,000 Flexible loan to value ratio from 25% to 70%\" — https://www.hodlnaut.com/hnap0001, read 2026-10-05"},"observed":null}},{"venue_id":"cefi_ledn","display_name":"Ledn","operator":"Ledn","venue_type":"cefi_desk","chain_id":null,"family_id":"ledn","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-07-21","backfill_horizon":"2026-07-21","coverage":{"price":{"level":"partial","reason":"Rate card held for a single effective date (2026-07-21) in cefi_credit_rates — a snapshot, not a history. A posted card is also an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. The declared backfill_horizon is that one date.","validated":false},"quantity":{"level":"partial","reason":"Independently REPORTED, not attested — the Ledn Open Book Report, monthly since 2025-12, with The Network Firm obtaining the balances from the desk's own systems and addresses: loans outstanding, BTC collateral, average LTV and custody status, backfillable to launch. ⚠ The word \"attested\" stood here until 2026-09-16 and the reporter's own disclaimer refuses it: \"This information is not an audit, review, or attestation engagement, nor does it express any form of assurance, opinion, or conclusion\". What IS attested is a separate Proof of Reserves under AICPA standards (assets at least client liabilities), as of 2026-03-31, two quarters behind the book figures. Ingested to cefi_book_observations since 2026-09-16; read 2026-09-16 at $757M outstanding, 20,769 BTC posted, 46% average LTV. Aggregate-only is the accepted grade, not a deficiency. Manual-verified versioned config, dated, per-row source citation, no scraper. Staleness is declared at the source's native monthly cadence plus grace, not the 45-day card rule. Ledn being the only desk on this surface with an independently observed book is itself a composition finding.","validated":false},"composition":{"level":"partial","reason":"Aggregate statistics only — an average LTV is a point statistic, not a distribution, and this cell says which it is. Loan-level composition is unobtainable everywhere in this class and remains declared so.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"BTC (desk-held, representation not disclosed)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd","other"],"basis":"published","source":"Assets: USD (fiat); USDC; USDT (Private Wealth); USAT (Private Wealth); local fiat currency (unnamed, jurisdiction-dependent). \"Receive USD, USDC or your local currency\" — https://www.ledn.io/borrowing, read 2026-10-05; \"Your loan is always denominated in U.S. dollars, regardless of the disbursement method you choose.\" — https://help.ledn.io/hc/en-us/articles/28283204866583-How-Do-I-Open-a-Dollar-Loan (Zendesk API), read 2026-10-05; \"Loans can be funded in USD, USDC, USD₮, USA₮ or your local currency.\" — https://www.ledn.io/private-wealth, read 2026-10-05"},"observed":null}},{"venue_id":"cefi_milo","display_name":"Milo","operator":"Milo","venue_type":"cefi_desk","chain_id":null,"family_id":"milo","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-09-21","backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Rate card first read 2026-09-21 from the desk's own page (gavel-indexer credit-complex/cefi-rate-cards.js, logged there) — a single effective date, a snapshot, not a history. A posted card is an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. Until 2026-09-21 no card had been sourced.","validated":false},"quantity":{"level":"none","reason":"CeFi desks publish no loan book. Quantity is unobtainable at this venue, not merely unbuilt — declared rather than left blank.","validated":false},"composition":{"level":"none","reason":"CeFi desks publish no loan-level data. Unobtainable, not unbuilt.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"undisclosed"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"BTC (desk-held, representation not disclosed)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd"],"basis":"published","source":"Assets: USD (fiat, U.S. bank account). \"loan proceeds can only be deposited into a U.S. bank account\"; \"All crypto loan payments must be made in USD via ACH transfer\" — https://www.milo.io/faq/, read 2026-10-05"},"observed":null}},{"venue_id":"cefi_nexo","display_name":"Nexo","operator":"Nexo","venue_type":"cefi_desk","chain_id":null,"family_id":"nexo","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-07-21","backfill_horizon":"2026-07-21","coverage":{"price":{"level":"partial","reason":"Rate card held for a single effective date (2026-07-21) in cefi_credit_rates — a snapshot, not a history. A posted card is also an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. The declared backfill_horizon is that one date.","validated":false},"quantity":{"level":"none","reason":"CeFi desks publish no loan book. Quantity is unobtainable at this venue, not merely unbuilt — declared rather than left blank.","validated":false},"composition":{"level":"none","reason":"CeFi desks publish no loan-level data. Unobtainable, not unbuilt.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"BTC (desk-held, representation not disclosed)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd","other"],"basis":"published","source":"Assets: USDT; USDC; fiat to bank account - 'multiple currencies' (not enumerated). \"Choose from multiple currencies and receive the funds straight to your bank account.\" / \"Receive USDT or USDC to your Nexo account.\" — https://nexo.com/en-us/borrow, read 2026-10-05"},"observed":null}},{"venue_id":"cefi_salt","display_name":"SALT","operator":"SALT","venue_type":"cefi_desk","chain_id":null,"family_id":"salt","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-07-21","backfill_horizon":"2026-07-21","coverage":{"price":{"level":"partial","reason":"Rate card held for a single effective date (2026-07-21) in cefi_credit_rates — a snapshot, not a history. A posted card is also an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. The declared backfill_horizon is that one date.","validated":false},"quantity":{"level":"none","reason":"CeFi desks publish no loan book. Quantity is unobtainable at this venue, not merely unbuilt — declared rather than left blank.","validated":false},"composition":{"level":"none","reason":"CeFi desks publish no loan-level data. Unobtainable, not unbuilt.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"BTC (desk-held, representation not disclosed)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc","eth"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd"],"basis":"published","source":"Assets: USD (fiat); USDC; USDT. \"Payout Options US dollars or stablecoin (USDC / USDT)\" — https://saltlending.com/personal/, read 2026-10-05; \"borrow funds in USD or Stablecoin\" — https://saltlending.com, read 2026-10-05"},"observed":null}},{"venue_id":"cefi_strike","display_name":"Strike","operator":"Strike","venue_type":"cefi_desk","chain_id":null,"family_id":"strike","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-07-21","backfill_horizon":"2026-07-21","coverage":{"price":{"level":"partial","reason":"Rate card held for a single effective date (2026-07-21) in cefi_credit_rates — a snapshot, not a history. A posted card is also an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. The declared backfill_horizon is that one date.","validated":false},"quantity":{"level":"none","reason":"CeFi desks publish no loan book. Quantity is unobtainable at this venue, not merely unbuilt — declared rather than left blank.","validated":false},"composition":{"level":"none","reason":"CeFi desks publish no loan-level data. Unobtainable, not unbuilt.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"none"},"liquidation_mechanism":{"value":"none"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"custodial_with_reuse"},"collateral_asset":{"value":"BTC (desk-held, representation not disclosed)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd"],"basis":"published","source":"Assets: USD cash (credited to Strike account). \"Post your bitcoin as collateral, receive cash, repay with interest\"; \"Borrow between $75,000 and $2,000,000\" — https://strike.me/blog/announcing-bitcoin-backed-loans/, read 2026-10-05"},"observed":null}},{"venue_id":"cefi_tether","display_name":"Tether (secured loans)","operator":"Tether International, S.A. de C.V.","venue_type":"cefi_desk","chain_id":null,"family_id":"tether","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"bilateral_unpublished","source_type":"filings","status":"registered","first_block":null,"first_date":"2026-10-05","backfill_horizon":"2024-12-31","coverage":{"price":{"level":"none","reason":"No rate, term or counterparty is published for any of Tether's secured loans. The quarterly attestations carry an amount and nothing about its price.","validated":false},"quantity":{"level":"partial","reason":"The secured-loan line of Tether's quarterly Financial Figures and Reserves Report, under a BDO ISAE 3000 (Revised) reasonable-assurance attestation — an attestation, not a financial-statement audit. Seven quarter-ends held, 2024-12-31 to 2026-06-30 ($8.19bn rising to $17.04bn at 2025-12-31, $13.45bn at 2026-06-30). ⚠ NOT A BITCOIN BOOK: the reports say the loans are over-collateralised by \"assets\" (\"liquid assets\" until 2025) and never name bitcoin, so the figure is served with collateral_scope unstated and is not added to any bitcoin total.","validated":false},"composition":{"level":"none","reason":"Collateral is not broken down by asset. The only breakdown known is secondary and historical: The Block (2023-06-16), from New York Attorney General documents, reported 89% of $11.6bn lent June 2019 – May 2021 was against bitcoin. That is a claim about 2019–21, not about this book.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Registered 2026-10-05 on the operator's decision: possibly the largest bitcoin-adjacent lender, and a fact worth stating even though its bitcoin share cannot be. Treated as Galaxy is: registered, its book served and named, and kept out of every bitcoin total until a primary source states the collateral. The loans' currency (USD or USDT) is not stated either.","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"undisclosed"},"rate_certainty":{"value":"undisclosed"},"rate_mechanism":{"value":"bilateral_unpublished"},"custody_model":{"value":"undisclosed"},"collateral_asset":{"value":"Assets not broken down by type (bitcoin share undisclosed)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":null,"collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":null,"basis":"undisclosed","source":"Attestations carry secured loans in US$ ('Asset Category US$') but do not say what the loans are paid out in (USDT vs USD). WSJ 2023 (via The Block https://www.theblock.co/post/252273/tether-stablecoin-lending) called them stablecoin loans - secondary. No Tether primary statement found."},"observed":null}},{"venue_id":"cefi_two_prime","display_name":"Two Prime","operator":"Two Prime Lending Limited","venue_type":"cefi_desk","chain_id":null,"family_id":"two_prime","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"bilateral_unpublished","source_type":"filings","status":"registered","first_block":null,"first_date":"2026-10-05","backfill_horizon":"none","coverage":{"price":{"level":"partial","reason":"No rate card: Two Prime negotiates per facility and posts none, which is bilateral_unpublished as Maple and Galaxy are. Rates are known only where a borrower files them (MARA 7.65% fixed, Hut 8 7.99%, Fold 8.5%, CleanSpark SOFR + 3.55%); MARA's facility is already carried as corporate instrument mara_twoprime_2028. Those are single loans, not a price for the desk.","validated":false},"quantity":{"level":"none","reason":"Two Prime publishes what it ISSUED, not what is outstanding: \"$827 million in bitcoin-backed loans and credit facilities in Q3 2025\" (its own release, which calls it committed volume, so undrawn facilities are in it) and \"more than $2.55 billion\" since March 2024. No later quarter has been published. Single-borrower balances from borrowers' 10-Qs are held in cefi_book_observations as loans_outstanding_single_borrower and are never a book: MARA's $300m is already in the corporate layer, and adding it here would count it twice.","validated":false},"composition":{"level":"none","reason":"No loan-level data. Every borrower filing read names bitcoin as the collateral; the desk itself does not state that its whole book is bitcoin-collateralised.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Registered 2026-10-05 on the operator's decision. Institutional lender (miners, treasuries, funds) since March 2024 by its own account; lends in US dollars per the borrowers' filings. Its Axiom WBTC Yield Vault on Pareto (2026-09-17) lends BITCOIN to institutions against collateral it does not disclose: that is bitcoin lent, not credit secured by bitcoin, and the operator ruled it out of this stack (a separate market, like ether-backed lending).","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"bilateral_unpublished"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"BTC (custodied for the borrower; representation not disclosed)"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":null,"collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd"],"basis":"filing","source":"Fold 10-Q Q2 2026: 'permits the Company to request, and Two Prime to make available at its discretion, USD-denominated loans up to an aggregate commitment amount of $ 45.0 million' (https://www.sec.gov/Archives/edgar/data/1889123/000119312526344668/fld-20260630.htm). MARA 'fixed term loan of $300.0 million' (https://www.sec.gov/Archives/edgar/data/1507605/000150760526000022/mara-20260630.htm); Hut 8 'revolving credit facility of up to $200 million' (https://www.sec.gov/Archives/edgar/data/1964789/000110465925085775/tm2524762d1_8k.htm). Two Prime's guide speaks generically of 'a cash or stablecoin loan' (https://twoprime.com/bitcoin-backed-lending-guide). read 2026-10-05. No source says any Two Prime loan is disbursed in USDC."},"observed":null}},{"venue_id":"cefi_unchained","display_name":"Unchained","operator":"Unchained","venue_type":"cefi_desk","chain_id":null,"family_id":"unchained","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-09-13","backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Rate card first read 2026-09-21 from the desk's own page (gavel-indexer credit-complex/cefi-rate-cards.js, logged there) — a single effective date, a snapshot, not a history. A posted card is an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. Until 2026-09-21 no card had been sourced.","validated":false},"quantity":{"level":"none","reason":"CeFi desks publish no loan book. Quantity is unobtainable at this venue, not merely unbuilt — declared rather than left blank.","validated":false},"composition":{"level":"none","reason":"CeFi desks publish no loan-level data. Unobtainable, not unbuilt.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"shared_key"},"collateral_asset":{"value":"BTC (desk-held, representation not disclosed)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd"],"basis":"published","source":"Assets: USD (fiat). \"Unlock dollar liquidity without selling bitcoin\"; \"Loan principal USD\" — https://unchained.com/loans, read 2026-10-05"},"observed":null}},{"venue_id":"cefi_vauld","display_name":"Vauld","operator":"Defi Payments Pte. Ltd.","venue_type":"cefi_desk","chain_id":null,"family_id":"vauld","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"archived_card","status":"defunct","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Posted rates recoverable from Internet Archive snapshots as archived_card. NOT YET INGESTED.","validated":false},"quantity":{"level":"partial","reason":"Singapore restructuring record only, as dated snapshots. Absent from US federal dockets entirely. NOT YET INGESTED.","validated":false},"composition":{"level":"none","reason":"Loan-level composition unobtainable for a wound-up custodial desk.","validated":false}},"validation_note":null,"terminal_date":"2022-07-08","terminal_event":"Application for a moratorium under section 64 of the Insolvency, Restructuring and Dissolution Act, Singapore. The Singapore Courts (judiciary.gov.sg), in an information note published by the Judiciary itself, state verbatim: \"On 8 July 2022, Defi Payments Pte. Ltd. (\"Defi Payments\") filed an application under section 64\", and that \"it is part of a group of companies that form the Vauld group of companies (the \"Vauld Group\")\". The application was \"fixed for hearing at 4.00pm (8.00am GMT) on 1 August 2022 (Monday), before the Honourable Justice Aedit Abdullah\". Retrieved 2026-09-01 from judiciary.gov.sg/news-and-resources/news/news-details/information-note-on-defi-payments-hearing-on-1-august-2022.","disclosure":null,"notes":null,"market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"custodial_with_reuse"},"collateral_asset":{"value":"Borrower-chosen tokens including BTC (pooled at the desk)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"unknown"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":8,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["other"],"basis":"filing","source":"Assets: stablecoin (type not named). \"The Company also holds cryptocurrencies as collateral against loans to Vauld customers provided in stablecoin\" — Vauld restructuring FAQs (31 Jul 2022), https://support.vauld.com/en/articles/6382973-faqs-on-vauld-group-restructuring-as-of-31-july-22, read 2026-10-05"},"observed":null}},{"venue_id":"cefi_voyager","display_name":"Voyager Digital","operator":"Voyager Digital Holdings, Inc.","venue_type":"cefi_desk","chain_id":null,"family_id":"voyager","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"archived_card","status":"defunct","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Posted rates recoverable from Internet Archive snapshots as source_type archived_card; each snapshot dated and citable, irregular cadence a registered property. Voyager also published rates in TSX-listed filings across its life, the deepest of the era.2. NOT YET INGESTED.","validated":false},"quantity":{"level":"partial","reason":"Listed-company filings (TSX, quarterly) plus the bankruptcy docket, as dated snapshots rather than a running total. NOT YET INGESTED.","validated":false},"composition":{"level":"none","reason":"Loan-level composition unobtainable for a wound-up custodial desk.","validated":false}},"validation_note":null,"terminal_date":"2022-07-05","terminal_event":"Chapter 11 voluntary petition. Official Form 201, \"Voluntary Petition for Non-Individuals Filing for Bankruptcy\", filed in the United States Bankruptcy Court for the Southern District of New York, Chapter 11; the court's ECF header on the first page reads verbatim \"22-10943  Doc 1  Filed 07/05/22  Entered 07/05/22 23:29:36  Main Document\" and the form's item 1 \"Debtor's Name\" reads \"Voyager Digital Holdings, Inc.\" Case No. 22-10943 (MEW). Retrieved 2026-09-01 from the RECAP mirror of the PACER docket, storage.courtlistener.com/recap/gov.uscourts.nysb.312840/gov.uscourts.nysb.312840.1.0.pdf.","disclosure":null,"notes":null,"market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":"not_applicable"},"liquidation_mechanism":{"value":"not_applicable"},"term_certainty":{"value":"not_applicable"},"rate_certainty":{"value":"not_applicable"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"not_applicable"},"collateral_asset":{"value":"not_applicable"},"recourse":{"value":"not_applicable"},"track_record":{"value":"unknown"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":8,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd","btc"],"basis":"filing","source":"Assets: BTC; USDC. \"Pursuant to the 3AC Loan, the Company agreed to lend 15,250 Bitcoins and 350 million USDC to 3AC.\" — Ehrlich First Day Declaration, Bankr. S.D.N.Y. 22-10943 Doc 15, https://cases.stretto.com/public/x193/11753/PLEADINGS/1175307062280000000036.pdf, read 2026-10-05 WARNING: the BTC here is bitcoin the desk LENT; the filing does not say those loans were secured by bitcoin, so it is not evidence of bitcoin-against-bitcoin credit."},"observed":null}},{"venue_id":"cefi_xapo","display_name":"Xapo Bank","operator":"Xapo Bank","venue_type":"cefi_desk","chain_id":null,"family_id":"xapo","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-07-21","backfill_horizon":"2026-07-21","coverage":{"price":{"level":"partial","reason":"Rate card held for a single effective date (2026-07-21) in cefi_credit_rates — a snapshot, not a history. A posted card is also an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. The declared backfill_horizon is that one date.","validated":false},"quantity":{"level":"partial","reason":"Statutory filings — Gibraltar bank annual accounts, the book read as loans and advances to customers; the strongest provenance class available in this layer, an audited account of a regulated entity. Staleness declared at the source's native annual cadence, not the 45-day card rule. The 2025 Digital Wealth Report is an issuer report and carries term distribution and regional mix but no absolute book figure; it is not merged with the accounts.","validated":false},"composition":{"level":"partial","reason":"Aggregate statistics only. Loan-level composition is unobtainable everywhere in this class and remains declared so.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"BTC (desk-held, representation not disclosed)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd"],"basis":"published","source":"Assets: USD (fiat, Xapo Bank USD account). \"Borrow USD Without Selling Your Bitcoin\" / \"I have BTC I can borrow USD\" — https://www.xapobank.com/en/banking/borrow, read 2026-10-05"},"observed":null}},{"venue_id":"corp_blockchain_group","display_name":"Capital B","operator":"Capital B (formerly The Blockchain Group)","venue_type":"corporate_debt","chain_id":null,"family_id":"blockchain_group","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"administered","source_type":"filings","status":"registered","first_block":null,"first_date":"2026-09-22","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Its credit is unlisted, zero-coupon, bitcoin-indexed convertible bonds (OCA) — no market price and no coupon to quote.","validated":false},"quantity":{"level":"partial","reason":"Six OCA series outstanding (EUR 82.4m nominal, 821 BTC as the issuer states them) from the issuer's filed 2026-09-14 table; registered in EUR and shown apart from USD totals.","validated":false},"composition":{"level":"none","reason":"Convertible notes and secured debt sourced from filings. Slow-moving and partly manual; no ingestion built. Included in the registry despite holding nothing because this is the largest tranche of Bitcoin-collateralised credit by notional and nobody aggregates it — an empty row that names the gap is the point.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"not_applicable"},"liquidation_mechanism":{"value":"not_applicable"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"administered"},"custody_model":{"value":"not_applicable"},"collateral_asset":{"value":"None pledged — 3,525 BTC on the issuer's balance sheet; repayment is indexed to the bitcoin acquired"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":null,"observed":[{"currency":"eur","assets":["capital_b_oca_a_03","capital_b_oca_a_04","capital_b_oca_a_05","capital_b_oca_b_02","capital_b_oca_b_03","capital_b_oca_b_04"],"debt_usd":92813144,"debt_native":82434625,"rows":6,"as_of":"2026-09-14","observer":"filing"}]}},{"venue_id":"corp_marathon","display_name":"MARA Holdings","operator":"MARA Holdings, Inc.","venue_type":"corporate_debt","chain_id":null,"family_id":"mara","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"administered","source_type":"filings","status":"registered","first_block":null,"first_date":"2026-08-08","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Convertible notes and secured debt sourced from filings. Slow-moving and partly manual; no ingestion built. Included in the registry despite holding nothing because this is the largest tranche of Bitcoin-collateralised credit by notional and nobody aggregates it — an empty row that names the gap is the point.","validated":false},"quantity":{"level":"none","reason":"Convertible notes and secured debt sourced from filings. Slow-moving and partly manual; no ingestion built. Included in the registry despite holding nothing because this is the largest tranche of Bitcoin-collateralised credit by notional and nobody aggregates it — an empty row that names the gap is the point.","validated":false},"composition":{"level":"none","reason":"Convertible notes and secured debt sourced from filings. Slow-moving and partly manual; no ingestion built. Included in the registry despite holding nothing because this is the largest tranche of Bitcoin-collateralised credit by notional and nobody aggregates it — an empty row that names the gap is the point.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"administered"},"custody_model":{"value":"undisclosed"},"collateral_asset":{"value":"BTC pledged (18,750) to two term facilities; the notes are unsecured"},"recourse":{"value":"recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["mara_aug2032","mara_coinbase_2028","mara_dec2026","mara_jun2031","mara_mar2030","mara_sep2031","mara_twoprime_2028"],"debt_usd":3047201000,"debt_native":3047201000,"rows":7,"as_of":"2026-08-04","observer":"filing"}]}},{"venue_id":"corp_metaplanet","display_name":"Metaplanet","operator":"Metaplanet Inc.","venue_type":"corporate_debt","chain_id":null,"family_id":"metaplanet","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"administered","source_type":"filings","status":"registered","first_block":null,"first_date":"2026-09-22","backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"The USD bitcoin-backed facility carries a filed weighted rate (7.25% at 2025-12-31); the yen bonds and Class B preferred state fixed rates but trade on no market this estate reads.","validated":false},"quantity":{"level":"partial","reason":"USD 414m drawn on the BTC-secured facility, a JPY 8bn bond and JPY 23.6bn of Class B preferred, from the 2026-06-30 filings; JPY shown apart from USD totals.","validated":false},"composition":{"level":"none","reason":"Convertible notes and secured debt sourced from filings. Slow-moving and partly manual; no ingestion built. Included in the registry despite holding nothing because this is the largest tranche of Bitcoin-collateralised credit by notional and nobody aggregates it — an empty row that names the gap is the point.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"undisclosed"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"administered"},"custody_model":{"value":"undisclosed"},"collateral_asset":{"value":"BTC pledged to one credit facility (count undisclosed); the bonds and preferred are unsecured"},"recourse":{"value":"recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["metaplanet_btc_facility"],"debt_usd":414000000,"debt_native":414000000,"rows":1,"as_of":"2026-06-30","observer":"filing"},{"currency":"jpy","assets":["metaplanet_bond_20","metaplanet_class_b"],"debt_usd":200304163,"debt_native":31610000000,"rows":2,"as_of":"2026-06-30","observer":"filing"}]}},{"venue_id":"corp_riot","display_name":"Riot Platforms","operator":"Riot Platforms","venue_type":"corporate_debt","chain_id":null,"family_id":"riot","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"administered","source_type":"filings","status":"registered","first_block":null,"first_date":"2026-08-08","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Convertible notes and secured debt sourced from filings. Slow-moving and partly manual; no ingestion built. Included in the registry despite holding nothing because this is the largest tranche of Bitcoin-collateralised credit by notional and nobody aggregates it — an empty row that names the gap is the point.","validated":false},"quantity":{"level":"none","reason":"Convertible notes and secured debt sourced from filings. Slow-moving and partly manual; no ingestion built. Included in the registry despite holding nothing because this is the largest tranche of Bitcoin-collateralised credit by notional and nobody aggregates it — an empty row that names the gap is the point.","validated":false},"composition":{"level":"none","reason":"Convertible notes and secured debt sourced from filings. Slow-moving and partly manual; no ingestion built. Included in the registry despite holding nothing because this is the largest tranche of Bitcoin-collateralised credit by notional and nobody aggregates it — an empty row that names the gap is the point.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"fixed_term"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"administered"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"BTC pledged (5,821) to one term facility; the notes are unsecured"},"recourse":{"value":"recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["riot_2030_notes","riot_btc_facility"],"debt_usd":794383000,"debt_native":794383000,"rows":2,"as_of":"2026-06-30","observer":"filing"}]}},{"venue_id":"corp_strategy","display_name":"Strategy (MicroStrategy)","operator":"Strategy (MicroStrategy)","venue_type":"corporate_debt","chain_id":null,"family_id":"strategy","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"administered","source_type":"filings","status":"registered","first_block":null,"first_date":"2025-01-31","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Convertible notes and secured debt sourced from filings. Slow-moving and partly manual; no ingestion built. Included in the registry despite holding nothing because this is the largest tranche of Bitcoin-collateralised credit by notional and nobody aggregates it — an empty row that names the gap is the point.","validated":false},"quantity":{"level":"none","reason":"Convertible notes and secured debt sourced from filings. Slow-moving and partly manual; no ingestion built. Included in the registry despite holding nothing because this is the largest tranche of Bitcoin-collateralised credit by notional and nobody aggregates it — an empty row that names the gap is the point.","validated":false},"composition":{"level":"none","reason":"Convertible notes and secured debt sourced from filings. Slow-moving and partly manual; no ingestion built. Included in the registry despite holding nothing because this is the largest tranche of Bitcoin-collateralised credit by notional and nobody aggregates it — an empty row that names the gap is the point.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"not_applicable"},"liquidation_mechanism":{"value":"not_applicable"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"administered"},"custody_model":{"value":"not_applicable"},"collateral_asset":{"value":"None pledged — 762,099 BTC on the issuer's balance sheet, no lien"},"recourse":{"value":"recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["strategy_conv_2028","strategy_conv_2029","strategy_conv_2030a","strategy_conv_2030b","strategy_conv_2031","strategy_conv_2032","strategy_strc","strategy_strd","strategy_strf","strategy_strk"],"debt_usd":21291595000,"debt_native":21291595000,"rows":10,"as_of":"2026-06-30","observer":"filing"},{"currency":"eur","assets":["strategy_stre"],"debt_usd":884120000,"debt_native":775000000,"rows":1,"as_of":"2026-06-30","observer":"filing"}]}},{"venue_id":"corp_strive","display_name":"Strive","operator":"Strive, Inc.","venue_type":"corporate_debt","chain_id":null,"family_id":"strive","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"administered","source_type":"filings","status":"registered","first_block":null,"first_date":"2025-11-06","backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"SATA is priced daily from its NASDAQ close (EODHD) and its yield computed from the board's cited monthly declarations — from 2026-07-01 only, until the earlier months' 8-Ks are read. A holder's yield, not a borrower's rate.","validated":false},"quantity":{"level":"partial","reason":"Outstanding SATA and bitcoin held are read from the quarterly 10-Q (2026-06-30); the ATM programme changes the share count between filings, so the quantity is a quarterly snapshot.","validated":false},"composition":{"level":"none","reason":"Financed BY bitcoin, not backed by it: no lien on the coins and no loan-level data. Unobtainable, not unbuilt.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Added 2026-09-21. Strive (ASST) issues SATA, a NASDAQ-listed variable-rate perpetual preferred — the second listed bitcoin-treasury credit instrument after Strategy's. Absorbed Semler Scientific in January 2026. Terms, size and holdings in registry/corporate_registry.yaml (strive_sata).","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"not_applicable"},"liquidation_mechanism":{"value":"not_applicable"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"administered"},"custody_model":{"value":"not_applicable"},"collateral_asset":{"value":"None pledged — 19,864 BTC on the issuer's balance sheet, no lien"},"recourse":{"value":"recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":null,"observed":[{"currency":"usd","assets":["strive_sata"],"debt_usd":782950200,"debt_native":782950200,"rows":1,"as_of":"2026-06-30","observer":"filing"}]}},{"venue_id":"broker_fidelity","display_name":"Fidelity","operator":"Fidelity Brokerage Services LLC","venue_type":"broker","chain_id":null,"family_id":"fidelity","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-08-07","backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Published margin schedule, base rate plus tier spread. Sourced 2026-08-07 from fidelity.com/trading/margin-loans/overview: base margin rate 10.575% effective 2025-12-12, with tiers running from 11.825% (1.250% above base) at 0-24,999 down through 11.325% (0.750% above) at 25,000-49,999 to rates below base at the largest balances. Reconstructible from the base-rate series plus archived snapshots. NOT YET INGESTED. The rate is the broker general margin schedule and is NOT bitcoin-specific: the same debit balance is charged the same whether the collateral is a BTC ETP or any other marginable security. What IS bitcoin-specific is the collateral - whether the ETP is marginable and at what maintenance requirement. Publishing this as a \"BTC borrow rate\" without that sentence would imply a product that does not exist.","validated":false},"quantity":{"level":"partial","reason":"Market-level only, as for every broker in this class: FINRA monthly aggregate margin debt. Security-level is not published by anyone and is declared, not estimated (section 8.1).","validated":false},"composition":{"level":"none","reason":"Loan-level composition is unobtainable in the posted class (section 8.1); a broker publishes no collateral breakdown of its margin book. Collateral is etp_share (section 6.1).","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"discretionary"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"Spot-bitcoin ETP shares, where marginable (a claim on a trust, not on coins)"},"recourse":{"value":"undisclosed"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd"],"basis":"published","source":"Assets: USD (margin debit). \"The following table shows the premiums and discounts we apply to our base rate depending on the average debit balance: ... $0-$24,999.99 ... $1,000,000+\" — Fidelity Brokerage Account Customer Agreement, https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/brokerage-account-customer-agreement.pdf, read 2026-10-05"},"observed":null}},{"venue_id":"broker_ibkr","display_name":"Interactive Brokers","operator":"Interactive Brokers LLC","venue_type":"broker","chain_id":null,"family_id":"ibkr","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-08-08","backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Published margin schedule, benchmark plus tier spread, and therefore reconstructible to depth from the benchmark series plus archived card snapshots rather than requiring dense capture. Sourced 2026-08-07 from interactivebrokers.com/en/trading/margin-rates.php: IBKR Pro USD tiers 0-100,000 at 5.130% (BM + 1.5%), 100,000-1,000,000 at 4.630% (BM + 1%), 1,000,000-50,000,000 at 4.380% (BM + 0.75%); IBKR Lite 6.130% (BM + 2.5%) across those tiers. NOT YET INGESTED. The rate is the broker general margin schedule and is NOT bitcoin-specific: the same debit balance is charged the same whether the collateral is a BTC ETP or any other marginable security. What IS bitcoin-specific is the collateral - whether the ETP is marginable and at what maintenance requirement. Publishing this as a \"BTC borrow rate\" without that sentence would imply a product that does not exist.","validated":false},"quantity":{"level":"partial","reason":"Market-level only: FINRA publishes monthly aggregate margin debt for the US brokerage industry. Security-level margin debt against any individual BTC ETP is not published by FINRA, the broker or the issuer, so the share of that aggregate financed against bitcoin exposure is unobtainable and is declared rather than estimated (spec section 8.1).","validated":false},"composition":{"level":"none","reason":"Loan-level composition is unobtainable in the posted class everywhere (section 8.1), and a broker publishes no breakdown of what collateral secures its margin book. The collateral is etp_share, which is economically bitcoin and legally a security; a holder can never redeem shares for coins, so this is a claim on a trust rather than on the coins (section 6.1).","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"Spot-bitcoin ETP shares, where marginable (a claim on a trust, not on coins)"},"recourse":{"value":"recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd","eur","gbp","chf","other"],"basis":"published","source":"Assets: USD; EUR; CHF; GBP; other currencies (IBKR: 'trade in up to 29 currencies'). \"Example 3 - Interest Charged to You (EUR) on a net Negative Cash Balance\"; \"When you borrow money in CHF, interest will be calculated as follows\" — https://www.interactivebrokers.com/en/accounts/fees/interestCharged-Examples.php, read 2026-10-05"},"observed":null}},{"venue_id":"broker_schwab","display_name":"Charles Schwab","operator":"Charles Schwab & Co., Inc.","venue_type":"broker","chain_id":null,"family_id":"schwab","deployment":null,"agent_access":{"state":"not_surveyed"},"rate_mechanism":"posted_card","source_type":"published_card","status":"registered","first_block":null,"first_date":"2026-08-08","backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Schwab publishes a base-plus-tier margin schedule on the same pattern as its peers, so the price axis is obtainable in principle. ⚠ IT IS NOT MACHINE-SOURCEABLE BY THE ROUTE USED FOR THE OTHERS: schwab.com/margin/rates returned 216 characters of text on 2026-08-07, the schedule being client-rendered. This is a capture-route gap, NOT an absence in the record, and the distinction matters - the rates are public. Fill route: a rendering fetch, or the archived snapshots, or the printed rate schedule. NOT YET INGESTED. The rate is the broker general margin schedule and is NOT bitcoin-specific: the same debit balance is charged the same whether the collateral is a BTC ETP or any other marginable security. What IS bitcoin-specific is the collateral - whether the ETP is marginable and at what maintenance requirement. Publishing this as a \"BTC borrow rate\" without that sentence would imply a product that does not exist.","validated":false},"quantity":{"level":"partial","reason":"Market-level only: FINRA monthly aggregate margin debt. Security-level unobtainable and declared (section 8.1).","validated":false},"composition":{"level":"none","reason":"Loan-level composition is unobtainable in the posted class (section 8.1). Collateral is etp_share (section 6.1).","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":null,"market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":"undisclosed"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"posted_card"},"custody_model":{"value":"third_party_custodial"},"collateral_asset":{"value":"Spot-bitcoin ETP shares, where marginable (a claim on a trust, not on coins)"},"recourse":{"value":"recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"bitcoin_collateral","scope_src":"Takes bitcoin as collateral: the registry, a contract read or the aggregator names a bitcoin collateral market.","collateral_set":["btc"],"research_tier":{"tier":"full","basis":"not_aggregator_sourced","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":{"currencies":["usd"],"basis":"published","source":"Assets: USD (margin debit). \"Current margin rates Debit Balance $100-$24,999.99 ... Base Rate + 1.825%\" — https://www.schwab.com/margin/margin-rates-and-requirements, read 2026-10-05; \"You will not have the ability to trade on margin ... in your Schwab Global Account™\" — https://www.schwab.com/legal/schwab-global-account-agreement, read 2026-10-05"},"observed":null}}],"credit_state":{"snapshot_date":"2026-10-13","curve":"BTC-USD","quantity":{"bcl":{"btc":161953.68625371828,"usd":13414207693.977665,"by_observer":{"contract_state":{"btc":135005.88442450436,"venues":20},"aggregator":{"btc":null,"venues":0},"direct_reads":{"btc":26947.801829213917,"venues":65}}},"bcd":{"usd_exact":2492537290.2775126,"usd_bound":530302854.1714943,"note":"usd_exact is BTC-attributed debt read directly from venues whose architecture makes it exact. usd_bound is a market-wide upper bound from venues where BTC debt cannot be isolated. They are different quantities and must not be added."},"bclv":{"value":0.4908787260609959,"note":"Leverage over the exact-attribution subset only. A market-wide numerator over a BTC-specific denominator is not a leverage ratio."}},"valuation":{"by_parity_usd":3022840144.4490066,"by_observation_usd":null,"parity_warning":false,"depegged_assets":[],"unmonitored_assets":["apxUSD","AUSD","DOLA","EURC","EURCV","EURe","EUROP","eUSD","FRAX","frxUSD","GHO","jEUR","JupUSD","msUSD","mUSD","pathUSD","tGBP","TUSD","U","USD₮0","USD0","USD1","USDD","USDe","USDG","USDHL","USDT0","USDtb","vbUSDC","vbUSDT","VCHF","ZCHF"],"note":"Major stablecoins are valued at par to their PEG CURRENCY (not to the dollar) as a documented convention, not a measurement. parity_warning is true when an asset behind these figures has held a deviation beyond 50 bps across three consecutive observations, in which case debt in it carries a fluctuating value."},"other_denominations":{"eth_usd":97871828.84846777,"eth_native":39891.55004954892,"eur_usd":28936458.747546516,"btc_usd":4130987.472721573,"note":"Debt against BTC collateral denominated in something other than USD. These belong to the BTC-ETH, BTC-EUR and BTC-BTC curves, which are not in scope, and are NOT part of bcd."},"coverage":{"counted":"venues_in_universe: the venues in the registry's bitcoin scope that are not defunct or retired. venues_contributing: those whose figures entered this reading. venues_absent: the rest of the universe, by id. pct: the share of rows in the universe read exactly or as a bound.","pct":66.4,"venues_contributing":85,"venues_in_universe":128,"venues_absent":["asymmetry_usdaf_ethereum","avalon_finance_bob","broker_fidelity","broker_ibkr","broker_schwab","cefi_arch","cefi_cantor","cefi_coinbase_morpho","cefi_figure","cefi_galaxy","cefi_ledn","cefi_milo","cefi_nexo","cefi_salt","cefi_strike","cefi_tether","cefi_two_prime","cefi_unchained","cefi_xapo","colend_protocol_core","corp_blockchain_group","corp_marathon","corp_metaplanet","corp_riot","corp_strategy","corp_strive","euler_v2_unichain","exactly_optimism","extra_finance_xlend_base","extra_finance_xlend_optimism","fira_ethereum","folks_finance_xchain_avalanche","folks_finance_xchain_base","folks_finance_xchain_ethereum","folks_finance_xchain_monad","justlend_v1_tron","kinza_finance_bsc","layerbank_move","maple_ethereum","silo_v2_avalanche","silo_v2_sonic","tender_finance_arbitrum","zentra_finance_citrea"],"rows":{"exact":270,"bound":18,"unavailable":207,"with_collateral":265,"total":495},"debt_unvalued_rows":75,"debt_assets_unvalued":["AERO","AUSD","BOLD","CANA","EURA","eUSD","frxUSD","FXUSD","JPYC","LCAP","mUSD","MUSD","MXNB","PT-corn-eBTC-27MAR2025","PT-corn-SolvBTC.BBN-26DEC2024","rUSD","sUSDS","TESTUSD","tGBP","USD0","USDA","USDCV","USDQ","USDR","USDU","USDX","USR","VCHF","VUSD","wM","wUSDM","XSGD","ZCHF"],"venues_outside_universe":[{"venue_id":"cefi_blockfi","status":"defunct"},{"venue_id":"cefi_celsius","status":"defunct"},{"venue_id":"cefi_cred","status":"defunct"},{"venue_id":"cefi_genesis","status":"defunct"},{"venue_id":"cefi_hodlnaut","status":"defunct"},{"venue_id":"cefi_vauld","status":"defunct"},{"venue_id":"cefi_voyager","status":"defunct"}]},"btc_price_ref":82847.43007701098,"read_at":{},"collateral_mix":{"total_btc":161953.68625371825,"wrappers":[{"symbol":"cbBTC","btc":76748.3025118671,"usd":6357344375.693325,"share":0.4738904330441263},{"symbol":"WBTC","btc":56688.13149752325,"usd":4694862369.451526,"share":0.35002680586544394},{"symbol":"kBTC","btc":7635.76056361,"usd":632510521.596879,"share":0.04714780342602231},{"symbol":"BTCB","btc":6589.64754882271,"usd":545884443.4085686,"share":0.04068846903860714},{"symbol":"LBTC","btc":5142.463964682529,"usd":425811632.09077984,"share":0.03175268240962601},{"symbol":"SolvBTC","btc":2653.8980535326814,"usd":220472093.4804703,"share":0.016386771520439852},{"symbol":"tBTC","btc":2067.055851064669,"usd":171184490.33143902,"share":0.012763252871110317},{"symbol":"BTC.b","btc":1528.44861757,"usd":126597415.7691379,"share":0.00943756609019394},{"symbol":"enzoBTC","btc":704.89995763,"usd":57753707.61568126,"share":0.0043524786248193},{"symbol":"eBTC","btc":663.4710025146,"usd":54949121.49337416,"share":0.004096671201884221},{"symbol":"UBTC","btc":433.87458434115746,"usd":35994474.19463847,"share":0.0026790040682460616},{"symbol":"FBTC","btc":417.94896105,"usd":34577659.44685447,"share":0.0025806696390672885},{"symbol":"xBTC","btc":307.9223077325023,"usd":25474016.18210922,"share":0.0019012985431533073},{"symbol":"vbWBTC","btc":150.26722619,"usd":12428877.92927943,"share":0.000927840728210347},{"symbol":"WBTC.e","btc":130.600681,"usd":10815162.91180664,"share":0.0008064075849153547},{"symbol":"CDCBTC","btc":26.82143109,"usd":2225883.740545208,"share":0.00016561173574018736},{"symbol":"BTC","btc":22.25686737,"usd":1853082.072103419,"share":0.00013742735892489764},{"symbol":"feUBTC","btc":21.031700007073397,"usd":1738157.0323063652,"share":0.0001298624347094201},{"symbol":"uniBTC","btc":16.00007511,"usd":1325565.103902649,"share":0.00009879413973285008},{"symbol":"yvvbWBTC","btc":3.73962372,"usd":310053.29164218117,"share":0.000023090698374975353},{"symbol":"zBTC","btc":1.14322727,"usd":94591.13963949517,"share":0.000007058976528691102}],"unresolved_btc":2e-8,"note":"Shares of quantity.bcl, decomposed from the rows that sum to it. One observer per venue per date: the contract-state read for the venues read directly, and for every other venue the supplied amount of each pegged bitcoin reserve as its pool was observed — by the aggregator, or pool by pool from the venue's own contracts or API (150). Symbols come from the token contract, or from the aggregator row. A wrapper is a distinct counterparty exposure, not a label.","history":[{"date":"2019-07-22","total_btc":93.3355976,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":93.3355976,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-07-29","total_btc":83.07908462,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":83.07908462,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-08-05","total_btc":87.24897506,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":87.24897506,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-08-12","total_btc":90.29360133,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":90.29360133,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-08-19","total_btc":102.39711148,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":102.39711148,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-08-26","total_btc":101.17201068999998,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":101.17201068999998,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-09-02","total_btc":103.00507439,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":103.00507439,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-09-09","total_btc":102.91995292,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":102.91995292,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-09-16","total_btc":102.95268694999999,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":102.95268694999999,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-09-23","total_btc":104.12221268,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":104.12221268,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-09-30","total_btc":124.32846178999998,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":124.32846178999998,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-10-07","total_btc":131.91932603,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":131.91932603,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-10-14","total_btc":134.55321457,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":134.55321457,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-10-21","total_btc":135.73768635999997,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":135.73768635999997,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-10-28","total_btc":134.32506183,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":134.32506183,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-11-04","total_btc":142.23129238,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":142.23129238,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-11-11","total_btc":145.41240271,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":145.41240271,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-11-18","total_btc":147.59972373999997,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":147.59972373999997,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-11-25","total_btc":150.95217006,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":150.95217006,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-12-02","total_btc":148.01111172,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":148.01111172,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-12-09","total_btc":146.58600312,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":146.58600312,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-12-16","total_btc":149.51562610999997,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":149.51562610999997,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-12-23","total_btc":149.67990301999998,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":149.67990301999998,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2019-12-30","total_btc":153.74813631,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":153.74813631,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-01-06","total_btc":140.40757585999998,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":140.40757585999998,"usd":null}],"venues":1,"markets":1,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-01-13","total_btc":161.09353348,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":161.09353348,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-01-20","total_btc":168.50298105999997,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":168.50298105999997,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-01-27","total_btc":172.0910431,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":172.0910431,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-02-03","total_btc":192.16801936,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":192.16801936,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-02-10","total_btc":172.13994583999997,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":172.13994583999997,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-02-17","total_btc":210.67735435999995,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":210.67735435999995,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-02-24","total_btc":204.07256619,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":204.07256619,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-03-02","total_btc":201.3634445,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":201.3634445,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-03-09","total_btc":271.07971344,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":271.07971344,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-03-16","total_btc":184.41395820000002,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":184.41395820000002,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-03-23","total_btc":220.43677474999998,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":220.43677474999998,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-03-30","total_btc":252.3030449,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":252.3030449,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-04-06","total_btc":313.03391467,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":313.03391467,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-04-13","total_btc":229.31458160999998,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":229.31458160999998,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-04-20","total_btc":210.29971142,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":210.29971142,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-04-27","total_btc":207.75633881999997,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":207.75633881999997,"usd":null}],"venues":2,"markets":2,"cadence":"weekly","observers":["archive_read"],"era":"archive"},{"date":"2020-05-04","total_btc":286.88542723,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":286.88542723,"usd":null}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-05-11","total_btc":301.9497576,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":301.9497576,"usd":null}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-05-18","total_btc":352.74828763,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":352.74828763,"usd":null}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-05-25","total_btc":2910.402252705923,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":2910.402252705923,"usd":null}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-06-01","total_btc":2945.192854505923,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":2945.192854505923,"usd":null}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-06-08","total_btc":2963.518502095923,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":2963.518502095923,"usd":null}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-06-15","total_btc":3014.888131855923,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":3014.888131855923,"usd":null}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-06-22","total_btc":6112.680111435922,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":6112.680111435922,"usd":null}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-06-29","total_btc":6166.483818195922,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":6166.483818195922,"usd":null}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-07-06","total_btc":6678.012731985923,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":6678.012731985923,"usd":null}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-07-13","total_btc":7631.313009185924,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":7631.313009185924,"usd":70095005.35413297}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-07-20","total_btc":8743.187556505924,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":8743.187556505924,"usd":79471686.54707637}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-07-27","total_btc":10632.997578265922,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":10632.997578265922,"usd":117786196.44791724}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-08-03","total_btc":11630.682930455923,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":11630.682930455923,"usd":130746850.205585}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-08-10","total_btc":13240.399771665921,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":13240.399771665921,"usd":156225278.4474196}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-08-17","total_btc":18802.123384805924,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":18802.123384805924,"usd":230022789.48526156}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-08-24","total_btc":19602.323819975925,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":19602.323819975925,"usd":232581879.4853561}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-08-31","total_btc":21883.93571211775,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":21883.93571211775,"usd":257590344.23266858}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-09-07","total_btc":28587.99728503775,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":28587.99728503775,"usd":298530696.75409687}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-09-14","total_btc":31511.150914247748,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":31511.150914247748,"usd":337254324.4829981}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-09-21","total_btc":27961.35619100775,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":27961.35619100775,"usd":291395707.19996345}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-09-28","total_btc":25122.387750947124,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":25122.387750947124,"usd":268218492.1652511}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-10-05","total_btc":33008.43960129713,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":33008.43960129713,"usd":356303759.6667294}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-10-12","total_btc":32777.923410727126,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":32777.923410727126,"usd":378385042.1525643}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-10-19","total_btc":40668.70180133713,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":40668.70180133713,"usd":478541792.860639}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-10-26","total_btc":43874.95469005712,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":43874.95469005712,"usd":576183643.134639}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-11-02","total_btc":49091.567688347124,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":49091.567688347124,"usd":665077714.1154004}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-11-09","total_btc":52342.10909197712,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":52342.10909197712,"usd":799296543.1629717}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-11-16","total_btc":54329.82731583948,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":54329.82731583948,"usd":907381926.6878421}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-11-23","total_btc":56277.813474979484,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":56277.813474979484,"usd":1030767680.192314}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-11-30","total_btc":56490.87225422396,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":56490.87225422396,"usd":1116851924.4315026}],"venues":3,"markets":3,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-12-07","total_btc":54138.70157613081,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":52835.92980558396,"usd":1009825147.4886061},{"symbol":"BTCB","btc":1302.7717705468485,"usd":24899186.977067787}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-12-14","total_btc":54518.93996149783,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":50444.24292595824,"usd":974785941.3434029},{"symbol":"BTCB","btc":4074.697035539591,"usd":78739557.87794554}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-12-21","total_btc":55805.21363538905,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":52086.38937745825,"usd":1183237302.1535015},{"symbol":"BTCB","btc":3718.824257930809,"usd":84479873.43199052}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2020-12-28","total_btc":56653.278672924316,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":52847.433689016274,"usd":1429171300.2348175},{"symbol":"BTCB","btc":3805.8449839080413,"usd":102922773.05557203}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-01-04","total_btc":60844.92497545916,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":56815.51734373756,"usd":1816267204.4513128},{"symbol":"BTCB","btc":4029.4076317215977,"usd":128811305.0275418}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-01-11","total_btc":62145.350755366,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":58318.42781487892,"usd":2072200850.1829865},{"symbol":"BTCB","btc":3826.922940487077,"usd":135980225.599272}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-01-18","total_btc":61228.1569963187,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":58975.51325452892,"usd":2155909565.247061},{"symbol":"BTCB","btc":2252.6437417897755,"usd":82347671.46592931}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-01-25","total_btc":60752.879867756616,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":57328.35132233663,"usd":1842992459.7878208},{"symbol":"BTCB","btc":3424.528545419983,"usd":110091780.80232185}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-02-01","total_btc":64310.47408866623,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":58548.35330643032,"usd":1970373014.4137726},{"symbol":"BTCB","btc":5762.120782235917,"usd":193917107.0395157}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-02-08","total_btc":65292.222755381,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":56644.39376644548,"usd":2629071357.2957234},{"symbol":"BTCB","btc":8647.828988935522,"usd":401377046.97388834}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-02-15","total_btc":74241.63105499456,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":62090.65922288548,"usd":2962500569.0305586},{"symbol":"BTCB","btc":12150.971832109079,"usd":579753241.7505645}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-02-22","total_btc":80806.3564344895,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":62952.35323359548,"usd":3416219818.222948},{"symbol":"BTCB","btc":17854.003200894014,"usd":968878785.8840541}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-03-01","total_btc":83715.7036319572,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65338.03433246201,"usd":3237835650.7538548},{"symbol":"BTCB","btc":18377.669299495203,"usd":910708034.6631544}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-03-08","total_btc":84224.7836340911,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":61344.185863222,"usd":3205710941.0551877},{"symbol":"BTCB","btc":22880.597770869103,"usd":1195689234.1109881}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-03-15","total_btc":88300.04981730171,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":68105.48319033202,"usd":3791484098.8460584},{"symbol":"BTCB","btc":20194.566626969703,"usd":1124246898.5244951}],"venues":5,"markets":5,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-03-22","total_btc":98331.50930384453,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73184.63818085201,"usd":3955315498.5562015},{"symbol":"BTCB","btc":25146.87112299253,"usd":1359080424.0525904}],"venues":5,"markets":6,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-03-29","total_btc":97255.55101922601,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":69243.60905202641,"usd":3978108352.434426},{"symbol":"BTCB","btc":28011.9419671996,"usd":1609311557.170546}],"venues":5,"markets":6,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-04-05","total_btc":111141.16165526139,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":76487.24080432641,"usd":4494147458.104052},{"symbol":"BTCB","btc":34653.92085093496,"usd":2036154379.0550637}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-04-12","total_btc":117146.72669058913,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":79294.24004401549,"usd":4747075669.954641},{"symbol":"BTCB","btc":37852.48664657364,"usd":2266099256.4843197}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-04-19","total_btc":117249.39694185782,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":82168.4216279979,"usd":4573180414.623513},{"symbol":"BTCB","btc":35080.975313859926,"usd":1952473055.3735015}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-04-26","total_btc":120145.35196633023,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":80926.6933467681,"usd":4378350773.628533},{"symbol":"BTCB","btc":39218.658619562135,"usd":2121834430.721749}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-05-03","total_btc":157810.6246514034,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":102891.21953598809,"usd":5893144122.583726},{"symbol":"BTCB","btc":54919.40511541531,"usd":3145535361.8245587}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-05-10","total_btc":170294.44956335204,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":109562.51777470807,"usd":6153706626.165481},{"symbol":"BTCB","btc":60731.931788643975,"usd":3411079798.6232586}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-05-17","total_btc":166898.70737517247,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":121817.91789623593,"usd":5324883865.938913},{"symbol":"BTCB","btc":45080.789478936545,"usd":1970563712.6769123}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-05-24","total_btc":139941.00580270903,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":113429.9260676846,"usd":4390965041.144184},{"symbol":"BTCB","btc":26511.079735024425,"usd":1026265539.9247628}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-05-31","total_btc":151543.45192930626,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":126162.25598930028,"usd":4736173042.167942},{"symbol":"BTCB","btc":25381.195940005993,"usd":952818535.5153581}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-06-07","total_btc":147780.4873916767,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":126796.08836243136,"usd":4258086761.827578},{"symbol":"BTCB","btc":20984.399029245345,"usd":704701484.6067741}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-06-14","total_btc":147690.73300074096,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":127249.16121093003,"usd":5148817930.775203},{"symbol":"BTCB","btc":20441.571789810925,"usd":827116896.9840457}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-06-21","total_btc":125764.26445503756,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":105706.5975131623,"usd":3334636330.234772},{"symbol":"BTCB","btc":20057.666941875257,"usd":632742198.288975}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-06-28","total_btc":124262.64278348602,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":103737.17875975014,"usd":3565062412.524506},{"symbol":"BTCB","btc":20525.46402373588,"usd":705384136.772345}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-07-05","total_btc":123520.05115910657,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":103297.95148682219,"usd":3486359207.9698825},{"symbol":"BTCB","btc":20222.09967228438,"usd":682506307.0679319}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-07-12","total_btc":122863.82630829641,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":102624.37736651218,"usd":3394625088.2675014},{"symbol":"BTCB","btc":20239.448941784234,"usd":669483634.5278469}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-07-19","total_btc":128080.51847424456,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":106469.51628109219,"usd":3281904797.292128},{"symbol":"BTCB","btc":21611.002193152366,"usd":666155480.4545778}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-07-26","total_btc":122746.60892791316,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":103718.37565843838,"usd":3880072632.759166},{"symbol":"BTCB","btc":19028.23326947477,"usd":711840372.4503349}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-08-02","total_btc":121292.22152836184,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":104185.51187129837,"usd":4098030922.589825},{"symbol":"BTCB","btc":17106.70965706348,"usd":672874989.0389004}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-08-09","total_btc":125377.58506235099,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":108139.42954852106,"usd":4998976421.311955},{"symbol":"BTCB","btc":17238.155513829934,"usd":796870607.8838663}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-08-16","total_btc":123880.48757202565,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":106601.02571750106,"usd":4900189390.860605},{"symbol":"BTCB","btc":17279.461854524594,"usd":794294755.5092889}],"venues":6,"markets":7,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-08-23","total_btc":125292.52162242001,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":104854.75299932469,"usd":5191155425.087959},{"symbol":"BTCB","btc":16530.350337905325,"usd":818385579.8675573},{"symbol":"WBTC.e","btc":3907.41828519,"usd":193448699.73974952}],"venues":7,"markets":8,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-08-30","total_btc":128266.11460670232,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":104793.09695761469,"usd":4940293371.992383},{"symbol":"BTCB","btc":15785.795726087632,"usd":744194648.8971438},{"symbol":"WBTC.e","btc":7687.221923,"usd":362401080.0119012}],"venues":7,"markets":8,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-09-06","total_btc":129653.76879643749,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":107965.20770160947,"usd":5679436394.733222},{"symbol":"BTCB","btc":14688.65496376803,"usd":772686714.2372878},{"symbol":"WBTC.e","btc":6999.90613106,"usd":368225305.9738775}],"venues":7,"markets":8,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-09-13","total_btc":126890.79574003498,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":106060.73338066947,"usd":4775104163.269199},{"symbol":"BTCB","btc":14343.169946925527,"usd":645763312.6316351},{"symbol":"WBTC.e","btc":6486.89241244,"usd":292055183.6478929}],"venues":7,"markets":8,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-09-20","total_btc":130523.54532845288,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":107312.00745006948,"usd":4590936937.7453985},{"symbol":"BTCB","btc":15790.139481323406,"usd":675521186.4868777},{"symbol":"WBTC.e","btc":7421.39839706,"usd":317496362.6194395}],"venues":7,"markets":8,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-09-27","total_btc":134455.76251163325,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":107858.56341486947,"usd":4571087408.104497},{"symbol":"BTCB","btc":18310.06477751379,"usd":775987588.7103875},{"symbol":"WBTC.e","btc":8287.13431925,"usd":351211940.3100819}],"venues":7,"markets":8,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-10-04","total_btc":136141.28859899478,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":108081.94406027946,"usd":5312042350.197586},{"symbol":"BTCB","btc":20972.374727875333,"usd":1030756281.3318188},{"symbol":"WBTC.e","btc":7086.969810840001,"usd":348312422.5518905}],"venues":8,"markets":9,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-10-11","total_btc":133495.0393219392,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":100803.94857720946,"usd":5769577544.725595},{"symbol":"BTCB","btc":19666.704256139717,"usd":1125636216.2050948},{"symbol":"WBTC.e","btc":13024.38648859,"usd":745458971.3897946}],"venues":8,"markets":9,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-10-18","total_btc":139950.5794205182,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":105052.84236373061,"usd":6501046318.348853},{"symbol":"BTCB","btc":20396.10018391759,"usd":1262183764.1502068},{"symbol":"WBTC.e","btc":14501.63687287,"usd":897413252.9987795}],"venues":8,"markets":9,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-10-25","total_btc":149741.60982490913,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":114361.10669589325,"usd":7187571544.701551},{"symbol":"WBTC.e","btc":18168.18518938,"usd":1141866624.5798514},{"symbol":"BTCB","btc":17212.31793963589,"usd":1081790568.6262968}],"venues":8,"markets":9,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-11-01","total_btc":136353.6093015237,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":101404.271213991,"usd":6182891465.759287},{"symbol":"WBTC.e","btc":18272.17242983,"usd":1114103554.26617},{"symbol":"BTCB","btc":16677.165657702702,"usd":1016851696.5174652}],"venues":8,"markets":9,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-11-08","total_btc":158856.66492404905,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":121580.285631061,"usd":8171944611.624195},{"symbol":"WBTC.e","btc":18911.89574531,"usd":1271151517.1173556},{"symbol":"BTCB","btc":18364.483547678054,"usd":1234357540.7291896}],"venues":8,"markets":9,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-11-15","total_btc":161191.2254201104,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":123042.49791614099,"usd":7846883902.736622},{"symbol":"WBTC.e","btc":20277.21190893,"usd":1293154238.7005568},{"symbol":"BTCB","btc":17871.515595039422,"usd":1139733916.4537954}],"venues":8,"markets":9,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-11-22","total_btc":164528.51638896245,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":128360.56958431099,"usd":7238687009.918137},{"symbol":"WBTC.e","btc":20581.38928335,"usd":1160654208.1725345},{"symbol":"BTCB","btc":15586.557521301476,"usd":878978737.9735742}],"venues":8,"markets":9,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-11-29","total_btc":161520.11636447834,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":123808.30596657548,"usd":7185860811.58339},{"symbol":"WBTC.e","btc":21543.45575925,"usd":1250386824.0331843},{"symbol":"BTCB","btc":16168.354638652852,"usd":938414794.3761069}],"venues":8,"markets":11,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-12-06","total_btc":164354.62625502667,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":123932.83001387377,"usd":6268403749.754769},{"symbol":"WBTC.e","btc":24013.512635299998,"usd":1214580451.6127584},{"symbol":"BTCB","btc":16408.283605852885,"usd":829915257.0828397}],"venues":8,"markets":11,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-12-13","total_btc":160434.00256680514,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":122187.85212236553,"usd":5720936352.818279},{"symbol":"WBTC.e","btc":20320.45114737,"usd":951420338.8912665},{"symbol":"BTCB","btc":17925.699297069597,"usd":839296075.4854225}],"venues":8,"markets":11,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-12-20","total_btc":163998.55120727388,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":126547.7728635355,"usd":5943564691.517838},{"symbol":"WBTC.e","btc":21088.5567558,"usd":990465485.8209648},{"symbol":"BTCB","btc":16362.221587938375,"usd":768483872.1715964}],"venues":9,"markets":12,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2021-12-27","total_btc":165470.99494313283,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":126948.67621288552,"usd":6448868341.036915},{"symbol":"WBTC.e","btc":21171.68964185,"usd":1075501085.4042072},{"symbol":"BTCB","btc":17350.62908839732,"usd":881394953.9544897}],"venues":9,"markets":12,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-01-03","total_btc":163787.48257056536,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":125884.35193958551,"usd":5837224316.414225},{"symbol":"WBTC.e","btc":20924.13695127,"usd":970246731.4646988},{"symbol":"BTCB","btc":16978.993679709834,"usd":787311474.7654315}],"venues":9,"markets":12,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-01-10","total_btc":169829.1378993193,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":130020.97896333961,"usd":5421680594.99332},{"symbol":"WBTC.e","btc":22777.847434659998,"usd":949802212.0494463},{"symbol":"BTCB","btc":17030.3115013197,"usd":710138549.4061733}],"venues":9,"markets":12,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-01-17","total_btc":171049.54224267998,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":130450.49710063962,"usd":5505135268.997708},{"symbol":"WBTC.e","btc":22053.10975152,"usd":930662243.3988007},{"symbol":"BTCB","btc":18545.935390520342,"usd":782656143.7795066}],"venues":9,"markets":12,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-01-24","total_btc":172233.87862601265,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":135806.88600590528,"usd":4966944866.0834255},{"symbol":"WBTC.e","btc":19820.53192461,"usd":724907934.9459754},{"symbol":"BTCB","btc":16606.46069549738,"usd":607357823.4591897}],"venues":9,"markets":12,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-01-31","total_btc":168035.82983698096,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":133061.41700326264,"usd":5123259887.225476},{"symbol":"WBTC.e","btc":19566.11291777,"usd":753353479.3040521},{"symbol":"BTCB","btc":15408.299915948317,"usd":593265325.6486971}],"venues":9,"markets":12,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-02-07","total_btc":157271.62046595628,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":123037.35017779264,"usd":5405485405.856615},{"symbol":"WBTC.e","btc":18988.46906451,"usd":834233606.7823957},{"symbol":"BTCB","btc":15245.801223653645,"usd":669804379.6941693}],"venues":9,"markets":12,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-02-14","total_btc":157701.90825659895,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":122995.30242617597,"usd":5241310910.267359},{"symbol":"WBTC.e","btc":19548.37929109,"usd":833032901.5446125},{"symbol":"BTCB","btc":15158.226539332978,"usd":645951321.5034931}],"venues":9,"markets":12,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-02-21","total_btc":156692.39490088305,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":121662.159107204,"usd":4520281072.235363},{"symbol":"WBTC.e","btc":18917.43931627,"usd":702865570.5604104},{"symbol":"BTCB","btc":16112.79647740906,"usd":598660828.2484448}],"venues":9,"markets":12,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-02-28","total_btc":155308.98439628468,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":121752.37746293274,"usd":5244432708.361553},{"symbol":"WBTC.e","btc":18300.23114615,"usd":788274798.3518028},{"symbol":"BTCB","btc":15256.375787201936,"usd":657162002.5556895}],"venues":9,"markets":12,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-03-07","total_btc":164796.77023187096,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":126605.74561774154,"usd":4829482048.099774},{"symbol":"BTCB","btc":19764.115961509397,"usd":753918732.257726},{"symbol":"WBTC.e","btc":18426.90865262,"usd":702909841.141775}],"venues":9,"markets":12,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-03-14","total_btc":163817.0312924799,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":126824.38808381154,"usd":5024334496.625244},{"symbol":"WBTC.e","btc":19667.03762182,"usd":779138595.2080126},{"symbol":"BTCB","btc":17325.60558684835,"usd":686379324.5144515}],"venues":9,"markets":12,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-03-21","total_btc":168365.0969546191,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":132235.21765833156,"usd":5433296996.272781},{"symbol":"WBTC.e","btc":19048.850650779998,"usd":782681534.1337386},{"symbol":"BTCB","btc":17081.028645507544,"usd":701827419.9289161}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-03-28","total_btc":169096.07477374387,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":133128.5885703741,"usd":6293118922.177114},{"symbol":"WBTC.e","btc":19478.824881,"usd":920783152.2648207},{"symbol":"BTCB","btc":16488.66132236978,"usd":779435188.8161355}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-04-04","total_btc":146702.14389151335,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":112791.14761575981,"usd":5265731105.420438},{"symbol":"WBTC.e","btc":17854.13352047,"usd":833532313.717963},{"symbol":"BTCB","btc":16056.86275528354,"usd":749625510.9842459}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-04-11","total_btc":153090.2373010125,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":118979.1543859998,"usd":4711436537.747855},{"symbol":"WBTC.e","btc":18037.7073244,"usd":714272292.3519131},{"symbol":"BTCB","btc":16073.375590612715,"usd":636487033.6603115}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-04-18","total_btc":158709.54768736206,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":124064.06251176981,"usd":5068498494.800969},{"symbol":"WBTC.e","btc":18113.75867626,"usd":740017348.5138128},{"symbol":"BTCB","btc":16531.72649933227,"usd":675385193.6001029}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-04-25","total_btc":161903.06764850864,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":126165.31450207463,"usd":5098204910.132315},{"symbol":"WBTC.e","btc":18184.873594290002,"usd":734831218.9799222},{"symbol":"BTCB","btc":17552.87955214401,"usd":709293018.2346605}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-05-02","total_btc":164163.5882343161,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":127027.53568161839,"usd":4915754027.478605},{"symbol":"BTCB","btc":18750.323229077687,"usd":725606274.5394351},{"symbol":"WBTC.e","btc":18385.729323620002,"usd":711497097.7414229}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-05-09","total_btc":187540.54325988717,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":153387.46487412183,"usd":4694904996.423673},{"symbol":"WBTC.e","btc":17088.11015928,"usd":523035267.79114914},{"symbol":"BTCB","btc":17064.968226485325,"usd":522326936.2727048}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-05-16","total_btc":175532.1720910533,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":149633.64255275216,"usd":4480430985.347545},{"symbol":"WBTC.e","btc":14787.56950437,"usd":442779334.0792477},{"symbol":"BTCB","btc":11110.960033931116,"usd":332691824.9379177}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-05-23","total_btc":143472.85057225637,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":118997.02359958441,"usd":3459918121.4127374},{"symbol":"WBTC.e","btc":14044.90877952,"usd":408365124.8569532},{"symbol":"BTCB","btc":10430.918193151958,"usd":303285929.24223614}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-05-30","total_btc":150555.55653503074,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":124423.46041191442,"usd":3952054161.3779516},{"symbol":"WBTC.e","btc":14096.41364935,"usd":447743456.41076565},{"symbol":"BTCB","btc":12035.682473766317,"usd":382288588.0846078}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-06-06","total_btc":149571.91213637413,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":123712.41572880442,"usd":3883374762.9294896},{"symbol":"WBTC.e","btc":13992.0695779,"usd":439215818.0718395},{"symbol":"BTCB","btc":11867.426829669703,"usd":372522560.3247302}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-06-13","total_btc":137978.22052008746,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":114774.49774387333,"usd":2572018537.4111543},{"symbol":"WBTC.e","btc":12449.891902700001,"usd":278993621.3353522},{"symbol":"BTCB","btc":10753.830873514115,"usd":240986045.66831252}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-06-20","total_btc":159548.1367582051,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":139796.78200587028,"usd":2878061758.0034947},{"symbol":"BTCB","btc":10602.272593004838,"usd":218273946.36719498},{"symbol":"WBTC.e","btc":9149.082159329999,"usd":188356435.00358978}],"venues":13,"markets":16,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-06-27","total_btc":157887.05246016203,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":138469.11878797578,"usd":2876651030.865749},{"symbol":"BTCB","btc":11189.761564706256,"usd":232463667.1483561},{"symbol":"WBTC.e","btc":8180.559431719999,"usd":169948468.85932055},{"symbol":"BTC.b","btc":47.61267575999999,"usd":989137.8959159971}],"venues":14,"markets":18,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-07-04","total_btc":159301.2539361742,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":139212.00982599577,"usd":2816497633.4439254},{"symbol":"BTCB","btc":12203.420741798438,"usd":246896123.99215257},{"symbol":"WBTC.e","btc":7817.56977919,"usd":158162839.61342406},{"symbol":"BTC.b","btc":68.25358919,"usd":1380887.1279709926}],"venues":14,"markets":18,"cadence":"weekly","observers":["archive_read","vat_read"],"era":"archive"},{"date":"2022-07-11","total_btc":123635.76932132876,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":104869.58826278578,"usd":2093675929.0747705},{"symbol":"BTCB","btc":12102.896470702988,"usd":249780303.53615654},{"symbol":"WBTC.e","btc":6553.02357356,"usd":130828278.6830658},{"symbol":"BTC.b","btc":110.26101428,"usd":2201313.4154291865}],"venues":14,"markets":18,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-07-18","total_btc":114120.53374283055,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":95095.12139323479,"usd":2116073937.8162482},{"symbol":"BTCB","btc":12334.898444035758,"usd":262833496.2333272},{"symbol":"WBTC.e","btc":6515.31835246,"usd":144980049.03117272},{"symbol":"BTC.b","btc":175.1955531,"usd":3898483.3133888473}],"venues":14,"markets":18,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-07-25","total_btc":112922.83890215395,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":94382.5845096409,"usd":2036066338.9463782},{"symbol":"BTCB","btc":11883.480563253052,"usd":259622376.35047406},{"symbol":"WBTC.e","btc":6481.29566848,"usd":139817615.84419343},{"symbol":"BTC.b","btc":175.47816078,"usd":3785498.9693345693}],"venues":14,"markets":18,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-08-01","total_btc":112779.96023170234,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":93243.82687508997,"usd":2174311901.8046494},{"symbol":"BTCB","btc":12615.16124845237,"usd":294670369.0858603},{"symbol":"WBTC.e","btc":6339.79663355,"usd":147834937.03894073},{"symbol":"BTC.b","btc":581.1754746099999,"usd":13552175.986666564}],"venues":14,"markets":18,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-08-08","total_btc":114313.01702132684,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":95077.09955646998,"usd":2259327762.334013},{"symbol":"BTCB","btc":12740.658233746879,"usd":296820095.90228504},{"symbol":"WBTC.e","btc":5925.93751825,"usd":140937474.52138424},{"symbol":"BTC.b","btc":569.32171286,"usd":13540265.005084386}],"venues":14,"markets":18,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-08-15","total_btc":123297.93868284245,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":104933.14059290502,"usd":2524523606.234117},{"symbol":"BTCB","btc":12304.580407367439,"usd":308117386.47177124},{"symbol":"WBTC.e","btc":5389.60827864,"usd":130376423.326286},{"symbol":"BTC.b","btc":670.6094039299999,"usd":16769700.928327236}],"venues":14,"markets":18,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-08-22","total_btc":122006.41965064411,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":104188.13816908501,"usd":2214081156.627417},{"symbol":"BTCB","btc":12193.507795649104,"usd":261919595.82749167},{"symbol":"WBTC.e","btc":5118.39496408,"usd":108946408.85638227},{"symbol":"BTC.b","btc":506.37872182999996,"usd":10872943.659984885}],"venues":14,"markets":18,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-08-29","total_btc":122649.5378701926,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":104665.20526958501,"usd":2113970746.2229774},{"symbol":"BTCB","btc":12262.797842947577,"usd":243112468.0154101},{"symbol":"WBTC.e","btc":5182.85816318,"usd":104362076.13602108},{"symbol":"BTC.b","btc":538.67659448,"usd":10672395.35898638}],"venues":15,"markets":19,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-09-05","total_btc":126390.70957288727,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":107019.71984476502,"usd":2123516377.0938761},{"symbol":"BTCB","btc":13366.377852082256,"usd":265488343.44919863},{"symbol":"WBTC.e","btc":5361.29073253,"usd":106382641.75250071},{"symbol":"BTC.b","btc":643.3211435099998,"usd":12769126.98045555}],"venues":15,"markets":19,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-09-12","total_btc":124635.2629955217,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":105400.7575505488,"usd":2350264543.7566867},{"symbol":"BTCB","btc":13441.694599612887,"usd":291896506.38493276},{"symbol":"WBTC.e","btc":5154.6949353,"usd":114575011.91863446},{"symbol":"BTC.b","btc":638.1159100599999,"usd":13862306.148592353}],"venues":15,"markets":19,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-09-19","total_btc":101785.7276411196,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":82832.39979384434,"usd":1618069381.1926386},{"symbol":"BTCB","btc":13315.886218515263,"usd":250143003.9049065},{"symbol":"WBTC.e","btc":4916.7111511,"usd":95637376.09085977},{"symbol":"BTC.b","btc":720.73047766,"usd":13545717.301796827}],"venues":15,"markets":19,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-09-26","total_btc":102743.79365725306,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":83230.7086280176,"usd":1597301291.8785698},{"symbol":"BTCB","btc":14024.357926505452,"usd":265485418.4007075},{"symbol":"WBTC.e","btc":4689.29857006,"usd":89788333.57360785},{"symbol":"BTC.b","btc":799.42853267,"usd":15122709.609665124}],"venues":15,"markets":19,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-10-03","total_btc":121834.0829764908,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":103071.6198378776,"usd":2020185044.5746875},{"symbol":"BTCB","btc":13287.061822843203,"usd":254729318.22994632},{"symbol":"BTC.b","btc":3020.92307008,"usd":57953449.04798438},{"symbol":"WBTC.e","btc":2454.47824569,"usd":47664005.39435448}],"venues":15,"markets":19,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-10-10","total_btc":122535.72033363614,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":104366.1786869576,"usd":1997930050.1928644},{"symbol":"BTCB","btc":12497.832375208533,"usd":243130581.4174793},{"symbol":"BTC.b","btc":3322.19445951,"usd":64682774.34188036},{"symbol":"WBTC.e","btc":2349.51481196,"usd":45290973.56965516}],"venues":15,"markets":19,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-10-17","total_btc":122571.01360071929,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":104671.32794625073,"usd":2045306617.0391495},{"symbol":"BTCB","btc":12804.594274138553,"usd":245589813.35100815},{"symbol":"BTC.b","btc":3416.89153213,"usd":65536153.334265254},{"symbol":"WBTC.e","btc":1678.1998482,"usd":32685470.499994293}],"venues":15,"markets":19,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-10-24","total_btc":122442.31254620705,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":104381.85420794072,"usd":2018873207.7758605},{"symbol":"BTCB","btc":12385.185211566319,"usd":239852239.918306},{"symbol":"BTC.b","btc":3976.81272426,"usd":77075664.72738281},{"symbol":"WBTC.e","btc":1698.46040244,"usd":32862725.420103155}],"venues":15,"markets":19,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-10-31","total_btc":122342.49418390289,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":103882.50877397072,"usd":2125027755.3888373},{"symbol":"BTCB","btc":12554.965712902167,"usd":257746791.9540536},{"symbol":"BTC.b","btc":4272.56076479,"usd":87758200.94903475},{"symbol":"WBTC.e","btc":1632.45893224,"usd":33419878.447236028}],"venues":15,"markets":19,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-11-07","total_btc":128967.7456036147,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":105512.69151580252,"usd":2168036024.842312},{"symbol":"BTCB","btc":17073.797014862175,"usd":356073183.05509996},{"symbol":"BTC.b","btc":4840.968560849999,"usd":100991145.22191326},{"symbol":"WBTC.e","btc":1540.2885121,"usd":31743378.51915565}],"venues":16,"markets":20,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-11-14","total_btc":118996.29254083625,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":100868.89723281261,"usd":1672899714.2901359},{"symbol":"BTCB","btc":13450.86986225365,"usd":214380501.89939317},{"symbol":"BTC.b","btc":3283.71982304,"usd":52313879.41288901},{"symbol":"WBTC.e","btc":1392.80562273,"usd":22936951.07612903}],"venues":16,"markets":20,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-11-21","total_btc":116385.49620526028,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":99944.29361331672,"usd":1574718391.8483732},{"symbol":"BTCB","btc":12651.531379313563,"usd":204722020.16750035},{"symbol":"BTC.b","btc":2499.71209757,"usd":40478011.757838115},{"symbol":"WBTC.e","btc":1289.95911506,"usd":20433178.017971676}],"venues":16,"markets":20,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-11-28","total_btc":117367.26818239427,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":95879.77966046607,"usd":1548812239.7494383},{"symbol":"BTCB","btc":17603.27782770821,"usd":285067481.14190674},{"symbol":"BTC.b","btc":2743.67443289,"usd":44389158.624919035},{"symbol":"WBTC.e","btc":1140.53626133,"usd":18416868.429170538}],"venues":16,"markets":20,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-12-05","total_btc":104794.27519050187,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":86973.10506132606,"usd":1475112660.3167477},{"symbol":"BTCB","btc":13232.59002342582,"usd":227709902.52687767},{"symbol":"BTC.b","btc":3521.34267643,"usd":60598944.579104304},{"symbol":"WBTC.e","btc":1067.23742932,"usd":18136219.825294252}],"venues":16,"markets":20,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-12-12","total_btc":100896.11003036205,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":83324.99646172607,"usd":1427571311.3613253},{"symbol":"BTCB","btc":12990.881625455984,"usd":219927048.70457593},{"symbol":"BTC.b","btc":3543.02871525,"usd":59992087.1855532},{"symbol":"WBTC.e","btc":1037.2032279300001,"usd":17726156.561654985}],"venues":16,"markets":20,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-12-19","total_btc":86937.1637292233,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":70491.76306239607,"usd":1158148375.653522},{"symbol":"BTCB","btc":11978.379424307239,"usd":200331440.54000023},{"symbol":"BTC.b","btc":3467.92069595,"usd":57977155.73934402},{"symbol":"WBTC.e","btc":999.10054657,"usd":16455973.145606618}],"venues":16,"markets":20,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2022-12-26","total_btc":85579.77242636669,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":69154.85047434607,"usd":1163935345.667722},{"symbol":"BTCB","btc":12056.716693890634,"usd":203497725.34466285},{"symbol":"BTC.b","btc":3370.26489346,"usd":56984613.25348917},{"symbol":"WBTC.e","btc":997.94036467,"usd":16797891.712675788}],"venues":16,"markets":20,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-01-02","total_btc":84701.44577567339,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":68257.49182378607,"usd":1138825263.3238208},{"symbol":"BTCB","btc":12190.275525557317,"usd":202782490.55565274},{"symbol":"BTC.b","btc":3264.476997,"usd":54318089.77986258},{"symbol":"WBTC.e","btc":989.20142933,"usd":16484175.60132885}],"venues":16,"markets":20,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-01-09","total_btc":85183.37298683701,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":68966.28955347608,"usd":1185674723.8649294},{"symbol":"BTCB","btc":11914.271394880938,"usd":205017450.21797293},{"symbol":"BTC.b","btc":3322.21105309,"usd":57158158.44317413},{"symbol":"WBTC.e","btc":980.60098539,"usd":16862013.179919157}],"venues":16,"markets":20,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-01-16","total_btc":85578.11938031726,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67817.93341215976,"usd":1434764153.337148},{"symbol":"BTCB","btc":12588.0850847375,"usd":265356833.58626655},{"symbol":"BTC.b","btc":4205.7262299799995,"usd":88749538.25645857},{"symbol":"WBTC.e","btc":966.37465344,"usd":20430291.477535985}],"venues":16,"markets":20,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-01-23","total_btc":85526.34426712315,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67146.98348646976,"usd":1535533314.0514214},{"symbol":"BTCB","btc":13025.218215023391,"usd":295516150.8624507},{"symbol":"BTC.b","btc":4399.34647883,"usd":99806724.15081623},{"symbol":"WBTC.e","btc":954.7960868,"usd":21793689.019391373}],"venues":15,"markets":19,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-01-30","total_btc":84261.77541634318,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65445.13180495977,"usd":1493892508.1830997},{"symbol":"BTCB","btc":13331.325656743422,"usd":316538996.3937158},{"symbol":"BTC.b","btc":4550.23944065,"usd":108042301.99584344},{"symbol":"WBTC.e","btc":935.07851399,"usd":21495378.821679514}],"venues":16,"markets":20,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-02-06","total_btc":84048.79181796123,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65749.71374549976,"usd":1493955767.215331},{"symbol":"BTCB","btc":12819.432967451477,"usd":293641931.5524435},{"symbol":"BTC.b","btc":4548.72607435,"usd":104177076.0567096},{"symbol":"WBTC.e","btc":930.91903066,"usd":21180335.31724431}],"venues":16,"markets":20,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-02-13","total_btc":84691.98817918506,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66196.03966485977,"usd":1439220590.7169232},{"symbol":"BTCB","btc":13044.3139058353,"usd":285156528.5699032},{"symbol":"BTC.b","btc":4526.74941864,"usd":98894038.58176644},{"symbol":"WBTC.e","btc":924.88518985,"usd":20128118.7113072}],"venues":17,"markets":21,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-02-20","total_btc":84152.29632535292,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65843.17529217976,"usd":1628794990.022649},{"symbol":"BTCB","btc":12464.143983993152,"usd":305119876.54079545},{"symbol":"BTC.b","btc":4903.84529375,"usd":120089701.00451232},{"symbol":"WBTC.e","btc":941.13175543,"usd":23240384.691420034}],"venues":17,"markets":21,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-02-27","total_btc":85211.81446618104,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67603.57565199977,"usd":1588026859.2522902},{"symbol":"BTCB","btc":11954.697076851271,"usd":280935142.2120634},{"symbol":"BTC.b","btc":4735.50574531,"usd":111327004.56649278},{"symbol":"WBTC.e","btc":918.03599202,"usd":21563149.884088736}],"venues":17,"markets":21,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-03-06","total_btc":88831.68711773778,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67933.44301272977,"usd":1522359377.331129},{"symbol":"BTCB","btc":12249.273888068017,"usd":274357757.5170286},{"symbol":"BTC.b","btc":7740.80924223,"usd":173297366.91042414},{"symbol":"WBTC.e","btc":908.16097471,"usd":20349747.78223279}],"venues":17,"markets":21,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-03-13","total_btc":79605.94361344147,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":61485.0214695585,"usd":1468775746.9737778},{"symbol":"BTCB","btc":10110.609750372969,"usd":226962765.46417737},{"symbol":"BTC.b","btc":7158.0949692799995,"usd":160621552.4137294},{"symbol":"WBTC.e","btc":852.21742423,"usd":20117472.446431614}],"venues":18,"markets":22,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-03-20","total_btc":84262.041840334,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":64179.19384575103,"usd":1779418219.2852526},{"symbol":"BTCB","btc":13639.83239624298,"usd":375488432.2537995},{"symbol":"BTC.b","btc":5618.07499492,"usd":154539852.99760982},{"symbol":"WBTC.e","btc":824.94060342,"usd":22849168.170699436}],"venues":18,"markets":22,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-03-27","total_btc":81696.81362437144,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":64910.948016821036,"usd":1770550687.860109},{"symbol":"BTCB","btc":10274.890945030405,"usd":286573798.1316501},{"symbol":"BTC.b","btc":5704.95414005,"usd":159179630.4156751},{"symbol":"WBTC.e","btc":806.02052247,"usd":22068606.79429378}],"venues":18,"markets":22,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-04-03","total_btc":81743.78289199402,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":64966.14525315103,"usd":1814050709.0695262},{"symbol":"BTCB","btc":10371.537519402984,"usd":287364190.0500984},{"symbol":"BTC.b","btc":5603.78524548,"usd":155167468.53888226},{"symbol":"WBTC.e","btc":802.31487396,"usd":22383476.241130322}],"venues":18,"markets":22,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-04-10","total_btc":82536.92865710026,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66423.92801630104,"usd":1955046986.1570094},{"symbol":"BTCB","btc":10178.674041669214,"usd":288240200.4456909},{"symbol":"BTC.b","btc":5165.88721969,"usd":146285370.37273335},{"symbol":"WBTC.e","btc":768.43937944,"usd":22505022.032241125}],"venues":18,"markets":22,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-04-17","total_btc":80034.87832555742,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65304.51609414773,"usd":1935571778.5870712},{"symbol":"BTCB","btc":10154.705075319705,"usd":305053941.02090293},{"symbol":"BTC.b","btc":3778.5660470099997,"usd":113461764.82534964},{"symbol":"WBTC.e","btc":797.09110908,"usd":23692429.434255578}],"venues":18,"markets":22,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-04-24","total_btc":85200.53728514735,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67216.07072593772,"usd":1847803131.336174},{"symbol":"BTCB","btc":13334.788120119627,"usd":369433669.5033486},{"symbol":"BTC.b","btc":3877.88796865,"usd":107492882.87371553},{"symbol":"WBTC.e","btc":771.79047044,"usd":21248960.50979779}],"venues":17,"markets":21,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-05-01","total_btc":91140.52387723919,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":70378.05634128772,"usd":1987084521.3679411},{"symbol":"BTCB","btc":16027.483184051467,"usd":457600672.38785344},{"symbol":"BTC.b","btc":4006.25666399,"usd":114349765.91218188},{"symbol":"WBTC.e","btc":728.72768791,"usd":20596018.138773113}],"venues":17,"markets":21,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-05-08","total_btc":85788.14985783424,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":69629.88322310772,"usd":1931873740.3405},{"symbol":"BTCB","btc":11541.001409796512,"usd":325597216.4353727},{"symbol":"BTC.b","btc":3888.78942221,"usd":109720719.85201572},{"symbol":"WBTC.e","btc":728.47580272,"usd":20252881.77482717}],"venues":17,"markets":21,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-05-15","total_btc":85826.9666165899,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":70054.01077790772,"usd":1912126459.5649},{"symbol":"BTCB","btc":11111.181251232178,"usd":302000795.29036546},{"symbol":"BTC.b","btc":3929.31144951,"usd":106828547.96469808},{"symbol":"WBTC.e","btc":732.46313794,"usd":19986128.04734859}],"venues":18,"markets":22,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-05-22","total_btc":85850.33214955444,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":70372.91530400772,"usd":1890180153.7749636},{"symbol":"BTCB","btc":10774.49192976672,"usd":287235787.5370792},{"symbol":"BTC.b","btc":3972.73414822,"usd":105843764.9044641},{"symbol":"WBTC.e","btc":730.19076756,"usd":19605729.743580718}],"venues":19,"markets":23,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-05-29","total_btc":86760.6909751305,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":71517.09993215927,"usd":1990670236.4758177},{"symbol":"BTCB","btc":10616.48481979123,"usd":298036578.3459992},{"symbol":"BTC.b","btc":3899.65377799,"usd":109575396.59429651},{"symbol":"WBTC.e","btc":727.4524451899999,"usd":20258908.32361016}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-06-05","total_btc":87393.54098892733,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":72306.11401252261,"usd":1883409256.668989},{"symbol":"BTCB","btc":10450.549603224721,"usd":280729665.3100567},{"symbol":"BTC.b","btc":3908.5013371699997,"usd":104997979.92173487},{"symbol":"WBTC.e","btc":728.37603601,"usd":19004435.608871557}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-06-12","total_btc":86769.44220841308,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":72592.11459307953,"usd":1877832863.1162844},{"symbol":"BTCB","btc":9624.36640181355,"usd":248470783.50205037},{"symbol":"BTC.b","btc":3871.72843544,"usd":99964543.64746891},{"symbol":"WBTC.e","btc":681.23277808,"usd":17624131.705976907}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-06-19","total_btc":90322.33675960178,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73672.3571888052,"usd":1965475458.5464787},{"symbol":"BTCB","btc":12016.652094306588,"usd":317325534.3521682},{"symbol":"BTC.b","btc":3952.37237172,"usd":104469106.52930304},{"symbol":"WBTC.e","btc":680.95510477,"usd":18151843.89320782}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-06-26","total_btc":89566.04808122448,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":72590.04523137388,"usd":2189014819.873094},{"symbol":"BTCB","btc":12303.694395640588,"usd":372165758.7994992},{"symbol":"BTC.b","btc":3986.91694602,"usd":120570958.88718058},{"symbol":"WBTC.e","btc":685.39150819,"usd":20669509.990697946}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-07-03","total_btc":86843.85614200747,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":71568.38596522027,"usd":2219459477.6064434},{"symbol":"BTCB","btc":10616.42088770721,"usd":326655187.4449651},{"symbol":"BTC.b","btc":3975.93750223,"usd":122412078.28428277},{"symbol":"WBTC.e","btc":683.11178685,"usd":21180652.72542328}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-07-10","total_btc":87540.5232501397,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":72400.68330707903,"usd":2195559525.5304265},{"symbol":"BTCB","btc":10426.396781450661,"usd":314789517.65567154},{"symbol":"BTC.b","btc":4033.90856773,"usd":121846749.65068233},{"symbol":"WBTC.e","btc":679.53459388,"usd":20605887.07620795}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-07-17","total_btc":90486.9819541719,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":74769.66730076508,"usd":2257892925.470759},{"symbol":"BTCB","btc":11925.215873006811,"usd":361265709.46515405},{"symbol":"BTC.b","btc":3224.75787036,"usd":97607229.20068611},{"symbol":"WBTC.e","btc":567.34091004,"usd":17125819.67652331}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-07-24","total_btc":87409.71056272929,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73482.35675471793,"usd":2155541944.051298},{"symbol":"BTCB","btc":10136.389229611383,"usd":301461369.02598727},{"symbol":"BTC.b","btc":3217.30622695,"usd":95748528.07450505},{"symbol":"WBTC.e","btc":573.65835145,"usd":16786121.087931708}],"venues":19,"markets":23,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-07-31","total_btc":83353.42114245801,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":69803.71482863567,"usd":2043676975.2538815},{"symbol":"BTCB","btc":9840.244148902344,"usd":289562418.22580737},{"symbol":"BTC.b","btc":3158.55870305,"usd":93009351.66021165},{"symbol":"WBTC.e","btc":550.90346187,"usd":16111644.741420824}],"venues":19,"markets":23,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-08-07","total_btc":89244.3961369182,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73113.74505884202,"usd":2131416607.6222336},{"symbol":"BTCB","btc":12447.47152594619,"usd":362372533.70935905},{"symbol":"BTC.b","btc":3130.28454901,"usd":91115727.89851877},{"symbol":"WBTC.e","btc":552.89500312,"usd":16116640.545476863}],"venues":19,"markets":23,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-08-14","total_btc":92622.81370667162,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":76166.16742195294,"usd":2239935205.901598},{"symbol":"BTCB","btc":12772.097100888675,"usd":374838315.578243},{"symbol":"BTC.b","btc":3130.25826841,"usd":91854298.62822305},{"symbol":"WBTC.e","btc":554.29091542,"usd":16315289.371392645}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-08-21","total_btc":87637.69543931351,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":72427.2879749316,"usd":1894094870.092211},{"symbol":"BTCB","btc":11496.485168121899,"usd":299793968.58680683},{"symbol":"BTC.b","btc":3062.97190802,"usd":79931713.09803796},{"symbol":"WBTC.e","btc":650.95038824,"usd":17033484.5019147}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-08-28","total_btc":87954.93323435796,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73355.08223194773,"usd":1912249420.4246402},{"symbol":"BTCB","btc":11038.330897880225,"usd":287224733.25808215},{"symbol":"BTC.b","btc":3016.28486214,"usd":78474653.09544776},{"symbol":"WBTC.e","btc":545.2352423899999,"usd":14220302.814454576}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-09-04","total_btc":86972.89669103603,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73858.35033498285,"usd":1911251161.7340717},{"symbol":"BTCB","btc":9607.758108643175,"usd":250111849.25646955},{"symbol":"BTC.b","btc":2972.14262385,"usd":77336696.5867414},{"symbol":"WBTC.e","btc":534.64562356,"usd":13826594.72715577}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-09-11","total_btc":87416.79198963208,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":74268.36211744169,"usd":1884412124.1884346},{"symbol":"BTCB","btc":9635.123444740402,"usd":248033321.49104312},{"symbol":"BTC.b","btc":2981.86013063,"usd":76778425.57352656},{"symbol":"WBTC.e","btc":531.44629682,"usd":13433305.231906638}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-09-18","total_btc":88352.57994650517,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":75230.80359560518,"usd":2012921745.4044986},{"symbol":"BTCB","btc":9659.592419879998,"usd":257358975.3080756},{"symbol":"BTC.b","btc":2984.0358904,"usd":79449090.21149178},{"symbol":"WBTC.e","btc":478.14804062,"usd":12809868.41751257}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-09-25","total_btc":87215.8475813553,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":74164.9921636988,"usd":1946755814.5126934},{"symbol":"BTCB","btc":9638.491492476482,"usd":252417553.16893604},{"symbol":"BTC.b","btc":2925.40371221,"usd":76615360.75758657},{"symbol":"WBTC.e","btc":486.96021297,"usd":12799465.695614664}],"venues":20,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-10-02","total_btc":86237.22012737938,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73998.28368542144,"usd":2051595329.546776},{"symbol":"BTCB","btc":8823.784734567951,"usd":246857175.34972855},{"symbol":"BTC.b","btc":2928.77333545,"usd":81909999.6554642},{"symbol":"WBTC.e","btc":486.37837194,"usd":13423168.22562745}],"venues":20,"markets":25,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-10-09","total_btc":87037.35870341584,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":74880.60947677935,"usd":2076561480.6681907},{"symbol":"BTCB","btc":8733.238229806491,"usd":243982624.80270854},{"symbol":"BTC.b","btc":2949.4894452,"usd":82384077.36712612},{"symbol":"WBTC.e","btc":474.02155163,"usd":13096504.887443164}],"venues":20,"markets":25,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-10-16","total_btc":88780.97599008692,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":76688.71536706088,"usd":2147175115.604144},{"symbol":"BTCB","btc":8705.11655651605,"usd":236747048.45714298},{"symbol":"BTC.b","btc":2909.5908547500003,"usd":79056599.15020294},{"symbol":"WBTC.e","btc":477.55321176,"usd":13539567.46742666}],"venues":19,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-10-23","total_btc":87666.56663660832,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":75832.81786700466,"usd":2421593389.937896},{"symbol":"BTCB","btc":8460.522039773656,"usd":256922364.88621452},{"symbol":"BTC.b","btc":2888.77021393,"usd":87691393.06325053},{"symbol":"WBTC.e","btc":484.4565159,"usd":15809971.135738287}],"venues":19,"markets":24,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-10-30","total_btc":90224.20482524764,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":77460.44348520358,"usd":2664222415.866329},{"symbol":"BTCB","btc":9866.481720737303,"usd":338575107.04053897},{"symbol":"BTC.b","btc":2395.09880858,"usd":82223690.69494078},{"symbol":"WBTC.e","btc":502.01776782,"usd":17297057.62456466},{"symbol":"tBTC","btc":0.16304290675860386,"usd":5558.243560577402}],"venues":20,"markets":25,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-11-06","total_btc":88265.67407676355,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":76004.7249387781,"usd":2661221035.537634},{"symbol":"BTCB","btc":9451.524751528686,"usd":329912436.05660254},{"symbol":"BTC.b","btc":2308.09735014,"usd":80601990.04150687},{"symbol":"WBTC.e","btc":501.16399341,"usd":17548828.410180543},{"symbol":"tBTC","btc":0.16304290675860386,"usd":5708.438686283427}],"venues":21,"markets":26,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-11-13","total_btc":85468.90998103084,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73127.79431229037,"usd":2682559903.0719223},{"symbol":"BTCB","btc":9541.820114283713,"usd":352330076.0686865},{"symbol":"BTC.b","btc":2298.01428645,"usd":84824852.9575193},{"symbol":"WBTC.e","btc":501.1182251,"usd":18309851.251842853},{"symbol":"tBTC","btc":0.16304290675860386,"usd":6043.043491678772}],"venues":21,"markets":26,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-11-20","total_btc":84678.56058317624,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":72252.18772812582,"usd":2693485048.7329655},{"symbol":"BTCB","btc":9615.560312773672,"usd":357295581.9162232},{"symbol":"BTC.b","btc":2303.31410978,"usd":85566890.95102647},{"symbol":"WBTC.e","btc":507.33538959,"usd":18959018.591503385},{"symbol":"tBTC","btc":0.16304290675860386,"usd":6091.260170494495}],"venues":21,"markets":26,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-11-27","total_btc":79776.833698397,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":68662.92098984323,"usd":2551055279.2608967},{"symbol":"BTCB","btc":8349.056636956995,"usd":311271707.15910214},{"symbol":"BTC.b","btc":2252.7564151499996,"usd":83969377.78368601},{"symbol":"WBTC.e","btc":511.93661354,"usd":18986639.590973325},{"symbol":"tBTC","btc":0.16304290675860386,"usd":6163.17513580758}],"venues":22,"markets":27,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-12-04","total_btc":80345.53629492116,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":69126.57473034898,"usd":2858358064.120143},{"symbol":"BTCB","btc":8415.97679742542,"usd":342611381.3035657},{"symbol":"BTC.b","btc":2291.19043898,"usd":93357677.32880843},{"symbol":"WBTC.e","btc":511.63128526,"usd":21330829.986168344},{"symbol":"tBTC","btc":0.16304290675860386,"usd":6517.193460110671}],"venues":22,"markets":27,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-12-11","total_btc":79632.6677592177,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":68443.68605382883,"usd":2847254358.4599447},{"symbol":"BTCB","btc":8438.203161782123,"usd":355487323.02456903},{"symbol":"BTC.b","btc":2201.46212169,"usd":92750064.82437599},{"symbol":"WBTC.e","btc":549.15337901,"usd":22686432.229041938},{"symbol":"tBTC","btc":0.16304290675860386,"usd":7139.568995934952}],"venues":22,"markets":27,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-12-18","total_btc":83781.85298589377,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":69119.12060630151,"usd":2890974502.0252256},{"symbol":"BTCB","btc":11810.217168941163,"usd":485306861.1321905},{"symbol":"BTC.b","btc":2193.24135833,"usd":90062329.15959273},{"symbol":"WBTC.e","btc":522.10111129,"usd":22097970.6687791},{"symbol":"tBTC","btc":137.17274103109534,"usd":5611430.6329447245}],"venues":23,"markets":29,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2023-12-25","total_btc":86962.91007345189,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":71303.93963276084,"usd":3093832170.319655},{"symbol":"BTCB","btc":12830.865445975727,"usd":553850991.7990856},{"symbol":"BTC.b","btc":2200.95032871,"usd":95002958.89219552},{"symbol":"WBTC.e","btc":516.93070046,"usd":22513937.607857555},{"symbol":"tBTC","btc":110.22396554533593,"usd":4736651.525810456}],"venues":23,"markets":29,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-01-01","total_btc":89668.3176364213,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73666.19714394647,"usd":3175124575.913994},{"symbol":"BTCB","btc":13158.38901524615,"usd":556202208.8288714},{"symbol":"BTC.b","btc":2232.88491475,"usd":94453331.7653872},{"symbol":"WBTC.e","btc":515.63786795,"usd":22537492.043455977},{"symbol":"tBTC","btc":95.2086945286735,"usd":4026047.0028754612}],"venues":23,"markets":29,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-01-08","total_btc":90283.5575595671,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":75072.47783006977,"usd":3387703298.029146},{"symbol":"BTCB","btc":12409.813302384911,"usd":539487234.4734707},{"symbol":"BTC.b","btc":2181.68427907,"usd":94861814.13824268},{"symbol":"WBTC.e","btc":524.36500848,"usd":24369773.84370466},{"symbol":"tBTC","btc":95.21713956241865,"usd":4118096.441459883}],"venues":23,"markets":29,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-01-15","total_btc":87779.9992319109,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":75513.9571954591,"usd":3214106395.2203445},{"symbol":"BTCB","btc":9473.568827497613,"usd":402772031.63584197},{"symbol":"BTC.b","btc":2218.40689374,"usd":94372138.46314646},{"symbol":"WBTC.e","btc":487.69246964,"usd":20765727.22871099},{"symbol":"tBTC","btc":86.37384557419496,"usd":3675671.838950986}],"venues":22,"markets":28,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-01-22","total_btc":91789.20752863609,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":76135.54248995794,"usd":3077197969.853174},{"symbol":"BTCB","btc":12724.154688323866,"usd":521723718.86847997},{"symbol":"BTC.b","btc":2327.18151984,"usd":95441274.71636374},{"symbol":"WBTC.e","btc":460.83278573,"usd":18337916.1568684},{"symbol":"tBTC","btc":141.49604478429444,"usd":5850811.6015352905}],"venues":23,"markets":29,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-01-29","total_btc":89115.76264861105,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":75694.53879492509,"usd":3229165898.934497},{"symbol":"BTCB","btc":10429.736662753336,"usd":440577982.16392845},{"symbol":"BTC.b","btc":2402.99418027,"usd":101551526.62908597},{"symbol":"WBTC.e","btc":434.75126751,"usd":18699249.857689645},{"symbol":"tBTC","btc":153.7417431526253,"usd":6459876.399129528}],"venues":25,"markets":31,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-02-05","total_btc":91354.94043572448,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":78706.36724897583,"usd":3348872787.6500816},{"symbol":"BTCB","btc":10142.168977314279,"usd":433281664.46841985},{"symbol":"BTC.b","btc":1928.58562638,"usd":82466827.18523169},{"symbol":"WBTC.e","btc":420.31841859,"usd":17865460.588525433},{"symbol":"tBTC","btc":157.50016446437257,"usd":6696376.184405065}],"venues":26,"markets":32,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-02-12","total_btc":94399.18791409492,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":78888.28147872293,"usd":3862367205.9762783},{"symbol":"BTCB","btc":12981.051334921036,"usd":625000680.668743},{"symbol":"BTC.b","btc":1950.90210778,"usd":93833215.77579191},{"symbol":"WBTC.e","btc":412.38025344,"usd":20526041.5614461},{"symbol":"tBTC","btc":166.5727392309492,"usd":7974279.215468768}],"venues":26,"markets":32,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-02-19","total_btc":91655.19581691436,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":78882.84052373725,"usd":4105064404.5058627},{"symbol":"BTCB","btc":10242.762162161636,"usd":533743677.0395899},{"symbol":"BTC.b","btc":1963.14261826,"usd":102260098.98516339},{"symbol":"WBTC.e","btc":403.24432311,"usd":20978870.514206946},{"symbol":"tBTC","btc":163.20618964547566,"usd":8480694.900539987}],"venues":26,"markets":32,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-02-26","total_btc":93628.6790172368,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":78239.31803155577,"usd":4135121828.5922937},{"symbol":"BTCB","btc":12908.544813917773,"usd":665130549.9084996},{"symbol":"BTC.b","btc":1927.96066325,"usd":99326222.19008403},{"symbol":"WBTC.e","btc":398.54462418,"usd":21604753.153386414},{"symbol":"tBTC","btc":154.31088433326462,"usd":8019648.974337222}],"venues":26,"markets":32,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-03-04","total_btc":90634.06130187665,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":77971.03720707144,"usd":5092021407.388161},{"symbol":"BTCB","btc":10200.827673332582,"usd":649836732.1165314},{"symbol":"BTC.b","btc":1937.86574775,"usd":123218656.78187162},{"symbol":"WBTC.e","btc":355.75776902999996,"usd":23948966.11948274},{"symbol":"tBTC","btc":168.57290469264018,"usd":10623269.927617194}],"venues":26,"markets":32,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-03-11","total_btc":95432.70186586928,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":78366.8562721909,"usd":5493046039.73169},{"symbol":"BTCB","btc":14597.459951161716,"usd":1003207506.6574312},{"symbol":"BTC.b","btc":1968.38982179,"usd":135124527.3289415},{"symbol":"WBTC.e","btc":343.96632233,"usd":24714945.819345023},{"symbol":"tBTC","btc":156.02949839668065,"usd":10710226.74030971}],"venues":27,"markets":33,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-03-18","total_btc":91625.47602780165,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":77841.48998964552,"usd":5273141348.9880905},{"symbol":"BTCB","btc":11324.57650994281,"usd":768433820.5018847},{"symbol":"BTC.b","btc":2027.5754950399999,"usd":137704817.32113662},{"symbol":"WBTC.e","btc":324.98479051,"usd":21958637.281484988},{"symbol":"tBTC","btc":106.84924266331647,"usd":7224796.060809724}],"venues":27,"markets":33,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-03-25","total_btc":89870.3763757909,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":77793.9304123057,"usd":5316511763.279156},{"symbol":"BTCB","btc":9569.798922890031,"usd":642661357.2848687},{"symbol":"BTC.b","btc":2097.76021765,"usd":140825739.8475105},{"symbol":"WBTC.e","btc":308.65872828,"usd":21522805.028891146},{"symbol":"tBTC","btc":100.22809466518817,"usd":6696885.047780297}],"venues":27,"markets":33,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-04-01","total_btc":96767.61625936157,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":78626.71861943709,"usd":5547198329.512296},{"symbol":"BTCB","btc":15734.263875486939,"usd":1113444093.8137536},{"symbol":"BTC.b","btc":1984.84558868,"usd":140506960.14076254},{"symbol":"WBTC.e","btc":296.55906677,"usd":20759773.469253916},{"symbol":"tBTC","btc":125.22910898754891,"usd":8885469.82756001}],"venues":27,"markets":33,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-04-08","total_btc":97709.89312263826,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":79104.38364591263,"usd":5549800344.880002},{"symbol":"BTCB","btc":16241.567771948075,"usd":1125398076.4626133},{"symbol":"BTC.b","btc":1950.12023673,"usd":134992818.22527772},{"symbol":"WBTC.e","btc":292.08915926,"usd":20922535.3395839},{"symbol":"tBTC","btc":121.7323087875489,"usd":8467640.457968596}],"venues":26,"markets":32,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-04-15","total_btc":96755.10760914229,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":78508.07918228168,"usd":5070562524.394697},{"symbol":"BTCB","btc":15858.149923839044,"usd":1035140902.609934},{"symbol":"BTC.b","btc":1954.10841425,"usd":127644687.00782296},{"symbol":"WBTC.e","btc":288.28847256,"usd":18330855.026387032},{"symbol":"tBTC","btc":146.4816162115667,"usd":9474908.204871573}],"venues":26,"markets":32,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-04-22","total_btc":89572.03575929393,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":76192.28795619431,"usd":5011748787.317074},{"symbol":"BTCB","btc":10967.94752579735,"usd":714819669.1309628},{"symbol":"BTC.b","btc":1969.02540503,"usd":128150948.57940018},{"symbol":"WBTC.e","btc":287.53223936,"usd":19215846.530910272},{"symbol":"tBTC","btc":155.2426329122575,"usd":10068158.06024917}],"venues":27,"markets":33,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-04-29","total_btc":94188.9552838308,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":76016.31512962536,"usd":4802407988.678305},{"symbol":"BTCB","btc":15728.727404103793,"usd":986020441.1990876},{"symbol":"BTC.b","btc":1988.48385086,"usd":124500823.44096592},{"symbol":"WBTC.e","btc":286.3251135,"usd":18264944.635075986},{"symbol":"tBTC","btc":169.10378574165566,"usd":10624807.816483503}],"venues":30,"markets":36,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-05-06","total_btc":94270.78439077418,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":77260.11236047032,"usd":4920141817.770021},{"symbol":"BTCB","btc":14552.194325241884,"usd":928901530.2715275},{"symbol":"BTC.b","btc":2013.02911019,"usd":128554937.73865208},{"symbol":"WBTC.e","btc":272.64181982,"usd":17262988.861285858},{"symbol":"tBTC","btc":172.80677505198975,"usd":11043644.1652822}],"venues":30,"markets":36,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-05-13","total_btc":93516.10430706275,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":75778.97913244419,"usd":4666867489.863305},{"symbol":"BTCB","btc":15261.100475590356,"usd":930534690.8951277},{"symbol":"BTC.b","btc":2034.60041415,"usd":123978376.23623025},{"symbol":"WBTC.e","btc":268.09909996,"usd":16792872.523591775},{"symbol":"tBTC","btc":173.32518491819667,"usd":10571464.701927971}],"venues":30,"markets":36,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-05-20","total_btc":92869.44890257827,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":77668.73445208806,"usd":5286657146.439789},{"symbol":"BTCB","btc":12701.596657650163,"usd":847528774.5850831},{"symbol":"BTC.b","btc":2044.42317292,"usd":136159646.96904776},{"symbol":"WBTC.e","btc":268.00247108,"usd":18934125.90379726},{"symbol":"tBTC","btc":186.6921488400405,"usd":12381531.74025807}],"venues":30,"markets":37,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-05-27","total_btc":92049.1523349716,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":78021.27635424938,"usd":5404114683.160129},{"symbol":"BTCB","btc":11531.004761067443,"usd":796187659.7013245},{"symbol":"BTC.b","btc":2044.23797642,"usd":141166897.69965953},{"symbol":"WBTC.e","btc":261.38444416,"usd":18160383.795804873},{"symbol":"tBTC","btc":191.24879907478902,"usd":13183540.92205813}],"venues":30,"markets":37,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-06-03","total_btc":93121.36737152208,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":77479.99793516398,"usd":5312877036.334527},{"symbol":"BTCB","btc":13137.934208060078,"usd":897212027.4679399},{"symbol":"BTC.b","btc":2052.8502493,"usd":140113211.60004613},{"symbol":"WBTC.e","btc":258.25955735,"usd":17776364.140519366},{"symbol":"tBTC","btc":192.32542164803175,"usd":13039549.409086913}],"venues":30,"markets":38,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-06-10","total_btc":98047.6736725526,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":78684.75939971846,"usd":5480101635.276924},{"symbol":"BTCB","btc":16879.67283856904,"usd":1177322457.346799},{"symbol":"BTC.b","btc":2032.79693952,"usd":141696139.98469415},{"symbol":"WBTC.e","btc":254.49369874,"usd":17686804.08376953},{"symbol":"tBTC","btc":195.9507960050918,"usd":13595879.70094757}],"venues":30,"markets":38,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-06-17","total_btc":95030.64834110645,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":79217.1728202657,"usd":5259487620.94195},{"symbol":"BTCB","btc":13371.093608228868,"usd":886462242.9321451},{"symbol":"BTC.b","btc":1995.42448852,"usd":132301172.42961708},{"symbol":"WBTC.e","btc":254.0604177,"usd":16877233.890518088},{"symbol":"tBTC","btc":192.89700639187592,"usd":12799350.963047292}],"venues":30,"markets":39,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-06-24","total_btc":91277.67609572213,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":77771.33578815224,"usd":4825803633.4886055},{"symbol":"BTCB","btc":11040.165372296875,"usd":694576378.3873202},{"symbol":"BTC.b","btc":2017.87140342,"usd":127027809.68653975},{"symbol":"WBTC.e","btc":253.98940936,"usd":15413956.901701529},{"symbol":"tBTC","btc":194.3141224930164,"usd":12277574.113211717}],"venues":30,"markets":40,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-07-01","total_btc":91053.41411661335,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":77469.01877354628,"usd":4898427617.421019},{"symbol":"BTCB","btc":11050.626674037965,"usd":700251353.7921275},{"symbol":"BTC.b","btc":2068.6171363,"usd":131171844.5584247},{"symbol":"WBTC.e","btc":252.55168816,"usd":15901772.17033228},{"symbol":"tBTC","btc":212.59984456909478,"usd":13391596.652726483}],"venues":30,"markets":40,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-07-08","total_btc":92049.0412445551,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":78275.74488038073,"usd":4344377470.627993},{"symbol":"BTCB","btc":10658.49767263678,"usd":586011930.6157532},{"symbol":"BTC.b","btc":2655.58319654,"usd":146123465.38961348},{"symbol":"WBTC.e","btc":250.46380849,"usd":14156333.75231873},{"symbol":"tBTC","btc":208.75168650758147,"usd":11686871.443209695}],"venues":29,"markets":40,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-07-15","total_btc":92550.1006050615,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":78482.49554004801,"usd":4954647850.30899},{"symbol":"BTCB","btc":10862.279596551849,"usd":679301205.6222934},{"symbol":"BTC.b","btc":2751.4863777,"usd":172149161.02584013},{"symbol":"WBTC.e","btc":244.86262729,"usd":15770716.081197266},{"symbol":"tBTC","btc":208.97646347163757,"usd":12853527.101411095}],"venues":29,"markets":40,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-07-22","total_btc":92412.0546802247,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":78680.3300346171,"usd":5345894823.117531},{"symbol":"BTCB","btc":10467.993365413113,"usd":711622632.0021685},{"symbol":"BTC.b","btc":2815.98924056,"usd":191443505.06929243},{"symbol":"WBTC.e","btc":242.22140359,"usd":16355536.525791574},{"symbol":"tBTC","btc":205.52063604448816,"usd":13944901.55699917}],"venues":29,"markets":41,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-07-29","total_btc":92422.37566388387,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":78788.87813632221,"usd":5424028540.414114},{"symbol":"BTCB","btc":10249.101039038002,"usd":711717951.7939149},{"symbol":"BTC.b","btc":2920.98148547,"usd":202873848.0918334},{"symbol":"WBTC.e","btc":242.08767488,"usd":16294247.302838223},{"symbol":"tBTC","btc":221.32732817367813,"usd":15178769.015216414}],"venues":31,"markets":43,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-08-05","total_btc":91990.61871052311,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":77417.32044783143,"usd":4208055326.031241},{"symbol":"BTCB","btc":10329.741364772635,"usd":562099703.0680184},{"symbol":"BTC.b","btc":3792.82567767,"usd":206415586.43859044},{"symbol":"WBTC.e","btc":241.9598471,"usd":13142899.218642555},{"symbol":"tBTC","btc":208.77137314903766,"usd":11827509.516763475}],"venues":31,"markets":43,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-08-12","total_btc":92532.17423096078,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":77736.67819143683,"usd":4565311948.30888},{"symbol":"BTCB","btc":10240.218543164068,"usd":600394141.4784951},{"symbol":"BTC.b","btc":4064.41517903,"usd":238171207.49157187},{"symbol":"tBTC","btc":285.13136598989115,"usd":16748628.711705174},{"symbol":"WBTC.e","btc":205.73095134,"usd":12194810.732941633}],"venues":31,"markets":43,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-08-19","total_btc":91106.73785010383,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":74670.02103366378,"usd":4393124916.745131},{"symbol":"BTCB","btc":11735.561756013294,"usd":688044371.4754951},{"symbol":"BTC.b","btc":4158.85011879,"usd":243778236.11208254},{"symbol":"tBTC","btc":340.1303872867534,"usd":19997354.206865832},{"symbol":"WBTC.e","btc":202.17455435,"usd":11975394.34564251}],"venues":31,"markets":43,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-08-26","total_btc":92171.35696006099,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":74385.96847017438,"usd":4736000462.846741},{"symbol":"BTCB","btc":12994.775167345437,"usd":833250716.2623585},{"symbol":"BTC.b","btc":4172.81235686,"usd":267468926.4500123},{"symbol":"tBTC","btc":416.295181251176,"usd":26478667.021564018},{"symbol":"WBTC.e","btc":201.50574443,"usd":12703257.492584856},{"symbol":"LBTC","btc":0.00004,"usd":2.5158310258754355}],"venues":31,"markets":44,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-09-02","total_btc":88341.63643822982,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":72699.2823870119,"usd":4207946970.8400006},{"symbol":"BTCB","btc":10841.350712590693,"usd":625341333.8710501},{"symbol":"BTC.b","btc":4171.13358369,"usd":240560811.54400814},{"symbol":"tBTC","btc":431.34253288723045,"usd":25184209.06554262},{"symbol":"WBTC.e","btc":198.52518205,"usd":11698180.235185446},{"symbol":"LBTC","btc":0.00204,"usd":120.6513435826244}],"venues":31,"markets":44,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-09-09","total_btc":86485.5518276659,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":71293.80215126563,"usd":3960915322.5528445},{"symbol":"BTCB","btc":10316.054802535873,"usd":566146679.933299},{"symbol":"BTC.b","btc":4247.75860677,"usd":232974461.13091224},{"symbol":"tBTC","btc":428.3526089443934,"usd":23816313.04655452},{"symbol":"WBTC.e","btc":198.48469757,"usd":11274838.1766375},{"symbol":"LBTC","btc":1.09896058,"usd":62790.01915797586}],"venues":31,"markets":44,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-09-16","total_btc":92572.60910581547,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73416.3754179746,"usd":4280598272.694949},{"symbol":"BTCB","btc":14132.218954362621,"usd":824972437.9752192},{"symbol":"BTC.b","btc":4328.12988458,"usd":252787837.36389557},{"symbol":"tBTC","btc":440.04902245823195,"usd":25803644.911582917},{"symbol":"WBTC.e","btc":198.12285985,"usd":11516029.8385003},{"symbol":"cbBTC","btc":45.78963788,"usd":2671371.268975191},{"symbol":"LBTC","btc":11.92332871,"usd":692561.6250646826}],"venues":33,"markets":47,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-09-23","total_btc":93083.78192460301,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73250.76099813964,"usd":4684484576.71937},{"symbol":"BTCB","btc":14483.046540927855,"usd":934892635.6749707},{"symbol":"BTC.b","btc":4325.13012532,"usd":279212840.8623504},{"symbol":"tBTC","btc":424.1136499455214,"usd":26915335.846691247},{"symbol":"cbBTC","btc":385.59796673000005,"usd":24579980.074728765},{"symbol":"WBTC.e","btc":195.4653163,"usd":12373168.903768089},{"symbol":"LBTC","btc":19.66722724,"usd":1241251.0062922984},{"symbol":"uniBTC","btc":0.0001,"usd":6.3112659000949165}],"venues":34,"markets":49,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-09-30","total_btc":92469.73319937203,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":74404.40996429833,"usd":4756396992.7172575},{"symbol":"BTCB","btc":11084.42554955733,"usd":714091258.149459},{"symbol":"BTC.b","btc":4434.42865465,"usd":285717861.82010895},{"symbol":"cbBTC","btc":1591.67993281,"usd":102213912.82903594},{"symbol":"tBTC","btc":723.4164821863657,"usd":46611420.93572165},{"symbol":"WBTC.e","btc":194.4468497,"usd":12316450.953422876},{"symbol":"LBTC","btc":36.92366617,"usd":2332905.83179602},{"symbol":"uniBTC","btc":0.0021,"usd":132.68190174333498}],"venues":34,"markets":52,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-10-07","total_btc":93879.38568647712,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":74700.33711822149,"usd":4729257385.701089},{"symbol":"BTCB","btc":10689.338488279895,"usd":680012394.2640532},{"symbol":"BTC.b","btc":4694.594339079999,"usd":298659807.16502666},{"symbol":"cbBTC","btc":2820.3109885,"usd":179120042.2503431},{"symbol":"tBTC","btc":737.8771670657418,"usd":46748635.49813895},{"symbol":"WBTC.e","btc":194.26727524,"usd":12151277.661602374},{"symbol":"LBTC","btc":42.65821009,"usd":2661049.020424668},{"symbol":"uniBTC","btc":0.0021,"usd":130.99947070216615}],"venues":34,"markets":56,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-10-14","total_btc":94001.26682290711,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73914.61222373992,"usd":4703957337.379801},{"symbol":"BTCB","btc":10228.908889213577,"usd":644158769.4924413},{"symbol":"BTC.b","btc":4775.67256049,"usd":300900801.01879346},{"symbol":"cbBTC","btc":3879.53352497,"usd":245522041.62721285},{"symbol":"tBTC","btc":923.3548869336122,"usd":58324612.275509164},{"symbol":"WBTC.e","btc":192.23287104,"usd":12619250.703482518},{"symbol":"LBTC","btc":86.95186652,"usd":5748506.363691098}],"venues":34,"markets":56,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-10-21","total_btc":94902.27433277472,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":72696.81115627271,"usd":4973114683.914575},{"symbol":"BTCB","btc":10308.820998214029,"usd":708566309.9767958},{"symbol":"cbBTC","btc":5774.7865518300005,"usd":396241896.20790374},{"symbol":"BTC.b","btc":4764.93188276,"usd":327576153.9743477},{"symbol":"tBTC","btc":1049.8417072279851,"usd":72188690.31115349},{"symbol":"WBTC.e","btc":190.84488105,"usd":12912991.753551308},{"symbol":"LBTC","btc":116.23715542,"usd":7845789.692424613}],"venues":35,"markets":60,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-10-28","total_btc":97894.85992021959,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":72438.79294210573,"usd":4937080735.327287},{"symbol":"BTCB","btc":10320.729790918787,"usd":698322498.0919076},{"symbol":"cbBTC","btc":8706.50074335,"usd":590959856.4777135},{"symbol":"BTC.b","btc":4759.92248673,"usd":321994476.45982426},{"symbol":"tBTC","btc":1196.9688837469432,"usd":81200202.30586044},{"symbol":"LBTC","btc":239.01353199,"usd":16705576.131265448},{"symbol":"WBTC.e","btc":190.70313785,"usd":13265446.820091112},{"symbol":"SolvBTC","btc":42.228403528139935,"usd":2861169.1804968584}],"venues":35,"markets":61,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-11-04","total_btc":99601.33267791348,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73063.99892826281,"usd":5019199666.774443},{"symbol":"BTCB","btc":10066.947328182834,"usd":695672377.8519408},{"symbol":"cbBTC","btc":9905.08836899,"usd":682894644.6603402},{"symbol":"BTC.b","btc":4713.92667009,"usd":325674936.13208395},{"symbol":"tBTC","btc":1289.5487275268174,"usd":88819747.00149868},{"symbol":"LBTC","btc":273.67203201,"usd":18530299.6184156},{"symbol":"WBTC.e","btc":188.20397384,"usd":12777887.954514325},{"symbol":"SolvBTC","btc":99.94664901098804,"usd":6898251.349484013}],"venues":36,"markets":63,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-11-11","total_btc":101606.0290882883,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":73361.5854266102,"usd":6103495022.8287945},{"symbol":"cbBTC","btc":11255.80048557,"usd":925627347.1551435},{"symbol":"BTCB","btc":10532.418868952034,"usd":857973348.3593724},{"symbol":"BTC.b","btc":4525.97271917,"usd":369102579.7910238},{"symbol":"tBTC","btc":1404.1236495016046,"usd":115270314.13321684},{"symbol":"LBTC","btc":241.36748478,"usd":21365538.230446164},{"symbol":"WBTC.e","btc":185.2738283,"usd":16206540.357573524},{"symbol":"SolvBTC","btc":99.48662540445142,"usd":8142300.588809049}],"venues":36,"markets":64,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-11-18","total_btc":104935.1203257908,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":72240.53066955716,"usd":6528340156.682852},{"symbol":"BTCB","btc":14617.305692974385,"usd":1323831339.5634322},{"symbol":"cbBTC","btc":11363.14348647,"usd":1027831034.8292366},{"symbol":"BTC.b","btc":4553.6443397,"usd":412482362.6808855},{"symbol":"tBTC","btc":1628.2678523104241,"usd":147151224.81707144},{"symbol":"LBTC","btc":246.72059275,"usd":22341150.24924544},{"symbol":"WBTC.e","btc":182.12711128,"usd":16487170.94409622},{"symbol":"SolvBTC","btc":103.38058074881752,"usd":9320499.556532864}],"venues":36,"markets":64,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-11-25","total_btc":101059.42923916593,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":71536.11396132108,"usd":6923466194.926805},{"symbol":"cbBTC","btc":12867.18095887,"usd":1255884238.3303225},{"symbol":"BTCB","btc":9933.093650349387,"usd":971797049.4320657},{"symbol":"BTC.b","btc":4374.80022725,"usd":428311272.66072714},{"symbol":"tBTC","btc":1816.7395008705562,"usd":177238783.67977297},{"symbol":"LBTC","btc":250.38069001,"usd":23334285.12749704},{"symbol":"WBTC.e","btc":181.09668605,"usd":16998482.751367},{"symbol":"SolvBTC","btc":100.02356444489507,"usd":9756593.414010022}],"venues":36,"markets":65,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-12-02","total_btc":101013.59827131938,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":70662.99455255429,"usd":6796587899.130153},{"symbol":"cbBTC","btc":14111.36713523,"usd":1360633838.3364124},{"symbol":"BTCB","btc":9613.265969226264,"usd":926304956.6186086},{"symbol":"BTC.b","btc":4250.65824863,"usd":409610431.4709814},{"symbol":"tBTC","btc":1767.3088059496986,"usd":170583805.33519295},{"symbol":"LBTC","btc":346.00194177,"usd":32998574.046921235},{"symbol":"WBTC.e","btc":180.93445883,"usd":17277527.39000398},{"symbol":"SolvBTC","btc":81.06715912912505,"usd":7788661.932545095}],"venues":36,"markets":65,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-12-09","total_btc":99618.4771865977,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":69194.78682755509,"usd":6819320908.5433655},{"symbol":"cbBTC","btc":14430.13177332,"usd":1427722342.8966668},{"symbol":"BTCB","btc":9137.835458781668,"usd":904423758.8695209},{"symbol":"BTC.b","btc":4392.89617066,"usd":435312672.32367575},{"symbol":"tBTC","btc":1736.5918810761234,"usd":172082295.36429575},{"symbol":"LBTC","btc":479.49393696,"usd":46491418.66906772},{"symbol":"WBTC.e","btc":175.22085701,"usd":17040737.435133334},{"symbol":"SolvBTC","btc":71.5202812348175,"usd":7076623.195336723}],"venues":36,"markets":65,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-12-16","total_btc":101083.88909762868,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":68672.46987527782,"usd":7181697088.826544},{"symbol":"cbBTC","btc":14754.59209307,"usd":1546427349.7259295},{"symbol":"BTCB","btc":10336.738974507789,"usd":1081859140.2588916},{"symbol":"BTC.b","btc":4436.12354228,"usd":463965994.0963849},{"symbol":"tBTC","btc":1750.4688856094651,"usd":183389969.33144748},{"symbol":"LBTC","btc":886.19334949,"usd":93619750.78584327},{"symbol":"WBTC.e","btc":171.97938858,"usd":18130971.10850935},{"symbol":"SolvBTC","btc":75.3229888136274,"usd":7862648.129005169}],"venues":36,"markets":66,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-12-23","total_btc":95681.77748322545,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67588.95514528778,"usd":6462944183.178414},{"symbol":"cbBTC","btc":11255.63968359,"usd":1077405730.8675003},{"symbol":"BTCB","btc":9478.467690113053,"usd":910326097.3836007},{"symbol":"BTC.b","btc":4344.12315359,"usd":417298305.79218256},{"symbol":"tBTC","btc":1791.6708258309204,"usd":171846106.14709428},{"symbol":"LBTC","btc":925.71565677,"usd":87730743.07750131},{"symbol":"WBTC.e","btc":171.72036848,"usd":16303466.627922133},{"symbol":"SolvBTC","btc":125.48495956369626,"usd":12036481.656492546}],"venues":35,"markets":65,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2024-12-30","total_btc":97474.58765412966,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67803.28131780915,"usd":6323781517.67315},{"symbol":"cbBTC","btc":11211.13414255,"usd":1046907304.4159379},{"symbol":"BTCB","btc":11172.663577090609,"usd":1044365176.2950099},{"symbol":"BTC.b","btc":4312.46763065,"usd":403323535.1565412},{"symbol":"tBTC","btc":1712.5350404261053,"usd":160135193.51891384},{"symbol":"LBTC","btc":955.08456778,"usd":88324805.33625166},{"symbol":"WBTC.e","btc":171.59525418,"usd":15894440.446522307},{"symbol":"SolvBTC","btc":135.82612364377604,"usd":12702940.253391003}],"venues":37,"markets":73,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-01-06","total_btc":95544.42250083806,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67183.86366790083,"usd":6690223039.095232},{"symbol":"cbBTC","btc":11220.65181069,"usd":1115019902.2096424},{"symbol":"BTCB","btc":9823.941080437742,"usd":975380825.752736},{"symbol":"BTC.b","btc":4315.67134238,"usd":428608896.12446165},{"symbol":"tBTC","btc":1774.1813497324404,"usd":175728714.77819586},{"symbol":"LBTC","btc":852.22012873,"usd":86676083.1296542},{"symbol":"SolvBTC","btc":202.84972845704525,"usd":20050622.564455662},{"symbol":"WBTC.e","btc":171.04334864,"usd":17325888.487464204},{"symbol":"eBTC","btc":0.00004387,"usd":4.461851625781804}],"venues":37,"markets":74,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-01-13","total_btc":95140.78380092127,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66461.5630406659,"usd":6276824996.422704},{"symbol":"BTCB","btc":11048.888000857614,"usd":1045353636.100632},{"symbol":"cbBTC","btc":10645.51048501,"usd":1005454910.0003252},{"symbol":"BTC.b","btc":4152.67290061,"usd":392998727.74020195},{"symbol":"tBTC","btc":1603.3810775190766,"usd":151467623.33241624},{"symbol":"LBTC","btc":758.73513891,"usd":71515616.42648217},{"symbol":"SolvBTC","btc":307.8582100986878,"usd":29038757.647860736},{"symbol":"WBTC.e","btc":162.17490338000002,"usd":15289419.175629446},{"symbol":"eBTC","btc":0.00004387,"usd":4.135026746140889}],"venues":38,"markets":76,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-01-20","total_btc":95245.2278376591,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66764.83451014869,"usd":6782484416.704092},{"symbol":"cbBTC","btc":11755.47355494,"usd":1198964419.273117},{"symbol":"BTCB","btc":9006.92188826889,"usd":916342498.3591089},{"symbol":"BTC.b","btc":4335.03671012,"usd":441402101.25153375},{"symbol":"tBTC","btc":1658.6426459994007,"usd":168439280.60854018},{"symbol":"LBTC","btc":1337.79297916,"usd":137267575.973959},{"symbol":"SolvBTC","btc":225.96275626212017,"usd":22903877.52395144},{"symbol":"WBTC.e","btc":160.56274869,"usd":16446868.82632212},{"symbol":"eBTC","btc":0.00004407,"usd":4.521911960526792}],"venues":39,"markets":77,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-01-27","total_btc":95357.59957539517,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66722.48319084044,"usd":6746458752.561831},{"symbol":"cbBTC","btc":11525.51570259,"usd":1168345068.725965},{"symbol":"BTCB","btc":9000.61202189853,"usd":908826140.4785913},{"symbol":"BTC.b","btc":4453.03228365,"usd":449479192.9799614},{"symbol":"LBTC","btc":1648.66081998,"usd":167439506.59282616},{"symbol":"tBTC","btc":1513.1383331976183,"usd":153259126.4591988},{"symbol":"SolvBTC","btc":303.8557465285851,"usd":30578097.484046575},{"symbol":"WBTC.e","btc":157.87161325,"usd":16042584.15631084},{"symbol":"eBTC","btc":32.42986346,"usd":3300885.8159476295}],"venues":39,"markets":78,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-02-03","total_btc":95373.34546944966,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65900.36724858441,"usd":6303451699.124458},{"symbol":"cbBTC","btc":11400.37944736,"usd":1089591115.995404},{"symbol":"BTCB","btc":8907.33205244216,"usd":836295928.0425535},{"symbol":"BTC.b","btc":4446.36572768,"usd":417567270.48787796},{"symbol":"LBTC","btc":2360.52680603,"usd":233998123.93175316},{"symbol":"tBTC","btc":1794.7655832344108,"usd":169696423.51753363},{"symbol":"SolvBTC","btc":373.45241776867744,"usd":35072995.98781238},{"symbol":"WBTC.e","btc":157.72625266,"usd":15843895.865849258},{"symbol":"eBTC","btc":32.42993369,"usd":3298088.0686105755}],"venues":40,"markets":82,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-02-10","total_btc":95576.86872661416,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65154.86819238159,"usd":6319675048.854758},{"symbol":"cbBTC","btc":11955.06456623,"usd":1158824169.652066},{"symbol":"BTCB","btc":9383.255699455722,"usd":909810940.550607},{"symbol":"BTC.b","btc":4505.01493416,"usd":436588246.5211196},{"symbol":"LBTC","btc":2293.97636383,"usd":222740010.54945445},{"symbol":"tBTC","btc":1758.8890705564393,"usd":169923722.68678936},{"symbol":"SolvBTC","btc":336.9442728504024,"usd":32583581.13534969},{"symbol":"WBTC.e","btc":157.72569346,"usd":15318017.788276115},{"symbol":"eBTC","btc":31.12993369,"usd":3025080.674648142}],"venues":40,"markets":83,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-02-17","total_btc":97432.0623358014,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65182.85962460172,"usd":6261835119.560374},{"symbol":"cbBTC","btc":13844.80393211,"usd":1331499415.5197651},{"symbol":"BTCB","btc":9717.945408784575,"usd":934288781.0541174},{"symbol":"BTC.b","btc":4165.15357627,"usd":400185237.10170823},{"symbol":"LBTC","btc":2310.12152977,"usd":222041971.3002599},{"symbol":"tBTC","btc":1739.857563858893,"usd":167759665.78482535},{"symbol":"SolvBTC","btc":279.8093867162134,"usd":26878835.92314955},{"symbol":"WBTC.e","btc":156.90847146,"usd":15037930.28630277},{"symbol":"eBTC","btc":34.60284223,"usd":3315089.30568846}],"venues":40,"markets":83,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-02-24","total_btc":100200.21783440596,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65533.43567478318,"usd":6213584527.84838},{"symbol":"cbBTC","btc":16137.15708977,"usd":1530374713.4117203},{"symbol":"BTCB","btc":9748.225227367406,"usd":930064911.6932392},{"symbol":"BTC.b","btc":4076.0901515200003,"usd":388859734.9106109},{"symbol":"LBTC","btc":2293.5081278,"usd":216822650.41239306},{"symbol":"tBTC","btc":1775.1695749991466,"usd":169139288.33835036},{"symbol":"SolvBTC","btc":293.4432870662303,"usd":27955644.711276073},{"symbol":"eBTC","btc":189.72304284,"usd":17479754.212642934},{"symbol":"WBTC.e","btc":153.46565826,"usd":14221937.06197379}],"venues":41,"markets":85,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-03-03","total_btc":99581.01084655621,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":63986.89154552875,"usd":5848550852.533225},{"symbol":"cbBTC","btc":17008.88345715,"usd":1556113142.5733852},{"symbol":"BTCB","btc":9014.906028761146,"usd":836803088.4178948},{"symbol":"BTC.b","btc":4310.54517697,"usd":399938546.67901605},{"symbol":"LBTC","btc":2755.47353988,"usd":250734392.40568197},{"symbol":"tBTC","btc":1760.910839432693,"usd":162770313.57237712},{"symbol":"SolvBTC","btc":401.57226439360403,"usd":37210014.67827548},{"symbol":"eBTC","btc":191.22304284,"usd":16484453.627777774},{"symbol":"WBTC.e","btc":150.6049516,"usd":13145556.348871585}],"venues":41,"markets":85,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-03-10","total_btc":101612.66145201004,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":64680.58711284247,"usd":5289995850.780211},{"symbol":"cbBTC","btc":17706.40326555,"usd":1446197921.5839524},{"symbol":"BTCB","btc":9234.815641051044,"usd":761055274.481269},{"symbol":"BTC.b","btc":4298.47086578,"usd":354173603.5430548},{"symbol":"LBTC","btc":2952.09874497,"usd":240884281.13415018},{"symbol":"tBTC","btc":1775.1622326450365,"usd":145347739.09120232},{"symbol":"SolvBTC","btc":630.879288061487,"usd":51823562.57736559},{"symbol":"eBTC","btc":184.72404284,"usd":14591221.796551934},{"symbol":"WBTC.e","btc":149.52025827,"usd":11894745.903837832}],"venues":42,"markets":87,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-03-17","total_btc":102684.91580313974,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65046.31061021975,"usd":5429630104.513517},{"symbol":"cbBTC","btc":19044.19148402,"usd":1592380769.8155806},{"symbol":"BTCB","btc":9049.480519849072,"usd":757345569.3250773},{"symbol":"BTC.b","btc":4250.25734594,"usd":355661214.3065194},{"symbol":"LBTC","btc":3149.64227601,"usd":263261332.31579578},{"symbol":"tBTC","btc":1355.091630637201,"usd":113042020.20455027},{"symbol":"SolvBTC","btc":549.9623129937117,"usd":45896063.49061482},{"symbol":"WBTC.e","btc":149.50600052,"usd":12532155.134043055},{"symbol":"eBTC","btc":90.47362295,"usd":7587936.315557591}],"venues":41,"markets":87,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-03-24","total_btc":103178.79525756542,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":63672.69608539628,"usd":5525991257.213833},{"symbol":"cbBTC","btc":19935.75992344,"usd":1731976727.994922},{"symbol":"BTCB","btc":9147.900401507246,"usd":793175999.8256292},{"symbol":"BTC.b","btc":4274.08516802,"usd":370756124.05065346},{"symbol":"LBTC","btc":3465.91801625,"usd":301427112.6348363},{"symbol":"tBTC","btc":1691.1312770179914,"usd":146443147.71350852},{"symbol":"SolvBTC","btc":751.3418034739223,"usd":64926398.49193784},{"symbol":"WBTC.e","btc":149.48895951,"usd":13035746.869115459},{"symbol":"eBTC","btc":90.47362295,"usd":7900282.401344863}],"venues":41,"markets":88,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-03-31","total_btc":107128.47254542347,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66350.12481383684,"usd":5418259402.381255},{"symbol":"cbBTC","btc":19765.81577179,"usd":1617298652.9664974},{"symbol":"BTCB","btc":9821.447058772175,"usd":802652953.183647},{"symbol":"BTC.b","btc":4339.31916942,"usd":354663382.3180243},{"symbol":"LBTC","btc":3986.28031998,"usd":326449477.3600144},{"symbol":"tBTC","btc":1598.502966699445,"usd":130731519.63943306},{"symbol":"SolvBTC","btc":819.5448172050295,"usd":66865021.612522766},{"symbol":"eBTC","btc":297.98348196,"usd":24575216.236340355},{"symbol":"WBTC.e","btc":149.45414576,"usd":12304473.626483385}],"venues":41,"markets":90,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-04-07","total_btc":106586.88995206363,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":64804.58799858068,"usd":5075271131.705825},{"symbol":"cbBTC","btc":21400.5345129,"usd":1680340817.5182676},{"symbol":"BTCB","btc":8630.487854785013,"usd":674470842.3246452},{"symbol":"BTC.b","btc":4356.09664455,"usd":340478821.3133912},{"symbol":"LBTC","btc":3610.84262663,"usd":283111624.7405378},{"symbol":"tBTC","btc":1733.1195136810582,"usd":135513243.64247677},{"symbol":"SolvBTC","btc":900.8353412268951,"usd":70188059.87387688},{"symbol":"EBTC","btc":750,"usd":58689720.00000001},{"symbol":"eBTC","btc":252.94765037,"usd":20099078.28331928},{"symbol":"WBTC.e","btc":147.43780934,"usd":11677146.18636297}],"venues":42,"markets":92,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-04-14","total_btc":112915.58447399977,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66487.73841532842,"usd":5636071644.156668},{"symbol":"cbBTC","btc":25193.03586848,"usd":2134982493.552582},{"symbol":"BTCB","btc":9373.194231843221,"usd":793927660.3314103},{"symbol":"BTC.b","btc":4437.98512394,"usd":375885534.9572883},{"symbol":"LBTC","btc":3649.16736458,"usd":308652986.91322345},{"symbol":"tBTC","btc":1951.8470167715334,"usd":165352785.68237168},{"symbol":"SolvBTC","btc":923.6839939765765,"usd":78121241.51962955},{"symbol":"EBTC","btc":750,"usd":63602572.49999999},{"symbol":"WBTC.e","btc":146.97653285,"usd":12427634.423098937},{"symbol":"eBTC","btc":1.95592623,"usd":165327.37453666225}],"venues":42,"markets":92,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-04-21","total_btc":114242.1296828293,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66108.09442461762,"usd":5765025094.408915},{"symbol":"cbBTC","btc":27258.35101913,"usd":2376225363.262303},{"symbol":"BTCB","btc":9099.802992919607,"usd":795736896.107522},{"symbol":"BTC.b","btc":4450.40221892,"usd":389451011.225905},{"symbol":"LBTC","btc":3766.93632269,"usd":329113160.1229343},{"symbol":"tBTC","btc":1990.036117564287,"usd":173258053.82169017},{"symbol":"EBTC","btc":1012.24339352,"usd":88293436.12147877},{"symbol":"SolvBTC","btc":409.2490505977767,"usd":35786815.68357965},{"symbol":"WBTC.e","btc":146.93113805,"usd":12814902.238606371},{"symbol":"eBTC","btc":0.08300482,"usd":7237.940171323453}],"venues":44,"markets":94,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-04-28","total_btc":117464.49251944944,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67362.50294145066,"usd":6309450845.272252},{"symbol":"cbBTC","btc":28119.35906533,"usd":2639168522.263771},{"symbol":"BTCB","btc":8791.714196609226,"usd":824537811.0046729},{"symbol":"LBTC","btc":5133.397189047924,"usd":481639127.9405043},{"symbol":"BTC.b","btc":4543.76300223,"usd":425873910.9734915},{"symbol":"tBTC","btc":1966.9530046437694,"usd":184442732.67326552},{"symbol":"EBTC","btc":1009.58202204,"usd":94390275.4972368},{"symbol":"SolvBTC","btc":389.61158399784705,"usd":36540961.51505753},{"symbol":"WBTC.e","btc":146.86504217,"usd":13920673.378361747},{"symbol":"eBTC","btc":0.74447193,"usd":70728.42143068807}],"venues":45,"markets":96,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-05-05","total_btc":121183.317784178,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67801.98447945676,"usd":6384085919.156616},{"symbol":"cbBTC","btc":31011.80423512,"usd":2924263192.0375147},{"symbol":"BTCB","btc":8779.934900382641,"usd":826569249.9447331},{"symbol":"LBTC","btc":5399.514001803647,"usd":508497887.6764259},{"symbol":"BTC.b","btc":4598.73306906,"usd":433218599.5872254},{"symbol":"tBTC","btc":2062.1235067845732,"usd":194381410.97322488},{"symbol":"EBTC","btc":1007.27910129,"usd":94767033.86338603},{"symbol":"SolvBTC","btc":374.7033341703835,"usd":35273979.31427216},{"symbol":"WBTC.e","btc":146.53064555,"usd":13885339.503771322},{"symbol":"eBTC","btc":0.71051056,"usd":67418.87037367893}],"venues":45,"markets":96,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-05-12","total_btc":124101.70466877079,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67550.44730069031,"usd":7017891856.834803},{"symbol":"cbBTC","btc":33748.83028998,"usd":3503430326.0706415},{"symbol":"BTCB","btc":9117.4993927702,"usd":948374237.2601596},{"symbol":"LBTC","btc":5154.862138421505,"usd":535907530.5295649},{"symbol":"BTC.b","btc":4611.97431498,"usd":479505309.21771723},{"symbol":"tBTC","btc":2154.46678595945,"usd":223983725.27078176},{"symbol":"EBTC","btc":1201.87359026,"usd":125076486.0180727},{"symbol":"SolvBTC","btc":419.61340539933065,"usd":43648034.583883755},{"symbol":"WBTC.e","btc":141.5157663,"usd":14583821.18965433},{"symbol":"eBTC","btc":0.62168401,"usd":63951.80490042574}],"venues":46,"markets":98,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-05-19","total_btc":120369.92845302392,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67705.10435253796,"usd":7061231693.574096},{"symbol":"cbBTC","btc":30331.91443532,"usd":3173381308.8856616},{"symbol":"BTCB","btc":8550.54173318424,"usd":891317263.825566},{"symbol":"LBTC","btc":5059.561256195821,"usd":527630451.7294074},{"symbol":"BTC.b","btc":4678.53132109,"usd":487925517.7967054},{"symbol":"tBTC","btc":2197.04670508347,"usd":229420182.6445125},{"symbol":"EBTC","btc":1257.26525303,"usd":130951430.52358449},{"symbol":"SolvBTC","btc":450.30876138242013,"usd":46940123.73173727},{"symbol":"WBTC.e","btc":139.16299587,"usd":14654867.122697942},{"symbol":"eBTC","btc":0.49163933,"usd":51891.43042881353}],"venues":46,"markets":100,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-05-26","total_btc":121188.76303045143,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66403.63943331981,"usd":7260562714.369119},{"symbol":"cbBTC","btc":31535.65431384,"usd":3449964568.436843},{"symbol":"BTCB","btc":9062.71903817012,"usd":993145079.1356201},{"symbol":"LBTC","btc":5188.874238059026,"usd":567873258.552091},{"symbol":"BTC.b","btc":4781.62898281,"usd":523982742.1692244},{"symbol":"tBTC","btc":2214.206814865308,"usd":242019346.48939395},{"symbol":"EBTC","btc":1218.1204008,"usd":133358408.45991907},{"symbol":"SolvBTC","btc":645.6721457771578,"usd":70756889.84192383},{"symbol":"WBTC.e","btc":137.87102348,"usd":15071236.797036214},{"symbol":"eBTC","btc":0.37663933,"usd":41169.16403993958}],"venues":46,"markets":100,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-06-02","total_btc":121014.6191497915,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67070.45828845714,"usd":7045279887.257456},{"symbol":"cbBTC","btc":31528.03335701,"usd":3317622085.080677},{"symbol":"BTCB","btc":8262.659814566217,"usd":865549193.6964217},{"symbol":"LBTC","btc":5325.396576281923,"usd":559468296.0915933},{"symbol":"BTC.b","btc":4574.14069786,"usd":479238980.2649801},{"symbol":"tBTC","btc":2191.6781210901,"usd":230281657.05311573},{"symbol":"EBTC","btc":1214.76325324,"usd":127559883.99149099},{"symbol":"SolvBTC","btc":710.2639661761115,"usd":74403773.83708414},{"symbol":"WBTC.e","btc":137.06204453,"usd":14470138.824104624},{"symbol":"eBTC","btc":0.16303058,"usd":17243.53841706232}],"venues":46,"markets":101,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-06-09","total_btc":121400.8522151819,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66692.68476362174,"usd":7071045255.89898},{"symbol":"cbBTC","btc":32119.70985129,"usd":3440919374.900928},{"symbol":"BTCB","btc":8297.489053562298,"usd":874915997.2909076},{"symbol":"LBTC","btc":5055.149605061947,"usd":536129654.77761227},{"symbol":"BTC.b","btc":4595.65656463,"usd":484677794.542239},{"symbol":"tBTC","btc":2179.615300008428,"usd":230346923.0807779},{"symbol":"EBTC","btc":1198.70388634,"usd":126495226.28066841},{"symbol":"SolvBTC","btc":948.8384169574798,"usd":100056058.9262431},{"symbol":"FBTC","btc":176.001,"usd":18572798.982574724},{"symbol":"WBTC.e","btc":136.88120107,"usd":14964995.576105654},{"symbol":"eBTC","btc":0.12257264,"usd":13495.129154478178}],"venues":45,"markets":101,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-06-16","total_btc":120091.77319672535,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66072.62184155414,"usd":7006736342.805276},{"symbol":"cbBTC","btc":31130.11218551,"usd":3313994739.5142555},{"symbol":"BTCB","btc":8366.01775064872,"usd":885887933.8239126},{"symbol":"LBTC","btc":5108.317737239199,"usd":541419899.936219},{"symbol":"BTC.b","btc":4412.35751316,"usd":467299547.1462361},{"symbol":"tBTC","btc":2124.514931393492,"usd":224801126.49382925},{"symbol":"SolvBTC","btc":1236.6293888097748,"usd":130946302.9316902},{"symbol":"EBTC","btc":1202.79592518,"usd":127318899.88472962},{"symbol":"FBTC","btc":266.001,"usd":28156858.515437458},{"symbol":"WBTC.e","btc":135.01547916,"usd":14473002.110931262},{"symbol":"CDCBTC","btc":37.31436266,"usd":3950741.4553799354},{"symbol":"eBTC","btc":0.07508141,"usd":8069.38645471428}],"venues":45,"markets":102,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-06-23","total_btc":119876.5121137862,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66119.03999595447,"usd":6730393450.169414},{"symbol":"cbBTC","btc":31652.70451149,"usd":3256559854.2861958},{"symbol":"BTCB","btc":8716.18691856138,"usd":883159535.8065565},{"symbol":"BTC.b","btc":4384.16126403,"usd":444233267.1943799},{"symbol":"LBTC","btc":4230.99968709296,"usd":430580897.14003676},{"symbol":"tBTC","btc":2255.7931974896355,"usd":228789888.74269617},{"symbol":"EBTC","btc":1190.0819709,"usd":120639225.02965224},{"symbol":"SolvBTC","btc":888.7582587577474,"usd":90052340.4475957},{"symbol":"FBTC","btc":266.001,"usd":26964658.974578306},{"symbol":"WBTC.e","btc":134.91411075,"usd":14114998.390922125},{"symbol":"CDCBTC","btc":37.796117349999996,"usd":3826572.0417450736},{"symbol":"eBTC","btc":0.07508141,"usd":7908.953413045863}],"venues":45,"markets":102,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-06-30","total_btc":117418.19599040011,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66392.17460612305,"usd":7193959578.650772},{"symbol":"cbBTC","btc":28270.59923926,"usd":3051070639.9145684},{"symbol":"BTCB","btc":8930.285346301795,"usd":969308434.1630425},{"symbol":"LBTC","btc":4542.2662803686935,"usd":492186928.2298704},{"symbol":"BTC.b","btc":4397.73599877,"usd":477111488.8073627},{"symbol":"tBTC","btc":2250.812398855835,"usd":243840494.7160016},{"symbol":"EBTC","btc":1204.00704706,"usd":130700744.1921889},{"symbol":"SolvBTC","btc":858.1573675307271,"usd":93145318.63552952},{"symbol":"FBTC","btc":399.91600001,"usd":43412801.397885546},{"symbol":"WBTC.e","btc":134.21826337000002,"usd":14412808.18828409},{"symbol":"CDCBTC","btc":37.94836134,"usd":4119837.279282575},{"symbol":"eBTC","btc":0.07508141,"usd":8046.2457676469685}],"venues":47,"markets":104,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-07-07","total_btc":122524.86259837517,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":66441.23974399864,"usd":7253967581.010082},{"symbol":"cbBTC","btc":33596.41586748,"usd":3657507825.6847367},{"symbol":"BTCB","btc":8885.15740063298,"usd":972684293.5031874},{"symbol":"BTC.b","btc":4453.89395159,"usd":487648047.01890093},{"symbol":"LBTC","btc":4281.4531829485695,"usd":467468943.6594127},{"symbol":"tBTC","btc":2245.8567857429002,"usd":245172337.51110289},{"symbol":"EBTC","btc":1205.74439727,"usd":131873325.78448951},{"symbol":"SolvBTC","btc":842.9260955820904,"usd":92277094.0599082},{"symbol":"FBTC","btc":399.91610001,"usd":43739175.78426171},{"symbol":"WBTC.e","btc":133.89002197,"usd":14506404.017723756},{"symbol":"CDCBTC","btc":38.1295902,"usd":4172674.4143374576},{"symbol":"eBTC","btc":0.23946095,"usd":25899.638573022905}],"venues":48,"markets":105,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-07-14","total_btc":125245.8384038498,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67229.97308458092,"usd":8034079681.929212},{"symbol":"cbBTC","btc":35742.10400983,"usd":4277719067.217013},{"symbol":"BTCB","btc":8470.52072961501,"usd":1015575152.8381152},{"symbol":"BTC.b","btc":4445.17689097,"usd":532705947.90195113},{"symbol":"LBTC","btc":4045.3369634163964,"usd":484129283.1616097},{"symbol":"tBTC","btc":2229.087051880983,"usd":265962469.56512687},{"symbol":"EBTC","btc":1170.21432997,"usd":140035026.904829},{"symbol":"SolvBTC","btc":1161.5665179264931,"usd":139264291.6749813},{"symbol":"FBTC","btc":579.92452087,"usd":69397326.45803648},{"symbol":"WBTC.e","btc":132.8154413,"usd":15900328.036412496},{"symbol":"CDCBTC","btc":38.639810329999996,"usd":4626896.912386705},{"symbol":"eBTC","btc":0.47905316,"usd":57365.359100580274}],"venues":48,"markets":106,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-07-21","total_btc":128408.05126949391,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67189.52247399275,"usd":7931790551.415684},{"symbol":"cbBTC","btc":38317.87336148,"usd":4517508836.073043},{"symbol":"BTCB","btc":8626.61052708068,"usd":1021685307.6165115},{"symbol":"BTC.b","btc":4501.67715683,"usd":533419122.0486631},{"symbol":"LBTC","btc":4008.9739434674716,"usd":473683724.52777153},{"symbol":"tBTC","btc":2434.991940452298,"usd":287637685.946256},{"symbol":"SolvBTC","btc":1424.1557244107294,"usd":168670609.47595182},{"symbol":"EBTC","btc":1102.79668285,"usd":130362411.94924381},{"symbol":"FBTC","btc":629.92456313,"usd":74463848.75177403},{"symbol":"WBTC.e","btc":132.80318753,"usd":15611405.403680054},{"symbol":"CDCBTC","btc":38.24265509,"usd":4512938.564596684},{"symbol":"eBTC","btc":0.47905318,"usd":56239.84763707798}],"venues":49,"markets":109,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-07-28","total_btc":129171.48743800145,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67362.2511903199,"usd":8040866276.942542},{"symbol":"cbBTC","btc":38669.70403091,"usd":4599724682.174775},{"symbol":"BTCB","btc":8614.446098107093,"usd":1028073280.8793638},{"symbol":"BTC.b","btc":4457.50085987,"usd":532194193.03277993},{"symbol":"LBTC","btc":3944.159755083808,"usd":471570013.2590321},{"symbol":"tBTC","btc":2493.7852831755663,"usd":298179940.87293154},{"symbol":"SolvBTC","btc":1707.626304445077,"usd":203792690.97193584},{"symbol":"EBTC","btc":1117.86575274,"usd":133794423.13717844},{"symbol":"FBTC","btc":630.79235895,"usd":75497884.76674505},{"symbol":"WBTC.e","btc":132.46497148,"usd":15650511.297912369},{"symbol":"CDCBTC","btc":40.484804530000005,"usd":4836046.772603255},{"symbol":"eBTC","btc":0.40602839,"usd":47871.9023520183}],"venues":49,"markets":110,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-08-04","total_btc":131059.8745748955,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67541.81735140871,"usd":7745718455.070612},{"symbol":"cbBTC","btc":40180.76195186,"usd":4614152432.027657},{"symbol":"BTCB","btc":8671.29912049548,"usd":994850857.3992672},{"symbol":"BTC.b","btc":4397.16742859,"usd":504386572.16455567},{"symbol":"LBTC","btc":4023.559696792516,"usd":461304710.24844354},{"symbol":"tBTC","btc":2605.2752477820027,"usd":298600069.800007},{"symbol":"SolvBTC","btc":1719.5023897767944,"usd":197278056.08118322},{"symbol":"EBTC","btc":1116.72079449,"usd":128094564.17027172},{"symbol":"FBTC","btc":630.91447869,"usd":72369669.81833474},{"symbol":"WBTC.e","btc":132.46497155,"usd":15250307.666353358},{"symbol":"CDCBTC","btc":39.985115070000006,"usd":4589193.784524372},{"symbol":"eBTC","btc":0.40602839,"usd":46785.27921303533}],"venues":49,"markets":111,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-08-11","total_btc":130761.85797414652,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67853.07038046676,"usd":8229108133.929692},{"symbol":"cbBTC","btc":39563.77050971,"usd":4767926887.175577},{"symbol":"BTCB","btc":8806.832148001926,"usd":1072586502.2278425},{"symbol":"BTC.b","btc":4478.57059186,"usd":545601544.0811278},{"symbol":"LBTC","btc":4014.9245672721104,"usd":488166253.34039176},{"symbol":"tBTC","btc":2619.531965038635,"usd":318071096.79697293},{"symbol":"SolvBTC","btc":1581.8628348870652,"usd":192668071.20585358},{"symbol":"EBTC","btc":1137.67058703,"usd":138508037.84267077},{"symbol":"FBTC","btc":531.30918608,"usd":64685326.04314107},{"symbol":"WBTC.e","btc":132.45823026,"usd":15782596.09709481},{"symbol":"CDCBTC","btc":41.61532469,"usd":5074997.436537466},{"symbol":"eBTC","btc":0.24164885,"usd":28677.652721909704}],"venues":49,"markets":112,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-08-18","total_btc":127745.09548077881,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67125.95276180659,"usd":7764943990.5391445},{"symbol":"cbBTC","btc":37601.50903349,"usd":4361498022.579494},{"symbol":"BTCB","btc":8746.53951918572,"usd":1010174513.3731235},{"symbol":"BTC.b","btc":4388.98864865,"usd":506894218.14693445},{"symbol":"LBTC","btc":3473.062781787092,"usd":401882230.258513},{"symbol":"tBTC","btc":2613.4842038505617,"usd":302261710.15760785},{"symbol":"SolvBTC","btc":1681.7979907888327,"usd":194242047.4041583},{"symbol":"EBTC","btc":1282.95166711,"usd":148287222.92634174},{"symbol":"FBTC","btc":661.20493028,"usd":76423956.887863},{"symbol":"WBTC.e","btc":126.86824211999999,"usd":14746431.65204127},{"symbol":"CDCBTC","btc":42.494052860000004,"usd":4903034.662643193},{"symbol":"eBTC","btc":0.24164885,"usd":28130.53005293472}],"venues":49,"markets":112,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-08-25","total_btc":130529.95191197115,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67261.37643679816,"usd":7615048128.457599},{"symbol":"cbBTC","btc":40232.877479,"usd":4502997064.055447},{"symbol":"BTCB","btc":8851.582205520932,"usd":1003725945.6979676},{"symbol":"BTC.b","btc":4356.80621297,"usd":494009410.22356147},{"symbol":"LBTC","btc":3772.5506512520815,"usd":427234553.81971616},{"symbol":"tBTC","btc":2600.1804699483046,"usd":294257912.52048755},{"symbol":"SolvBTC","btc":1609.6445039616517,"usd":182527233.43337107},{"symbol":"EBTC","btc":1074.5344921,"usd":121983675.19885682},{"symbol":"FBTC","btc":601.21155542,"usd":68246896.4525501},{"symbol":"WBTC.e","btc":126.7971829,"usd":14048544.400522185},{"symbol":"CDCBTC","btc":42.38866546,"usd":4811384.151061162},{"symbol":"eBTC","btc":0.00205664,"usd":226.6966043076969}],"venues":49,"markets":112,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-09-01","total_btc":135124.3493428739,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":68834.07612755135,"usd":7431351967.430424},{"symbol":"cbBTC","btc":42418.64649482,"usd":4589885053.241779},{"symbol":"BTCB","btc":8952.494706061429,"usd":962151932.106181},{"symbol":"BTC.b","btc":4450.22407046,"usd":478795635.1497545},{"symbol":"LBTC","btc":4152.705872867079,"usd":447551358.8231803},{"symbol":"tBTC","btc":2606.0674568808313,"usd":280978379.0405664},{"symbol":"SolvBTC","btc":1559.2291132232745,"usd":167603668.77910763},{"symbol":"EBTC","btc":1044.59206181,"usd":112601093.19283049},{"symbol":"FBTC","btc":556.21256922,"usd":59939317.10629388},{"symbol":"UBTC","btc":378.72390935,"usd":40765317.06981955},{"symbol":"WBTC.e","btc":126.79718296,"usd":13766828.04753841},{"symbol":"CDCBTC","btc":44.57772103,"usd":4792479.545445071},{"symbol":"eBTC","btc":0.00205664,"usd":223.67680078571053}],"venues":49,"markets":114,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-09-08","total_btc":134785.5187554111,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":69195.38874783405,"usd":7707106964.92183},{"symbol":"cbBTC","btc":43012.74615429,"usd":4803906576.268964},{"symbol":"BTCB","btc":8775.549395633023,"usd":975543833.4651378},{"symbol":"BTC.b","btc":4083.43814045,"usd":454043210.3567756},{"symbol":"LBTC","btc":3654.6091933760995,"usd":406996070.72007835},{"symbol":"tBTC","btc":2652.749453751497,"usd":294757940.9559373},{"symbol":"SolvBTC","btc":1544.1054308364146,"usd":171698686.7128703},{"symbol":"EBTC","btc":796.64774998,"usd":88668619.32244204},{"symbol":"FBTC","btc":556.21258902,"usd":61878847.765080005},{"symbol":"UBTC","btc":342.07395243,"usd":38075578.87316164},{"symbol":"WBTC.e","btc":126.75867799999999,"usd":14195429.83715058},{"symbol":"CDCBTC","btc":45.237213170000004,"usd":5035303.758882078},{"symbol":"eBTC","btc":0.00205664,"usd":230.8286676351942}],"venues":49,"markets":114,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-09-15","total_btc":136341.98943478343,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":69097.36791131429,"usd":7977806484.31258},{"symbol":"cbBTC","btc":44026.21343765,"usd":5081994668.705736},{"symbol":"BTCB","btc":8699.079597517366,"usd":1005313111.9015791},{"symbol":"BTC.b","btc":4120.2203621,"usd":475942669.3915474},{"symbol":"LBTC","btc":3728.052328213119,"usd":430569719.3415024},{"symbol":"tBTC","btc":2611.2202925050915,"usd":301260546.01441324},{"symbol":"SolvBTC","btc":1864.5296319435743,"usd":215472171.7218992},{"symbol":"FBTC","btc":830.81365651,"usd":95910000.22378884},{"symbol":"EBTC","btc":754.15591372,"usd":87119316.70618431},{"symbol":"UBTC","btc":444.5052954,"usd":51322173.89220802},{"symbol":"WBTC.e","btc":126.17953306999999,"usd":14561829.053496234},{"symbol":"CDCBTC","btc":39.6494182,"usd":4579890.679227361},{"symbol":"eBTC","btc":0.00205664,"usd":237.35655478637722}],"venues":49,"markets":114,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-09-22","total_btc":137662.4167116732,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":69303.86147893517,"usd":7912871895.854262},{"symbol":"cbBTC","btc":45198.53672954,"usd":5137277544.054863},{"symbol":"BTCB","btc":9053.786810740121,"usd":1036535499.6844084},{"symbol":"BTC.b","btc":4175.2542214800005,"usd":477675337.80354697},{"symbol":"LBTC","btc":3361.7152965201467,"usd":384153909.9652271},{"symbol":"tBTC","btc":2640.1166973929608,"usd":301917334.0462647},{"symbol":"SolvBTC","btc":1804.3640525348308,"usd":206500218.97738573},{"symbol":"EBTC","btc":759.83787499,"usd":86990730.07551765},{"symbol":"FBTC","btc":752.17668717,"usd":86042296.07443158},{"symbol":"UBTC","btc":447.6867889,"usd":51212113.7308977},{"symbol":"WBTC.e","btc":125.7511478,"usd":14215291.130151298},{"symbol":"CDCBTC","btc":39.326869030000005,"usd":4493407.023549308},{"symbol":"eBTC","btc":0.00205664,"usd":231.911848007809}],"venues":50,"markets":115,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-09-29","total_btc":135724.90053567343,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":69107.08138713807,"usd":7748047644.400327},{"symbol":"cbBTC","btc":43065.91242273,"usd":4860947334.5686},{"symbol":"BTCB","btc":8731.298740562921,"usd":975519527.7295378},{"symbol":"LBTC","btc":4254.270564763554,"usd":477260749.65613353},{"symbol":"BTC.b","btc":4192.02321903,"usd":468527708.7368196},{"symbol":"tBTC","btc":2692.9640086304457,"usd":300438774.7124209},{"symbol":"SolvBTC","btc":1523.222244328428,"usd":170313340.93535987},{"symbol":"EBTC","btc":758.4457797,"usd":84924732.71461317},{"symbol":"FBTC","btc":751.47675545,"usd":84060233.95912877},{"symbol":"UBTC","btc":482.47696861,"usd":53884762.35906695},{"symbol":"WBTC.e","btc":125.63828572,"usd":14304328.089501766},{"symbol":"CDCBTC","btc":40.08810237,"usd":4480261.146372281},{"symbol":"eBTC","btc":0.00205664,"usd":235.07238670760208}],"venues":50,"markets":115,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-10-06","total_btc":145421.15845175274,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":69342.00524554036,"usd":8601657264.224205},{"symbol":"cbBTC","btc":50503.55805086,"usd":6281449054.922601},{"symbol":"BTCB","btc":9792.31274179003,"usd":1213739887.832078},{"symbol":"LBTC","btc":5094.921055012651,"usd":631977132.176104},{"symbol":"BTC.b","btc":4287.73074488,"usd":531501858.97381043},{"symbol":"tBTC","btc":2678.071659245615,"usd":331939453.1463393},{"symbol":"SolvBTC","btc":1521.556832284076,"usd":188649583.1812226},{"symbol":"EBTC","btc":757.98290163,"usd":94079823.47036742},{"symbol":"FBTC","btc":684.625606,"usd":84877845.40391757},{"symbol":"UBTC","btc":594.17340554,"usd":73620523.52104932},{"symbol":"WBTC.e","btc":123.02279315,"usd":15346008.91217983},{"symbol":"CDCBTC","btc":41.195359180000004,"usd":5106874.2292939285},{"symbol":"eBTC","btc":0.00205664,"usd":256.90438228268107}],"venues":50,"markets":115,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-10-13","total_btc":150935.0335710484,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":68493.76246248129,"usd":7899460371.250305},{"symbol":"cbBTC","btc":56089.8626372,"usd":6470568995.772001},{"symbol":"BTCB","btc":9914.979734104289,"usd":1143231305.7590292},{"symbol":"LBTC","btc":5426.704395745892,"usd":626271749.3024899},{"symbol":"BTC.b","btc":4196.03849173,"usd":484164905.22531235},{"symbol":"tBTC","btc":2788.6545165229077,"usd":320981817.1060689},{"symbol":"SolvBTC","btc":1165.7446939640122,"usd":134418792.11234492},{"symbol":"FBTC","btc":771.22182944,"usd":88968826.60497159},{"symbol":"UBTC","btc":764.37470833,"usd":88192658.42508209},{"symbol":"EBTC","btc":762.1347081,"usd":88035399.12565172},{"symbol":"VBWBTC","btc":374.43851506,"usd":43155236.964980885},{"symbol":"WBTC.e","btc":118.21127023,"usd":13639249.626234232},{"symbol":"CDCBTC","btc":40.12119679,"usd":4628035.526191178},{"symbol":"YVVBWBTC","btc":28.78235471,"usd":3317808.061079699},{"symbol":"eBTC","btc":0.00205664,"usd":237.33240306521947}],"venues":54,"markets":125,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-10-20","total_btc":148556.4854278609,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":68091.45250986834,"usd":7432533445.426558},{"symbol":"cbBTC","btc":54939.89527567,"usd":6024033327.575044},{"symbol":"BTCB","btc":10102.297506244113,"usd":1099064634.3651862},{"symbol":"LBTC","btc":5402.214391565293,"usd":588923642.9474548},{"symbol":"BTC.b","btc":3971.33366239,"usd":432395444.93980473},{"symbol":"tBTC","btc":2701.3613475217753,"usd":293732967.28528136},{"symbol":"EBTC","btc":807.48096605,"usd":88073517.1624131},{"symbol":"SolvBTC","btc":792.8726732813523,"usd":86362615.52714421},{"symbol":"UBTC","btc":717.52211453,"usd":78192048.05812585},{"symbol":"FBTC","btc":431.25156172,"usd":46970760.03584137},{"symbol":"VBWBTC","btc":427.16910813,"usd":46499223.09178525},{"symbol":"WBTC.e","btc":117.84725361,"usd":13008973.296639778},{"symbol":"CDCBTC","btc":38.32995879,"usd":4169696.2028006455},{"symbol":"YVVBWBTC","btc":15.45504185,"usd":1682633.3729387138},{"symbol":"eBTC","btc":0.00205664,"usd":227.74737174242404}],"venues":54,"markets":126,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-10-27","total_btc":149544.9070041687,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":68718.0497420575,"usd":7893423358.884708},{"symbol":"cbBTC","btc":54990.02832261,"usd":6301494814.523354},{"symbol":"BTCB","btc":10032.652886402642,"usd":1155769392.709264},{"symbol":"LBTC","btc":5380.3358575498305,"usd":618573073.2671404},{"symbol":"BTC.b","btc":4014.69411011,"usd":462155264.80652833},{"symbol":"tBTC","btc":2718.906177240738,"usd":311703820.64290625},{"symbol":"EBTC","btc":818.43962597,"usd":94255561.2258709},{"symbol":"SolvBTC","btc":805.954429778008,"usd":92773053.22263469},{"symbol":"UBTC","btc":741.79795744,"usd":85489997.94735515},{"symbol":"VBWBTC","btc":580.56633578,"usd":66953603.7877189},{"symbol":"FBTC","btc":571.30829001,"usd":65694711.70283539},{"symbol":"WBTC.e","btc":117.84697976999999,"usd":13468776.763408028},{"symbol":"CDCBTC","btc":38.360229929999996,"usd":4410965.4246834805},{"symbol":"YVVBWBTC","btc":15.96400288,"usd":1841549.9414739362},{"symbol":"eBTC","btc":0.00205664,"usd":234.73670171854658}],"venues":54,"markets":127,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-11-03","total_btc":146092.33252422925,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":68890.89068362172,"usd":7414113464.77445},{"symbol":"cbBTC","btc":51387.22362596,"usd":5507289757.674183},{"symbol":"BTCB","btc":9817.359406601709,"usd":1058580853.6931417},{"symbol":"LBTC","btc":5631.885726922256,"usd":606634485.95987},{"symbol":"BTC.b","btc":3921.8287812,"usd":422909039.26719916},{"symbol":"tBTC","btc":2767.8984171976767,"usd":298656542.8476843},{"symbol":"EBTC","btc":821.805758,"usd":88683356.30992608},{"symbol":"SolvBTC","btc":773.1847073159129,"usd":83281638.0628068},{"symbol":"UBTC","btc":637.44622839,"usd":68635262.36546232},{"symbol":"VBWBTC","btc":599.40924893,"usd":64544141.73439328},{"symbol":"FBTC","btc":571.30836732,"usd":61551026.536852464},{"symbol":"WBTC.e","btc":117.84607604,"usd":12581608.628527252},{"symbol":"enzoBTC","btc":100.01,"usd":10649867.609930139},{"symbol":"CDCBTC","btc":37.26122016,"usd":4016907.832904237},{"symbol":"YVVBWBTC","btc":16.97221993,"usd":1828171.0816812494},{"symbol":"eBTC","btc":0.00205664,"usd":219.0075364592213}],"venues":54,"markets":128,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-11-10","total_btc":148003.57598397162,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67753.49747853733,"usd":7176870429.477255},{"symbol":"cbBTC","btc":55885.46389046,"usd":5923218808.982199},{"symbol":"BTCB","btc":8614.520230847214,"usd":912493418.305267},{"symbol":"LBTC","btc":5675.490702514748,"usd":602480356.283476},{"symbol":"BTC.b","btc":3827.44523492,"usd":405679956.7832405},{"symbol":"tBTC","btc":2610.118647874809,"usd":276828812.48323566},{"symbol":"SolvBTC","btc":840.1349744275581,"usd":88990507.71972127},{"symbol":"EBTC","btc":761.60356752,"usd":80965780.58293426},{"symbol":"UBTC","btc":634.6962289,"usd":67228122.15466309},{"symbol":"VBWBTC","btc":600.42813231,"usd":63672028.758347034},{"symbol":"FBTC","btc":529.85517233,"usd":56236915.213934086},{"symbol":"WBTC.e","btc":117.84621,"usd":12481332.681770708},{"symbol":"enzoBTC","btc":100.01,"usd":10591769.60783688},{"symbol":"CDCBTC","btc":35.57375968,"usd":3771988.2929374906},{"symbol":"YVVBWBTC","btc":16.88969701,"usd":1791451.8708980773},{"symbol":"eBTC","btc":0.00205664,"usd":217.81278918369807}],"venues":54,"markets":129,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-11-17","total_btc":148082.3221726944,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":67739.98503937876,"usd":6408186257.033535},{"symbol":"cbBTC","btc":56084.2663979,"usd":5241313767.035461},{"symbol":"BTCB","btc":8339.332715400034,"usd":792361679.1235995},{"symbol":"LBTC","btc":5736.106023917306,"usd":544316005.9344441},{"symbol":"BTC.b","btc":3642.74582689,"usd":345754495.85844135},{"symbol":"tBTC","btc":2615.5829547831077,"usd":248447948.8541926},{"symbol":"SolvBTC","btc":1187.4280158052204,"usd":112620696.39846894},{"symbol":"EBTC","btc":761.98095318,"usd":72689599.64511538},{"symbol":"VBWBTC","btc":592.06018554,"usd":56191975.670605734},{"symbol":"UBTC","btc":583.6621212,"usd":55564342.01024882},{"symbol":"FBTC","btc":529.85510888,"usd":50456290.58284718},{"symbol":"WBTC.e","btc":117.03907747,"usd":10816458.018369272},{"symbol":"enzoBTC","btc":100.01,"usd":9185756.358053474},{"symbol":"CDCBTC","btc":35.37850704000001,"usd":3358212.758823813},{"symbol":"YVVBWBTC","btc":16.88717867,"usd":1603260.9052953648},{"symbol":"eBTC","btc":0.00205664,"usd":188.89904965730526},{"symbol":"BGBTC","btc":0.00001,"usd":0.9184837874266047}],"venues":53,"markets":129,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-11-24","total_btc":144190.94527153985,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":64939.67985234886,"usd":5633425583.478248},{"symbol":"cbBTC","btc":54645.12827611,"usd":4786560113.047943},{"symbol":"BTCB","btc":8876.314090499242,"usd":767803066.0746891},{"symbol":"LBTC","btc":5828.859277039949,"usd":506156627.49508476},{"symbol":"BTC.b","btc":3503.10035761,"usd":303334667.08294857},{"symbol":"tBTC","btc":2649.8862016123358,"usd":229990753.7867126},{"symbol":"SolvBTC","btc":1169.303319359475,"usd":101262937.51015699},{"symbol":"EBTC","btc":754.57718204,"usd":65458840.57766949},{"symbol":"UBTC","btc":653.48432557,"usd":56544092.599775486},{"symbol":"VBWBTC","btc":547.89109809,"usd":47496457.06130891},{"symbol":"FBTC","btc":453.85514074,"usd":39301753.83878237},{"symbol":"WBTC.e","btc":117.03158482,"usd":10316873.657455556},{"symbol":"CDCBTC","btc":34.73119031,"usd":3007150.0731154806},{"symbol":"YVVBWBTC","btc":17.10130875,"usd":1482855.1642020084},{"symbol":"eBTC","btc":0.00205664,"usd":181.9825782558296},{"symbol":"BGBTC","btc":0.00001,"usd":0.8848538307911428}],"venues":53,"markets":128,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-12-01","total_btc":142475.3508642905,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65270.89990255534,"usd":5608300160.049813},{"symbol":"cbBTC","btc":52525.69037828,"usd":4528895507.280973},{"symbol":"BTCB","btc":9096.181662103836,"usd":780664064.2452786},{"symbol":"LBTC","btc":5814.850768752636,"usd":500698477.9208747},{"symbol":"BTC.b","btc":3399.47389576,"usd":291993451.15011513},{"symbol":"tBTC","btc":2625.676822054099,"usd":225869148.7616881},{"symbol":"SolvBTC","btc":1251.2670198845883,"usd":107430922.90595688},{"symbol":"VBWBTC","btc":619.97049515,"usd":53314889.78669328},{"symbol":"EBTC","btc":604.46849611,"usd":52029026.38288041},{"symbol":"UBTC","btc":600.90507592,"usd":51613306.54417886},{"symbol":"FBTC","btc":497.00298511,"usd":42699219.732068025},{"symbol":"WBTC.e","btc":117.03235518,"usd":10101459.638656506},{"symbol":"CDCBTC","btc":34.8251243,"usd":3009196.951862852},{"symbol":"YVVBWBTC","btc":17.10381649,"usd":1471340.5380237168},{"symbol":"eBTC","btc":0.00205664,"usd":177.78780929733722},{"symbol":"BGBTC","btc":0.00001,"usd":0.8644576070548915}],"venues":53,"markets":128,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-12-08","total_btc":144123.74391168583,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65901.43758877482,"usd":5990398856.234165},{"symbol":"cbBTC","btc":54149.081921,"usd":4919475079.780461},{"symbol":"BTCB","btc":8300.080208461846,"usd":756634088.6692268},{"symbol":"LBTC","btc":5720.951530815414,"usd":521127090.050361},{"symbol":"BTC.b","btc":3407.30538792,"usd":310408697.4914599},{"symbol":"tBTC","btc":2621.579929035762,"usd":237905127.15338472},{"symbol":"SolvBTC","btc":1392.5230826580448,"usd":126908305.08491875},{"symbol":"EBTC","btc":746.70385172,"usd":68116508.64925776},{"symbol":"VBWBTC","btc":652.3245383,"usd":59433582.69966126},{"symbol":"UBTC","btc":544.2489936,"usd":49732610.292127095},{"symbol":"FBTC","btc":518.5337908,"usd":47209156.590855554},{"symbol":"WBTC.e","btc":117.03242966,"usd":10615187.899504414},{"symbol":"CDCBTC","btc":34.817866620000004,"usd":3173835.514356749},{"symbol":"YVVBWBTC","btc":17.12072568,"usd":1560612.5379896583},{"symbol":"eBTC","btc":0.00205664,"usd":186.4397819220472},{"symbol":"BGBTC","btc":0.00001,"usd":0.9065260907210168}],"venues":55,"markets":132,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-12-15","total_btc":143906.71805923348,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65422.24659146002,"usd":5812303757.704844},{"symbol":"cbBTC","btc":53417.29002867,"usd":4684546044.418053},{"symbol":"BTCB","btc":8300.143378316743,"usd":741615051.0536739},{"symbol":"LBTC","btc":6239.311321688262,"usd":556974186.9039134},{"symbol":"BTC.b","btc":3402.9510822,"usd":304175174.2838811},{"symbol":"tBTC","btc":2583.8607112383056,"usd":230381309.2574435},{"symbol":"SolvBTC","btc":1969.894898550168,"usd":175787707.1378395},{"symbol":"EBTC","btc":757.82143348,"usd":67834707.47556652},{"symbol":"VBWBTC","btc":597.23872905,"usd":53235873.494533315},{"symbol":"UBTC","btc":528.51715908,"usd":47283383.10588252},{"symbol":"FBTC","btc":518.53407071,"usd":46319738.52406547},{"symbol":"WBTC.e","btc":116.89765306,"usd":10146940.0066867},{"symbol":"CDCBTC","btc":34.838429440000006,"usd":3118169.7305803252},{"symbol":"YVVBWBTC","btc":17.17050565,"usd":1531297.6168237831},{"symbol":"eBTC","btc":0.00205664,"usd":177.3558614333752},{"symbol":"BGBTC","btc":0.00001,"usd":0.8623573470970866}],"venues":55,"markets":132,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-12-22","total_btc":144626.7317699078,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65040.71449226533,"usd":5760078611.619161},{"symbol":"cbBTC","btc":54584.05095558,"usd":4833786889.682711},{"symbol":"BTCB","btc":8390.948850501614,"usd":746567137.0601481},{"symbol":"LBTC","btc":6371.751932951177,"usd":565511712.3203952},{"symbol":"BTC.b","btc":3349.53035456,"usd":297941496.2514055},{"symbol":"tBTC","btc":2505.184556173166,"usd":221643599.22724754},{"symbol":"SolvBTC","btc":1906.830418736528,"usd":169621464.6627082},{"symbol":"EBTC","btc":757.70580028,"usd":67346149.62889355},{"symbol":"VBWBTC","btc":658.85123574,"usd":58390270.4917241},{"symbol":"UBTC","btc":448.52142277,"usd":39819796.49596971},{"symbol":"FBTC","btc":443.53459658,"usd":39340818.375518},{"symbol":"WBTC.e","btc":116.89821388,"usd":10337717.84031637},{"symbol":"CDCBTC","btc":34.86076734,"usd":3099962.610024126},{"symbol":"YVVBWBTC","btc":17.34577941,"usd":1538016.744210253},{"symbol":"eBTC","btc":0.00205664,"usd":181.82957631684116},{"symbol":"uniBTC","btc":0.0003265,"usd":28.866187892605723},{"symbol":"BGBTC","btc":0.00001,"usd":0.8841098895131921}],"venues":55,"markets":133,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2025-12-29","total_btc":141507.55096876895,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":64863.72926821114,"usd":5794902582.849625},{"symbol":"cbBTC","btc":52104.73127623,"usd":4601326323.167645},{"symbol":"BTCB","btc":8523.575296092873,"usd":766491798.3203753},{"symbol":"LBTC","btc":6022.193723754131,"usd":540592625.608254},{"symbol":"BTC.b","btc":3286.85807195,"usd":295522618.42421633},{"symbol":"tBTC","btc":2552.9567155605473,"usd":228836205.13243148},{"symbol":"SolvBTC","btc":1908.4326486203447,"usd":171421603.58597803},{"symbol":"VBWBTC","btc":685.01864757,"usd":61416105.80118707},{"symbol":"EBTC","btc":495.4789133,"usd":44589786.528777644},{"symbol":"UBTC","btc":449.31213407,"usd":40400455.09060932},{"symbol":"FBTC","btc":443.53635351,"usd":39829209.71611519},{"symbol":"WBTC.e","btc":116.89826388,"usd":10239315.735182574},{"symbol":"CDCBTC","btc":34.80986008,"usd":3131650.3410411607},{"symbol":"YVVBWBTC","btc":17.33792971,"usd":1555309.5740303493},{"symbol":"uniBTC","btc":2.67979959,"usd":233338.38571381857},{"symbol":"eBTC","btc":0.00205664,"usd":179.07796515278514},{"symbol":"BGBTC","btc":0.00001,"usd":0.8707307314492819}],"venues":56,"markets":134,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-01-05","total_btc":149272.237026811,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":64957.322610521565,"usd":6029781242.891124},{"symbol":"cbBTC","btc":59170.6080046,"usd":5524825103.715537},{"symbol":"BTCB","btc":8668.080974571327,"usd":803018921.6240746},{"symbol":"LBTC","btc":6055.296253787189,"usd":563153566.690789},{"symbol":"BTC.b","btc":3279.32946177,"usd":303816074.70180804},{"symbol":"tBTC","btc":2540.388294751627,"usd":234958387.9002282},{"symbol":"SolvBTC","btc":2410.5597731593552,"usd":223403534.6282745},{"symbol":"VBWBTC","btc":672.14539452,"usd":62383317.0533248},{"symbol":"EBTC","btc":472.79287477,"usd":43975168.85506544},{"symbol":"FBTC","btc":443.53767855,"usd":41165117.824005835},{"symbol":"UBTC","btc":429.97700414,"usd":39937337.37610933},{"symbol":"WBTC.e","btc":116.8993647,"usd":10952349.07882583},{"symbol":"CDCBTC","btc":34.305807030000004,"usd":3184806.823896942},{"symbol":"YVVBWBTC","btc":18.31166371,"usd":1700634.4091569611},{"symbol":"uniBTC","btc":2.67979959,"usd":251747.28385074134},{"symbol":"eBTC","btc":0.00205664,"usd":193.20606503219472},{"symbol":"BGBTC","btc":0.00001,"usd":0.9394257868766275}],"venues":56,"markets":134,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-01-12","total_btc":150617.25870366758,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":65097.03502841123,"usd":5960688720.941435},{"symbol":"cbBTC","btc":59770.77802345,"usd":5460703477.479748},{"symbol":"BTCB","btc":8884.843633178336,"usd":816748898.2162957},{"symbol":"LBTC","btc":6337.807683910309,"usd":582159593.858054},{"symbol":"BTC.b","btc":3248.4104769,"usd":298512609.1091907},{"symbol":"tBTC","btc":2590.2306877508527,"usd":237223705.24758258},{"symbol":"SolvBTC","btc":2410.548314516852,"usd":221528283.33134478},{"symbol":"VBWBTC","btc":675.76989746,"usd":61986198.23254321},{"symbol":"EBTC","btc":529.25897201,"usd":48683699.31484619},{"symbol":"UBTC","btc":499.75730587,"usd":45930427.52495621},{"symbol":"FBTC","btc":403.55566534,"usd":37040858.339812286},{"symbol":"WBTC.e","btc":116.8991166,"usd":10650582.564818595},{"symbol":"CDCBTC","btc":31.107662610000002,"usd":2856861.0030146725},{"symbol":"YVVBWBTC","btc":18.97436943,"usd":1741488.4898547262},{"symbol":"uniBTC","btc":2.27979959,"usd":207411.5825954315},{"symbol":"eBTC","btc":0.00205664,"usd":187.10897181496043},{"symbol":"BGBTC","btc":0.00001,"usd":0.9097798925186732}],"venues":56,"markets":134,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-01-19","total_btc":150316.51616672237,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":64425.688416424804,"usd":5951183617.280753},{"symbol":"cbBTC","btc":60228.93322834108,"usd":5566672231.556669},{"symbol":"BTCB","btc":8849.40798044895,"usd":818445827.0446755},{"symbol":"LBTC","btc":6307.657010033502,"usd":584281302.2170299},{"symbol":"BTC.b","btc":3213.0357809,"usd":297163611.16226447},{"symbol":"tBTC","btc":2577.3920320632496,"usd":238816370.35165802},{"symbol":"SolvBTC","btc":2405.6211759907815,"usd":222472703.76085582},{"symbol":"VBWBTC","btc":707.69633494,"usd":65344812.80047057},{"symbol":"UBTC","btc":509.71359066,"usd":47232983.53053583},{"symbol":"FBTC","btc":479.72715049,"usd":44387434.11868383},{"symbol":"EBTC","btc":444.23691264,"usd":41192498.417599805},{"symbol":"WBTC.e","btc":116.89855146,"usd":10791997.414413549},{"symbol":"CDCBTC","btc":28.82097037,"usd":2666325.4876124635},{"symbol":"YVVBWBTC","btc":19.40515425,"usd":1792761.469445112},{"symbol":"uniBTC","btc":2.27981107,"usd":210442.89102582357},{"symbol":"eBTC","btc":0.00205664,"usd":189.84260279048027},{"symbol":"BGBTC","btc":0.00001,"usd":0.9230716255177389}],"venues":56,"markets":135,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-01-26","total_btc":150906.16679973525,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":64351.95272350392,"usd":5605841129.018973},{"symbol":"cbBTC","btc":61396.229498648565,"usd":5386027313.643974},{"symbol":"BTCB","btc":8797.578826169196,"usd":770918346.7268046},{"symbol":"LBTC","btc":6252.507128156756,"usd":546976009.4595249},{"symbol":"BTC.b","btc":3191.03636071,"usd":279200037.132667},{"symbol":"tBTC","btc":2559.995111615147,"usd":223421016.3287612},{"symbol":"SolvBTC","btc":2133.9537474317094,"usd":187057317.95307943},{"symbol":"VBWBTC","btc":788.64371912,"usd":68805248.80875692},{"symbol":"UBTC","btc":445.53380347,"usd":39008274.86446759},{"symbol":"FBTC","btc":439.66950585,"usd":38326430.49445035},{"symbol":"EBTC","btc":381.43309409,"usd":33324637.39469836},{"symbol":"WBTC.e","btc":116.59718237,"usd":10254144.530194033},{"symbol":"CDCBTC","btc":29.29108316,"usd":2550227.529026975},{"symbol":"YVVBWBTC","btc":19.46313773,"usd":1698987.9188504298},{"symbol":"uniBTC","btc":2.27981107,"usd":200925.29853240895},{"symbol":"eBTC","btc":0.00205664,"usd":181.2566889473405},{"symbol":"BGBTC","btc":0.00001,"usd":0.8813243394436582}],"venues":56,"markets":135,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-02-02","total_btc":148531.15289600778,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":61910.338327388796,"usd":4701501238.534788},{"symbol":"cbBTC","btc":61461.19991814299,"usd":4750237509.165114},{"symbol":"BTCB","btc":8427.239673651698,"usd":641536971.3273113},{"symbol":"LBTC","btc":6762.099856170091,"usd":516900371.74000597},{"symbol":"BTC.b","btc":3140.23831417,"usd":239081529.24854702},{"symbol":"tBTC","btc":2554.6932188230276,"usd":193876070.16367352},{"symbol":"SolvBTC","btc":1951.5002854611837,"usd":148723083.94999075},{"symbol":"VBWBTC","btc":833.23628886,"usd":63319034.705168255},{"symbol":"UBTC","btc":466.38345301,"usd":35443746.79017825},{"symbol":"FBTC","btc":439.69359679,"usd":33327517.11299518},{"symbol":"EBTC","btc":403.9273528,"usd":30690206.399348807},{"symbol":"WBTC.e","btc":116.57170344,"usd":9089798.35756849},{"symbol":"YVVBWBTC","btc":33.72503909,"usd":2564200.8744395557},{"symbol":"CDCBTC","btc":28.03586692,"usd":2117499.447810742},{"symbol":"uniBTC","btc":2.26797852,"usd":177980.80477492372},{"symbol":"eBTC","btc":0.00201277,"usd":157.95318221392293},{"symbol":"BGBTC","btc":0.00001,"usd":0.7847552488059885}],"venues":56,"markets":136,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-02-09","total_btc":153619.70936985378,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":67042.62114144993,"usd":4729763745.008731},{"symbol":"WBTC","btc":61171.77757672905,"usd":4329968644.365209},{"symbol":"BTCB","btc":7728.196247516101,"usd":549910884.6849751},{"symbol":"LBTC","btc":7580.936219604922,"usd":537943359.813471},{"symbol":"BTC.b","btc":2976.92368349,"usd":211830257.27813506},{"symbol":"tBTC","btc":2641.3040346945213,"usd":187276066.8414578},{"symbol":"SolvBTC","btc":1944.1473082592825,"usd":138004305.75166777},{"symbol":"VBWBTC","btc":911.07090626,"usd":64774313.17671565},{"symbol":"FBTC","btc":629.59356676,"usd":44705802.23235402},{"symbol":"UBTC","btc":410.27849236,"usd":29164216.06729921},{"symbol":"EBTC","btc":403.89137885,"usd":28751885.166529737},{"symbol":"WBTC.e","btc":116.48147365,"usd":8186870.282447898},{"symbol":"YVVBWBTC","btc":34.02891012,"usd":2420759.463209598},{"symbol":"CDCBTC","btc":28.44842744,"usd":2027195.5283232564},{"symbol":"uniBTC","btc":0.00796457,"usd":558.798757523211},{"symbol":"eBTC","btc":0.00201277,"usd":141.21708707186872},{"symbol":"hemiBTC","btc":0.00001533,"usd":1.0755615121507909},{"symbol":"BGBTC","btc":0.00001,"usd":0.701605683072923}],"venues":55,"markets":136,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-02-16","total_btc":156512.53931441292,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":68606.1533189924,"usd":4706077104.400165},{"symbol":"WBTC","btc":60986.44863042263,"usd":4174947865.2120934},{"symbol":"BTCB","btc":7927.275410841604,"usd":544899575.3372742},{"symbol":"LBTC","btc":6796.8170004423255,"usd":466645459.57662034},{"symbol":"BTC.b","btc":2903.51947456,"usd":199484062.84335527},{"symbol":"tBTC","btc":2574.318391101872,"usd":176908106.60265988},{"symbol":"SolvBTC","btc":2122.934960192131,"usd":145685228.00509512},{"symbol":"KBTC","btc":2095.71884328,"usd":143569304.59914544},{"symbol":"VBWBTC","btc":880.95703753,"usd":60169685.59144191},{"symbol":"FBTC","btc":654.59361001,"usd":44872467.24445066},{"symbol":"EBTC","btc":393.06656654,"usd":27014318.118757077},{"symbol":"UBTC","btc":388.18208284,"usd":26664827.28069362},{"symbol":"WBTC.e","btc":116.48152365,"usd":7986677.760343018},{"symbol":"YVVBWBTC","btc":33.69096436,"usd":2301557.537811658},{"symbol":"CDCBTC","btc":28.515335200000003,"usd":1950512.4339551867},{"symbol":"uniBTC","btc":3.86412635,"usd":265114.60632738034},{"symbol":"eBTC","btc":0.00201277,"usd":138.09453362661426},{"symbol":"hemiBTC","btc":0.00001533,"usd":1.051778991387986},{"symbol":"BGBTC","btc":0.00001,"usd":0.6860919708988821}],"venues":56,"markets":137,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-02-23","total_btc":154347.16387134578,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":67961.9611150232,"usd":4397331715.96572},{"symbol":"WBTC","btc":59771.6687612662,"usd":3870279618.9717245},{"symbol":"BTCB","btc":8271.105966321757,"usd":535833093.01887244},{"symbol":"LBTC","btc":6464.244569949789,"usd":419842588.5046263},{"symbol":"BTC.b","btc":2884.79849986,"usd":187050276.92310557},{"symbol":"tBTC","btc":2580.795934688727,"usd":167607411.74953797},{"symbol":"SolvBTC","btc":2123.933432286167,"usd":137833098.0500771},{"symbol":"KBTC","btc":1947.30029149,"usd":126362961.92466839},{"symbol":"VBWBTC","btc":703.92780013,"usd":45645511.15507506},{"symbol":"FBTC","btc":654.59368805,"usd":42502205.21451478},{"symbol":"UBTC","btc":408.95117333,"usd":26514380.16402582},{"symbol":"EBTC","btc":393.33931363,"usd":25607571.676606156},{"symbol":"WBTC.e","btc":116.48159726,"usd":7518599.489410706},{"symbol":"CDCBTC","btc":28.66648785,"usd":1863268.4272415903},{"symbol":"YVVBWBTC","btc":25.25439826,"usd":1638093.9582811224},{"symbol":"uniBTC","btc":10.13880385,"usd":653982.9784181161},{"symbol":"eBTC","btc":0.00201277,"usd":129.8296464696505},{"symbol":"hemiBTC","btc":0.00001533,"usd":0.9888305570828968},{"symbol":"BGBTC","btc":0.00001,"usd":0.6450297176013677}],"venues":56,"markets":137,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-03-02","total_btc":153573.77532336663,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":67069.54433942203,"usd":4560758721.992619},{"symbol":"WBTC","btc":60121.64275324832,"usd":4027548309.35832},{"symbol":"BTCB","btc":7876.080281958659,"usd":526009088.3460349},{"symbol":"LBTC","btc":6464.82018781729,"usd":434344774.2322217},{"symbol":"BTC.b","btc":2799.14744977,"usd":186980480.73647055},{"symbol":"tBTC","btc":2518.340739523053,"usd":168107648.17724085},{"symbol":"SolvBTC","btc":2076.5061723472536,"usd":138760583.02486202},{"symbol":"KBTC","btc":1972.89798886,"usd":131925796.02796234},{"symbol":"VBWBTC","btc":787.14308654,"usd":52605681.35709606},{"symbol":"EBTC","btc":653.31852505,"usd":43889397.71853251},{"symbol":"FBTC","btc":581.57315766,"usd":38961490.643667355},{"symbol":"UBTC","btc":483.35317532,"usd":32222741.862441666},{"symbol":"WBTC.e","btc":116.483293,"usd":7971427.888959969},{"symbol":"CDCBTC","btc":28.72700607,"usd":1917039.4196281848},{"symbol":"YVVBWBTC","btc":14.07006619,"usd":940667.6412539667},{"symbol":"uniBTC","btc":10.12508313,"usd":697211.804493892},{"symbol":"eBTC","btc":0.00199213,"usd":137.17779244410184},{"symbol":"hemiBTC","btc":0.00001533,"usd":1.0556216502778841},{"symbol":"BGBTC","btc":0.00001,"usd":0.6885985977024685}],"venues":57,"markets":139,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-03-09","total_btc":154670.3110649642,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":67326.64448279991,"usd":4576168809.534331},{"symbol":"WBTC","btc":60226.015994012516,"usd":4051695203.9271665},{"symbol":"BTCB","btc":8119.98995498013,"usd":546922205.4061747},{"symbol":"LBTC","btc":6427.403730934884,"usd":434205245.89821285},{"symbol":"BTC.b","btc":2777.01597458,"usd":186943162.1379253},{"symbol":"tBTC","btc":2501.6367105063155,"usd":168358075.33017245},{"symbol":"SolvBTC","btc":2362.373732250453,"usd":158409658.63545594},{"symbol":"KBTC","btc":1968.827482,"usd":132679630.70574483},{"symbol":"VBWBTC","btc":1161.15420572,"usd":78045105.8711196},{"symbol":"EBTC","btc":652.78370955,"usd":44076191.74384089},{"symbol":"FBTC","btc":531.36598966,"usd":35775899.36779362},{"symbol":"UBTC","btc":438.2497698,"usd":29507106.777261727},{"symbol":"WBTC.e","btc":116.11536916,"usd":7924619.805536397},{"symbol":"CDCBTC","btc":28.76414369,"usd":1937463.0658890244},{"symbol":"uniBTC","btc":20.02529332,"usd":1371577.6135419116},{"symbol":"YVVBWBTC","btc":11.94251969,"usd":802770.769411422},{"symbol":"eBTC","btc":0.00199213,"usd":136.44548759424853},{"symbol":"BGBTC","btc":0.00001,"usd":0.6849226084354362},{"symbol":"hemiBTC","btc":1.8e-7,"usd":0.01232860695183785}],"venues":57,"markets":139,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-03-16","total_btc":153106.10576880438,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":67116.2978062627,"usd":4976655186.834943},{"symbol":"WBTC","btc":59804.14164299355,"usd":4399697240.965459},{"symbol":"BTCB","btc":7636.173199036705,"usd":563499102.6457489},{"symbol":"LBTC","btc":6312.599388612523,"usd":466830874.5797992},{"symbol":"BTC.b","btc":2744.27727287,"usd":202647522.7569873},{"symbol":"tBTC","btc":2554.435575527946,"usd":187669632.22100368},{"symbol":"SolvBTC","btc":2483.3539939309812,"usd":183661749.42303103},{"symbol":"KBTC","btc":1979.48863538,"usd":146376738.5170663},{"symbol":"VBWBTC","btc":914.78534201,"usd":67525511.63618787},{"symbol":"FBTC","btc":531.18948796,"usd":39102557.22568043},{"symbol":"UBTC","btc":461.42376324,"usd":34140982.09853883},{"symbol":"EBTC","btc":391.00281515,"usd":28867838.461441167},{"symbol":"WBTC.e","btc":116.11536923,"usd":8642760.419902543},{"symbol":"CDCBTC","btc":28.861763099999997,"usd":2130716.857205052},{"symbol":"uniBTC","btc":20.0265106,"usd":1493585.623840493},{"symbol":"YVVBWBTC","btc":11.93120059,"usd":880880.0623350242},{"symbol":"eBTC","btc":0.00199213,"usd":148.57389728300254},{"symbol":"BGBTC","btc":0.00001,"usd":0.7458042260444978},{"symbol":"hemiBTC","btc":1.8e-7,"usd":0.01342447606880096}],"venues":59,"markets":141,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-03-23","total_btc":152259.33771494194,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":67086.38040144993,"usd":4663438953.220636},{"symbol":"WBTC","btc":59039.16333054302,"usd":4032392614.0763154},{"symbol":"BTCB","btc":7694.367375113306,"usd":524400695.12356323},{"symbol":"LBTC","btc":6363.994467750283,"usd":436324001.1155875},{"symbol":"BTC.b","btc":2704.14117361,"usd":184338619.39017272},{"symbol":"SolvBTC","btc":2576.9487224247655,"usd":175835512.1852944},{"symbol":"tBTC","btc":2564.5966679006547,"usd":174673871.44495836},{"symbol":"KBTC","btc":1987.78950293,"usd":135553538.2912033},{"symbol":"VBWBTC","btc":924.76791565,"usd":63161182.72629147},{"symbol":"UBTC","btc":430.46958908,"usd":29335988.943917964},{"symbol":"EBTC","btc":417.1102599,"usd":28513808.597450722},{"symbol":"FBTC","btc":293.04343469,"usd":19971889.63041264},{"symbol":"WBTC.e","btc":116.08209719,"usd":8138962.402398072},{"symbol":"CDCBTC","btc":28.937623340000002,"usd":1971591.2166708035},{"symbol":"uniBTC","btc":19.51888541,"usd":1378052.8472870428},{"symbol":"YVVBWBTC","btc":12.02424465,"usd":821486.1733542655},{"symbol":"eBTC","btc":0.00199213,"usd":140.64637201361265},{"symbol":"hemiBTC","btc":0.00002118,"usd":1.4953292000262615},{"symbol":"BGBTC","btc":0.00001,"usd":0.7060100094552698}],"venues":60,"markets":143,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-03-30","total_btc":154469.95845119082,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":68351.67997093943,"usd":4561029216.071722},{"symbol":"WBTC","btc":59752.44403831683,"usd":3995440449.302257},{"symbol":"BTCB","btc":7377.824704699715,"usd":495880517.9452141},{"symbol":"LBTC","btc":6433.88300670322,"usd":431680268.1596626},{"symbol":"SolvBTC","btc":2794.313875800145,"usd":187279650.98209497},{"symbol":"tBTC","btc":2687.3003691014674,"usd":179805527.28359145},{"symbol":"BTC.b","btc":2633.02616123,"usd":176671942.34271294},{"symbol":"KBTC","btc":2096.23116215,"usd":140514226.83329806},{"symbol":"VBWBTC","btc":989.82132615,"usd":66448631.89827874},{"symbol":"EBTC","btc":424.27274634,"usd":28496626.768632125},{"symbol":"UBTC","btc":404.46848385,"usd":27116989.64595753},{"symbol":"FBTC","btc":348.04353295,"usd":23304083.09227567},{"symbol":"WBTC.e","btc":116.08219753,"usd":7732314.073873065},{"symbol":"CDCBTC","btc":29.01926581,"usd":1943873.8307007458},{"symbol":"uniBTC","btc":19.51888541,"usd":1299003.1178457555},{"symbol":"YVVBWBTC","btc":12.02637661,"usd":807752.8339131827},{"symbol":"eBTC","btc":0.00199213,"usd":132.5784247817901},{"symbol":"hemiBTC","btc":0.00034547,"usd":22.99140538487198},{"symbol":"BGBTC","btc":0.00001,"usd":0.6655109093371924}],"venues":60,"markets":143,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-04-06","total_btc":154920.2700910537,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":68217.5660662772,"usd":4698250320.659766},{"symbol":"WBTC","btc":60335.044974917844,"usd":4164565419.316736},{"symbol":"BTCB","btc":7314.911669561493,"usd":505741156.80361503},{"symbol":"LBTC","btc":6281.732041194908,"usd":434748660.6339228},{"symbol":"tBTC","btc":2842.2697597688525,"usd":196177442.2207563},{"symbol":"SolvBTC","btc":2710.040806773363,"usd":187493802.6710277},{"symbol":"BTC.b","btc":2562.15571599,"usd":177158379.28097683},{"symbol":"KBTC","btc":2087.88939977,"usd":144482828.09052026},{"symbol":"VBWBTC","btc":1035.22919051,"usd":71601376.00430684},{"symbol":"EBTC","btc":567.70039959,"usd":39401281.84999974},{"symbol":"FBTC","btc":398.01617444,"usd":27536750.813177362},{"symbol":"UBTC","btc":390.85944834,"usd":27064635.546741184},{"symbol":"WBTC.e","btc":116.08352832,"usd":7978495.379369401},{"symbol":"CDCBTC","btc":29.64479677,"usd":2051836.276479653},{"symbol":"uniBTC","btc":19.2946103,"usd":1324568.3158276733},{"symbol":"YVVBWBTC","btc":11.82916093,"usd":818501.7411516829},{"symbol":"eBTC","btc":0.00199213,"usd":136.7590346724848},{"symbol":"hemiBTC","btc":0.00034547,"usd":23.716395871907622},{"symbol":"BGBTC","btc":0.00001,"usd":0.6864965372364495}],"venues":62,"markets":146,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-04-13","total_btc":153209.52709889278,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":68120.39973566258,"usd":4978659738.509049},{"symbol":"WBTC","btc":59734.51920067858,"usd":4262469273.7387013},{"symbol":"BTCB","btc":7213.210727700868,"usd":512361611.322189},{"symbol":"LBTC","btc":5887.718836426793,"usd":420366441.0135769},{"symbol":"tBTC","btc":2968.4543990662787,"usd":211130729.84507906},{"symbol":"SolvBTC","btc":2493.1595922576957,"usd":177251046.03273487},{"symbol":"BTC.b","btc":2400.51316344,"usd":170611050.1816736},{"symbol":"KBTC","btc":2090.99299329,"usd":148921623.70961142},{"symbol":"VBWBTC","btc":1044.53560922,"usd":74197547.13567695},{"symbol":"FBTC","btc":399.01449004,"usd":28355764.709164906},{"symbol":"UBTC","btc":371.41336089,"usd":26404068.739803318},{"symbol":"EBTC","btc":313.82440815,"usd":22376624.786033005},{"symbol":"WBTC.e","btc":110.60920078,"usd":8164257.506347805},{"symbol":"CDCBTC","btc":29.73455412,"usd":2113051.793513048},{"symbol":"uniBTC","btc":19.2946103,"usd":1437665.6567914356},{"symbol":"YVVBWBTC","btc":12.12986927,"usd":861899.0333388004},{"symbol":"eBTC","btc":0.00199213,"usd":148.43610937630194},{"symbol":"hemiBTC","btc":0.00034547,"usd":25.741403776977926},{"symbol":"BGBTC","btc":0.00001,"usd":0.7451125648240926}],"venues":63,"markets":147,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-04-20","total_btc":131967.33069774014,"unresolved_btc":0,"shares":[{"symbol":"WBTC","btc":54188.35201779954,"usd":4035483987.198696},{"symbol":"cbBTC","btc":53815.256351617616,"usd":4051835416.4224787},{"symbol":"BTCB","btc":7096.235818503813,"usd":528861964.9382814},{"symbol":"LBTC","btc":5682.846561738783,"usd":424505781.4535052},{"symbol":"tBTC","btc":2679.4140724553163,"usd":199893163.58970976},{"symbol":"SolvBTC","btc":2492.9847582250513,"usd":185824295.3502577},{"symbol":"BTC.b","btc":2213.88928752,"usd":165058510.1120917},{"symbol":"KBTC","btc":1720.49894785,"usd":128171201.57646893},{"symbol":"VBWBTC","btc":1020.74206427,"usd":75887174.60700488},{"symbol":"FBTC","btc":399.05949846,"usd":29729228.63317359},{"symbol":"UBTC","btc":352.52716065,"usd":26239294.01699394},{"symbol":"EBTC","btc":134.56322905,"usd":10057691.03344262},{"symbol":"WBTC.e","btc":99.92563362,"usd":7530619.637150298},{"symbol":"CDCBTC","btc":29.763332119999998,"usd":2215439.196346998},{"symbol":"YVVBWBTC","btc":21.98980704,"usd":1634926.8774524503},{"symbol":"uniBTC","btc":19.27973122,"usd":1458971.7661348595},{"symbol":"eBTC","btc":0.00199213,"usd":150.75217549999834},{"symbol":"hemiBTC","btc":0.00034547,"usd":26.143049936492314},{"symbol":"kBTC","btc":0.000078,"usd":5.902561423702204},{"symbol":"BGBTC","btc":0.00001,"usd":0.7567386440643852}],"venues":63,"markets":148,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-04-27","total_btc":129341.02690442995,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":55206.10288969005,"usd":4290800039.5267425},{"symbol":"WBTC","btc":51728.58762935641,"usd":4072147083.673286},{"symbol":"BTCB","btc":6870.967050194031,"usd":544630893.4410975},{"symbol":"LBTC","btc":5592.384751340855,"usd":442516619.3191273},{"symbol":"SolvBTC","btc":2420.3167121296233,"usd":191704433.1878903},{"symbol":"tBTC","btc":2303.938008448963,"usd":182234078.97424328},{"symbol":"BTC.b","btc":1964.2675655,"usd":155679897.72193918},{"symbol":"KBTC","btc":1691.01192056,"usd":133765390.38528845},{"symbol":"VBWBTC","btc":588.43775169,"usd":46621425.02290019},{"symbol":"UBTC","btc":346.91500554,"usd":27494642.526620567},{"symbol":"FBTC","btc":346.70062225,"usd":27451996.78447544},{"symbol":"EBTC","btc":126.28892179,"usd":10032016.588283772},{"symbol":"WBTC.e","btc":99.92636866,"usd":7738732.535028836},{"symbol":"CDCBTC","btc":31.88838349,"usd":2524505.1046818323},{"symbol":"uniBTC","btc":19.27973122,"usd":1485061.1977016185},{"symbol":"YVVBWBTC","btc":4.01116697,"usd":317767.65650347545},{"symbol":"eBTC","btc":0.00199213,"usd":153.447936074356},{"symbol":"hemiBTC","btc":0.00034547,"usd":26.610541719469996},{"symbol":"kBTC","btc":0.000078,"usd":6.00811142535867},{"symbol":"BGBTC","btc":0.00001,"usd":0.7702706955588039}],"venues":63,"markets":148,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-05-04","total_btc":129140.15700460544,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":54237.9759448538,"usd":4336357539.495022},{"symbol":"WBTC","btc":51994.755854997005,"usd":4160808447.2995276},{"symbol":"BTCB","btc":6849.444605855226,"usd":548856156.387121},{"symbol":"LBTC","btc":5713.131603992933,"usd":458944490.8209148},{"symbol":"SolvBTC","btc":2417.211806161906,"usd":194500165.23575082},{"symbol":"tBTC","btc":2211.3652538754045,"usd":177600770.7339313},{"symbol":"BTC.b","btc":1949.68459015,"usd":156287714.25549343},{"symbol":"KBTC","btc":1699.34518026,"usd":136072569.92330784},{"symbol":"VBWBTC","btc":581.37666953,"usd":46650041.22386507},{"symbol":"UBTC","btc":576.5831450091276,"usd":46242214.68013313},{"symbol":"FBTC","btc":346.50273212,"usd":27851297.501678143},{"symbol":"ENZOBTC","btc":269.90066511000003,"usd":21657713.44956605},{"symbol":"EBTC","btc":137.58264921,"usd":11094257.14812275},{"symbol":"WBTC.e","btc":99.92699485,"usd":7979143.622560688},{"symbol":"CDCBTC","btc":32.078277019999994,"usd":2574549.6761202454},{"symbol":"uniBTC","btc":19.27973122,"usd":1538430.2116868375},{"symbol":"YVVBWBTC","btc":4.00887479,"usd":321605.5989007542},{"symbol":"eBTC","btc":0.00199213,"usd":158.96243275572488},{"symbol":"hemiBTC","btc":0.00034547,"usd":27.56685138224929},{"symbol":"kBTC","btc":0.000078,"usd":6.224026421441644},{"symbol":"BGBTC","btc":0.00001,"usd":0.7979521053130313}],"venues":65,"markets":155,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-05-11","total_btc":133003.2844577035,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":58940.53299223268,"usd":4791265585.710074},{"symbol":"WBTC","btc":52090.44929072391,"usd":4205512594.8935785},{"symbol":"BTCB","btc":6256.251744586298,"usd":504686176.1266202},{"symbol":"LBTC","btc":5718.647338825012,"usd":462809336.8081742},{"symbol":"SolvBTC","btc":2478.5295707118926,"usd":200848219.17276824},{"symbol":"tBTC","btc":2190.563661442833,"usd":177014616.85553136},{"symbol":"BTC.b","btc":1923.53924316,"usd":155165527.99180388},{"symbol":"KBTC","btc":1652.2474466,"usd":133488078.30116683},{"symbol":"UBTC","btc":560.2200106143125,"usd":45201946.50708434},{"symbol":"VBWBTC","btc":373.16388372,"usd":30088566.773151953},{"symbol":"ENZOBTC","btc":269.90066548000004,"usd":21750240.21601419},{"symbol":"FBTC","btc":221.31881977,"usd":17879278.36823721},{"symbol":"EBTC","btc":125.78383788,"usd":10194780.574812362},{"symbol":"WBTC.e","btc":99.91660454,"usd":8123926.543128155},{"symbol":"CDCBTC","btc":32.14224492,"usd":2603407.3433896443},{"symbol":"FEUBTC","btc":29.01373198648598,"usd":2342972.7875213427},{"symbol":"uniBTC","btc":19.27973122,"usd":1572577.6939207707},{"symbol":"XBTC","btc":15.11493986,"usd":1220024.2423072676},{"symbol":"YVVBWBTC","btc":3.83571185,"usd":309374.7477389584},{"symbol":"kBTC","btc":2.83063998,"usd":230885.0284930651},{"symbol":"eBTC","btc":0.00199213,"usd":162.4908130534812},{"symbol":"hemiBTC","btc":0.00034547,"usd":28.178733910731804},{"symbol":"BGBTC","btc":0.00001,"usd":0.8156637019345184}],"venues":67,"markets":157,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-05-18","total_btc":133584.10547605413,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":59199.192976914164,"usd":4547217280.654843},{"symbol":"WBTC","btc":52360.65525993335,"usd":4012274997.6328254},{"symbol":"BTCB","btc":6344.432651435821,"usd":487849494.69915885},{"symbol":"LBTC","btc":5648.697960817091,"usd":435062250.3000574},{"symbol":"SolvBTC","btc":2472.586486550721,"usd":191042503.3151527},{"symbol":"tBTC","btc":2194.957176914536,"usd":168680921.0351027},{"symbol":"BTC.b","btc":1926.562422,"usd":148133538.29530415},{"symbol":"KBTC","btc":1670.44340194,"usd":128331508.4457403},{"symbol":"VBWBTC","btc":513.53053246,"usd":39353524.203770176},{"symbol":"UBTC","btc":492.1005451319803,"usd":37784989.71601797},{"symbol":"ENZOBTC","btc":269.90066607,"usd":20704264.69596159},{"symbol":"FBTC","btc":132.63645738,"usd":10182603.144785456},{"symbol":"EBTC","btc":125.16117205,"usd":9642568.398510875},{"symbol":"WBTC.e","btc":94.91725232,"usd":7287369.176630671},{"symbol":"XBTC","btc":42.03471807,"usd":3225553.0491796467},{"symbol":"CDCBTC","btc":33.83594231,"usd":2596768.939760051},{"symbol":"FEUBTC","btc":28.973731986485976,"usd":2228915.0431390405},{"symbol":"uniBTC","btc":19.29531838,"usd":1482277.488761469},{"symbol":"kBTC","btc":10.46957997,"usd":804279.1728383482},{"symbol":"YVVBWBTC","btc":3.71887582,"usd":285212.6406167615},{"symbol":"eBTC","btc":0.00199213,"usd":153.03657579172764},{"symbol":"hemiBTC","btc":0.00034547,"usd":26.53920468983859},{"symbol":"BGBTC","btc":0.00001,"usd":0.7682057686583087}],"venues":67,"markets":157,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-05-25","total_btc":136351.29455923516,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":60459.64163670917,"usd":4656735736.554215},{"symbol":"WBTC","btc":53172.38774802046,"usd":4085120616.629201},{"symbol":"BTCB","btc":6346.265946043255,"usd":488729464.4047564},{"symbol":"LBTC","btc":5934.155147029171,"usd":457854652.35888773},{"symbol":"SolvBTC","btc":2472.877926714739,"usd":191359419.217505},{"symbol":"tBTC","btc":2223.416405209873,"usd":171159217.59534562},{"symbol":"BTC.b","btc":1949.95012445,"usd":150252860.85345992},{"symbol":"KBTC","btc":1687.19523031,"usd":130320450.86726455},{"symbol":"VBWBTC","btc":677.29861304,"usd":52011834.01869047},{"symbol":"UBTC","btc":499.09096966198035,"usd":38471626.14282081},{"symbol":"ENZOBTC","btc":269.90066607,"usd":20787037.848849725},{"symbol":"FBTC","btc":161.04599482,"usd":12405137.171451524},{"symbol":"EBTC","btc":125.03238285,"usd":9661161.629139844},{"symbol":"kBTC","btc":123.11897993,"usd":9485194.809695423},{"symbol":"WBTC.e","btc":91.82934982,"usd":7069529.048654216},{"symbol":"XBTC","btc":72.14958219,"usd":5556335.3555457955},{"symbol":"CDCBTC","btc":34.24207565,"usd":2638732.0228706105},{"symbol":"FEUBTC","btc":28.679186466485977,"usd":2211984.9280881104},{"symbol":"uniBTC","btc":19.27973122,"usd":1485327.4986865527},{"symbol":"YVVBWBTC","btc":3.73451543,"usd":287243.52072013356},{"symbol":"eBTC","btc":0.00199213,"usd":153.47545233872003},{"symbol":"hemiBTC","btc":0.00034547,"usd":26.6153135184238},{"symbol":"BGBTC","btc":0.00001,"usd":0.7704088204018816}],"venues":67,"markets":157,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-06-01","total_btc":140950.11624191154,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":63589.20320639674,"usd":4586024811.694213},{"symbol":"WBTC","btc":53267.0579643531,"usd":3897377250.4503474},{"symbol":"BTCB","btc":6429.247930929317,"usd":474688562.03646374},{"symbol":"LBTC","btc":5869.845736651524,"usd":431303913.37041557},{"symbol":"SolvBTC","btc":2574.9142455676288,"usd":191037928.87567502},{"symbol":"tBTC","btc":2238.5564663506407,"usd":164720903.04869702},{"symbol":"BTC.b","btc":1948.74158125,"usd":143896554.73728827},{"symbol":"KBTC","btc":1681.75431632,"usd":123905371.96517406},{"symbol":"kBTC","btc":1348.56404979,"usd":96051380.31680895},{"symbol":"VBWBTC","btc":661.71866562,"usd":48703375.86341061},{"symbol":"UBTC","btc":484.47500804608455,"usd":35772440.829224065},{"symbol":"ENZOBTC","btc":269.90066663,"usd":19902084.863040537},{"symbol":"FBTC","btc":196.82461684,"usd":14482883.771035599},{"symbol":"EBTC","btc":113.32547865,"usd":8370938.409664715},{"symbol":"XBTC","btc":98.39627662,"usd":7256893.02173411},{"symbol":"WBTC.e","btc":91.81072967,"usd":6592799.078956827},{"symbol":"CDCBTC","btc":34.36331416,"usd":2538894.9797993978},{"symbol":"FEUBTC","btc":28.302029396485977,"usd":2083672.5731766159},{"symbol":"uniBTC","btc":19.29818337,"usd":1374511.763519156},{"symbol":"YVVBWBTC","btc":3.8134277,"usd":281368.04570444964},{"symbol":"eBTC","btc":0.00199213,"usd":141.8893201997498},{"symbol":"hemiBTC","btc":0.00034547,"usd":24.606076636267495},{"symbol":"BGBTC","btc":0.00001,"usd":0.7122493020021274}],"venues":68,"markets":160,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-06-08","total_btc":143167.86856532944,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":63215.260694205645,"usd":3999138055.086182},{"symbol":"WBTC","btc":53791.958893428055,"usd":3399479647.5341325},{"symbol":"BTCB","btc":6851.337716662441,"usd":433046836.37780553},{"symbol":"LBTC","btc":6446.752166904197,"usd":408345753.8486196},{"symbol":"SolvBTC","btc":2740.555309290183,"usd":173495501.1494041},{"symbol":"kBTC","btc":2447.78284602,"usd":154739208.24502686},{"symbol":"tBTC","btc":2185.886897067557,"usd":138523307.1263771},{"symbol":"BTC.b","btc":1950.66388578,"usd":123332468.77419339},{"symbol":"KBTC","btc":1522.78525527,"usd":96260983.881443},{"symbol":"VBWBTC","btc":666.32118571,"usd":42048268.303514615},{"symbol":"UBTC","btc":467.5700022348601,"usd":29575583.860363744},{"symbol":"ENZOBTC","btc":269.90066663,"usd":17062596.527365904},{"symbol":"FBTC","btc":217.63858979,"usd":13796617.464623613},{"symbol":"XBTC","btc":110.04193148,"usd":6955990.600345289},{"symbol":"EBTC","btc":105.67551195,"usd":6721630.707366327},{"symbol":"WBTC.e","btc":91.68754729999999,"usd":5794312.140031503},{"symbol":"CDCBTC","btc":34.737839529999995,"usd":2197795.5419652145},{"symbol":"FEUBTC","btc":28.260854726485977,"usd":1784985.4129526708},{"symbol":"uniBTC","btc":19.23802992,"usd":1216152.6186259638},{"symbol":"YVVBWBTC","btc":3.81039383,"usd":240972.20251495772},{"symbol":"eBTC","btc":0.00199213,"usd":125.93462668569035},{"symbol":"hemiBTC","btc":0.00034547,"usd":21.8392552098033},{"symbol":"BGBTC","btc":0.00001,"usd":0.6321606857267867}],"venues":69,"markets":161,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-06-15","total_btc":143202.40288781817,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":63614.14147887232,"usd":4198028457.899555},{"symbol":"WBTC","btc":54157.02229231228,"usd":3551898725.8522744},{"symbol":"BTCB","btc":6816.682167700577,"usd":447554060.16965634},{"symbol":"LBTC","btc":6600.72348496,"usd":434046510.4385774},{"symbol":"kBTC","btc":3069.64305627,"usd":203211807.38990566},{"symbol":"SolvBTC","btc":2776.501898143825,"usd":182271861.87185097},{"symbol":"tBTC","btc":2237.2635791678085,"usd":146747898.69552094},{"symbol":"BTC.b","btc":1940.58752377,"usd":127417560.18184587},{"symbol":"UBTC","btc":470.0815559148601,"usd":30803038.35310797},{"symbol":"VBWBTC","btc":415.71886455,"usd":27295429.62563993},{"symbol":"ENZOBTC","btc":269.90001538,"usd":17662440.97204504},{"symbol":"FBTC","btc":217.16124255,"usd":14246680.88259539},{"symbol":"KBTC","btc":212.44076427,"usd":13935782.728519738},{"symbol":"XBTC","btc":128.13255174,"usd":8382355.936625274},{"symbol":"EBTC","btc":98.62264444,"usd":6493915.220451318},{"symbol":"WBTC.e","btc":91.66587933,"usd":6053412.349739888},{"symbol":"CDCBTC","btc":34.772765729999996,"usd":2283528.5794217247},{"symbol":"FEUBTC","btc":28.394854936485977,"usd":1861498.3099982084},{"symbol":"uniBTC","btc":19.22490708,"usd":1272697.8489078651},{"symbol":"YVVBWBTC","btc":3.7190131,"usd":244749.00006061993},{"symbol":"eBTC","btc":0.00199213,"usd":131.87993862308048},{"symbol":"hemiBTC","btc":0.00034547,"usd":22.870275733067427},{"symbol":"BGBTC","btc":0.00001,"usd":0.6620046815372516}],"venues":69,"markets":160,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-06-22","total_btc":144900.62389321052,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":63480.36931322954,"usd":4060360141.328679},{"symbol":"WBTC","btc":54984.966952981325,"usd":3519768011.5623217},{"symbol":"BTCB","btc":6746.54618647286,"usd":433431422.05253965},{"symbol":"LBTC","btc":6598.57193992,"usd":423262386.0286252},{"symbol":"kBTC","btc":3608.14085042,"usd":230556308.57774445},{"symbol":"SolvBTC","btc":2788.377548115792,"usd":179130269.89291796},{"symbol":"BTC.b","btc":2436.68533587,"usd":156432328.14752835},{"symbol":"tBTC","btc":2230.581206089154,"usd":142940094.84017062},{"symbol":"UBTC","btc":467.3579650748601,"usd":29954263.299339056},{"symbol":"VBWBTC","btc":425.59292134,"usd":27201285.338593703},{"symbol":"ENZOBTC","btc":269.90001538,"usd":17310804.186781693},{"symbol":"KBTC","btc":251.35792237,"usd":16104189.889652},{"symbol":"FBTC","btc":217.08101192,"usd":13910985.461667227},{"symbol":"XBTC","btc":127.35032718,"usd":8160363.179562942},{"symbol":"WBTC.e","btc":91.66645825,"usd":5862305.793512415},{"symbol":"EBTC","btc":91.33354504,"usd":5875863.175490983},{"symbol":"CDCBTC","btc":33.599753899999996,"usd":2157908.2904904275},{"symbol":"FEUBTC","btc":28.191371877073397,"usd":1806712.8522236773},{"symbol":"uniBTC","btc":19.22890708,"usd":1228706.4219882656},{"symbol":"YVVBWBTC","btc":3.7190131,"usd":238229.41927088704},{"symbol":"hemiBTC","btc":0.00334547,"usd":213.77192455438723},{"symbol":"eBTC","btc":0.00199213,"usd":127.29495827567769},{"symbol":"BGBTC","btc":0.00001,"usd":0.6389892139352236}],"venues":69,"markets":160,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-06-29","total_btc":150644.95860751718,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":68694.28232259341,"usd":4121634676.8019137},{"symbol":"WBTC","btc":55335.12676387063,"usd":3307984422.9899898},{"symbol":"BTCB","btc":6900.448376633969,"usd":413750544.929284},{"symbol":"LBTC","btc":6507.62230794785,"usd":390361812.31648546},{"symbol":"kBTC","btc":4080.49015893,"usd":245351143.16580266},{"symbol":"SolvBTC","btc":2668.6968230027187,"usd":159895655.4913138},{"symbol":"BTC.b","btc":2413.77402116,"usd":144767779.31956375},{"symbol":"tBTC","btc":2241.0367453066665,"usd":133900653.7305684},{"symbol":"UBTC","btc":458.6176579648601,"usd":27524401.784602344},{"symbol":"ENZOBTC","btc":269.90001538,"usd":16209147.309889965},{"symbol":"VBWBTC","btc":232.72712379,"usd":13921987.13160312},{"symbol":"KBTC","btc":226.21806252,"usd":13578672.468434555},{"symbol":"FBTC","btc":217.32308025,"usd":12987797.339707617},{"symbol":"XBTC","btc":129.0047381,"usd":7722778.34303983},{"symbol":"EBTC","btc":93.17281974,"usd":5590107.7305482095},{"symbol":"WBTC.e","btc":91.59878303,"usd":5501632.799476185},{"symbol":"CDCBTC","btc":33.55621017,"usd":2005209.9216598505},{"symbol":"FEUBTC","btc":28.4093503370734,"usd":1706021.7260945009},{"symbol":"uniBTC","btc":19.22890629,"usd":1156192.9955289292},{"symbol":"YVVBWBTC","btc":3.7190131,"usd":222943.44598819435},{"symbol":"hemiBTC","btc":0.00334547,"usd":201.1559535637098},{"symbol":"eBTC","btc":0.00197193,"usd":118.56793201280726},{"symbol":"BGBTC","btc":0.00001,"usd":0.6012786052892712}],"venues":69,"markets":161,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-07-06","total_btc":152791.2105796608,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":70627.88289312077,"usd":4507944545.348142},{"symbol":"WBTC","btc":55501.61465224225,"usd":3520586949.0406046},{"symbol":"BTCB","btc":6869.122402558742,"usd":434215498.9551882},{"symbol":"LBTC","btc":6483.850538855601,"usd":412267929.7523727},{"symbol":"kBTC","btc":4197.66480842,"usd":269130107.67372733},{"symbol":"SolvBTC","btc":2698.4871422781302,"usd":170498915.33474523},{"symbol":"tBTC","btc":2299.0112317133544,"usd":145714139.95972422},{"symbol":"BTC.b","btc":2277.15356016,"usd":143842120.2829424},{"symbol":"UBTC","btc":454.55379592486855,"usd":28797103.710526634},{"symbol":"ENZOBTC","btc":269.90001538,"usd":17095706.37293769},{"symbol":"VBWBTC","btc":259.593899,"usd":16436764.362412147},{"symbol":"KBTC","btc":227.90436541,"usd":14436625.728950452},{"symbol":"FBTC","btc":217.32218305,"usd":13768744.109968908},{"symbol":"XBTC","btc":136.60912458,"usd":8625720.219408972},{"symbol":"EBTC","btc":94.15923669,"usd":5986083.225029788},{"symbol":"WBTC.e","btc":91.49197331,"usd":5847743.664430589},{"symbol":"CDCBTC","btc":33.62657316999999,"usd":2133775.6204466107},{"symbol":"FEUBTC","btc":28.332860667073398,"usd":1791008.7132914544},{"symbol":"uniBTC","btc":19.20346612,"usd":1231215.7212308948},{"symbol":"YVVBWBTC","btc":3.71899155,"usd":236049.697837951},{"symbol":"hemiBTC","btc":0.00488353,"usd":313.10383623093094},{"symbol":"eBTC","btc":0.00197193,"usd":126.42880207121893},{"symbol":"BGBTC","btc":0.00001,"usd":0.6411424445655725}],"venues":71,"markets":163,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-07-13","total_btc":152234.41119337114,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":70054.61508143914,"usd":4372486631.872408},{"symbol":"WBTC","btc":55141.26186634468,"usd":3466982528.5018973},{"symbol":"BTCB","btc":6720.814595122693,"usd":422634355.2011412},{"symbol":"LBTC","btc":6487.026226107702,"usd":408221195.25201374},{"symbol":"kBTC","btc":4608.75879209,"usd":286051325.9346299},{"symbol":"SolvBTC","btc":2708.3239869310146,"usd":170063632.7831106},{"symbol":"tBTC","btc":2304.103080413936,"usd":145321992.82484093},{"symbol":"BTC.b","btc":2252.83865481,"usd":141734051.19586492},{"symbol":"UBTC","btc":460.4304015648686,"usd":29026982.756812833},{"symbol":"VBWBTC","btc":299.17369505,"usd":18800293.501779683},{"symbol":"ENZOBTC","btc":269.90001538,"usd":17030302.332809053},{"symbol":"KBTC","btc":229.74308414,"usd":14498960.1692064},{"symbol":"FBTC","btc":217.2735232,"usd":13699399.523247987},{"symbol":"XBTC","btc":208.44958546,"usd":13149607.944116497},{"symbol":"EBTC","btc":95.30532677,"usd":6028854.409664693},{"symbol":"WBTC.e","btc":91.4605614,"usd":5694574.696716553},{"symbol":"CDCBTC","btc":33.74866075999999,"usd":2123035.002834192},{"symbol":"FEUBTC","btc":28.254733257073397,"usd":1777072.4971041353},{"symbol":"uniBTC","btc":19.20346612,"usd":1191899.4232448589},{"symbol":"YVVBWBTC","btc":3.71899155,"usd":234254.6584572674},{"symbol":"hemiBTC","btc":0.00488353,"usd":303.1055203277524},{"symbol":"eBTC","btc":0.00197193,"usd":122.39156280393587},{"symbol":"BGBTC","btc":0.00001,"usd":0.6206689020600927}],"venues":71,"markets":164,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-07-20","total_btc":153114.87468428613,"unresolved_btc":0,"shares":[{"symbol":"cbBTC","btc":71338.64343420608,"usd":4636196144.167463},{"symbol":"WBTC","btc":55204.954918872754,"usd":3576983641.658741},{"symbol":"BTCB","btc":6708.4727483473725,"usd":433807642.9116556},{"symbol":"LBTC","btc":6503.919523150395,"usd":422540394.8179707},{"symbol":"kBTC","btc":4820.42948441,"usd":313766849.3533569},{"symbol":"SolvBTC","btc":2708.3236997165095,"usd":175020443.78090063},{"symbol":"tBTC","btc":2322.125087591086,"usd":150511105.6246012},{"symbol":"BTC.b","btc":1530.7406508,"usd":98965107.79257841},{"symbol":"UBTC","btc":457.3709456348686,"usd":29630917.586285967},{"symbol":"VBWBTC","btc":325.28229111,"usd":20987733.16712093},{"symbol":"ENZOBTC","btc":269.90001538,"usd":17476972.572994944},{"symbol":"XBTC","btc":241.56309194,"usd":15668235.23399853},{"symbol":"FBTC","btc":217.27362684,"usd":14082862.162604362},{"symbol":"KBTC","btc":195.06707217,"usd":12656310.390242027},{"symbol":"EBTC","btc":95.77434712,"usd":6229946.750788218},{"symbol":"WBTC.e","btc":91.46002700999999,"usd":5942280.947462485},{"symbol":"CDCBTC","btc":33.82495177,"usd":2191818.4965448095},{"symbol":"FEUBTC","btc":27.731257537073397,"usd":1796101.8043715297},{"symbol":"uniBTC","btc":18.2916834,"usd":1190625.0030933844},{"symbol":"YVVBWBTC","btc":3.71899155,"usd":240510.94442618368},{"symbol":"hemiBTC","btc":0.00488353,"usd":317.8741285975153},{"symbol":"eBTC","btc":0.0019422,"usd":126.41985051020355},{"symbol":"BGBTC","btc":0.00001,"usd":0.6509105679652124}],"venues":72,"markets":166,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"era":"aggregator"},{"date":"2026-07-24","total_btc":153780.95758145297,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":71254.46723709117,"usd":4624833938.139941},{"symbol":"WBTC","btc":55831.710665881794,"usd":3587330938.8253875},{"symbol":"BTCB","btc":6696.190336781557,"usd":437149847.1373059},{"symbol":"LBTC","btc":6494.92905718918,"usd":421748952.06465167},{"symbol":"kBTC","btc":5074.99110014,"usd":331392033.41573876},{"symbol":"SolvBTC","btc":2708.3363969043703,"usd":176591013.72693548},{"symbol":"tBTC","btc":2307.102073328158,"usd":147873805.80142093},{"symbol":"BTC.b","btc":1553.51752352,"usd":99809270.00120373},{"symbol":"UBTC","btc":461.28942060969484,"usd":30072601.95620114},{"symbol":"vbWBTC","btc":340.05531513,"usd":22113412.926798377},{"symbol":"enzoBTC","btc":269.90001538,"usd":17609301.43454008},{"symbol":"xBTC","btc":247.01582776,"usd":16071051.071965225},{"symbol":"FBTC","btc":229.14154127,"usd":14730966.018168876},{"symbol":"WBTC.e","btc":132.64522123999998,"usd":8519942.919612182},{"symbol":"eBTC","btc":95.87710436,"usd":6161515.805316838},{"symbol":"CDCBTC","btc":34.21705453,"usd":2225467.157040671},{"symbol":"feUBTC","btc":27.561132567073397,"usd":1800787.3503220151},{"symbol":"uniBTC","btc":18.2915662,"usd":1195060.6134931592},{"symbol":"yvvbWBTC","btc":3.71899155,"usd":242406.70168258622}],"venues":72,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-07-25","total_btc":154148.06035752283,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":71515.55504604122,"usd":4577570274.919918},{"symbol":"WBTC","btc":55908.36608382747,"usd":3578947158.2683544},{"symbol":"BTCB","btc":6721.1444776856615,"usd":430213155.3937859},{"symbol":"LBTC","btc":6495.943734413876,"usd":416207170.87670046},{"symbol":"kBTC","btc":5075.21511384,"usd":324761594.7963249},{"symbol":"SolvBTC","btc":2708.5365788497925,"usd":173181555.89322212},{"symbol":"tBTC","btc":2309.6713158980365,"usd":147856574.28310302},{"symbol":"BTC.b","btc":1553.39965454,"usd":99429550.76494746},{"symbol":"UBTC","btc":458.99796485969483,"usd":29387880.571288332},{"symbol":"vbWBTC","btc":340.05455573,"usd":21759176.44035906},{"symbol":"enzoBTC","btc":269.90001538,"usd":17264381.19979462},{"symbol":"xBTC","btc":247.09134115,"usd":15817399.007085737},{"symbol":"FBTC","btc":231.78153502,"usd":14836103.562885547},{"symbol":"WBTC.e","btc":132.64524046,"usd":8489768.69458641},{"symbol":"eBTC","btc":95.96515392,"usd":6146250.192924877},{"symbol":"CDCBTC","btc":34.220783569999995,"usd":2191839.1474027215},{"symbol":"feUBTC","btc":27.561132567073397,"usd":1766876.6855389772},{"symbol":"uniBTC","btc":18.2915662,"usd":1170875.8577497455},{"symbol":"yvvbWBTC","btc":3.71906355,"usd":238533.77070418693}],"venues":72,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-07-26","total_btc":154250.8356016426,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":71697.88133522127,"usd":4622268513.127814},{"symbol":"WBTC","btc":55841.18125805561,"usd":3598403393.85837},{"symbol":"BTCB","btc":6711.895508508281,"usd":432896785.18780637},{"symbol":"LBTC","btc":6495.951235538572,"usd":418853804.4561527},{"symbol":"kBTC","btc":5079.02114937,"usd":327231192.1068344},{"symbol":"SolvBTC","btc":2708.2046951862962,"usd":174489600.62247944},{"symbol":"tBTC","btc":2310.9225840883837,"usd":148911697.68161073},{"symbol":"BTC.b","btc":1546.06990103,"usd":99651056.81999381},{"symbol":"UBTC","btc":458.2893265071278,"usd":29497232.76373018},{"symbol":"vbWBTC","btc":340.05402474,"usd":21927214.73711716},{"symbol":"enzoBTC","btc":269.90001538,"usd":17365372.38754951},{"symbol":"xBTC","btc":247.14087654,"usd":15942611.257762756},{"symbol":"FBTC","btc":231.78154258,"usd":14940398.462675193},{"symbol":"WBTC.e","btc":132.64527916,"usd":8547913.605448091},{"symbol":"eBTC","btc":96.1007538,"usd":6196679.465248521},{"symbol":"CDCBTC","btc":34.2243536,"usd":2207431.4227906405},{"symbol":"feUBTC","btc":27.561132567073397,"usd":1777990.7108079586},{"symbol":"uniBTC","btc":18.2915662,"usd":1179937.7654977813},{"symbol":"yvvbWBTC","btc":3.71906355,"usd":240376.43382762867}],"venues":71,"markets":203,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-07-27","total_btc":154576.50390279715,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":71875.20846750133,"usd":4683804859.34097},{"symbol":"WBTC","btc":55961.22622099835,"usd":3644487970.2924757},{"symbol":"BTCB","btc":6710.806150243282,"usd":438021864.59494734},{"symbol":"LBTC","btc":6498.113849413268,"usd":423344862.35182},{"symbol":"kBTC","btc":5079.26527265,"usd":330539448.7989575},{"symbol":"SolvBTC","btc":2708.2046951862962,"usd":176627321.59048355},{"symbol":"tBTC","btc":2315.0061116104544,"usd":150757756.13043866},{"symbol":"BTC.b","btc":1553.77223427,"usd":101231109.91728416},{"symbol":"UBTC","btc":457.4829696071278,"usd":29781256.672814332},{"symbol":"vbWBTC","btc":340.05402474,"usd":22160552.368876982},{"symbol":"enzoBTC","btc":269.90001538,"usd":17567030.446747456},{"symbol":"xBTC","btc":247.1429147,"usd":16107022.936880779},{"symbol":"FBTC","btc":246.78158029,"usd":16075830.418623565},{"symbol":"WBTC.e","btc":132.64531777,"usd":8639427.098460477},{"symbol":"eBTC","btc":97.10919142,"usd":6329389.781021207},{"symbol":"CDCBTC","btc":34.21312468,"usd":2230895.998104816},{"symbol":"feUBTC","btc":27.561132567073397,"usd":1797101.5749299969},{"symbol":"uniBTC","btc":18.2915662,"usd":1193128.9661646292},{"symbol":"yvvbWBTC","btc":3.71906355,"usd":242937.52940786522}],"venues":72,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-07-28","total_btc":155044.86887072842,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":72128.51863205139,"usd":4567519243.456013},{"symbol":"WBTC","btc":56106.63828458189,"usd":3558536903.1072946},{"symbol":"BTCB","btc":6704.344166060534,"usd":424042458.3231834},{"symbol":"LBTC","btc":6498.400787597964,"usd":411405678.87519234},{"symbol":"kBTC","btc":5140.70352067,"usd":324704889.15350246},{"symbol":"SolvBTC","btc":2708.204695644235,"usd":171138403.9417306},{"symbol":"tBTC","btc":2310.4287977782396,"usd":146636937.07058278},{"symbol":"BTC.b","btc":1569.88436296,"usd":99563451.67053899},{"symbol":"UBTC","btc":457.5129682971278,"usd":28920026.0772497},{"symbol":"vbWBTC","btc":340.08550406,"usd":21453131.587980162},{"symbol":"enzoBTC","btc":269.90001538,"usd":17066271.650266174},{"symbol":"xBTC","btc":249.83353734,"usd":15761519.94795785},{"symbol":"FBTC","btc":246.8274873,"usd":15645621.41416245},{"symbol":"WBTC.e","btc":132.64536211,"usd":8412724.15377715},{"symbol":"eBTC","btc":97.15418842,"usd":6165147.041083928},{"symbol":"CDCBTC","btc":34.214798140000006,"usd":2165759.428132028},{"symbol":"feUBTC","btc":27.561132567073397,"usd":1742131.7576722393},{"symbol":"uniBTC","btc":18.2915662,"usd":1157517.590663633},{"symbol":"yvvbWBTC","btc":3.71906355,"usd":235169.69169910654}],"venues":72,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-07-29","total_btc":156039.26551944544,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":72906.96613885145,"usd":4653649366.958474},{"symbol":"WBTC","btc":56317.07760258157,"usd":3594595747.389037},{"symbol":"BTCB","btc":6705.008509573399,"usd":427761220.7034021},{"symbol":"LBTC","btc":6498.42701958266,"usd":415547049.53061676},{"symbol":"kBTC","btc":5143.01727732,"usd":328336786.0645209},{"symbol":"SolvBTC","btc":2708.2046957902544,"usd":172613081.3343769},{"symbol":"tBTC","btc":2309.859955931919,"usd":147401061.0615318},{"symbol":"BTC.b","btc":1570.36442342,"usd":100202485.5517068},{"symbol":"UBTC","btc":460.1354860271278,"usd":29356233.663798653},{"symbol":"vbWBTC","btc":340.06362088,"usd":21703123.65392239},{"symbol":"enzoBTC","btc":269.90001538,"usd":17203723.87033812},{"symbol":"xBTC","btc":249.80832673,"usd":15945156.60334907},{"symbol":"FBTC","btc":246.82757089,"usd":15755003.87924918},{"symbol":"WBTC.e","btc":132.64556844,"usd":8465284.965558752},{"symbol":"eBTC","btc":97.16716674,"usd":6204381.9650801355},{"symbol":"CDCBTC","btc":34.22037897,"usd":2185350.197170069},{"symbol":"feUBTC","btc":27.561132567073397,"usd":1759288.5336788823},{"symbol":"uniBTC","btc":18.2915662,"usd":1167757.5362526767},{"symbol":"yvvbWBTC","btc":3.71906355,"usd":237942.237694387}],"venues":72,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-07-30","total_btc":155570.50212349553,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":72285.08996708151,"usd":4635091875.493385},{"symbol":"WBTC","btc":56398.38043047516,"usd":3617436902.408309},{"symbol":"BTCB","btc":6721.728185764352,"usd":431154734.0000714},{"symbol":"LBTC","btc":6492.967803047357,"usd":416750809.7469878},{"symbol":"kBTC","btc":5173.42632543,"usd":332007915.35407},{"symbol":"SolvBTC","btc":2708.2046016893905,"usd":173565958.1455014},{"symbol":"tBTC","btc":2309.8454913094965,"usd":148115685.66311365},{"symbol":"BTC.b","btc":1575.51634674,"usd":101038341.79974152},{"symbol":"UBTC","btc":459.9846780112176,"usd":29505678.81533},{"symbol":"vbWBTC","btc":356.05132088,"usd":22814690.56163118},{"symbol":"enzoBTC","btc":269.90001538,"usd":17299770.33326924},{"symbol":"xBTC","btc":253.75574038,"usd":16318668.793129057},{"symbol":"FBTC","btc":252.32756844,"usd":16178792.069766233},{"symbol":"WBTC.e","btc":132.64560714,"usd":8506824.67473966},{"symbol":"eBTC","btc":96.9213776,"usd":6219041.078619089},{"symbol":"CDCBTC","btc":34.184901790000005,"usd":2194514.5862938487},{"symbol":"feUBTC","btc":27.561132567073397,"usd":1768237.3066861844},{"symbol":"uniBTC","btc":18.2915662,"usd":1173087.047821948},{"symbol":"yvvbWBTC","btc":3.71906355,"usd":238896.7291266641}],"venues":72,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-07-31","total_btc":155421.78147392036,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":72097.43568238158,"usd":4635395101.401069},{"symbol":"WBTC","btc":56337.32699408663,"usd":3623012586.016304},{"symbol":"BTCB","btc":6867.901946342256,"usd":441786067.72618717},{"symbol":"LBTC","btc":6445.648432582053,"usd":414664618.6009011},{"symbol":"kBTC","btc":5183.72617997,"usd":332580798.85194945},{"symbol":"SolvBTC","btc":2708.2046268238723,"usd":174053035.95544955},{"symbol":"tBTC","btc":2301.6925630857086,"usd":148087647.5958191},{"symbol":"BTC.b","btc":1577.54961846,"usd":101459103.25377981},{"symbol":"UBTC","btc":456.6829008612176,"usd":29368430.588930402},{"symbol":"vbWBTC","btc":356.05132088,"usd":22946582.166392326},{"symbol":"enzoBTC","btc":269.90001538,"usd":17366080.673385505},{"symbol":"xBTC","btc":253.85825489,"usd":16306059.516271528},{"symbol":"FBTC","btc":252.32757598,"usd":16223751.083124785},{"symbol":"WBTC.e","btc":132.64564581,"usd":8531467.071188044},{"symbol":"eBTC","btc":97.06937017,"usd":6246988.435403283},{"symbol":"CDCBTC","btc":34.18858388,"usd":2195630.1317466106},{"symbol":"feUBTC","btc":27.561132567073397,"usd":1771012.9418293347},{"symbol":"uniBTC","btc":18.2915662,"usd":1176325.776634095},{"symbol":"yvvbWBTC","btc":3.71906355,"usd":240276.7106299451}],"venues":72,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-01","total_btc":155861.52612766356,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":72402.05882529162,"usd":4560780563.820211},{"symbol":"WBTC","btc":56486.731157122835,"usd":3558668320.303338},{"symbol":"BTCB","btc":6849.024096070592,"usd":431392405.57914186},{"symbol":"LBTC","btc":6445.685512176749,"usd":406391240.9665858},{"symbol":"kBTC","btc":5191.96752828,"usd":327099603.9363804},{"symbol":"SolvBTC","btc":2708.4049126455707,"usd":170340282.92509085},{"symbol":"tBTC","btc":2302.6801724979337,"usd":145052480.480056},{"symbol":"BTC.b","btc":1573.87470061,"usd":99116242.75294268},{"symbol":"UBTC","btc":459.2503373712176,"usd":28884944.05291638},{"symbol":"vbWBTC","btc":356.08308292,"usd":22399928.392246623},{"symbol":"enzoBTC","btc":269.90001538,"usd":16983150.91671898},{"symbol":"FBTC","btc":252.32758354,"usd":15884043.871280426},{"symbol":"xBTC","btc":250.17962129,"usd":15728581.637470905},{"symbol":"WBTC.e","btc":132.64568457,"usd":8355123.726710485},{"symbol":"eBTC","btc":96.91120609,"usd":6107384.737560815},{"symbol":"CDCBTC","btc":34.22992947,"usd":2154999.9706138177},{"symbol":"feUBTC","btc":27.561132567073397,"usd":1736097.8943966057},{"symbol":"uniBTC","btc":18.2915662,"usd":1152363.9706833176},{"symbol":"yvvbWBTC","btc":3.71906355,"usd":234539.54463892037}],"venues":72,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-02","total_btc":155969.36025508764,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":72408.60621537168,"usd":4592767686.802638},{"symbol":"WBTC","btc":56587.196652313985,"usd":3592221167.2932587},{"symbol":"BTCB","btc":6874.178242721917,"usd":436015891.44029576},{"symbol":"LBTC","btc":6445.882856401462,"usd":408849254.78562516},{"symbol":"kBTC","btc":5146.15656001,"usd":326046101.97431785},{"symbol":"SolvBTC","btc":2707.5976498493883,"usd":171528866.607047},{"symbol":"tBTC","btc":2303.253035950902,"usd":146208126.7201241},{"symbol":"BTC.b","btc":1575.60781028,"usd":100030228.56508979},{"symbol":"UBTC","btc":458.9281684412176,"usd":29067431.25003196},{"symbol":"vbWBTC","btc":356.19507999,"usd":22569052.724762324},{"symbol":"FBTC","btc":272.32757107,"usd":17274980.21377696},{"symbol":"enzoBTC","btc":269.90001538,"usd":17104396.035353217},{"symbol":"xBTC","btc":250.18043807,"usd":15826833.032147989},{"symbol":"WBTC.e","btc":132.64582386,"usd":8422653.777386496},{"symbol":"eBTC","btc":96.91540776,"usd":6156257.587851478},{"symbol":"CDCBTC","btc":34.230283889999995,"usd":2169496.3088981253},{"symbol":"feUBTC","btc":27.571475897073398,"usd":1748865.0575908218},{"symbol":"uniBTC","btc":18.26790426,"usd":1158803.0865935944},{"symbol":"yvvbWBTC","btc":3.71906355,"usd":236238.66418194206}],"venues":72,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-03","total_btc":156202.41827673168,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":72533.45038250175,"usd":4574696864.446394},{"symbol":"WBTC","btc":56573.86686388246,"usd":3571923663.8872204},{"symbol":"BTCB","btc":6912.0909482170655,"usd":435414478.0957182},{"symbol":"LBTC","btc":6500.938452616193,"usd":410766187.99914247},{"symbol":"kBTC","btc":5142.35387815,"usd":324641195.64799196},{"symbol":"SolvBTC","btc":2707.5975505243177,"usd":170382165.34157133},{"symbol":"tBTC","btc":2337.236549511635,"usd":147534216.14832997},{"symbol":"BTC.b","btc":1574.12868297,"usd":99339251.69209331},{"symbol":"UBTC","btc":459.7331588312176,"usd":29049478.68382187},{"symbol":"vbWBTC","btc":353.68529403,"usd":22298805.146680955},{"symbol":"FBTC","btc":272.32762601,"usd":17179355.032665905},{"symbol":"enzoBTC","btc":269.90001538,"usd":17037438.470862504},{"symbol":"xBTC","btc":251.86291822,"usd":15868575.38366261},{"symbol":"WBTC.e","btc":132.54675873,"usd":8364851.109012075},{"symbol":"eBTC","btc":96.90445216,"usd":6118444.647935187},{"symbol":"CDCBTC","btc":34.23491403,"usd":2159776.2581006233},{"symbol":"feUBTC","btc":27.571475897073398,"usd":1740449.4160027583},{"symbol":"uniBTC","btc":18.26790426,"usd":1151409.7599245505},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":235156.35747186802}],"venues":72,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-04","total_btc":156681.9347557156,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73015.1186216718,"usd":4649505635.890062},{"symbol":"WBTC","btc":56548.54418750628,"usd":3607609799.0857506},{"symbol":"BTCB","btc":6953.731700930227,"usd":442422339.9192909},{"symbol":"LBTC","btc":6490.244773720928,"usd":414085502.0806351},{"symbol":"kBTC","btc":5142.69813293,"usd":328163674.31547505},{"symbol":"SolvBTC","btc":2707.4984741865946,"usd":172068438.1427688},{"symbol":"tBTC","btc":2336.6745089215233,"usd":149005447.20814416},{"symbol":"BTC.b","btc":1566.82547046,"usd":99912356.17685466},{"symbol":"UBTC","btc":459.55840278121764,"usd":29257426.893912412},{"symbol":"vbWBTC","btc":353.68529403,"usd":22537651.631814837},{"symbol":"FBTC","btc":272.32763358,"usd":17361076.7879023},{"symbol":"enzoBTC","btc":269.90001538,"usd":17175240.514417134},{"symbol":"xBTC","btc":251.86896408,"usd":16024581.777889868},{"symbol":"WBTC.e","btc":132.54680521,"usd":8452405.089061256},{"symbol":"eBTC","btc":96.92571436,"usd":6184034.141761786},{"symbol":"CDCBTC","btc":34.22622499999999,"usd":2178769.8639741857},{"symbol":"feUBTC","btc":27.571475897073398,"usd":1758441.895611546},{"symbol":"uniBTC","btc":18.26790426,"usd":1162029.908602136},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":237675.15129001773}],"venues":72,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-05","total_btc":156250.20366896922,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73031.87932069186,"usd":4696223685.792332},{"symbol":"WBTC","btc":56568.668905762876,"usd":3636690774.0950327},{"symbol":"BTCB","btc":6932.153494787106,"usd":443996677.7552788},{"symbol":"LBTC","btc":6088.026052015663,"usd":391127432.71183383},{"symbol":"kBTC","btc":5143.12608659,"usd":330711845.44490296},{"symbol":"SolvBTC","btc":2671.298008127001,"usd":170891283.36365044},{"symbol":"tBTC","btc":2321.00521543646,"usd":149258091.62924176},{"symbol":"BTC.b","btc":1575.82421994,"usd":101285603.37015207},{"symbol":"UBTC","btc":459.5077103712176,"usd":29513034.97999321},{"symbol":"vbWBTC","btc":353.68503487,"usd":22675805.502016377},{"symbol":"FBTC","btc":272.32764392,"usd":17491101.349280924},{"symbol":"enzoBTC","btc":269.90001538,"usd":17327818.715329546},{"symbol":"xBTC","btc":251.8482199,"usd":16184579.324979618},{"symbol":"WBTC.e","btc":132.49693829,"usd":8515542.98287507},{"symbol":"eBTC","btc":96.9276724,"usd":6233674.505015298},{"symbol":"CDCBTC","btc":34.23712867,"usd":2203967.6964925686},{"symbol":"feUBTC","btc":27.571475897073398,"usd":1771267.791861285},{"symbol":"uniBTC","btc":16.00007511,"usd":1028977.4637629489},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":239127.10039179577}],"venues":73,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-06","total_btc":156528.78763993247,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73133.24500039192,"usd":4716903302.378674},{"symbol":"WBTC","btc":56564.97069180642,"usd":3647995452.4028897},{"symbol":"BTCB","btc":6930.210815780241,"usd":446796441.0347686},{"symbol":"LBTC","btc":6072.218017350398,"usd":392198730.9346544},{"symbol":"kBTC","btc":5333.33096125,"usd":343939632.58012795},{"symbol":"SolvBTC","btc":2671.298037951498,"usd":172023333.64704266},{"symbol":"tBTC","btc":2322.9276402100736,"usd":149824931.22525996},{"symbol":"BTC.b","btc":1577.34190205,"usd":101721032.75667527},{"symbol":"UBTC","btc":459.4140047149239,"usd":29642889.136598054},{"symbol":"vbWBTC","btc":353.67903487,"usd":22797795.604183197},{"symbol":"FBTC","btc":272.37411195,"usd":17565060.704174947},{"symbol":"enzoBTC","btc":269.90001538,"usd":17393522.241826877},{"symbol":"xBTC","btc":256.92640275,"usd":16580879.00320068},{"symbol":"WBTC.e","btc":132.49696249,"usd":8544437.635323083},{"symbol":"eBTC","btc":96.92346243,"usd":6253815.702693175},{"symbol":"CDCBTC","btc":34.23857673999999,"usd":2208584.435686924},{"symbol":"feUBTC","btc":27.571475897073398,"usd":1781432.7385780234},{"symbol":"uniBTC","btc":16.00007511,"usd":1031844.1475975898},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":240412.89017268596}],"venues":73,"markets":203,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-07","total_btc":156568.1978211299,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73219.67961467197,"usd":4709655404.004465},{"symbol":"WBTC","btc":56527.7641793281,"usd":3636157225.8443656},{"symbol":"BTCB","btc":6920.962795162037,"usd":444600132.5967568},{"symbol":"LBTC","btc":6065.781205967915,"usd":390366023.3421454},{"symbol":"kBTC","btc":5334.6172038,"usd":343108133.03926545},{"symbol":"SolvBTC","btc":2671.298037954936,"usd":171416785.0768967},{"symbol":"tBTC","btc":2324.185099112945,"usd":149491170.05651864},{"symbol":"BTC.b","btc":1582.73144333,"usd":101787899.04015681},{"symbol":"UBTC","btc":459.7584594049239,"usd":29572990.871751387},{"symbol":"vbWBTC","btc":352.46481083,"usd":22722558.89659899},{"symbol":"FBTC","btc":272.32761949,"usd":17501921.36075791},{"symbol":"enzoBTC","btc":269.90001538,"usd":17379727.9835455},{"symbol":"xBTC","btc":256.92861851,"usd":16509613.760469869},{"symbol":"WBTC.e","btc":132.49700101,"usd":8521643.558985118},{"symbol":"eBTC","btc":95.58933263,"usd":6150421.370163663},{"symbol":"CDCBTC","btc":34.42038273,"usd":2215859.8391387817},{"symbol":"feUBTC","btc":27.571475897073398,"usd":1769999.0924133558},{"symbol":"uniBTC","btc":16.00007511,"usd":1029118.8383921904},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":240436.73572225348}],"venues":72,"markets":202,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-08","total_btc":156571.41308356955,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73142.26562263203,"usd":4741476411.446826},{"symbol":"WBTC","btc":56620.71179500572,"usd":3670831988.986648},{"symbol":"BTCB","btc":6893.317762175721,"usd":447886074.2041583},{"symbol":"LBTC","btc":6218.591234825139,"usd":403382101.4596816},{"symbol":"kBTC","btc":5335.09102867,"usd":345856663.26073694},{"symbol":"SolvBTC","btc":2671.053348155824,"usd":173311666.18326288},{"symbol":"tBTC","btc":2183.897753715176,"usd":141569261.07500163},{"symbol":"BTC.b","btc":1584.50242489,"usd":102742985.62571178},{"symbol":"UBTC","btc":460.52981309287856,"usd":29879193.8441527},{"symbol":"vbWBTC","btc":352.32244346,"usd":22856806.109839037},{"symbol":"FBTC","btc":272.32762703,"usd":17657083.474030018},{"symbol":"enzoBTC","btc":269.90001538,"usd":17511513.16774373},{"symbol":"xBTC","btc":256.90933018,"usd":16674422.613256304},{"symbol":"WBTC.e","btc":132.49703955,"usd":8590871.085693661},{"symbol":"eBTC","btc":95.83054596,"usd":6216861.641096038},{"symbol":"CDCBTC","btc":34.453297029999995,"usd":2236699.888395382},{"symbol":"feUBTC","btc":27.4914758970734,"usd":1783695.2791588625},{"symbol":"uniBTC","btc":16.00007511,"usd":1037150.809876529},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":241957.6831081679}],"venues":73,"markets":203,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-09","total_btc":156607.4899721066,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73152.00138516209,"usd":4745527628.396747},{"symbol":"WBTC","btc":56724.952265508786,"usd":3679634582.392445},{"symbol":"BTCB","btc":6924.533069193816,"usd":448237249.1042881},{"symbol":"LBTC","btc":6225.494432522369,"usd":403753317.00543195},{"symbol":"kBTC","btc":5335.36853056,"usd":346093200.4579399},{"symbol":"SolvBTC","btc":2671.053348155824,"usd":172694519.22154567},{"symbol":"tBTC","btc":2067.923194814592,"usd":134146189.20763801},{"symbol":"BTC.b","btc":1584.27214211,"usd":102731954.31542683},{"symbol":"UBTC","btc":460.59831906200804,"usd":29881293.879969254},{"symbol":"vbWBTC","btc":353.31260262,"usd":22879731.87825186},{"symbol":"FBTC","btc":272.32763458,"usd":17676662.437477063},{"symbol":"enzoBTC","btc":269.90001538,"usd":17523293.09484598},{"symbol":"xBTC","btc":255.92342698,"usd":16627895.845415466},{"symbol":"WBTC.e","btc":132.49707812,"usd":8593961.836329805},{"symbol":"eBTC","btc":95.63632448,"usd":6205185.074469335},{"symbol":"CDCBTC","btc":34.48420104,"usd":2234629.6986962063},{"symbol":"feUBTC","btc":27.4914758970734,"usd":1782125.0026173603},{"symbol":"uniBTC","btc":16.00007511,"usd":1037996.3268186563},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":241519.39669667592}],"venues":73,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-10","total_btc":156756.74122390567,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73189.1384980771,"usd":4758153649.445587},{"symbol":"WBTC","btc":56792.68647615146,"usd":3692087579.8351707},{"symbol":"BTCB","btc":6938.485591699788,"usd":451405012.32669526},{"symbol":"LBTC","btc":6255.7971752896,"usd":406626357.2886248},{"symbol":"kBTC","btc":5336.16108082,"usd":346925498.893241},{"symbol":"SolvBTC","btc":2671.053229635452,"usd":173587198.83269003},{"symbol":"tBTC","btc":2061.136484087504,"usd":133996764.03201602},{"symbol":"BTC.b","btc":1590.64677986,"usd":103430310.78031027},{"symbol":"UBTC","btc":460.404699007714,"usd":29935547.004548028},{"symbol":"vbWBTC","btc":353.31260262,"usd":23007355.761639733},{"symbol":"FBTC","btc":272.32764214,"usd":17693428.506838642},{"symbol":"enzoBTC","btc":269.90001538,"usd":17510423.40331511},{"symbol":"xBTC","btc":255.87782766,"usd":16608121.938878063},{"symbol":"WBTC.e","btc":132.49711675,"usd":8615278.22350528},{"symbol":"eBTC","btc":95.616942,"usd":6220094.404588773},{"symbol":"CDCBTC","btc":34.487060910000004,"usd":2239133.842454436},{"symbol":"feUBTC","btc":27.4914758970734,"usd":1785312.439482466},{"symbol":"uniBTC","btc":16.00007511,"usd":1040219.3353099489},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":242867.42170531856}],"venues":73,"markets":204,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-11","total_btc":156598.37457907636,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":72837.91198692769,"usd":4666291828.396168},{"symbol":"WBTC","btc":56819.8904795419,"usd":3640025620.4258804},{"symbol":"BTCB","btc":6940.9221509619665,"usd":444818725.86432004},{"symbol":"LBTC","btc":6254.68533599683,"usd":400465801.33387697},{"symbol":"kBTC","btc":5524.78542198,"usd":353952251.25201195},{"symbol":"SolvBTC","btc":2621.0592639707297,"usd":167773054.6021891},{"symbol":"tBTC","btc":2096.3345182935577,"usd":134297569.7071137},{"symbol":"BTC.b","btc":1580.6450693,"usd":101268131.81571563},{"symbol":"UBTC","btc":460.7154897166872,"usd":29459427.915190667},{"symbol":"vbWBTC","btc":353.31260262,"usd":22665256.379501026},{"symbol":"FBTC","btc":272.32764968,"usd":17431812.183387157},{"symbol":"enzoBTC","btc":269.90001538,"usd":17254200.00767675},{"symbol":"xBTC","btc":256.02772793,"usd":16362279.00562226},{"symbol":"WBTC.e","btc":132.49715525,"usd":8488557.41227511},{"symbol":"eBTC","btc":95.65040411,"usd":6131334.309694042},{"symbol":"CDCBTC","btc":34.497305600000004,"usd":2210506.996263297},{"symbol":"feUBTC","btc":27.4914758970734,"usd":1756098.2501505301},{"symbol":"uniBTC","btc":16.00007511,"usd":1025079.5264909826},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":239255.2081298375}],"venues":73,"markets":206,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-12","total_btc":156733.96724448443,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":72910.0255908283,"usd":4646026977.425069},{"symbol":"WBTC","btc":56852.533609475264,"usd":3622960531.939515},{"symbol":"BTCB","btc":6930.423820511347,"usd":441409933.986956},{"symbol":"LBTC","btc":6115.590881344061,"usd":389211884.59300965},{"symbol":"kBTC","btc":5725.05754718,"usd":364846641.6999949},{"symbol":"SolvBTC","btc":2621.0592642331476,"usd":166771718.704564},{"symbol":"tBTC","btc":2066.8287848939985,"usd":131692943.92472515},{"symbol":"BTC.b","btc":1586.80246385,"usd":101115181.33592616},{"symbol":"UBTC","btc":460.4702117812309,"usd":29366567.535277124},{"symbol":"vbWBTC","btc":353.16655939,"usd":22537746.383070007},{"symbol":"FBTC","btc":272.32765723,"usd":17338569.47924354},{"symbol":"enzoBTC","btc":269.90001538,"usd":17207366.255713306},{"symbol":"xBTC","btc":259.69209456,"usd":16498381.598048808},{"symbol":"WBTC.e","btc":132.49719385,"usd":8443003.257544335},{"symbol":"eBTC","btc":95.88799343,"usd":6112997.672131096},{"symbol":"CDCBTC","btc":34.49155473,"usd":2199445.2439122684},{"symbol":"feUBTC","btc":27.4914758970734,"usd":1748572.8690983832},{"symbol":"uniBTC","btc":16.00007511,"usd":1019667.7404133033},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":238008.4285691354}],"venues":73,"markets":206,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-13","total_btc":156124.86876886163,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":72283.66009533891,"usd":4594582132.617143},{"symbol":"WBTC","btc":56819.39141565421,"usd":3611445911.363618},{"symbol":"BTCB","btc":6930.771707012485,"usd":440432248.87387484},{"symbol":"LBTC","btc":6115.920393921313,"usd":388546647.72196835},{"symbol":"kBTC","btc":5783.07446711,"usd":367606815.19437975},{"symbol":"SolvBTC","btc":2621.0581000215075,"usd":166392898.41638687},{"symbol":"tBTC","btc":2060.779522704911,"usd":130966244.13173324},{"symbol":"BTC.b","btc":1584.78430677,"usd":100728986.51076895},{"symbol":"UBTC","btc":460.1565389912309,"usd":29199780.21734625},{"symbol":"vbWBTC","btc":353.15536153,"usd":22418350.298178423},{"symbol":"FBTC","btc":272.32766478,"usd":17309572.22947805},{"symbol":"enzoBTC","btc":269.90001538,"usd":17118955.127580408},{"symbol":"xBTC","btc":259.77806233,"usd":16514471.477623291},{"symbol":"WBTC.e","btc":132.49723241,"usd":8420453.563625008},{"symbol":"eBTC","btc":95.90861179,"usd":6099529.350400401},{"symbol":"CDCBTC","btc":34.4932713,"usd":2191469.222248536},{"symbol":"feUBTC","btc":27.4914758970734,"usd":1745174.6864685446},{"symbol":"uniBTC","btc":16.00007511,"usd":1017067.2881609673},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":236752.8485868009}],"venues":73,"markets":206,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-14","total_btc":156234.08621617866,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":72258.45766511951,"usd":4578757247.694126},{"symbol":"WBTC","btc":56946.65831905859,"usd":3608781246.682612},{"symbol":"BTCB","btc":6939.2628573497195,"usd":440513374.86912775},{"symbol":"LBTC","btc":6112.5019610885765,"usd":387567643.03620154},{"symbol":"kBTC","btc":5783.37302926,"usd":366475143.5732227},{"symbol":"SolvBTC","btc":2621.058106346956,"usd":166215700.30906504},{"symbol":"tBTC","btc":2060.562073317026,"usd":130570037.54514496},{"symbol":"BTC.b","btc":1585.85024359,"usd":100519630.73584381},{"symbol":"UBTC","btc":460.5384526812309,"usd":29244121.919637196},{"symbol":"vbWBTC","btc":353.15536153,"usd":22370963.347973216},{"symbol":"FBTC","btc":272.32767233,"usd":17248364.700724933},{"symbol":"enzoBTC","btc":269.90001538,"usd":17134092.470768888},{"symbol":"xBTC","btc":260.39480571,"usd":16549485.619029107},{"symbol":"WBTC.e","btc":132.44634935,"usd":8394812.814722467},{"symbol":"eBTC","btc":95.91058741,"usd":6081644.606950014},{"symbol":"CDCBTC","btc":34.47671484,"usd":2187156.0229439926},{"symbol":"feUBTC","btc":27.4914758970734,"usd":1745248.4625355299},{"symbol":"uniBTC","btc":16.00007511,"usd":1013820.3191540481},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":236252.30344121406}],"venues":73,"markets":206,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-15","total_btc":156827.98267252403,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":72735.73465715011,"usd":4585816256.014067},{"symbol":"WBTC","btc":57048.87153757587,"usd":3596864840.4248867},{"symbol":"BTCB","btc":6930.055237406811,"usd":436900053.47025186},{"symbol":"LBTC","btc":6112.926535225849,"usd":385343883.6546745},{"symbol":"kBTC","btc":5783.57720394,"usd":364659722.4098478},{"symbol":"SolvBTC","btc":2641.0581066150075,"usd":166326342.94155157},{"symbol":"tBTC","btc":2065.161652092091,"usd":130199860.96974678},{"symbol":"BTC.b","btc":1581.76507762,"usd":99742309.66044457},{"symbol":"UBTC","btc":462.6440980212309,"usd":29149909.876051705},{"symbol":"vbWBTC","btc":353.15536153,"usd":22251558.470057935},{"symbol":"FBTC","btc":272.32767986,"usd":17164170.08960224},{"symbol":"enzoBTC","btc":269.90001538,"usd":16992816.941975914},{"symbol":"xBTC","btc":260.61459524,"usd":16390703.431131702},{"symbol":"WBTC.e","btc":132.44711327,"usd":8350967.660885076},{"symbol":"eBTC","btc":96.02718138,"usd":6057897.007275894},{"symbol":"CDCBTC","btc":34.5046184,"usd":2177985.048603914},{"symbol":"feUBTC","btc":27.4914758970734,"usd":1727263.9825607585},{"symbol":"uniBTC","btc":16.00007511,"usd":1008793.2303827927},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":234992.7881926521}],"venues":73,"markets":206,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-16","total_btc":157378.777013938,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73180.03274782072,"usd":4615306629.363547},{"symbol":"WBTC","btc":57071.14591479106,"usd":3599421749.3040757},{"symbol":"BTCB","btc":6930.655856950149,"usd":436991514.5711945},{"symbol":"LBTC","btc":6204.12249014313,"usd":391261056.9914784},{"symbol":"kBTC","btc":5783.91714844,"usd":364778579.0175895},{"symbol":"SolvBTC","btc":2641.0581066150075,"usd":166359873.41849878},{"symbol":"tBTC","btc":2065.113009569585,"usd":130240646.50250064},{"symbol":"BTC.b","btc":1571.83386047,"usd":99136273.66477612},{"symbol":"UBTC","btc":462.9830408912309,"usd":29181545.047343366},{"symbol":"vbWBTC","btc":351.35001834,"usd":22162432.133809645},{"symbol":"FBTC","btc":275.22767742,"usd":17355633.380696177},{"symbol":"enzoBTC","btc":269.90001538,"usd":17003797.523997124},{"symbol":"xBTC","btc":260.61392989,"usd":16430191.769902857},{"symbol":"WBTC.e","btc":132.44724481,"usd":8352871.672334544},{"symbol":"eBTC","btc":96.65754618,"usd":6099100.383358418},{"symbol":"CDCBTC","btc":34.50640441,"usd":2177013.36940391},{"symbol":"feUBTC","btc":27.4914758970734,"usd":1734047.6896917343},{"symbol":"uniBTC","btc":16.00007511,"usd":1009102.1381547187},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":235255.30463715762}],"venues":73,"markets":206,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-17","total_btc":157148.8031280226,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":72957.47597184133,"usd":4618052074.937533},{"symbol":"WBTC","btc":57066.407181147166,"usd":3612243924.1584244},{"symbol":"BTCB","btc":6932.067684000297,"usd":438805770.5318042},{"symbol":"LBTC","btc":6187.163637570416,"usd":391596743.7532818},{"symbol":"kBTC","btc":5798.67050713,"usd":367060049.6016947},{"symbol":"SolvBTC","btc":2641.0583971413694,"usd":167656012.73001507},{"symbol":"tBTC","btc":2065.3593051537528,"usd":130712239.00177447},{"symbol":"BTC.b","btc":1573.11071597,"usd":99579289.2904443},{"symbol":"UBTC","btc":459.4522106712309,"usd":29090521.164217103},{"symbol":"vbWBTC","btc":351.760606,"usd":22304791.3518242},{"symbol":"FBTC","btc":275.22768496,"usd":17429131.31318995},{"symbol":"enzoBTC","btc":269.90001538,"usd":17072703.908911765},{"symbol":"xBTC","btc":260.75663354,"usd":16527422.970747061},{"symbol":"WBTC.e","btc":132.44728119,"usd":8385071.084286941},{"symbol":"eBTC","btc":96.67853319,"usd":6123081.741227371},{"symbol":"CDCBTC","btc":34.05476132,"usd":2156844.477438799},{"symbol":"feUBTC","btc":27.4914758970734,"usd":1739554.7444883613},{"symbol":"uniBTC","btc":16.00007511,"usd":1012812.5632930115},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":236490.68282123504}],"venues":73,"markets":206,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-18","total_btc":157369.36597275562,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73291.24091931194,"usd":4696605962.814566},{"symbol":"WBTC","btc":57091.95850733037,"usd":3658614426.916593},{"symbol":"BTCB","btc":6800.294210181334,"usd":435557283.7496779},{"symbol":"LBTC","btc":6158.039828457707,"usd":394708018.6903596},{"symbol":"kBTC","btc":5798.99138903,"usd":371586672.1708805},{"symbol":"SolvBTC","btc":2641.0584973354134,"usd":169636776.46603596},{"symbol":"tBTC","btc":2089.61596451056,"usd":133893972.27611959},{"symbol":"BTC.b","btc":1577.16307096,"usd":101049844.42927247},{"symbol":"UBTC","btc":461.5921142512309,"usd":29604201.173010934},{"symbol":"vbWBTC","btc":342.75387389,"usd":21939148.47354342},{"symbol":"FBTC","btc":275.2276925,"usd":17627943.55171714},{"symbol":"enzoBTC","btc":269.90001538,"usd":17297629.912789267},{"symbol":"xBTC","btc":261.17036305,"usd":16720385.201120418},{"symbol":"WBTC.e","btc":132.44731754,"usd":8486211.360215724},{"symbol":"eBTC","btc":96.66625288,"usd":6197211.4089667685},{"symbol":"CDCBTC","btc":34.08408069,"usd":2184969.553237875},{"symbol":"feUBTC","btc":27.4413495370734,"usd":1759913.536834424},{"symbol":"uniBTC","btc":16.00007511,"usd":1025282.2034334203},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":238723.74859644478}],"venues":73,"markets":207,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-19","total_btc":158099.72637396888,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73669.57252911254,"usd":4747056422.341969},{"symbol":"WBTC","btc":57199.935073038745,"usd":3685688130.7240877},{"symbol":"BTCB","btc":6816.090958671892,"usd":438407743.9131942},{"symbol":"LBTC","btc":6155.958080794998,"usd":396444121.84761554},{"symbol":"kBTC","btc":6026.3637034,"usd":388325855.38626826},{"symbol":"SolvBTC","btc":2641.0584974919025,"usd":170355979.16951013},{"symbol":"tBTC","btc":2089.1038862376295,"usd":134646875.05934152},{"symbol":"BTC.b","btc":1578.21863001,"usd":101667162.57244787},{"symbol":"UBTC","btc":459.47293283407066,"usd":29551743.0304967},{"symbol":"vbWBTC","btc":343.03835214,"usd":22077310.324066434},{"symbol":"FBTC","btc":275.2277003,"usd":17727287.149362247},{"symbol":"enzoBTC","btc":269.90001538,"usd":17370627.027063202},{"symbol":"xBTC","btc":265.25947151,"usd":17083911.060131},{"symbol":"WBTC.e","btc":132.44735393,"usd":8532774.29039504},{"symbol":"eBTC","btc":96.84776155,"usd":6243031.121710935},{"symbol":"CDCBTC","btc":34.069552110000004,"usd":2192490.659412653},{"symbol":"feUBTC","btc":27.4413495370734,"usd":1764729.670164476},{"symbol":"uniBTC","btc":16.00007511,"usd":1031060.3253666437},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":240028.16863504413}],"venues":72,"markets":206,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-20","total_btc":158374.45830548162,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73968.97462450314,"usd":5112708173.579551},{"symbol":"WBTC","btc":57157.23491008132,"usd":3950224283.041351},{"symbol":"BTCB","btc":6863.260427229137,"usd":473390727.12268823},{"symbol":"LBTC","btc":6140.94554234229,"usd":424203327.139001},{"symbol":"kBTC","btc":6026.17483268,"usd":416539000.234562},{"symbol":"SolvBTC","btc":2641.0584977814583,"usd":182680593.1078116},{"symbol":"tBTC","btc":2089.3545278031356,"usd":144429348.00260273},{"symbol":"BTC.b","btc":1567.26194251,"usd":108302213.982356},{"symbol":"UBTC","btc":456.3050247940707,"usd":31481954.818832617},{"symbol":"vbWBTC","btc":343.05961805,"usd":23724693.532484606},{"symbol":"FBTC","btc":275.22770785,"usd":19028809.16414581},{"symbol":"enzoBTC","btc":269.90001538,"usd":18620445.95042536},{"symbol":"xBTC","btc":265.06255582,"usd":18326753.786964018},{"symbol":"WBTC.e","btc":132.44739036,"usd":9154039.847245261},{"symbol":"eBTC","btc":96.96580228,"usd":6705149.306923353},{"symbol":"CDCBTC","btc":34.06301056,"usd":2349298.731050929},{"symbol":"feUBTC","btc":27.4413495370734,"usd":1891479.110622445},{"symbol":"uniBTC","btc":16.00007511,"usd":1106001.0611778547},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":257922.1104230372}],"venues":73,"markets":206,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-21","total_btc":158202.42714038392,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73921.49735834375,"usd":5508537103.848491},{"symbol":"WBTC","btc":57021.728015501474,"usd":4248438383.024123},{"symbol":"BTCB","btc":6863.082436192323,"usd":511777701.2115435},{"symbol":"LBTC","btc":6140.238157869592,"usd":457318288.8019887},{"symbol":"kBTC","btc":6029.61376375,"usd":449378684.0822199},{"symbol":"SolvBTC","btc":2626.0584990354637,"usd":196385557.77281743},{"symbol":"tBTC","btc":2093.804358560196,"usd":155983926.72689098},{"symbol":"BTC.b","btc":1568.47433451,"usd":116891069.26070596},{"symbol":"UBTC","btc":455.1812837240707,"usd":33875357.177409686},{"symbol":"vbWBTC","btc":338.02781083,"usd":25161388.90583519},{"symbol":"xBTC","btc":289.68755634,"usd":21561110.982034918},{"symbol":"FBTC","btc":275.22771541,"usd":20504986.756940845},{"symbol":"enzoBTC","btc":269.90001538,"usd":20128266.701835148},{"symbol":"WBTC.e","btc":132.44742685,"usd":9870122.005949298},{"symbol":"eBTC","btc":97.20702696,"usd":7248750.387339031},{"symbol":"CDCBTC","btc":34.06857437,"usd":2535912.066355899},{"symbol":"feUBTC","btc":26.462280837073397,"usd":1964532.1500271081},{"symbol":"uniBTC","btc":16.00007511,"usd":1192466.2828649394},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":277612.998116332}],"venues":73,"markets":207,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-22","total_btc":158405.80347879813,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74725.99874833436,"usd":5868140950.469578},{"symbol":"WBTC","btc":56604.650983120904,"usd":4444599712.324983},{"symbol":"BTCB","btc":6863.476739323465,"usd":539288175.0408057},{"symbol":"LBTC","btc":6131.809268066912,"usd":481538369.61085093},{"symbol":"kBTC","btc":5848.77228411,"usd":459313198.18174636},{"symbol":"SolvBTC","btc":2625.901157046286,"usd":206920967.52876663},{"symbol":"tBTC","btc":2105.3250472205978,"usd":165289612.49828342},{"symbol":"BTC.b","btc":1562.464974,"usd":122714301.86271411},{"symbol":"UBTC","btc":456.1410026085416,"usd":35827787.45964201},{"symbol":"vbWBTC","btc":337.93406216,"usd":26523676.43884729},{"symbol":"xBTC","btc":289.21699523,"usd":22719973.21956387},{"symbol":"FBTC","btc":275.22772294,"usd":21591856.621612977},{"symbol":"enzoBTC","btc":269.90001538,"usd":21209369.99568734},{"symbol":"WBTC.e","btc":132.44386145,"usd":10399544.09563632},{"symbol":"eBTC","btc":96.24049208,"usd":7562516.557719928},{"symbol":"CDCBTC","btc":34.11731897,"usd":2678459.8846670375},{"symbol":"feUBTC","btc":26.462280837073397,"usd":2074613.7591853272},{"symbol":"uniBTC","btc":16.00007511,"usd":1256480.4162161327},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":292722.3589140952}],"venues":73,"markets":207,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-23","total_btc":157562.7854231923,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74739.09787376496,"usd":5761531760.272174},{"symbol":"WBTC","btc":55740.54579080929,"usd":4296455451.18754},{"symbol":"BTCB","btc":6887.976961855452,"usd":530402779.9165733},{"symbol":"LBTC","btc":6115.2518822442335,"usd":471948654.93855435},{"symbol":"kBTC","btc":5849.64441451,"usd":450877505.78820616},{"symbol":"SolvBTC","btc":2625.901167273286,"usd":202788937.89505455},{"symbol":"tBTC","btc":2099.766045239522,"usd":161845122.88531283},{"symbol":"BTC.b","btc":1563.86664763,"usd":120534896.41945285},{"symbol":"UBTC","btc":455.4663806585416,"usd":35119240.879358016},{"symbol":"vbWBTC","btc":333.09653457,"usd":25719109.345623564},{"symbol":"xBTC","btc":299.99983235,"usd":23131499.073340043},{"symbol":"FBTC","btc":275.22773316,"usd":21235797.457565084},{"symbol":"enzoBTC","btc":269.90001538,"usd":20826163.512151744},{"symbol":"WBTC.e","btc":132.44389793,"usd":10207457.772028688},{"symbol":"eBTC","btc":94.43199069,"usd":7281716.552529751},{"symbol":"CDCBTC","btc":34.119597279999994,"usd":2627971.9778683595},{"symbol":"feUBTC","btc":26.328131927073397,"usd":2028528.0160325048},{"symbol":"uniBTC","btc":16.00007511,"usd":1233264.2445862587},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":287964.54775361926}],"venues":73,"markets":208,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-24","total_btc":157361.1503722632,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74848.49150034557,"usd":5770463315.1423435},{"symbol":"WBTC","btc":55417.03170450379,"usd":4272414696.0026345},{"symbol":"BTCB","btc":6896.9205216169,"usd":532760382.4603767},{"symbol":"LBTC","btc":6107.2366270915545,"usd":471283105.6162694},{"symbol":"kBTC","btc":5852.19215142,"usd":451123712.46032125},{"symbol":"SolvBTC","btc":2625.9019117643293,"usd":203428877.3179896},{"symbol":"tBTC","btc":2100.3919316738334,"usd":161951018.48893827},{"symbol":"BTC.b","btc":1562.01862407,"usd":120434617.49567145},{"symbol":"UBTC","btc":467.1079376701224,"usd":36137925.2944505},{"symbol":"vbWBTC","btc":333.09644379,"usd":25721838.96243264},{"symbol":"xBTC","btc":298.69983576,"usd":23092151.252288725},{"symbol":"FBTC","btc":275.2277407,"usd":21238270.306522824},{"symbol":"enzoBTC","btc":269.90001538,"usd":20891101.95886483},{"symbol":"WBTC.e","btc":132.44415796,"usd":10211669.949389944},{"symbol":"eBTC","btc":94.50596896,"usd":7290434.084141199},{"symbol":"CDCBTC","btc":33.97680618,"usd":2625275.1998311398},{"symbol":"feUBTC","btc":26.285967457073397,"usd":2030394.7926368406},{"symbol":"uniBTC","btc":16.00007511,"usd":1233349.3103924664},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":287995.1742041499}],"venues":73,"markets":208,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-25","total_btc":157209.89245771457,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74733.45687558617,"usd":6022621059.149218},{"symbol":"WBTC","btc":55445.362770647305,"usd":4467324551.842167},{"symbol":"BTCB","btc":6897.745815948371,"usd":556013078.5866971},{"symbol":"LBTC","btc":6108.396344078875,"usd":492771849.7496883},{"symbol":"kBTC","btc":5804.35309309,"usd":467754486.4496814},{"symbol":"SolvBTC","btc":2625.901911923998,"usd":212292128.18485197},{"symbol":"tBTC","btc":2099.0583735626387,"usd":169111242.04006615},{"symbol":"BTC.b","btc":1551.39581899,"usd":125034215.32337612},{"symbol":"UBTC","btc":467.09819844012236,"usd":37732290.873598605},{"symbol":"vbWBTC","btc":333.07575426,"usd":26932154.79090844},{"symbol":"xBTC","btc":299.98517677,"usd":24242123.26366869},{"symbol":"enzoBTC","btc":269.90001538,"usd":21779735.110957738},{"symbol":"FBTC","btc":267.22754825,"usd":21549407.318574604},{"symbol":"WBTC.e","btc":132.44432517,"usd":10674053.15840074},{"symbol":"eBTC","btc":94.49490665,"usd":7619773.0771195805},{"symbol":"CDCBTC","btc":33.98903559000001,"usd":2745767.558455472},{"symbol":"feUBTC","btc":26.285967457073397,"usd":2119604.917321641},{"symbol":"uniBTC","btc":16.00007511,"usd":1289333.8775458785},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":301567.3958854523}],"venues":73,"markets":209,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-26","total_btc":157662.14920276866,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74891.36842514678,"usd":5915719641.451104},{"symbol":"WBTC","btc":55290.72977473377,"usd":4367079313.290759},{"symbol":"BTCB","btc":6976.2732606094,"usd":551757420.9436508},{"symbol":"kBTC","btc":6190.31013045,"usd":488965113.29295695},{"symbol":"LBTC","btc":6078.699421656196,"usd":480692735.2491763},{"symbol":"SolvBTC","btc":2645.9019875727868,"usd":209865042.61017978},{"symbol":"tBTC","btc":2094.484034424326,"usd":165424455.14859495},{"symbol":"BTC.b","btc":1554.67943214,"usd":122814283.2774182},{"symbol":"UBTC","btc":451.3574885783431,"usd":35607609.64919635},{"symbol":"vbWBTC","btc":333.05046004,"usd":26353987.15126753},{"symbol":"xBTC","btc":310.9894336,"usd":24599706.704746354},{"symbol":"enzoBTC","btc":269.90001538,"usd":21283924.214644223},{"symbol":"FBTC","btc":267.22755579,"usd":21124193.568057958},{"symbol":"WBTC.e","btc":132.44446182,"usd":10460238.063233897},{"symbol":"eBTC","btc":94.62250466,"usd":7478421.215485766},{"symbol":"CDCBTC","btc":33.99853956,"usd":2687158.622387845},{"symbol":"feUBTC","btc":26.285967457073397,"usd":2081819.4279082955},{"symbol":"uniBTC","btc":16.10585834,"usd":1272044.0477252929},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":295115.22309805744}],"venues":73,"markets":209,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-27","total_btc":157612.6783261931,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":75007.97352136738,"usd":5909819197.63829},{"symbol":"WBTC","btc":55195.47361797058,"usd":4348684697.037104},{"symbol":"BTCB","btc":6919.80391314473,"usd":546365724.8491768},{"symbol":"kBTC","btc":6192.47080702,"usd":487966506.0055362},{"symbol":"LBTC","btc":6080.925084583517,"usd":479017523.3884803},{"symbol":"SolvBTC","btc":2645.901989791447,"usd":209506205.18475577},{"symbol":"tBTC","btc":2095.73412845007,"usd":165110888.7813436},{"symbol":"BTC.b","btc":1550.08548022,"usd":122154790.61636609},{"symbol":"UBTC","btc":450.42899798834316,"usd":35465267.51833566},{"symbol":"vbWBTC","btc":320.05046004,"usd":25196040.701821525},{"symbol":"xBTC","btc":309.90184051,"usd":24367677.939490348},{"symbol":"enzoBTC","btc":269.90001538,"usd":21265647.222062014},{"symbol":"FBTC","btc":267.22756333,"usd":21051191.009867895},{"symbol":"WBTC.e","btc":131.69486967,"usd":10377219.606517859},{"symbol":"eBTC","btc":94.98946711,"usd":7491157.071835439},{"symbol":"CDCBTC","btc":34.00429301,"usd":2677311.0917593003},{"symbol":"feUBTC","btc":26.285967457073397,"usd":2068583.269242225},{"symbol":"uniBTC","btc":16.10585834,"usd":1269015.034026355},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":293609.98527251056}],"venues":73,"markets":209,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-28","total_btc":157690.40742444457,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":75083.06740147798,"usd":5999812306.029046},{"symbol":"WBTC","btc":55200.814158086454,"usd":4410999891.086902},{"symbol":"BTCB","btc":6907.1757753719885,"usd":552921308.1049428},{"symbol":"kBTC","btc":6183.78911782,"usd":494159255.0481225},{"symbol":"LBTC","btc":6080.649821740838,"usd":486355718.4145689},{"symbol":"SolvBTC","btc":2645.90098577173,"usd":212412676.9736995},{"symbol":"tBTC","btc":2095.509958050176,"usd":167461043.49385113},{"symbol":"BTC.b","btc":1570.14673419,"usd":125475709.92960207},{"symbol":"UBTC","btc":449.8255829283431,"usd":36014352.26655952},{"symbol":"vbWBTC","btc":320.04736101,"usd":25577438.34065825},{"symbol":"xBTC","btc":309.4740821,"usd":24722541.301452685},{"symbol":"enzoBTC","btc":269.90001538,"usd":21611447.715438142},{"symbol":"FBTC","btc":267.22757089,"usd":21374369.656650655},{"symbol":"WBTC.e","btc":131.69490613,"usd":10522370.656418454},{"symbol":"eBTC","btc":95.06215279,"usd":7601310.268951628},{"symbol":"CDCBTC","btc":34.0095241,"usd":2720962.0515292427},{"symbol":"feUBTC","btc":26.285967457073397,"usd":2099482.109858875},{"symbol":"uniBTC","btc":16.10585834,"usd":1286829.904143352},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":298055.2770368323}],"venues":73,"markets":210,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-29","total_btc":156477.4876867264,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73890.18489068859,"usd":5737672118.281612},{"symbol":"WBTC","btc":55242.685454805425,"usd":4289529842.463499},{"symbol":"BTCB","btc":6884.538828893649,"usd":534667183.99411076},{"symbol":"kBTC","btc":6181.8443627,"usd":480036342.40435165},{"symbol":"LBTC","btc":6069.480001838158,"usd":471420933.826943},{"symbol":"SolvBTC","btc":2645.90098577173,"usd":206077386.93135753},{"symbol":"tBTC","btc":2071.733992596387,"usd":160853266.69795203},{"symbol":"BTC.b","btc":1570.87598154,"usd":121977610.14213964},{"symbol":"UBTC","btc":449.8651152753895,"usd":34993779.01949133},{"symbol":"vbWBTC","btc":320.04678315,"usd":24915993.40472236},{"symbol":"xBTC","btc":306.71769974,"usd":23835033.26446491},{"symbol":"enzoBTC","btc":269.90001538,"usd":20986996.35535006},{"symbol":"FBTC","btc":267.22757844,"usd":20771422.7358601},{"symbol":"WBTC.e","btc":131.69504404,"usd":10225057.438661305},{"symbol":"eBTC","btc":94.62578553,"usd":7351944.548137559},{"symbol":"CDCBTC","btc":34.05288973,"usd":2644622.588989527},{"symbol":"feUBTC","btc":26.285967457073397,"usd":2046735.9775781592},{"symbol":"uniBTC","btc":16.10585834,"usd":1250614.203503409},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":290349.1827683362}],"venues":73,"markets":210,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-30","total_btc":156513.05864163217,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73888.7495637492,"usd":5773320966.425782},{"symbol":"WBTC","btc":55237.98675883465,"usd":4315841060.154542},{"symbol":"BTCB","btc":6925.318509456643,"usd":540814611.8414207},{"symbol":"kBTC","btc":6177.83097326,"usd":482678948.3935095},{"symbol":"LBTC","btc":6069.455128785479,"usd":474371684.275351},{"symbol":"SolvBTC","btc":2645.900881555135,"usd":207217461.10714772},{"symbol":"tBTC","btc":2069.545712368632,"usd":161693570.19323528},{"symbol":"BTC.b","btc":1571.26133122,"usd":122759552.25340196},{"symbol":"UBTC","btc":456.71180562538945,"usd":35633681.81077355},{"symbol":"vbWBTC","btc":320.04678315,"usd":25040552.2237097},{"symbol":"xBTC","btc":306.73249016,"usd":23955753.80331022},{"symbol":"enzoBTC","btc":269.90001538,"usd":21053089.101488236},{"symbol":"FBTC","btc":267.22758598,"usd":20894005.273709007},{"symbol":"WBTC.e","btc":131.69508044,"usd":10288776.754251253},{"symbol":"eBTC","btc":94.54821634,"usd":7390555.964741294},{"symbol":"CDCBTC","btc":34.03552872,"usd":2657494.153796749},{"symbol":"feUBTC","btc":26.285967457073397,"usd":2051919.6665660206},{"symbol":"uniBTC","btc":16.10585834,"usd":1258414.0735033865},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":291799.6594549059}],"venues":72,"markets":209,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-08-31","total_btc":156588.42016688603,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73938.0066264698,"usd":5740573344.244043},{"symbol":"WBTC","btc":55361.568139407085,"usd":4298444558.027172},{"symbol":"BTCB","btc":6844.866479740228,"usd":531838946.4516766},{"symbol":"kBTC","btc":6163.24933577,"usd":478537676.2749622},{"symbol":"LBTC","btc":6068.7368507928,"usd":470864285.0000689},{"symbol":"SolvBTC","btc":2645.90008887579,"usd":206168225.18646058},{"symbol":"tBTC","btc":2067.5405558879015,"usd":160562611.44237483},{"symbol":"BTC.b","btc":1572.30034304,"usd":122083287.7581307},{"symbol":"UBTC","btc":456.8526719253895,"usd":35488595.975597635},{"symbol":"vbWBTC","btc":320.04678315,"usd":24759904.57406672},{"symbol":"xBTC","btc":305.55300242,"usd":23687003.465352632},{"symbol":"enzoBTC","btc":269.90001538,"usd":20956421.71575834},{"symbol":"FBTC","btc":267.50100694,"usd":20746894.497763526},{"symbol":"WBTC.e","btc":131.69511681,"usd":10225244.858395329},{"symbol":"eBTC","btc":94.55357112,"usd":7346054.966657344},{"symbol":"CDCBTC","btc":34.03730255,"usd":2673202.2418181757},{"symbol":"feUBTC","btc":26.285967457073397,"usd":2042441.180748626},{"symbol":"uniBTC","btc":16.10585834,"usd":1250507.9865802722},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":288530.23551302066}],"venues":73,"markets":210,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-01","total_btc":156442.02819390074,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74187.3237519904,"usd":5828175250.059763},{"symbol":"WBTC","btc":55159.621241717985,"usd":4333025101.597158},{"symbol":"BTCB","btc":6804.891710919162,"usd":533624530.0100213},{"symbol":"kBTC","btc":6160.69396481,"usd":483990153.6039845},{"symbol":"LBTC","btc":5916.578772960121,"usd":464084162.0173825},{"symbol":"SolvBTC","btc":2645.900089212269,"usd":208085163.73463318},{"symbol":"tBTC","btc":2067.961094838398,"usd":162462840.83945403},{"symbol":"BTC.b","btc":1572.07968894,"usd":123489379.21973625},{"symbol":"UBTC","btc":458.07708301538946,"usd":35849329.54969136},{"symbol":"vbWBTC","btc":319.77576093,"usd":25038944.241102494},{"symbol":"xBTC","btc":305.07450773,"usd":23892544.038941298},{"symbol":"enzoBTC","btc":269.90001538,"usd":21100646.040983032},{"symbol":"FBTC","btc":267.5010145,"usd":21002441.601778366},{"symbol":"WBTC.e","btc":131.69515332,"usd":10342417.772883628},{"symbol":"eBTC","btc":95.13169395,"usd":7477396.553838902},{"symbol":"CDCBTC","btc":33.75525785,"usd":2648358.4851708664},{"symbol":"feUBTC","btc":26.241082687073398,"usd":2056235.613838726},{"symbol":"uniBTC","btc":16.10585834,"usd":1265462.391157581},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":292025.3471250597}],"venues":73,"markets":210,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-02","total_btc":156839.20704648222,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74632.741978631,"usd":5771473145.838267},{"symbol":"WBTC","btc":55013.0132385258,"usd":4253551011.8030405},{"symbol":"BTCB","btc":6922.035180565422,"usd":536387322.60753995},{"symbol":"kBTC","btc":6160.90909316,"usd":476506015.0050515},{"symbol":"LBTC","btc":5904.073123197441,"usd":456840795.9058252},{"symbol":"SolvBTC","btc":2645.900089488502,"usd":205620030.5073778},{"symbol":"tBTC","btc":2067.026657004031,"usd":159799086.73353472},{"symbol":"BTC.b","btc":1571.95951896,"usd":121615108.50899509},{"symbol":"UBTC","btc":458.20040235293465,"usd":35471397.8916529},{"symbol":"vbWBTC","btc":319.77576739,"usd":24758194.2036081},{"symbol":"xBTC","btc":300.31896508,"usd":23289205.89039317},{"symbol":"enzoBTC","btc":269.90001538,"usd":20906251.87364786},{"symbol":"FBTC","btc":267.50102203,"usd":20676337.9900701},{"symbol":"WBTC.e","btc":131.69518966,"usd":10185213.062396282},{"symbol":"eBTC","btc":95.14631278,"usd":7364577.936655921},{"symbol":"CDCBTC","btc":32.94310044,"usd":2555133.8544255765},{"symbol":"feUBTC","btc":26.241082687073398,"usd":2034960.5181926538},{"symbol":"uniBTC","btc":16.10585834,"usd":1245445.382817303},{"symbol":"yvvbWBTC","btc":3.72045079,"usd":288749.4592928816}],"venues":73,"markets":210,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-03","total_btc":156239.44742893154,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74066.55664937162,"usd":5750458018.989479},{"symbol":"WBTC","btc":54996.106032082826,"usd":4268838896.6113887},{"symbol":"BTCB","btc":6931.198473266613,"usd":538831439.5225778},{"symbol":"kBTC","btc":6154.65115599,"usd":477893485.643286},{"symbol":"LBTC","btc":5936.898548374803,"usd":461105150.85788745},{"symbol":"SolvBTC","btc":2645.899989651448,"usd":206290679.80407688},{"symbol":"tBTC","btc":2066.0497843442417,"usd":160371399.82726878},{"symbol":"BTC.b","btc":1573.142109,"usd":122169193.12196496},{"symbol":"UBTC","btc":451.24937897293466,"usd":35067801.96575682},{"symbol":"vbWBTC","btc":319.77576739,"usd":24803550.746199463},{"symbol":"enzoBTC","btc":269.90001538,"usd":21001572.701057184},{"symbol":"FBTC","btc":267.30102958,"usd":20760079.501678694},{"symbol":"xBTC","btc":255.16571664,"usd":19794404.684130155},{"symbol":"WBTC.e","btc":131.47781122,"usd":10208812.433036236},{"symbol":"eBTC","btc":95.1275981,"usd":7391168.697449488},{"symbol":"CDCBTC","btc":32.93934845,"usd":2564318.127104904},{"symbol":"feUBTC","btc":26.181783967073397,"usd":2030766.7744962191},{"symbol":"uniBTC","btc":16.10585834,"usd":1250436.6963061683},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":289271.89072807267}],"venues":73,"markets":209,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-04","total_btc":156310.07070003264,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":73934.69875606625,"usd":5979389406.855588},{"symbol":"WBTC","btc":55125.58058742808,"usd":4457766742.52222},{"symbol":"BTCB","btc":6962.125563108002,"usd":563368895.1368109},{"symbol":"kBTC","btc":6239.53215186,"usd":504644269.76443493},{"symbol":"LBTC","btc":5936.58835154223,"usd":479988815.5296472},{"symbol":"SolvBTC","btc":2645.8999141325535,"usd":214717041.64794058},{"symbol":"tBTC","btc":2066.0629315555234,"usd":167168369.22812834},{"symbol":"BTC.b","btc":1574.28820982,"usd":127338877.81756116},{"symbol":"UBTC","btc":449.9783733529347,"usd":36373266.188196175},{"symbol":"vbWBTC","btc":319.77570075,"usd":25770424.795488413},{"symbol":"enzoBTC","btc":269.90001538,"usd":21826512.303988375},{"symbol":"FBTC","btc":267.30108291,"usd":21619805.217735182},{"symbol":"xBTC","btc":212.18690079,"usd":17198449.374549713},{"symbol":"WBTC.e","btc":131.47791362,"usd":10632495.583321003},{"symbol":"eBTC","btc":95.77823113,"usd":7750675.050960468},{"symbol":"CDCBTC","btc":32.88799547,"usd":2661216.863698734},{"symbol":"feUBTC","btc":26.181783967073397,"usd":2114135.98632226},{"symbol":"uniBTC","btc":16.10585834,"usd":1302569.3570782624},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":300544.15670336183}],"venues":73,"markets":210,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-05","total_btc":157562.80604613223,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":75138.45116827685,"usd":5974544687.9841},{"symbol":"WBTC","btc":55216.88101022322,"usd":4389910636.301129},{"symbol":"BTCB","btc":6970.060995987637,"usd":554886829.6675597},{"symbol":"kBTC","btc":6249.72559611,"usd":496932023.42869115},{"symbol":"LBTC","btc":5887.624356239642,"usd":468764856.4454806},{"symbol":"SolvBTC","btc":2646.1001216914333,"usd":211260056.70853958},{"symbol":"tBTC","btc":2067.462896173459,"usd":164383658.27101934},{"symbol":"BTC.b","btc":1573.7525150899999,"usd":125134405.05012119},{"symbol":"UBTC","btc":451.90705427293466,"usd":36018936.50488814},{"symbol":"vbWBTC","btc":319.77357176,"usd":25442803.2318055},{"symbol":"enzoBTC","btc":269.90001538,"usd":21508154.982302897},{"symbol":"FBTC","btc":252.30109046,"usd":20070361.589329787},{"symbol":"xBTC","btc":207.03273729,"usd":16520425.711340297},{"symbol":"WBTC.e","btc":131.47795015,"usd":10452281.23059271},{"symbol":"eBTC","btc":101.45895044,"usd":8071453.863376104},{"symbol":"CDCBTC","btc":32.88799547,"usd":2616238.7631468656},{"symbol":"feUBTC","btc":26.181783967073397,"usd":2088206.6008343957},{"symbol":"uniBTC","btc":16.10585834,"usd":1280470.1217428928},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":296729.8989815664}],"venues":73,"markets":209,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-06","total_btc":157645.42462226917,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":75147.54917513745,"usd":6008975286.212364},{"symbol":"WBTC","btc":55276.13620000473,"usd":4420018765.0274315},{"symbol":"BTCB","btc":6988.776259369766,"usd":558803450.6875268},{"symbol":"kBTC","btc":6250.9016308,"usd":499865996.5538224},{"symbol":"LBTC","btc":5887.884597207057,"usd":470309333.29119027},{"symbol":"SolvBTC","btc":2645.8998147127263,"usd":212163083.69672945},{"symbol":"tBTC","btc":2066.846760857429,"usd":165286816.79577985},{"symbol":"BTC.b","btc":1569.38725706,"usd":125490393.489757},{"symbol":"UBTC","btc":450.6513883329347,"usd":36019283.75802529},{"symbol":"vbWBTC","btc":319.77357176,"usd":25546061.63467067},{"symbol":"enzoBTC","btc":269.90001538,"usd":21595722.5123701},{"symbol":"FBTC","btc":252.301098,"usd":20172858.075885486},{"symbol":"xBTC","btc":207.66519907,"usd":16600935.34305475},{"symbol":"WBTC.e","btc":131.47798663,"usd":10512659.424508983},{"symbol":"eBTC","btc":101.37810173,"usd":8110991.36470902},{"symbol":"CDCBTC","btc":32.8875451,"usd":2628054.6669010962},{"symbol":"feUBTC","btc":26.181783967073397,"usd":2090650.886417447},{"symbol":"uniBTC","btc":16.10585834,"usd":1288009.2098104935},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":297937.34991887194}],"venues":73,"markets":210,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-07","total_btc":156812.10499073035,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74322.78976879806,"usd":5927789562.65365},{"symbol":"WBTC","btc":55290.53226549552,"usd":4409686384.03328},{"symbol":"BTCB","btc":7048.2233896442485,"usd":562348488.3196481},{"symbol":"kBTC","btc":6253.62149318,"usd":498732367.69516504},{"symbol":"LBTC","btc":5887.853077034495,"usd":470160148.97021294},{"symbol":"SolvBTC","btc":2645.899815133162,"usd":211699076.796378},{"symbol":"tBTC","btc":2031.8051844448769,"usd":162073383.2055177},{"symbol":"BTC.b","btc":1566.95437806,"usd":124973215.64244643},{"symbol":"UBTC","btc":450.9317733729347,"usd":36023439.26352487},{"symbol":"vbWBTC","btc":319.77357176,"usd":25548056.847872447},{"symbol":"enzoBTC","btc":269.90001538,"usd":21544001.92809437},{"symbol":"FBTC","btc":252.30138712,"usd":20131034.09521155},{"symbol":"xBTC","btc":162.56558726,"usd":12983095.251970818},{"symbol":"WBTC.e","btc":131.47843715,"usd":10483364.791267429},{"symbol":"eBTC","btc":98.64154413,"usd":7870851.699979609},{"symbol":"CDCBTC","btc":32.8875451,"usd":2628814.8342958046},{"symbol":"feUBTC","btc":26.119520517073397,"usd":2085396.2927581829},{"symbol":"uniBTC","btc":16.10585834,"usd":1284383.1697266386},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":297954.8578921835}],"venues":73,"markets":210,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-08","total_btc":156842.09814682585,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74358.78251777866,"usd":5866827554.447549},{"symbol":"WBTC","btc":55404.44850301628,"usd":4371639673.334799},{"symbol":"BTCB","btc":6994.614741982619,"usd":550967375.805317},{"symbol":"kBTC","btc":6253.81789691,"usd":493348337.22392005},{"symbol":"LBTC","btc":5884.327066371933,"usd":464158648.91461223},{"symbol":"SolvBTC","btc":2645.8995846002294,"usd":209007834.24416637},{"symbol":"tBTC","btc":2031.6282590061028,"usd":160311560.65723112},{"symbol":"BTC.b","btc":1554.91133254,"usd":122659444.01879457},{"symbol":"UBTC","btc":450.9768457229347,"usd":35618976.61665955},{"symbol":"vbWBTC","btc":319.77159327,"usd":25145732.92433839},{"symbol":"enzoBTC","btc":269.90001538,"usd":21305677.897624627},{"symbol":"FBTC","btc":252.30139467,"usd":19919203.84735657},{"symbol":"WBTC.e","btc":130.87048167,"usd":10320961.529565088},{"symbol":"xBTC","btc":114.37381022,"usd":9041385.460183606},{"symbol":"eBTC","btc":96.64080092,"usd":7627584.96397294},{"symbol":"CDCBTC","btc":32.8875451,"usd":2596148.855016217},{"symbol":"feUBTC","btc":26.119520517073397,"usd":2063237.7988204397},{"symbol":"uniBTC","btc":16.10585834,"usd":1270746.7539234792},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":293265.7030664581}],"venues":73,"markets":211,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-09","total_btc":156914.9890232523,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74454.49170779927,"usd":5849450830.860831},{"symbol":"WBTC","btc":55455.51181722507,"usd":4356431421.02525},{"symbol":"BTCB","btc":6977.166709611543,"usd":548239440.6696565},{"symbol":"kBTC","btc":6194.38065574,"usd":486605703.71339715},{"symbol":"LBTC","btc":5868.268849269372,"usd":461676455.52395827},{"symbol":"SolvBTC","btc":2645.8995848113564,"usd":208500576.0759363},{"symbol":"tBTC","btc":2032.3595837756989,"usd":159662913.73814127},{"symbol":"BTC.b","btc":1556.86590862,"usd":122302445.26765122},{"symbol":"UBTC","btc":451.3984379029347,"usd":35536580.18429382},{"symbol":"vbWBTC","btc":319.77140006,"usd":25131963.795047957},{"symbol":"FBTC","btc":270.97137023,"usd":21295008.856579043},{"symbol":"enzoBTC","btc":269.90001538,"usd":21250297.235301666},{"symbol":"WBTC.e","btc":130.87057088,"usd":10279815.24712498},{"symbol":"xBTC","btc":113.99551204,"usd":8965950.250569707},{"symbol":"eBTC","btc":96.67098099,"usd":7598904.162007191},{"symbol":"CDCBTC","btc":30.52016125,"usd":2401454.0681239534},{"symbol":"feUBTC","btc":26.119520517073397,"usd":2056716.833028075},{"symbol":"uniBTC","btc":16.10585834,"usd":1265155.9465771846},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":293107.1182604227}],"venues":73,"markets":212,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-10","total_btc":156690.54904511612,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74482.76125390988,"usd":5828739565.434518},{"symbol":"WBTC","btc":55549.91446134561,"usd":4346976896.493523},{"symbol":"BTCB","btc":6976.7760787916595,"usd":546264372.6037877},{"symbol":"kBTC","btc":6194.4267609,"usd":484828154.6267119},{"symbol":"LBTC","btc":5521.051509976811,"usd":431839361.8022043},{"symbol":"SolvBTC","btc":2645.8993872717224,"usd":207762324.3421766},{"symbol":"tBTC","btc":2036.5088358204518,"usd":159381416.5007293},{"symbol":"BTC.b","btc":1556.57045677,"usd":121842516.41789277},{"symbol":"UBTC","btc":451.85802903293467,"usd":35377605.72803858},{"symbol":"vbWBTC","btc":319.77140006,"usd":25067030.055030663},{"symbol":"FBTC","btc":270.97137778,"usd":21196830.728361964},{"symbol":"enzoBTC","btc":269.90001538,"usd":21115806.14775743},{"symbol":"WBTC.e","btc":130.87061915,"usd":10243051.20284759},{"symbol":"xBTC","btc":112.874362,"usd":8822212.388064874},{"symbol":"eBTC","btc":96.67485319,"usd":7571297.52691424},{"symbol":"CDCBTC","btc":27.77388607,"usd":2177568.362963822},{"symbol":"feUBTC","btc":26.119520517073397,"usd":2047887.1694196987},{"symbol":"uniBTC","btc":16.10585834,"usd":1260507.3268365925},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":292351.4408644613}],"venues":73,"markets":210,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-11","total_btc":157058.81985195787,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74601.13682702047,"usd":5728374960.265626},{"symbol":"WBTC","btc":55562.88932071914,"usd":4266015460.933873},{"symbol":"BTCB","btc":6973.09380088931,"usd":535196830.381972},{"symbol":"kBTC","btc":6245.63947736,"usd":479522886.133502},{"symbol":"LBTC","btc":5714.3100486042695,"usd":439064410.6312933},{"symbol":"SolvBTC","btc":2645.8993872717224,"usd":203659267.50149158},{"symbol":"tBTC","btc":2036.5361970330353,"usd":156365662.87530506},{"symbol":"BTC.b","btc":1557.70570999,"usd":119595050.12998612},{"symbol":"UBTC","btc":450.37778061293466,"usd":34583806.66002173},{"symbol":"vbWBTC","btc":319.77079332,"usd":24511137.709248852},{"symbol":"FBTC","btc":270.56289225,"usd":20765197.364904836},{"symbol":"enzoBTC","btc":269.90001538,"usd":20714068.38214182},{"symbol":"WBTC.e","btc":130.87066157,"usd":10048095.199311867},{"symbol":"xBTC","btc":109.91954824,"usd":8431912.797640985},{"symbol":"eBTC","btc":96.78482421,"usd":7435717.102720723},{"symbol":"CDCBTC","btc":27.47680982,"usd":2111705.533264948},{"symbol":"feUBTC","btc":26.119520517073397,"usd":2003593.7615658771},{"symbol":"uniBTC","btc":16.10585834,"usd":1236605.037943113},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":285871.18620745285}],"venues":72,"markets":210,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-12","total_btc":157733.37010036028,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74860.46168918107,"usd":5785014610.465911},{"symbol":"WBTC","btc":55671.81029540074,"usd":4302065586.689517},{"symbol":"BTCB","btc":6973.652012822707,"usd":538618670.1957928},{"symbol":"kBTC","btc":6551.91509326,"usd":506293118.5781827},{"symbol":"LBTC","btc":5715.161981311739,"usd":441655063.06058055},{"symbol":"SolvBTC","btc":2645.8993872717224,"usd":204944165.71895742},{"symbol":"tBTC","btc":2031.3513948923323,"usd":156960921.44068038},{"symbol":"BTC.b","btc":1560.91951771,"usd":120618069.12251072},{"symbol":"UBTC","btc":451.0405023229347,"usd":34856179.415552646},{"symbol":"vbWBTC","btc":319.77079332,"usd":24640007.281359535},{"symbol":"FBTC","btc":270.56289979,"usd":20882730.250711676},{"symbol":"enzoBTC","btc":269.90001538,"usd":20866423.136259235},{"symbol":"WBTC.e","btc":130.87070649,"usd":10112191.871933797},{"symbol":"xBTC","btc":109.93080656,"usd":8497156.83711143},{"symbol":"eBTC","btc":96.70451043,"usd":7476916.984390116},{"symbol":"CDCBTC","btc":27.47273655,"usd":2122364.67170538},{"symbol":"feUBTC","btc":26.119520517073397,"usd":2018992.033257528},{"symbol":"uniBTC","btc":16.10585834,"usd":1244635.3652276795},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":287382.88633349823}],"venues":73,"markets":211,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-13","total_btc":157742.57475980232,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":74942.50076457168,"usd":5786915221.040922},{"symbol":"WBTC","btc":55624.71715330448,"usd":4295202382.312196},{"symbol":"BTCB","btc":6957.34253464219,"usd":537558581.3077037},{"symbol":"kBTC","btc":6552.20867935,"usd":505954021.51169175},{"symbol":"LBTC","btc":5719.355737499207,"usd":441788009.711056},{"symbol":"SolvBTC","btc":2645.8993872717224,"usd":205021409.12780187},{"symbol":"tBTC","btc":2031.4516434430584,"usd":156864331.1004095},{"symbol":"BTC.b","btc":1562.02743228,"usd":120618918.48467572},{"symbol":"UBTC","btc":450.74510784293466,"usd":34823731.66835474},{"symbol":"vbWBTC","btc":319.77358235,"usd":24752296.03240052},{"symbol":"FBTC","btc":270.5629075,"usd":20909922.33363652},{"symbol":"enzoBTC","btc":269.90001538,"usd":20854149.957564626},{"symbol":"WBTC.e","btc":130.76659473,"usd":10097021.567917923},{"symbol":"eBTC","btc":96.86281653,"usd":7484169.510189663},{"symbol":"xBTC","btc":95.05684017,"usd":7336135.214011971},{"symbol":"CDCBTC","btc":27.45780527,"usd":2121912.8050110657},{"symbol":"feUBTC","btc":26.119520517073397,"usd":2017476.3875334312},{"symbol":"uniBTC","btc":16.10585834,"usd":1243608.9347453613},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":288684.9400779728}],"venues":73,"markets":211,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-14","total_btc":157794.40470973117,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":75038.17223685043,"usd":5821834570.802476},{"symbol":"WBTC","btc":55638.55467939316,"usd":4316126418.463493},{"symbol":"BTCB","btc":6926.753968906291,"usd":538639727.6927623},{"symbol":"kBTC","btc":6552.73648155,"usd":508437447.3059409},{"symbol":"LBTC","btc":5716.812929686676,"usd":444029673.8027801},{"symbol":"SolvBTC","btc":2645.899388643352,"usd":206338910.2234112},{"symbol":"tBTC","btc":2039.7883449812443,"usd":158216197.41762844},{"symbol":"BTC.b","btc":1564.011528,"usd":121388442.55644533},{"symbol":"UBTC","btc":451.39122080293464,"usd":35081738.652243964},{"symbol":"vbWBTC","btc":299.77409011,"usd":23225167.775578685},{"symbol":"FBTC","btc":270.56291505,"usd":20993095.417095684},{"symbol":"enzoBTC","btc":269.90001538,"usd":20995667.848193713},{"symbol":"WBTC.e","btc":130.76663128,"usd":10147858.513533438},{"symbol":"eBTC","btc":96.90719481,"usd":7524553.650567058},{"symbol":"xBTC","btc":95.07537969,"usd":7370362.736538776},{"symbol":"CDCBTC","btc":27.45780527,"usd":2136662.5577478427},{"symbol":"feUBTC","btc":26.119520517073397,"usd":2024628.9377373368},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":288947.48205417953}],"venues":73,"markets":210,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-15","total_btc":158470.71214256942,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":75453.97319862102,"usd":5869052838.4280405},{"symbol":"WBTC","btc":55711.41106434054,"usd":4333768013.95522},{"symbol":"BTCB","btc":6939.865105708245,"usd":539990610.40123},{"symbol":"kBTC","btc":6780.92848711,"usd":527428941.74403036},{"symbol":"LBTC","btc":5693.492862874145,"usd":442945072.2553803},{"symbol":"SolvBTC","btc":2645.8993890701668,"usd":206465955.39335427},{"symbol":"tBTC","btc":2038.0208899252975,"usd":158558511.73856872},{"symbol":"BTC.b","btc":1564.52698123,"usd":121687046.06800416},{"symbol":"UBTC","btc":447.10042819293466,"usd":34768082.89521072},{"symbol":"vbWBTC","btc":274.77792892,"usd":21430007.02991065},{"symbol":"FBTC","btc":270.56292261,"usd":21068899.46627149},{"symbol":"enzoBTC","btc":269.90001538,"usd":20984745.78585875},{"symbol":"WBTC.e","btc":130.76668675,"usd":10170041.649151558},{"symbol":"eBTC","btc":97.11291101,"usd":7557557.395390459},{"symbol":"xBTC","btc":95.07556623,"usd":7409246.482349199},{"symbol":"CDCBTC","btc":27.45780527,"usd":2135776.7906681336},{"symbol":"feUBTC","btc":26.119520517073397,"usd":2037560.3192583101},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":290867.0939559532}],"venues":73,"markets":211,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-16","total_btc":158952.8459643911,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":75869.88455061162,"usd":5746899745.3426285},{"symbol":"WBTC","btc":55801.005619930926,"usd":4226161469.0093684},{"symbol":"BTCB","btc":6915.468637653173,"usd":525473386.9751529},{"symbol":"kBTC","btc":6781.46293162,"usd":513688899.15698284},{"symbol":"LBTC","btc":5685.922792071614,"usd":431271613.81962854},{"symbol":"SolvBTC","btc":2645.8993892240837,"usd":201628215.29089412},{"symbol":"tBTC","btc":2041.6463006796885,"usd":154632305.58850947},{"symbol":"BTC.b","btc":1569.65809193,"usd":118941846.02769618},{"symbol":"UBTC","btc":446.57146537293465,"usd":33880029.02735486},{"symbol":"vbWBTC","btc":274.77790009,"usd":20848426.81263507},{"symbol":"FBTC","btc":270.56293014,"usd":20516249.05737225},{"symbol":"enzoBTC","btc":269.90001538,"usd":20468879.817016184},{"symbol":"WBTC.e","btc":130.7667232,"usd":9905781.883297464},{"symbol":"eBTC","btc":97.16940845,"usd":7366297.062899449},{"symbol":"xBTC","btc":94.87358856,"usd":7212742.749348632},{"symbol":"CDCBTC","btc":27.43572015,"usd":2085813.2020127985},{"symbol":"feUBTC","btc":26.119520517073397,"usd":1984896.4197199699},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":282969.1294144605}],"venues":73,"markets":211,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-17","total_btc":159809.3551586091,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76427.94210073222,"usd":5836561671.813369},{"symbol":"WBTC","btc":56111.8692579038,"usd":4284906574.5161033},{"symbol":"BTCB","btc":6910.893952377051,"usd":528028760.2773351},{"symbol":"kBTC","btc":6781.69014635,"usd":517940420.1832778},{"symbol":"LBTC","btc":5675.844365769083,"usd":433331578.0420539},{"symbol":"SolvBTC","btc":2645.8993892240837,"usd":202737797.89355418},{"symbol":"tBTC","btc":2041.7533898728532,"usd":155914230.10780722},{"symbol":"BTC.b","btc":1567.06110657,"usd":119673393.8781659},{"symbol":"UBTC","btc":445.53335325293466,"usd":34005831.418567106},{"symbol":"FBTC","btc":276.11193771,"usd":21062180.248861533},{"symbol":"vbWBTC","btc":274.77790009,"usd":20982522.089902256},{"symbol":"enzoBTC","btc":269.90001538,"usd":20588724.693604115},{"symbol":"WBTC.e","btc":130.76535702,"usd":9987349.558111995},{"symbol":"eBTC","btc":97.15253872,"usd":7424707.693696857},{"symbol":"xBTC","btc":94.88912341,"usd":7245227.726219215},{"symbol":"CDCBTC","btc":27.431324899999996,"usd":2096311.735931805},{"symbol":"feUBTC","btc":26.119520517073397,"usd":1993602.2142793213},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":284791.420873519}],"venues":73,"markets":210,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-18","total_btc":160733.73679634446,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":77014.14779122281,"usd":5947503974.490406},{"symbol":"WBTC","btc":55933.51486695044,"usd":4318186815.142091},{"symbol":"kBTC","btc":7411.30357306,"usd":572339044.7917104},{"symbol":"BTCB","btc":6931.496430223582,"usd":536038790.92805403},{"symbol":"LBTC","btc":5668.605785816552,"usd":438255351.2712345},{"symbol":"SolvBTC","btc":2645.8993890852244,"usd":205208532.08670086},{"symbol":"tBTC","btc":2037.1086203558355,"usd":157243208.5556493},{"symbol":"BTC.b","btc":1567.79658004,"usd":121094555.51787177},{"symbol":"UBTC","btc":446.45899829293467,"usd":34501143.16378118},{"symbol":"FBTC","btc":276.11194524,"usd":21338027.4443461},{"symbol":"enzoBTC","btc":269.90001538,"usd":20870830.551014837},{"symbol":"vbWBTC","btc":148.63924908,"usd":11469288.709083252},{"symbol":"WBTC.e","btc":130.76545846,"usd":10098707.870048676},{"symbol":"xBTC","btc":97.85926046,"usd":7546393.533395547},{"symbol":"eBTC","btc":97.12762365,"usd":7505351.146476892},{"symbol":"CDCBTC","btc":27.1613097,"usd":2098748.6596603086},{"symbol":"feUBTC","btc":26.119520517073397,"usd":2016011.7349058816},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":287776.7416063069}],"venues":73,"markets":211,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-19","total_btc":160853.79978119012,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":77261.47939859342,"usd":6275926086.0702715},{"symbol":"WBTC","btc":55939.299106811246,"usd":4543427899.575624},{"symbol":"kBTC","btc":7410.88535576,"usd":601891128.5904809},{"symbol":"BTCB","btc":6884.235139414225,"usd":558827288.2173802},{"symbol":"LBTC","btc":5565.890980454021,"usd":452477373.5791138},{"symbol":"SolvBTC","btc":2645.8993890852244,"usd":215396909.526781},{"symbol":"tBTC","btc":2029.826968962013,"usd":164841899.66415653},{"symbol":"BTC.b","btc":1564.27419624,"usd":127045782.60807791},{"symbol":"UBTC","btc":473.45269315293467,"usd":38482263.01833826},{"symbol":"FBTC","btc":276.1119528,"usd":22408968.627127234},{"symbol":"enzoBTC","btc":269.90001538,"usd":21936747.336089868},{"symbol":"vbWBTC","btc":148.54800341,"usd":12033604.107575387},{"symbol":"WBTC.e","btc":130.765557,"usd":10619563.213773191},{"symbol":"eBTC","btc":100.45286902,"usd":8162960.571861744},{"symbol":"xBTC","btc":97.80300433,"usd":7930891.770239936},{"symbol":"CDCBTC","btc":27.13525145,"usd":2203283.2125458247},{"symbol":"feUBTC","btc":24.119520517073397,"usd":1960652.2611011346},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":302117.5189263041}],"venues":73,"markets":211,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-20","total_btc":160993.6523294147,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":77308.75295772006,"usd":6214239529.358876},{"symbol":"WBTC","btc":55975.01716661804,"usd":4499387198.095855},{"symbol":"kBTC","btc":7412.5102121,"usd":595922424.6642188},{"symbol":"BTCB","btc":6966.0754259692885,"usd":560252162.9720367},{"symbol":"LBTC","btc":5562.39314965149,"usd":447001462.05935574},{"symbol":"SolvBTC","btc":2645.8992893564723,"usd":213408750.31588486},{"symbol":"tBTC","btc":2029.626427099378,"usd":163203334.06156734},{"symbol":"BTC.b","btc":1563.493189,"usd":125713269.66247255},{"symbol":"UBTC","btc":458.55494632293465,"usd":36890964.136423126},{"symbol":"FBTC","btc":276.13725035,"usd":22184341.011130463},{"symbol":"enzoBTC","btc":269.90001538,"usd":21723873.62219463},{"symbol":"vbWBTC","btc":148.54800341,"usd":11909136.68078406},{"symbol":"WBTC.e","btc":130.76559353,"usd":10513083.93884813},{"symbol":"eBTC","btc":97.12353028,"usd":7812152.822186767},{"symbol":"xBTC","btc":94.88425845,"usd":7612833.673812843},{"symbol":"CDCBTC","btc":27.13101485,"usd":2179442.014555925},{"symbol":"feUBTC","btc":23.119520517073397,"usd":1853916.5450512322},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":298995.9893092209}],"venues":73,"markets":212,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-21","total_btc":161001.731828566,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":77337.21522879996,"usd":6286200979.522318},{"symbol":"WBTC","btc":56039.59327307845,"usd":4554818359.134909},{"symbol":"kBTC","btc":7412.66665472,"usd":602661388.7940047},{"symbol":"BTCB","btc":6898.295832142632,"usd":561604254.229788},{"symbol":"LBTC","btc":5561.032195788958,"usd":452076343.6701211},{"symbol":"SolvBTC","btc":2645.899289591527,"usd":216028119.18593702},{"symbol":"tBTC","btc":2022.904771944471,"usd":164474456.5029179},{"symbol":"BTC.b","btc":1561.726066,"usd":126984318.1326316},{"symbol":"UBTC","btc":452.32590409293465,"usd":36761622.751912355},{"symbol":"FBTC","btc":276.17471582,"usd":22463082.493513897},{"symbol":"enzoBTC","btc":269.90001538,"usd":21949823.877448704},{"symbol":"vbWBTC","btc":148.10142096,"usd":12057692.019737137},{"symbol":"WBTC.e","btc":130.76562271,"usd":10629341.835485851},{"symbol":"eBTC","btc":96.85731426,"usd":7878714.256180477},{"symbol":"xBTC","btc":94.3026091,"usd":7677780.829581422},{"symbol":"CDCBTC","btc":27.13101485,"usd":2207619.895352885},{"symbol":"feUBTC","btc":23.119520517073397,"usd":1883693.215429182},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":303638.2940024627}],"venues":73,"markets":212,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-22","total_btc":160521.24946326434,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76970.65468973864,"usd":6582646320.675391},{"symbol":"WBTC","btc":55981.64530925468,"usd":4787991215.299308},{"symbol":"kBTC","btc":7410.00968374,"usd":633570417.4778836},{"symbol":"BTCB","btc":6841.132375670202,"usd":584298563.4518315},{"symbol":"LBTC","btc":5563.599135736427,"usd":475687193.3884354},{"symbol":"SolvBTC","btc":2645.899259131168,"usd":226628042.64572376},{"symbol":"tBTC","btc":2016.7901400620358,"usd":172570913.52083707},{"symbol":"BTC.b","btc":1558.26599537,"usd":133219528.70652796},{"symbol":"UBTC","btc":448.98641108411346,"usd":38416009.42405196},{"symbol":"FBTC","btc":276.17468877,"usd":23608595.59103439},{"symbol":"enzoBTC","btc":269.90001538,"usd":23092030.052822877},{"symbol":"vbWBTC","btc":148.07005529,"usd":12643079.996686373},{"symbol":"WBTC.e","btc":130.76576006,"usd":11180212.776906341},{"symbol":"eBTC","btc":95.23684274,"usd":8147249.408512309},{"symbol":"xBTC","btc":94.1479831,"usd":8048033.352455842},{"symbol":"CDCBTC","btc":27.12543734,"usd":2323963.5554372356},{"symbol":"feUBTC","btc":23.119520517073397,"usd":1971790.4533175256},{"symbol":"uniBTC","btc":16.00578147,"usd":1368862.7860951002},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":318445.35634685477}],"venues":72,"markets":213,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-23","total_btc":160641.98454670873,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76975.16149052873,"usd":6663106604.519777},{"symbol":"WBTC","btc":56113.84664143228,"usd":4856925309.465625},{"symbol":"kBTC","btc":7410.21067316,"usd":641692663.4779878},{"symbol":"BTCB","btc":6844.285645660739,"usd":594000451.5184774},{"symbol":"LBTC","btc":5541.864192773941,"usd":479552893.39283735},{"symbol":"SolvBTC","btc":2645.898759734835,"usd":230300661.8649131},{"symbol":"tBTC","btc":2021.9072392969767,"usd":174927194.01984283},{"symbol":"BTC.b","btc":1558.24036118,"usd":134946758.52077904},{"symbol":"UBTC","btc":446.62384624411345,"usd":38637996.906040594},{"symbol":"FBTC","btc":276.16934455,"usd":23922446.321597375},{"symbol":"enzoBTC","btc":269.90001538,"usd":23356523.59204966},{"symbol":"vbWBTC","btc":148.03177882,"usd":12822305.84560007},{"symbol":"WBTC.e","btc":130.7657829,"usd":11322940.19299318},{"symbol":"eBTC","btc":95.21091539,"usd":8250253.588066609},{"symbol":"xBTC","btc":94.00146161,"usd":8159044.863363171},{"symbol":"CDCBTC","btc":27.02071725,"usd":2338511.706956124},{"symbol":"feUBTC","btc":23.119520517073397,"usd":1998997.7398708032},{"symbol":"uniBTC","btc":16.00578147,"usd":1385638.4166665475},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":323041.1402065763}],"venues":73,"markets":214,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-24","total_btc":161755.87739056823,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":78046.94635777669,"usd":6571473901.493797},{"symbol":"WBTC","btc":56161.899925048645,"usd":4728572387.325066},{"symbol":"kBTC","btc":7413.706566,"usd":624005206.0616269},{"symbol":"BTCB","btc":6881.444711666486,"usd":578447593.4668881},{"symbol":"LBTC","btc":5497.525223756486,"usd":463213410.1073489},{"symbol":"SolvBTC","btc":2645.898759734835,"usd":223043122.64828572},{"symbol":"tBTC","btc":2013.6359120738023,"usd":169529720.790604},{"symbol":"BTC.b","btc":1559.73269803,"usd":131270833.4748351},{"symbol":"UBTC","btc":444.75495933411344,"usd":37481926.34983939},{"symbol":"FBTC","btc":283.5065337,"usd":23854236.808703423},{"symbol":"enzoBTC","btc":269.90001538,"usd":22755913.778809465},{"symbol":"vbWBTC","btc":147.93827105,"usd":12496162.188482678},{"symbol":"WBTC.e","btc":130.76580570000002,"usd":11006721.374454737},{"symbol":"eBTC","btc":95.2204058,"usd":8019733.142854748},{"symbol":"xBTC","btc":94.1441466,"usd":7929584.477122392},{"symbol":"CDCBTC","btc":27.01141812,"usd":2279167.920174098},{"symbol":"feUBTC","btc":22.119520517073397,"usd":1862082.958951987},{"symbol":"uniBTC","btc":16.00578147,"usd":1347413.9751174462},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":315029.7106208576}],"venues":73,"markets":215,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-25","total_btc":160188.52355039315,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76466.77236152497,"usd":6450323142.2156105},{"symbol":"WBTC","btc":56119.914563792816,"usd":4733692136.713736},{"symbol":"kBTC","btc":7480.27590493,"usd":630791076.0456895},{"symbol":"BTCB","btc":6877.460252380289,"usd":579181764.2285502},{"symbol":"LBTC","btc":5496.856384866488,"usd":463853003.75241953},{"symbol":"SolvBTC","btc":2645.8986555592232,"usd":223456915.42446607},{"symbol":"tBTC","btc":2023.425920548191,"usd":170675251.96117276},{"symbol":"BTC.b","btc":1560.77928811,"usd":131596732.32728252},{"symbol":"UBTC","btc":443.0352386441134,"usd":37356505.21314528},{"symbol":"FBTC","btc":283.50653748,"usd":23913474.86077388},{"symbol":"enzoBTC","btc":269.90001538,"usd":22760668.2969954},{"symbol":"vbWBTC","btc":147.93827105,"usd":12511694.89953962},{"symbol":"WBTC.e","btc":130.62040798,"usd":11014896.558000142},{"symbol":"eBTC","btc":95.26863912,"usd":8038385.364394715},{"symbol":"xBTC","btc":94.13495869,"usd":7924757.145415172},{"symbol":"CDCBTC","btc":26.896251010000004,"usd":2264683.2575282296},{"symbol":"feUBTC","btc":22.119520517073397,"usd":1870098.211679165},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":315420.69649816974}],"venues":73,"markets":214,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-26","total_btc":160002.1365646384,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76279.43605717995,"usd":6401491482.017993},{"symbol":"WBTC","btc":56121.601057147964,"usd":4709612092.953384},{"symbol":"kBTC","btc":7542.42585288,"usd":632962781.8214173},{"symbol":"BTCB","btc":6821.73573156582,"usd":572628370.1801285},{"symbol":"LBTC","btc":5492.66230108649,"usd":461127156.6086848},{"symbol":"SolvBTC","btc":2645.8985477130336,"usd":222737753.38974956},{"symbol":"tBTC","btc":2023.3855156532488,"usd":169805857.2013551},{"symbol":"BTC.b","btc":1558.38971841,"usd":130776303.0220923},{"symbol":"UBTC","btc":443.0144143648121,"usd":37194936.59970087},{"symbol":"FBTC","btc":283.50654126,"usd":23778915.130803075},{"symbol":"enzoBTC","btc":269.90001538,"usd":22685482.974754203},{"symbol":"vbWBTC","btc":147.93827105,"usd":12414299.275311098},{"symbol":"WBTC.e","btc":130.62050578,"usd":10961178.926414657},{"symbol":"eBTC","btc":95.45000253,"usd":8015335.825292149},{"symbol":"xBTC","btc":93.4358823,"usd":7823831.179778748},{"symbol":"CDCBTC","btc":26.896251010000004,"usd":2260082.11793116},{"symbol":"feUBTC","btc":22.119520517073397,"usd":1859404.4945409885},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":312962.96431752405}],"venues":73,"markets":212,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-27","total_btc":159984.72531384596,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76308.3319873662,"usd":6441066595.496392},{"symbol":"WBTC","btc":56140.31032752444,"usd":4738346200.269167},{"symbol":"kBTC","btc":7541.70347526,"usd":636597332.9351276},{"symbol":"BTCB","btc":6822.769096619719,"usd":575749116.5929816},{"symbol":"LBTC","btc":5428.678421116491,"usd":458445046.7164638},{"symbol":"SolvBTC","btc":2645.8985480797537,"usd":223924146.90062833},{"symbol":"tBTC","btc":2024.9550524475112,"usd":170911690.49032703},{"symbol":"BTC.b","btc":1556.62521479,"usd":131402935.53166085},{"symbol":"UBTC","btc":442.9595780148121,"usd":37412011.98615499},{"symbol":"FBTC","btc":283.50654507,"usd":23911271.794778056},{"symbol":"enzoBTC","btc":269.90001538,"usd":22783271.299851652},{"symbol":"vbWBTC","btc":147.93827105,"usd":12502405.694403058},{"symbol":"WBTC.e","btc":130.62052864,"usd":11024970.781901332},{"symbol":"eBTC","btc":94.41274783,"usd":7974510.911454515},{"symbol":"xBTC","btc":93.43120862,"usd":7863160.42688867},{"symbol":"CDCBTC","btc":26.896251010000004,"usd":2270044.0475034113},{"symbol":"feUBTC","btc":22.0676662170734,"usd":1861379.9727255225},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":315183.8752081765}],"venues":73,"markets":213,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-28","total_btc":159924.85831490357,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76305.80461279604,"usd":6372782589.506645},{"symbol":"WBTC","btc":56106.8118391193,"usd":4686244033.963761},{"symbol":"kBTC","btc":7533.30868961,"usd":629068377.8796877},{"symbol":"BTCB","btc":6806.817363706191,"usd":567830638.2927392},{"symbol":"LBTC","btc":5430.046931686494,"usd":453336405.47192395},{"symbol":"SolvBTC","btc":2645.8985480797537,"usd":221357025.243693},{"symbol":"tBTC","btc":2025.0564246239164,"usd":169179567.51463363},{"symbol":"BTC.b","btc":1554.44838651,"usd":129776096.66040035},{"symbol":"UBTC","btc":443.2752379848121,"usd":37068476.61728996},{"symbol":"FBTC","btc":283.50670693,"usd":23662205.831097562},{"symbol":"enzoBTC","btc":269.90001538,"usd":22609943.264432676},{"symbol":"vbWBTC","btc":147.87522829,"usd":12350059.29723555},{"symbol":"WBTC.e","btc":130.62055152,"usd":10906502.72904568},{"symbol":"eBTC","btc":95.92940051,"usd":8015363.791686013},{"symbol":"xBTC","btc":93.38340465,"usd":7800347.810997507},{"symbol":"CDCBTC","btc":26.88692848,"usd":2243298.812467542},{"symbol":"feUBTC","btc":21.5676662170734,"usd":1799688.4214125013},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":311473.97488933}],"venues":73,"markets":212,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-29","total_btc":159763.74892424108,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76131.89381426659,"usd":6318099594.23469},{"symbol":"WBTC","btc":56151.31488890179,"usd":4659648002.980575},{"symbol":"kBTC","btc":7423.10091966,"usd":616106507.0096998},{"symbol":"BTCB","btc":6903.126192353756,"usd":573618486.7347914},{"symbol":"LBTC","btc":5427.054184416495,"usd":450466220.4561933},{"symbol":"SolvBTC","btc":2645.8985480797537,"usd":220497520.6624532},{"symbol":"tBTC","btc":2022.4674442877233,"usd":167828208.6346025},{"symbol":"BTC.b","btc":1548.83579027,"usd":128561802.41851619},{"symbol":"UBTC","btc":437.1089478879322,"usd":36203600.6699002},{"symbol":"FBTC","btc":283.42799546,"usd":23504259.669390637},{"symbol":"enzoBTC","btc":269.90001538,"usd":22340925.600002248},{"symbol":"vbWBTC","btc":147.87522829,"usd":12248254.693375137},{"symbol":"WBTC.e","btc":130.61884812,"usd":10840754.472248493},{"symbol":"eBTC","btc":95.86196227,"usd":7961527.261096931},{"symbol":"xBTC","btc":93.09193768,"usd":7729189.516044779},{"symbol":"CDCBTC","btc":26.884161889999998,"usd":2229829.3166895057},{"symbol":"feUBTC","btc":21.5676662170734,"usd":1789850.9861807122},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":308908.2474792184}],"venues":73,"markets":212,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-09-30","total_btc":160145.259364555,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76461.80367540925,"usd":6375239757.979081},{"symbol":"WBTC","btc":56301.95647598678,"usd":4694469580.184593},{"symbol":"kBTC","btc":7399.79221068,"usd":616856866.4772342},{"symbol":"BTCB","btc":6753.878328186068,"usd":562271642.1509932},{"symbol":"LBTC","btc":5455.419808933071,"usd":454613368.12033045},{"symbol":"SolvBTC","btc":2645.8985487843233,"usd":220912072.42950794},{"symbol":"tBTC","btc":2022.2478737397416,"usd":168631064.6343676},{"symbol":"BTC.b","btc":1544.09430568,"usd":128697087.87825441},{"symbol":"UBTC","btc":436.0720516434343,"usd":36377796.50920017},{"symbol":"FBTC","btc":283.4279993,"usd":23610806.826914757},{"symbol":"enzoBTC","btc":269.90001538,"usd":22522049.862822283},{"symbol":"vbWBTC","btc":147.87522829,"usd":12319849.774013856},{"symbol":"xBTC","btc":144.2293438952837,"usd":12036257.027331073},{"symbol":"WBTC.e","btc":130.61887093,"usd":10888489.31329877},{"symbol":"eBTC","btc":95.91834036,"usd":8000857.48160701},{"symbol":"CDCBTC","btc":26.88420854,"usd":2240003.546814732},{"symbol":"feUBTC","btc":21.5217000070734,"usd":1796959.8482442908},{"symbol":"yvvbWBTC","btc":3.72037879,"usd":310713.28981393337}],"venues":74,"markets":233,"cadence":"daily","observers":["contract_read","contract_state","venue_api_jupiter"],"era":"daily"},{"date":"2026-10-01","total_btc":160380.87783023878,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76634.16118525273,"usd":6405071495.6464815},{"symbol":"WBTC","btc":56347.5440234983,"usd":4709661238.210559},{"symbol":"kBTC","btc":7400.08665558,"usd":618359823.0361646},{"symbol":"BTCB","btc":6746.852892900959,"usd":562635176.1799455},{"symbol":"LBTC","btc":5455.158366673415,"usd":455628766.21636224},{"symbol":"SolvBTC","btc":2645.898549185733,"usd":221279794.870171},{"symbol":"tBTC","btc":2024.7726478150992,"usd":169258118.96683434},{"symbol":"BTC.b","btc":1544.52428812,"usd":129039247.99105689},{"symbol":"UBTC","btc":458.7809085503639,"usd":38376116.60507825},{"symbol":"FBTC","btc":283.4280031,"usd":23676954.508615613},{"symbol":"enzoBTC","btc":269.90001538,"usd":22606933.070937634},{"symbol":"vbWBTC","btc":147.87702154,"usd":12334785.8682167},{"symbol":"xBTC","btc":142.9658532650659,"usd":11969397.576201344},{"symbol":"WBTC.e","btc":130.61889374,"usd":10914402.40878942},{"symbol":"eBTC","btc":96.17649788,"usd":8042129.8018065225},{"symbol":"CDCBTC","btc":26.884283659999998,"usd":2244145.4116747635},{"symbol":"feUBTC","btc":21.5217000070734,"usd":1795807.494797332},{"symbol":"yvvbWBTC","btc":3.72604407,"usd":311559.7072264726}],"venues":74,"markets":232,"cadence":"daily","observers":["contract_read","contract_state","venue_api_jupiter"],"era":"daily"},{"date":"2026-10-02","total_btc":160564.02659742872,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76787.71527750975,"usd":6540379032.828597},{"symbol":"WBTC","btc":56355.48620476638,"usd":4800594719.15793},{"symbol":"kBTC","btc":7476.89918455,"usd":636921746.2249163},{"symbol":"BTCB","btc":6724.064530834095,"usd":572688346.077888},{"symbol":"LBTC","btc":5436.0080191784355,"usd":462761017.2221898},{"symbol":"SolvBTC","btc":2645.8981513925655,"usd":226000686.8078121},{"symbol":"tBTC","btc":2024.7833410708897,"usd":172459041.83483577},{"symbol":"BTC.b","btc":1531.42399194,"usd":130453662.21240646},{"symbol":"UBTC","btc":458.7087753303639,"usd":39083933.3843844},{"symbol":"FBTC","btc":283.42800691,"usd":24129464.058312662},{"symbol":"enzoBTC","btc":269.90001538,"usd":22962828.90907733},{"symbol":"vbWBTC","btc":147.87702154,"usd":12611640.955067206},{"symbol":"xBTC","btc":143.0325871391336,"usd":12173505.935024614},{"symbol":"WBTC.e","btc":130.60101048,"usd":11124894.301194144},{"symbol":"eBTC","btc":96.06845165,"usd":8189344.796045249},{"symbol":"CDCBTC","btc":26.884283659999998,"usd":2293187.532069987},{"symbol":"feUBTC","btc":21.5217000070734,"usd":1831045.153514044},{"symbol":"yvvbWBTC","btc":3.72604407,"usd":318551.31159512786}],"venues":74,"markets":233,"cadence":"daily","observers":["contract_read","contract_state","venue_api_jupiter"],"era":"daily"},{"date":"2026-10-03","total_btc":160053.2059148885,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76505.034590717,"usd":6469884897.97225},{"symbol":"WBTC","btc":56337.36650140818,"usd":4765178426.841875},{"symbol":"kBTC","btc":7476.6406861,"usd":632378201.9550369},{"symbol":"BTCB","btc":6650.158529921358,"usd":562295923.9767439},{"symbol":"LBTC","btc":5306.081868712562,"usd":448308829.3911933},{"symbol":"SolvBTC","btc":2645.8981513925655,"usd":224362292.56388944},{"symbol":"tBTC","btc":2023.2279111727855,"usd":171121473.05448207},{"symbol":"BTC.b","btc":1530.98281229,"usd":129499646.049876},{"symbol":"UBTC","btc":459.34826170870815,"usd":38872426.3556467},{"symbol":"FBTC","btc":283.42801071,"usd":23963862.72233949},{"symbol":"enzoBTC","btc":269.90001538,"usd":22838502.037115432},{"symbol":"vbWBTC","btc":147.87702154,"usd":12488687.224413676},{"symbol":"xBTC","btc":142.96448940827753,"usd":12085041.403647508},{"symbol":"WBTC.e","btc":130.60094835,"usd":11044615.349700758},{"symbol":"eBTC","btc":91.56589321,"usd":7749681.867098036},{"symbol":"CDCBTC","btc":26.88247877,"usd":2274106.3095021606},{"symbol":"feUBTC","btc":21.5217000070734,"usd":1819535.9703542932},{"symbol":"yvvbWBTC","btc":3.72604407,"usd":315445.72868569725}],"venues":73,"markets":232,"cadence":"daily","observers":["contract_read","contract_state","venue_api_jupiter"],"era":"daily"},{"date":"2026-10-04","total_btc":160063.43095885796,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76086.4040341334,"usd":6453975818.877198},{"symbol":"WBTC","btc":56837.58749815914,"usd":4821053210.510409},{"symbol":"kBTC","btc":7403.99632481,"usd":628021414.9257077},{"symbol":"BTCB","btc":6640.826015701299,"usd":563207128.3761077},{"symbol":"LBTC","btc":5304.1468125059055,"usd":449818437.507405},{"symbol":"SolvBTC","btc":2645.8981513925655,"usd":225039575.35149807},{"symbol":"tBTC","btc":2023.6302786801937,"usd":171670297.46306962},{"symbol":"BTC.b","btc":1530.02214203,"usd":129773786.76678818},{"symbol":"UBTC","btc":459.4677512669079,"usd":38950156.67181889},{"symbol":"FBTC","btc":283.42801453,"usd":24055732.546016376},{"symbol":"enzoBTC","btc":269.90001538,"usd":22880855.86626443},{"symbol":"vbWBTC","btc":146.09377508,"usd":12404416.185140815},{"symbol":"xBTC","btc":142.57927539148835,"usd":12107865.122066284},{"symbol":"WBTC.e","btc":130.60097124,"usd":11078215.972184775},{"symbol":"eBTC","btc":90.71960058,"usd":7700498.597641851},{"symbol":"CDCBTC","btc":26.88247877,"usd":2279933.9205934335},{"symbol":"feUBTC","btc":21.5217000070734,"usd":1823904.7515929653},{"symbol":"uniBTC","btc":16.00007511,"usd":1357264.2505871216},{"symbol":"yvvbWBTC","btc":3.72604407,"usd":317143.0116751838}],"venues":74,"markets":235,"cadence":"daily","observers":["contract_read","contract_state","venue_api_jupiter"],"era":"daily"},{"date":"2026-10-05","total_btc":159881.24789576174,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76038.55142846458,"usd":6571679540.120176},{"symbol":"WBTC","btc":56882.24575604368,"usd":4915273970.11903},{"symbol":"kBTC","btc":7411.24900056,"usd":640299398.207736},{"symbol":"BTCB","btc":6582.711227260453,"usd":568678205.0618155},{"symbol":"LBTC","btc":5278.785080698212,"usd":456665834.2102653},{"symbol":"SolvBTC","btc":2645.8981513925655,"usd":229223284.60599858},{"symbol":"tBTC","btc":2024.7055084107808,"usd":174980685.1889239},{"symbol":"BTC.b","btc":1518.22730932,"usd":131178870.77631985},{"symbol":"UBTC","btc":455.95400913505426,"usd":39378325.03693405},{"symbol":"FBTC","btc":283.42807425,"usd":24478256.570456054},{"symbol":"enzoBTC","btc":269.90001538,"usd":23290912.895390064},{"symbol":"vbWBTC","btc":146.09371687,"usd":12667467.889306324},{"symbol":"WBTC.e","btc":130.60130755,"usd":11283745.624470422},{"symbol":"eBTC","btc":90.77688658,"usd":7849088.218865927},{"symbol":"xBTC","btc":53.9901258693368,"usd":4672381.205011111},{"symbol":"CDCBTC","btc":26.88247877,"usd":2327373.6685196967},{"symbol":"feUBTC","btc":21.5217000070734,"usd":1863358.0812836925},{"symbol":"uniBTC","btc":16.00007511,"usd":1382603.3867950314},{"symbol":"yvvbWBTC","btc":3.72604407,"usd":323868.3056909403}],"venues":74,"markets":234,"cadence":"daily","observers":["contract_read","contract_state","venue_api_jupiter"],"era":"daily"},{"date":"2026-10-06","total_btc":159621.37558910492,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":75864.45843398663,"usd":6492851334.795691},{"symbol":"WBTC","btc":56829.311697484394,"usd":4863800428.042168},{"symbol":"kBTC","btc":7411.62890427,"usd":634237888.9094341},{"symbol":"BTCB","btc":6583.920865099249,"usd":563041523.8554517},{"symbol":"LBTC","btc":5275.611999279731,"usd":451642758.4840775},{"symbol":"SolvBTC","btc":2645.8981524163446,"usd":226910960.8749552},{"symbol":"tBTC","btc":2027.6892235105133,"usd":173537529.28080666},{"symbol":"BTC.b","btc":1518.33985317,"usd":129922838.08120692},{"symbol":"UBTC","btc":434.98476968505423,"usd":37233413.28272951},{"symbol":"FBTC","btc":283.42807804,"usd":24243622.413751524},{"symbol":"enzoBTC","btc":269.90001538,"usd":23081781.34367773},{"symbol":"vbWBTC","btc":146.09351524,"usd":12530071.218803547},{"symbol":"WBTC.e","btc":130.60133039000002,"usd":11175680.626298562},{"symbol":"eBTC","btc":90.90450223,"usd":7784880.92812553},{"symbol":"xBTC","btc":40.95395094595231,"usd":3506950.5413936223},{"symbol":"CDCBTC","btc":26.88247877,"usd":2299730.7982575367},{"symbol":"feUBTC","btc":21.0417000070734,"usd":1802950.083589479},{"symbol":"uniBTC","btc":16.00007511,"usd":1369281.7545774174},{"symbol":"yvvbWBTC","btc":3.72604407,"usd":320358.5386231707}],"venues":74,"markets":235,"cadence":"daily","observers":["contract_read","contract_state","venue_api_jupiter"],"era":"daily"},{"date":"2026-10-07","total_btc":161921.43865981896,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76926.31756284526,"usd":6453877321.925981},{"symbol":"WBTC","btc":56469.3865379818,"usd":4738045064.255783},{"symbol":"kBTC","btc":7611.88269323,"usd":638628547.1629272},{"symbol":"BTCB","btc":6574.461216707096,"usd":552262795.9454257},{"symbol":"LBTC","btc":5292.441351523451,"usd":444252319.74312556},{"symbol":"SolvBTC","btc":2645.89815267012,"usd":222904027.4079274},{"symbol":"tBTC","btc":2031.0717500237583,"usd":170398960.63966492},{"symbol":"BTC.b","btc":1518.99323287,"usd":127456179.07956669},{"symbol":"enzoBTC","btc":705.4664578005394,"usd":59173063.361705326},{"symbol":"eBTC","btc":643.1008392096206,"usd":53949544.414085686},{"symbol":"UBTC","btc":436.29716316410423,"usd":36618127.480621316},{"symbol":"FBTC","btc":412.73233884548637,"usd":34617495.267562225},{"symbol":"xBTC","btc":307.91937295088496,"usd":25822815.992770743},{"symbol":"vbWBTC","btc":146.09351524,"usd":12240913.473773316},{"symbol":"WBTC.e","btc":130.60135325000002,"usd":10955274.226291029},{"symbol":"CDCBTC","btc":26.85781251,"usd":2256108.881950042},{"symbol":"feUBTC","btc":21.031700007073397,"usd":1766804.8008955861},{"symbol":"uniBTC","btc":16.00007511,"usd":1342053.116498079},{"symbol":"yvvbWBTC","btc":3.73962372,"usd":314104.4107607534},{"symbol":"zBTC","btc":1.1459101397903881,"usd":96116.56593857324}],"venues":81,"markets":258,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-10-08","total_btc":161831.33127041018,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76609.8753238254,"usd":6352819874.674819},{"symbol":"WBTC","btc":56688.1595926942,"usd":4700707306.647971},{"symbol":"kBTC","btc":7614.43713739,"usd":631392147.7359004},{"symbol":"BTCB","btc":6576.028658310029,"usd":545309708.7909828},{"symbol":"LBTC","btc":5291.821544111712,"usd":438771286.8809628},{"symbol":"SolvBTC","btc":2645.8980522260736,"usd":220038590.26871923},{"symbol":"tBTC","btc":2031.5604360070854,"usd":168494328.1599463},{"symbol":"BTC.b","btc":1519.98248749,"usd":126034904.02537864},{"symbol":"enzoBTC","btc":704.89995763,"usd":58549678.30905395},{"symbol":"eBTC","btc":642.7392025746,"usd":53289740.83286176},{"symbol":"UBTC","btc":439.61091489591377,"usd":36419922.243889235},{"symbol":"FBTC","btc":412.42960831,"usd":34204845.78645469},{"symbol":"xBTC","btc":307.4119682581655,"usd":25519557.66888674},{"symbol":"vbWBTC","btc":147.10928948,"usd":12155997.16036329},{"symbol":"WBTC.e","btc":130.60137614,"usd":10826819.361723013},{"symbol":"CDCBTC","btc":26.85109494,"usd":2228086.668074117},{"symbol":"feUBTC","btc":21.031700007073397,"usd":1745462.6560191992},{"symbol":"uniBTC","btc":16.00007511,"usd":1326762.599528209},{"symbol":"yvvbWBTC","btc":3.73962372,"usd":309771.6435693692},{"symbol":"zBTC","btc":1.14322727,"usd":94767.64534196847}],"venues":81,"markets":257,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-10-09","total_btc":161706.4115320969,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76617.73479181886,"usd":6284951589.429837},{"symbol":"WBTC","btc":56557.041262847735,"usd":4639464872.478474},{"symbol":"kBTC","btc":7635.44988592,"usd":626484672.7287005},{"symbol":"BTCB","btc":6603.122847001073,"usd":542569614.2262318},{"symbol":"LBTC","btc":5229.793405421883,"usd":428858445.0739114},{"symbol":"SolvBTC","btc":2645.8980524123244,"usd":218027243.9106899},{"symbol":"tBTC","btc":2031.1596062447602,"usd":166546181.72032425},{"symbol":"BTC.b","btc":1522.0614021,"usd":124911538.12314364},{"symbol":"enzoBTC","btc":704.89995763,"usd":57638383.14024159},{"symbol":"eBTC","btc":642.8662879146,"usd":52820799.79183956},{"symbol":"UBTC","btc":439.6414802126159,"usd":36090338.83664183},{"symbol":"FBTC","btc":422.42961215,"usd":34657541.825135946},{"symbol":"xBTC","btc":307.83940604599593,"usd":25270549.416306883},{"symbol":"vbWBTC","btc":147.10928948,"usd":12079204.823828764},{"symbol":"WBTC.e","btc":130.60139896,"usd":10713732.186024822},{"symbol":"CDCBTC","btc":26.84821981,"usd":2207200.3201097273},{"symbol":"feUBTC","btc":21.031700007073397,"usd":1725421.5976314042},{"symbol":"uniBTC","btc":16.00007511,"usd":1312583.4781281573},{"symbol":"yvvbWBTC","btc":3.73962372,"usd":307798.3249026478},{"symbol":"zBTC","btc":1.14322727,"usd":93799.28344785553}],"venues":81,"markets":258,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-10-10","total_btc":161377.1707525672,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76278.03711854023,"usd":6296388161.737776},{"symbol":"WBTC","btc":56581.11629091112,"usd":4670320442.515317},{"symbol":"kBTC","btc":7635.14577629,"usd":630270059.4012063},{"symbol":"BTCB","btc":6614.180079965579,"usd":545763743.6155431},{"symbol":"LBTC","btc":5188.128853854874,"usd":428064527.30874616},{"symbol":"SolvBTC","btc":2645.898052666215,"usd":218950823.16173744},{"symbol":"tBTC","btc":2052.5858180128207,"usd":169467374.1654671},{"symbol":"BTC.b","btc":1522.08092841,"usd":125640289.97573999},{"symbol":"enzoBTC","btc":704.89995763,"usd":58310308.54645153},{"symbol":"eBTC","btc":643.0152060046,"usd":53067471.8943636},{"symbol":"UBTC","btc":437.8255586526158,"usd":36158489.06421449},{"symbol":"FBTC","btc":417.82961598,"usd":34490443.832343616},{"symbol":"xBTC","btc":306.80129849207236,"usd":25321773.121054124},{"symbol":"vbWBTC","btc":150.27773758,"usd":12347469.163955411},{"symbol":"WBTC.e","btc":130.6014218,"usd":10779155.284224486},{"symbol":"CDCBTC","btc":26.83241165,"usd":2215715.0885916627},{"symbol":"feUBTC","btc":21.031700007073397,"usd":1735046.394143761},{"symbol":"uniBTC","btc":16.00007511,"usd":1320830.1707029033},{"symbol":"yvvbWBTC","btc":3.73962372,"usd":307997.99798483617},{"symbol":"zBTC","btc":1.14322727,"usd":94373.66810088053}],"venues":81,"markets":258,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-10-11","total_btc":161471.79318787289,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76328.6910292638,"usd":6320336067.775078},{"symbol":"WBTC","btc":56588.37154654387,"usd":4685396078.398323},{"symbol":"kBTC","btc":7635.16532532,"usd":632215304.8385531},{"symbol":"BTCB","btc":6649.741377740672,"usd":550859195.5775996},{"symbol":"LBTC","btc":5188.887067029531,"usd":430119620.14036477},{"symbol":"SolvBTC","btc":2645.898052666215,"usd":219813455.04642868},{"symbol":"tBTC","btc":2052.5249901032803,"usd":169928149.6196156},{"symbol":"BTC.b","btc":1523.08740417,"usd":126123776.28848532},{"symbol":"enzoBTC","btc":704.8999576299999,"usd":58494558.90787556},{"symbol":"eBTC","btc":642.9895909046,"usd":53267280.867430426},{"symbol":"UBTC","btc":436.6710313134263,"usd":36227106.94644791},{"symbol":"FBTC","btc":417.82961982,"usd":34646408.40560765},{"symbol":"xBTC","btc":307.415646340467,"usd":25494748.291668355},{"symbol":"vbWBTC","btc":150.27773758,"usd":12414311.855172433},{"symbol":"WBTC.e","btc":130.60151069,"usd":10810716.393832661},{"symbol":"CDCBTC","btc":26.82667463,"usd":2224617.789977847},{"symbol":"feUBTC","btc":21.031700007073397,"usd":1743661.1045845093},{"symbol":"uniBTC","btc":16.00007511,"usd":1324642.9289600914},{"symbol":"yvvbWBTC","btc":3.73962372,"usd":309667.878419972},{"symbol":"zBTC","btc":1.14322727,"usd":94916.00031659419}],"venues":81,"markets":258,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-10-12","total_btc":161581.04265480943,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76439.36319077927,"usd":6384905493.947346},{"symbol":"WBTC","btc":56612.440275543675,"usd":4728017406.381905},{"symbol":"kBTC","btc":7635.38285129,"usd":637820343.3912543},{"symbol":"BTCB","btc":6655.038829417195,"usd":556167368.3614596},{"symbol":"LBTC","btc":5136.958240640326,"usd":429441386.52692485},{"symbol":"SolvBTC","btc":2645.898052666215,"usd":221755019.15572956},{"symbol":"tBTC","btc":2054.6583882826603,"usd":171640980.38212502},{"symbol":"BTC.b","btc":1521.93930913,"usd":127123895.39282502},{"symbol":"enzoBTC","btc":704.89995763,"usd":59028657.41525348},{"symbol":"eBTC","btc":663.2296643446,"usd":55428615.264688924},{"symbol":"UBTC","btc":436.0699847494205,"usd":36509801.69046437},{"symbol":"FBTC","btc":417.83024954,"usd":34913597.75776041},{"symbol":"xBTC","btc":307.71788268900093,"usd":25724068.85326435},{"symbol":"vbWBTC","btc":150.27773758,"usd":12589406.487219483},{"symbol":"WBTC.e","btc":130.60060287,"usd":10907212.079177067},{"symbol":"CDCBTC","btc":26.822811530000003,"usd":2243794.6979839187},{"symbol":"feUBTC","btc":21.031700007073397,"usd":1763434.4147504563},{"symbol":"uniBTC","btc":16.00007511,"usd":1336298.171754764},{"symbol":"yvvbWBTC","btc":3.73962372,"usd":314034.5827450567},{"symbol":"zBTC","btc":1.14322727,"usd":95641.1837523376}],"venues":81,"markets":258,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"},{"date":"2026-10-13","total_btc":161953.68625371825,"unresolved_btc":2e-8,"shares":[{"symbol":"cbBTC","btc":76748.3025118671,"usd":6357344375.693325},{"symbol":"WBTC","btc":56688.13149752325,"usd":4694862369.451526},{"symbol":"kBTC","btc":7635.76056361,"usd":632510521.596879},{"symbol":"BTCB","btc":6589.64754882271,"usd":545884443.4085686},{"symbol":"LBTC","btc":5142.463964682529,"usd":425811632.09077984},{"symbol":"SolvBTC","btc":2653.8980535326814,"usd":220472093.4804703},{"symbol":"tBTC","btc":2067.055851064669,"usd":171184490.33143902},{"symbol":"BTC.b","btc":1528.44861757,"usd":126597415.7691379},{"symbol":"enzoBTC","btc":704.89995763,"usd":57753707.61568126},{"symbol":"eBTC","btc":663.4710025146,"usd":54949121.49337416},{"symbol":"UBTC","btc":433.87458434115746,"usd":35994474.19463847},{"symbol":"FBTC","btc":417.94896105,"usd":34577659.44685447},{"symbol":"xBTC","btc":307.9223077325023,"usd":25474016.18210922},{"symbol":"vbWBTC","btc":150.26722619,"usd":12428877.92927943},{"symbol":"WBTC.e","btc":130.600681,"usd":10815162.91180664},{"symbol":"CDCBTC","btc":26.82143109,"usd":2225883.740545208},{"symbol":"BTC","btc":22.25686737,"usd":1853082.072103419},{"symbol":"feUBTC","btc":21.031700007073397,"usd":1738157.0323063652},{"symbol":"uniBTC","btc":16.00007511,"usd":1325565.103902649},{"symbol":"yvvbWBTC","btc":3.73962372,"usd":310053.29164218117},{"symbol":"zBTC","btc":1.14322727,"usd":94591.13963949517}],"venues":85,"markets":264,"cadence":"daily","observers":["contract_read","contract_state"],"era":"daily"}],"history_note":"Bitcoin posted as collateral, by wrapper, from the first bitcoin lent against in decentralised credit (Compound v2, 2019) to today. The bar is this series' LAST POINT — one query, derived in one process, so the two cannot disagree. Three eras, each named on every point by its observers and served in `history_eras`: WEEKLY before the daily read began — the venues' own contracts read at each Monday's last block (an archive read: past state is served by the chain, not stored by us) and Maker's vat, then from 2022-09-19 the aggregator for every venue those reads do not cover — and DAILY since the contract-state read began. One observer per venue per point. Coverage changes with the era (venues and markets per point are served beside the level), so a step at a boundary is a change in who is observed as much as in bitcoin posted.","history_from":"2019-07-22","history_days":448,"history_eras":[{"era":"archive","from":"2019-07-22","to":"2022-07-04","points":155,"cadence":"weekly","observers":["archive_read","vat_read"],"label":"The venues' own contracts at each Monday's last block, and Maker's vat — weekly"},{"era":"aggregator","from":"2022-07-11","to":"2026-07-20","points":211,"cadence":"weekly","observers":["archive_read","contract_read","vat_read"],"label":"The aggregator (DefiLlama) for most venues, the venues' contracts for those it did not yet list — weekly"},{"era":"daily","from":"2026-07-24","to":"2026-10-13","points":82,"cadence":"daily","observers":["contract_read","contract_state","venue_api_jupiter"],"label":"The contract-state read and the aggregator — daily"}]},"quality":{"scope":"Quality figures are venue-API scoped (Morpho); concentration is over every venue reporting collateral.","ltv":{"aggregate":0.5513172708432748,"liquidation_threshold":0.8684137768561452,"headroom_pp":0.3170965060128704,"collateral_fall_to_liquidation":0.36514449040736285,"markets":216,"venues":8,"note":"Debt-weighted, over the venue-API markets where both a liquidation threshold and both sides of the book are published. NOT the whole market: Aave and Compound do not publish a per-market threshold this estate ingests."},"bad_debt":{"published_set_usd":0,"realized_usd":0,"debt_usd":4875844261.769299,"markets_affected":0,"markets":221,"withheld_set_usd":20160823171.802647,"withheld_markets_affected":16,"note":"Morpho only — no other venue publishes a bad-debt field and deriving one needs the parked loan-level stream. `withheld_set_usd` is bad debt in markets the rate gate excludes; the largest of them is a market in default, and omitting it would make a zero read as a venue-wide claim."},"concentration":{"venues":85,"top_venue":"aave_v3_ethereum","top_share":0.34996241943510026,"top3_share":0.7315078328718299,"hhi":0.2092453725085119,"basis":"collateral_btc","note":"Herfindahl over venue shares of BTC collateral. Above 0.25 is a concentrated market by the competition-authority convention this borrows from."}}},"indicators":[{"id":"lci","name":"Leverage Conviction Index","family":"credit","units":"annualised % by rolling window","description":"The annualised cost of holding leveraged BTC long exposure via perpetual futures funding. NOT a Gavel rate: sourced from Binance BTCUSDT 8-hour funding, summed over the rolling window and annualised. Positive means longs pay shorts (net long conviction); negative means shorts pay longs. Functions as the zero-duration point of the capital stack.","live":false,"has_history":false,"as_known_on":false,"note":"Retired 2026-10-02 (PV1 G0-2c): Binance perpetual-futures data is not licensed for redistribution. The route still answers, with null values and a `retired` block; the history is retained, not served.","route":null,"reading":null,"unavailable":"Retired 2026-10-02 (PV1 G0-2c): Binance perpetual-futures data is not licensed for redistribution. The route still answers, with null values and a `retired` block; the history is retained, not served."},{"id":"sdr","name":"Stablecoin Dominance Ratio","family":"credit","units":"percent","description":"Stablecoin market cap as a share of total crypto market cap.","live":false,"has_history":false,"as_known_on":false,"note":"Retired 2026-10-02 (PV1 G0-2g): total crypto market capitalisation has no root source. The route still answers, with null values and a `retired` block; the history is retained, not served.","route":null,"reading":null,"unavailable":"Retired 2026-10-02 (PV1 G0-2g): total crypto market capitalisation has no root source. The route still answers, with null values and a `retired` block; the history is retained, not served."},{"id":"intermediation-spread","name":"Borrow over lend rate, per class","family":"market","units":"percent_cc (points)","description":"What borrowers pay over what lenders earn, per class, where both legs come from the same venues: pools (from 2022-09-19) and the desks that post both rates (from 2026-10-07). Not at market level, where the two legs come from different classes; not for minted stablecoins (no lender) or auctions (one price). Recast on 2026-10-09 from a one-venue comparison.","live":true,"has_history":true,"as_known_on":true,"route":"/v1/market/measure/intermediation-spread","reading":{"id":"intermediation-spread","name":"Borrow over lend rate, per class","measure":"CX-IX1","question":"What do borrowers pay over what lenders earn, in each class where both legs come from the same venues (pools; desks posting both)?","headline":"cx.class.algorithmic.intermediation_spread","source":"Derived in the vintage store: credit_tree borrow rate − lend rate","series":[{"series_id":"cx.class.algorithmic.intermediation_spread","date":"2026-10-13","value":1.52307994058,"unit":"percent_cc","kind":"derived","coverage_lend":{"in":65,"of":98,"markets":{"in":27,"of":27,"weight_in_usd":2786699451.9918523,"weight_of_usd":2786699451.9918523}},"coverage_borrow":{"in":71,"of":98,"markets":{"in":27,"of":27,"weight_in_usd":2499777153.819868,"weight_of_usd":2499777153.819868}},"limitation":"What borrowers pay over what lenders earn in the algorithmic class: the tree's dollar-debt-weighted borrow rate (weighted by dollar debt for 71 of 98 venues) minus its supply-weighted lend rate (weighted by dollar supply for 65 of 98 venues), both continuously compounded. The wedge is the venues' reserve and the unlent part of supply, not a profit figure. Coverage steps on either leg move it. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.class.posted-card.intermediation_spread","date":"2026-10-13","value":8.246410788005,"unit":"percent_cc","kind":"derived","coverage_lend":{"in":2,"of":24},"coverage_borrow":{"in":5,"of":24},"limitation":"What borrowers pay over what lenders earn in the posted-card class: the tree's dollar-debt-weighted borrow rate (weighted by dollar debt for 5 of 24 venues; 5 posted rate(s) carry no weight and are not in it) minus its supply-weighted lend rate (weighted by dollar supply for 2 of 24 venues), both continuously compounded. The wedge is the venues' reserve and the unlent part of supply, not a profit figure. Coverage steps on either leg move it. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"}],"methodology":{"url":"https://www.bitcoincreditstack.com/indicators/intermediation-spread","note":"Changes to how a measure is derived are recorded in the runbook and every published version is kept (as_known_on)."},"sample":"One credit cycle, from 2022-09-19: observational. Descriptive, not a forecast or a signal, and not an index."},"unavailable":null},{"id":"capital-stack","name":"Capital Stack","family":"credit","units":"% a year as each source quotes it, by layer: Treasury bond-equivalent, the auction and posted cards APR (the signed curve, benchmark-curves, serves every layer continuously compounded)","description":"The Bitcoin Credit Stack: risk-free, CeFi, DeFi and Gavel layers side by side at matched tenors. The variable DeFi layers are currently withheld (DefiLlama data, not redistributed) and return empty. The leveraged (perp funding) layer is retired (2026-10-02) and returns empty. Payloads carry `withheld` and `retired` blocks naming each field returned empty or null and why.","live":true,"has_history":false,"as_known_on":true,"route":"/v1/credit/capital-stack","reading":{"computed_at":"2026-10-13T14:00:17.497Z","layers":{"risk_free":[{"duration_days":90,"rate":4.23,"source":"us_treasury_3m"},{"duration_days":180,"rate":4.3,"source":"us_treasury_6m"},{"duration_days":365,"rate":4.44,"source":"us_treasury_1y"},{"duration_days":730,"rate":4.75,"source":"us_treasury_2y"}],"variable_defi":[],"variable_defi_lend":[],"variable_defi_borrow":[],"term_defi":[{"duration_days":7,"rate":4.2735,"source":"gavel"},{"duration_days":30,"rate":5.2507,"source":"gavel"},{"duration_days":90,"rate":5.6176,"source":"gavel"},{"duration_days":180,"rate":5.6849,"source":"gavel"},{"duration_days":365,"rate":5.6226,"source":"gavel"}],"cefi_term":[{"duration_days":30,"rate":10.5,"source":"cefi_composite","administered":true,"effective_date":"2026-07-21","desk_count":1},{"duration_days":90,"rate":10.5,"source":"cefi_composite","administered":true,"effective_date":"2026-07-21","desk_count":1},{"duration_days":180,"rate":12.35,"source":"cefi_composite","administered":true,"effective_date":"2026-07-21","desk_count":2},{"duration_days":365,"rate":10.5,"source":"cefi_composite","administered":true,"effective_date":"2026-10-09","desk_count":5}],"leveraged":[]},"layer_notes":{"cefi_term":"Administered posted rate cards (median across fixed-term custodial desks), not market-cleared. Render distinctly; the Gavel→CeFi gap is the composite CCS.","variable_defi":"Withheld: third-party source (DefiLlama), not redistributed.","variable_defi_lend":"Withheld: third-party source (DefiLlama), not redistributed.","variable_defi_borrow":"Withheld: third-party source (DefiLlama), not redistributed.","term_defi":"Gavel — cleared, so one rate serves both sides.","leveraged":"Retired 2026-10-02 (PV1 G0-2c): Binance perpetual-futures data is not licensed for redistribution. History retained, not served."},"withheld":{"fields":["variable_defi","variable_defi_lend","variable_defi_borrow"],"provider":"DefiLlama","absent_because":"Withheld: third-party source (DefiLlama), not redistributed."},"retired":{"on":"2026-10-02","ruling":"PV1 R1","fields":["leveraged"],"reason":"Retired 2026-10-02 (PV1 G0-2c): Binance perpetual-futures data is not licensed for redistribution. History retained, not served."},"attribution":[{"provider":"Board of Governors of the Federal Reserve System","text":"Source: Board of Governors of the Federal Reserve System (H.15, H.4.1, H.6).","url":"https://www.federalreserve.gov/releases/h15/","covers":"US Treasury yields, federal funds rate, prime rate, balance sheet, M2"}]},"unavailable":null},{"id":"benchmark-curves","name":"Benchmark Curves (the signed curve)","family":"credit","units":"percent_cc on every point (rate_cc), with the native rate and unit beside it","description":"The site's curve chart as one payload. `past`: realised rates by lookback window (an averaging window, not a maturity) for each dollar class of the financing curve, by leg, with the Treasury of that tenor as quoted that long ago. `forward`: contracted rates by maturity: the Treasury curve, the auction curve fitted to Gavel's book (each point flagged `fitted` beyond the longest tenor observed, with the fit's provenance), and the posted CeFi composite (administered, not cleared). Every point carries rate_cc, continuously compounded, so the two halves share one axis; the conversions are stated in `conversions`. Absent legs carry their kind and reason. The Aave and Compound mini curves this route once served are no longer served: their keys stay, empty, named in `replaced`.","live":true,"has_history":false,"as_known_on":true,"route":"/v1/credit/benchmark-curves","reading":{"computed_at":"2026-10-13T14:43:07.914Z","id":"benchmark-curves","name":"The signed curve","question":"What did borrowing against bitcoin cost over each recent window, and what does it cost for each term agreed today, beside the Treasury?","rate_convention":"continuously_compounded_annual","rate_convention_note":"Rates are percent a year, continuously compounded; each point also carries the rate as quoted, in its own unit.","conversions":{"percent_cc":"already continuously compounded","treasury_bond_equivalent":"rate_cc = 200 · ln(1 + y/200): a constant-maturity yield is bond-equivalent (semi-annual)","percent_apr":"the auction: rate_cc = 100 · (365/t) · ln(1 + (r/100) · t/365), t the tenor in days: a simple annual rate repaid at maturity","posted_card":"each card converted on its desk's own compounding basis (monthly nominal, simple bullet or daily compound; where the desk's pages do not establish one, simple bullet, with rate_cc_low and rate_cc_high over the candidate bases), then the median across cards; an open-ended card is taken at t = 365"},"past":{"axis":"lookback_window","as_of":"2026-10-13","windows":[7,14,30,60,90,180,365,730],"note":"Realised: each window is an AVERAGING window, not a maturity. Every pool behind a class is open-term and floating, so a rising curve means rates were higher further back, not a term premium. The Treasury beside them is the bill or note of that tenor as quoted that long ago, locked at origination: a point-in-time quote, not a mean.","series":[{"id":"algorithmic","class":"algorithmic","leg":"borrow","unit":"percent_cc","points":[{"window_days":7,"rate_cc":5.103642733858319,"kind":"derived","p10_cc":3.970118606215626,"p50_cc":4.701982370074669,"p90_cc":6.3780847727904,"sd_cc":2.266117078035843,"pool_count":787,"venue_count":80,"days_observed":7,"debt_usd":15423990054,"dispersion_pools":462,"dispersion_venues":69,"dispersion_absence_reason":null},{"window_days":14,"rate_cc":5.06318050545042,"kind":"derived","p10_cc":3.9697733796328043,"p50_cc":4.659738082394753,"p90_cc":6.539414157651367,"sd_cc":2.2853311592410623,"pool_count":787,"venue_count":80,"days_observed":14,"debt_usd":14905016690,"dispersion_pools":472,"dispersion_venues":71,"dispersion_absence_reason":null},{"window_days":30,"rate_cc":4.941833614366269,"kind":"derived","p10_cc":3.92596,"p50_cc":4.6401439490784,"p90_cc":6.3,"sd_cc":2.127014797664651,"pool_count":787,"venue_count":80,"days_observed":30,"debt_usd":13703054188,"dispersion_pools":487,"dispersion_venues":71,"dispersion_absence_reason":null},{"window_days":60,"rate_cc":4.749618207786347,"kind":"derived","p10_cc":3.6651646695482536,"p50_cc":4.3857332720185775,"p90_cc":6.159480255738672,"sd_cc":2.2760564319254306,"pool_count":787,"venue_count":80,"days_observed":60,"debt_usd":13721981400,"dispersion_pools":511,"dispersion_venues":72,"dispersion_absence_reason":null},{"window_days":90,"rate_cc":4.577508323024263,"kind":"derived","p10_cc":3.47522,"p50_cc":4.237851052047496,"p90_cc":5.965295668596433,"sd_cc":2.095679673453998,"pool_count":793,"venue_count":80,"days_observed":90,"debt_usd":13738225386,"dispersion_pools":525,"dispersion_venues":72,"dispersion_absence_reason":null},{"window_days":180,"rate_cc":4.566424918540753,"kind":"derived","p10_cc":3.1854,"p50_cc":4.05128,"p90_cc":6.14955,"sd_cc":2.2672787986752283,"pool_count":794,"venue_count":81,"days_observed":180,"debt_usd":13124473980,"dispersion_pools":566,"dispersion_venues":76,"dispersion_absence_reason":null},{"window_days":365,"rate_cc":4.512917360095549,"kind":"derived","p10_cc":3.0524,"p50_cc":4.18023,"p90_cc":5.949984831934916,"sd_cc":2.0335621148550094,"pool_count":796,"venue_count":81,"days_observed":365,"debt_usd":14308274034,"dispersion_pools":622,"dispersion_venues":78,"dispersion_absence_reason":null},{"window_days":730,"rate_cc":5.510887901808747,"kind":"derived","p10_cc":3.32018,"p50_cc":4.879016416943205,"p90_cc":8.63815,"sd_cc":2.9540724100784788,"pool_count":796,"venue_count":81,"days_observed":730,"debt_usd":12711247538,"dispersion_pools":638,"dispersion_venues":79,"dispersion_absence_reason":null}]},{"id":"algorithmic::lend","class":"algorithmic","leg":"lend","unit":"percent_cc","points":[{"window_days":7,"rate_cc":3.75546132258287,"kind":"derived","p10_cc":0.2685739500707847,"p50_cc":3.431274804052225,"p90_cc":4.57478503263858,"sd_cc":2.474864602347632,"pool_count":787,"venue_count":80,"days_observed":7,"supplied_usd":13306096554,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7201046191346467,"origin":"aggregator_defillama","supplied_usd":13300582961},{"scope":"isolated markets, per-market supply rate from the venue's own API — 181 market-observation(s) across 3 venue(s)","share":0.27989538086535326,"origin":"venue_api_morpho","supplied_usd":5169765107}],"dispersion_pools":462,"dispersion_venues":69,"dispersion_absence_reason":null},{"window_days":14,"rate_cc":3.662807243650454,"kind":"derived","p10_cc":0.22281539149404617,"p50_cc":3.4494635428704,"p90_cc":4.639701716179981,"sd_cc":2.3002096817216455,"pool_count":787,"venue_count":80,"days_observed":14,"supplied_usd":12806525785,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7181010363410838,"origin":"aggregator_defillama","supplied_usd":12803590910},{"scope":"isolated markets, per-market supply rate from the venue's own API — 184 market-observation(s) across 3 venue(s)","share":0.28189896365891626,"origin":"venue_api_morpho","supplied_usd":5026199415}],"dispersion_pools":472,"dispersion_venues":71,"dispersion_absence_reason":null},{"window_days":30,"rate_cc":3.538390682840572,"kind":"derived","p10_cc":0.30094017445151466,"p50_cc":3.3600121868377215,"p90_cc":4.3879835847312,"sd_cc":2.2347745846236484,"pool_count":787,"venue_count":80,"days_observed":30,"supplied_usd":11749972956,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7069755904617927,"origin":"aggregator_defillama","supplied_usd":11748505640},{"scope":"isolated markets, per-market supply rate from the venue's own API — 192 market-observation(s) across 3 venue(s)","share":0.29302440953820735,"origin":"venue_api_morpho","supplied_usd":4869473536}],"dispersion_pools":487,"dispersion_venues":71,"dispersion_absence_reason":null},{"window_days":60,"rate_cc":3.3785069530847225,"kind":"derived","p10_cc":0.43419,"p50_cc":3.19172,"p90_cc":4.23293,"sd_cc":2.317663367091853,"pool_count":787,"venue_count":80,"days_observed":60,"supplied_usd":11929562127,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7237610169831056,"origin":"aggregator_defillama","supplied_usd":11928828469},{"scope":"isolated markets, per-market supply rate from the venue's own API — 210 market-observation(s) across 3 venue(s)","share":0.2762389830168944,"origin":"venue_api_morpho","supplied_usd":4552894350}],"dispersion_pools":511,"dispersion_venues":72,"dispersion_absence_reason":null},{"window_days":90,"rate_cc":3.22576466649915,"kind":"derived","p10_cc":0.48483,"p50_cc":2.9282,"p90_cc":4.123010531942892,"sd_cc":2.081594243199607,"pool_count":793,"venue_count":80,"days_observed":90,"supplied_usd":12245546937,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7392724408825503,"origin":"aggregator_defillama","supplied_usd":12245028839},{"scope":"isolated markets, per-market supply rate from the venue's own API — 215 market-observation(s) across 3 venue(s)","share":0.26072755911744977,"origin":"venue_api_morpho","supplied_usd":4318592584}],"dispersion_pools":525,"dispersion_venues":72,"dispersion_absence_reason":null},{"window_days":180,"rate_cc":3.1697507000380325,"kind":"derived","p10_cc":0.34078,"p50_cc":2.75773,"p90_cc":4.214499097437416,"sd_cc":2.194567055455969,"pool_count":794,"venue_count":81,"days_observed":180,"supplied_usd":12199506759,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7622657746751313,"origin":"aggregator_defillama","supplied_usd":12198762541},{"scope":"isolated markets, per-market supply rate from the venue's own API — 216 market-observation(s) across 3 venue(s)","share":0.2377342253248686,"origin":"venue_api_morpho","supplied_usd":3804530466}],"dispersion_pools":566,"dispersion_venues":76,"dispersion_absence_reason":null},{"window_days":365,"rate_cc":2.9711015517460693,"kind":"derived","p10_cc":0.87711,"p50_cc":2.68576,"p90_cc":4.14064,"sd_cc":1.8018669986117295,"pool_count":796,"venue_count":81,"days_observed":365,"supplied_usd":15399431058,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.8289336453602517,"origin":"aggregator_defillama","supplied_usd":15397846113},{"scope":"isolated markets, per-market supply rate from the venue's own API — 218 market-observation(s) across 3 venue(s)","share":0.17106635463974837,"origin":"venue_api_morpho","supplied_usd":3177640839}],"dispersion_pools":622,"dispersion_venues":78,"dispersion_absence_reason":null},{"window_days":730,"rate_cc":3.703571822464676,"kind":"derived","p10_cc":1.19898,"p50_cc":3.29785,"p90_cc":5.99986,"sd_cc":2.5860439429153153,"pool_count":796,"venue_count":81,"days_observed":730,"supplied_usd":14293835378,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.8794058613107397,"origin":"aggregator_defillama","supplied_usd":14280247979},{"scope":"isolated markets, per-market supply rate from the venue's own API — 219 market-observation(s) across 3 venue(s)","share":0.12059413868926025,"origin":"venue_api_morpho","supplied_usd":1958270102}],"dispersion_pools":638,"dispersion_venues":79,"dispersion_absence_reason":null}]},{"id":"auction","class":"auction","leg":"cleared","unit":"percent_cc","points":[{"window_days":7,"rate_cc":5.673116666666648,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":1,"venue_count":1,"days_observed":8,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"auction publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":14,"rate_cc":5.537208630952403,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":1,"venue_count":1,"days_observed":15,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"auction publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":30,"rate_cc":5.489079305555537,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":1,"venue_count":1,"days_observed":31,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"auction publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":60,"rate_cc":5.330556111111167,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":1,"venue_count":1,"days_observed":61,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"auction publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":90,"rate_cc":4.973764112082345,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":1,"venue_count":1,"days_observed":86,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"auction publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"}]},{"id":"corporate","class":"corporate","leg":"borrow","unit":"percent_cc","points":[{"window_days":7,"rate_cc":null,"kind":"absent:not_applicable","reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":4,"venue_count":1,"days_observed":3,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":14,"rate_cc":null,"kind":"absent:not_applicable","reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":8,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":30,"rate_cc":null,"kind":"absent:not_applicable","reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":20,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":60,"rate_cc":null,"kind":"absent:not_applicable","reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":39,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":90,"rate_cc":null,"kind":"absent:not_applicable","reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":61,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":180,"rate_cc":null,"kind":"absent:not_applicable","reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":122,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":365,"rate_cc":null,"kind":"absent:not_applicable","reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":249,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":730,"rate_cc":null,"kind":"absent:not_applicable","reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":420,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"}]},{"id":"corporate::lend","class":"corporate","leg":"lend","unit":"percent_cc","points":[{"window_days":7,"rate_cc":11.795019671547095,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":4,"venue_count":1,"days_observed":3,"supplied_usd":null,"lend_observers":[],"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":14,"rate_cc":11.829454018706572,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":8,"supplied_usd":null,"lend_observers":[],"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":30,"rate_cc":11.864690153096687,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":20,"supplied_usd":null,"lend_observers":[],"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":60,"rate_cc":11.925582684242652,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":39,"supplied_usd":null,"lend_observers":[],"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":90,"rate_cc":12.368743675970727,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":61,"supplied_usd":null,"lend_observers":[],"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":180,"rate_cc":12.317221970922711,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":122,"supplied_usd":null,"lend_observers":[],"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":365,"rate_cc":11.667739011638073,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":249,"supplied_usd":null,"lend_observers":[],"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":730,"rate_cc":11.031752799710073,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":5,"venue_count":1,"days_observed":420,"supplied_usd":null,"lend_observers":[],"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"}]},{"id":"minted","class":"minted","leg":"borrow","unit":"percent_cc","points":[{"window_days":7,"rate_cc":8.122747766337175,"kind":"derived","p10_cc":3.5917485159887996,"p50_cc":9.758032833886402,"p90_cc":9.984533496971615,"sd_cc":2.346956370465648,"pool_count":25,"venue_count":3,"days_observed":7,"debt_usd":627161416,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":14,"rate_cc":7.815286518396032,"kind":"derived","p10_cc":3.5917485159887996,"p50_cc":8.84686479876082,"p90_cc":9.984533496971615,"sd_cc":2.2395735315639875,"pool_count":25,"venue_count":3,"days_observed":14,"debt_usd":628216879,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":30,"rate_cc":7.671345993658389,"kind":"derived","p10_cc":3.5966385105794267,"p50_cc":8.84686479876082,"p90_cc":9.758032833886402,"sd_cc":2.147867725923549,"pool_count":25,"venue_count":3,"days_observed":30,"debt_usd":632213009,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":60,"rate_cc":7.655251964214547,"kind":"derived","p10_cc":3.5966385105794267,"p50_cc":8.84686479876082,"p90_cc":9.531017980432493,"sd_cc":2.2030336644117186,"pool_count":25,"venue_count":3,"days_observed":60,"debt_usd":631146307,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":90,"rate_cc":7.781580351392754,"kind":"derived","p10_cc":4.811326846054712,"p50_cc":8.84686479876082,"p90_cc":9.075436326846411,"sd_cc":2.0507249897646513,"pool_count":25,"venue_count":3,"days_observed":90,"debt_usd":642179091,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":180,"rate_cc":7.648270914637967,"kind":"derived","p10_cc":5.789147841577768,"p50_cc":7.927318089450789,"p90_cc":9.075436326846411,"sd_cc":1.8093814817335565,"pool_count":25,"venue_count":3,"days_observed":180,"debt_usd":612134196,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":365,"rate_cc":7.337327495570966,"kind":"derived","p10_cc":5.246483286827612,"p50_cc":7.696104113612839,"p90_cc":9.075436326846411,"sd_cc":2.234290229015121,"pool_count":25,"venue_count":3,"days_observed":365,"debt_usd":604367607,"dispersion_pools":21,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":730,"rate_cc":7.4796792598327535,"kind":"derived","p10_cc":4.5652962580281296,"p50_cc":7.464354299576572,"p90_cc":11.778303565638346,"sd_cc":3.1591453535356826,"pool_count":25,"venue_count":3,"days_observed":730,"debt_usd":777524141,"dispersion_pools":23,"dispersion_venues":3,"dispersion_absence_reason":null}]},{"id":"minted::lend","class":"minted","leg":"lend","unit":"percent_cc","points":[{"window_days":7,"rate_cc":null,"kind":"absent:not_applicable","reason":"no lender exists — the stablecoin is minted against collateral, not supplied","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":25,"venue_count":3,"days_observed":7,"supplied_usd":0,"lend_observers":null,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":14,"rate_cc":null,"kind":"absent:not_applicable","reason":"no lender exists — the stablecoin is minted against collateral, not supplied","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":25,"venue_count":3,"days_observed":14,"supplied_usd":0,"lend_observers":null,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":30,"rate_cc":null,"kind":"absent:not_applicable","reason":"no lender exists — the stablecoin is minted against collateral, not supplied","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":25,"venue_count":3,"days_observed":30,"supplied_usd":0,"lend_observers":null,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":60,"rate_cc":null,"kind":"absent:not_applicable","reason":"no lender exists — the stablecoin is minted against collateral, not supplied","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":25,"venue_count":3,"days_observed":60,"supplied_usd":0,"lend_observers":null,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":90,"rate_cc":null,"kind":"absent:not_applicable","reason":"no lender exists — the stablecoin is minted against collateral, not supplied","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":25,"venue_count":3,"days_observed":90,"supplied_usd":0,"lend_observers":null,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":180,"rate_cc":null,"kind":"absent:not_applicable","reason":"no lender exists — the stablecoin is minted against collateral, not supplied","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":25,"venue_count":3,"days_observed":180,"supplied_usd":0,"lend_observers":null,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":365,"rate_cc":null,"kind":"absent:not_applicable","reason":"no lender exists — the stablecoin is minted against collateral, not supplied","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":25,"venue_count":3,"days_observed":365,"supplied_usd":0,"lend_observers":null,"dispersion_pools":21,"dispersion_venues":3,"dispersion_absence_reason":null},{"window_days":730,"rate_cc":null,"kind":"absent:not_applicable","reason":"no lender exists — the stablecoin is minted against collateral, not supplied","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":25,"venue_count":3,"days_observed":730,"supplied_usd":0,"lend_observers":null,"dispersion_pools":23,"dispersion_venues":3,"dispersion_absence_reason":null}]},{"id":"posted-card","class":"posted-card","leg":"borrow","unit":"percent_cc","points":[{"window_days":7,"rate_cc":11.55274020479272,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":7,"venue_count":7,"days_observed":7,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":14,"rate_cc":11.670431326886161,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":7,"venue_count":7,"days_observed":14,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":30,"rate_cc":11.714978768055905,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":7,"venue_count":7,"days_observed":30,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":60,"rate_cc":11.736230747222363,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":7,"venue_count":7,"days_observed":60,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":90,"rate_cc":11.743600506452076,"kind":"derived","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":7,"venue_count":7,"days_observed":85,"debt_usd":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"}]},{"id":"posted-card::lend","class":"posted-card","leg":"lend","unit":"percent_cc","points":[{"window_days":7,"rate_cc":null,"kind":"absent:not_read","reason":"lend leg not observed for these pools","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":7,"venue_count":7,"days_observed":7,"supplied_usd":null,"lend_observers":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":14,"rate_cc":null,"kind":"absent:not_read","reason":"lend leg not observed for these pools","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":7,"venue_count":7,"days_observed":14,"supplied_usd":null,"lend_observers":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":30,"rate_cc":null,"kind":"absent:not_read","reason":"lend leg not observed for these pools","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":7,"venue_count":7,"days_observed":30,"supplied_usd":null,"lend_observers":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":60,"rate_cc":null,"kind":"absent:not_read","reason":"lend leg not observed for these pools","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":7,"venue_count":7,"days_observed":60,"supplied_usd":null,"lend_observers":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"},{"window_days":90,"rate_cc":null,"kind":"absent:not_read","reason":"lend leg not observed for these pools","p10_cc":null,"p50_cc":null,"p90_cc":null,"sd_cc":null,"pool_count":7,"venue_count":7,"days_observed":85,"supplied_usd":null,"lend_observers":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed"}]},{"id":"treasuries","class":null,"leg":null,"unit":"percent_cc","source":"Board of Governors of the Federal Reserve System, H.15 constant-maturity yields","points":[{"window_days":30,"rate_cc":3.8918862312438045,"rate":3.93,"unit":"percent","tenor":"1m","quoted_on":"2026-09-11","kind":"exact"},{"window_days":90,"rate_cc":3.793789309520456,"rate":3.83,"unit":"percent","tenor":"3m","quoted_on":"2026-07-15","kind":"exact"},{"window_days":180,"rate_cc":3.676009456285917,"rate":3.71,"unit":"percent","tenor":"6m","quoted_on":"2026-04-16","kind":"exact"},{"window_days":365,"rate_cc":3.567983625666203,"rate":3.6,"unit":"percent","tenor":"1y","quoted_on":"2025-10-13","kind":"exact"},{"window_days":730,"rate_cc":3.9114998431061436,"rate":3.95,"unit":"percent","tenor":"2y","quoted_on":"2024-10-11","kind":"exact"}]}]},"forward":{"axis":"maturity","note":"Contracted: the term a borrower agrees. The auction curve is fitted to Gavel's own book; beyond observed_max_tenor it is fitted, not observed. Posted cards are administered, not cleared.","series":[{"id":"treasuries","as_of":"2026-10-08","basis":"bond_equivalent","source":"Board of Governors of the Federal Reserve System, H.15 constant-maturity yields","points":[{"duration_days":90,"rate_cc":4.18588863620597,"rate":4.23,"unit":"percent","tenor":"3m"},{"duration_days":180,"rate_cc":4.2544270551079535,"rate":4.3,"unit":"percent","tenor":"6m"},{"duration_days":365,"rate_cc":4.391433470408428,"rate":4.44,"unit":"percent","tenor":"1y"},{"duration_days":730,"rate_cc":4.694471237028414,"rate":4.75,"unit":"percent","tenor":"2y"}]},{"id":"auction","as_of":"2026-10-13","computed_at":"2026-10-13T14:00:17.497Z","observed_max_tenor":365,"observed_bins":7,"provenance":{"observation_count":21,"distinct_counterparties":2,"distinct_external_counterparties":0,"external_share":0,"external_share_basis":"current fit population for this pair, active loans only","gate_a_threshold":0.5,"gate_a_share":0,"gate_a_source":"participation_metrics.m2 (2026-10-13)","is_independent_assessment":false,"disclosure":"Observations are currently predominantly own-account. Aletheia Analytics participates on own account to seed observable auction data. This is not yet an independent market assessment."},"points":[{"duration_days":7,"rate_cc":4.271749728641415,"rate":4.2735,"unit":"percent_apr","fitted":false},{"duration_days":30,"rate_cc":5.239402417022834,"rate":5.2507,"unit":"percent_apr","fitted":false},{"duration_days":90,"rate_cc":5.579049166075411,"rate":5.6176,"unit":"percent_apr","fitted":false},{"duration_days":180,"rate_cc":5.606670317287721,"rate":5.6849,"unit":"percent_apr","fitted":false},{"duration_days":365,"rate_cc":5.47021775376094,"rate":5.6226,"unit":"percent_apr","fitted":false}]},{"id":"posted-card","as_of":"2026-10-09","administered":true,"note":"The median of the fixed-term custodial desks' posted cards at each term (each product's latest card): administered, not market-cleared.","points":[{"duration_days":30,"rate_cc":10.454950782551736,"rate_cc_low":10.454950782551736,"rate_cc_high":10.498490015608345,"rate":10.5,"unit":"percent_apr","effective_date":"2026-07-21","desk_count":1,"administered":true,"cards":[{"desk":"xapo","product":"btc_backed_usd_30","rate":10.5,"rate_cc":10.454950782551736,"basis":"simple_bullet","basis_status":"assumed","rate_cc_low":10.454950782551736,"rate_cc_high":10.498490015608345}]},{"duration_days":90,"rate_cc":10.366376806892124,"rate_cc_low":10.366376806892124,"rate_cc_high":10.498490015608345,"rate":10.5,"unit":"percent_apr","effective_date":"2026-07-21","desk_count":1,"administered":true,"cards":[{"desk":"xapo","product":"btc_backed_usd_90","rate":10.5,"rate_cc":10.366376806892124,"basis":"simple_bullet","basis_status":"assumed","rate_cc_low":10.366376806892124,"rate_cc_high":10.498490015608345}]},{"duration_days":180,"rate_cc":11.981023761817486,"rate_cc_low":11.981023761817486,"rate_cc_high":12.307565159949387,"rate":12.35,"unit":"percent_apr","effective_date":"2026-07-21","desk_count":2,"administered":true,"cards":[{"desk":"strike","product":"volatility_proof","rate":14.2,"rate_cc":13.724862426493258,"basis":"simple_bullet","basis_status":"assumed","rate_cc_low":13.724862426493258,"rate_cc_high":14.116640304290428},{"desk":"xapo","product":"btc_backed_usd_180","rate":10.5,"rate_cc":10.237185097141714,"basis":"simple_bullet","basis_status":"assumed","rate_cc_low":10.237185097141714,"rate_cc_high":10.498490015608345}]},{"duration_days":365,"rate_cc":9.984533496971611,"rate_cc_low":9.984533496971611,"rate_cc_high":10.498490015608345,"rate":10.5,"unit":"percent_apr","effective_date":"2026-10-09","desk_count":5,"administered":true,"cards":[{"desk":"figure","product":"crypto_backed_loan","rate":9.999,"rate_cc":9.53010888539114,"basis":"simple_bullet","basis_status":"assumed","rate_cc_low":9.53010888539114,"rate_cc_high":9.997630661020489},{"desk":"ledn","product":"btc_backed_standard","rate":11.49,"rate_cc":10.876471479138875,"basis":"simple_bullet","basis_status":"assumed","rate_cc_low":10.876471479138875,"rate_cc_high":11.488191884925978},{"desk":"salt","product":"btc_backed","rate":8.75,"rate_cc":8.718253189694918,"basis":"monthly_nominal","basis_status":"established","rate_cc_low":8.718253189694918,"rate_cc_high":8.718253189694918},{"desk":"unchained","product":"commercial_btc_loan","rate":14.18,"rate_cc":13.26059645480217,"basis":"simple_bullet","basis_status":"assumed","rate_cc_low":13.26059645480217,"rate_cc_high":14.177246296737986},{"desk":"xapo","product":"btc_backed_usd_365","rate":10.5,"rate_cc":9.984533496971611,"basis":"simple_bullet","basis_status":"assumed","rate_cc_low":9.984533496971611,"rate_cc_high":10.498490015608345}]}]}]},"excluded":[{"id":"variable_defi","reason":"One pool rate repeated across terms is not a term structure; the pooled classes are on the past half, by window."},{"id":"leveraged","reason":"Perpetual funding is retired: Binance perpetual-futures data is not licensed for redistribution."},{"id":"corporate","side":"forward","reason":"Corporate perpetual preferreds have no maturity, so no point on the forward half; their yield is on the past half (lend leg)."}],"benchmarks":{"treasuries":{"label":"Treasuries","points":[]},"aave":{"label":"Aave","points":[]},"compound":{"label":"Compound","points":[]},"btc_funding":{"label":"BTC funding","points":[]}},"replaced":{"on":"2026-10-11","fields":["benchmarks.treasuries","benchmarks.aave","benchmarks.compound"],"reason":"Replaced by the signed curve in past and forward. The Treasuries are there, on both halves. The Aave and Compound trailing means of a third-party rate (DefiLlama) are not served here; their pools are among the pooled classes on the past half."},"retired":{"on":"2026-10-02","ruling":"PV1 R1","fields":["benchmarks.btc_funding"],"reason":"Retired 2026-10-02 (PV1 G0-2c): Binance perpetual-futures data is not licensed for redistribution. History retained, not served."},"attribution":[{"provider":"Board of Governors of the Federal Reserve System","text":"Source: Board of Governors of the Federal Reserve System (H.15, H.4.1, H.6).","url":"https://www.federalreserve.gov/releases/h15/","covers":"US Treasury yields, federal funds rate, prime rate, balance sheet, M2"}]},"unavailable":null},{"id":"onchain-latest","name":"On-chain Indicators (latest)","family":"onchain","units":"mixed","description":"The full commodity on-chain set in one response: MVRV, MVRV-z, SOPR (and 7d/z), realised cap and price, STH/LTH supply and cost basis, circulating supply, spot price.","live":true,"has_history":true,"as_known_on":false,"route":"/v1/onchain/indicators/latest","reading":{"date":"2026-10-12","circulating_supply_btc":"20097148.00034756","spot_price_usd":"81734.48","market_cap_usd":"1642629963518.81","realised_cap_usd":"1081049171863.14","realised_price_usd":"53791.17","mvrv":"1.5195","mvrv_z_score":"0.9165","supply_lth_btc":"16427688.37460741","supply_sth_btc":"3669459.62574015","pct_under_1d":"0.6505","pct_1d_1w":"2.2384","pct_1w_1m":"4.1633","pct_1m_3m":"6.9587","pct_3m_6m":"5.9829","pct_6m_12m":"16.8128","pct_1y_2y":"14.4728","pct_2y_3y":"6.2241","pct_3y_5y":"8.8284","pct_5y_7y":"7.4546","pct_7y_10y":"8.3349","pct_over_10y":"17.8344","utxos_included":"164905019","utxos_excluded_null_price":"37160","computed_at":"2026-10-13T01:01:34.097Z","realised_cap_lth_usd":"808762005090.88","realised_cap_sth_usd":"272287166772.26","realised_price_lth_usd":"49231.64","realised_price_sth_usd":"74203.61","sopr":"0.999992","sopr_7d_avg":"1.003799","sopr_z_score":"-0.3460","sopr_n_utxos":1226639,"limitation":null,"supply_priced_onchain_btc":"14519104.566409380000","realised_cap_onchain_usd":"1066962520605.87858199","attribution":[{"provider":"CoinGecko","text":"Powered by CoinGecko","url":"https://www.coingecko.com","covers":"BTC/USD price, and market capitalisation / dominance figures built on CoinGecko data"}]},"unavailable":null},{"id":"hodl-waves","name":"HODL Waves","family":"onchain","units":"percent of supply by age band","description":"UTXO supply distribution across twelve age bands, from under a day to over ten years.","live":true,"has_history":false,"history_elsewhere":"The twelve age bands through time are chain series, from 2009: chain.cohort.supply_age.<band>_btc (for example chain.cohort.supply_age.over_10y_btc), read with get_chain_series; list_chain_series lists them.","as_known_on":false,"route":"/v1/onchain/indicators/hodl-waves","reading":{"date":"2026-10-12","bands":[{"band":"<1d","column":"pct_under_1d","pct":0.6505},{"band":"1d–1w","column":"pct_1d_1w","pct":2.2384},{"band":"1w–1m","column":"pct_1w_1m","pct":4.1633},{"band":"1m–3m","column":"pct_1m_3m","pct":6.9587},{"band":"3m–6m","column":"pct_3m_6m","pct":5.9829},{"band":"6m–12m","column":"pct_6m_12m","pct":16.8128},{"band":"1y–2y","column":"pct_1y_2y","pct":14.4728},{"band":"2y–3y","column":"pct_2y_3y","pct":6.2241},{"band":"3y–5y","column":"pct_3y_5y","pct":8.8284},{"band":"5y–7y","column":"pct_5y_7y","pct":7.4546},{"band":"7y–10y","column":"pct_7y_10y","pct":8.3349},{"band":"10y+","column":"pct_over_10y","pct":17.8344}],"sum":99.95580000000001},"unavailable":null},{"id":"hpx","name":"Hashprice","family":"onchain","units":"BTC per PH/s per day (miner.hpx_btc); USD per PH/s per day as miner.hpx_usd","description":"Hashprice: what one PH/s of hashrate earned in a day (subsidy plus fees), in bitcoin and in dollars, from our own node. The miner's unit of account.","live":true,"has_history":true,"as_known_on":true,"route":"/v1/onchain/series/miner.hpx_btc","reading":{"id":"miner.hpx_btc","dataset":"miner","unit":"BTC_per_PHDAY","source":"gavel-btc Bitcoin Core node, getblock verbosity 3 (chain-cohort-pass.js)","limitation":null,"points":[{"date":"2026-09-29","value":0.000476475608,"kind":"exact"},{"date":"2026-09-30","value":0.000477608062,"kind":"exact"},{"date":"2026-10-01","value":0.000478259114,"kind":"exact"},{"date":"2026-10-02","value":0.000477669064,"kind":"exact"},{"date":"2026-10-03","value":0.000477235417,"kind":"exact"},{"date":"2026-10-04","value":0.000476147989,"kind":"exact"},{"date":"2026-10-05","value":0.00047600573,"kind":"exact"},{"date":"2026-10-06","value":0.000476148712,"kind":"exact"},{"date":"2026-10-07","value":0.000476228061,"kind":"exact"},{"date":"2026-10-08","value":0.000476943504,"kind":"exact"},{"date":"2026-10-09","value":0.000476890201,"kind":"exact"},{"date":"2026-10-10","value":0.000475821023,"kind":"exact"},{"date":"2026-10-11","value":0.000475969827,"kind":"exact"},{"date":"2026-10-12","value":0.00047652788,"kind":"exact"}],"licence":{"status":"own"},"vintage":{"as_known_on":null,"vintages":["miner@2026-10-08T11:37:50.080Z","miner@2026-10-09T02:01:31.776Z","miner@2026-10-10T02:01:57.972Z","miner@2026-10-11T02:02:05.710Z","miner@2026-10-12T02:02:11.248Z","miner@2026-10-13T02:02:35.284Z"]}},"unavailable":null},{"id":"stablecoins","name":"Stablecoin Supply","family":"market","units":"USD","description":"Stablecoin market cap, the liquidity backdrop for the lending side. Supply by issuer and chain is DefiLlama data and is currently withheld (returned as null); issuer and chain coverage is still listed. Stablecoin dominance is retired (2026-10-02) and returned as null. Payloads carry `withheld` and `retired` blocks naming each field returned as null and why.","live":true,"has_history":true,"as_known_on":false,"route":"/v1/market/stablecoins/current","reading":{"date":"2026-10-13","source_note":"Supply is summed from stablecoin_supply_history across every chain an issuer is deployed on. Market cap and dominance come from stablecoin_metrics, which is a different source and the only one carrying them. Supply figures are HIGHER than this endpoint served before 2026-08-01 because the chain coverage is wider, not because supply grew.","total_supply_usd":null,"issuers":[{"issuer":"USDT","supply_usd":null,"chains":105,"source":"defillama"},{"issuer":"USDC","supply_usd":null,"chains":129,"source":"defillama"},{"issuer":"USDS","supply_usd":null,"chains":7,"source":"defillama"},{"issuer":"USDe","supply_usd":null,"chains":30,"source":"defillama"},{"issuer":"DAI","supply_usd":null,"chains":36,"source":"defillama"},{"issuer":"PYUSD","supply_usd":null,"chains":18,"source":"defillama"},{"issuer":"FDUSD","supply_usd":null,"chains":6,"source":"defillama"}],"by_chain":[{"chain":"ethereum","supply_usd":null,"issuers":7},{"chain":"tron","supply_usd":null,"issuers":3},{"chain":"bsc","supply_usd":null,"issuers":5},{"chain":"solana","supply_usd":null,"issuers":7},{"chain":"hyperliquid l1","supply_usd":null,"issuers":3},{"chain":"base","supply_usd":null,"issuers":3},{"chain":"arbitrum","supply_usd":null,"issuers":7},{"chain":"polygon","supply_usd":null,"issuers":4},{"chain":"plasma","supply_usd":null,"issuers":2},{"chain":"avalanche","supply_usd":null,"issuers":6},{"chain":"aptos","supply_usd":null,"issuers":2},{"chain":"ton","supply_usd":null,"issuers":3},{"chain":"op mainnet","supply_usd":null,"issuers":6},{"chain":"mantle","supply_usd":null,"issuers":3},{"chain":"arc","supply_usd":null,"issuers":1},{"chain":"monad","supply_usd":null,"issuers":3},{"chain":"stellar","supply_usd":null,"issuers":1},{"chain":"robinhood chain","supply_usd":null,"issuers":1},{"chain":"sui","supply_usd":null,"issuers":3},{"chain":"fantom","supply_usd":null,"issuers":3},{"chain":"x layer","supply_usd":null,"issuers":3},{"chain":"kaia","supply_usd":null,"issuers":3},{"chain":"sonic","supply_usd":null,"issuers":1},{"chain":"starknet","supply_usd":null,"issuers":3},{"chain":"cronos","supply_usd":null,"issuers":1}],"coverage":{"issuers":7,"chains_total":146,"chains_returned":25,"note":"by_chain is the largest chains by supply, capped by ?chains= (default 25). The issuer totals above are over ALL chains, not just the ones listed."},"market_cap":{"total_stablecoin_mcap":261283031150.94,"stablecoin_dominance":null,"as_of":"2026-10-13","source":"stablecoin_metrics"},"total_stablecoin_mcap":261283031150.94,"stablecoin_dominance":null,"withheld":{"fields":["total_supply_usd","issuers[].supply_usd","by_chain[].supply_usd","<issuer>_supply"],"provider":"DefiLlama","absent_because":"Withheld: third-party source (DefiLlama), not redistributed."},"retired":{"on":"2026-10-02","ruling":"PV1 R1","fields":["market_cap.stablecoin_dominance","stablecoin_dominance"],"reason":"Retired 2026-10-02: total crypto market capitalisation has no root source. History retained, not served."},"usdt_supply":null,"usdc_supply":null,"usds_supply":null,"usde_supply":null,"dai_supply":null,"pyusd_supply":null,"fdusd_supply":null,"attribution":[{"provider":"CoinGecko","text":"Powered by CoinGecko","url":"https://www.coingecko.com","covers":"BTC/USD price, and market capitalisation / dominance figures built on CoinGecko data"}]},"unavailable":null},{"id":"macro","name":"Macro Context","family":"market","units":"mixed","description":"Treasury yields and macro series used as benchmark inputs.","live":true,"has_history":true,"as_known_on":false,"route":"/v1/market/macro/current","reading":{"date":"2026-10-09","fed_funds":3.88,"sofr":3.87,"usd_1m":4.14,"usd_3m":4.23,"usd_6m":4.3,"usd_1y":4.44,"usd_2y":4.75,"usd_3y":4.85,"usd_5y":4.99,"usd_7y":5.11,"usd_10y":5.22,"usd_20y":5.64,"usd_30y":5.6,"ted_spread":null,"prime_rate":7,"fed_balance_sheet":6747560,"reverse_repo":0.3,"m2_supply":23342.8,"dxy":null,"fetched_at":{},"as_of":{"fed_funds":"2026-10-08","sofr":"2026-10-08","usd_1m":"2026-10-08","usd_3m":"2026-10-08","usd_6m":"2026-10-08","usd_1y":"2026-10-08","usd_2y":"2026-10-08","usd_3y":"2026-10-08","usd_5y":"2026-10-08","usd_7y":"2026-10-08","usd_10y":"2026-10-08","usd_20y":"2026-10-08","usd_30y":"2026-10-08","prime_rate":"2026-10-04","fed_balance_sheet":"2026-10-07","reverse_repo":"2026-10-09","m2_supply":"2026-08-01","dxy":null},"absent":{"ted_spread":"Discontinued: the TED spread was a LIBOR-based series that ended in 2022; no issuer publishes it.","dxy":"Retired 2026-10-02 (PV1 G0-2f): DXY has no issuer source."},"attribution":[{"provider":"Board of Governors of the Federal Reserve System","text":"Source: Board of Governors of the Federal Reserve System (H.15, H.4.1, H.6).","url":"https://www.federalreserve.gov/releases/h15/","covers":"US Treasury yields, federal funds rate, prime rate, balance sheet, M2"},{"provider":"Federal Reserve Bank of New York","text":"SOFR, EFFR and ON RRP data are subject to the Terms of Use posted at newyorkfed.org. The New York Fed is not responsible for publication of these data by Aletheia Analytics, does not sanction or endorse any particular republication, and has no liability for your use. Aletheia Analytics is not affiliated with the New York Fed. SOFR is calculated using data provided under a license granted to the New York Fed by DTCC Solutions LLC.","url":"https://www.newyorkfed.org/markets/reference-rates","covers":"SOFR, EFFR, ON RRP"}]},"unavailable":null},{"id":"btc-price","name":"BTC Reference Price (on-chain)","family":"market","units":"USDBASKET_per_BTC (basket dollars, not fiat)","description":"Our own daily BTC price, read on chain: the median across bitcoin wrappers (WBTC, cbBTC) of their pools against USDC and USDT, priced in a basket of dollar stablecoins, from 2020-07-13. Not CoinGecko. Each wrapper’s own peg is published separately. Recast on 2026-10-09 from a CoinGecko spot price.","live":true,"has_history":true,"as_known_on":true,"route":"/v1/onchain/series/price.btc_in_basket","reading":{"id":"price.btc_in_basket","dataset":"reference_price","unit":"USDBASKET_per_BTC","source":"gavel-btc on-chain reads: eth:uni3:WBTC/USDC:0.3, eth:curve:tricryptoNG:WBTC/USDC, base:uni3:cbBTC/USDC:0.05, eth:uni3:WBTC/USDT:0.3, eth:curve:tricrypto2:WBTC/USDT, eth:curve:tricryptoNG:WBTC/USDT, eth:uni2:WBTC/WETH+WETH/USDC","limitation":"Median across BTC wrappers (WBTC, cbBTC); each wrapper's own peg is published separately. Priced in basket dollars, not fiat.","points":[{"date":"2026-09-29","value":83544.00695156773,"kind":"cross_checked"},{"date":"2026-09-30","value":83669.11267449883,"kind":"cross_checked"},{"date":"2026-10-01","value":84690.09083662725,"kind":"cross_checked"},{"date":"2026-10-02","value":84320.39492458824,"kind":"cross_checked"},{"date":"2026-10-03","value":84836.01122636771,"kind":"cross_checked"},{"date":"2026-10-04","value":86457.56685132737,"kind":"cross_checked"},{"date":"2026-10-05","value":85820.71296293756,"kind":"cross_checked"},{"date":"2026-10-06","value":85567.33627714808,"kind":"cross_checked"},{"date":"2026-10-07","value":83314.24063557338,"kind":"cross_checked"},{"date":"2026-10-08","value":81718.24096267838,"kind":"cross_checked"},{"date":"2026-10-09","value":82449.8789350644,"kind":"cross_checked"},{"date":"2026-10-10","value":82869.67954915605,"kind":"cross_checked"},{"date":"2026-10-11","value":83437.02947799253,"kind":"cross_checked"},{"date":"2026-10-12","value":81734.48110599573,"kind":"cross_checked"}],"licence":{"status":"own"},"vintage":{"as_known_on":null,"vintages":["reference_price@2026-10-12T10:24:00.613Z","reference_price@2026-10-13T01:00:01.083Z"]}},"unavailable":null},{"id":"bcsi","name":"Bitcoin Collateral Share Index","family":"market","units":"index (100 on 2022-09-19)","description":"How much of all bitcoin is pledged against debt, with new venues kept from moving it. Bitcoin posted as collateral across the lien-backed venues read on both consecutive dates, over spendable supply from our own node; chain-linked, 100 on 2022-09-19. The plain share sits beside it: the gap is coverage arriving. Not a measure of leverage or of risk. Its payload carries own_account (Gavel, included and disclosed).","live":true,"has_history":true,"as_known_on":true,"route":"/v1/market/index/bcsi","reading":{"id":"bcsi","name":"Bitcoin Collateral Share Index","series_id":"cx.index.bcsi","unit":"index","question":"How has the bitcoin posted as collateral against lien-backed debt moved as a share of all spendable bitcoin, with venues entering the data kept from moving it?","base":{"date":"2022-09-19","value":100},"date":"2026-10-12","value":135.3139305132,"kind":"derived","prior_date":"2026-10-11","matched":90,"matched_share":1,"entered":[],"left":[],"own_account":[{"share":0.000002,"venue":"gavel_arbitrum"}],"vintage_id":"cx@2026-10-13T08:15:00.530Z","plain":{"series_id":"cx.market.secured.collateral_share_of_supply","date":"2026-10-12","value":0.010950633589287,"unit":"ratio","note":"The same measure without chain-linking: it moves when venues enter the data as well as when the market moves."},"methodology":{"version":"bcsi_v1","url":"https://www.bitcoincreditstack.com/indicators/bcsi","change_notice":"A change to the definition, inputs or coverage rule is published 30 days before it takes effect, as a new methodology version; past values are never rewritten in place (every version is kept)."},"disclosure":"Aletheia Analytics SASU operates the website interface at thegavel.io and runs automated agents for its own account on the Gavel venue (gavel_arbitrum), which this index includes; its weight on each date is in own_account. The Gavel Protocol itself is autonomous code that Aletheia does not operate.","limitation":"Bitcoin Collateral Share Index: bitcoin posted as collateral against lien-backed debt as a share of spendable supply, chain-linked, 100 on 2022-09-19. Each step uses only the venues whose collateral was read on both dates (90; 100.0% of today's lien-backed collateral), so a venue entering or leaving never moves it; the plain share is cx.market.secured.collateral_share_of_supply. Desk collateral is partly price-derived. Wrapped bitcoin is counted in wrapper units. Supply is spendable supply at the end of the snapshot's UTC day (chain.cohort.supply_btc): OP_RETURN outputs, the genesis coinbase and the two BIP30-overwritten coinbases are excluded, so it sits a little below issued supply. Descriptive, not a forecast or a signal. Changes are published 30 days ahead. Observational: one credit cycle, from 2022-09-19.","source":"Derived in the vintage store: credit_tree venue collateral ÷ chain_series supply, chain-linked (bcsi_v1)","sample":"One credit cycle, from 2022-09-19: observational."},"unavailable":null},{"id":"bsbs","name":"Bitcoin-Secured Borrow Spread","family":"market","units":"percent_cc (points over the 3-month bill)","description":"What borrowing against bitcoin costs over Treasury bills, across venues. The dollar-debt-weighted borrow rate over the venues with a rate on both dates, minus the 3-month bill (H.15), continuously compounded; anchored to the plain spread on 2022-09-19. Not a reference rate any contract uses, and not a forecast; desk rates in it are posted, not cleared. Its payload carries own_account (Gavel, included and disclosed).","live":true,"has_history":true,"as_known_on":true,"route":"/v1/market/index/bsbs","reading":{"id":"bsbs","name":"Bitcoin-Secured Borrow Spread","series_id":"cx.index.bsbs","unit":"percent_cc","question":"What do borrowers pay against bitcoin collateral across venues, over the 3-month US Treasury bill, with venues entering the data kept from moving it?","base":{"date":"2022-09-19","value":"the plain spread that day"},"date":"2026-10-08","value":0.688361510172,"kind":"derived","prior_date":"2026-10-07","matched":81,"matched_share":1,"entered":[],"left":[],"own_account":[{"share":0.000002,"venue":"gavel_arbitrum"}],"vintage_id":"cx@2026-10-13T08:15:00.530Z","plain":{"series_id":"cx.market.secured.borrow_spread_over_ust_3m","date":"2026-10-08","value":1.918148082155,"unit":"percent_cc","note":"The same measure without chain-linking: it moves when venues enter the data as well as when the market moves."},"methodology":{"version":"bsbs_v1","url":"https://www.bitcoincreditstack.com/indicators/bsbs","change_notice":"A change to the definition, inputs or coverage rule is published 30 days before it takes effect, as a new methodology version; past values are never rewritten in place (every version is kept)."},"disclosure":"Aletheia Analytics SASU operates the website interface at thegavel.io and runs automated agents for its own account on the Gavel venue (gavel_arbitrum), which this index includes; its weight on each date is in own_account. The Gavel Protocol itself is autonomous code that Aletheia does not operate.","limitation":"Bitcoin-Secured Borrow Spread: the rate borrowers pay against bitcoin collateral over the 3-month Treasury bill (2026-10-08, constant maturity, converted to continuous compounding, 2·ln(1 + y/2)), in points. Anchored to the plain spread on 2022-09-19; each step adds the change in the dollar-debt-weighted borrow rate over the venues with a rate and debt on both dates (81; 100.0% of today's rated debt), so a venue entering or leaving never moves it; the plain spread is cx.market.secured.borrow_spread_over_ust_3m. Variable rates against a three-month bill: the terms differ. Desk rates are posted, not cleared. Descriptive, not a forecast, and no contract is known to reference it. Changes are published 30 days ahead. Observational: one credit cycle, from 2022-09-19.","source":"Derived in the vintage store: credit_tree venue rates and debt − macro 3-month bill, chain-linked (bsbs_v1)","sample":"One credit cycle, from 2022-09-19: observational.","attribution":[{"provider":"Board of Governors of the Federal Reserve System","text":"Source: Board of Governors of the Federal Reserve System (H.15, H.4.1, H.6).","url":"https://www.federalreserve.gov/releases/h15/","covers":"US Treasury yields, federal funds rate, prime rate, balance sheet, M2"}]},"unavailable":null},{"id":"wrc","name":"Wrapper Reserve Coverage","family":"market","units":"ratio per wrapper","description":"Whether each wrapped bitcoin is backed, read on our own node. For WBTC, tBTC, kBTC and cdcBTC: bitcoin at the issuer-published addresses, scanned daily, over the token supply read on chain (or the issuer's figure, where marked). One value per wrapper, never combined; not a rating or an audit. Wrappers without a full published list are listed with the reason.","live":true,"has_history":true,"as_known_on":true,"route":"/v1/market/index/wrc","reading":{"id":"wrc","name":"Wrapper Reserve Coverage","unit":"ratio","question":"For each bitcoin wrapper, how much bitcoin is held at the addresses its issuer publishes, read on our own node, over the token's supply?","note":"One value per wrapper, never combined: an aggregate would let one wrapper's surplus hide another's shortfall. Above 1 means more bitcoin is held than tokens are issued. A verification series, not a rating: no verdict.","members":[{"wrapper":"wbtc","series_id":"reserve.wbtc.reserve_over_supply","date":"2026-10-13","value":1.000109889605,"kind":"derived","onchain_btc":116511.99287643,"supply":116499.19082629,"supply_kind":"observed","height":971183,"limitation":"Bitcoin held at the published addresses over the token supply as the issuer reports it. Above 1 means more bitcoin is held than tokens issued. Observational. Issuer-reported. Native mints on Ethereum, Solana, Tron, BNB Chain, Base, Kava and Osmosis (2026-10-08); not yet read on chain by us.","vintage_id":"reserves@2026-10-13T03:33:03.667Z"},{"wrapper":"tbtc","series_id":"reserve.tbtc.reserve_over_supply","date":"2026-10-13","value":1.031305238474,"kind":"derived","onchain_btc":4245.5528244,"supply":4116.67920031,"supply_kind":"exact","height":971183,"limitation":"Bitcoin held at the published addresses over the token supply. Above 1 means more bitcoin is held than tokens issued. Observational. Ethereum's totalSupply is the whole supply: L2 tBTC is minted by a gateway only after tBTC is locked in the bridge's contract on L1.","vintage_id":"reserves@2026-10-13T03:33:03.667Z"},{"wrapper":"kbtc","series_id":"reserve.kbtc.reserve_over_supply","date":"2026-10-13","value":1.038118965768,"kind":"derived","onchain_btc":9471.36938552,"supply":9123.58765983,"supply_kind":"exact","height":971183,"limitation":"Bitcoin held at the published addresses over the token supply. Above 1 means more bitcoin is held than tokens issued. Observational. Whitepaper v1.1: 'the total kBTC supply can be found in' the Ink, Unichain, OP Mainnet and Ethereum contracts, so the four are summed. The cross-chain design (LayerZero OFT, reported moving to Chainlink CCIP) is documented only by third parties; if any chain holds a lockbox, the sum double-counts and understates the ratio.","vintage_id":"reserves@2026-10-13T03:33:03.667Z"},{"wrapper":"cdcbtc","series_id":"reserve.cdcbtc.reserve_over_supply","date":"2026-10-13","value":1.000000019075,"kind":"derived","onchain_btc":173.0000033,"supply":173,"supply_kind":"exact","height":971183,"limitation":"Bitcoin held at the published addresses over the token supply. Above 1 means more bitcoin is held than tokens issued. Observational. The issuer confirms only Cronos (whitepaper v1.0: 'initially made available on Cronos Chain'; help articles 2025); minted only after BTC reaches the reserve wallet. Cronos totalSupply read 173.0 on 2026-10-08, equal to the issuer's stated total supply, so no other deployment is assumed; a new chain would need adding here.","vintage_id":"reserves@2026-10-13T03:33:03.667Z"}],"not_members":[{"wrapper":"fbtc","reason":"supply incomplete: creation on Solana and Pharos is not documented"},{"wrapper":"cbbtc","reason":"the published address list is partial (20 addresses, about 75% of the stated reserve)"},{"wrapper":"lbtc","reason":"no reserve addresses are published"},{"wrapper":"btcb","reason":"no reserve addresses are published"},{"wrapper":"ubtc","reason":"its treasury address verifies nothing"},{"wrapper":"ebtc","reason":"backed by other wrappers, not by bitcoin directly"},{"wrapper":"unibtc","reason":"backed by other wrappers, not by bitcoin directly"}],"methodology":{"version":"wrc_v1","url":"https://www.bitcoincreditstack.com/indicators/wrc","change_notice":"A change to the definition, inputs or coverage rule is published 30 days before it takes effect, as a new methodology version; past values are never rewritten in place (every version is kept)."},"source":"Bitcoin at the issuer-published addresses, read on our own node (scantxoutset); supply from the token contracts, or the issuer's figure where marked observed."},"unavailable":null},{"id":"collateral-share","name":"Bitcoin collateral as a share of supply","family":"market","units":"ratio","description":"Q2b. The share of all spendable bitcoin posted as collateral against lien-backed debt: the market, each class and the fixed 2022 panel, as read on each date. Coverage steps (venues entering) are named on every value, never smoothed; the chain-linked version is bcsi. Descriptive, not an index.","live":true,"has_history":true,"as_known_on":true,"route":"/v1/market/measure/collateral-share","reading":{"id":"collateral-share","name":"Bitcoin collateral as a share of supply","measure":"CX-Q2b","question":"What share of all spendable bitcoin is posted as collateral against lien-backed debt, for the market, each class and the fixed 2022 panel?","headline":"cx.market.secured.collateral_share_of_supply","source":"Derived in the vintage store: credit_tree ÷ chain_series","series":[{"series_id":"cx.market.secured.collateral_share_of_supply","date":"2026-10-12","value":0.010950633589287,"unit":"ratio","kind":"derived","entered":[],"coverage":{"in":90,"of":128},"limitation":"Collateral is what the credit tree read: 90 of 128 venues on this date. A venue's first reading is a coverage step, named in attrs.entered, never smoothed. Wrapped bitcoin is counted in wrapper units; a wrapper is not the coin. Supply is spendable supply at the end of the snapshot's UTC day (chain.cohort.supply_btc): OP_RETURN outputs, the genesis coinbase and the two BIP30-overwritten coinbases are excluded, so it sits a little below issued supply. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.530Z"},{"series_id":"cx.class.algorithmic.collateral_share_of_supply","date":"2026-10-12","value":0.007972193071692,"unit":"ratio","kind":"derived","entered":[],"coverage":{"in":79,"of":98},"limitation":"Collateral is what the credit tree read: 79 of 98 venues on this date. A venue's first reading is a coverage step, named in attrs.entered, never smoothed. Wrapped bitcoin is counted in wrapper units; a wrapper is not the coin. Supply is spendable supply at the end of the snapshot's UTC day (chain.cohort.supply_btc): OP_RETURN outputs, the genesis coinbase and the two BIP30-overwritten coinbases are excluded, so it sits a little below issued supply. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.530Z"},{"series_id":"cx.class.auction.collateral_share_of_supply","date":"2026-10-12","value":2.2666674e-8,"unit":"ratio","kind":"derived","entered":[],"coverage":{"in":1,"of":1},"limitation":"Collateral is what the credit tree read: 1 of 1 venues on this date. A venue's first reading is a coverage step, named in attrs.entered, never smoothed. Wrapped bitcoin is counted in wrapper units; a wrapper is not the coin. Supply is spendable supply at the end of the snapshot's UTC day (chain.cohort.supply_btc): OP_RETURN outputs, the genesis coinbase and the two BIP30-overwritten coinbases are excluded, so it sits a little below issued supply. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.530Z"},{"series_id":"cx.class.minted.collateral_share_of_supply","date":"2026-10-12","value":0.000070019462014,"unit":"ratio","kind":"derived","entered":[],"coverage":{"in":5,"of":5},"limitation":"Collateral is what the credit tree read: 5 of 5 venues on this date. A venue's first reading is a coverage step, named in attrs.entered, never smoothed. Wrapped bitcoin is counted in wrapper units; a wrapper is not the coin. Supply is spendable supply at the end of the snapshot's UTC day (chain.cohort.supply_btc): OP_RETURN outputs, the genesis coinbase and the two BIP30-overwritten coinbases are excluded, so it sits a little below issued supply. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.530Z"},{"series_id":"cx.class.posted-card.collateral_share_of_supply","date":"2026-10-12","value":0.002908398388907,"unit":"ratio","kind":"derived","entered":[],"coverage":{"in":5,"of":24},"limitation":"Collateral is what the credit tree read: 5 of 24 venues on this date. A venue's first reading is a coverage step, named in attrs.entered, never smoothed. Wrapped bitcoin is counted in wrapper units; a wrapper is not the coin. Supply is spendable supply at the end of the snapshot's UTC day (chain.cohort.supply_btc): OP_RETURN outputs, the genesis coinbase and the two BIP30-overwritten coinbases are excluded, so it sits a little below issued supply. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.530Z"},{"series_id":"cx.class.unclassed.collateral_share_of_supply","date":"2026-10-12","value":null,"unit":"ratio","kind":"absent:input_absent","entered":[],"coverage":{"in":0,"of":1},"input_kind":"absent:not_read","limitation":"Collateral is what the credit tree read: 0 of 1 venues on this date. A venue's first reading is a coverage step, named in attrs.entered, never smoothed. Wrapped bitcoin is counted in wrapper units; a wrapper is not the coin. Supply is spendable supply at the end of the snapshot's UTC day (chain.cohort.supply_btc): OP_RETURN outputs, the genesis coinbase and the two BIP30-overwritten coinbases are excluded, so it sits a little below issued supply. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.530Z"},{"series_id":"cx.panel_2022.secured.collateral_share_of_supply","date":"2026-10-12","value":0.001072234895878,"unit":"ratio","kind":"derived","panel":["aave_v1_ethereum","aave_v2_avalanche","aave_v2_ethereum","aave_v2_polygon","aave_v3_arbitrum","aave_v3_avalanche","aave_v3_optimism","aave_v3_polygon","benqi_lending_avalanche","compound_v2_ethereum","compound_v3_ethereum","moonwell_lending_moonbeam","sky_ethereum","tectonic_cronos","venus_core_pool_bsc"],"limitation":"The 15 venues that held bitcoin collateral on 2022-09-19, whatever has entered since. Absent on any date a member was not read. Wrapped bitcoin is counted in wrapper units. Supply is spendable supply at the end of the snapshot's UTC day (chain.cohort.supply_btc): OP_RETURN outputs, the genesis coinbase and the two BIP30-overwritten coinbases are excluded, so it sits a little below issued supply. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.530Z"}],"methodology":{"url":"https://www.bitcoincreditstack.com/indicators/collateral-share","note":"Changes to how a measure is derived are recorded in the runbook and every published version is kept (as_known_on)."},"sample":"One credit cycle, from 2022-09-19: observational. Descriptive, not a forecast or a signal, and not an index."},"unavailable":null},{"id":"holdings-share","name":"Corporate bitcoin holdings as a share of supply","family":"market","units":"ratio","description":"Q2c. The share of spendable bitcoin held by the issuers in the registry, from their filings: steps at filing dates, and holdings, not collateral (no lien). Descriptive, not an index.","live":true,"has_history":true,"as_known_on":true,"route":"/v1/market/measure/holdings-share","reading":{"id":"holdings-share","name":"Corporate bitcoin holdings as a share of supply","measure":"CX-Q2c","question":"What share of all spendable bitcoin do the issuers in the registry hold, from their filings? Holdings, not collateral: there is no lien.","headline":"cx.class.corporate.holdings_share_of_supply","source":"Derived in the vintage store: credit_tree ÷ chain_series","series":[{"series_id":"cx.class.corporate.holdings_share_of_supply","date":"2026-10-12","value":0.047163480221463,"unit":"ratio","kind":"derived","coverage":{"in":6,"of":6},"limitation":"Holdings of the issuers in the registry, from their filings: the series moves in steps at filing dates, and purchases between filings are not read. Holdings are not collateral: no lien. Supply is spendable supply at the end of the snapshot's UTC day (chain.cohort.supply_btc): OP_RETURN outputs, the genesis coinbase and the two BIP30-overwritten coinbases are excluded, so it sits a little below issued supply. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.530Z"}],"methodology":{"url":"https://www.bitcoincreditstack.com/indicators/holdings-share","note":"Changes to how a measure is derived are recorded in the runbook and every published version is kept (as_known_on)."},"sample":"One credit cycle, from 2022-09-19: observational. Descriptive, not a forecast or a signal, and not an index."},"unavailable":null},{"id":"liq-over-realised","name":"Liquidation price over realised price","family":"market","units":"ratio","description":"Q8. Where the book liquidates as a multiple of the realised price, for the market and the pool and minted classes. Rests on CoinGecko prices for coins created before 2020-07-13: free, attributed use only (licence on every value). Descriptive, not an index.","live":true,"has_history":true,"as_known_on":true,"route":"/v1/market/measure/liq-over-realised","reading":{"id":"liq-over-realised","name":"Liquidation price over realised price","measure":"CX-Q8","question":"Where does the book liquidate, as a multiple of the price the average coin last moved at?","headline":"cx.market.secured.liq_price_over_realised_price","source":"Derived in the vintage store: credit_tree ÷ chain_series","series":[{"series_id":"cx.market.secured.liq_price_over_realised_price","date":"2026-10-12","value":0.858543696180553,"unit":"ratio","kind":"derived","licence":"free_attributed_only","coverage":{"in":46,"of":128,"markets":{"in":27,"of":27,"weight_in_usd":2494757534.990882,"weight_of_usd":2494757534.990882}},"coingecko_share":0.013027,"limitation":"The book's liquidation price as the credit tree states it (the priced books of 46 of 128 venues taken as one position — an aggregate, not a forecast), in the loan's dollar (stablecoin face), over the realised price: USD from CoinGecko for coins created before 2020-07-13 and the on-chain basket dollar since; the two dollars differ by basis points. Rests on CoinGecko prices (attrs.coingecko_share): free, attributed surfaces only. A coverage step in the book moves the ratio without the market moving. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.530Z"},{"series_id":"cx.class.algorithmic.liq_price_over_realised_price","date":"2026-10-12","value":0.859358891506444,"unit":"ratio","kind":"derived","licence":"free_attributed_only","coverage":{"in":45,"of":98,"markets":{"in":27,"of":27,"weight_in_usd":2494757534.990882,"weight_of_usd":2494757534.990882}},"coingecko_share":0.013027,"limitation":"The book's liquidation price as the credit tree states it (the priced books of 45 of 98 venues taken as one position — an aggregate, not a forecast), in the loan's dollar (stablecoin face), over the realised price: USD from CoinGecko for coins created before 2020-07-13 and the on-chain basket dollar since; the two dollars differ by basis points. Rests on CoinGecko prices (attrs.coingecko_share): free, attributed surfaces only. A coverage step in the book moves the ratio without the market moving. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.530Z"},{"series_id":"cx.class.minted.liq_price_over_realised_price","date":"2026-10-12","value":0.760727660892294,"unit":"ratio","kind":"derived","licence":"free_attributed_only","coverage":{"in":1,"of":5},"coingecko_share":0.013027,"limitation":"The book's liquidation price as the credit tree states it (the priced books of 1 of 5 venues taken as one position — an aggregate, not a forecast), in the loan's dollar (stablecoin face), over the realised price: USD from CoinGecko for coins created before 2020-07-13 and the on-chain basket dollar since; the two dollars differ by basis points. Rests on CoinGecko prices (attrs.coingecko_share): free, attributed surfaces only. A coverage step in the book moves the ratio without the market moving. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.530Z"}],"methodology":{"url":"https://www.bitcoincreditstack.com/indicators/liq-over-realised","note":"Changes to how a measure is derived are recorded in the runbook and every published version is kept (as_known_on)."},"licence":"free_attributed_only","licence_note":"Rests on CoinGecko prices for coins created before 2020-07-13 (coingecko_share on each value): for free, attributed use only, never resold or redistributed in bulk.","sample":"One credit cycle, from 2022-09-19: observational. Descriptive, not a forecast or a signal, and not an index.","attribution":[{"provider":"CoinGecko","text":"Powered by CoinGecko","url":"https://www.coingecko.com","covers":"BTC/USD price, and market capitalisation / dominance figures built on CoinGecko data"}]},"unavailable":null},{"id":"debt-over-realised-cap","name":"Secured debt over realised cap","family":"market","units":"ratio","description":"Q2a. Bitcoin-secured dollar debt over realised cap. Rests on CoinGecko prices for coins created before 2020-07-13: free, attributed use only. Descriptive, not an index.","live":true,"has_history":true,"as_known_on":true,"route":"/v1/market/measure/debt-over-realised-cap","reading":{"id":"debt-over-realised-cap","name":"Secured debt over realised cap","measure":"CX-Q2a","question":"How large is bitcoin-secured dollar debt against the value of all bitcoin at the price each coin last moved?","headline":"cx.market.secured.debt_over_realised_cap","source":"Derived in the vintage store: credit_tree ÷ chain_series","series":[{"series_id":"cx.market.secured.debt_over_realised_cap","date":"2026-10-12","value":0.006381291713648,"unit":"ratio","kind":"derived","licence":"free_attributed_only","coverage":{"in":58,"of":128},"coingecko_share":0.013027,"limitation":"Secured debt (dollar loans, 58 of 128 venues) over realised cap: USD from CoinGecko for coins created before 2020-07-13 and the on-chain basket dollar since. Rests on CoinGecko prices (attrs.coingecko_share): free, attributed surfaces only. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.530Z"}],"methodology":{"url":"https://www.bitcoincreditstack.com/indicators/debt-over-realised-cap","note":"Changes to how a measure is derived are recorded in the runbook and every published version is kept (as_known_on)."},"licence":"free_attributed_only","licence_note":"Rests on CoinGecko prices for coins created before 2020-07-13 (coingecko_share on each value): for free, attributed use only, never resold or redistributed in bulk.","sample":"One credit cycle, from 2022-09-19: observational. Descriptive, not a forecast or a signal, and not an index.","attribution":[{"provider":"CoinGecko","text":"Powered by CoinGecko","url":"https://www.coingecko.com","covers":"BTC/USD price, and market capitalisation / dominance figures built on CoinGecko data"}]},"unavailable":null},{"id":"borrow-spread","name":"Borrow spread over the 3-month bill","family":"market","units":"percent_cc","description":"Q5. The credit tree’s borrow rate minus the 3-month Treasury bill (H.15, continuously compounded), for the market and each class, as read on each date: coverage steps move it. The chain-linked version is bsbs. Descriptive, not an index.","live":true,"has_history":true,"as_known_on":true,"route":"/v1/market/measure/borrow-spread","reading":{"id":"borrow-spread","name":"Borrow spread over the 3-month bill","measure":"CX-Q5","question":"What do borrowers pay against bitcoin collateral over the 3-month US Treasury bill, as read on each date (coverage steps included)?","headline":"cx.market.secured.borrow_spread_over_ust_3m","source":"Derived in the vintage store: credit_tree − macro","series":[{"series_id":"cx.market.secured.borrow_spread_over_ust_3m","date":"2026-10-08","value":1.918148082155,"unit":"percent_cc","kind":"derived","coverage":{"in":81,"of":128},"bill_date":"2026-10-08","limitation":"The credit tree's borrow rate (weighted by dollar debt for 81 of 128 venues; 5 posted rate(s) carry no weight and are not in it), continuously compounded, minus the 3-month Treasury constant-maturity yield of 2026-10-08 converted from its bond-equivalent basis to continuous compounding, 2·ln(1 + y/2). A variable rate against a three-month bill: the terms differ and are not matched. Desk rates in it are posted, not cleared. A coverage step in the rate (venues entering) moves the spread without the market moving. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-10T08:15:00.522Z"},{"series_id":"cx.class.algorithmic.borrow_spread_over_ust_3m","date":"2026-10-08","value":0.642266599482,"unit":"percent_cc","kind":"derived","coverage":{"in":72,"of":98},"bill_date":"2026-10-08","limitation":"The credit tree's borrow rate (weighted by dollar debt for 72 of 98 venues), continuously compounded, minus the 3-month Treasury constant-maturity yield of 2026-10-08 converted from its bond-equivalent basis to continuous compounding, 2·ln(1 + y/2). A variable rate against a three-month bill: the terms differ and are not matched. Desk rates in it are posted, not cleared. A coverage step in the rate (venues entering) moves the spread without the market moving. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-10T08:15:00.522Z"},{"series_id":"cx.class.minted.borrow_spread_over_ust_3m","date":"2026-10-08","value":3.354990898138,"unit":"percent_cc","kind":"derived","coverage":{"in":3,"of":5},"bill_date":"2026-10-08","limitation":"The credit tree's borrow rate (weighted by dollar debt for 3 of 5 venues), continuously compounded, minus the 3-month Treasury constant-maturity yield of 2026-10-08 converted from its bond-equivalent basis to continuous compounding, 2·ln(1 + y/2). A variable rate against a three-month bill: the terms differ and are not matched. Desk rates in it are posted, not cleared. A coverage step in the rate (venues entering) moves the spread without the market moving. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-10T08:15:00.522Z"},{"series_id":"cx.class.posted-card.borrow_spread_over_ust_3m","date":"2026-10-08","value":8.636601464347,"unit":"percent_cc","kind":"derived","coverage":{"in":5,"of":24},"bill_date":"2026-10-08","limitation":"The credit tree's borrow rate (weighted by dollar debt for 5 of 24 venues; 5 posted rate(s) carry no weight and are not in it), continuously compounded, minus the 3-month Treasury constant-maturity yield of 2026-10-08 converted from its bond-equivalent basis to continuous compounding, 2·ln(1 + y/2). A variable rate against a three-month bill: the terms differ and are not matched. Desk rates in it are posted, not cleared. A coverage step in the rate (venues entering) moves the spread without the market moving. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-10T08:15:00.522Z"}],"methodology":{"url":"https://www.bitcoincreditstack.com/indicators/borrow-spread","note":"Changes to how a measure is derived are recorded in the runbook and every published version is kept (as_known_on)."},"sample":"One credit cycle, from 2022-09-19: observational. Descriptive, not a forecast or a signal, and not an index.","attribution":[{"provider":"Board of Governors of the Federal Reserve System","text":"Source: Board of Governors of the Federal Reserve System (H.15, H.4.1, H.6).","url":"https://www.federalreserve.gov/releases/h15/","covers":"US Treasury yields, federal funds rate, prime rate, balance sheet, M2"}]},"unavailable":null},{"id":"costbasis-near-liquidation","name":"Supply whose cost basis sits in the liquidation bands","family":"market","units":"BTC","description":"Q1. Bitcoin that last moved at a price within 10, 20 or 30% below the market mark, beside the debt in the same liquidation bands. Some dates rest on CoinGecko prices (licence on every value). Descriptive, not a forecast.","live":true,"has_history":true,"as_known_on":true,"route":"/v1/market/measure/costbasis-near-liquidation","reading":{"id":"costbasis-near-liquidation","name":"Supply whose cost basis sits in the liquidation bands","measure":"CX-Q1","question":"How much bitcoin last moved at a price within 10, 20 or 30% below the market mark, where the liquidation bands sit?","headline":"cx.market.secured.supply_costbasis_within_20","source":"Derived: OC1 chain_cost_basis_at (gavel_data_mainnet) against HX1 credit_liq_venue_daily marks","series":[{"series_id":"cx.market.secured.supply_costbasis_within_20","date":"2026-10-13","value":3084032.46633547,"unit":"BTC","kind":"derived","mark":"83368.71231777665994709477743","venues":30,"licence":"unrestricted","coingecko_btc":"0.00000000","cost_basis_day":"2026-10-13","coingecko_share":0,"limitation":"Bitcoin whose cost basis (the price of the day each coin last moved) lies within 20% below the market mark, i.e. in [80% of the mark, the mark). The mark is a debt-weighted mean of the venues' own marks (30 venues bucketed that day), not a price any venue liquidates against; HX1's bands measure each venue against its own mark. Before 2026-10-08 the map holds Sky alone, so the band is Sky's (a coverage step on 2026-10-08). Log cost-basis buckets (ratio 1.001) assigned by their geometric midpoint: an error of at most one bucket at each edge. An identity beside the debt in the band, not a reading of what a fall would do. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.market.secured.supply_costbasis_within_10","date":"2026-10-13","value":1911161.61286116,"unit":"BTC","kind":"derived","mark":"83368.71231777665994709477743","venues":30,"licence":"unrestricted","coingecko_btc":"0.00000000","cost_basis_day":"2026-10-13","coingecko_share":0,"limitation":"Bitcoin whose cost basis (the price of the day each coin last moved) lies within 10% below the market mark, i.e. in [90% of the mark, the mark). The mark is a debt-weighted mean of the venues' own marks (30 venues bucketed that day), not a price any venue liquidates against; HX1's bands measure each venue against its own mark. Before 2026-10-08 the map holds Sky alone, so the band is Sky's (a coverage step on 2026-10-08). Log cost-basis buckets (ratio 1.001) assigned by their geometric midpoint: an error of at most one bucket at each edge. An identity beside the debt in the band, not a reading of what a fall would do. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.market.secured.supply_costbasis_within_30","date":"2026-10-13","value":5386525.98678382,"unit":"BTC","kind":"derived","mark":"83368.71231777665994709477743","venues":30,"licence":"unrestricted","coingecko_btc":"0.00000000","cost_basis_day":"2026-10-13","coingecko_share":0,"limitation":"Bitcoin whose cost basis (the price of the day each coin last moved) lies within 30% below the market mark, i.e. in [70% of the mark, the mark). The mark is a debt-weighted mean of the venues' own marks (30 venues bucketed that day), not a price any venue liquidates against; HX1's bands measure each venue against its own mark. Before 2026-10-08 the map holds Sky alone, so the band is Sky's (a coverage step on 2026-10-08). Log cost-basis buckets (ratio 1.001) assigned by their geometric midpoint: an error of at most one bucket at each edge. An identity beside the debt in the band, not a reading of what a fall would do. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"}],"methodology":{"url":"https://www.bitcoincreditstack.com/indicators/costbasis-near-liquidation","note":"Changes to how a measure is derived are recorded in the runbook and every published version is kept (as_known_on)."},"licence":"per_value","licence_note":"Some values: Rests on CoinGecko prices for coins created before 2020-07-13 (coingecko_share on each value): for free, attributed use only, never resold or redistributed in bulk. Each value's attrs.licence says which.","sample":"One credit cycle, from 2022-09-19: observational. Descriptive, not a forecast or a signal, and not an index.","attribution":[{"provider":"CoinGecko","text":"Powered by CoinGecko","url":"https://www.coingecko.com","covers":"BTC/USD price, and market capitalisation / dominance figures built on CoinGecko data"}]},"unavailable":null},{"id":"btc-released-at-fall","name":"Bitcoin liquidations would release at a fall","family":"market","units":"BTC","description":"How much bitcoin liquidations would release if prices fell 10, 20 or 30%, from the positions as they stand: for each bucket within the fall, debt times one plus the venue's liquidation incentive, over the liquidation price. Not a forecast: no repayment, top-up or market impact is assumed. Absent where a venue's incentive is not yet read, with the venues named.","live":true,"has_history":true,"as_known_on":true,"route":"/v1/market/measure/btc-released-at-fall","reading":{"id":"btc-released-at-fall","name":"Bitcoin liquidations would release at a fall","measure":"CX-Q7","question":"How much bitcoin would liquidations release if every venue's own mark fell 10, 20 or 30%, with no repayment or top-up?","headline":"cx.market.secured.btc_released_at_fall_20","source":"Derived: HX1 credit_liq_buckets_daily and credit_liq_venue_daily (liquidation_incentive)","series":[{"series_id":"cx.market.secured.btc_released_at_fall_20","date":"2026-10-13","value":null,"unit":"BTC","kind":"absent:incentive_unread","venues":23,"missing":["aave_v4_avalanche","aave_v4_ethereum","venus_core_pool_bsc"],"coverage":{"in":30,"of":88},"debt_usd":"305352638.91","partial_btc":"4403.68314835","debt_without_incentive_usd":"6482772.98","limitation":"Bitcoin that liquidations would release if every venue's own mark fell 20%: for each bucket of bitcoin-only positions whose liquidation price lies within 20% below its venue's mark, dollar debt x (1 + the venue's liquidation incentive) / the bucket's liquidation price (its midpoint). Arithmetic on the book as it stands, with no repayment, top-up, contagion or market impact assumed: not a forecast. Mixed and unbucketed venues are not in it (see liq_bucketed_share). Before 2026-10-08 the map holds Sky alone (a coverage step on 2026-10-08). Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.market.secured.btc_released_at_fall_10","date":"2026-10-13","value":null,"unit":"BTC","kind":"absent:incentive_unread","venues":21,"missing":["aave_v4_ethereum","venus_core_pool_bsc"],"coverage":{"in":30,"of":88},"debt_usd":"54445246.98","partial_btc":"746.26341426","debt_without_incentive_usd":"77814.11","limitation":"Bitcoin that liquidations would release if every venue's own mark fell 10%: for each bucket of bitcoin-only positions whose liquidation price lies within 10% below its venue's mark, dollar debt x (1 + the venue's liquidation incentive) / the bucket's liquidation price (its midpoint). Arithmetic on the book as it stands, with no repayment, top-up, contagion or market impact assumed: not a forecast. Mixed and unbucketed venues are not in it (see liq_bucketed_share). Before 2026-10-08 the map holds Sky alone (a coverage step on 2026-10-08). Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.market.secured.btc_released_at_fall_30","date":"2026-10-13","value":null,"unit":"BTC","kind":"absent:incentive_unread","venues":27,"missing":["aave_v4_avalanche","aave_v4_ethereum","etherfi_borrowing_optimism","venus_core_pool_bsc"],"coverage":{"in":30,"of":88},"debt_usd":"1079537318.74","partial_btc":"17154.82164205","debt_without_incentive_usd":"18260262.38","limitation":"Bitcoin that liquidations would release if every venue's own mark fell 30%: for each bucket of bitcoin-only positions whose liquidation price lies within 30% below its venue's mark, dollar debt x (1 + the venue's liquidation incentive) / the bucket's liquidation price (its midpoint). Arithmetic on the book as it stands, with no repayment, top-up, contagion or market impact assumed: not a forecast. Mixed and unbucketed venues are not in it (see liq_bucketed_share). Before 2026-10-08 the map holds Sky alone (a coverage step on 2026-10-08). Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"}],"methodology":{"url":"https://www.bitcoincreditstack.com/indicators/btc-released-at-fall","note":"Changes to how a measure is derived are recorded in the runbook and every published version is kept (as_known_on)."},"sample":"One credit cycle, from 2022-09-19: observational. Descriptive, not a forecast or a signal, and not an index."},"unavailable":null},{"id":"credit-weekly-change","name":"Weekly change in bitcoin-secured credit, matched venues","family":"market","units":"ratio","description":"Q4. The change over 7 days in debt and in collateral across only the venues read on both dates, with and without venues the integrity check flags. The finding built on it (no co-movement with old-coin spending) is published on the site. Descriptive, not a signal.","live":true,"has_history":true,"as_known_on":true,"route":"/v1/market/measure/credit-weekly-change","reading":{"id":"credit-weekly-change","name":"Weekly change in bitcoin-secured credit, matched venues","measure":"CX-Q4","question":"How did bitcoin-secured debt and collateral change week on week, across only the venues read on both dates?","headline":"cx.market.secured.debt_matched_weekly_change","source":"Derived in the vintage store from credit_tree venue figures","series":[{"series_id":"cx.market.secured.debt_matched_weekly_change","date":"2026-10-13","value":0.003796253293603,"unit":"ratio","kind":"derived","matched":84,"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"prior_date":"2026-10-06","matched_share":0.998351,"limitation":"Change over 7 days in debt in dollar loans across the venues the credit tree read on both dates (84; 99.8% of the current total), so venues arriving or leaving never enter. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.class.algorithmic.collateral_matched_weekly_change","date":"2026-10-13","value":0.000169371118057,"unit":"ratio","kind":"derived","matched":76,"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"prior_date":"2026-10-06","matched_share":0.991868,"limitation":"Change over 7 days in bitcoin collateral across the venues the credit tree read on both dates (76; 99.2% of the current total), so venues arriving or leaving never enter. Desk collateral is left out: it is partly price-derived. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.class.algorithmic.collateral_matched_weekly_change_unflagged","date":"2026-10-13","value":0.000169602268341,"unit":"ratio","kind":"derived","matched":75,"excluded":["aave_v3_monad"],"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"check_runs":["2026-10-06T10:28:35.872Z","2026-10-07T08:05:03.683Z","2026-10-08T08:05:04.836Z","2026-10-09T08:05:03.416Z","2026-10-12T08:05:11.623Z","2026-10-13T08:05:10.970Z"],"prior_date":"2026-10-06","matched_share":0.991831,"limitation":"Change over 7 days in bitcoin collateral across the venues the credit tree read on both dates (75; 99.2% of the current total), so venues arriving or leaving never enter. Desk collateral is left out: it is partly price-derived. Also leaves out venues the daily integrity check flags as a move on this date (attrs.excluded): a flag means no cause was found or the kind changed, not necessarily a fault. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.class.algorithmic.debt_matched_weekly_change","date":"2026-10-13","value":0.014795826286219,"unit":"ratio","kind":"derived","matched":69,"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"prior_date":"2026-10-06","matched_share":0.993864,"limitation":"Change over 7 days in debt in dollar loans across the venues the credit tree read on both dates (69; 99.4% of the current total), so venues arriving or leaving never enter. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.class.algorithmic.debt_matched_weekly_change_unflagged","date":"2026-10-13","value":0.014795826286219,"unit":"ratio","kind":"derived","matched":69,"excluded":[],"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"check_runs":["2026-10-06T10:28:35.872Z","2026-10-07T08:05:03.683Z","2026-10-08T08:05:04.836Z","2026-10-09T08:05:03.416Z","2026-10-12T08:05:11.623Z","2026-10-13T08:05:10.970Z"],"prior_date":"2026-10-06","matched_share":0.993864,"limitation":"Change over 7 days in debt in dollar loans across the venues the credit tree read on both dates (69; 99.4% of the current total), so venues arriving or leaving never enter. Also leaves out venues the daily integrity check flags as a move on this date (attrs.excluded): a flag means no cause was found or the kind changed, not necessarily a fault. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.class.minted.collateral_matched_weekly_change","date":"2026-10-13","value":-0.119155417590395,"unit":"ratio","kind":"derived","matched":5,"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"prior_date":"2026-10-06","matched_share":1,"limitation":"Change over 7 days in bitcoin collateral across the venues the credit tree read on both dates (5; 100.0% of the current total), so venues arriving or leaving never enter. Desk collateral is left out: it is partly price-derived. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.class.minted.collateral_matched_weekly_change_unflagged","date":"2026-10-13","value":-0.119155417590395,"unit":"ratio","kind":"derived","matched":5,"excluded":[],"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"check_runs":["2026-10-06T10:28:35.872Z","2026-10-07T08:05:03.683Z","2026-10-08T08:05:04.836Z","2026-10-09T08:05:03.416Z","2026-10-12T08:05:11.623Z","2026-10-13T08:05:10.970Z"],"prior_date":"2026-10-06","matched_share":1,"limitation":"Change over 7 days in bitcoin collateral across the venues the credit tree read on both dates (5; 100.0% of the current total), so venues arriving or leaving never enter. Desk collateral is left out: it is partly price-derived. Also leaves out venues the daily integrity check flags as a move on this date (attrs.excluded): a flag means no cause was found or the kind changed, not necessarily a fault. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.class.minted.debt_matched_weekly_change","date":"2026-10-13","value":-0.068247996162902,"unit":"ratio","kind":"derived","matched":4,"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"prior_date":"2026-10-06","matched_share":1,"limitation":"Change over 7 days in debt in dollar loans across the venues the credit tree read on both dates (4; 100.0% of the current total), so venues arriving or leaving never enter. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.class.minted.debt_matched_weekly_change_unflagged","date":"2026-10-13","value":-0.068247996162902,"unit":"ratio","kind":"derived","matched":4,"excluded":[],"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"check_runs":["2026-10-06T10:28:35.872Z","2026-10-07T08:05:03.683Z","2026-10-08T08:05:04.836Z","2026-10-09T08:05:03.416Z","2026-10-12T08:05:11.623Z","2026-10-13T08:05:10.970Z"],"prior_date":"2026-10-06","matched_share":1,"limitation":"Change over 7 days in debt in dollar loans across the venues the credit tree read on both dates (4; 100.0% of the current total), so venues arriving or leaving never enter. Also leaves out venues the daily integrity check flags as a move on this date (attrs.excluded): a flag means no cause was found or the kind changed, not necessarily a fault. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.class.posted-card.debt_matched_weekly_change","date":"2026-10-13","value":0,"unit":"ratio","kind":"derived","matched":10,"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"prior_date":"2026-10-06","matched_share":1,"limitation":"Change over 7 days in debt in dollar loans across the venues the credit tree read on both dates (10; 100.0% of the current total), so venues arriving or leaving never enter. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.class.posted-card.debt_matched_weekly_change_unflagged","date":"2026-10-13","value":0,"unit":"ratio","kind":"derived","matched":10,"excluded":[],"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"check_runs":["2026-10-06T10:28:35.872Z","2026-10-07T08:05:03.683Z","2026-10-08T08:05:04.836Z","2026-10-09T08:05:03.416Z","2026-10-12T08:05:11.623Z","2026-10-13T08:05:10.970Z"],"prior_date":"2026-10-06","matched_share":1,"limitation":"Change over 7 days in debt in dollar loans across the venues the credit tree read on both dates (10; 100.0% of the current total), so venues arriving or leaving never enter. Also leaves out venues the daily integrity check flags as a move on this date (attrs.excluded): a flag means no cause was found or the kind changed, not necessarily a fault. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.market.secured.collateral_matched_weekly_change","date":"2026-10-13","value":-0.001018849925571,"unit":"ratio","kind":"derived","matched":82,"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"prior_date":"2026-10-06","matched_share":0.991939,"limitation":"Change over 7 days in bitcoin collateral across the venues the credit tree read on both dates (82; 99.2% of the current total), so venues arriving or leaving never enter. Desk collateral is left out: it is partly price-derived. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.market.secured.collateral_matched_weekly_change_unflagged","date":"2026-10-13","value":-0.001018664914395,"unit":"ratio","kind":"derived","matched":81,"excluded":["aave_v3_monad"],"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"check_runs":["2026-10-06T10:28:35.872Z","2026-10-07T08:05:03.683Z","2026-10-08T08:05:04.836Z","2026-10-09T08:05:03.416Z","2026-10-12T08:05:11.623Z","2026-10-13T08:05:10.970Z"],"prior_date":"2026-10-06","matched_share":0.991903,"limitation":"Change over 7 days in bitcoin collateral across the venues the credit tree read on both dates (81; 99.2% of the current total), so venues arriving or leaving never enter. Desk collateral is left out: it is partly price-derived. Also leaves out venues the daily integrity check flags as a move on this date (attrs.excluded): a flag means no cause was found or the kind changed, not necessarily a fault. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"},{"series_id":"cx.market.secured.debt_matched_weekly_change_unflagged","date":"2026-10-13","value":0.003796253293603,"unit":"ratio","kind":"derived","matched":84,"excluded":[],"vintages":["credit_tree@2026-10-06T07:55:00.433Z","credit_tree@2026-10-13T07:55:00.554Z"],"check_runs":["2026-10-06T10:28:35.872Z","2026-10-07T08:05:03.683Z","2026-10-08T08:05:04.836Z","2026-10-09T08:05:03.416Z","2026-10-12T08:05:11.623Z","2026-10-13T08:05:10.970Z"],"prior_date":"2026-10-06","matched_share":0.998351,"limitation":"Change over 7 days in debt in dollar loans across the venues the credit tree read on both dates (84; 99.8% of the current total), so venues arriving or leaving never enter. Also leaves out venues the daily integrity check flags as a move on this date (attrs.excluded): a flag means no cause was found or the kind changed, not necessarily a fault. Observational: one credit cycle, from 2022-09-19.","vintage_id":"cx@2026-10-13T08:15:00.531Z"}],"methodology":{"url":"https://www.bitcoincreditstack.com/indicators/credit-weekly-change","note":"Changes to how a measure is derived are recorded in the runbook and every published version is kept (as_known_on)."},"sample":"One credit cycle, from 2022-09-19: observational. Descriptive, not a forecast or a signal, and not an index."},"unavailable":null},{"id":"spending","name":"Spending by age","family":"onchain","units":"BTC per day by age band; coin-days; days","description":"Bitcoin spent each day by how long it had been unspent (twelve age bands), with coin-days destroyed and dormancy, from our own node since 2009. The reading is the last point of each series; each series' history is on get_chain_series.","live":true,"has_history":false,"as_known_on":false,"route":"/v1/onchain/spending","reading":{"id":"spending","name":"Spending by age","date":"2026-10-12","series":[{"series_id":"chain.cohort.spent_btc","date":"2026-10-12","value":756165.76458097,"unit":"BTC","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.spent_age.under_1d_btc","date":"2026-10-12","value":620692.19800233,"unit":"BTC","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.spent_age.1d_1w_btc","date":"2026-10-12","value":108543.17454611,"unit":"BTC","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.spent_age.1w_1m_btc","date":"2026-10-12","value":7637.54649495,"unit":"BTC","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.spent_age.1m_3m_btc","date":"2026-10-12","value":5088.70563658,"unit":"BTC","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.spent_age.3m_6m_btc","date":"2026-10-12","value":1267.64792143,"unit":"BTC","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.spent_age.6m_12m_btc","date":"2026-10-12","value":2287.76317025,"unit":"BTC","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.spent_age.1y_2y_btc","date":"2026-10-12","value":3207.70170869,"unit":"BTC","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.spent_age.2y_3y_btc","date":"2026-10-12","value":5713.37453794,"unit":"BTC","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.spent_age.3y_5y_btc","date":"2026-10-12","value":1090.05536196,"unit":"BTC","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.spent_age.5y_7y_btc","date":"2026-10-12","value":292.81802832,"unit":"BTC","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.spent_age.7y_10y_btc","date":"2026-10-12","value":297.75260185,"unit":"BTC","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.spent_age.over_10y_btc","date":"2026-10-12","value":47.02657056,"unit":"BTC","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.cdd","date":"2026-10-12","value":11073653.2379,"unit":"BTC_days","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.dormancy","date":"2026-10-12","value":14.6445,"unit":"days","kind":"exact","vintage_id":"chain_series@2026-10-13T02:01:36.863Z"}],"note":"Bitcoin spent each UTC day, by how long it had been unspent, with coin-days destroyed and dormancy (coin-days per BTC moved). From our own node, every block since 2009. Descriptive: not a signal.","history":"Each series through time: /v1/onchain/series/{series_id}","licence":{"status":"own"}},"unavailable":null},{"id":"mining","name":"Mining","family":"onchain","units":"EH/s; difficulty; BTC per day; blocks and transactions per day","description":"The network's mining each day from our own node: hashrate, difficulty, subsidy and fees, blocks and transactions. The reading is the last point of each series; history is on get_chain_series. Hashprice is hpx.","live":true,"has_history":false,"as_known_on":false,"route":"/v1/onchain/mining","reading":{"id":"mining","name":"Mining","date":"2026-10-12","series":[{"series_id":"miner.hashrate_eh","date":"2026-10-12","value":1002.796935675257,"unit":"EH_per_S","kind":"exact","vintage_id":"miner@2026-10-13T02:02:35.284Z"},{"series_id":"miner.difficulty","date":"2026-10-12","value":132716002350731.3,"unit":"difficulty","kind":"exact","vintage_id":"miner@2026-10-13T02:02:35.284Z"},{"series_id":"miner.subsidy_btc","date":"2026-10-12","value":475,"unit":"BTC","kind":"exact","vintage_id":"miner@2026-10-13T02:02:35.284Z"},{"series_id":"miner.fees_btc","date":"2026-10-12","value":2.86069738,"unit":"BTC","kind":"exact","vintage_id":"miner@2026-10-13T02:02:35.284Z"},{"series_id":"miner.blocks","date":"2026-10-12","value":152,"unit":"count","kind":"exact","vintage_id":"miner@2026-10-13T02:02:35.284Z"},{"series_id":"miner.txs","date":"2026-10-12","value":742708,"unit":"count","kind":"exact","vintage_id":"miner@2026-10-13T02:02:35.284Z"}],"note":"The network's mining each UTC day from our own node: hashrate (difficulty summed over the day's blocks x 2^32 / 86400), difficulty, subsidy and fees, blocks and transactions. Hashprice is its own indicator (hpx).","history":"Each series through time: /v1/onchain/series/{series_id}","licence":{"status":"own"}},"unavailable":null},{"id":"cost-basis","name":"Cost basis","family":"onchain","units":"USD per BTC (percentiles); BTC by price bucket","description":"The price at which each coin of spendable supply was created, as percentiles; the full distribution for a day is get_cost_basis. Coins created before 2020-07-13 are priced from CoinGecko: free, attributed use only.","live":true,"has_history":false,"as_known_on":false,"route":"/v1/onchain/cost-basis/latest","reading":{"id":"cost-basis","name":"Cost basis","date":"2026-10-12","series":[{"series_id":"chain.cohort.cost_basis_p10_usd","date":"2026-10-12","value":2.97,"unit":"USD_per_BTC","kind":"derived","coingecko_share":0.013027,"vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.cost_basis_p25_usd","date":"2026-10-12","value":9012,"unit":"USD_per_BTC","kind":"derived","coingecko_share":0.013027,"vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.cost_basis_p50_usd","date":"2026-10-12","value":63736.62,"unit":"USD_per_BTC","kind":"derived","coingecko_share":0.013027,"vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.cost_basis_p75_usd","date":"2026-10-12","value":84765.04,"unit":"USD_per_BTC","kind":"derived","coingecko_share":0.013027,"vintage_id":"chain_series@2026-10-13T02:01:36.863Z"},{"series_id":"chain.cohort.cost_basis_p90_usd","date":"2026-10-12","value":104681.32,"unit":"USD_per_BTC","kind":"derived","coingecko_share":0.013027,"vintage_id":"chain_series@2026-10-13T02:01:36.863Z"}],"note":"The price at which each coin was created, as percentiles of spendable supply. The full distribution for one day: /v1/onchain/cost-basis?date=YYYY-MM-DD.","history":"Each series through time: /v1/onchain/series/{series_id}","licence":{"status":"free_attributed_only","attribution":{"name":"CoinGecko","url":"https://www.coingecko.com","terms":"Daily BTC price before 2020-07-13 used as the creation price of coins; free, attributed surfaces only, never sold or bulk files (BCS P3)."}}},"unavailable":null},{"id":"holding-period-curve","name":"Realised holding-period curve","family":"market","units":"percent by holding period (1–730 days)","description":"The rate borrowers paid by how long their positions stayed open, from positions read one by one (survival over the book). Morpho Blue only today: it widens as other venues' positions are read one by one. Not a fixed-term curve.","live":true,"has_history":true,"as_known_on":false,"route":"/v1/market/curve","reading":{"stratum":"family:morpho_blue","window_basis":"trailing_90d","requested_as_of":null,"as_of_date":"2026-10-13","venue_scope":{"venues":["morpho_blue_ethereum","morpho_blue_base"],"venue_family":"Morpho Blue","chains":["ethereum","base"],"curve":"BTC-USD","statement":"Computed from Morpho Blue only, on Ethereum and Base. Not market-wide: Aave v3 is mid-backfill and Compound v3 and Sky are not ingested, so every cross-venue reading — including the shape question this programme calls Checkpoint B — remains open."},"construction":"These venues issue no fixed-term loan and quote no fixed rate, so this curve is a construction. A point at tenor t is the debt-weighted annualised cost actually paid by positions whose REALISED HOLDING PERIOD fell in that band. Both halves are measured: the holding period is the reconstructed residence spell, and the cost is the growth of the market's borrow index across exactly that spell, checked against contract state at intermediate blocks. The tenor axis is therefore a realised holding period and NOT a maturity — the curve says what borrowing for about that long has cost, not that a rate can be locked for that long. Rates are continuously compounded; effective APY is exp(r) − 1.","survival_note":"Every point carries S(t), the share of borrowing reaching that tenor, from the same Kaplan-Meier estimator the rtd series is published from. It is there because bucketing by realised duration under-populates the long tenors with exactly the positions that have not finished yet — the same censoring that puts the naive median at 11.0 days against a survival-adjusted 84.5. On the trailing basis S(t) is length-biased upward, because conditioning on having been alive in the window over-samples long-lived positions; the cumulative basis carries the unbiased reading.","basis_note":"Positions open at some point in the 90 days before the as-of date: the term structure prevailing then. This is the basis a replay should read.","rate_convention":"continuously_compounded_annual","composition":[{"tenor_days":1,"debt_usd":6022717.3762132395,"constituents":[{"venue_id":"morpho_blue_ethereum","rate_mechanism":"algorithmic_utilisation","share":0.563374099643141,"debt_usd":3393042.9792292346,"n_at_risk":37},{"venue_id":"morpho_blue_base","rate_mechanism":"algorithmic_utilisation","share":0.4366259003568589,"debt_usd":2629674.3969840044,"n_at_risk":1445}]},{"tenor_days":3,"debt_usd":16073285.236212498,"constituents":[{"venue_id":"morpho_blue_base","rate_mechanism":"algorithmic_utilisation","share":0.5091848148280324,"debt_usd":8184272.766679007,"n_at_risk":1933},{"venue_id":"morpho_blue_ethereum","rate_mechanism":"algorithmic_utilisation","share":0.49081518517196765,"debt_usd":7889012.469533491,"n_at_risk":70}]},{"tenor_days":7,"debt_usd":95442026.52447203,"constituents":[{"venue_id":"morpho_blue_ethereum","rate_mechanism":"algorithmic_utilisation","share":0.8791579889142888,"debt_usd":83908620.09715903,"n_at_risk":89},{"venue_id":"morpho_blue_base","rate_mechanism":"algorithmic_utilisation","share":0.12084201108571122,"debt_usd":11533406.427312993,"n_at_risk":2348}]},{"tenor_days":14,"debt_usd":38442654.891204126,"constituents":[{"venue_id":"morpho_blue_base","rate_mechanism":"algorithmic_utilisation","share":0.730249698921318,"debt_usd":28072737.160037946,"n_at_risk":4053},{"venue_id":"morpho_blue_ethereum","rate_mechanism":"algorithmic_utilisation","share":0.26975030107868203,"debt_usd":10369917.731166182,"n_at_risk":163}]},{"tenor_days":30,"debt_usd":53691608.95144355,"constituents":[{"venue_id":"morpho_blue_base","rate_mechanism":"algorithmic_utilisation","share":0.7263160942651239,"debt_usd":38997079.70842285,"n_at_risk":5648},{"venue_id":"morpho_blue_ethereum","rate_mechanism":"algorithmic_utilisation","share":0.27368390573487605,"debt_usd":14694529.243020706,"n_at_risk":157}]},{"tenor_days":60,"debt_usd":33220723.557178218,"constituents":[{"venue_id":"morpho_blue_base","rate_mechanism":"algorithmic_utilisation","share":0.8827241502458955,"debt_usd":29324734.972563945,"n_at_risk":3812},{"venue_id":"morpho_blue_ethereum","rate_mechanism":"algorithmic_utilisation","share":0.11727584975410456,"debt_usd":3895988.5846142746,"n_at_risk":154}]},{"tenor_days":90,"debt_usd":242057222.56861728,"constituents":[{"venue_id":"morpho_blue_ethereum","rate_mechanism":"algorithmic_utilisation","share":0.521981341304923,"debt_usd":126349353.70891114,"n_at_risk":534},{"venue_id":"morpho_blue_base","rate_mechanism":"algorithmic_utilisation","share":0.47801865869507704,"debt_usd":115707868.85970616,"n_at_risk":10601}]},{"tenor_days":180,"debt_usd":129514241.47850624,"constituents":[{"venue_id":"morpho_blue_base","rate_mechanism":"algorithmic_utilisation","share":0.8324018161476678,"debt_usd":107807889.82369621,"n_at_risk":6588},{"venue_id":"morpho_blue_ethereum","rate_mechanism":"algorithmic_utilisation","share":0.16759818385233213,"debt_usd":21706351.65481003,"n_at_risk":262}]},{"tenor_days":270,"debt_usd":143983765.65953663,"constituents":[{"venue_id":"morpho_blue_base","rate_mechanism":"algorithmic_utilisation","share":0.8524277982631273,"debt_usd":122735764.34679289,"n_at_risk":5578},{"venue_id":"morpho_blue_ethereum","rate_mechanism":"algorithmic_utilisation","share":0.14757220173687266,"debt_usd":21248001.31274374,"n_at_risk":241}]},{"tenor_days":365,"debt_usd":250530447.17855904,"constituents":[{"venue_id":"morpho_blue_base","rate_mechanism":"algorithmic_utilisation","share":0.9097755020320918,"debt_usd":227926463.356198,"n_at_risk":6922},{"venue_id":"morpho_blue_ethereum","rate_mechanism":"algorithmic_utilisation","share":0.09022449796790812,"debt_usd":22603983.82236101,"n_at_risk":282}]},{"tenor_days":545,"debt_usd":48970497.99113104,"constituents":[{"venue_id":"morpho_blue_base","rate_mechanism":"algorithmic_utilisation","share":0.5051934045297954,"debt_usd":24739572.601659,"n_at_risk":1526},{"venue_id":"morpho_blue_ethereum","rate_mechanism":"algorithmic_utilisation","share":0.4948065954702045,"debt_usd":24230925.389472038,"n_at_risk":118}]},{"tenor_days":730,"debt_usd":7650576.842717011,"constituents":[{"venue_id":"morpho_blue_ethereum","rate_mechanism":"algorithmic_utilisation","share":0.9951381409385608,"debt_usd":7613380.816369011,"n_at_risk":52},{"venue_id":"morpho_blue_base","rate_mechanism":"algorithmic_utilisation","share":0.004861859061439133,"debt_usd":37196.026348000094,"n_at_risk":10}]}],"composition_note":"Which venues contribute at each tenor and at what weight, by debt — the same weighting the rate itself uses. A composite curve whose long end is one venue and whose short end is another is a different object at each tenor, and the line alone cannot show that. Every constituent carries its rate mechanism, because a tenor made mostly of an administered rate is not the same reading as one made of cleared prices.","points":[{"tenor_days":1,"tenor_days_hi":3,"rate":0.04831641582008816,"median_rate":0.048074832521813896,"p25_rate":0.04688363040661174,"p75_rate":0.050249784882788306,"n_at_risk":1482,"debt_usd_at_risk":6022717.376213239,"survival":0.9066405346176905},{"tenor_days":3,"tenor_days_hi":7,"rate":0.04165821595480192,"median_rate":0.04834697181566841,"p25_rate":0.04749149873610127,"p75_rate":0.05002434759054723,"n_at_risk":2003,"debt_usd_at_risk":16073285.236212492,"survival":0.8857967246586531},{"tenor_days":7,"tenor_days_hi":14,"rate":0.04718929199229825,"median_rate":0.04880999364029755,"p25_rate":0.047566599165253735,"p75_rate":0.04905910142274238,"n_at_risk":2437,"debt_usd_at_risk":95442026.52447203,"survival":0.8643416352330759},{"tenor_days":14,"tenor_days_hi":30,"rate":0.04634212767719845,"median_rate":0.048305679417037374,"p25_rate":0.048096257676625634,"p75_rate":0.048451067726380186,"n_at_risk":4216,"debt_usd_at_risk":38442654.89120412,"survival":0.8421497468056403},{"tenor_days":30,"tenor_days_hi":60,"rate":0.045546121672447926,"median_rate":0.04781232953640322,"p25_rate":0.0477011021342853,"p75_rate":0.047878848996949226,"n_at_risk":5805,"debt_usd_at_risk":53691608.95144354,"survival":0.817227831903383},{"tenor_days":60,"tenor_days_hi":90,"rate":0.04712130892325984,"median_rate":0.04790942985129327,"p25_rate":0.047812731058444996,"p75_rate":0.04805122114670149,"n_at_risk":3966,"debt_usd_at_risk":33220723.55717822,"survival":0.793772607485941},{"tenor_days":90,"tenor_days_hi":180,"rate":0.045179273720655486,"median_rate":0.048021107718477445,"p25_rate":0.04789702416826444,"p75_rate":0.04813162448866189,"n_at_risk":11135,"debt_usd_at_risk":242057222.5686172,"survival":0.7773944695654387},{"tenor_days":180,"tenor_days_hi":270,"rate":0.04559956477254491,"median_rate":0.0467701701641504,"p25_rate":0.046493407906901846,"p75_rate":0.04739635108636278,"n_at_risk":6850,"debt_usd_at_risk":129514241.47850628,"survival":0.7458403675284369},{"tenor_days":270,"tenor_days_hi":365,"rate":0.04773178050267233,"median_rate":0.048656244671840404,"p25_rate":0.047527911495066424,"p75_rate":0.05017144102480989,"n_at_risk":5819,"debt_usd_at_risk":143983765.65953666,"survival":0.7252342140042667},{"tenor_days":365,"tenor_days_hi":545,"rate":0.05350688178501925,"median_rate":0.05517956568168529,"p25_rate":0.05359025807881466,"p75_rate":0.05544089727818286,"n_at_risk":7204,"debt_usd_at_risk":250530447.17855898,"survival":0.7082190310196936},{"tenor_days":545,"tenor_days_hi":730,"rate":0.05000995146575195,"median_rate":0.05503013704675051,"p25_rate":0.054925059436644164,"p75_rate":0.05509133791436024,"n_at_risk":1644,"debt_usd_at_risk":48970497.991131015,"survival":0.6720274161779536},{"tenor_days":730,"tenor_days_hi":1100,"rate":0.052409563770684106,"median_rate":0.053759309849359595,"p25_rate":0.05113418233750196,"p75_rate":0.05510974030447286,"n_at_risk":62,"debt_usd_at_risk":7650576.842717011,"survival":0.5945390893055708}]},"unavailable":null},{"id":"miner-revenue-share","name":"Miners’ revenue as a share of supply","family":"onchain","units":"ratio per year (annualised share of spendable supply)","description":"What the network paid its miners each day, block subsidy plus fees, times 365, over spendable supply: price-free, from our own node, every day since 2009. Each halving is a step. Set beside the bitcoin-secured borrow rate on the explorer, never subtracted from it: one is a bitcoin share, the other a dollar rate.","live":true,"has_history":true,"as_known_on":true,"route":"/v1/market/measure/miner-revenue-share","reading":{"id":"miner-revenue-share","name":"Miners' revenue as a share of supply","measure":"CX-IX1","question":"What did the network pay its miners each day (subsidy plus fees), annualised, as a share of spendable supply? Price-free, from our own node since 2009.","headline":"cx.network.miner_revenue_share_of_supply","source":"Derived in the vintage store: (miner subsidy + fees) x 365 / chain_series supply","series":[{"series_id":"cx.network.miner_revenue_share_of_supply","date":"2026-10-12","value":0.008678805366631,"unit":"ratio","kind":"derived","limitation":"What the network paid its miners that day (block subsidy plus fees, miner.subsidy_btc and miner.fees_btc) times 365, over spendable supply at the end of the day. A share of supply, not a return anyone earns, and not a price: no dollar figure enters it. Daily, from our own node; a day with no block has no row. Supply is spendable supply at the end of the snapshot's UTC day (chain.cohort.supply_btc): OP_RETURN outputs, the genesis coinbase and the two BIP30-overwritten coinbases are excluded, so it sits a little below issued supply.","vintage_id":"cx@2026-10-13T08:15:00.530Z"}],"methodology":{"url":"https://www.bitcoincreditstack.com/indicators/miner-revenue-share","note":"Changes to how a measure is derived are recorded in the runbook and every published version is kept (as_known_on)."},"sample":"Every day since 2009 from our own node. Descriptive, not a forecast or a signal, and not an index."},"unavailable":null}],"indicators_withdrawn":[{"id":"tci","status":"retired","since":"2026-10-09","ruling":"IX1 sitting A","message":"'tci' is not published on the Bitcoin Credit Stack. Not published on the Stack: it is computed from one venue's book (Gavel's), so it measures that venue, not the market (IX-D4)."},{"id":"tsr","status":"retired","since":"2026-10-09","ruling":"IX1 sitting A","message":"'tsr' is not published on the Bitcoin Credit Stack. Not published on the Stack: it is computed from one venue's book (Gavel's), so it measures that venue, not the market (IX-D4)."},{"id":"cdr","status":"retired","since":"2026-10-09","ruling":"IX1 sitting A","message":"'cdr' is not published on the Bitcoin Credit Stack. Not published on the Stack: it is computed from one venue's book (Gavel's), so it measures that venue, not the market (IX-D4)."},{"id":"ccpi","status":"retired","since":"2026-10-09","ruling":"IX1 sitting A","message":"'ccpi' is not published on the Bitcoin Credit Stack. Not published on the Stack: a composite score with phase labels, and the Stack publishes no composites or signals (IX-D1, IX-D3)."},{"id":"complex","status":"retired","since":"2026-10-09","ruling":"IX1 sitting A","message":"'complex' is not published on the Bitcoin Credit Stack. Not published on the Stack: a bundle of indicators computed from one venue's book (IX-D4)."},{"id":"forward-curve","status":"retired","since":"2026-10-09","ruling":"IX1 sitting A","message":"'forward-curve' is not published on the Bitcoin Credit Stack. Not published on the Stack: forwards from one venue's fitted curve, and not live on mainnet."},{"id":"defi-rates","status":"retired","since":"2026-10-09","ruling":"IX1 sitting D","message":"'defi-rates' is not published on the Bitcoin Credit Stack. Not published on the Stack: its values are withheld (DefiLlama terms), and every venue's rate is in the credit tree and on the venue pages."},{"id":"srcs","status":"moved","since":null,"ruling":null,"message":"'srcs' is not served here. It measures one venue against the market rather than the market itself, so it is served by that venue's own MCP at https://mcp.thegavel.io/mcp, where it is called 'get_indicator'."},{"id":"implied-price","status":"held","since":"2026-10-09","ruling":"IX1 sitting A","message":"'implied-price' is not published on the Bitcoin Credit Stack. Held: computed from Gavel's book alone, which is still predominantly own-account; held, unpublished, until that book is an independent market."},{"id":"regime","status":"held","since":"2026-10-09","ruling":"IX1 sitting A","message":"'regime' is not published on the Bitcoin Credit Stack. Held: computed from Gavel's book alone, which is still predominantly own-account; held, unpublished, until that book is an independent market."},{"id":"surface","status":"held","since":"2026-10-09","ruling":"IX1 sitting A","message":"'surface' is not published on the Bitcoin Credit Stack. Held: computed from Gavel's book alone, which is still predominantly own-account; held, unpublished, until that book is an independent market."}],"venue_headline":{"as_of":"2026-10-13","btc_price_ref":82847.43007701098,"question":"What are this venue's headline figures, and which read is each one from?","venue_count":135,"coverage":{"collateral":96,"debt":95,"ltv":70,"borrow":87,"lend":68,"liquidation":66,"liquidation_price":46,"of":135},"btc_collateral":{"rule":"asset_peg (migration 090): median |deviation| from BTC ≤ 50 bps over a year; admitted by operator ruling: UNIBTC (70 bps)"},"kinds":{"exact":"measured, for the bitcoin book itself","partial":"measured, for part of it — `limitation` says which part","whole_pool":"the venue's whole lending, not its bitcoin book","whole_book":"a desk's whole book against every collateral, not its bitcoin book","estimate":"an estimate within a stated range — a desk's bounded book, or the bitcoin its book implies at its card's LTV","ceiling":"a policy limit the venue sets, not an observation","analogue":"a ratio or rate that is not the metric itself (corporate: no lien)","derived":"computed from a parameter applied to a measured book","posted":"an administered price the venue publishes","parameter":"the venue's own threshold, where no book is read to turn it into a price"},"absent_kinds":{"not_applicable":"the metric does not exist for this kind of venue","not_published":"the venue does not disclose it","not_read":"it exists and is public, and this dataset does not read it yet — a gap in the dataset, not a property of the venue","below_floor":"not read because the venue is below the research floor (its book has not reached $5m on any day of the last 90); the figure exists"},"observers":{"note":"Each tile takes the most exact read that reaches the venue and names it; reads are never spliced inside one figure. Where the three-figure headline (/v1/market/headline) has a figure this route does not, its figure is carried with its own basis."},"weighting_note":"Borrow is weighted by debt in USD and lend by supply in USD, because that is what a borrowed or supplied dollar actually pays or earns.","terms_note":"Loan duration is not a venue figure on an on-chain pool: these markets are open-term, and a position runs until it is repaid or liquidated. A fixed term exists only where the venue writes one — the custodial desks (cefi_credit_rates.term_days) and Gavel's auction, which is fixed-rate and fixed-term by construction.","attribution":[{"provider":"IEX","text":"Data provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use.","url":"https://www.iex.io/legal/hist-data-terms","covers":"corporate preferred prices (IEX last regular-session trade) and the yields computed from them"}]},"venue_headline_unavailable":null,"headline":{"as_of":"2026-10-13","question":"What are the price, quality and composition of this class, family or venue, and which read answers each?","definitions":{"price":"The rate a borrowed dollar pays, weighted by dollars. Pools: the 30-day trailing, debt-weighted USD borrow rate, continuously compounded — the same pools, gates and floor as the class curve, so a class's venues sum back to it exactly. Auction: the 30-day cleared rate. Desks: the current posted card, which is administered, not cleared. Corporate: the holder's price-implied yield — there is no borrow leg.","quality":"Debt divided by the value of the bitcoin behind it. Observed where a read carries both sides. A desk's posted maximum LTV is a ceiling it sets, not an observation. Corporate debt has no lien on the issuer's bitcoin, so its figure is registered debt over bitcoin held — an analogue, not an LTV.","composition":"The dollar debt tied to bitcoin, and how it is tied: exact (a market whose collateral is bitcoin), pool (lent from a reserve that holds bitcoin among other collateral — no dollar is assignable to it), estimate (a desk's book, often a bounded range), or filed (an issuer's registered debt, financed by bitcoin rather than backed by it)."},"window_days":30,"venue_window_as_of":"2026-10-13","venue_window_unavailable":null,"inputs_unavailable":[],"not_a_ranking":"No figure here is a score or a sort key. Classes, families and venues are listed by id.","market":{"id":"btc-usd","price":{"value":7.324846891246052,"unit":"pct","label":"cost of borrowing against bitcoin, weighted by book","kind":"mixed","basis":"each SECURED class's own headline price — where bitcoin is the collateral — weighted by that class's bitcoin-linked book. The classes price differently — a 30-day borrow rate, a cleared auction rate, an administered card — and the range is across them. Corporate debt is not in it: the issuers' bitcoin is not pledged to it, so its yield is not a price of borrowing against bitcoin; it is served as its own class price.","observer":null,"as_of":"2026-10-13","low":4.941833614366269,"high":11.714978768055905,"sub":"algorithmic 4.94% · minted 7.67% · auction 5.49% · posted-card 11.71% — not included: corporate 11.86% (no lien on bitcoin)","absent_because":null,"parts":[{"class_id":"algorithmic","value":4.941833614366269,"weight_usd":4463283150.481334},{"class_id":"minted","value":7.671345993658389,"weight_usd":37199071},{"class_id":"auction","value":5.489079305555537,"weight_usd":17421},{"class_id":"posted-card","value":11.714978768055905,"weight_usd":2419791897}],"excluded":[{"class_id":"corporate","value":11.864690153096687,"reason":"unsecured: no lien on the issuer's bitcoin"}]},"quality":{"value":0.454400912710449,"unit":"ratio","label":"debt to the bitcoin securing it","kind":"mixed","basis":"$4.54bn of debt over $10.00bn of bitcoin posted as its collateral, across the secured classes where both are observed (pooled, vault and auction reads) — an aggregate LTV, not any borrower's. Desks post a ceiling, not a book over collateral. Corporate debt is not in it: there is no lien on the issuers' coins, so its debt-to-bitcoin-held is an analogue, served as the corporate class's own figure.","observer":null,"as_of":null,"low":null,"high":null,"sub":"algorithmic 45.5% · minted 20.3% · auction 44.9% — desks excluded: they post a ceiling, not a book over collateral; not included: corporate 35.5% debt to bitcoin held (no lien on bitcoin)","absent_because":null,"parts":[{"class_id":"algorithmic","debt_usd":4541215263.494095,"collateral_usd":9987883462.882217,"kind":"observed"},{"class_id":"minted","debt_usd":2199360,"collateral_usd":10807775,"kind":"observed"},{"class_id":"auction","debt_usd":16950,"collateral_usd":37740,"kind":"observed"}],"excluded":[{"class_id":"corporate","debt_usd":27507366507.521767,"collateral_usd":77472109650.79916,"kind":"analogue","reason":"unsecured: no lien on the issuer's bitcoin"}]},"composition":{"value":6920291539.481334,"unit":"usd","label":"debt secured by bitcoin","kind":"mixed","basis":"the SECURED classes' bitcoin-linked books added together — where bitcoin is the collateral: exact attributions and the desks' estimated books. The range carries the desk estimate's bounds; nothing else in the sum is estimated. Corporate debt is not in it: it is financed by bitcoin the issuers hold, not secured by it, and is served as its own class book.","observer":null,"as_of":"2026-10-13","low":6123872039.481334,"high":10744711039.481335,"sub":"$4.50bn exact · $2.42bn estimated — the exact part includes $1.92bn borrowed in dollars by pool accounts whose only collateral is bitcoin; the pools' other lending ($16.31bn of $18.23bn, 30-day mean) is not assignable to bitcoin and not added — not included: corporate $26.33bn filed (and ≈$1.18bn in yen and euro) (no lien on bitcoin)","absent_because":null,"parts":[{"class_id":"algorithmic","value":4463283150.481334,"kind":"exact"},{"class_id":"minted","value":37199071,"kind":"exact"},{"class_id":"auction","value":17421,"kind":"exact"},{"class_id":"posted-card","value":2419791897,"kind":"estimate"}],"excluded":[{"class_id":"corporate","value":26330129200,"kind":"filed","reason":"unsecured: no lien on the issuer's bitcoin"}]}},"classes":[{"class_id":"algorithmic","price":{"value":4.941833614366269,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 787 pools at 80 venues","observer":"aggregator_defillama 62% · contract_read 37% · venue_api_jupiter <1% of the 30-day debt","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.45467243188915124,"unit":"ratio","label":"realised LTV","kind":"observed","basis":"total debt over total collateral value across the 2 venue(s) whose reads carry both sides, and the 19,331 accounts at 27 pooled venue(s) whose only collateral is bitcoin (155)","observer":null,"as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null,"debt_usd":4541215263.494095,"collateral_usd":9987883462.882217},"composition":{"value":4463283150.481334,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"exact — the market IS a (collateral, loan) pair; and $1.92bn borrowed in dollars by the 19,331 accounts at 27 pooled venue(s) whose only collateral is bitcoin, read account by account from the pools' contracts (155, 156)","observer":null,"as_of":"2026-10-13","low":null,"high":null,"sub":"$2.55bn in bitcoin-collateral markets · $1.92bn from bitcoin-only accounts in pools (and $135m they borrowed in other currencies, not added); custody: >99% custodial · <1% consortium · <1% threshold-signature · <1% non-custodial; the pools lend $18.23bn in all (30-day mean): the bitcoin-only accounts' debt is counted above, $1.79bn is owed by accounts posting bitcoin among other collateral and is not added, nor is the rest; $49m borrowed in other currencies (EUR, CHF, BTC, ETH, SGD, GBP, unrecognised tokens) against bitcoin, shown separately","absent_because":null}},{"class_id":"minted","price":{"value":7.671345993658389,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"the rate charged on minted debt — a stability fee, or the rate a borrower set — debt-weighted; minted, with no lender","observer":"aggregator_defillama 74% · contract_read 26% of the 30-day debt","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.203498,"unit":"ratio","label":"realised LTV","kind":"observed","basis":"total debt over total collateral value across the 1 venue(s) whose reads carry both sides","observer":null,"as_of":"2026-10-12","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":37199071,"unit":"usd","label":"minted against bitcoin","kind":"exact","basis":"$2m in Sky's bitcoin vaults (the Vat replay) and $35m minted in bitcoin-collateral CDP markets (the aggregator) — each exact, per vault type or per (collateral, loan) pair","observer":null,"as_of":"2026-10-13","low":null,"high":null,"sub":"CDP markets custody: 80% custodial · 19% threshold-signature · 1% consortium; Sky's WBTC vaults: custodial (BitGo)","absent_because":null}},{"class_id":"auction","price":{"value":5.489079305555537,"unit":"pct","label":"30d cleared rate","kind":null,"basis":"one rate is both legs — the auction clears it","observer":"the Gavel curve","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.449126,"unit":"ratio","label":"realised LTV","kind":"observed","basis":"total debt over total collateral value across the 1 venue(s) whose reads carry both sides","observer":null,"as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":17421,"unit":"usd","label":"escrowed against bitcoin","kind":"exact","basis":"exact — the collateral is escrowed by the protocol against the loan","observer":null,"as_of":"2026-10-13","low":null,"high":null,"sub":"predominantly own-account — see the disclosure","absent_because":null}},{"class_id":"posted-card","price":{"value":11.714978768055905,"unit":"pct","label":"30d posted borrow","kind":"administered","basis":"the mean of 7 desks' posted cards over 30 days, equal-weighted — administered, not cleared","observer":"ccs_history","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.5,"unit":"ratio","label":"posted maximum LTV","kind":"ceiling","basis":"median across 11 current borrow card(s) — a ceiling the desks set, not an observation of their books","observer":"cefi_credit_rates","as_of":null,"low":0.4,"high":0.75,"sub":null,"absent_because":null},"composition":{"value":2419791897,"unit":"usd","label":"desk books against bitcoin","kind":"estimate","basis":"7 of 13 carded desks; $785m of it reported by 3 desk(s), the rest bounded from stated inputs","observer":null,"as_of":"2026-10-13","low":1623372397,"high":6244211397,"sub":"part measurement, part estimate — never merged into one figure without the range","absent_because":null}},{"class_id":"corporate","price":{"value":11.864690153096687,"unit":"pct","label":"30d holder yield","kind":"price_implied","basis":"declared rate over market price across priced instruments, equal-weighted — what a holder receives; there is no borrow leg","observer":"IEX last sale (IEX HIST); SEC EDGAR terms","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.3550615393269856,"unit":"ratio","label":"debt to bitcoin held","kind":"analogue","basis":"registered debt over the market value of 947,851 BTC the issuers report holding. NOT AN LTV: no lien exists over the coins","observer":"SEC EDGAR filings","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":26330129200,"unit":"usd","label":"debt financed by bitcoin","kind":"filed","basis":"financed BY bitcoin, never backed by it — no lien, no claim on the coins","observer":null,"as_of":"2026-10-13","low":null,"high":null,"sub":"USD instruments only; plus €857m (≈$977m) and ¥31.6bn (≈$200m) in other currencies, shown separately","absent_because":null}}],"families":[{"family_id":"aave_v2","display_name":"Aave v2","deployments":3,"price":{"value":12.325361176254818,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over the pools of 3 of 3 deployments — a combination of their numerators and denominators, not an average of their rates","observer":"contract_read — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":11887038.51725376,"unit":"usd","label":"lent from pools","kind":"pool","basis":"mean daily debt lent from the pooled reserves of 3 deployment(s) — no dollar of it is assignable to bitcoin","observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":null}},{"family_id":"aave_v3","display_name":"Aave v3","deployments":12,"price":{"value":4.775304905363192,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over the pools of 12 of 12 deployments — a combination of their numerators and denominators, not an average of their rates","observer":"aggregator_defillama 58% · contract_read 42% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":1390761290.505438,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"summed over 11 deployment(s) with an exact attribution; pooled books are not added to it","observer":null,"as_of":null,"low":null,"high":null,"sub":"plus $249m lent from pools","absent_because":null}},{"family_id":"aave_v4","display_name":"Aave v4","deployments":2,"price":{"value":4.378227400206051,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over the pools of 2 of 2 deployments — a combination of their numerators and denominators, not an average of their rates","observer":"contract_read — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":25993859.519709043,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"summed over 2 deployment(s) with an exact attribution; pooled books are not added to it","observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":null}},{"family_id":"compound_v3","display_name":"Compound v3","deployments":5,"price":{"value":4.996802237599867,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over the pools of 5 of 5 deployments — a combination of their numerators and denominators, not an average of their rates","observer":"aggregator_defillama 62% · contract_read 38% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":97417423.32449931,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"summed over 5 deployment(s) with an exact attribution; pooled books are not added to it","observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":null}},{"family_id":"curve_llamalend","display_name":"Curve LlamaLend","deployments":3,"price":{"value":2.5897703216408194,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over the pools of 1 of 3 deployments — a combination of their numerators and denominators, not an average of their rates","observer":"aggregator_defillama 78% · contract_read 22% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"No read of this venue carries its collateral: the aggregator reports the loan book, not what backs it, and no contract-state or venue-API read is ingested here yet."},"composition":{"value":2727489.0804941985,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"summed over 1 deployment(s) with an exact attribution; pooled books are not added to it","observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":null}},{"family_id":"dolomite","display_name":"Dolomite","deployments":3,"price":{"value":4.782343943605579,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over the pools of 3 of 3 deployments — a combination of their numerators and denominators, not an average of their rates","observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":321434357.9626833,"unit":"usd","label":"lent from pools","kind":"pool","basis":"mean daily debt lent from the pooled reserves of 3 deployment(s) — no dollar of it is assignable to bitcoin","observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":null}},{"family_id":"euler_v2","display_name":"Euler v2","deployments":8,"price":{"value":9.14647676208775,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over the pools of 7 of 8 deployments — a combination of their numerators and denominators, not an average of their rates","observer":"aggregator_defillama 56% · contract_read 44% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":150791951.03340328,"unit":"usd","label":"lent from pools","kind":"pool","basis":"mean daily debt lent from the pooled reserves of 7 deployment(s) — no dollar of it is assignable to bitcoin","observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":null}},{"family_id":"extra_finance_xlend","display_name":"Extra Finance xLend","deployments":2,"price":{"value":3.454669885489425,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over the pools of 1 of 2 deployments — a combination of their numerators and denominators, not an average of their rates","observer":"aggregator_defillama — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":382721.56666666665,"unit":"usd","label":"lent from pools","kind":"pool","basis":"mean daily debt lent from the pooled reserves of 1 deployment(s) — no dollar of it is assignable to bitcoin","observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":null}},{"family_id":"fluid_lending","display_name":"Fluid Lending","deployments":4,"price":{"value":6.199967322884888,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over the pools of 4 of 4 deployments — a combination of their numerators and denominators, not an average of their rates","observer":"contract_read >99% · aggregator_defillama <1% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"No read of this venue carries its collateral: the aggregator reports the loan book, not what backs it, and no contract-state or venue-API read is ingested here yet."},"composition":{"value":27250323.86273384,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"summed over 4 deployment(s) with an exact attribution; pooled books are not added to it","observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":null}},{"family_id":"folks_finance_xchain","display_name":"Folks Finance xChain","deployments":4,"price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no deployment of this family has a USD loan above the curve's floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no deployment of this family has debt observed against bitcoin or lent from a pool"}},{"family_id":"moonwell_lending","display_name":"Moonwell Lending","deployments":2,"price":{"value":16.197515082585255,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over the pools of 1 of 2 deployments — a combination of their numerators and denominators, not an average of their rates","observer":"contract_read 60% · aggregator_defillama 40% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":1036702.2888739998,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"summed over 1 deployment(s) with an exact attribution; pooled books are not added to it","observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":null}},{"family_id":"morpho_blue","display_name":"Morpho Blue","deployments":10,"price":{"value":5.039036861220124,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over the pools of 9 of 10 deployments — a combination of their numerators and denominators, not an average of their rates","observer":"aggregator_defillama 69% · contract_read 31% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.491506955231706,"unit":"ratio","label":"realised LTV","kind":"observed","basis":"total debt over total collateral value across the 2 of 10 deployments whose reads carry both sides — a sum of books, not an average of ratios","observer":null,"as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":2503570136.6331515,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"summed over 8 deployment(s) with an exact attribution; pooled books are not added to it","observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":null}},{"family_id":"silo_v2","display_name":"Silo v2","deployments":2,"price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no deployment of this family has a USD loan above the curve's floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no deployment of this family has debt observed against bitcoin or lent from a pool"}}],"venues":[{"venue_id":"aave_v1_ethereum","family_id":"aave_v1","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"aave_v2_avalanche","family_id":"aave_v2","class_id":"algorithmic","price":{"value":22.109227211305505,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 7 day(s) observed; continuously compounded","observer":"contract_read — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":369297.65751975414,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"contract_read (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 55.4% of the pool's collateral","absent_because":null}},{"venue_id":"aave_v2_ethereum","family_id":"aave_v2","class_id":"algorithmic","price":{"value":10.689153955335906,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 3 pool(s), 7 day(s) observed; continuously compounded","observer":"contract_read — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":9179388.662254317,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"contract_read (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 26.1% of the pool's collateral","absent_because":null}},{"venue_id":"aave_v2_polygon","family_id":"aave_v2","class_id":"algorithmic","price":{"value":17.20325049372555,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 3 pool(s), 7 day(s) observed; continuously compounded","observer":"contract_read — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":2338352.1974796904,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"contract_read (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 25.6% of the pool's collateral","absent_because":null}},{"venue_id":"aave_v3_arbitrum","family_id":"aave_v3","class_id":"algorithmic","price":{"value":4.518924717068877,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 64% · contract_read 36% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.3661317213388889,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 3,337 accounts whose only collateral is bitcoin, read from the pool's contracts at block 514336028 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"5,894 more accounts post bitcoin among other collateral ($109m of $225m) — not in this figure","absent_because":null},"composition":{"value":45312273.222539715,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 3,337 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 514336028. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"and $2m borrowed in other currencies against the same bitcoin, not added; plus $84m owed in dollars by 5,894 accounts posting bitcoin among other collateral, not added; the pool lends $40m in all (30-day mean); largest borrower 4.4%, top 10 26.4%","absent_because":null}},{"venue_id":"aave_v3_avalanche","family_id":"aave_v3","class_id":"algorithmic","price":{"value":6.312198220023684,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 3 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 62% · contract_read 38% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.3757212028853966,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 958 accounts whose only collateral is bitcoin, read from the pool's contracts at block 97419962 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"1,100 more accounts post bitcoin among other collateral ($37m of $58m) — not in this figure","absent_because":null},"composition":{"value":17984596.56904011,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 958 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 97419962. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"and $1m borrowed in other currencies against the same bitcoin, not added; plus $18m owed in dollars by 1,100 accounts posting bitcoin among other collateral, not added; the pool lends $83m in all (30-day mean); largest borrower 11.0%, top 10 39.9%","absent_because":null}},{"venue_id":"aave_v3_base","family_id":"aave_v3","class_id":"algorithmic","price":{"value":4.840380044240671,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 63% · contract_read 37% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.40030438276458086,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 3,328 accounts whose only collateral is bitcoin, read from the pool's contracts at block 52539834 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"4,819 more accounts post bitcoin among other collateral ($85m of $162m) — not in this figure","absent_because":null},"composition":{"value":52591677.43515295,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 3,328 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 52539834. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"and $6m borrowed in other currencies against the same bitcoin, not added; plus $59m owed in dollars by 4,819 accounts posting bitcoin among other collateral, not added; the pool lends $163m in all (30-day mean); largest borrower 5.3%, top 10 23.0%","absent_because":null}},{"venue_id":"aave_v3_bsc","family_id":"aave_v3","class_id":"algorithmic","price":{"value":4.0196490187833325,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 62% · contract_read 38% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.42376706530724656,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 1,219 accounts whose only collateral is bitcoin, read from the pool's contracts at block 127347081 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"1,104 more accounts post bitcoin among other collateral ($25m of $93m) — not in this figure","absent_because":null},"composition":{"value":18158326.73729865,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 1,219 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 127347081. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"and $7m borrowed in other currencies against the same bitcoin, not added; plus $26m owed in dollars by 1,104 accounts posting bitcoin among other collateral, not added; the pool lends $63m in all (30-day mean); largest borrower 24.2%, top 10 52.7%","absent_because":null}},{"venue_id":"aave_v3_ethereum","family_id":"aave_v3","class_id":"algorithmic","price":{"value":4.747450098014669,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 15 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 58% · contract_read 42% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.40611375602169836,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 4,452 accounts whose only collateral is bitcoin, read from the pool's contracts at block 26181409 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"5,150 more accounts post bitcoin among other collateral ($1.43bn of $2.69bn) — not in this figure","absent_because":null},"composition":{"value":1232163031.0354488,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 4,452 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 26181409. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"and $50m borrowed in other currencies against the same bitcoin, not added; plus $986m owed in dollars by 5,150 accounts posting bitcoin among other collateral, not added; the pool lends $3.88bn in all (30-day mean); largest borrower 17.8%, top 10 48.0%","absent_because":null}},{"venue_id":"aave_v3_linea","family_id":"aave_v3","class_id":"algorithmic","price":{"value":4.198383852375199,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 65% · contract_read 35% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.4542952877411599,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 21 accounts whose only collateral is bitcoin, read from the pool's contracts at block 32308961 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"62 more accounts post bitcoin among other collateral ($589,983 of $2m) — not in this figure","absent_because":null},"composition":{"value":57514.080887561315,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 21 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 32308961. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $565,835 owed in dollars by 62 accounts posting bitcoin among other collateral, not added; the pool lends $2m in all (30-day mean); largest borrower 65.5%, top 10 99.7%","absent_because":null}},{"venue_id":"aave_v3_mantle","family_id":"aave_v3","class_id":"algorithmic","price":{"value":4.141574770288557,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 3 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 61% · contract_read 39% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.5151083907149724,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 7 accounts whose only collateral is bitcoin, read from the pool's contracts at block 101869584 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"0 more accounts post bitcoin among other collateral ($0 of $0) — not in this figure","absent_because":null},"composition":{"value":5767957.548284064,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 7 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 101869584. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $0 owed in dollars by 0 accounts posting bitcoin among other collateral, not added; the pool lends $143m in all (30-day mean); largest borrower 74.6%, top 10 100.0%","absent_because":null}},{"venue_id":"aave_v3_megaeth","family_id":"aave_v3","class_id":"algorithmic","price":{"value":5.8207423045691655,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 63% · contract_read 37% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.3654483658633374,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 3 accounts whose only collateral is bitcoin, read from the pool's contracts at block 29072500 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"0 more accounts post bitcoin among other collateral ($0 of $0) — not in this figure","absent_because":null},"composition":{"value":15520.806346082898,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 3 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 29072500. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $0 owed in dollars by 0 accounts posting bitcoin among other collateral, not added; the pool lends $6m in all (30-day mean); largest borrower 90.3%, top 10 100.0%","absent_because":null}},{"venue_id":"aave_v3_monad","family_id":"aave_v3","class_id":"algorithmic","price":{"value":5.210882350363275,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 6 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 62% · contract_read 38% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":248795518.64417854,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 62% · contract_read 38% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 0.1% of the pool's collateral","absent_because":null}},{"venue_id":"aave_v3_optimism","family_id":"aave_v3","class_id":"algorithmic","price":{"value":4.0008546928129,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 63% · contract_read 37% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.3873277534688871,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 210 accounts whose only collateral is bitcoin, read from the pool's contracts at block 158135278 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"407 more accounts post bitcoin among other collateral ($9m of $15m) — not in this figure","absent_because":null},"composition":{"value":1681889.3723498224,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 210 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 158135278. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $6m owed in dollars by 407 accounts posting bitcoin among other collateral, not added; the pool lends $3m in all (30-day mean); largest borrower 6.9%, top 10 45.4%","absent_because":null}},{"venue_id":"aave_v3_polygon","family_id":"aave_v3","class_id":"algorithmic","price":{"value":6.634344623198883,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 62% · contract_read 38% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.4511454472424119,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 1,908 accounts whose only collateral is bitcoin, read from the pool's contracts at block 95442612 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"2,948 more accounts post bitcoin among other collateral ($25m of $43m) — not in this figure","absent_because":null},"composition":{"value":16934583.559321776,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 1,908 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 95442612. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"and $1m borrowed in other currencies against the same bitcoin, not added; plus $15m owed in dollars by 2,948 accounts posting bitcoin among other collateral, not added; the pool lends $23m in all (30-day mean); largest borrower 19.7%, top 10 51.4%","absent_because":null}},{"venue_id":"aave_v3_xlayer","family_id":"aave_v3","class_id":"algorithmic","price":{"value":4.2246662015051815,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 3 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 69% · contract_read 31% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.4658955576838362,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 44 accounts whose only collateral is bitcoin, read from the pool's contracts at block 73100460 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"28 more accounts post bitcoin among other collateral ($378,843 of $612,036) — not in this figure","absent_because":null},"composition":{"value":93920.13876835146,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 44 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 73100460. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $135,097 owed in dollars by 28 accounts posting bitcoin among other collateral, not added; the pool lends $65m in all (30-day mean); largest borrower 26.6%, top 10 91.8%","absent_because":null}},{"venue_id":"aave_v4_avalanche","family_id":"aave_v4","class_id":"algorithmic","price":{"value":1.3763056019254796,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 7 day(s) observed; continuously compounded","observer":"contract_read — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.49605691017429826,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 50 accounts whose only collateral is bitcoin, read from the pool's contracts at block 97420963 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"32 more accounts post bitcoin among other collateral ($3m of $3m) — not in this figure","absent_because":null},"composition":{"value":3030132.31655336,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 50 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 97420963. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $2m owed in dollars by 32 accounts posting bitcoin among other collateral, not added; the pool lends $6m in all (30-day mean); largest borrower 52.1%, top 10 92.7%","absent_because":null}},{"venue_id":"aave_v4_ethereum","family_id":"aave_v4","class_id":"algorithmic","price":{"value":4.465974994890205,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 26 pool(s), 7 day(s) observed; continuously compounded","observer":"contract_read — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.41512602823627676,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 423 accounts whose only collateral is bitcoin, read from the pool's contracts at block 26181562 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"282 more accounts post bitcoin among other collateral ($38m of $61m) — not in this figure","absent_because":null},"composition":{"value":22963727.20315568,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 423 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 26181562. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"and $1m borrowed in other currencies against the same bitcoin, not added; plus $20m owed in dollars by 282 accounts posting bitcoin among other collateral, not added; the pool lends $191m in all (30-day mean); largest borrower 8.8%, top 10 47.6%","absent_because":null}},{"venue_id":"arcadia_v2_base","family_id":"arcadia_v2","class_id":"algorithmic","price":{"value":12.364215193345476,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 96% · contract_read 4% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":1856883.8728783333,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 96% · contract_read 4% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 8.4% of the pool's collateral","absent_because":null}},{"venue_id":"asymmetry_usdaf_ethereum","family_id":"asymmetry_usdaf","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"avalon_finance_bob","family_id":"avalon_finance","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"benqi_lending_avalanche","family_id":"benqi_lending","class_id":"algorithmic","price":{"value":8.205257158504162,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 63% · contract_read 37% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.19301967334161352,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 89 accounts whose only collateral is bitcoin, read from the pool's contracts at block 97420703 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"$27 of it owed by 1 account already past the venue's liquidation point (0% of the debt) — unliquidated, and in this figure; 169 more accounts post bitcoin among other collateral ($7m of $11m) — not in this figure","absent_because":null},"composition":{"value":414194.7200740001,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 89 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 97420703. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $3m owed in dollars by 169 accounts posting bitcoin among other collateral, not added; the pool lends $17m in all (30-day mean); largest borrower 38.2%, top 10 90.2%","absent_because":null}},{"venue_id":"broker_fidelity","family_id":"fidelity","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no current borrow card with a rate has been sourced for this desk"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"the desk publishes no maximum LTV on a sourced card, and no realised LTV"},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"broker_ibkr","family_id":"ibkr","class_id":"posted-card","price":{"value":5.63,"unit":"pct","label":"posted borrow card","kind":"administered","basis":"median of 2 current cards — administered: a price the desk sets, not one a market cleared","observer":"cefi_credit_rates — the desk's published card","as_of":null,"low":5.13,"high":6.13,"sub":"2 of 2 card(s) not re-verified within 45 days","absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"the desk publishes no maximum LTV on a sourced card, and no realised LTV"},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"broker_schwab","family_id":"schwab","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no current borrow card with a rate has been sourced for this desk"},"quality":{"value":0.5,"unit":"ratio","label":"posted maximum LTV","kind":"ceiling","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book","observer":"cefi_credit_rates — the desk's published card","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"cefi_arch","family_id":"arch","class_id":"posted-card","price":{"value":10.49,"unit":"pct","label":"posted borrow card","kind":"administered","basis":"the desk's current card — administered: a price the desk sets, not one a market cleared","observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-21","low":10.49,"high":10.49,"sub":null,"absent_because":null},"quality":{"value":0.6,"unit":"ratio","label":"posted maximum LTV","kind":"ceiling","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book","observer":"cefi_credit_rates — the desk's published card","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"cefi_blockfi","family_id":"blockfi","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no current borrow card with a rate has been sourced for this desk"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"the desk publishes no maximum LTV on a sourced card, and no realised LTV"},"composition":{"value":0,"unit":"usd","label":"book against bitcoin","kind":"reported","basis":"as the desk or its filings report it — grade reported_no_assurance","observer":"cefi_book_observations","as_of":"2026-09-16","low":null,"high":null,"sub":null,"absent_because":null}},{"venue_id":"cefi_cantor","family_id":"cantor","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no current borrow card with a rate has been sourced for this desk"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"the desk publishes no maximum LTV on a sourced card, and no realised LTV"},"composition":{"value":447000000,"unit":"usd","label":"book against bitcoin","kind":"estimate","basis":"a bounded estimate, midpoint shown — grade derived","observer":"cefi_book_observations","as_of":"2026-09-16","low":100000000,"high":2000000000,"sub":null,"absent_because":null}},{"venue_id":"cefi_celsius","family_id":"celsius","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no current borrow card with a rate has been sourced for this desk"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"the desk publishes no maximum LTV on a sourced card, and no realised LTV"},"composition":{"value":0,"unit":"usd","label":"book against bitcoin","kind":"reported","basis":"as the desk or its filings report it — grade reported_no_assurance","observer":"cefi_book_observations","as_of":"2026-09-16","low":null,"high":null,"sub":null,"absent_because":null}},{"venue_id":"cefi_coinbase_morpho","family_id":"coinbase_morpho","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no current borrow card with a rate has been sourced for this desk"},"quality":{"value":0.75,"unit":"ratio","label":"posted maximum LTV","kind":"ceiling","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book","observer":"cefi_credit_rates — the desk's published card","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"cefi_cred","family_id":"cred","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no current borrow card with a rate has been sourced for this desk"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"the desk publishes no maximum LTV on a sourced card, and no realised LTV"},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"cefi_figure","family_id":"figure","class_id":"posted-card","price":{"value":9.999,"unit":"pct","label":"posted borrow card","kind":"administered","basis":"the desk's current card — administered: a price the desk sets, not one a market cleared","observer":"cefi_credit_rates — the desk's published card","as_of":"2026-10-09","low":9.999,"high":9.999,"sub":null,"absent_because":null},"quality":{"value":0.75,"unit":"ratio","label":"posted maximum LTV","kind":"ceiling","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book","observer":"cefi_credit_rates — the desk's published card","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"cefi_galaxy","family_id":"galaxy","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this lender negotiates terms per borrower and publishes no card, so there is no posted price to read"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"the desk publishes no maximum LTV on a sourced card, and no realised LTV"},"composition":{"value":763356000,"unit":"usd","label":"book against bitcoin","kind":"estimate","basis":"a bounded estimate, midpoint shown — grade derived","observer":"cefi_book_observations","as_of":"2026-06-30","low":667936500,"high":858775500,"sub":null,"absent_because":null}},{"venue_id":"cefi_genesis","family_id":"genesis","class_id":null,"price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this venue belongs to no rate class"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"No read of this venue carries its collateral: the aggregator reports the loan book, not what backs it, and no contract-state or venue-API read is ingested here yet."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"cefi_hodlnaut","family_id":"hodlnaut","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no current borrow card with a rate has been sourced for this desk"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"the desk publishes no maximum LTV on a sourced card, and no realised LTV"},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"cefi_ledn","family_id":"ledn","class_id":"posted-card","price":{"value":11.49,"unit":"pct","label":"posted borrow card","kind":"administered","basis":"the desk's current card — administered: a price the desk sets, not one a market cleared","observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-11","low":11.49,"high":11.49,"sub":null,"absent_because":null},"quality":{"value":0.5,"unit":"ratio","label":"posted maximum LTV","kind":"ceiling","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book","observer":"cefi_credit_rates — the desk's published card","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":785435897,"unit":"usd","label":"book against bitcoin","kind":"reported","basis":"as the desk or its filings report it — grade self_reported","observer":"cefi_book_observations","as_of":"2026-10-01","low":null,"high":null,"sub":null,"absent_because":null}},{"venue_id":"cefi_milo","family_id":"milo","class_id":"posted-card","price":{"value":10.75,"unit":"pct","label":"posted borrow card","kind":"administered","basis":"the desk's current card — administered: a price the desk sets, not one a market cleared","observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-21","low":10.75,"high":10.75,"sub":null,"absent_because":null},"quality":{"value":0.5,"unit":"ratio","label":"posted maximum LTV","kind":"ceiling","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book","observer":"cefi_credit_rates — the desk's published card","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"cefi_nexo","family_id":"nexo","class_id":"posted-card","price":{"value":17.9,"unit":"pct","label":"posted borrow card","kind":"administered","basis":"the desk's current card — administered: a price the desk sets, not one a market cleared","observer":"cefi_credit_rates — the desk's published card","as_of":"2026-10-09","low":17.9,"high":17.9,"sub":null,"absent_because":null},"quality":{"value":0.5,"unit":"ratio","label":"posted maximum LTV","kind":"ceiling","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book","observer":"cefi_credit_rates — the desk's published card","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":850000000,"unit":"usd","label":"whole book (all collateral)","kind":"estimate","basis":"a bounded estimate, midpoint shown — grade derived; collateral all_collateral, so not a bitcoin-only figure and not counted in the bitcoin total","observer":"cefi_book_observations","as_of":"2026-09-16","low":0,"high":1700000000,"sub":null,"absent_because":null}},{"venue_id":"cefi_salt","family_id":"salt","class_id":"posted-card","price":{"value":8.75,"unit":"pct","label":"posted borrow card","kind":"administered","basis":"the desk's current card — administered: a price the desk sets, not one a market cleared","observer":"cefi_credit_rates — the desk's published card","as_of":"2026-10-09","low":8.75,"high":8.75,"sub":null,"absent_because":null},"quality":{"value":0.5,"unit":"ratio","label":"posted maximum LTV","kind":"ceiling","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book","observer":"cefi_credit_rates — the desk's published card","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":45000000,"unit":"usd","label":"whole book (all collateral)","kind":"estimate","basis":"a bounded estimate, midpoint shown — grade derived; collateral all_collateral, so not a bitcoin-only figure and not counted in the bitcoin total","observer":"cefi_book_observations","as_of":"2026-09-16","low":10000000,"high":200000000,"sub":null,"absent_because":null}},{"venue_id":"cefi_strike","family_id":"strike","class_id":"posted-card","price":{"value":14.2,"unit":"pct","label":"posted borrow card","kind":"administered","basis":"the desk's current card — administered: a price the desk sets, not one a market cleared","observer":"cefi_credit_rates — the desk's published card","as_of":"2026-07-21","low":14.2,"high":14.2,"sub":"1 of 1 card(s) not re-verified within 45 days","absent_because":null},"quality":{"value":0.45,"unit":"ratio","label":"posted maximum LTV","kind":"ceiling","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book","observer":"cefi_credit_rates — the desk's published card","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":324000000,"unit":"usd","label":"book against bitcoin","kind":"estimate","basis":"a bounded estimate, midpoint shown — grade derived","observer":"cefi_book_observations","as_of":"2026-09-16","low":50000000,"high":2100000000,"sub":null,"absent_because":null}},{"venue_id":"cefi_tether","family_id":"tether","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this lender negotiates terms per borrower and publishes no card, so there is no posted price to read"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"the desk publishes no maximum LTV on a sourced card, and no realised LTV"},"composition":{"value":13453749726,"unit":"usd","label":"whole book (all collateral)","kind":"reported","basis":"as the desk or its filings report it — grade reviewed_unaudited; collateral unstated, so not a bitcoin-only figure and not counted in the bitcoin total","observer":"cefi_book_observations","as_of":"2026-06-30","low":null,"high":null,"sub":null,"absent_because":null}},{"venue_id":"cefi_two_prime","family_id":"two_prime","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this lender negotiates terms per borrower and publishes no card, so there is no posted price to read"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"the desk publishes no maximum LTV on a sourced card, and no realised LTV"},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"cefi_unchained","family_id":"unchained","class_id":"posted-card","price":{"value":14.18,"unit":"pct","label":"posted borrow card","kind":"administered","basis":"the desk's current card — administered: a price the desk sets, not one a market cleared","observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-21","low":14.18,"high":14.18,"sub":null,"absent_because":null},"quality":{"value":0.5,"unit":"ratio","label":"posted maximum LTV","kind":"ceiling","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book","observer":"cefi_credit_rates — the desk's published card","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"cefi_vauld","family_id":"vauld","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no current borrow card with a rate has been sourced for this desk"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"the desk publishes no maximum LTV on a sourced card, and no realised LTV"},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"cefi_voyager","family_id":"voyager","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no current borrow card with a rate has been sourced for this desk"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"the desk publishes no maximum LTV on a sourced card, and no realised LTV"},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"cefi_xapo","family_id":"xapo","class_id":"posted-card","price":{"value":10.5,"unit":"pct","label":"posted borrow card","kind":"administered","basis":"median of 4 current cards — administered: a price the desk sets, not one a market cleared","observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-11","low":10.5,"high":10.5,"sub":null,"absent_because":null},"quality":{"value":0.4,"unit":"ratio","label":"posted maximum LTV","kind":"ceiling","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book","observer":"cefi_credit_rates — the desk's published card","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":100000000,"unit":"usd","label":"book against bitcoin","kind":"estimate","basis":"a bounded estimate, midpoint shown — grade derived","observer":"cefi_book_observations","as_of":"2026-09-16","low":20000000,"high":500000000,"sub":null,"absent_because":null}},{"venue_id":"colend_protocol_core","family_id":"colend_protocol","class_id":"algorithmic","price":{"value":16,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"all of this venue's debt is in fully drawn pools — a rate existing borrowers pay, with nothing left to borrow","absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":321812.4,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"no bitcoin in the pool's collateral","absent_because":null}},{"venue_id":"compound_v2_ethereum","family_id":"compound_v2","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":0.18289580110393439,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 173 accounts whose only collateral is bitcoin, read from the pool's contracts at block 26181553 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"$2,808 of it owed by 23 accounts already past the venue's liquidation point (0% of the debt) — unliquidated, and in this figure; 119 more accounts post bitcoin among other collateral ($2m of $4m) — not in this figure","absent_because":null},"composition":{"value":2826693.9973459993,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 173 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 26181553. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $840,298 owed in dollars by 119 accounts posting bitcoin among other collateral, not added; largest borrower 38.3%, top 10 92.8%","absent_because":null}},{"venue_id":"compound_v3_arbitrum","family_id":"compound_v3","class_id":"algorithmic","price":{"value":3.426987598556157,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 64% · contract_read 36% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.4386698623939769,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 268 accounts whose only collateral is bitcoin, read from the pool's contracts at block 514340091 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"287 more accounts post bitcoin among other collateral ($11m of $20m) — not in this figure","absent_because":null},"composition":{"value":8663056.310247352,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 268 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 514340091. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $8m owed in dollars by 287 accounts posting bitcoin among other collateral, not added; the pool lends $10m in all (30-day mean); largest borrower 24.0%, top 10 65.6%","absent_because":null}},{"venue_id":"compound_v3_base","family_id":"compound_v3","class_id":"algorithmic","price":{"value":6.366882497937811,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 65% · contract_read 35% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.46271254938973794,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 127 accounts whose only collateral is bitcoin, read from the pool's contracts at block 52540276 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"131 more accounts post bitcoin among other collateral ($3m of $6m) — not in this figure","absent_because":null},"composition":{"value":2642740.2481582947,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 127 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 52540276. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $3m owed in dollars by 131 accounts posting bitcoin among other collateral, not added; the pool lends $8m in all (30-day mean); largest borrower 25.3%, top 10 71.8%","absent_because":null}},{"venue_id":"compound_v3_ethereum","family_id":"compound_v3","class_id":"algorithmic","price":{"value":5.007077656755789,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 62% · contract_read 38% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.4390888761044378,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 338 accounts whose only collateral is bitcoin, read from the pool's contracts at block 26181495 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"248 more accounts post bitcoin among other collateral ($385m of $584m) — not in this figure","absent_because":null},"composition":{"value":83782159.70120493,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 338 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 26181495. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $273m owed in dollars by 248 accounts posting bitcoin among other collateral, not added; the pool lends $478m in all (30-day mean); largest borrower 17.4%, top 10 47.0%","absent_because":null}},{"venue_id":"compound_v3_optimism","family_id":"compound_v3","class_id":"algorithmic","price":{"value":5.25261617512864,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 63% · contract_read 37% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.44860096202043714,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 40 accounts whose only collateral is bitcoin, read from the pool's contracts at block 158135584 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"60 more accounts post bitcoin among other collateral ($1m of $3m) — not in this figure","absent_because":null},"composition":{"value":1478646.7385743982,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 40 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 158135584. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $823,624 owed in dollars by 60 accounts posting bitcoin among other collateral, not added; the pool lends $1m in all (30-day mean); largest borrower 50.3%, top 10 93.1%","absent_because":null}},{"venue_id":"compound_v3_polygon","family_id":"compound_v3","class_id":"algorithmic","price":{"value":2.7870243514228488,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 63% · contract_read 37% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.46324522660253636,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 34 accounts whose only collateral is bitcoin, read from the pool's contracts at block 95443296 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"27 more accounts post bitcoin among other collateral ($1m of $1m) — not in this figure","absent_because":null},"composition":{"value":850820.3263143366,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 34 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 95443296. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $738,721 owed in dollars by 27 accounts posting bitcoin among other collateral, not added; the pool lends $341,746 in all (30-day mean); largest borrower 63.5%, top 10 95.7%","absent_because":null}},{"venue_id":"corp_blockchain_group","family_id":"blockchain_group","class_id":"corporate","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no listed instrument of this issuer carries a market price, so there is no price-implied yield"},"quality":{"value":0.32214029690226825,"unit":"ratio","label":"debt to bitcoin held","kind":"analogue","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them","observer":"SEC EDGAR filings","as_of":"2026-09-14","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"all of this issuer's registered debt is outside USD: €82m (≈$93m) in other currencies — shown separately, not in the BTC-USD figures"}},{"venue_id":"corp_marathon","family_id":"mara","class_id":"corporate","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no listed instrument of this issuer carries a market price, so there is no price-implied yield"},"quality":{"value":1.4171782145000484,"unit":"ratio","label":"debt to bitcoin held","kind":"analogue","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them","observer":"SEC EDGAR filings","as_of":"2026-06-30","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":3047201000,"unit":"usd","label":"debt financed by bitcoin","kind":"filed","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it","observer":"issuer filings","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null}},{"venue_id":"corp_metaplanet","family_id":"metaplanet","class_id":"corporate","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no listed instrument of this issuer carries a market price, so there is no price-implied yield"},"quality":{"value":0.17478722734536986,"unit":"ratio","label":"debt to bitcoin held","kind":"analogue","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them","observer":"SEC EDGAR filings","as_of":"2026-08-18","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":414000000,"unit":"usd","label":"debt financed by bitcoin","kind":"filed","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it","observer":"issuer filings","as_of":null,"low":null,"high":null,"sub":"¥31.6bn (≈$200m) in other currencies, not added","absent_because":null}},{"venue_id":"corp_riot","family_id":"riot","class_id":"corporate","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no listed instrument of this issuer carries a market price, so there is no price-implied yield"},"quality":{"value":0.8540481763595609,"unit":"ratio","label":"debt to bitcoin held","kind":"analogue","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them","observer":"SEC EDGAR filings","as_of":"2026-06-30","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":794383000,"unit":"usd","label":"debt financed by bitcoin","kind":"filed","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it","observer":"issuer filings","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null}},{"venue_id":"corp_strategy","family_id":"strategy","class_id":"corporate","price":{"value":11.3721357482297,"unit":"pct","label":"holder yield","kind":"price_implied","basis":"declared rate over market price, weighted by outstanding, over 3 priced instrument(s) (STRF, STRK, STRD) — what a holder receives; there is no borrow leg","observer":"IEX last sale (IEX HIST); SEC EDGAR terms","as_of":"2026-10-12","low":9.669309611293754,"high":13.693002875530604,"sub":null,"absent_because":null},"quality":{"value":0.32154789289245467,"unit":"ratio","label":"debt to bitcoin held","kind":"analogue","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them","observer":"SEC EDGAR filings","as_of":"2026-07-24","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":21291595000,"unit":"usd","label":"debt financed by bitcoin","kind":"filed","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it","observer":"issuer filings","as_of":null,"low":null,"high":null,"sub":"€775m (≈$884m) in other currencies, not added","absent_because":null}},{"venue_id":"corp_strive","family_id":"strive","class_id":"corporate","price":{"value":13.078470824949695,"unit":"pct","label":"holder yield","kind":"price_implied","basis":"declared rate over market price, weighted by outstanding, over 1 priced instrument(s) (SATA) — what a holder receives; there is no borrow leg","observer":"IEX last sale (IEX HIST); SEC EDGAR terms","as_of":"2026-10-12","low":13.078470824949697,"high":13.078470824949697,"sub":null,"absent_because":null},"quality":{"value":0.48223877008838967,"unit":"ratio","label":"debt to bitcoin held","kind":"analogue","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them","observer":"SEC EDGAR filings","as_of":"2026-06-30","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":782950200,"unit":"usd","label":"debt financed by bitcoin","kind":"filed","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it","observer":"issuer filings","as_of":null,"low":null,"high":null,"sub":null,"absent_because":null}},{"venue_id":"crvusd_ethereum","family_id":"crvusd","class_id":"minted","price":{"value":3.510134387404177,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 7 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 78% · contract_read 22% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.474240441169634,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":37138985.18219091,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"aggregator_defillama 78% · contract_read 22% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: 82% custodial (BitGo, Coinbase) · 18% threshold-signature · <1% consortium (Anchorage Digital Bank, Kraken Institutional) (latest day)","absent_because":null}},{"venue_id":"current_sui","family_id":"current","class_id":"algorithmic","price":{"value":4.258280744228055,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 4 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":50304775.773877785,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 2.4% of the pool's collateral","absent_because":null}},{"venue_id":"curvance_monad","family_id":"curvance","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this venue's debt is outside USD: ≈$118,100 in BTC lent from a pool (30-day mean) — shown separately, not in the BTC-USD figures"}},{"venue_id":"curve_llamalend_arbitrum","family_id":"curve_llamalend","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":0.5328774876295158,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":"crvUSD borrow","absent_because":null},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"curve_llamalend_ethereum","family_id":"curve_llamalend","class_id":"algorithmic","price":{"value":2.5897703216408194,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 11 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 78% · contract_read 22% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.5222663019391124,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":"crvUSD borrow","absent_because":null},"composition":{"value":2727489.0804941985,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"aggregator_defillama 78% · contract_read 22% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: 99% custodial (BitGo) · 1% threshold-signature (latest day)","absent_because":null}},{"venue_id":"curve_llamalend_optimism","family_id":"curve_llamalend","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":0.4651606273734213,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":"USDC borrow","absent_because":null},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"dolomite_arbitrum","family_id":"dolomite","class_id":"algorithmic","price":{"value":7.763892923331044,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 74% · contract_read 26% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":2931433.0052141105,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 74% · contract_read 26% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 22.5% of the pool's collateral","absent_because":null}},{"venue_id":"dolomite_berachain","family_id":"dolomite","class_id":"algorithmic","price":{"value":5.929018601970797,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":1993477.3087717406,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 2.4% of the pool's collateral","absent_because":null}},{"venue_id":"dolomite_ethereum","family_id":"dolomite","class_id":"algorithmic","price":{"value":4.747507444790975,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":316509447.6486975,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 0.1% of the pool's collateral","absent_because":null}},{"venue_id":"echelon_market_aptos","family_id":"echelon_market","class_id":"algorithmic","price":{"value":6.536252355077709,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 3 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 75% · contract_read 25% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":10185830.63659471,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 75% · contract_read 25% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 2.8% of the pool's collateral","absent_because":null}},{"venue_id":"etherfi_borrowing_optimism","family_id":"etherfi_borrowing","class_id":"algorithmic","price":{"value":4.009534020258295,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 3 pool(s), 7 day(s) observed; continuously compounded","observer":"contract_read — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.25923928085713405,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 18 accounts whose only collateral is bitcoin, read from the pool's contracts at block 158135836 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"300 more accounts post bitcoin among other collateral ($1m of $9m) — not in this figure","absent_because":null},"composition":{"value":17844.517180685787,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 18 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 158135836. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $3m owed in dollars by 300 accounts posting bitcoin among other collateral, not added; the pool lends $40m in all (30-day mean); largest borrower 36.1%, top 10 97.3%","absent_because":null}},{"venue_id":"euler_v2_arbitrum","family_id":"euler_v2","class_id":"algorithmic","price":{"value":13.911183722069005,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 68% · contract_read 32% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":328086.8915562,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 68% · contract_read 32% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 3.4% of the pool's collateral","absent_because":null}},{"venue_id":"euler_v2_avalanche","family_id":"euler_v2","class_id":"algorithmic","price":{"value":15.436671834999213,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 3 pool(s), 30 day(s) observed; continuously compounded","observer":"contract_read 69% · aggregator_defillama 31% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"all of this venue's debt is in fully drawn pools — a rate existing borrowers pay, with nothing left to borrow","absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":32284731.355817966,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"contract_read 69% · aggregator_defillama 31% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 1.4% of the pool's collateral","absent_because":null}},{"venue_id":"euler_v2_base","family_id":"euler_v2","class_id":"algorithmic","price":{"value":14.46456670344429,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 64% · contract_read 36% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":913250.8076880138,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 64% · contract_read 36% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 2.8% of the pool's collateral","absent_because":null}},{"venue_id":"euler_v2_bsc","family_id":"euler_v2","class_id":"algorithmic","price":{"value":0.19975152865925525,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 3 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 63% · contract_read 37% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"all of this venue's debt is in fully drawn pools — a rate existing borrowers pay, with nothing left to borrow","absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":12321028.37129085,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 63% · contract_read 37% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 0.1% of the pool's collateral","absent_because":null}},{"venue_id":"euler_v2_ethereum","family_id":"euler_v2","class_id":"algorithmic","price":{"value":10.247485350102107,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 15 pool(s), 30 day(s) observed; continuously compounded","observer":"contract_read 68% · aggregator_defillama 32% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"55% of this venue's debt is in fully drawn pools — a rate existing borrowers pay, with nothing left to borrow","absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":36560812.35023107,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"contract_read 68% · aggregator_defillama 32% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 1.1% of the pool's collateral","absent_because":null}},{"venue_id":"euler_v2_hyperliquid_l1","family_id":"euler_v2","class_id":"algorithmic","price":{"value":11.237008058183973,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 81% · contract_read 19% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":334172.0278491011,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 81% · contract_read 19% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 5.7% of the pool's collateral","absent_because":null}},{"venue_id":"euler_v2_monad","family_id":"euler_v2","class_id":"algorithmic","price":{"value":7.085976755886571,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 7 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 68% · contract_read 32% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":68049869.2289701,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 68% · contract_read 32% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 5.3% of the pool's collateral","absent_because":null}},{"venue_id":"euler_v2_unichain","family_id":"euler_v2","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this venue's debt is outside USD: ≈$715,289 in ETH lent from a pool (30-day mean) — shown separately, not in the BTC-USD figures"}},{"venue_id":"exactly_optimism","family_id":"exactly","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"extra_finance_xlend_base","family_id":"extra_finance_xlend","class_id":"algorithmic","price":{"value":3.454669885489425,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":382721.56666666665,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"no bitcoin in the pool's collateral","absent_because":null}},{"venue_id":"extra_finance_xlend_optimism","family_id":"extra_finance_xlend","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"felix_cdp_hyperliquid_l1","family_id":"felix_cdp","class_id":"minted","price":{"value":4.9711169305543725,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 4 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 77% · contract_read 23% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.2593892368061773,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":476346.28910846624,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"aggregator_defillama 77% · contract_read 23% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: 100% consortium (Unit, Hyperliquid, Infinite Field) (latest day)","absent_because":null}},{"venue_id":"fira_ethereum","family_id":"fira","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"fluid_lending_arbitrum","family_id":"fluid_lending","class_id":"algorithmic","price":{"value":6.360343094743443,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 13 pool(s), 30 day(s) observed; continuously compounded","observer":"contract_read >99% · aggregator_defillama <1% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.4938732642199981,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":"WBTC/GHO, WBTC/USDC, WBTC/USDT","absent_because":null},"composition":{"value":3260204.8563124603,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"contract_read >99% · aggregator_defillama <1% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: 100% custodial (BitGo) (latest day)","absent_because":null}},{"venue_id":"fluid_lending_base","family_id":"fluid_lending","class_id":"algorithmic","price":{"value":5.265451392018132,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 4 pool(s), 30 day(s) observed; continuously compounded","observer":"contract_read — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.46736199180031673,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":"cbBTC/GHO, cbBTC/USDC, LBTC/USDC","absent_because":null},"composition":{"value":1562260.7975664553,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"contract_read (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: >99% custodial (Coinbase) · <1% consortium (Anchorage Digital Bank, Kraken Institutional) (latest day)","absent_because":null}},{"venue_id":"fluid_lending_ethereum","family_id":"fluid_lending","class_id":"algorithmic","price":{"value":6.183950998426603,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 23 pool(s), 30 day(s) observed; continuously compounded","observer":"contract_read — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.44369641824254863,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":"cbBTC/GHO, cbBTC/USDC, cbBTC/USDT, cbBTC/USDtb, tBTC/USDC, tBTC/USDT, WBTC/GHO, WBTC/USDC, WBTC/USDT, WBTC/USDtb","absent_because":null},"composition":{"value":22344185.41882728,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"contract_read (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: >99% custodial (BitGo, Coinbase) · <1% threshold-signature (latest day)","absent_because":null}},{"venue_id":"fluid_lending_polygon","family_id":"fluid_lending","class_id":"algorithmic","price":{"value":3.7180950818659966,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"contract_read — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.44852745270420935,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":"WBTC/AUSD, WBTC/USDC, WBTC/USDT","absent_because":null},"composition":{"value":83672.79002764376,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"contract_read (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: 100% custodial (BitGo) (latest day)","absent_because":null}},{"venue_id":"folks_finance_lending_algorand","family_id":"folks_finance_lending","class_id":"algorithmic","price":{"value":11.023612070119027,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 77% · contract_read 23% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":3753889.0918923332,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 77% · contract_read 23% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 0.0% of the pool's collateral","absent_because":null}},{"venue_id":"folks_finance_xchain_avalanche","family_id":"folks_finance_xchain","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"folks_finance_xchain_base","family_id":"folks_finance_xchain","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"folks_finance_xchain_ethereum","family_id":"folks_finance_xchain","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"folks_finance_xchain_monad","family_id":"folks_finance_xchain","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"frankencoin_ethereum","family_id":"frankencoin","class_id":"minted","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"No read of this venue carries its collateral: the aggregator reports the loan book, not what backs it, and no contract-state or venue-API read is ingested here yet."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this venue's debt is outside USD: ≈$16m borrowed in CHF against bitcoin (30-day mean) — shown separately, not in the BTC-USD figures"}},{"venue_id":"fraxlend_ethereum","family_id":"fraxlend","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":0.43920274627005423,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":"frxUSD borrow","absent_because":null},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"gavel_arbitrum","family_id":"gavel","class_id":"auction","price":{"value":5.489079305555537,"unit":"pct","label":"30d cleared rate","kind":null,"basis":"one rate is both legs — the auction clears it","observer":"the Gavel curve (yield_curve_snapshots)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.449131,"unit":"ratio","label":"realised LTV","kind":"observed","basis":"debt_over_collateral over the markets read exactly on that date","observer":"state_read (exact debt attribution)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":16950,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"owed in markets whose collateral is bitcoin, read with its collateral","observer":"state_read (exact debt attribution)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null}},{"venue_id":"gearbox_ethereum","family_id":"gearbox","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this venue's debt is outside USD: ≈$2m in ETH lent from a pool (30-day mean) — shown separately, not in the BTC-USD figures"}},{"venue_id":"hyperlend_pooled_hyperliquid_l1","family_id":"hyperlend_pooled","class_id":"algorithmic","price":{"value":6.086074980279449,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 70% · contract_read 30% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.2507277839324441,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 91 accounts whose only collateral is bitcoin, read from the pool's contracts at block 48406356 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"509 more accounts post bitcoin among other collateral ($4m of $41m) — not in this figure","absent_because":null},"composition":{"value":1422360.276382249,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 91 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 48406356. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $11m owed in dollars by 509 accounts posting bitcoin among other collateral, not added; the pool lends $67m in all (30-day mean); largest borrower 62.1%, top 10 89.8%","absent_because":null}},{"venue_id":"hypurrfi_pooled_hyperliquid_l1","family_id":"hypurrfi_pooled","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"inverse_finance_firm_ethereum","family_id":"inverse_finance_firm","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":0.32018299074540557,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":"Fixed Borrow Rate","absent_because":null},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"jupiter_lend_solana","family_id":"jupiter_lend","class_id":"algorithmic","price":{"value":5.231463725395866,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 30 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 49% · contract_read 30% · venue_api_jupiter 21% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"No read of this venue carries its collateral: the aggregator reports the loan book, not what backs it, and no contract-state or venue-API read is ingested here yet."},"composition":{"value":9584817.739795668,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"aggregator_defillama 49% · contract_read 30% · venue_api_jupiter 21% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: 96% custodial (BitGo, Coinbase, OKX) · 4% consortium (Anchorage Digital Bank, Kraken Institutional) (latest day)","absent_because":null}},{"venue_id":"justlend_v1_tron","family_id":"justlend_v1","class_id":"algorithmic","price":{"value":3.7669337511086938,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 4 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":138341341.06499472,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"no bitcoin in the pool's collateral","absent_because":null}},{"venue_id":"kamino_lend_solana","family_id":"kamino_lend","class_id":"algorithmic","price":{"value":5.672267348172345,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 40 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 78% · contract_read 22% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":711062744.4071445,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 78% · contract_read 22% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 3.7% of the pool's collateral","absent_because":null}},{"venue_id":"kava_mint_kava","family_id":"kava_mint","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"No read of this venue carries its collateral: the aggregator reports the loan book, not what backs it, and no contract-state or venue-API read is ingested here yet."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"kinza_finance_bsc","family_id":"kinza_finance","class_id":"algorithmic","price":{"value":3.378726210016727,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":824607.3333333334,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"no bitcoin in the pool's collateral","absent_because":null}},{"venue_id":"layerbank_move","family_id":"layerbank","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"liquidium_icp","family_id":"liquidium","class_id":"algorithmic","price":{"value":3.883585120480323,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 96% · contract_read 4% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":1231044.8032326335,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 96% · contract_read 4% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 50.7% of the pool's collateral","absent_because":null}},{"venue_id":"liquity_forks_ethereum","family_id":"liquity_forks","class_id":"minted","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":0.24580096212101593,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":"collateral 26.7641 tBTC; one-off borrowing fee 0.868%, no annual rate","absent_because":null},"composition":{"value":537702.4956891361,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"contract_read (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: 100% threshold-signature (latest day)","absent_because":null}},{"venue_id":"lista_cdp_bsc","family_id":"lista_cdp","class_id":"algorithmic","price":{"value":4.1988979363008285,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 77% · contract_read 23% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.4057370182287182,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":"BTCB","absent_because":null},"composition":{"value":793909.4220393401,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"aggregator_defillama 77% · contract_read 23% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: 100% custodial (Binance) (latest day)","absent_because":null}},{"venue_id":"maple_ethereum","family_id":"maple","class_id":"posted-card","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this lender negotiates terms per borrower and publishes no card, so there is no posted price to read"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"the desk publishes no maximum LTV on a sourced card, and no realised LTV"},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this desk publishes no book, and no bound on one has been derived"}},{"venue_id":"moonwell_lending_base","family_id":"moonwell_lending","class_id":"algorithmic","price":{"value":16.197515082585255,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"contract_read 60% · aggregator_defillama 40% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"38% of this venue's debt is in fully drawn pools — a rate existing borrowers pay, with nothing left to borrow","absent_because":null},"quality":{"value":0.8948178864844856,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 184 accounts whose only collateral is bitcoin, read from the pool's contracts at block 52540416 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"$1m of it owed by 7 accounts already past the venue's liquidation point (48% of the debt) — unliquidated, and in this figure; 260 more accounts post bitcoin among other collateral ($6m of $9m) — not in this figure","absent_because":null},"composition":{"value":1036702.2888739998,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 184 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 52540416. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"and $1m borrowed in other currencies against the same bitcoin, not added; plus $2m owed in dollars by 260 accounts posting bitcoin among other collateral, not added; the pool lends $8m in all (30-day mean); largest borrower 47.1%, top 10 79.8%","absent_because":null}},{"venue_id":"moonwell_lending_moonbeam","family_id":"moonwell_lending","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"morpho_blue_arbitrum","family_id":"morpho_blue","class_id":"algorithmic","price":{"value":4.167217193467285,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 7 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 86% · contract_read 14% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.44553304317306397,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":2526885.7958569666,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"aggregator_defillama 86% · contract_read 14% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: 100% custodial (BitGo) (latest day)","absent_because":null}},{"venue_id":"morpho_blue_base","family_id":"morpho_blue","class_id":"algorithmic","price":{"value":4.77917958676589,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 24 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 66% · contract_read 34% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.479456,"unit":"ratio","label":"realised LTV","kind":"observed","basis":"debt_over_collateral over the markets read exactly on that date","observer":"state_read (exact debt attribution)","as_of":"2026-10-13","low":null,"high":null,"sub":"liquidation threshold 77%–94.5%","absent_because":null},"composition":{"value":1565815715,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"owed in markets whose collateral is bitcoin, read with its collateral","observer":"state_read (exact debt attribution)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: >99% custodial (Coinbase) · <1% non-custodial · <1% consortium (Anchorage Digital Bank, Kraken Institutional) (latest day)","absent_because":null}},{"venue_id":"morpho_blue_ethereum","family_id":"morpho_blue","class_id":"algorithmic","price":{"value":5.13991218254624,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 119 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 71% · contract_read 29% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.513424,"unit":"ratio","label":"realised LTV","kind":"observed","basis":"debt_over_collateral over the markets read exactly on that date","observer":"state_read (exact debt attribution)","as_of":"2026-10-13","low":null,"high":null,"sub":"liquidation threshold 77%–94.5%","absent_because":null},"composition":{"value":921931137,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"owed in markets whose collateral is bitcoin, read with its collateral","observer":"state_read (exact debt attribution)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: >99% custodial (BitGo, Coinbase, Kraken Financial) · <1% consortium (Anchorage Digital Bank, Kraken Institutional) · <1% threshold-signature (latest day)","absent_because":null}},{"venue_id":"morpho_blue_hyperliquid_l1","family_id":"morpho_blue","class_id":"algorithmic","price":{"value":6.821716734598198,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 11 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 86% · contract_read 14% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.4380512518152606,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":1663458.6457972,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"aggregator_defillama 86% · contract_read 14% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: 100% consortium (Unit, Hyperliquid, Infinite Field) (latest day)","absent_because":null}},{"venue_id":"morpho_blue_katana","family_id":"morpho_blue","class_id":"algorithmic","price":{"value":4.066787339694696,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 8 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 79% · contract_read 21% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.5740020852887896,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":7617848.6810645,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"aggregator_defillama 79% · contract_read 21% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: >99% custodial (BitGo) · <1% consortium (Anchorage Digital Bank, Kraken Institutional) (latest day)","absent_because":null}},{"venue_id":"morpho_blue_monad","family_id":"morpho_blue","class_id":"algorithmic","price":{"value":8.014626582079424,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 13 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 79% · contract_read 21% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.4783846323035356,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"morpho_blue_optimism","family_id":"morpho_blue","class_id":"algorithmic","price":{"value":4.8454122359755205,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 78% · contract_read 22% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.5005389742339035,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":532681.8595039666,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"aggregator_defillama 78% · contract_read 22% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: 100% custodial (BitGo) (latest day)","absent_because":null}},{"venue_id":"morpho_blue_polygon","family_id":"morpho_blue","class_id":"algorithmic","price":{"value":10.260809291229707,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 79% · contract_read 21% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.39583571199162265,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":742490.7842622667,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"aggregator_defillama 79% · contract_read 21% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: 100% custodial (BitGo) (latest day)","absent_because":null}},{"venue_id":"morpho_blue_tempo","family_id":"morpho_blue","class_id":"algorithmic","price":{"value":2.5963805610451574,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.512917595283861,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":2739918.8666666667,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"mean daily debt over 30 days in isolated markets whose collateral is bitcoin","observer":"aggregator_defillama (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"custody: 100% custodial (Coinbase) (latest day)","absent_because":null}},{"venue_id":"morpho_blue_unichain","family_id":"morpho_blue","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":0.44357959374945244,"unit":"ratio","label":"system LTV","kind":"observed","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution","observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"navi_lending_sui","family_id":"navi_lending","class_id":"algorithmic","price":{"value":6.995471796681981,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 3 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 76% · contract_read 24% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":32811876.326048035,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 76% · contract_read 24% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 22.7% of the pool's collateral","absent_because":null}},{"venue_id":"neverland_monad","family_id":"neverland","class_id":"algorithmic","price":{"value":6.854302976978248,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 4 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 61% · contract_read 39% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":5840363.270279217,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 61% · contract_read 39% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 4.1% of the pool's collateral","absent_because":null}},{"venue_id":"save_solana","family_id":"save","class_id":"algorithmic","price":{"value":5.004995207405373,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 3 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 90% · contract_read 10% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":20510650.416574936,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 90% · contract_read 10% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 2.2% of the pool's collateral","absent_because":null}},{"venue_id":"scallop_lend_sui","family_id":"scallop_lend","class_id":"algorithmic","price":{"value":7.569497782597737,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 1 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 96% · contract_read 4% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":858331.424622657,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 96% · contract_read 4% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 2.0% of the pool's collateral","absent_because":null}},{"venue_id":"silo_v2_avalanche","family_id":"silo_v2","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"silo_v2_sonic","family_id":"silo_v2","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}},{"venue_id":"sky_ethereum","family_id":"sky","class_id":"minted","price":{"value":8.282342400181678,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 8 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.203498,"unit":"ratio","label":"realised LTV","kind":"observed","basis":"debt_over_collateral; debt is DAI at par, collateral is locked ink at the day's reference price","observer":"chain_event_replay (Vat, gated exact)","as_of":"2026-10-12","low":null,"high":null,"sub":null,"absent_because":null},"composition":{"value":2199360,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"owed in markets whose collateral is bitcoin, read with its collateral","observer":"chain_event_replay (Vat, gated exact)","as_of":"2026-10-12","low":null,"high":null,"sub":"custody: 100% custodial (BitGo) (latest day)","absent_because":null}},{"venue_id":"spark_ethereum","family_id":"spark","class_id":"algorithmic","price":{"value":4.102359717793989,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 6 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 63% · contract_read 37% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.4677190060939462,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 170 accounts whose only collateral is bitcoin, read from the pool's contracts at block 26181488 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"$1 of it owed by 1 account already past the venue's liquidation point (0% of the debt) — unliquidated, and in this figure; 161 more accounts post bitcoin among other collateral ($166m of $434m) — not in this figure","absent_because":null},"composition":{"value":258077616.92225552,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 170 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 26181488. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $195m owed in dollars by 161 accounts posting bitcoin among other collateral, not added; the pool lends $1.49bn in all (30-day mean); largest borrower 21.7%, top 10 85.8%","absent_because":null}},{"venue_id":"takara_lend_sei","family_id":"takara_lend","class_id":"algorithmic","price":{"value":17.165768383069583,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 76% · contract_read 24% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":1823920.7629459035,"unit":"usd","label":"lent from a pool","kind":"pool","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin","observer":"aggregator_defillama 76% · contract_read 24% of the 30-day debt (098)","as_of":"2026-10-13","low":null,"high":null,"sub":"bitcoin is 76.6% of the pool's collateral","absent_because":null}},{"venue_id":"tectonic_cronos","family_id":"tectonic","class_id":"algorithmic","price":{"value":3.0702376618515546,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 2 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 67% · contract_read 33% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.41875430963563776,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 91 accounts whose only collateral is bitcoin, read from the pool's contracts at block 99608906 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"$11 of it owed by 2 accounts already past the venue's liquidation point (0% of the debt) — unliquidated, and in this figure; 247 more accounts post bitcoin among other collateral ($5m of $11m) — not in this figure","absent_because":null},"composition":{"value":1630285.2516490007,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 91 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 99608906. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $3m owed in dollars by 247 accounts posting bitcoin among other collateral, not added; the pool lends $6m in all (30-day mean); largest borrower 36.7%, top 10 93.7%","absent_because":null}},{"venue_id":"tender_finance_arbitrum","family_id":"tender_finance","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"this venue's debt is outside USD: ≈$395,579 in ETH lent from a pool (30-day mean) — shown separately, not in the BTC-USD figures"}},{"venue_id":"tydro_ink","family_id":"tydro","class_id":"algorithmic","price":{"value":5.921405437793012,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 4 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 62% · contract_read 38% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.5833687764126294,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 122 accounts whose only collateral is bitcoin, read from the pool's contracts at block 58371043 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"293 more accounts post bitcoin among other collateral ($875,996 of $1m) — not in this figure","absent_because":null},"composition":{"value":54456934.10884803,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 122 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 58371043. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"plus $472,500 owed in dollars by 293 accounts posting bitcoin among other collateral, not added; the pool lends $59m in all (30-day mean); largest borrower 83.1%, top 10 99.7%","absent_because":null}},{"venue_id":"venus_core_pool_bsc","family_id":"venus_core_pool","class_id":"algorithmic","price":{"value":4.756686513649951,"unit":"pct","label":"30d borrow, USD","kind":null,"basis":"debt-weighted over 6 pool(s), 30 day(s) observed; continuously compounded","observer":"aggregator_defillama 67% · contract_read 33% of the 30-day debt — the class curve's own population (098)","as_of":"2026-10-13","low":null,"high":null,"sub":null,"absent_because":null},"quality":{"value":0.40920642126026735,"unit":"ratio","label":"LTV of bitcoin-only borrowers","kind":"observed","basis":"debt over the bitcoin posted, summed over the 1,626 accounts whose only collateral is bitcoin, read from the pool's contracts at block 127348246 — an aggregate across them, not any borrower's","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"$76,070 of it owed by 54 accounts already past the venue's liquidation point (0% of the debt) — unliquidated, and in this figure; 1,934 more accounts post bitcoin among other collateral ($249m of $432m) — not in this figure","absent_because":null},"composition":{"value":84082921.04907791,"unit":"usd","label":"debt against bitcoin","kind":"exact","basis":"borrowed in dollars by the 1,626 accounts whose only collateral is bitcoin — secured by bitcoin exactly, read from the pool's contracts at block 127348246. What they borrowed in other currencies is shown, not added; the rest of the pool's debt is owed against other or mixed collateral and is not added.","observer":"contract_read — the pool's own contracts, account by account (credit-state/pool-borrowers.mjs, 155)","as_of":"2026-10-13","low":null,"high":null,"sub":"and $64m borrowed in other currencies against the same bitcoin, not added; plus $70m owed in dollars by 1,934 accounts posting bitcoin among other collateral, not added; the pool lends $187m in all (30-day mean); largest borrower 15.5%, top 10 49.6%","absent_because":null}},{"venue_id":"zentra_finance_citrea","family_id":"zentra_finance","class_id":"algorithmic","price":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days"},"quality":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"Per-borrower LTV on a pooled venue needs loan-level ingestion, which is parked. A pool lends against its whole basket, so there is no bitcoin-specific debt to divide."},"composition":{"value":null,"unit":null,"label":null,"kind":null,"basis":null,"observer":null,"as_of":null,"low":null,"high":null,"sub":null,"absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days"}}],"attribution":[{"provider":"IEX","text":"Data provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use.","url":"https://www.iex.io/legal/hist-data-terms","covers":"corporate preferred prices (IEX last regular-session trade) and the yields computed from them"}]},"tree":{"as_of":"2026-10-13","btc_price_ref":82847.43007701098,"question":"The same six figures at every level — market, class, family, venue — each in relation to the level above it.","levels":["market","class","family","venue"],"rules":{"adds_up":"Every level is computed here from its children, so a share of a parent always adds up. Collateral adds wherever read; debt adds where it is exact or partial (the bitcoin book); a pool's whole lending and corporate debt are named in `excluded`, never summed.","ltv":"A ratio of sums — summed debt over summed collateral of the children carrying both — never a mean of ratios; a desk's posted ceiling never enters it.","rates":"Weighted by each child's own dollar weight (debt for borrow, supply for lend); where no child carries a weight, the median, said so.","liquidation":"The priced books taken as one position, Σ debt / Σ (debt / price); else the range of thresholds.","market":"Two markets (operator, 2026-10-01). `market` includes corporate: the issuers' filed debt and reported holdings, marked analogue — financed by bitcoin, no lien. `market_secured` is secured credit alone (V24), with `outside_secured`; every node's secured-view shares are in `secured_view`. Venues in no class are outside both.","order":"Children are ordered by bitcoin debt, then collateral, then name — never by a rate.","converted":"metrics.debt_all is every loan currency's debt converted to USD at the day's rate (the table in `rates`) and summed, with each part named; absent where any part has no rate. Amounts only: rates are never summed across currencies. With corporate in view, issuers' debt filed outside the dollar is in its currency's book at the filed amount (analogue: no lien), and so in the total.","kinds":{"exact":"measured, for the bitcoin book itself","partial":"measured, for part of it — `limitation` says which part","whole_pool":"the venue's whole lending, not its bitcoin book","whole_book":"a desk's whole book against every collateral, not its bitcoin book","estimate":"an estimate within a stated range — a desk's bounded book, or the bitcoin its book implies at its card's LTV","ceiling":"a policy limit the venue sets, not an observation","analogue":"a ratio or rate that is not the metric itself (corporate: no lien)","derived":"computed from a parameter applied to a measured book","posted":"an administered price the venue publishes","parameter":"the venue's own threshold, where no book is read to turn it into a price"},"absent_kinds":{"not_applicable":"the metric does not exist for this kind of venue","not_published":"the venue does not disclose it","not_read":"it exists and is public, and this dataset does not read it yet — a gap in the dataset, not a property of the venue","below_floor":"not read because the venue is below the research floor (its book has not reached $5m on any day of the last 90); the figure exists"}},"rates":{"as_of":"2026-10-13","BTC":{"usd_per_unit":81734.48110599573,"unit":"USDBASKET_per_BTC","series_id":"price.btc_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"kind":"cross_checked","source":"onchain_reference_daily BTC_in_basket"},"ETH":{"usd_per_unit":2453.447628054114,"unit":"USDBASKET_per_ETH","series_id":"price.eth_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"kind":"cross_checked","source":"onchain_reference_daily ETH_in_basket"},"missing":{"EUR":"the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","CHF":"the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","JPY":"the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","GBP":"the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"market":{"id":"market","level":"market","name":"The market","includes_corporate":true,"children":["corporate","algorithmic","posted-card","minted","auction"],"venue_count":134,"venue_count_counted":"the venues of the four secured classes and corporate in the registry's bitcoin scope; venues in no rate class (futures and brokers) are outside it, named in `outside`","metrics":{"collateral":{"btc":1168599.6220727323,"usd":95757326678.92493,"kind":"partial","coverage":{"in":96,"of":134},"held_by_issuers_btc":947851,"estimated_btc":28122.237108598867,"price_derived_btc":37616.78629701443,"low":1144031.441428779,"high":1404014.0247010347,"limitation":"read for 96 of 134 venues; part of it is the supplied amount each pool reports, not what is pledged against a loan; 947,851 BTC of it is held by corporate issuers and reported by them — not pledged: there is no lien; about 28,122 BTC of it is estimated from desks' books and their cards' LTVs, within the range shown"},"debt":{"usd":33250221556.71382,"low":32453802056.71382,"high":37118604155.27383,"kind":"partial","coverage":{"in":63,"of":134},"excluded":[{"id":"aave_v3_monad","usd":248795518.64417854,"kind":"whole_pool"},{"id":"kamino_lend_solana","usd":711062744.4071445,"kind":"whole_pool"},{"id":"navi_lending_sui","usd":32811876.326048035,"kind":"whole_pool"},{"id":"takara_lend_sei","usd":1823920.7629459035,"kind":"whole_pool"},{"id":"aave_v2_ethereum","usd":9179388.662254317,"kind":"whole_pool"},{"id":"aave_v2_avalanche","usd":369297.65751975414,"kind":"whole_pool"},{"id":"aave_v2_polygon","usd":2338352.1974796904,"kind":"whole_pool"},{"id":"euler_v2_monad","usd":68049869.2289701,"kind":"whole_pool"},{"id":"euler_v2_ethereum","usd":36560812.35023107,"kind":"whole_pool"},{"id":"euler_v2_avalanche","usd":32284731.355817966,"kind":"whole_pool"},{"id":"euler_v2_base","usd":913250.8076880138,"kind":"whole_pool"},{"id":"euler_v2_hyperliquid_l1","usd":334172.0278491011,"kind":"whole_pool"},{"id":"euler_v2_arbitrum","usd":328086.8915562,"kind":"whole_pool"},{"id":"euler_v2_bsc","usd":12321028.37129085,"kind":"whole_pool"},{"id":"dolomite_arbitrum","usd":2931433.0052141105,"kind":"whole_pool"},{"id":"dolomite_berachain","usd":1993477.3087717406,"kind":"whole_pool"},{"id":"dolomite_ethereum","usd":316509447.6486975,"kind":"whole_pool"},{"id":"current_sui","usd":50304775.773877785,"kind":"whole_pool"},{"id":"save_solana","usd":20510650.416574936,"kind":"whole_pool"},{"id":"liquidium_icp","usd":1231044.8032326335,"kind":"whole_pool"},{"id":"neverland_monad","usd":5840363.270279217,"kind":"whole_pool"},{"id":"echelon_market_aptos","usd":10185830.63659471,"kind":"whole_pool"},{"id":"arcadia_v2_base","usd":1856883.8728783333,"kind":"whole_pool"},{"id":"scallop_lend_sui","usd":858331.424622657,"kind":"whole_pool"},{"id":"folks_finance_lending_algorand","usd":3753889.0918923332,"kind":"whole_pool"},{"id":"colend_protocol_core","usd":321812.4,"kind":"whole_pool"},{"id":"extra_finance_xlend_base","usd":382721.56666666665,"kind":"whole_pool"},{"id":"justlend_v1_tron","usd":138341341.06499472,"kind":"whole_pool"},{"id":"kinza_finance_bsc","usd":824607.3333333334,"kind":"whole_pool"},{"id":"cefi_nexo","usd":850000000,"kind":"whole_book"},{"id":"cefi_salt","usd":45000000,"kind":"whole_book"},{"id":"cefi_tether","usd":13453749726,"kind":"whole_book"}],"limitation":"debt against bitcoin read for 63 of 134 venues; 32 more lend from a pool or are financed without a lien — named, not added; part of it is partial (bitcoin-only borrowers in a pool, or a desk's bounded estimate); $26.33bn of it is corporate debt financed by bitcoin the issuers hold — no lien on it","filed_by_issuers_usd":26330129200},"ltv":{"value":0.35615048554442896,"debt_usd":31751195841.72659,"collateral_usd":89151067120.37796,"kind":"partial","coverage":{"in":57,"of":134},"limitation":"both sides read for 57 of 134 venues","markets":{"in":43,"of":44}},"borrow":{"value":6.361676831150892,"weight_usd":14826294043.65267,"low":0.19975152865925525,"high":22.109227211305505,"kind":"partial","coverage":{"in":80,"of":128},"limitation":"weighted by dollar debt for 80 of 128 venues; 5 posted rate(s) carry no weight and are not in it; the secured market's rate: corporate lending is not in it (no lien on the issuers' bitcoin), see corporate_lending","markets":{"in":27,"of":27,"weight_in_usd":2499777153.819868,"weight_of_usd":2499777153.819868}},"lend":{"value":3.5287673986077905,"weight_usd":15706337201.009554,"low":0,"high":14.694085270433408,"kind":"partial","coverage":{"in":68,"of":128},"limitation":"weighted by dollar supply for 68 of 128 venues; the secured market's rate: corporate lending is not in it (no lien on the issuers' bitcoin), see corporate_lending","markets":{"in":27,"of":27,"weight_in_usd":2786699451.9918523,"weight_of_usd":2786699451.9918523}},"liquidation":{"btc_price":46241.35790448911,"debt_usd":4631370136.240068,"headroom_pct":0.4418492177547889,"btc_price_ref":82847.43007701098,"kind":"partial","coverage":{"in":46,"of":134},"threshold_low":0.45,"threshold_high":0.97,"limitation":"the priced books of 46 of 134 venues taken as one position — an aggregate, not a forecast","markets":{"in":27,"of":27,"weight_in_usd":2499777153.819868,"weight_of_usd":2499777153.819868}},"btc_book":{"debt_btc":841.5637281619429,"collateral_btc":570.9851557746,"ltv":0.08620081601461047,"borrow_rate":0.13242957311912204,"denomination_asset":"mixed","kind":"partial","coverage":{"in":30,"of":134},"limitation":"bitcoin lent against bitcoin, read for 30 of 134 venues, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 3 carrying both sides; its rate covers the 2 with a rate read, 16.75 of the 841.56 owed"},"books":{"btc":{"debt":841.5637281619429,"collateral_btc":570.9851557746,"ltv":0.08620081601461047,"borrow_rate":0.13242957311912204,"asset":"mixed","kind":"partial","coverage":{"in":30,"of":134},"limitation":"bitcoin lent against bitcoin, read for 30 of 134 venues, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 3 carrying both sides; its rate covers the 2 with a rate read, 16.75 of the 841.56 owed","lend_rate":0.0898483196446295,"lend_weight_usd":2018390.8432764173,"lend_coverage":{"in":2,"of":30},"liquidation":{"btc_price":null,"threshold_low":0.915,"threshold_high":0.945,"debt":16.754247919999997,"lt_units":18.369889475249998,"kind":"parameter","coverage":{"in":2,"of":30},"limitation":"bitcoin lent against bitcoin has no bitcoin price at which it liquidates: the thresholds are ratios between wrappers"},"ltv_debt":49.219386359999994,"ltv_collateral_btc":570.9851557746,"venue_priced":{"debt_usd":297420.62560562324,"coverage":{"in":1,"of":134},"limitation":"BTC lent against bitcoin at 1 of 134 venues, observed only as the venues' own USD valuation ($297,421); never turned into BTC or added to the book read in it"}},"chf":{"debt":13163835.229080327,"collateral_btc":361.19997252999997,"ltv":null,"borrow_rate":null,"asset":"ZCHF","kind":"partial","coverage":{"in":1,"of":134},"limitation":"CHF lent against bitcoin, read in its own units for 1 of 134 venues; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read; its rate covers the 0 with a rate read, 0.00 of the 13163835.23 lent","lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":13163835.229080327,"ltv_collateral_btc":361.19997252999997,"venue_priced":null,"ltv_kind":null,"ltv_absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"},"eth":{"debt":110.4279125097407,"collateral_btc":5.91142573,"ltv":0.5607355709085469,"borrow_rate":1.7469894418848002,"asset":"WETH","kind":"partial","coverage":{"in":1,"of":134},"limitation":"ETH lent against bitcoin, read in its own units for 1 of 134 venues, in wrapper units — a wrapper is not ETH; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read","lend_rate":1.5754039777555358,"lend_weight_usd":300437.4013991646,"lend_coverage":{"in":1,"of":1},"liquidation":{"btc_price":20.415759021985455,"threshold_low":0.915,"threshold_high":0.915,"debt":110.4279125097407,"lt_units":5.408954542950001,"kind":"derived","coverage":{"in":1,"of":1},"limitation":"the books of 1 of 1 taken as one position, Σ debt / Σ (LLTV × bitcoin), in ETH per bitcoin — the venues' own thresholds, no conversion"},"ltv_debt":110.4279125097407,"ltv_collateral_btc":5.91142573,"venue_priced":{"debt_usd":429365.4570739966,"coverage":{"in":3,"of":134},"limitation":"ETH lent against bitcoin at 3 of 134 venues, observed only as the venues' own USD valuation ($429,365); never turned into ETH or added to the book read in it"},"ltv_kind":"converted","ltv_rates":{"ETH":{"series_id":"price.eth_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd_per_unit":2453.447628054114},"BTC":{"series_id":"price.btc_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd_per_unit":81734.48110599573}}},"eur":{"debt":883168003.7564338,"collateral_btc":663.86332873,"ltv":null,"borrow_rate":2.270235931089128,"asset":"mixed","kind":"partial","coverage":{"in":4,"of":134},"limitation":"EUR lent against bitcoin, read in its own units for 4 of 134 venues; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read; 2 of the 4 corporate issuers' filed debt (analogue: no lien on bitcoin)","lend_rate":2.0386281914365023,"lend_weight_usd":32041322.045508437,"lend_coverage":{"in":2,"of":2},"liquidation":{"btc_price":45073.333836584905,"threshold_low":0.86,"threshold_high":0.86,"debt":25733378.756433867,"lt_units":570.9224627078,"kind":"derived","coverage":{"in":2,"of":2},"limitation":"the books of 2 of 2 taken as one position, Σ debt / Σ (LLTV × bitcoin), in EUR per bitcoin — the venues' own thresholds, no conversion"},"ltv_debt":25733378.756433867,"ltv_collateral_btc":663.86332873,"venue_priced":{"debt_usd":1313405.2320715962,"coverage":{"in":2,"of":134},"limitation":"EUR lent against bitcoin at 2 of 134 venues, observed only as the venues' own USD valuation ($1.3m); never turned into EUR or added to the book read in it"},"ltv_kind":null,"ltv_absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"},"jpy":{"debt":31610000000,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"metaplanet_bond_20,metaplanet_class_b","kind":"analogue","coverage":{"in":1,"of":134},"limitation":"JPY lent against bitcoin, read in its own units for 1 of 134 venues; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read; all corporate issuers' filed debt (analogue: no lien on bitcoin)","lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":69297413.52585536,"coverage":{"in":24,"of":134},"limitation":"debt against bitcoin in loan currencies the reads do not split, at 24 of 134 venues, as the venues' own USD valuation ($69.3m)"}}},"corporate_lending":{"value":11.432656831562594,"weight_usd":22074545200,"low":11.3721357482297,"high":13.078470824949695,"kind":"partial","coverage":{"in":2,"of":6},"limitation":"corporate lending, not bitcoin-backed credit: what the issuers pay on their listed debt and preferreds, which is what holders earn. Unsecured, with no lien on the issuers' bitcoin, so it is in neither the market's borrow rate nor its lend rate"},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"share_of_parent":null,"share_of_market":null,"vs_parent":null},"market_secured":{"id":"market","level":"market","name":"The market","includes_corporate":false,"children":["algorithmic","posted-card","minted","auction"],"venue_count":128,"venue_count_counted":"the venues of the four secured classes (algorithmic, minted, posted-card, auction) in the registry's bitcoin scope; corporate and the venues in no rate class are outside it","metrics":{"collateral":{"btc":220748.62207273283,"usd":18285217028.12581,"kind":"partial","coverage":{"in":90,"of":128},"held_by_issuers_btc":null,"estimated_btc":28122.237108598867,"price_derived_btc":37616.78629701443,"low":196180.4414287792,"high":456163.0247010349,"limitation":"read for 90 of 128 venues; part of it is the supplied amount each pool reports, not what is pledged against a loan; about 28,122 BTC of it is estimated from desks' books and their cards' LTVs, within the range shown"},"debt":{"usd":6920092356.713821,"low":6123672856.713821,"high":10744511856.713821,"kind":"partial","coverage":{"in":58,"of":128},"excluded":[{"id":"aave_v3_monad","usd":248795518.64417854,"kind":"whole_pool"},{"id":"kamino_lend_solana","usd":711062744.4071445,"kind":"whole_pool"},{"id":"navi_lending_sui","usd":32811876.326048035,"kind":"whole_pool"},{"id":"takara_lend_sei","usd":1823920.7629459035,"kind":"whole_pool"},{"id":"aave_v2_ethereum","usd":9179388.662254317,"kind":"whole_pool"},{"id":"aave_v2_avalanche","usd":369297.65751975414,"kind":"whole_pool"},{"id":"aave_v2_polygon","usd":2338352.1974796904,"kind":"whole_pool"},{"id":"euler_v2_monad","usd":68049869.2289701,"kind":"whole_pool"},{"id":"euler_v2_ethereum","usd":36560812.35023107,"kind":"whole_pool"},{"id":"euler_v2_avalanche","usd":32284731.355817966,"kind":"whole_pool"},{"id":"euler_v2_base","usd":913250.8076880138,"kind":"whole_pool"},{"id":"euler_v2_hyperliquid_l1","usd":334172.0278491011,"kind":"whole_pool"},{"id":"euler_v2_arbitrum","usd":328086.8915562,"kind":"whole_pool"},{"id":"euler_v2_bsc","usd":12321028.37129085,"kind":"whole_pool"},{"id":"dolomite_arbitrum","usd":2931433.0052141105,"kind":"whole_pool"},{"id":"dolomite_berachain","usd":1993477.3087717406,"kind":"whole_pool"},{"id":"dolomite_ethereum","usd":316509447.6486975,"kind":"whole_pool"},{"id":"current_sui","usd":50304775.773877785,"kind":"whole_pool"},{"id":"save_solana","usd":20510650.416574936,"kind":"whole_pool"},{"id":"liquidium_icp","usd":1231044.8032326335,"kind":"whole_pool"},{"id":"neverland_monad","usd":5840363.270279217,"kind":"whole_pool"},{"id":"echelon_market_aptos","usd":10185830.63659471,"kind":"whole_pool"},{"id":"arcadia_v2_base","usd":1856883.8728783333,"kind":"whole_pool"},{"id":"scallop_lend_sui","usd":858331.424622657,"kind":"whole_pool"},{"id":"folks_finance_lending_algorand","usd":3753889.0918923332,"kind":"whole_pool"},{"id":"colend_protocol_core","usd":321812.4,"kind":"whole_pool"},{"id":"extra_finance_xlend_base","usd":382721.56666666665,"kind":"whole_pool"},{"id":"justlend_v1_tron","usd":138341341.06499472,"kind":"whole_pool"},{"id":"kinza_finance_bsc","usd":824607.3333333334,"kind":"whole_pool"},{"id":"cefi_nexo","usd":850000000,"kind":"whole_book"},{"id":"cefi_salt","usd":45000000,"kind":"whole_book"},{"id":"cefi_tether","usd":13453749726,"kind":"whole_book"}],"limitation":"debt against bitcoin read for 58 of 128 venues; 32 more lend from a pool or are financed without a lien — named, not added; part of it is partial (bitcoin-only borrowers in a pool, or a desk's bounded estimate)","filed_by_issuers_usd":null},"ltv":{"value":0.45299859992608177,"debt_usd":5421066641.726582,"collateral_usd":11967071515.477457,"kind":"partial","coverage":{"in":52,"of":128},"limitation":"both sides read for 52 of 128 venues","markets":{"in":43,"of":44}},"borrow":{"value":6.361676831150892,"weight_usd":14826294043.65267,"low":0.19975152865925525,"high":22.109227211305505,"kind":"partial","coverage":{"in":80,"of":128},"limitation":"weighted by dollar debt for 80 of 128 venues; 5 posted rate(s) carry no weight and are not in it","markets":{"in":27,"of":27,"weight_in_usd":2499777153.819868,"weight_of_usd":2499777153.819868}},"lend":{"value":3.5287673986077905,"weight_usd":15706337201.009554,"low":0,"high":14.694085270433408,"kind":"partial","coverage":{"in":68,"of":128},"limitation":"weighted by dollar supply for 68 of 128 venues","markets":{"in":27,"of":27,"weight_in_usd":2786699451.9918523,"weight_of_usd":2786699451.9918523}},"liquidation":{"btc_price":46241.35790448911,"debt_usd":4631370136.240068,"headroom_pct":0.4418492177547889,"btc_price_ref":82847.43007701098,"kind":"partial","coverage":{"in":46,"of":128},"threshold_low":0.45,"threshold_high":0.97,"limitation":"the priced books of 46 of 128 venues taken as one position — an aggregate, not a forecast","markets":{"in":27,"of":27,"weight_in_usd":2499777153.819868,"weight_of_usd":2499777153.819868}},"btc_book":{"debt_btc":841.5637281619429,"collateral_btc":570.9851557746,"ltv":0.08620081601461047,"borrow_rate":0.13242957311912204,"denomination_asset":"mixed","kind":"partial","coverage":{"in":30,"of":128},"limitation":"bitcoin lent against bitcoin, read for 30 of 128 venues, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 3 carrying both sides; its rate covers the 2 with a rate read, 16.75 of the 841.56 owed"},"books":{"btc":{"debt":841.5637281619429,"collateral_btc":570.9851557746,"ltv":0.08620081601461047,"borrow_rate":0.13242957311912204,"asset":"mixed","kind":"partial","coverage":{"in":30,"of":128},"limitation":"bitcoin lent against bitcoin, read for 30 of 128 venues, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 3 carrying both sides; its rate covers the 2 with a rate read, 16.75 of the 841.56 owed","lend_rate":0.0898483196446295,"lend_weight_usd":2018390.8432764173,"lend_coverage":{"in":2,"of":30},"liquidation":{"btc_price":null,"threshold_low":0.915,"threshold_high":0.945,"debt":16.754247919999997,"lt_units":18.369889475249998,"kind":"parameter","coverage":{"in":2,"of":30},"limitation":"bitcoin lent against bitcoin has no bitcoin price at which it liquidates: the thresholds are ratios between wrappers"},"ltv_debt":49.219386359999994,"ltv_collateral_btc":570.9851557746,"venue_priced":{"debt_usd":297420.62560562324,"coverage":{"in":1,"of":128},"limitation":"BTC lent against bitcoin at 1 of 128 venues, observed only as the venues' own USD valuation ($297,421); never turned into BTC or added to the book read in it"}},"chf":{"debt":13163835.229080327,"collateral_btc":361.19997252999997,"ltv":null,"borrow_rate":null,"asset":"ZCHF","kind":"partial","coverage":{"in":1,"of":128},"limitation":"CHF lent against bitcoin, read in its own units for 1 of 128 venues; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read; its rate covers the 0 with a rate read, 0.00 of the 13163835.23 lent","lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":13163835.229080327,"ltv_collateral_btc":361.19997252999997,"venue_priced":null,"ltv_kind":null,"ltv_absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"},"eth":{"debt":110.4279125097407,"collateral_btc":5.91142573,"ltv":0.5607355709085469,"borrow_rate":1.7469894418848002,"asset":"WETH","kind":"partial","coverage":{"in":1,"of":128},"limitation":"ETH lent against bitcoin, read in its own units for 1 of 128 venues, in wrapper units — a wrapper is not ETH; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read","lend_rate":1.5754039777555358,"lend_weight_usd":300437.4013991646,"lend_coverage":{"in":1,"of":1},"liquidation":{"btc_price":20.415759021985455,"threshold_low":0.915,"threshold_high":0.915,"debt":110.4279125097407,"lt_units":5.408954542950001,"kind":"derived","coverage":{"in":1,"of":1},"limitation":"the books of 1 of 1 taken as one position, Σ debt / Σ (LLTV × bitcoin), in ETH per bitcoin — the venues' own thresholds, no conversion"},"ltv_debt":110.4279125097407,"ltv_collateral_btc":5.91142573,"venue_priced":{"debt_usd":429365.4570739966,"coverage":{"in":3,"of":128},"limitation":"ETH lent against bitcoin at 3 of 128 venues, observed only as the venues' own USD valuation ($429,365); never turned into ETH or added to the book read in it"},"ltv_kind":"converted","ltv_rates":{"ETH":{"series_id":"price.eth_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd_per_unit":2453.447628054114},"BTC":{"series_id":"price.btc_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd_per_unit":81734.48110599573}}},"eur":{"debt":25733378.756433867,"collateral_btc":663.86332873,"ltv":null,"borrow_rate":2.270235931089128,"asset":"mixed","kind":"partial","coverage":{"in":2,"of":128},"limitation":"EUR lent against bitcoin, read in its own units for 2 of 128 venues; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read","lend_rate":2.0386281914365023,"lend_weight_usd":32041322.045508437,"lend_coverage":{"in":2,"of":2},"liquidation":{"btc_price":45073.333836584905,"threshold_low":0.86,"threshold_high":0.86,"debt":25733378.756433867,"lt_units":570.9224627078,"kind":"derived","coverage":{"in":2,"of":2},"limitation":"the books of 2 of 2 taken as one position, Σ debt / Σ (LLTV × bitcoin), in EUR per bitcoin — the venues' own thresholds, no conversion"},"ltv_debt":25733378.756433867,"ltv_collateral_btc":663.86332873,"venue_priced":{"debt_usd":1313405.2320715962,"coverage":{"in":2,"of":128},"limitation":"EUR lent against bitcoin at 2 of 128 venues, observed only as the venues' own USD valuation ($1.3m); never turned into EUR or added to the book read in it"},"ltv_kind":null,"ltv_absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":69297413.52585536,"coverage":{"in":24,"of":128},"limitation":"debt against bitcoin in loan currencies the reads do not split, at 24 of 128 venues, as the venues' own USD valuation ($69.3m)"}}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"share_of_parent":null,"share_of_market":null,"vs_parent":null},"outside":[{"id":"unclassed","name":"Futures and brokers (no rate class)","why":"these venues belong to no rate class (futures and brokers)"}],"outside_secured":[{"id":"unclassed","name":"Futures and brokers (no rate class)","why":"these venues belong to no rate class (futures and brokers)"},{"id":"corporate","name":"Corporate","why":"financed by bitcoin the issuers hold, with no lien on it — in the market by default, excluded in the secured view"}],"classes":{"algorithmic":{"id":"algorithmic","level":"class","name":"Algorithmic","children":["morpho_blue","aave_v3","spark","compound_v3","venus_core_pool","tydro","fluid_lending","aave_v4","jupiter_lend","curve_llamalend","compound_v2","tectonic","hyperlend_pooled","moonwell_lending","lista_cdp","benqi_lending","etherfi_borrowing","kamino_lend","navi_lending","curvance","takara_lend","aave_v2","euler_v2","dolomite","kava_mint","current","save","liquidium","inverse_finance_firm","neverland","echelon_market","gearbox","fraxlend","arcadia_v2","aave_v1","scallop_lend","hypurrfi_pooled","folks_finance_lending","asymmetry_usdaf","avalon_finance","colend_protocol","exactly","extra_finance_xlend","fira","folks_finance_xchain","justlend_v1","kinza_finance","layerbank","silo_v2","tender_finance","zentra_finance"],"venue_count":98,"venue_count_counted":"the venues of this class in the registry's bitcoin scope, every deployment of every family, whether or not a figure is read for it","metrics":{"collateral":{"btc":160542.67306517743,"usd":13298049711.012543,"kind":"partial","coverage":{"in":79,"of":98},"held_by_issuers_btc":null,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":"read for 79 of 98 venues; part of it is the supplied amount each pool reports, not what is pledged against a loan"},"debt":{"usd":4463084438.121728,"low":null,"high":null,"kind":"partial","coverage":{"in":46,"of":98},"excluded":[{"id":"aave_v3_monad","usd":248795518.64417854,"kind":"whole_pool"},{"id":"kamino_lend_solana","usd":711062744.4071445,"kind":"whole_pool"},{"id":"navi_lending_sui","usd":32811876.326048035,"kind":"whole_pool"},{"id":"takara_lend_sei","usd":1823920.7629459035,"kind":"whole_pool"},{"id":"aave_v2_ethereum","usd":9179388.662254317,"kind":"whole_pool"},{"id":"aave_v2_avalanche","usd":369297.65751975414,"kind":"whole_pool"},{"id":"aave_v2_polygon","usd":2338352.1974796904,"kind":"whole_pool"},{"id":"euler_v2_monad","usd":68049869.2289701,"kind":"whole_pool"},{"id":"euler_v2_ethereum","usd":36560812.35023107,"kind":"whole_pool"},{"id":"euler_v2_avalanche","usd":32284731.355817966,"kind":"whole_pool"},{"id":"euler_v2_base","usd":913250.8076880138,"kind":"whole_pool"},{"id":"euler_v2_hyperliquid_l1","usd":334172.0278491011,"kind":"whole_pool"},{"id":"euler_v2_arbitrum","usd":328086.8915562,"kind":"whole_pool"},{"id":"euler_v2_bsc","usd":12321028.37129085,"kind":"whole_pool"},{"id":"dolomite_arbitrum","usd":2931433.0052141105,"kind":"whole_pool"},{"id":"dolomite_berachain","usd":1993477.3087717406,"kind":"whole_pool"},{"id":"dolomite_ethereum","usd":316509447.6486975,"kind":"whole_pool"},{"id":"current_sui","usd":50304775.773877785,"kind":"whole_pool"},{"id":"save_solana","usd":20510650.416574936,"kind":"whole_pool"},{"id":"liquidium_icp","usd":1231044.8032326335,"kind":"whole_pool"},{"id":"neverland_monad","usd":5840363.270279217,"kind":"whole_pool"},{"id":"echelon_market_aptos","usd":10185830.63659471,"kind":"whole_pool"},{"id":"arcadia_v2_base","usd":1856883.8728783333,"kind":"whole_pool"},{"id":"scallop_lend_sui","usd":858331.424622657,"kind":"whole_pool"},{"id":"folks_finance_lending_algorand","usd":3753889.0918923332,"kind":"whole_pool"},{"id":"colend_protocol_core","usd":321812.4,"kind":"whole_pool"},{"id":"extra_finance_xlend_base","usd":382721.56666666665,"kind":"whole_pool"},{"id":"justlend_v1_tron","usd":138341341.06499472,"kind":"whole_pool"},{"id":"kinza_finance_bsc","usd":824607.3333333334,"kind":"whole_pool"}],"limitation":"debt against bitcoin read for 46 of 98 venues; 29 more lend from a pool or are financed without a lien — named, not added; part of it is partial (bitcoin-only borrowers in a pool, or a desk's bounded estimate)","filed_by_issuers_usd":null},"ltv":{"value":0.4549353060683062,"debt_usd":4598414723.134488,"collateral_usd":10107843163.186064,"kind":"partial","coverage":{"in":46,"of":98},"limitation":"both sides read for 46 of 98 venues","markets":{"in":20,"of":21}},"borrow":{"value":4.895590183678203,"weight_usd":12089628187.725065,"low":0.19975152865925525,"high":22.109227211305505,"kind":"partial","coverage":{"in":71,"of":98},"limitation":"weighted by dollar debt for 71 of 98 venues","markets":{"in":27,"of":27,"weight_in_usd":2499777153.819868,"weight_of_usd":2499777153.819868}},"lend":{"value":3.372510243098208,"weight_usd":14820884353.821592,"low":0,"high":14.694085270433408,"kind":"partial","coverage":{"in":65,"of":98},"limitation":"weighted by dollar supply for 65 of 98 venues","markets":{"in":27,"of":27,"weight_in_usd":2786699451.9918523,"weight_of_usd":2786699451.9918523}},"liquidation":{"btc_price":46282.79907746545,"debt_usd":4597358986.559877,"headroom_pct":0.4413490070308374,"btc_price_ref":82847.43007701098,"kind":"partial","coverage":{"in":45,"of":98},"threshold_low":0.45,"threshold_high":0.97,"limitation":"the priced books of 45 of 98 venues taken as one position — an aggregate, not a forecast","markets":{"in":27,"of":27,"weight_in_usd":2499777153.819868,"weight_of_usd":2499777153.819868}},"btc_book":{"debt_btc":841.5637281619429,"collateral_btc":570.9851557746,"ltv":0.08620081601461047,"borrow_rate":0.13242957311912204,"denomination_asset":"mixed","kind":"partial","coverage":{"in":30,"of":98},"limitation":"bitcoin lent against bitcoin, read for 30 of 98 venues, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 3 carrying both sides; its rate covers the 2 with a rate read, 16.75 of the 841.56 owed"},"books":{"btc":{"debt":841.5637281619429,"collateral_btc":570.9851557746,"ltv":0.08620081601461047,"borrow_rate":0.13242957311912204,"asset":"mixed","kind":"partial","coverage":{"in":30,"of":98},"limitation":"bitcoin lent against bitcoin, read for 30 of 98 venues, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 3 carrying both sides; its rate covers the 2 with a rate read, 16.75 of the 841.56 owed","lend_rate":0.0898483196446295,"lend_weight_usd":2018390.8432764173,"lend_coverage":{"in":2,"of":30},"liquidation":{"btc_price":null,"threshold_low":0.915,"threshold_high":0.945,"debt":16.754247919999997,"lt_units":18.369889475249998,"kind":"parameter","coverage":{"in":2,"of":30},"limitation":"bitcoin lent against bitcoin has no bitcoin price at which it liquidates: the thresholds are ratios between wrappers"},"ltv_debt":49.219386359999994,"ltv_collateral_btc":570.9851557746,"venue_priced":{"debt_usd":297420.62560562324,"coverage":{"in":1,"of":98},"limitation":"BTC lent against bitcoin at 1 of 98 venues, observed only as the venues' own USD valuation ($297,421); never turned into BTC or added to the book read in it"}},"eth":{"debt":110.4279125097407,"collateral_btc":5.91142573,"ltv":0.5607355709085469,"borrow_rate":1.7469894418848002,"asset":"WETH","kind":"partial","coverage":{"in":1,"of":98},"limitation":"ETH lent against bitcoin, read in its own units for 1 of 98 venues, in wrapper units — a wrapper is not ETH; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read","lend_rate":1.5754039777555358,"lend_weight_usd":300437.4013991646,"lend_coverage":{"in":1,"of":1},"liquidation":{"btc_price":20.415759021985455,"threshold_low":0.915,"threshold_high":0.915,"debt":110.4279125097407,"lt_units":5.408954542950001,"kind":"derived","coverage":{"in":1,"of":1},"limitation":"the books of 1 of 1 taken as one position, Σ debt / Σ (LLTV × bitcoin), in ETH per bitcoin — the venues' own thresholds, no conversion"},"ltv_debt":110.4279125097407,"ltv_collateral_btc":5.91142573,"venue_priced":{"debt_usd":429365.4570739966,"coverage":{"in":3,"of":98},"limitation":"ETH lent against bitcoin at 3 of 98 venues, observed only as the venues' own USD valuation ($429,365); never turned into ETH or added to the book read in it"},"ltv_kind":"converted","ltv_rates":{"ETH":{"series_id":"price.eth_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd_per_unit":2453.447628054114},"BTC":{"series_id":"price.btc_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd_per_unit":81734.48110599573}}},"eur":{"debt":25733378.756433867,"collateral_btc":663.86332873,"ltv":null,"borrow_rate":2.270235931089128,"asset":"mixed","kind":"partial","coverage":{"in":2,"of":98},"limitation":"EUR lent against bitcoin, read in its own units for 2 of 98 venues; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read","lend_rate":2.0386281914365023,"lend_weight_usd":32041322.045508437,"lend_coverage":{"in":2,"of":2},"liquidation":{"btc_price":45073.333836584905,"threshold_low":0.86,"threshold_high":0.86,"debt":25733378.756433867,"lt_units":570.9224627078,"kind":"derived","coverage":{"in":2,"of":2},"limitation":"the books of 2 of 2 taken as one position, Σ debt / Σ (LLTV × bitcoin), in EUR per bitcoin — the venues' own thresholds, no conversion"},"ltv_debt":25733378.756433867,"ltv_collateral_btc":663.86332873,"venue_priced":{"debt_usd":1313405.2320715962,"coverage":{"in":2,"of":98},"limitation":"EUR lent against bitcoin at 2 of 98 venues, observed only as the venues' own USD valuation ($1.3m); never turned into EUR or added to the book read in it"},"ltv_kind":null,"ltv_absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":69297413.52585536,"coverage":{"in":24,"of":98},"limitation":"debt against bitcoin in loan currencies the reads do not split, at 24 of 98 venues, as the venues' own USD valuation ($69.3m)"}}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"secured":true,"no_lien":false,"share_of_parent":{"collateral":0.13738039105337435,"debt":0.13422720899796683},"share_of_market":{"collateral":0.13738039105337435,"debt":0.13422720899796683},"vs_parent":{"ltv":0.09878482052387721,"borrow":-1.4660866474726895,"lend":-0.15625715550958263,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}},"secured_view":{"share_of_parent":{"collateral":0.7272646667406214,"debt":0.6449457909028739},"share_of_market":{"collateral":0.7272646667406214,"debt":0.6449457909028739},"vs_parent":{"ltv":0.0019367061422244092,"borrow":-1.4660866474726895,"lend":-0.15625715550958263,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}}}},"posted-card":{"id":"posted-card","level":"class","name":"Posted card","children":["ledn","galaxy","cantor","strike","xapo","blockfi","celsius","arch","schwab","coinbase_morpho","cred","fidelity","figure","hodlnaut","ibkr","maple","milo","nexo","salt","tether","two_prime","unchained","vauld","voyager"],"venue_count":24,"venue_count_counted":"the venues of this class in the registry's bitcoin scope, every deployment of every family, whether or not a figure is read for it","metrics":{"collateral":{"btc":58794.93581901442,"usd":4871009334.148147,"kind":"partial","coverage":{"in":5,"of":24},"held_by_issuers_btc":null,"estimated_btc":28122.237108598867,"price_derived_btc":37616.78629701443,"low":34226.755175060796,"high":294209.33844731655,"limitation":"read for 5 of 24 venues; part of it is the supplied amount each pool reports, not what is pledged against a loan; about 28,122 BTC of it is estimated from desks' books and their cards' LTVs, within the range shown"},"debt":{"usd":2419791897,"low":1623372397,"high":6244211397,"kind":"partial","coverage":{"in":7,"of":24},"excluded":[{"id":"cefi_nexo","usd":850000000,"kind":"whole_book"},{"id":"cefi_salt","usd":45000000,"kind":"whole_book"},{"id":"cefi_tether","usd":13453749726,"kind":"whole_book"}],"limitation":"debt against bitcoin read for 7 of 24 venues; 3 more lend from a pool or are financed without a lien — named, not added; part of it is partial (bitcoin-only borrowers in a pool, or a desk's bounded estimate)","filed_by_issuers_usd":null},"ltv":{"value":0.44310000000000005,"debt_usd":785435897,"collateral_usd":1772592861.6565108,"kind":"partial","coverage":{"in":1,"of":24},"limitation":"both sides read for 1 of 24 venues"},"borrow":{"value":14.390653808795962,"weight_usd":2104435897,"low":5.63,"high":17.9,"kind":"partial","coverage":{"in":5,"of":24},"limitation":"weighted by dollar debt for 5 of 24 venues; 5 posted rate(s) carry no weight and are not in it"},"lend":{"value":6.144243020790922,"weight_usd":885435897,"low":3.35,"high":6.5,"kind":"partial","coverage":{"in":2,"of":24},"limitation":"weighted by dollar supply for 2 of 24 venues"},"liquidation":{"btc_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold is read for any venue here","coverage":{"in":0,"of":24}},"btc_book":{"debt_btc":null,"absent_kind":"not_read","coverage":{"in":0,"of":24},"absent_because":"no venue here has bitcoin lent against bitcoin read"},"books":{},"debt_all":{"usd":2419791897,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":2419791897,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2419791897,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.44310000000000005,"kind":"converted","debt_usd":785435897,"collateral_usd":1772592861.6565108,"parts":[{"currency":"usd","debt_usd":785435897,"collateral_usd":1772592861.6565108}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"secured":true,"no_lien":false,"share_of_parent":{"collateral":0.050312300901424634,"debt":0.072775211222958},"share_of_market":{"collateral":0.050312300901424634,"debt":0.072775211222958},"vs_parent":{"ltv":0.08694951445557109,"borrow":8.028976977645069,"lend":2.6154756221831317,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}},"secured_view":{"share_of_parent":{"collateral":0.266343387636832,"debt":0.34967624307099543},"share_of_market":{"collateral":0.266343387636832,"debt":0.34967624307099543},"vs_parent":{"ltv":-0.00989859992608172,"borrow":8.028976977645069,"lend":2.6154756221831317,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}}}},"unclassed":{"id":"unclassed","level":"class","name":"Futures and brokers (no rate class)","children":["genesis@unclassed"],"venue_count":1,"venue_count_counted":"the venues of this class in the registry's bitcoin scope, every deployment of every family, whether or not a figure is read for it","metrics":{"collateral":{"btc":null,"usd":null,"absent_kind":"not_read","absent_because":"no venue here has a collateral read","coverage":{"in":0,"of":1}},"debt":{"usd":null,"absent_kind":"not_read","excluded":[],"coverage":{"in":0,"of":1},"absent_because":"no venue here has debt against bitcoin read"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its bitcoin collateral","coverage":{"in":0,"of":1}},"borrow":{"value":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","coverage":{"in":0,"of":1}},"lend":{"value":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","coverage":{"in":0,"of":1}},"liquidation":{"btc_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold is read for any venue here","coverage":{"in":0,"of":1}},"btc_book":{"debt_btc":null,"absent_kind":"not_read","coverage":{"in":0,"of":1},"absent_because":"no venue here has bitcoin lent against bitcoin read"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"secured":false,"no_lien":false,"share_of_parent":null,"share_of_market":null,"vs_parent":null,"secured_view":{"share_of_parent":null,"share_of_market":null,"vs_parent":null}},"corporate":{"id":"corporate","level":"class","name":"Corporate","children":["strategy","metaplanet","mara","strive","riot","blockchain_group"],"venue_count":6,"venue_count_counted":"the venues of this class in the registry's bitcoin scope, every deployment of every family, whether or not a figure is read for it","metrics":{"collateral":{"btc":947851,"usd":77472109650.79916,"kind":"partial","coverage":{"in":6,"of":6},"held_by_issuers_btc":947851,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":"947,851 BTC of it is held by corporate issuers and reported by them — not pledged: there is no lien"},"debt":{"usd":26330129200,"low":26330129200,"high":26374092298.56,"kind":"partial","coverage":{"in":5,"of":6},"excluded":[],"limitation":"debt against bitcoin read for 5 of 6 venues; $26.33bn of it is corporate debt financed by bitcoin the issuers hold — no lien on it","filed_by_issuers_usd":26330129200},"ltv":{"value":0.341134570627596,"debt_usd":26330129200,"collateral_usd":77183995604.90053,"kind":"partial","coverage":{"in":5,"of":6},"limitation":"both sides read for 5 of 6 venues"},"borrow":{"value":11.432656831562594,"weight_usd":22074545200,"low":11.3721357482297,"high":13.078470824949695,"kind":"partial","coverage":{"in":2,"of":6},"limitation":"weighted by dollar debt for 2 of 6 venues"},"lend":{"value":null,"absent_kind":"not_applicable","absent_because":"corporate lending, not bitcoin-backed credit: the holders of the issuer's listed debt and preferreds lend to it unsecured, with no lien on its bitcoin. What they earn is the issuer's cost, served as the borrow rate, so it is not a lend rate here","coverage":{"in":0,"of":6}},"liquidation":{"btc_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold is read for any venue here","coverage":{"in":0,"of":6}},"btc_book":{"debt_btc":null,"absent_kind":"not_read","coverage":{"in":0,"of":6},"absent_because":"no venue here has bitcoin lent against bitcoin read"},"books":{"eur":{"debt":857434625,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"analogue","coverage":{"in":2,"of":6},"limitation":"EUR lent against bitcoin, read in its own units for 2 of 6 venues; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read; all corporate issuers' filed debt (analogue: no lien on bitcoin)","lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"jpy":{"debt":31610000000,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"metaplanet_bond_20,metaplanet_class_b","kind":"analogue","coverage":{"in":1,"of":6},"limitation":"JPY lent against bitcoin, read in its own units for 1 of 6 venues; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read; all corporate issuers' filed debt (analogue: no lien on bitcoin)","lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":0.341134570627596,"kind":"converted","debt_usd":26330129200,"collateral_usd":77183995604.90053,"parts":[{"currency":"usd","debt_usd":26330129200,"collateral_usd":77183995604.90053}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"secured":false,"no_lien":true,"share_of_parent":{"collateral":0.8110998686776975,"debt":0.7918783083923081},"share_of_market":{"collateral":0.8110998686776975,"debt":0.7918783083923081},"vs_parent":{"ltv":-0.015015914916832962,"borrow":5.070980000411702,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}},"secured_view":{"share_of_parent":null,"share_of_market":null,"vs_parent":null}},"minted":{"id":"minted","level":"class","name":"Minted","children":["crvusd","sky","liquity_forks","felix_cdp","frankencoin"],"venue_count":5,"venue_count_counted":"the venues of this class in the registry's bitcoin scope, every deployment of every family, whether or not a figure is read for it","metrics":{"collateral":{"btc":1410.5576532509479,"usd":116120243.0370376,"kind":"partial","coverage":{"in":5,"of":5},"held_by_issuers_btc":null,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":"part of it is the supplied amount each pool reports, not what is pledged against a loan"},"debt":{"usd":37199071.40413205,"low":null,"high":null,"kind":"partial","coverage":{"in":4,"of":5},"excluded":[],"limitation":"debt against bitcoin read for 4 of 5 venues","filed_by_issuers_usd":null},"ltv":{"value":0.4295616352678758,"debt_usd":37199071.40413205,"collateral_usd":86597750.70679814,"kind":"partial","coverage":{"in":4,"of":5},"limitation":"both sides read for 4 of 5 venues","markets":{"in":3,"of":3}},"borrow":{"value":7.67134599365839,"weight_usd":632213008.739643,"low":3.510134387404177,"high":8.282342400181678,"kind":"partial","coverage":{"in":3,"of":5},"limitation":"weighted by dollar debt for 3 of 5 venues"},"lend":{"value":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","coverage":{"in":0,"of":5}},"liquidation":{"btc_price":41248.9257632463,"debt_usd":34011149.68019114,"headroom_pct":0.502109773050253,"btc_price_ref":82847.43007701098,"kind":"partial","coverage":{"in":1,"of":5},"threshold_low":0.94,"threshold_high":0.965,"limitation":"the priced books of 1 of 5 venues taken as one position — an aggregate, not a forecast"},"btc_book":{"debt_btc":null,"absent_kind":"not_read","coverage":{"in":0,"of":5},"absent_because":"no venue here has bitcoin lent against bitcoin read"},"books":{"chf":{"debt":13163835.229080327,"collateral_btc":361.19997252999997,"ltv":null,"borrow_rate":null,"asset":"ZCHF","kind":"partial","coverage":{"in":1,"of":5},"limitation":"CHF lent against bitcoin, read in its own units for 1 of 5 venues; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read; its rate covers the 0 with a rate read, 0.00 of the 13163835.23 lent","lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":13163835.229080327,"ltv_collateral_btc":361.19997252999997,"venue_priced":null,"ltv_kind":null,"ltv_absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"secured":true,"no_lien":false,"share_of_parent":{"collateral":0.001207049554533534,"debt":0.0011187616100747722},"share_of_market":{"collateral":0.001207049554533534,"debt":0.0011187616100747722},"vs_parent":{"ltv":0.07341114972344681,"borrow":1.3096691625074977,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}},"secured_view":{"share_of_parent":{"collateral":0.00638988202964272,"debt":0.0053755166096940595},"share_of_market":{"collateral":0.00638988202964272,"debt":0.0053755166096940595},"vs_parent":{"ltv":-0.023436964658205994,"borrow":1.3096691625074977,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}}}},"auction":{"id":"auction","level":"class","name":"Auction","children":["gavel"],"venue_count":1,"venue_count_counted":"the venues of this class in the registry's bitcoin scope, every deployment of every family, whether or not a figure is read for it","metrics":{"collateral":{"btc":0.45553529,"usd":37739.92808588592,"kind":"exact","coverage":{"in":1,"of":1},"held_by_issuers_btc":null,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":null},"debt":{"usd":16950.187962,"low":null,"high":null,"kind":"exact","coverage":{"in":1,"of":1},"excluded":[],"limitation":null,"filed_by_issuers_usd":null},"ltv":{"value":0.4491314324559902,"debt_usd":16950.187962,"collateral_usd":37739.92808588592,"kind":"exact","coverage":{"in":1,"of":1},"limitation":null,"markets":{"in":20,"of":20}},"borrow":{"value":5.489079305555537,"weight_usd":16950.187962,"low":5.489079305555537,"high":5.489079305555537,"kind":"exact","coverage":{"in":1,"of":1},"limitation":null},"lend":{"value":5.489079305555537,"weight_usd":16950.187962,"low":5.489079305555537,"high":5.489079305555537,"kind":"exact","coverage":{"in":1,"of":1},"limitation":null},"liquidation":{"btc_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold is read for any venue here","coverage":{"in":0,"of":1}},"btc_book":{"debt_btc":null,"absent_kind":"not_read","coverage":{"in":0,"of":1},"absent_because":"no venue here has bitcoin lent against bitcoin read"},"books":{},"debt_all":{"usd":16950.187962,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":16950.187962,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":16950.187962,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.4491314324559902,"kind":"converted","debt_usd":16950.187962,"collateral_usd":37739.92808588592,"parts":[{"currency":"usd","debt_usd":16950.187962,"collateral_usd":37739.92808588592}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"secured":true,"no_lien":false,"share_of_parent":{"collateral":3.898129704954226e-7,"debt":5.097766922571814e-7},"share_of_market":{"collateral":3.898129704954226e-7,"debt":5.097766922571814e-7},"vs_parent":{"ltv":0.09298094691156122,"borrow":-0.8725975255953555,"lend":1.9603119069477462,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}},"secured_view":{"share_of_parent":{"collateral":0.000002063592903650873,"debt":0.000002449416436697562},"share_of_market":{"collateral":0.000002063592903650873,"debt":0.000002449416436697562},"vs_parent":{"ltv":-0.0038671674700915815,"borrow":-0.8725975255953555,"lend":1.9603119069477462,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}}}}},"families":{"aave_v1":{"id":"aave_v1","level":"family","name":"Aave v1","class_id":"algorithmic","children":["aave_v1_ethereum"],"single_deployment":true,"metrics":{"collateral":{"btc":2.4420509,"usd":202317.64118225174,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its debt is not read yet","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its debt is not read yet","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its borrow rate is not read yet","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its lend rate is not read yet","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.65,"threshold_high":0.65,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-10/historical_cells.json, as read on 2026-10-01","basis":"reserve liquidation threshold"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.000015211226108142421,"debt":null},"share_of_market":{"collateral":0.000002089724191137903,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000011062587286254438,"debt":null}}},"aave_v2":{"id":"aave_v2","level":"family","name":"Aave v2","class_id":"algorithmic","children":["aave_v2_ethereum","aave_v2_avalanche","aave_v2_polygon"],"single_deployment":false,"metrics":{"collateral":{"btc":421.49804157999995,"usd":34920029.52739611,"kind":"exact","coverage":{"in":3,"of":3},"held_by_issuers_btc":null,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":null},"debt":{"usd":11887038.51725376,"kind":"whole_pool","coverage":{"in":3,"of":3},"excluded":[{"id":"aave_v2_ethereum","usd":9179388.662254317,"kind":"whole_pool"},{"id":"aave_v2_avalanche","usd":369297.65751975414,"kind":"whole_pool"},{"id":"aave_v2_polygon","usd":2338352.1974796904,"kind":"whole_pool"}],"limitation":"the pools' whole lending against every collateral they take — not debt against bitcoin, never added to a bitcoin total"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its bitcoin collateral","coverage":{"in":0,"of":3}},"borrow":{"value":12.325361176254818,"weight_usd":11887038.51725376,"low":10.689153955335906,"high":22.109227211305505,"kind":"exact","coverage":{"in":3,"of":3},"limitation":null},"lend":{"value":0.3533443950203409,"weight_usd":46693547.31317402,"low":0.0007041978807753393,"high":1.272444589135615,"kind":"exact","coverage":{"in":3,"of":3},"limitation":null},"liquidation":{"btc_price":null,"kind":"parameter","coverage":{"in":3,"of":3},"threshold_low":0.7,"threshold_high":0.82,"limitation":"the range of the liquidation thresholds set by 3 of 3 deployments; no bitcoin book here is read to turn them into a price"},"btc_book":{"debt_btc":null,"absent_kind":"not_read","coverage":{"in":0,"of":3},"absent_because":"no deployment here has bitcoin lent against bitcoin read"},"books":{},"debt_all":{"usd":11887038.51725376,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":11887038.51725376,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":11887038.51725376,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.0026254579765772265,"debt":null},"share_of_market":{"collateral":0.00036068644351638034,"debt":null},"vs_parent":{"ltv":null,"borrow":7.429770992576615,"lend":-3.019165848077867,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.001909402820376943,"debt":null}}},"aave_v3":{"id":"aave_v3","level":"family","name":"Aave v3","class_id":"algorithmic","children":["aave_v3_ethereum","aave_v3_base","aave_v3_arbitrum","aave_v3_bsc","aave_v3_avalanche","aave_v3_polygon","aave_v3_mantle","aave_v3_optimism","aave_v3_xlayer","aave_v3_linea","aave_v3_megaeth","aave_v3_monad"],"single_deployment":false,"metrics":{"collateral":{"btc":66091.70687861169,"usd":5475488505.739409,"kind":"partial","coverage":{"in":12,"of":12},"held_by_issuers_btc":null,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":"part of it is the supplied amount each pool reports, not what is pledged against a loan"},"debt":{"usd":1390761290.505438,"low":null,"high":null,"kind":"partial","coverage":{"in":11,"of":12},"excluded":[{"id":"aave_v3_monad","usd":248795518.64417854,"kind":"whole_pool"}],"limitation":"debt against bitcoin read for 11 of 12 deployments; 1 more lend from a pool or are financed without a lien — named, not added; part of it is partial (bitcoin-only borrowers in a pool, or a desk's bounded estimate)","filed_by_issuers_usd":null},"ltv":{"value":0.40514338169897485,"debt_usd":1458522455.8752613,"collateral_usd":3600015505.0267034,"kind":"partial","coverage":{"in":11,"of":12},"limitation":"both sides read for 11 of 12 deployments"},"borrow":{"value":4.77530490536319,"weight_usd":4720652296.6419525,"low":4.0008546928129,"high":6.634344623198883,"kind":"exact","coverage":{"in":12,"of":12},"limitation":null},"lend":{"value":3.339620971634418,"weight_usd":5875212265.472374,"low":2.7961761297583108,"high":5.277912727772777,"kind":"exact","coverage":{"in":12,"of":12},"limitation":null},"liquidation":{"btc_price":43401.70566635167,"debt_usd":1458522455.8752613,"headroom_pct":0.4761249006033436,"btc_price_ref":82847.43007701098,"kind":"partial","coverage":{"in":11,"of":12},"threshold_low":0.7305264894783287,"threshold_high":0.8045536870798992,"limitation":"the priced books of 11 of 12 deployments taken as one position — an aggregate, not a forecast"},"btc_book":{"debt_btc":270.5411103211724,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"partial","coverage":{"in":11,"of":12},"limitation":"bitcoin lent against bitcoin, read for 11 of 12 deployments, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 0 carrying both sides; its rate covers the 0 with a rate read, 0.00 of the 270.54 owed"},"books":{"btc":{"debt":270.5411103211724,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","coverage":{"in":11,"of":12},"limitation":"bitcoin lent against bitcoin, read for 11 of 12 deployments, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 0 carrying both sides; its rate covers the 0 with a rate read, 0.00 of the 270.54 owed","lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":45210284.687960565,"coverage":{"in":9,"of":12},"limitation":"debt against bitcoin in loan currencies the reads do not split, at 9 of 12 deployments, as the venues' own USD valuation ($45.2m)"}}},"debt_all":{"usd":1458084112.4633398,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1390761290.505438,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1390761290.505438,"share":0.9538278886777224},{"currency":"btc","basis":"native","native":270.5411103211724,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":22112537.269940972,"share":0.015165474392683188},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":45210284.687960565,"share":0.03100663692959433}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.40514338169897485,"kind":"converted","debt_usd":1458522455.8752613,"collateral_usd":3600015505.0267034,"parts":[{"currency":"usd","debt_usd":1458522455.8752613,"collateral_usd":3600015505.0267034}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.4116768807741207,"debt":0.3116143800969033},"share_of_market":{"collateral":0.05655633086838207,"debt":0.04182712852403891},"vs_parent":{"ltv":-0.04979192436933133,"borrow":-0.12028527831501279,"lend":-0.03288927146379006,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.2993980495010094,"debt":0.20097438282830604}}},"aave_v4":{"id":"aave_v4","level":"family","name":"Aave v4","class_id":"algorithmic","children":["aave_v4_ethereum","aave_v4_avalanche"],"single_deployment":false,"metrics":{"collateral":{"btc":1288.88206562,"usd":106699458.45877515,"kind":"partial","coverage":{"in":2,"of":2},"held_by_issuers_btc":null,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":"part of it is the supplied amount each pool reports, not what is pledged against a loan"},"debt":{"usd":25993859.519709043,"low":null,"high":null,"kind":"partial","coverage":{"in":2,"of":2},"excluded":[],"limitation":"part of it is partial (bitcoin-only borrowers in a pool, or a desk's bounded estimate)","filed_by_issuers_usd":null},"ltv":{"value":0.4228634960935554,"debt_usd":27086188.531769115,"collateral_usd":64054213.19644129,"kind":"partial","coverage":{"in":2,"of":2},"limitation":null},"borrow":{"value":4.378227400206052,"weight_usd":196783447.0400598,"low":1.3763056019254796,"high":4.465974994890205,"kind":"exact","coverage":{"in":2,"of":2},"limitation":null},"lend":{"value":2.781903304061979,"weight_usd":264609598.76690388,"low":0.3679080793877349,"high":2.9687952357369602,"kind":"exact","coverage":{"in":2,"of":2},"limitation":null},"liquidation":{"btc_price":43446.729366110034,"debt_usd":27086188.531769115,"headroom_pct":0.47558144741817526,"btc_price_ref":82847.43007701098,"kind":"partial","coverage":{"in":2,"of":2},"threshold_low":0.7499978200442438,"threshold_high":0.8203621437958397,"limitation":"the priced books of 2 of 2 deployments taken as one position — an aggregate, not a forecast"},"btc_book":{"debt_btc":8.250381389999998,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","coverage":{"in":2,"of":2},"limitation":"bitcoin lent against bitcoin, read for 2 of 2 deployments, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 0 carrying both sides; its rate covers the 0 with a rate read, 0.00 of the 8.25 owed"},"books":{"btc":{"debt":8.250381389999998,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","coverage":{"in":2,"of":2},"limitation":"bitcoin lent against bitcoin, read for 2 of 2 deployments, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 0 carrying both sides; its rate covers the 0 with a rate read, 0.00 of the 8.25 owed","lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":403792.6534724834,"coverage":{"in":2,"of":2},"limitation":"debt against bitcoin in loan currencies the reads do not split, at 2 of 2 deployments, as the venues' own USD valuation ($403,793)"}}},"debt_all":{"usd":27071992.81501974,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":25993859.519709043,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":25993859.519709043,"share":0.9601753257443042},{"currency":"btc","basis":"native","native":8.250381389999998,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":674340.6418382135,"share":0.02490916152519383},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":403792.6534724834,"share":0.014915512730501916}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.4228634960935554,"kind":"converted","debt_usd":27086188.531769115,"collateral_usd":64054213.19644129,"parts":[{"currency":"usd","debt_usd":27086188.531769115,"collateral_usd":64054213.19644129}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.008028283328113874,"debt":0.005824191740062274},"share_of_market":{"collateral":0.0011029287031035695,"debt":0.0007817650019375709},"vs_parent":{"ltv":-0.03207180997475079,"borrow":-0.5173627834721506,"lend":-0.590606939036229,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.005838686799120023,"debt":0.0037562879481644485}}},"arcadia_v2":{"id":"arcadia_v2","level":"family","name":"Arcadia v2","class_id":"algorithmic","children":["arcadia_v2_base"],"single_deployment":true,"metrics":{"collateral":{"btc":3.07934841,"usd":251688.944435923,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1856883.8728783333,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 8.4% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 96% · contract_read 4% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":12.364215193345476,"weight_usd":1856883.8728783333,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":9.800726495036306,"weight_usd":2258831.9375106003,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":1856883.8728783333,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1856883.8728783333,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1856883.8728783333,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.000019180871672354928,"debt":null},"share_of_market":{"collateral":0.00000263507565109271,"debt":null},"vs_parent":{"ltv":null,"borrow":7.4686250096672735,"lend":6.428216251938098,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000013949570244589833,"debt":null}}},"asymmetry_usdaf":{"id":"asymmetry_usdaf","level":"family","name":"Asymmetry USDaf","class_id":"algorithmic","children":["asymmetry_usdaf_ethereum"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"avalon_finance":{"id":"avalon_finance","level":"family","name":"Avalon Finance","class_id":"algorithmic","children":["avalon_finance_bob"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"benqi_lending":{"id":"benqi_lending","level":"family","name":"BENQI Lending","class_id":"algorithmic","children":["benqi_lending_avalanche"],"single_deployment":true,"metrics":{"collateral":{"btc":247.63395573999998,"usd":20491322.11295589,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":414194.7200740001,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $3m more is owed in dollars by 169 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 89 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.19301967334161352,"debt_usd":878839.8479489998,"collateral_usd":4553110.223089,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":8.205257158504162,"weight_usd":17412093.221182246,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":5.900260689835655,"weight_usd":20365528.40030799,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":23374.221099130613,"debt_usd":878839.8479489998,"headroom_pct":0.7203024375581669,"btc_price_ref":83569.62747571888,"threshold_low":0.6901658050374028,"threshold_high":0.6901658050374028,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $39,553 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.22842018000000003,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.22842018000000003,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":445580.3768349997,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":878444.901795438,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":414194.7200740001,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":414194.7200740001,"share":0.4715090488059466},{"currency":"btc","basis":"native","native":0.22842018000000003,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":18669.804886438145,"share":0.021253245193044275},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":445580.3768349997,"share":0.5072377060010091}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.19301967334161352,"kind":"converted","debt_usd":878839.8479489998,"collateral_usd":4553110.223089,"parts":[{"currency":"usd","debt_usd":878839.8479489998,"collateral_usd":4553110.223089}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.001542480581717143,"debt":0.00009280458969947527},"share_of_market":{"collateral":0.00021190658550853742,"debt":0.000012456901057562027},"vs_parent":{"ltv":-0.26191563272669266,"borrow":3.3096669748259595,"lend":2.5277504467374468,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0011217916262163978,"debt":0.000059853929503144786}}},"fidelity":{"id":"fidelity","level":"family","name":"Fidelity","class_id":"posted-card","children":["broker_fidelity"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker lends against whole portfolios, bitcoin funds among them, and publishes no bitcoin collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker publishes no margin book against bitcoin","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker publishes no realised LTV","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"brokers publish margin rate schedules; this dataset does not read them yet","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a broker's margin lending has no published lend leg","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"margin requirements apply per account; no book-level threshold is published","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"ibkr":{"id":"ibkr","level":"family","name":"Interactive Brokers","class_id":"posted-card","children":["broker_ibkr"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker lends against whole portfolios, bitcoin funds among them, and publishes no bitcoin collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker publishes no margin book against bitcoin","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker publishes no realised LTV","observer":null},"borrow":{"value":5.63,"weight_usd":null,"low":5.13,"high":6.13,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a broker's margin lending has no published lend leg","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"margin requirements apply per account; no book-level threshold is published","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-8.760653808795961,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"schwab":{"id":"schwab","level":"family","name":"Charles Schwab","class_id":"posted-card","children":["broker_schwab"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker lends against whole portfolios, bitcoin funds among them, and publishes no bitcoin collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker publishes no margin book against bitcoin","observer":null},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"brokers publish margin rate schedules; this dataset does not read them yet","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a broker's margin lending has no published lend leg","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"margin requirements apply per account; no book-level threshold is published","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.05689999999999995,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"arch":{"id":"arch","level":"family","name":"Arch","class_id":"posted-card","children":["cefi_arch"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk holds its borrowers' bitcoin in custody and publishes no collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this desk publishes no book, and no bound on one has been derived","observer":null},"ltv":{"value":0.6,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":10.49,"weight_usd":null,"low":10.49,"high":10.49,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-21"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.15689999999999993,"borrow":-3.900653808795962,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"blockfi":{"id":"blockfi","level":"family","name":"BlockFi","class_id":"posted-card","children":["cefi_blockfi"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":0,"low":null,"high":null,"kind":"partial","limitation":null,"absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"as the desk or its filings report it — grade reported_no_assurance"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":0,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":0,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":0,"share":null}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":0},"share_of_market":{"collateral":null,"debt":0},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":0}}},"cantor":{"id":"cantor","level":"family","name":"Cantor Fitzgerald","class_id":"posted-card","children":["cefi_cantor"],"single_deployment":true,"metrics":{"collateral":{"btc":12511.21173181756,"usd":1036521739.1304349,"low":1609.3840594619903,"high":120703.80445964928,"kind":"estimate","limitation":"an estimate, not a reading: the desk does not publish its collateral. The range runs from every loan at the card's maximum LTV with the book at its low end (least bitcoin) to loans at half the maximum with the book at its high end (most); the figure shown assumes three-quarters of the maximum","absent_kind":null,"absent_because":null,"observer":"estimated: the desk's book / LTV / bitcoin price","basis":"book $100m–$2.00bn, no card of its own — the other desks' maximums 40%–75%","price_derived_btc":12511.21173181756},"debt":{"usd":447000000,"low":100000000,"high":2000000000,"kind":"estimate","limitation":"a bounded estimate ($100m–$2.00bn); the midpoint is shown","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"a bounded estimate, midpoint shown — grade derived"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no realised LTV of its book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"no current borrow card with a rate has been sourced for this desk","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":447000000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":447000000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":447000000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.21279403672333638,"debt":0.18472662899408},"share_of_market":{"collateral":0.010706157605653304,"debt":0.013443519443549169},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":0.056676284609809856,"debt":0.0645945136218195}}},"celsius":{"id":"celsius","level":"family","name":"Celsius Network","class_id":"posted-card","children":["cefi_celsius"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":0,"low":null,"high":null,"kind":"partial","limitation":null,"absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"as the desk or its filings report it — grade reported_no_assurance"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":0,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":0,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":0,"share":null}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":0},"share_of_market":{"collateral":null,"debt":0},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":0}}},"coinbase_morpho":{"id":"coinbase_morpho","level":"family","name":"Coinbase (Morpho-backed)","class_id":"posted-card","children":["cefi_coinbase_morpho"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk holds its borrowers' bitcoin in custody and publishes no collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this desk publishes no book, and no bound on one has been derived","observer":null},"ltv":{"value":0.75,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"no current borrow card with a rate has been sourced for this desk","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.30689999999999995,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"cred":{"id":"cred","level":"family","name":"Cred","class_id":"posted-card","children":["cefi_cred"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"figure":{"id":"figure","level":"family","name":"Figure","class_id":"posted-card","children":["cefi_figure"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk holds its borrowers' bitcoin in custody and publishes no collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this desk publishes no book, and no bound on one has been derived","observer":null},"ltv":{"value":0.75,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":9.999,"weight_usd":null,"low":9.999,"high":9.999,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-10-09"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.30689999999999995,"borrow":-4.391653808795962,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"galaxy":{"id":"galaxy","level":"family","name":"Galaxy Digital","class_id":"posted-card","children":["cefi_galaxy"],"single_deployment":true,"metrics":{"collateral":{"btc":9494.549188415565,"usd":786599000,"low":null,"high":null,"kind":"partial","limitation":"collateral the desk reports holding against its cash loans ($787m), converted at today's price — it does not say how much of it is bitcoin","absent_kind":null,"absent_because":null,"observer":"the desk's own report — Galaxy Digital Inc. (SEC Form 10-Q) (reviewed_unaudited)","as_of":"2026-06-30","price_derived_btc":9494.549188415565},"debt":{"usd":763356000,"low":667936500,"high":858775500,"kind":"estimate","limitation":"a bounded estimate ($668m–$859m); the midpoint is shown","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-06-30","basis":"a bounded estimate, midpoint shown — grade derived"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no realised LTV of its book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this lender negotiates terms per borrower and publishes no card, so there is no posted price to read","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":763356000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":763356000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":763356000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.16148583302552064,"debt":0.3154634912805479},"share_of_market":{"collateral":0.008124723822497211,"debt":0.022957922211073647},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":0.04301068382337298,"debt":0.11031008845704172}}},"genesis@unclassed":{"id":"genesis@unclassed","level":"family","name":"Genesis Global Capital","class_id":"unclassed","children":["cefi_genesis"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":null,"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"unclassed","name":"Futures and brokers (no rate class)"}},"secured_view":{"share_of_market":null}},"hodlnaut":{"id":"hodlnaut","level":"family","name":"Hodlnaut","class_id":"posted-card","children":["cefi_hodlnaut"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"ledn":{"id":"ledn","level":"family","name":"Ledn","class_id":"posted-card","children":["cefi_ledn"],"single_deployment":true,"metrics":{"collateral":{"btc":21178.149522,"usd":1754555261.6843786,"low":null,"high":null,"kind":"partial","limitation":"the bitcoin the desk reports posted against its loans, as it reports it — not independently verified","absent_kind":null,"absent_because":null,"observer":"the desk's own report — Ledn Open Book Report, figures reported by The Network Firm LLP (not an audit, review or attestation) (self_reported)","as_of":"2026-10-01"},"debt":{"usd":785435897,"low":null,"high":null,"kind":"partial","limitation":null,"absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-10-01","basis":"as the desk or its filings report it — grade self_reported"},"ltv":{"value":0.44310000000000005,"debt_usd":785435897,"collateral_usd":1772592861.6565108,"kind":"partial","limitation":"the average LTV the desk reports for its book, as it reports it — not independently verified","absent_kind":null,"absent_because":null,"observer":"the desk's own report — Ledn Open Book Report, figures reported by The Network Firm LLP (not an audit, review or attestation) (self_reported)","as_of":"2026-10-01"},"borrow":{"value":11.49,"weight_usd":785435897,"low":11.49,"high":11.49,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-11"},"lend":{"value":6.5,"weight_usd":785435897,"low":6.5,"high":6.5,"kind":"posted","limitation":"a rate the desk posts to lenders, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":785435897,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":785435897,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":785435897,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.44310000000000005,"kind":"converted","debt_usd":785435897,"collateral_usd":1772592861.6565108,"parts":[{"currency":"usd","debt_usd":785435897,"collateral_usd":1772592861.6565108}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.36020363364613006,"debt":0.3245882003215915},"share_of_market":{"collateral":0.01812267360179062,"debt":0.02362197483888363},"vs_parent":{"ltv":0,"borrow":-2.900653808795962,"lend":0.3557569792090778,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":0.09593785602440666,"debt":0.11350078243362981}}},"milo":{"id":"milo","level":"family","name":"Milo","class_id":"posted-card","children":["cefi_milo"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk holds its borrowers' bitcoin in custody and publishes no collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this desk publishes no book, and no bound on one has been derived","observer":null},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":10.75,"weight_usd":null,"low":10.75,"high":10.75,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-21"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.05689999999999995,"borrow":-3.640653808795962,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"nexo":{"id":"nexo","level":"family","name":"Nexo","class_id":"posted-card","children":["cefi_nexo"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's book covers every collateral it takes and bitcoin's share of it is not published, so its bitcoin cannot be estimated from it","observer":null},"debt":{"usd":850000000,"low":0,"high":1700000000,"kind":"whole_book","limitation":"the desk's whole book, against every collateral it takes — not a bitcoin figure, and not in the bitcoin total","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"a bounded estimate, midpoint shown — grade derived; collateral all_collateral, so not a bitcoin-only figure and not counted in the bitcoin total"},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":17.9,"weight_usd":850000000,"low":17.9,"high":17.9,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-10-09"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":850000000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":850000000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":850000000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.05689999999999995,"borrow":3.5093461912040365,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"salt":{"id":"salt","level":"family","name":"SALT","class_id":"posted-card","children":["cefi_salt"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's book covers every collateral it takes and bitcoin's share of it is not published, so its bitcoin cannot be estimated from it","observer":null},"debt":{"usd":45000000,"low":10000000,"high":200000000,"kind":"whole_book","limitation":"the desk's whole book, against every collateral it takes — not a bitcoin figure, and not in the bitcoin total","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"a bounded estimate, midpoint shown — grade derived; collateral all_collateral, so not a bitcoin-only figure and not counted in the bitcoin total"},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":8.75,"weight_usd":45000000,"low":8.75,"high":8.75,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-10-09"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":45000000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":45000000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":45000000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.05689999999999995,"borrow":-5.640653808795962,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"strike":{"id":"strike","level":"family","name":"Strike","class_id":"posted-card","children":["cefi_strike"],"single_deployment":true,"metrics":{"collateral":{"btc":11587.565228126328,"usd":959999999.9999998,"low":1341.153382884992,"high":112656.88416233934,"kind":"estimate","limitation":"an estimate, not a reading: the desk does not publish its collateral. The range runs from every loan at the card's maximum LTV with the book at its low end (least bitcoin) to loans at half the maximum with the book at its high end (most); the figure shown assumes three-quarters of the maximum","absent_kind":null,"absent_because":null,"observer":"estimated: the desk's book / LTV / bitcoin price","basis":"book $50m–$2.10bn, card maximum LTV 45%","price_derived_btc":11587.565228126328},"debt":{"usd":324000000,"low":50000000,"high":2100000000,"kind":"estimate","limitation":"a bounded estimate ($50m–$2.10bn); the midpoint is shown","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"a bounded estimate, midpoint shown — grade derived"},"ltv":{"value":0.45,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":14.2,"weight_usd":324000000,"low":14.2,"high":14.2,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-07-21"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":324000000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":324000000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":324000000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.19708440985114373,"debt":0.13389581161987005},"share_of_market":{"collateral":0.00991577013141044,"debt":0.009744295972505439},"vs_parent":{"ltv":0.006899999999999962,"borrow":-0.19065380879596283,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":0.05249212937015945,"debt":0.046820184370177896}}},"tether":{"id":"tether","level":"family","name":"Tether","class_id":"posted-card","children":["cefi_tether"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's book covers every collateral it takes and bitcoin's share of it is not published, so its bitcoin cannot be estimated from it","observer":null},"debt":{"usd":13453749726,"low":null,"high":null,"kind":"whole_book","limitation":"the desk's whole book, against every collateral it takes — not a bitcoin figure, and not in the bitcoin total","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-06-30","basis":"as the desk or its filings report it — grade reviewed_unaudited; collateral unstated, so not a bitcoin-only figure and not counted in the bitcoin total"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no realised LTV of its book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this lender negotiates terms per borrower and publishes no card, so there is no posted price to read","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":13453749726,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":13453749726,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":13453749726,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"two_prime":{"id":"two_prime","level":"family","name":"Two Prime","class_id":"posted-card","children":["cefi_two_prime"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk holds its borrowers' bitcoin in custody and publishes no collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this desk publishes no book, and no bound on one has been derived","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no realised LTV of its book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this lender negotiates terms per borrower and publishes no card, so there is no posted price to read","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"unchained":{"id":"unchained","level":"family","name":"Unchained","class_id":"posted-card","children":["cefi_unchained"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk holds its borrowers' bitcoin in custody and publishes no collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this desk publishes no book, and no bound on one has been derived","observer":null},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":14.18,"weight_usd":null,"low":14.18,"high":14.18,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-21"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.05689999999999995,"borrow":-0.2106538087959624,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"vauld":{"id":"vauld","level":"family","name":"Vauld","class_id":"posted-card","children":["cefi_vauld"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"voyager":{"id":"voyager","level":"family","name":"Voyager Digital","class_id":"posted-card","children":["cefi_voyager"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"xapo":{"id":"xapo","level":"family","name":"Xapo Bank","class_id":"posted-card","children":["cefi_xapo"],"single_deployment":true,"metrics":{"collateral":{"btc":4023.4601486549755,"usd":333333333.3333333,"low":603.5190222982463,"high":30175.95111491232,"kind":"estimate","limitation":"an estimate, not a reading: the desk does not publish its collateral. The range runs from every loan at the card's maximum LTV with the book at its low end (least bitcoin) to loans at half the maximum with the book at its high end (most); the figure shown assumes three-quarters of the maximum","absent_kind":null,"absent_because":null,"observer":"estimated: the desk's book / LTV / bitcoin price","basis":"book $20m–$500m, card maximum LTV 40%","price_derived_btc":4023.4601486549755},"debt":{"usd":100000000,"low":20000000,"high":500000000,"kind":"estimate","limitation":"a bounded estimate ($20m–$500m); the midpoint is shown","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"a bounded estimate, midpoint shown — grade derived"},"ltv":{"value":0.4,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":10.5,"weight_usd":100000000,"low":10.5,"high":10.5,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-11"},"lend":{"value":3.35,"weight_usd":100000000,"low":3.35,"high":3.35,"kind":"posted","limitation":"a rate the desk posts to lenders, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":100000000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":100000000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":100000000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.06843208675386936,"debt":0.04132586778391051},"share_of_market":{"collateral":0.00344297574007307,"debt":0.003007498756946123},"vs_parent":{"ltv":-0.04310000000000003,"borrow":-3.890653808795962,"lend":-2.794243020790922,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":0.018226433809083144,"debt":0.014450674188326513}}},"colend_protocol":{"id":"colend_protocol","level":"family","name":"Colend Protocol","class_id":"algorithmic","children":["colend_protocol_core"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":321812.4,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (no bitcoin in the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":16,"weight_usd":321812.4,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":1.0387033925932214,"weight_usd":602384.2333333333,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":321812.4,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":321812.4,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":321812.4,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":11.104409816321798,"lend":-2.3338068505049865,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"compound_v2":{"id":"compound_v2","level":"family","name":"Compound v2","class_id":"algorithmic","children":["compound_v2_ethereum"],"single_deployment":true,"metrics":{"collateral":{"btc":285.75700037,"usd":23674233.107169975,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":2826693.9973459993,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $840,298 more is owed in dollars by 119 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 173 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.18289580110393439,"debt_usd":2872670.1934179985,"collateral_usd":15706594.553176994,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its borrow rate is not read yet","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its lend rate is not read yet","observer":null},"liquidation":{"btc_price":22153.222192936384,"debt_usd":2872670.1934179985,"headroom_pct":0.7345309484454501,"btc_price_ref":83449.35902399995,"threshold_low":0.6891394383938679,"threshold_high":0.6891394383938679,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $9,369 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.01151921,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.01151921,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":45014.92539399915,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":2872650.4393920996,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":2826693.9973459993,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2826693.9973459993,"share":0.9840020764740782},{"currency":"btc","basis":"native","native":0.01151921,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":941.516652100997,"share":0.00032775190437031994},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":45014.92539399915,"share":0.015670171621551366}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.18289580110393439,"kind":"converted","debt_usd":2872670.1934179985,"collateral_usd":15706594.553176994,"parts":[{"currency":"usd","debt_usd":2872670.1934179985,"collateral_usd":15706594.553176994}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0017799442037070594,"debt":0.0006333498809033518},"share_of_market":{"collateral":0.0002445294307584628,"debt":0.0000850127868328516},"vs_parent":{"ltv":-0.2720395049643718,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0012944905281259153,"debt":0.0004084763398574532}}},"compound_v3":{"id":"compound_v3","level":"family","name":"Compound v3","class_id":"algorithmic","children":["compound_v3_ethereum","compound_v3_arbitrum","compound_v3_base","compound_v3_optimism","compound_v3_polygon"],"single_deployment":false,"metrics":{"collateral":{"btc":7502.847301959902,"usd":621591617.2276136,"kind":"exact","coverage":{"in":5,"of":5},"held_by_issuers_btc":null,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":null},"debt":{"usd":97417423.3244993,"low":null,"high":null,"kind":"partial","coverage":{"in":5,"of":5},"excluded":[],"limitation":"part of it is partial (bitcoin-only borrowers in a pool, or a desk's bounded estimate)","filed_by_issuers_usd":null},"ltv":{"value":0.44005945527819346,"debt_usd":97845655.57045063,"collateral_usd":222346445.2288505,"kind":"partial","coverage":{"in":5,"of":5},"limitation":null},"borrow":{"value":4.9968022375998675,"weight_usd":497946968.0577763,"low":2.7870243514228488,"high":6.366882497937811,"kind":"exact","coverage":{"in":5,"of":5},"limitation":null},"lend":{"value":4.114137935473909,"weight_usd":563174596.849602,"low":0,"high":5.253227623982316,"kind":"exact","coverage":{"in":5,"of":5},"limitation":null},"liquidation":{"btc_price":43234.116277879555,"debt_usd":97845655.57045063,"headroom_pct":0.47814776828090866,"btc_price_ref":82847.43007701098,"kind":"partial","coverage":{"in":5,"of":5},"threshold_low":0.8274646672430592,"threshold_high":0.8500000000000001,"limitation":"the priced books of 5 of 5 deployments taken as one position — an aggregate, not a forecast"},"btc_book":{"debt_btc":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","coverage":{"in":5,"of":5},"limitation":"bitcoin lent against bitcoin, read for 5 of 5 deployments, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 0 carrying both sides; its rate covers the 0 with a rate read, 0.00 of the 0.00 owed"},"books":{"btc":{"debt":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","coverage":{"in":5,"of":5},"limitation":"bitcoin lent against bitcoin, read for 5 of 5 deployments, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 0 carrying both sides; its rate covers the 0 with a rate read, 0.00 of the 0.00 owed","lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":428232.2459513331,"coverage":{"in":4,"of":5},"limitation":"debt against bitcoin in loan currencies the reads do not split, at 4 of 5 deployments, as the venues' own USD valuation ($428,232)"}}},"debt_all":{"usd":97845655.57045063,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":97417423.3244993,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":97417423.3244993,"share":0.995623390293062},{"currency":"btc","basis":"native","native":0,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":0,"share":0},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":428232.2459513331,"share":0.004376609706937863}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.44005945527819346,"kind":"converted","debt_usd":97845655.57045063,"collateral_usd":222346445.2288505,"parts":[{"currency":"usd","debt_usd":97845655.57045063,"collateral_usd":222346445.2288505}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.04673428664610488,"debt":0.021827376263017118},"share_of_market":{"collateral":0.006420374575042378,"debt":0.002929827795533259},"vs_parent":{"ltv":-0.014875850790112721,"borrow":0.10121205392166477,"lend":0.7416276923757015,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.033988195403040135,"debt":0.01407747444728619}}},"blockchain_group":{"id":"blockchain_group","level":"family","name":"Capital B","class_id":"corporate","children":["corp_blockchain_group"],"single_deployment":true,"metrics":{"collateral":{"btc":3525,"usd":288114045.89863497,"low":null,"high":null,"kind":"analogue","limitation":"bitcoin the issuer holds and reports, not collateral pledged to its creditors: there is no lien on it","absent_kind":null,"absent_because":null,"observer":"issuer filings — the bitcoin the issuer reports holding","as_of":"2026-09-14","basis":"https://cptlb.com/wp-content/uploads/2026/09/0vcKV41w13/20260914-Capital-B-CP-14-septembre-2026-EN-FINAL.pdf (press release, 2026-09-14): \"Capital B and its subsidiary Capital B Luxembourg SA hold a total of 3,525 BTC as part of the Bitcoin Treasury Company strategy\". Excludes \"an additional 61 BTC for its operational needs... segregated from its Bitcoin reserve\"."},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"all of this issuer's registered debt is outside USD: €82m (≈$93m) in other currencies — shown separately, not in the BTC-USD figures","observer":null},"ltv":{"value":0.32214029690226825,"debt_usd":null,"collateral_usd":null,"kind":"analogue","limitation":"registered debt over the value of the bitcoin held — not an LTV: there is no lien","absent_kind":null,"absent_because":null,"observer":"SEC EDGAR filings","as_of":"2026-09-14","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"no listed instrument of this issuer carries a market price, so there is no price-implied yield","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate lending, not bitcoin-backed credit: the holders of the issuer's listed debt and preferreds lend to it unsecured, with no lien on its bitcoin. What they earn is the issuer's cost, served as the borrow rate, so it is not a lend rate here","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"no lien, so nothing is liquidated: a holder has no claim on the coins","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate issuers borrow against no lien on bitcoin"},"books":{"eur":{"debt":82434625,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"capital_b_oca_a_03,capital_b_oca_a_04,capital_b_oca_a_05,capital_b_oca_b_02,capital_b_oca_b_03,capital_b_oca_b_04","kind":"analogue","limitation":"EUR debt the issuer has filed (capital_b_oca_a_03,capital_b_oca_a_04,capital_b_oca_a_05,capital_b_oca_b_02,capital_b_oca_b_03,capital_b_oca_b_04), at the filed amount: financed by bitcoin it holds, with no lien on it, so not secured by bitcoin (analogue); counted with corporate in view, never in the secured market","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.0037189389471551965,"debt":null},"share_of_market":{"collateral":0.003016430891657954,"debt":null},"vs_parent":{"ltv":-0.01899427372532775,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"corporate","name":"Corporate"}},"secured_view":{"share_of_market":null}},"mara":{"id":"mara","level":"family","name":"MARA Holdings","class_id":"corporate","children":["corp_marathon"],"single_deployment":true,"metrics":{"collateral":{"btc":26307,"usd":2150188994.4554296,"low":null,"high":null,"kind":"analogue","limitation":"bitcoin the issuer holds and reports, not collateral pledged to its creditors: there is no lien on it","absent_kind":null,"absent_because":null,"observer":"issuer filings — the bitcoin the issuer reports holding","as_of":"2026-06-30","basis":"SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 5 DIGITAL ASSETS: \"As of June 30, 2026 ... Quantity Cost Basis Fair Value Bitcoin 26,307 $ 1,889,537 $ 1,540,574\". READ, NOT DERIVED — this closes the pending below on its own terms: the count is absent from XBRL (CryptoAssetNumberOfUnits is untagged for this filer) but present in the filing's own table, so no division by a BTC close was needed. SCOPE: this is bitcoin HELD. The same table reports \"Bitcoin - receivable 9,270\" and \"Total bitcoin holdings 35,577\". The receivable is coin lent to counterparties and not in the company's possession, so it is deliberately EXCLUDED here; a backing ratio built on 35,577 would count collateral the issuer does not hold. Use 35,577 only where the intent is economic exposure, and say which is meant."},"debt":{"usd":3047201000,"low":null,"high":null,"kind":"analogue","limitation":"registered debt financed by bitcoin the issuer holds — no lien on the coins, so not debt secured by them","absent_kind":null,"absent_because":null,"observer":"issuer filings","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it"},"ltv":{"value":1.4171782145000484,"debt_usd":3047201000,"collateral_usd":2150188994.4554296,"kind":"analogue","limitation":"registered debt over the value of the bitcoin held — not an LTV: there is no lien","absent_kind":null,"absent_because":null,"observer":"SEC EDGAR filings","as_of":"2026-06-30","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"no listed instrument of this issuer carries a market price, so there is no price-implied yield","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate lending, not bitcoin-backed credit: the holders of the issuer's listed debt and preferreds lend to it unsecured, with no lien on its bitcoin. What they earn is the issuer's cost, served as the borrow rate, so it is not a lend rate here","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"no lien, so nothing is liquidated: a holder has no claim on the coins","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate issuers borrow against no lien on bitcoin"},"books":{},"debt_all":{"usd":3047201000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":3047201000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":3047201000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":1.4171782145000484,"kind":"converted","debt_usd":3047201000,"collateral_usd":2150188994.4554296,"parts":[{"currency":"usd","debt_usd":3047201000,"collateral_usd":2150188994.4554296}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.027754362236258653,"debt":0.11573057529850632},"share_of_market":{"collateral":0.022511559565062636,"debt":0.09164453219664982},"vs_parent":{"ltv":1.0760436438724525,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"corporate","name":"Corporate"}},"secured_view":{"share_of_market":null}},"metaplanet":{"id":"metaplanet","level":"family","name":"Metaplanet","class_id":"corporate","children":["corp_metaplanet"],"single_deployment":true,"metrics":{"collateral":{"btc":43000,"usd":3514582687.5578165,"low":null,"high":null,"kind":"analogue","limitation":"bitcoin the issuer holds and reports, not collateral pledged to its creditors: there is no lien on it","absent_kind":null,"absent_because":null,"observer":"issuer filings — the bitcoin the issuer reports holding","as_of":"2026-08-18","basis":"https://contents.xj-storage.jp/xcontents/33500/c02155bd/0bd0/4333/ac51/6085aab46d18/140120260818522603.pdf (Super League notice, 2026-08-18): \"held 43,000 BTC as of August 18, 2026\". Same count at 2026-06-30 in the Q2 FY2026 Tanshin (https://contents.xj-storage.jp/xcontents/33500/ccef5126/8cc0/4501/b779/01892d97a274/140120260813519694.pdf). 2,100 BTC are to move in kind to Super League (a group subsidiary) in Q4 2026 — still inside the group."},"debt":{"usd":414000000,"low":null,"high":null,"kind":"analogue","limitation":"registered debt financed by bitcoin the issuer holds — no lien on the coins, so not debt secured by them","absent_kind":null,"absent_because":null,"observer":"issuer filings","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it"},"ltv":{"value":0.17478722734536986,"debt_usd":414000000,"collateral_usd":3514582687.5578165,"kind":"analogue","limitation":"registered debt over the value of the bitcoin held — not an LTV: there is no lien","absent_kind":null,"absent_because":null,"observer":"SEC EDGAR filings","as_of":"2026-08-18","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"no listed instrument of this issuer carries a market price, so there is no price-implied yield","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate lending, not bitcoin-backed credit: the holders of the issuer's listed debt and preferreds lend to it unsecured, with no lien on its bitcoin. What they earn is the issuer's cost, served as the borrow rate, so it is not a lend rate here","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"no lien, so nothing is liquidated: a holder has no claim on the coins","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate issuers borrow against no lien on bitcoin"},"books":{"jpy":{"debt":31610000000,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"metaplanet_bond_20,metaplanet_class_b","kind":"analogue","limitation":"JPY debt the issuer has filed (metaplanet_bond_20,metaplanet_class_b), at the filed amount: financed by bitcoin it holds, with no lien on it, so not secured by bitcoin (analogue); counted with corporate in view, never in the secured market","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"JPY: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":0.11779492383708201,"kind":"converted","debt_usd":414000000,"collateral_usd":3514582687.5578165,"parts":[{"currency":"usd","debt_usd":414000000,"collateral_usd":3514582687.5578165}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.04536578006458821,"debt":0.01572343215087604},"share_of_market":{"collateral":0.0367961782528488,"debt":0.012451044853756948},"vs_parent":{"ltv":-0.16634734328222614,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"corporate","name":"Corporate"}},"secured_view":{"share_of_market":null}},"riot":{"id":"riot","level":"family","name":"Riot Platforms","class_id":"corporate","children":["corp_riot"],"single_deployment":true,"metrics":{"collateral":{"btc":11380,"usd":930138394.9862314,"low":null,"high":null,"kind":"analogue","limitation":"bitcoin the issuer holds and reports, not collateral pledged to its creditors: there is no lien on it","absent_kind":null,"absent_because":null,"observer":"issuer filings — the bitcoin the issuer reports holding","as_of":"2026-06-30","basis":"SEC EDGAR accession 0001104659-26-093448 (10-Q, period 2026-06-30, filed 2026-08-10), XBRL us-gaap:CryptoAssetNumberOfUnits, unit [item]."},"debt":{"usd":794383000,"low":null,"high":null,"kind":"analogue","limitation":"registered debt financed by bitcoin the issuer holds — no lien on the coins, so not debt secured by them; filed but outside the registered stack, so not added: $20 Million Credit Facility (revolver), cash-collateralized ($20m), $50 Million Credit Facility (revolver), cash-collateralized ($34m), as filed for 2026-06-30","absent_kind":null,"absent_because":null,"observer":"issuer filings","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it"},"ltv":{"value":0.8540481763595609,"debt_usd":794383000,"collateral_usd":930138394.9862314,"kind":"analogue","limitation":"registered debt over the value of the bitcoin held — not an LTV: there is no lien","absent_kind":null,"absent_because":null,"observer":"SEC EDGAR filings","as_of":"2026-06-30","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"no listed instrument of this issuer carries a market price, so there is no price-implied yield","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate lending, not bitcoin-backed credit: the holders of the issuer's listed debt and preferreds lend to it unsecured, with no lien on its bitcoin. What they earn is the issuer's cost, served as the borrow rate, so it is not a lend rate here","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"no lien, so nothing is liquidated: a holder has no claim on the coins","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate issuers borrow against no lien on bitcoin"},"books":{},"debt_all":{"usd":794383000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":794383000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":794383000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.854048176359561,"kind":"converted","debt_usd":794383000,"collateral_usd":930138394.9862314,"parts":[{"currency":"usd","debt_usd":794383000,"collateral_usd":930138394.9862314}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.012006106445000322,"debt":0.03017011401524},"share_of_market":{"collateral":0.009738151360870218,"debt":0.02389105885039132},"vs_parent":{"ltv":0.5129136057319649,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"corporate","name":"Corporate"}},"secured_view":{"share_of_market":null}},"strategy":{"id":"strategy","level":"family","name":"Strategy","class_id":"corporate","children":["corp_strategy"],"single_deployment":true,"metrics":{"collateral":{"btc":843775,"usd":68965511795.21155,"low":null,"high":null,"kind":"analogue","limitation":"bitcoin the issuer holds and reports, not collateral pledged to its creditors: there is no lien on it","absent_kind":null,"absent_because":null,"observer":"issuer filings — the bitcoin the issuer reports holding","as_of":"2026-07-24","basis":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history."},"debt":{"usd":21291595000,"low":null,"high":21335558098.56,"kind":"analogue","limitation":"registered debt financed by bitcoin the issuer holds — no lien on the coins, so not debt secured by them; preferred stock counted at its stated amount; its liquidation preference (the greatest of $100, the last close and the 10-day average close, per each Certificate of Designations) is up to $44m more, the high bound — dividend arrears not added","absent_kind":null,"absent_because":null,"observer":"issuer filings","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it"},"ltv":{"value":0.32154789289245467,"debt_usd":21291595000,"collateral_usd":68965511795.21155,"kind":"analogue","limitation":"registered debt over the value of the bitcoin held — not an LTV: there is no lien","absent_kind":null,"absent_because":null,"observer":"SEC EDGAR filings","as_of":"2026-07-24","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them"},"borrow":{"value":11.3721357482297,"weight_usd":21291595000,"low":9.669309611293754,"high":13.693002875530604,"kind":"analogue","limitation":"the yield a holder of the issuer's listed instruments receives — the issuer's cost of this capital, with no lien behind it","absent_kind":null,"absent_because":null,"observer":"IEX last sale (IEX HIST); SEC EDGAR terms","as_of":"2026-10-12"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate lending, not bitcoin-backed credit: the holders of the issuer's listed debt and preferreds lend to it unsecured, with no lien on its bitcoin. What they earn is the issuer's cost, served as the borrow rate, so it is not a lend rate here","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"no lien, so nothing is liquidated: a holder has no claim on the coins","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate issuers borrow against no lien on bitcoin"},"books":{"eur":{"debt":775000000,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"strategy_stre","kind":"analogue","limitation":"EUR debt the issuer has filed (strategy_stre), at the filed amount: financed by bitcoin it holds, with no lien on it, so not secured by bitcoin (analogue); counted with corporate in view, never in the secured market","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":0.30872815188008695,"kind":"converted","debt_usd":21291595000,"collateral_usd":68965511795.21155,"parts":[{"currency":"usd","debt_usd":21291595000,"collateral_usd":68965511795.21155}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.89019793195344,"debt":0.808639974315052},"share_of_market":{"collateral":0.7220394257045929,"debt":0.6403444549590028},"vs_parent":{"ltv":-0.019586677735141333,"borrow":-0.060521083332893966,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"corporate","name":"Corporate"}},"secured_view":{"share_of_market":null}},"strive":{"id":"strive","level":"family","name":"Strive","class_id":"corporate","children":["corp_strive"],"single_deployment":true,"metrics":{"collateral":{"btc":19864,"usd":1623573732.6894991,"low":null,"high":null,"kind":"analogue","limitation":"bitcoin the issuer holds and reports, not collateral pledged to its creditors: there is no lien on it","absent_kind":null,"absent_because":null,"observer":"issuer filings — the bitcoin the issuer reports holding","as_of":"2026-06-30","basis":"SEC EDGAR accession 0001628280-26-054985 (10-Q, period 2026-06-30), R35 Digital Assets, at Fair Value — Investment of Digital Assets: \"Approximate number of bitcoin held 19,864\", aggregate fair value $1,164,639 thousand, \"Fair value per bitcoin $58,631\" — the three agree (19,864 x 58,631 = 1,164.6m). READ, NOT DERIVED."},"debt":{"usd":782950200,"low":null,"high":null,"kind":"analogue","limitation":"registered debt financed by bitcoin the issuer holds — no lien on the coins, so not debt secured by them","absent_kind":null,"absent_because":null,"observer":"issuer filings","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it"},"ltv":{"value":0.48223877008838967,"debt_usd":782950200,"collateral_usd":1623573732.6894991,"kind":"analogue","limitation":"registered debt over the value of the bitcoin held — not an LTV: there is no lien","absent_kind":null,"absent_because":null,"observer":"SEC EDGAR filings","as_of":"2026-06-30","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them"},"borrow":{"value":13.078470824949695,"weight_usd":782950200,"low":13.078470824949697,"high":13.078470824949697,"kind":"analogue","limitation":"the yield a holder of the issuer's listed instruments receives — the issuer's cost of this capital, with no lien behind it","absent_kind":null,"absent_because":null,"observer":"IEX last sale (IEX HIST); SEC EDGAR terms","as_of":"2026-10-12"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate lending, not bitcoin-backed credit: the holders of the issuer's listed debt and preferreds lend to it unsecured, with no lien on its bitcoin. What they earn is the issuer's cost, served as the borrow rate, so it is not a lend rate here","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"no lien, so nothing is liquidated: a holder has no claim on the coins","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate issuers borrow against no lien on bitcoin"},"books":{},"debt_all":{"usd":782950200,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":782950200,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":782950200,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.48223877008838967,"kind":"converted","debt_usd":782950200,"collateral_usd":1623573732.6894991,"parts":[{"currency":"usd","debt_usd":782950200,"collateral_usd":1623573732.6894991}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.02095688035355768,"debt":0.029735904220325664},"share_of_market":{"collateral":0.01699812290266485,"debt":0.023547217532507183},"vs_parent":{"ltv":0.14110419946079367,"borrow":1.645813993387101,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"corporate","name":"Corporate"}},"secured_view":{"share_of_market":null}},"crvusd":{"id":"crvusd","level":"family","name":"crvUSD","class_id":"minted","children":["crvusd_ethereum"],"single_deployment":true,"metrics":{"collateral":{"btc":869.331553927354,"usd":71717101.13188234,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":34011149.68019114,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 4 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.474240441169634,"debt_usd":34011149.68019114,"collateral_usd":71717101.13188234,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 4 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":3.510134387404177,"weight_usd":74153935.23095378,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":41248.9257632463,"debt_usd":34011149.68019114,"headroom_pct":0.502109773050253,"btc_price_ref":82847.43007701098,"threshold_low":0.94,"threshold_high":0.965,"kind":"derived","limitation":"the markets taken together at one threshold (they run 94%–96.5%, which puts it between $40,715 and $41,797); debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/curve.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":34011149.68019114,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":34011149.68019114,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":34011149.68019114,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.474240441169634,"kind":"converted","debt_usd":34011149.68019114,"collateral_usd":71717101.13188234,"parts":[{"currency":"usd","debt_usd":34011149.68019114,"collateral_usd":71717101.13188234}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.6163034541153164,"debt":0.9143010402247083},"share_of_market":{"collateral":0.0007439088097473711,"debt":0.0010228849038548338},"vs_parent":{"ltv":0.04467880590175821,"borrow":-4.161211606254213,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.003938106366258198,"debt":0.004914840427988476}}},"current":{"id":"current","level":"family","name":"Current","class_id":"algorithmic","children":["current_sui"],"single_deployment":true,"metrics":{"collateral":{"btc":34.74216335407353,"usd":2834102.5045654103,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":50304775.773877785,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 2.4% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":4.258280744228055,"weight_usd":50304775.77387778,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.279797583743141,"weight_usd":76312008.81513366,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":50304775.773877785,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":50304775.773877785,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":50304775.773877785,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00021640454024313426,"debt":null},"share_of_market":{"collateral":0.00002972974036432747,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.6373094394501475,"lend":-1.0927126593550671,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00015738337584108043,"debt":null}}},"curvance":{"id":"curvance","level":"family","name":"Curvance","class_id":"algorithmic","children":["curvance_monad"],"single_deployment":true,"metrics":{"collateral":{"btc":551.4734226646,"usd":45665518.58403519,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":4.302853765468905,"weight_usd":264707.89147251553,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":32.46513844,"collateral_btc":551.3305442846,"ltv":0.05888507135429323,"borrow_rate":null,"denomination_asset":"WBTC","kind":"exact","limitation":"bitcoin lent against bitcoin in 1 market(s), in wrapper units (WBTC) — a wrapper is not BTC; debt and collateral wrappers are taken at par for the ratio (each is pegged within 50 bps, asset_peg). A separate book: never added to the dollar figures","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":32.46513844,"collateral_btc":551.3305442846,"ltv":0.05888507135429323,"borrow_rate":null,"asset":"WBTC","kind":"exact","limitation":"bitcoin lent against bitcoin in 1 market(s), in wrapper units (WBTC) — a wrapper is not BTC; debt and collateral wrappers are taken at par for the ratio (each is pegged within 50 bps, asset_peg). A separate book: never added to the dollar figures","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":32.46513844,"ltv_collateral_btc":551.3305442846,"venue_priced":null}},"debt_all":{"usd":2653521.2444277154,"kind":"converted","parts":[{"currency":"btc","basis":"native","native":32.46513844,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":2653521.2444277154,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.05888507135429324,"kind":"converted","debt_usd":2653521.2444277154,"collateral_usd":45062715.95498798,"parts":[{"currency":"btc","debt_usd":2653521.2444277154,"collateral_usd":45062715.95498798,"rate_series":"price.btc_in_basket","btc_rate_series":"price.btc_in_basket","rate_date":"2026-10-12","btc_rate_date":"2026-10-12"}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (btc): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0034350581819496163,"debt":null},"share_of_market":{"collateral":0.0004719096363273314,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":0.9303435223706971,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0024981964439302323,"debt":null}}},"curve_llamalend":{"id":"curve_llamalend","level":"family","name":"Curve LlamaLend","class_id":"algorithmic","children":["curve_llamalend_ethereum","curve_llamalend_arbitrum","curve_llamalend_optimism"],"single_deployment":false,"metrics":{"collateral":{"btc":65.9407637362352,"usd":5449836.3463464,"kind":"partial","coverage":{"in":3,"of":3},"held_by_issuers_btc":null,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":"part of it is the supplied amount each pool reports, not what is pledged against a loan"},"debt":{"usd":2839686.9795491807,"low":null,"high":null,"kind":"exact","coverage":{"in":3,"of":3},"excluded":[],"limitation":null,"filed_by_issuers_usd":null},"ltv":{"value":0.5210591289503441,"debt_usd":2839686.9795491807,"collateral_usd":5449836.3463464,"kind":"exact","coverage":{"in":3,"of":3},"limitation":null},"borrow":{"value":2.5897703216408194,"weight_usd":70535915.02300654,"low":2.5897703216408194,"high":2.5897703216408194,"kind":"partial","coverage":{"in":1,"of":3},"limitation":"weighted by dollar debt for 1 of 3 deployments"},"lend":{"value":null,"absent_kind":"not_read","absent_because":"no lend rate is read for any deployment here","coverage":{"in":0,"of":3}},"liquidation":{"btc_price":44754.08285088473,"debt_usd":2839686.9795491807,"headroom_pct":0.4598011934795866,"btc_price_ref":82847.43007701098,"kind":"partial","coverage":{"in":3,"of":3},"threshold_low":0.94,"threshold_high":0.965,"limitation":"the priced books of 3 of 3 deployments taken as one position — an aggregate, not a forecast"},"btc_book":{"debt_btc":null,"absent_kind":"not_read","coverage":{"in":0,"of":3},"absent_because":"no deployment here has bitcoin lent against bitcoin read"},"books":{},"debt_all":{"usd":2839686.9795491807,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":2839686.9795491807,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2839686.9795491807,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.5210591289503441,"kind":"converted","debt_usd":2839686.9795491807,"collateral_usd":5449836.3463464,"parts":[{"currency":"usd","debt_usd":2839686.9795491807,"collateral_usd":5449836.3463464}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0004107366750363278,"debt":0.0006362610922826843},"share_of_market":{"collateral":0.00005642716503645345,"debt":0.00008540355061110251},"vs_parent":{"ltv":0.06612382288203794,"borrow":-2.3058198620373833,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00029871427108844585,"debt":0.0004103539133829822}}},"dolomite":{"id":"dolomite","level":"family","name":"Dolomite","class_id":"algorithmic","children":["dolomite_arbitrum","dolomite_berachain","dolomite_ethereum"],"single_deployment":false,"metrics":{"collateral":{"btc":71.60663146839525,"usd":5921386.76733525,"kind":"partial","coverage":{"in":3,"of":3},"held_by_issuers_btc":null,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":"part of it is the supplied amount each pool reports, not what is pledged against a loan"},"debt":{"usd":321434357.9626833,"kind":"whole_pool","coverage":{"in":3,"of":3},"excluded":[{"id":"dolomite_arbitrum","usd":2931433.0052141105,"kind":"whole_pool"},{"id":"dolomite_berachain","usd":1993477.3087717406,"kind":"whole_pool"},{"id":"dolomite_ethereum","usd":316509447.6486975,"kind":"whole_pool"}],"limitation":"the pools' whole lending against every collateral they take — not debt against bitcoin, never added to a bitcoin total"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its bitcoin collateral","coverage":{"in":0,"of":3}},"borrow":{"value":4.782343943605579,"weight_usd":321434357.9626833,"low":4.747507444790975,"high":7.763892923331044,"kind":"exact","coverage":{"in":3,"of":3},"limitation":null},"lend":{"value":2.8016548723237817,"weight_usd":443433475.1286346,"low":2.780478941430165,"high":4.431518032953612,"kind":"exact","coverage":{"in":3,"of":3},"limitation":null},"liquidation":{"btc_price":null,"kind":"parameter","coverage":{"in":3,"of":3},"threshold_low":0.85,"threshold_high":0.869565,"limitation":"the range of the liquidation thresholds set by 3 of 3 deployments; no bitcoin book here is read to turn them into a price"},"btc_book":{"debt_btc":null,"absent_kind":"not_read","coverage":{"in":0,"of":3},"absent_because":"no deployment here has bitcoin lent against bitcoin read"},"books":{},"debt_all":{"usd":321434357.9626833,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":321434357.9626833,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":321434357.9626833,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.0004460286483415176,"debt":null},"share_of_market":{"collateral":0.00006127559013016567,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.11324624007262418,"lend":-0.5708553707744262,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0003243808762928636,"debt":null}}},"echelon_market":{"id":"echelon_market","level":"family","name":"Echelon Market","class_id":"algorithmic","children":["echelon_market_aptos"],"single_deployment":true,"metrics":{"collateral":{"btc":6.52966698,"usd":543449.3375856115,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":10185830.63659471,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 2.8% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 75% · contract_read 25% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":6.536252355077709,"weight_usd":10185830.63659471,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.475347679030978,"weight_usd":13048523.192907741,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":10185830.63659471,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":10185830.63659471,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":10185830.63659471,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.000040672469539292355,"debt":null},"share_of_market":{"collateral":0.00000558759977041444,"debt":null},"vs_parent":{"ltv":null,"borrow":1.640662171399506,"lend":0.10283743593276995,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00002957965000501153,"debt":null}}},"etherfi_borrowing":{"id":"etherfi_borrowing","level":"family","name":"EtherFi Borrowing","class_id":"algorithmic","children":["etherfi_borrowing_optimism"],"single_deployment":true,"metrics":{"collateral":{"btc":16.63652547,"usd":1383183.4874984443,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":17844.517180685787,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $3m more is owed in dollars by 300 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 18 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.25923928085713405,"debt_usd":17844.517180685787,"collateral_usd":68834.15631182777,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.009534020258295,"weight_usd":39540981.705630966,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":1.599004722888799,"weight_usd":61321978.54724874,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":30205.391312928296,"debt_usd":17844.517180685787,"headroom_pct":0.6398019083189384,"btc_price_ref":83857.72165521003,"threshold_low":0.7199365315135459,"threshold_high":0.7199365315135459,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it)","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null}},"debt_all":{"usd":17844.517180685787,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":17844.517180685787,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":17844.517180685787,"share":1},{"currency":"btc","basis":"native","native":0,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":0,"share":0}],"limitation":"all debt secured by bitcoin here in 2 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.25923928085713405,"kind":"converted","debt_usd":17844.517180685787,"collateral_usd":68834.15631182777,"parts":[{"currency":"usd","debt_usd":17844.517180685787,"collateral_usd":68834.15631182777}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.00010362681243787357,"debt":0.000003998247720402884},"share_of_market":{"collateral":0.000014236292016329748,"debt":5.366736323921624e-7},"vs_parent":{"ltv":-0.19569602521117213,"borrow":-0.8860561634199078,"lend":-1.773505520209409,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000075364119213023,"debt":0.0000025786530382608507}}},"euler_v2":{"id":"euler_v2","level":"family","name":"Euler v2","class_id":"algorithmic","children":["euler_v2_monad","euler_v2_ethereum","euler_v2_avalanche","euler_v2_base","euler_v2_hyperliquid_l1","euler_v2_arbitrum","euler_v2_bsc","euler_v2_unichain"],"single_deployment":false,"metrics":{"collateral":{"btc":99.79768495683057,"usd":8176573.3723372165,"kind":"partial","coverage":{"in":7,"of":8},"held_by_issuers_btc":null,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":"read for 7 of 8 deployments; part of it is the supplied amount each pool reports, not what is pledged against a loan"},"debt":{"usd":150791951.03340334,"kind":"whole_pool","coverage":{"in":7,"of":8},"excluded":[{"id":"euler_v2_monad","usd":68049869.2289701,"kind":"whole_pool"},{"id":"euler_v2_ethereum","usd":36560812.35023107,"kind":"whole_pool"},{"id":"euler_v2_avalanche","usd":32284731.355817966,"kind":"whole_pool"},{"id":"euler_v2_base","usd":913250.8076880138,"kind":"whole_pool"},{"id":"euler_v2_hyperliquid_l1","usd":334172.0278491011,"kind":"whole_pool"},{"id":"euler_v2_arbitrum","usd":328086.8915562,"kind":"whole_pool"},{"id":"euler_v2_bsc","usd":12321028.37129085,"kind":"whole_pool"}],"limitation":"the pools' whole lending against every collateral they take — not debt against bitcoin, never added to a bitcoin total"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its bitcoin collateral","coverage":{"in":0,"of":8}},"borrow":{"value":9.146476762087747,"weight_usd":150791951.03340334,"low":0.19975152865925525,"high":15.436671834999213,"kind":"partial","coverage":{"in":7,"of":8},"limitation":"weighted by dollar debt for 7 of 8 deployments"},"lend":{"value":7.1988148765905535,"weight_usd":172460358.27794993,"low":0.16907696354448007,"high":13.891711506566212,"kind":"partial","coverage":{"in":7,"of":8},"limitation":"weighted by dollar supply for 7 of 8 deployments"},"liquidation":{"btc_price":null,"kind":"parameter","coverage":{"in":8,"of":8},"threshold_low":0.665,"threshold_high":0.97,"limitation":"the range of the liquidation thresholds set by 8 of 8 deployments; no bitcoin book here is read to turn them into a price"},"btc_book":{"debt_btc":null,"absent_kind":"not_read","coverage":{"in":0,"of":8},"absent_because":"no deployment here has bitcoin lent against bitcoin read"},"books":{},"debt_all":{"usd":150791951.03340334,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":150791951.03340334,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":150791951.03340334,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.0006216271540234945,"debt":null},"share_of_market":{"collateral":0.00008539938150914383,"debt":null},"vs_parent":{"ltv":null,"borrow":4.250886578409545,"lend":3.8263046334923456,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0004520874650078176,"debt":null}}},"exactly":{"id":"exactly","level":"family","name":"Exactly","class_id":"algorithmic","children":["exactly_optimism"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"extra_finance_xlend":{"id":"extra_finance_xlend","level":"family","name":"Extra Finance xLend","class_id":"algorithmic","children":["extra_finance_xlend_base","extra_finance_xlend_optimism"],"single_deployment":false,"metrics":{"collateral":{"btc":null,"usd":null,"absent_kind":"not_read","absent_because":"no deployment here has a collateral read","coverage":{"in":0,"of":2}},"debt":{"usd":382721.56666666665,"kind":"whole_pool","coverage":{"in":1,"of":2},"excluded":[{"id":"extra_finance_xlend_base","usd":382721.56666666665,"kind":"whole_pool"}],"limitation":"the pools' whole lending against every collateral they take — not debt against bitcoin, never added to a bitcoin total"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its bitcoin collateral","coverage":{"in":0,"of":2}},"borrow":{"value":3.454669885489425,"weight_usd":382721.56666666665,"low":3.454669885489425,"high":3.454669885489425,"kind":"partial","coverage":{"in":1,"of":2},"limitation":"weighted by dollar debt for 1 of 2 deployments"},"lend":{"value":1.7296309610118057,"weight_usd":682207.3666666667,"low":1.7296309610118057,"high":1.7296309610118057,"kind":"partial","coverage":{"in":1,"of":2},"limitation":"weighted by dollar supply for 1 of 2 deployments"},"liquidation":{"btc_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold is read for any deployment here","coverage":{"in":0,"of":2}},"btc_book":{"debt_btc":null,"absent_kind":"not_read","coverage":{"in":0,"of":2},"absent_because":"no deployment here has bitcoin lent against bitcoin read"},"books":{},"debt_all":{"usd":382721.56666666665,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":382721.56666666665,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":382721.56666666665,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.4409202981887779,"lend":-1.6428792820864022,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"felix_cdp":{"id":"felix_cdp","level":"family","name":"Felix CDP","class_id":"minted","children":["felix_cdp_hyperliquid_l1"],"single_deployment":true,"metrics":{"collateral":{"btc":21.031700007073397,"usd":1738157.0323063652,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":450859.2260592382,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 1 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.2593892368061773,"debt_usd":450859.2260592382,"collateral_usd":1738157.0323063652,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 1 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":4.9711169305543725,"weight_usd":9785462.483985914,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold (LLTV) is ingested for this venue's bitcoin markets","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":450859.2260592382,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":450859.2260592382,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":450859.2260592382,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.2593892368061773,"kind":"converted","debt_usd":450859.2260592382,"collateral_usd":1738157.0323063652,"parts":[{"currency":"usd","debt_usd":450859.2260592382,"collateral_usd":1738157.0323063652}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.014910202329271056,"debt":0.012120174215132612},"share_of_market":{"collateral":0.00001799735307955149,"debt":0.000013559585619308499},"vs_parent":{"ltv":-0.17017239846169846,"borrow":-2.7002290631040173,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.00009527443392214615,"debt":0.00006515219780583102}}},"fira":{"id":"fira","level":"family","name":"Fira","class_id":"algorithmic","children":["fira_ethereum"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"fluid_lending":{"id":"fluid_lending","level":"family","name":"Fluid Lending","class_id":"algorithmic","children":["fluid_lending_ethereum","fluid_lending_arbitrum","fluid_lending_base","fluid_lending_polygon"],"single_deployment":false,"metrics":{"collateral":{"btc":808.2312968259852,"usd":66060365.65969791,"kind":"partial","coverage":{"in":4,"of":4},"held_by_issuers_btc":null,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":"part of it is the supplied amount each pool reports, not what is pledged against a loan"},"debt":{"usd":28898114.527591787,"low":null,"high":null,"kind":"exact","coverage":{"in":4,"of":4},"excluded":[],"limitation":null,"filed_by_issuers_usd":null},"ltv":{"value":0.45057193737706414,"debt_usd":28898114.527591787,"collateral_usd":64136516.57006816,"kind":"exact","coverage":{"in":4,"of":4},"limitation":null},"borrow":{"value":6.199967322884887,"weight_usd":281677291.1818587,"low":3.7180950818659966,"high":6.360343094743443,"kind":"exact","coverage":{"in":4,"of":4},"limitation":null},"lend":{"value":null,"absent_kind":"not_read","absent_because":"no lend rate is read for any deployment here","coverage":{"in":0,"of":4}},"liquidation":{"btc_price":41834.42081637996,"debt_usd":28898114.527591787,"headroom_pct":0.49504262500969914,"btc_price_ref":82847.43007701098,"kind":"partial","coverage":{"in":4,"of":4},"threshold_low":0.77,"threshold_high":0.97,"limitation":"the priced books of 4 of 4 deployments taken as one position — an aggregate, not a forecast"},"btc_book":{"debt_btc":null,"absent_kind":"not_read","coverage":{"in":0,"of":4},"absent_because":"no deployment here has bitcoin lent against bitcoin read"},"books":{"eth":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":429365.4570739966,"coverage":{"in":3,"of":4},"limitation":"ETH lent against bitcoin at 3 of 4 deployments, observed only as the venues' own USD valuation ($429,365); never turned into ETH or added to the book read in it"}},"eur":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":596843.2403851029,"coverage":{"in":1,"of":4},"limitation":"EUR lent against bitcoin at 1 of 4 deployments, observed only as the venues' own USD valuation ($596,843); never turned into EUR or added to the book read in it"}}},"debt_all":{"usd":29924323.22505089,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":28898114.527591787,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":28898114.527591787,"share":0.9657065361264371},{"currency":"eth","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":429365.4570739966,"share":0.014348376531187746},{"currency":"eur","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":596843.2403851029,"share":0.019945087342375073}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.45057193737706414,"kind":"converted","debt_usd":28898114.527591787,"collateral_usd":64136516.57006816,"parts":[{"currency":"usd","debt_usd":28898114.527591787,"collateral_usd":64136516.57006816}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.005034370497231337,"debt":0.00647491996359214},"share_of_market":{"collateral":0.0006916237876172116,"debt":0.00086911043519819},"vs_parent":{"ltv":-0.004363368691242042,"borrow":1.304377139206684,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0036613197819177646,"debt":0.004175972376951741}}},"folks_finance_lending":{"id":"folks_finance_lending","level":"family","name":"Folks Finance Lending","class_id":"algorithmic","children":["folks_finance_lending_algorand"],"single_deployment":true,"metrics":{"collateral":{"btc":0.21686694,"usd":18044.946796433716,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":3753889.0918923332,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 0.0% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 77% · contract_read 23% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":11.023612070119027,"weight_usd":3753889.0918923332,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":7.263632453356762,"weight_usd":4443888.950099333,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":3753889.0918923332,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":3753889.0918923332,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":3753889.0918923332,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.0000013508367330594772,"debt":null},"share_of_market":{"collateral":1.8557847863697363e-7,"debt":null},"vs_parent":{"ltv":null,"borrow":6.128021886440824,"lend":3.8911222102585543,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":9.824158264894905e-7,"debt":null}}},"folks_finance_xchain":{"id":"folks_finance_xchain","level":"family","name":"Folks Finance xChain","class_id":"algorithmic","children":["folks_finance_xchain_avalanche","folks_finance_xchain_base","folks_finance_xchain_ethereum","folks_finance_xchain_monad"],"single_deployment":false,"metrics":{"collateral":{"btc":null,"usd":null,"absent_kind":"not_read","absent_because":"no deployment here has a collateral read","coverage":{"in":0,"of":4}},"debt":{"usd":null,"absent_kind":"not_read","excluded":[],"coverage":{"in":0,"of":4},"absent_because":"no deployment here has debt against bitcoin read"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its bitcoin collateral","coverage":{"in":0,"of":4}},"borrow":{"value":null,"absent_kind":"not_read","absent_because":"no borrow rate is read for any deployment here","coverage":{"in":0,"of":4}},"lend":{"value":null,"absent_kind":"not_read","absent_because":"no lend rate is read for any deployment here","coverage":{"in":0,"of":4}},"liquidation":{"btc_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold is read for any deployment here","coverage":{"in":0,"of":4}},"btc_book":{"debt_btc":null,"absent_kind":"not_read","coverage":{"in":0,"of":4},"absent_because":"no deployment here has bitcoin lent against bitcoin read"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"frankencoin":{"id":"frankencoin","level":"family","name":"Frankencoin","class_id":"minted","children":["frankencoin_ethereum"],"single_deployment":true,"metrics":{"collateral":{"btc":361.19997252999997,"usd":29522492.33023946,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this venue's debt is outside USD: ≈$16m borrowed in CHF against bitcoin (30-day mean) — shown separately, not in the BTC-USD figures","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"collateral is read here and the debt against it is not, so there is no numerator — an LTV of zero would be false","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold (LLTV) is ingested for this venue's bitcoin markets","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{"chf":{"debt":13163835.229080327,"collateral_btc":361.19997252999997,"ltv":null,"borrow_rate":null,"asset":"ZCHF","kind":"exact","limitation":"CHF lent against bitcoin in 2 market(s), in the loan asset's own units (ZCHF); a separate book, never added to another currency; its rate covers 0 of the 2 markets; its LTV converts both sides at the day's rates in /v1/market/tree (no price is applied here)","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":13163835.229080327,"ltv_collateral_btc":361.19997252999997,"venue_priced":null,"ltv_kind":null,"ltv_absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"share_of_parent":{"collateral":0.2560689183441267,"debt":null},"share_of_market":{"collateral":0.00030908787381716206,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.0016362501796771845,"debt":null}}},"fraxlend":{"id":"fraxlend","level":"family","name":"Fraxlend","class_id":"algorithmic","children":["fraxlend_ethereum"],"single_deployment":true,"metrics":{"collateral":{"btc":4.04714842,"usd":335028.8427152318,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":0.43920274627005423,"debt_usd":null,"collateral_usd":null,"kind":"exact","limitation":"frxUSD borrow","absent_kind":null,"absent_because":null,"observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.000025209175496641513,"debt":null},"share_of_market":{"collateral":0.000003463246387861753,"debt":null},"vs_parent":{"ltv":-0.015732559798251944,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000018333742616370828,"debt":null}}},"gavel":{"id":"gavel","level":"family","name":"The Gavel Protocol","class_id":"auction","children":["gavel_arbitrum"],"single_deployment":true,"metrics":{"collateral":{"btc":0.45553529,"usd":37739.92808588592,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":16950.187962,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"ltv":{"value":0.4491314324559902,"debt_usd":16950.187962,"collateral_usd":37739.92808588592,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":null,"basis":"total BTC-collateral debt over total BTC collateral value, both from the same contract-state read","markets":{"in":20,"of":20}},"borrow":{"value":5.489079305555537,"weight_usd":16950.187962,"low":null,"high":null,"kind":"exact","limitation":"30-day mean, debt-weighted over the venue's dollar loans","absent_kind":null,"absent_because":null,"observer":"the Gavel curve (yield_curve_snapshots)","as_of":"2026-10-13"},"lend":{"value":5.489079305555537,"weight_usd":16950.187962,"low":null,"high":null,"kind":"exact","limitation":"one rate is both legs: the auction clears it","absent_kind":null,"absent_because":null,"observer":"the Gavel curve (yield_curve_snapshots)","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the auction has no liquidation and no price oracle: a loan is repaid by maturity, or the lender claims the escrowed collateral","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":16950.187962,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":16950.187962,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":16950.187962,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.4491314324559902,"kind":"converted","debt_usd":16950.187962,"collateral_usd":37739.92808588592,"parts":[{"currency":"usd","debt_usd":16950.187962,"collateral_usd":37739.92808588592}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":1,"debt":1},"share_of_market":{"collateral":3.898129704954226e-7,"debt":5.097766922571814e-7},"vs_parent":{"ltv":0,"borrow":0,"lend":0,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"auction","name":"Auction"}},"secured_view":{"share_of_market":{"collateral":0.000002063592903650873,"debt":0.000002449416436697562}}},"gearbox":{"id":"gearbox","level":"family","name":"Gearbox","class_id":"algorithmic","children":["gearbox_ethereum"],"single_deployment":true,"metrics":{"collateral":{"btc":5.27107249,"usd":435701.7582619346,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":0,"weight_usd":492241.17265753343,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00003283284368798344,"debt":null},"share_of_market":{"collateral":0.000004510588905249479,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":-3.372510243098208,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00002387816712288819,"debt":null}}},"hyperlend_pooled":{"id":"hyperlend_pooled","level":"family","name":"HyperLend Pooled","class_id":"algorithmic","children":["hyperlend_pooled_hyperliquid_l1"],"single_deployment":true,"metrics":{"collateral":{"btc":146.07908691,"usd":12118834.99356738,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1422360.276382249,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $11m more is owed in dollars by 509 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 91 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.2507277839324441,"debt_usd":1488236.4466319901,"collateral_usd":5935666.2564089,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":6.086074980279449,"weight_usd":66519387.28167634,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":4.491361226921131,"weight_usd":78697179.97670294,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":32020.248913806503,"debt_usd":1488236.4466319901,"headroom_pct":0.617210693703912,"btc_price_ref":83649.79999999999,"threshold_low":0.6550038480040353,"threshold_high":0.6550038480040353,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $86,833 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.07085586,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.07085586,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":59949.09173191306,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":1488100.7350645813,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1422360.276382249,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1422360.276382249,"share":0.9558225749552639},{"currency":"btc","basis":"native","native":0.07085586,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":5791.366950419079,"share":0.0038917842145731775},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":59949.09173191306,"share":0.04028564083016286}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.2507277839324441,"kind":"converted","debt_usd":1488236.4466319901,"collateral_usd":5935666.2564089,"parts":[{"currency":"usd","debt_usd":1488236.4466319901,"collateral_usd":5935666.2564089}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0009099081516519569,"debt":0.00031869445808218764},"share_of_market":{"collateral":0.00012500353769659888,"debt":0.00004277746763149158},"vs_parent":{"ltv":-0.20420752213586207,"borrow":1.190484796601246,"lend":1.1188509838229233,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0006617440486757352,"debt":0.0002055406493241793}}},"hypurrfi_pooled":{"id":"hypurrfi_pooled","level":"family","name":"HypurrFi Pooled","class_id":"algorithmic","children":["hypurrfi_pooled_hyperliquid_l1"],"single_deployment":true,"metrics":{"collateral":{"btc":1.27788231,"usd":105715.74061988808,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":1.2430899741914903,"weight_usd":333246.7217971576,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.000007959767241954436,"debt":null},"share_of_market":{"collateral":0.0000010935159363935393,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":-2.129420268906718,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000005788857470552908,"debt":null}}},"inverse_finance_firm":{"id":"inverse_finance_firm","level":"family","name":"Inverse Finance FiRM","class_id":"algorithmic","children":["inverse_finance_firm_ethereum"],"single_deployment":true,"metrics":{"collateral":{"btc":9.00684756,"usd":741703.942538772,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":0.32018299074540557,"debt_usd":null,"collateral_usd":null,"kind":"exact","limitation":"Fixed Borrow Rate","absent_kind":null,"absent_because":null,"observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00005610251397984001,"debt":null},"share_of_market":{"collateral":0.000007707385309627821,"debt":null},"vs_parent":{"ltv":-0.1347523153229006,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0000408013761328594,"debt":null}}},"jupiter_lend":{"id":"jupiter_lend","level":"family","name":"Jupiter Lend","class_id":"algorithmic","children":["jupiter_lend_solana"],"single_deployment":true,"metrics":{"collateral":{"btc":283.2685677316828,"usd":23474314.660945058,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":11336417.045627665,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 12 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.5322037699386927,"debt_usd":11336417.045627665,"collateral_usd":21300895.795859482,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 12 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":5.231463725395866,"weight_usd":396098457.6689396,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":4.702259465066664,"weight_usd":179101968.30811137,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":53770.38367892376,"debt_usd":11336417.045627665,"headroom_pct":0.3509710122698869,"btc_price_ref":82847.43007701098,"threshold_low":0.8,"threshold_high":0.9,"kind":"derived","limitation":"the markets taken together at one threshold (they run 80%–90%, which puts it between $48,991 and $55,115); debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/jupiter.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"the venue's API reports this book in dollars only, and a bitcoin amount is never derived from a dollar one"},"books":{"btc":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":297420.62560562324,"limitation":"BTC lent against bitcoin (cbBTC), observed only as the venue's own USD valuation (contract_read); a BTC amount is never derived from it"}},"eur":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":716561.9916864933,"limitation":"EUR lent against bitcoin (EURC), observed only as the venue's own USD valuation (contract_read); a EUR amount is never derived from it"}},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":104299.40782750041,"limitation":"debt against bitcoin in a loan asset not held as pegged to any currency (JupUSD,WSOL), as the venue's own USD valuation"}}},"debt_all":{"usd":12454699.070747282,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":11336417.045627665,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":11336417.045627665,"share":0.9102120397476194},{"currency":"btc","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":297420.62560562324,"share":0.023880193645479865},{"currency":"eur","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":716561.9916864933,"share":0.057533464888726495},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":104299.40782750041,"share":0.008374301718174106}],"limitation":"all debt secured by bitcoin here in 4 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.5322037699386927,"kind":"converted","debt_usd":11336417.045627665,"collateral_usd":21300895.795859482,"parts":[{"currency":"usd","debt_usd":11336417.045627665,"collateral_usd":21300895.795859482}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0017644440716187708,"debt":0.0025400409073144383},"share_of_market":{"collateral":0.00024240001655079476,"debt":0.00034094260172948043},"vs_parent":{"ltv":0.0772684638703865,"borrow":0.33587354171766304,"lend":1.3297492219684561,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0012832178297282905,"debt":0.001638188691893564}}},"justlend_v1":{"id":"justlend_v1","level":"family","name":"JustLend v1","class_id":"algorithmic","children":["justlend_v1_tron"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read","observer":null},"debt":{"usd":138341341.06499472,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (no bitcoin in the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":3.7669337511086938,"weight_usd":138341341.06499472,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":0.7440690323899224,"weight_usd":635855766.4006991,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.75,"threshold_high":0.75,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/comptroller_forks.json, as read on 2026-10-01","basis":"collateral factor (a shortfall is liquidated at it)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":138341341.06499472,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":138341341.06499472,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":138341341.06499472,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.128656432569509,"lend":-2.6284412107082855,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"kamino_lend":{"id":"kamino_lend","level":"family","name":"Kamino Lend","class_id":"algorithmic","children":["kamino_lend_solana"],"single_deployment":true,"metrics":{"collateral":{"btc":1020.5064830539894,"usd":84512981.42918707,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":711062744.4071445,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 3.7% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 78% · contract_read 22% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":5.672267348172345,"weight_usd":711062744.4071445,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.454891214091536,"weight_usd":1019676201.8164171,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":711062744.4071445,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":711062744.4071445,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":711062744.4071445,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.006356605776955528,"debt":null},"share_of_market":{"collateral":0.0008732729874102889,"debt":null},"vs_parent":{"ltv":null,"borrow":0.7766771644941421,"lend":0.08238097099332808,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0046229347819790705,"debt":null}}},"kava_mint":{"id":"kava_mint","level":"family","name":"Kava Mint","class_id":"algorithmic","children":["kava_mint_kava"],"single_deployment":true,"metrics":{"collateral":{"btc":61.33319748,"usd":5144859.8307769,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"collateral is read here and the debt against it is not, so there is no numerator — an LTV of zero would be false. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold (LLTV) is ingested for this venue's bitcoin markets. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00038203672773717823,"debt":null},"share_of_market":{"collateral":0.000052484355053285046,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0002778418134804564,"debt":null}}},"kinza_finance":{"id":"kinza_finance","level":"family","name":"Kinza Finance","class_id":"algorithmic","children":["kinza_finance_bsc"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":824607.3333333334,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (no bitcoin in the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":3.378726210016727,"weight_usd":824607.3333333334,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":1.9411479512048144,"weight_usd":1215936.9,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":824607.3333333334,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":824607.3333333334,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":824607.3333333334,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.5168639736614757,"lend":-1.4313622918933935,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"layerbank":{"id":"layerbank","level":"family","name":"LayerBank","class_id":"algorithmic","children":["layerbank_move"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"liquidium":{"id":"liquidium","level":"family","name":"Liquidium","class_id":"algorithmic","children":["liquidium_icp"],"single_deployment":true,"metrics":{"collateral":{"btc":22.25686737,"usd":1853082.072103419,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1231044.8032326335,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 50.7% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 96% · contract_read 4% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":3.883585120480323,"weight_usd":1231044.8032326333,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.309844394502613,"weight_usd":1893802.2395931245,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":1231044.8032326335,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1231044.8032326335,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1231044.8032326335,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.0001386352110940878,"debt":null},"share_of_market":{"collateral":0.000019045759513872884,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.0120050631978796,"lend":-1.062665848595595,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00010082449059485747,"debt":null}}},"liquity_forks":{"id":"liquity_forks","level":"family","name":"Threshold USD","class_id":"minted","children":["liquity_forks_ethereum"],"single_deployment":true,"metrics":{"collateral":{"btc":26.764132046500233,"usd":2187552.445073048,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":537702.4956891361,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 1 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.24580096212101593,"debt_usd":537702.4956891361,"collateral_usd":2187552.445073048,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 1 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold (LLTV) is ingested for this venue's bitcoin markets","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":537702.4956891361,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":537702.4956891361,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":537702.4956891361,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.24580096212101593,"kind":"converted","debt_usd":537702.4956891361,"collateral_usd":2187552.445073048,"parts":[{"currency":"usd","debt_usd":537702.4956891361,"collateral_usd":2187552.445073048}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.018974149681025985,"debt":0.014454728986310351},"share_of_market":{"collateral":0.000022902738920135012,"debt":0.00001617139587391905},"vs_parent":{"ltv":-0.18376067314685984,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.00012124257807453909,"debt":0.00007770163575453747}}},"lista_cdp":{"id":"lista_cdp","level":"family","name":"Lista CDP","class_id":"algorithmic","children":["lista_cdp_bsc"],"single_deployment":true,"metrics":{"collateral":{"btc":23.710235092484844,"usd":1959848.7472787972,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":795183.1869001879,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 1 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.4057370182287182,"debt_usd":795183.1869001879,"collateral_usd":1959848.7472787972,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 1 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":4.1988979363008285,"weight_usd":2241303.016284427,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold (LLTV) is ingested for this venue's bitcoin markets. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":795183.1869001879,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":795183.1869001879,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":795183.1869001879,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.4057370182287182,"kind":"converted","debt_usd":795183.1869001879,"collateral_usd":1959848.7472787972,"parts":[{"currency":"usd","debt_usd":795183.1869001879,"collateral_usd":1959848.7472787972}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.00014768805476945632,"debt":0.00017816897661807125},"share_of_market":{"collateral":0.000020289442718140077,"debt":0.000023915124461467717},"vs_parent":{"ltv":-0.04919828783958796,"borrow":-0.6966922473773742,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0001074083039334793,"debt":0.00011490933153929761}}},"maple":{"id":"maple","level":"family","name":"Maple Institutional Secured Lending","class_id":"posted-card","children":["maple_ethereum"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this lender negotiates terms per borrower and publishes no card, so there is no posted price to read","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"moonwell_lending":{"id":"moonwell_lending","level":"family","name":"Moonwell Lending","class_id":"algorithmic","children":["moonwell_lending_base","moonwell_lending_moonbeam"],"single_deployment":false,"metrics":{"collateral":{"btc":115.13610055425025,"usd":9536284.292680593,"kind":"partial","coverage":{"in":2,"of":2},"held_by_issuers_btc":null,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":"part of it is the supplied amount each pool reports, not what is pledged against a loan"},"debt":{"usd":1036702.2888739998,"low":null,"high":null,"kind":"partial","coverage":{"in":1,"of":2},"excluded":[],"limitation":"debt against bitcoin read for 1 of 2 deployments; part of it is partial (bitcoin-only borrowers in a pool, or a desk's bounded estimate)","filed_by_issuers_usd":null},"ltv":{"value":0.8948178864844856,"debt_usd":2425717.4959240016,"collateral_usd":2710850.4786980012,"kind":"partial","coverage":{"in":1,"of":2},"limitation":"both sides read for 1 of 2 deployments"},"borrow":{"value":16.197515082585255,"weight_usd":8286114.485042933,"low":16.197515082585255,"high":16.197515082585255,"kind":"partial","coverage":{"in":1,"of":2},"limitation":"weighted by dollar debt for 1 of 2 deployments"},"lend":{"value":14.694085270433408,"weight_usd":8286114.490826833,"low":14.694085270433408,"high":14.694085270433408,"kind":"partial","coverage":{"in":1,"of":2},"limitation":"weighted by dollar supply for 1 of 2 deployments"},"liquidation":{"btc_price":88665.45802858625,"debt_usd":2425717.4959240016,"headroom_pct":-0.07022581082077144,"btc_price_ref":82847.43007701098,"kind":"partial","coverage":{"in":1,"of":2},"threshold_low":0.8479351363227152,"threshold_high":0.8479351363227152,"limitation":"the priced books of 1 of 2 deployments taken as one position — an aggregate, not a forecast"},"btc_book":{"debt_btc":1.9009335228526383,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"partial","coverage":{"in":1,"of":2},"limitation":"bitcoin lent against bitcoin, read for 1 of 2 deployments, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 0 carrying both sides; its rate covers the 0 with a rate read, 0.00 of the 1.90 owed"},"books":{"btc":{"debt":1.9009335228526383,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","coverage":{"in":1,"of":2},"limitation":"bitcoin lent against bitcoin, read for 1 of 2 deployments, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures; its LTV covers the 0 carrying both sides; its rate covers the 0 with a rate read, 0.00 of the 1.90 owed","lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"lend_coverage":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":1230240.0120230017,"coverage":{"in":1,"of":2},"limitation":"debt against bitcoin in loan currencies the reads do not split, at 1 of 2 deployments, as the venues' own USD valuation ($1.2m)"}}},"debt_all":{"usd":2422314.1160043543,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1036702.2888739998,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1036702.2888739998,"share":0.4279801211677934},{"currency":"btc","basis":"native","native":1.9009335228526383,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":155371.81510735286,"share":0.06414189393555661},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1230240.0120230017,"share":0.50787798489665}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.8948178864844856,"kind":"converted","debt_usd":2425717.4959240016,"collateral_usd":2710850.4786980012,"parts":[{"currency":"usd","debt_usd":2425717.4959240016,"collateral_usd":2710850.4786980012}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0007171682042911237,"debt":0.00023228381699860737},"share_of_market":{"collateral":0.00009852484835656083,"debt":0.00003117880845111755},"vs_parent":{"ltv":0.4398825804161794,"borrow":11.301924898907053,"lend":11.3215750273352,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0005215710950907539,"debt":0.00014981047006810524}}},"morpho_blue":{"id":"morpho_blue","level":"family","name":"Morpho Blue","class_id":"algorithmic","children":["morpho_blue_base","morpho_blue_ethereum","morpho_blue_katana","morpho_blue_arbitrum","morpho_blue_hyperliquid_l1","morpho_blue_polygon","morpho_blue_optimism","morpho_blue_tempo","morpho_blue_monad","morpho_blue_unichain"],"single_deployment":false,"metrics":{"collateral":{"btc":62110.81942661737,"usd":5145698311.032873,"kind":"partial","coverage":{"in":10,"of":10},"held_by_issuers_btc":null,"estimated_btc":null,"price_derived_btc":null,"low":null,"high":null,"limitation":"part of it is the supplied amount each pool reports, not what is pledged against a loan"},"debt":{"usd":2501076909.9007263,"low":null,"high":null,"kind":"exact","coverage":{"in":10,"of":10},"excluded":[],"limitation":null,"filed_by_issuers_usd":null},"ltv":{"value":0.49150774622401455,"debt_usd":2501076909.9007263,"collateral_usd":5088580859.844293,"kind":"exact","coverage":{"in":10,"of":10},"limitation":null,"markets":{"in":20,"of":21}},"borrow":{"value":4.908385740685249,"weight_usd":2588247485.0658293,"low":2.5963805610451574,"high":10.260809291229707,"kind":"partial","coverage":{"in":9,"of":10},"limitation":"weighted by dollar debt for 9 of 10 deployments","markets":{"in":27,"of":27,"weight_in_usd":2499777153.819868,"weight_of_usd":2499777153.819868}},"lend":{"value":4.309125654093465,"weight_usd":2786699451.9918523,"low":2.7916854216299183,"high":6.617077636694396,"kind":"partial","coverage":{"in":6,"of":10},"limitation":"weighted by dollar supply for 6 of 10 deployments","markets":{"in":27,"of":27,"weight_in_usd":2786699451.9918523,"weight_of_usd":2786699451.9918523}},"liquidation":{"btc_price":48075.544550353334,"debt_usd":2500816356.5130157,"headroom_pct":0.4197098871302994,"btc_price_ref":82847.43007701098,"kind":"partial","coverage":{"in":10,"of":10},"threshold_low":0.77,"threshold_high":0.945,"limitation":"the priced books of 10 of 10 deployments taken as one position — an aggregate, not a forecast","markets":{"in":27,"of":27,"weight_in_usd":2499777153.819868,"weight_of_usd":2499777153.819868}},"btc_book":{"debt_btc":16.754247919999997,"collateral_btc":19.65461149,"ltv":0.852433431641441,"borrow_rate":0.13242957311912204,"denomination_asset":"mixed","kind":"partial","coverage":{"in":2,"of":10},"limitation":"bitcoin lent against bitcoin, read for 2 of 10 deployments, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures"},"books":{"btc":{"debt":16.754247919999997,"collateral_btc":19.65461149,"ltv":0.852433431641441,"borrow_rate":0.13242957311912204,"asset":"mixed","kind":"partial","coverage":{"in":2,"of":10},"limitation":"bitcoin lent against bitcoin, read for 2 of 10 deployments, in wrapper units — a wrapper is not BTC; a separate book, never added to the dollar figures","lend_rate":0.0898483196446295,"lend_weight_usd":2018390.8432764173,"lend_coverage":{"in":2,"of":2},"liquidation":{"btc_price":null,"threshold_low":0.915,"threshold_high":0.945,"debt":16.754247919999997,"lt_units":18.369889475249998,"kind":"parameter","coverage":{"in":2,"of":2},"limitation":"bitcoin lent against bitcoin has no bitcoin price at which it liquidates: the thresholds are ratios between wrappers"},"ltv_debt":16.754247919999997,"ltv_collateral_btc":19.65461149,"venue_priced":null},"eth":{"debt":110.4279125097407,"collateral_btc":5.91142573,"ltv":0.5607355709085469,"borrow_rate":1.7469894418848002,"asset":"WETH","kind":"partial","coverage":{"in":1,"of":10},"limitation":"ETH lent against bitcoin, read in its own units for 1 of 10 deployments, in wrapper units — a wrapper is not ETH; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read","lend_rate":1.5754039777555358,"lend_weight_usd":300437.4013991646,"lend_coverage":{"in":1,"of":1},"liquidation":{"btc_price":20.415759021985455,"threshold_low":0.915,"threshold_high":0.915,"debt":110.4279125097407,"lt_units":5.408954542950001,"kind":"derived","coverage":{"in":1,"of":1},"limitation":"the books of 1 of 1 taken as one position, Σ debt / Σ (LLTV × bitcoin), in ETH per bitcoin — the venues' own thresholds, no conversion"},"ltv_debt":110.4279125097407,"ltv_collateral_btc":5.91142573,"venue_priced":null,"ltv_kind":"converted","ltv_rates":{"ETH":{"series_id":"price.eth_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd_per_unit":2453.447628054114},"BTC":{"series_id":"price.btc_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd_per_unit":81734.48110599573}}},"eur":{"debt":25733378.756433867,"collateral_btc":663.86332873,"ltv":null,"borrow_rate":2.270235931089128,"asset":"mixed","kind":"partial","coverage":{"in":2,"of":10},"limitation":"EUR lent against bitcoin, read in its own units for 2 of 10 deployments; a separate book, never added to another currency; its LTV converts both sides at the day's rates (ltv_rates), over the lending books with collateral read","lend_rate":2.0386281914365023,"lend_weight_usd":32041322.045508437,"lend_coverage":{"in":2,"of":2},"liquidation":{"btc_price":45073.333836584905,"threshold_low":0.86,"threshold_high":0.86,"debt":25733378.756433867,"lt_units":570.9224627078,"kind":"derived","coverage":{"in":2,"of":2},"limitation":"the books of 2 of 2 taken as one position, Σ debt / Σ (LLTV × bitcoin), in EUR per bitcoin — the venues' own thresholds, no conversion"},"ltv_debt":25733378.756433867,"ltv_collateral_btc":663.86332873,"venue_priced":null,"ltv_kind":null,"ltv_absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"share_of_parent":{"collateral":0.3868804364644003,"debt":0.5603920213871856},"share_of_market":{"collateral":0.05314978565237946,"debt":0.07521985697553085},"vs_parent":{"ltv":0.036572440155708374,"borrow":0.012795557007046376,"lend":0.9366154109952567,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.28136447169374823,"debt":0.36142247544921857}}},"navi_lending":{"id":"navi_lending","level":"family","name":"NAVI Lending","class_id":"algorithmic","children":["navi_lending_sui"],"single_deployment":true,"metrics":{"collateral":{"btc":630.1765947098486,"usd":51519021.964075185,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":32811876.326048035,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 22.7% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 76% · contract_read 24% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":6.995471796681981,"weight_usd":32811876.326048035,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.9945589478317247,"weight_usd":62253436.667931825,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.45,"threshold_high":0.77,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/sui.json, as read on 2026-10-01","basis":"reserve liquidation threshold"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":32811876.326048035,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":32811876.326048035,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":32811876.326048035,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.003925290283749096,"debt":null},"share_of_market":{"collateral":0.0005392579141794614,"debt":null},"vs_parent":{"ltv":null,"borrow":2.0998816130037783,"lend":-0.3779512952664832,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0028547249300709854,"debt":null}}},"neverland":{"id":"neverland","level":"family","name":"Neverland","class_id":"algorithmic","children":["neverland_monad"],"single_deployment":true,"metrics":{"collateral":{"btc":7.77065918,"usd":643565.753009084,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":5840363.270279217,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 4.1% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 61% · contract_read 39% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":6.854302976978248,"weight_usd":5840363.270279217,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.547191633132062,"weight_usd":7805005.792864706,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.75,"threshold_high":0.75,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/aave_forks.json, as read on 2026-10-01","basis":"reserve liquidation threshold (outside e-mode)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":5840363.270279217,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":5840363.270279217,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":5840363.270279217,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00004840245295308651,"debt":null},"share_of_market":{"collateral":0.000006649547914637579,"debt":null},"vs_parent":{"ltv":null,"borrow":1.9587127933000454,"lend":0.1746813900338542,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00003520139381635507,"debt":null}}},"save":{"id":"save","level":"family","name":"Save","class_id":"algorithmic","children":["save_solana"],"single_deployment":true,"metrics":{"collateral":{"btc":31.753522987380855,"usd":2629507.0428301645,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":20510650.416574936,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 2.2% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 90% · contract_read 10% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":5.004995207405373,"weight_usd":20510650.416574936,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.963742403714154,"weight_usd":28458939.46338342,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.75,"threshold_high":0.95,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/save.json, as read on 2026-10-01","basis":"reserve liquidation threshold"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":20510650.416574936,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":20510650.416574936,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":20510650.416574936,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00019778867749691383,"debt":null},"share_of_market":{"collateral":0.000027172285860455766,"debt":null},"vs_parent":{"ltv":null,"borrow":0.1094050237271702,"lend":-0.4087678393840539,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0001438447166248613,"debt":null}}},"scallop_lend":{"id":"scallop_lend","level":"family","name":"Scallop Lend","class_id":"algorithmic","children":["scallop_lend_sui"],"single_deployment":true,"metrics":{"collateral":{"btc":1.32079406,"usd":107975.70400926366,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":858331.424622657,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 2.0% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 96% · contract_read 4% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":7.569497782597737,"weight_usd":858331.424622657,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.3416310494759447,"weight_usd":1589221.727166423,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":858331.424622657,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":858331.424622657,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":858331.424622657,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00000822705910386693,"debt":null},"share_of_market":{"collateral":0.0000011302365969084623,"debt":null},"vs_parent":{"ltv":null,"borrow":2.6739075989195342,"lend":-0.030879193622263212,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000005983249397429178,"debt":null}}},"silo_v2":{"id":"silo_v2","level":"family","name":"Silo v2","class_id":"algorithmic","children":["silo_v2_avalanche","silo_v2_sonic"],"single_deployment":false,"metrics":{"collateral":{"btc":null,"usd":null,"absent_kind":"not_read","absent_because":"no deployment here has a collateral read","coverage":{"in":0,"of":2}},"debt":{"usd":null,"absent_kind":"not_read","excluded":[],"coverage":{"in":0,"of":2},"absent_because":"no deployment here has debt against bitcoin read"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its bitcoin collateral","coverage":{"in":0,"of":2}},"borrow":{"value":null,"absent_kind":"not_read","absent_because":"no borrow rate is read for any deployment here","coverage":{"in":0,"of":2}},"lend":{"value":null,"absent_kind":"not_read","absent_because":"no lend rate is read for any deployment here","coverage":{"in":0,"of":2}},"liquidation":{"btc_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold is read for any deployment here","coverage":{"in":0,"of":2}},"btc_book":{"debt_btc":null,"absent_kind":"not_read","coverage":{"in":0,"of":2},"absent_because":"no deployment here has bitcoin lent against bitcoin read"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"sky":{"id":"sky","level":"family","name":"Sky","class_id":"minted","children":["sky_ethereum"],"single_deployment":true,"metrics":{"collateral":{"btc":132.23029474002035,"usd":10954940.09753639,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":2199360.002192542,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"ltv":{"value":0.2007642198506541,"debt_usd":2199360.002192542,"collateral_usd":10954940.09753639,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":null,"basis":"total BTC-collateral debt over total BTC collateral value, both from the same contract-state read","markets":{"in":3,"of":3}},"borrow":{"value":8.282342400181678,"weight_usd":548273611.0247033,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold (LLTV) is ingested for this venue's bitcoin markets","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":2199360.002192542,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":2199360.002192542,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2199360.002192542,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.2007642198506541,"kind":"converted","debt_usd":2199360.002192542,"collateral_usd":10954940.09753639,"parts":[{"currency":"usd","debt_usd":2199360.002192542,"collateral_usd":10954940.09753639}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.09374327553025986,"debt":0.05912405657384873},"share_of_market":{"collateral":0.00011315277896931451,"debt":0.00006614572472671092},"vs_parent":{"ltv":-0.22879741541722168,"borrow":0.610996406523288,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.0005990084717106537,"debt":0.00031782234814521507}}},"spark":{"id":"spark","level":"family","name":"SparkLend","class_id":"algorithmic","children":["spark_ethereum"],"single_deployment":true,"metrics":{"collateral":{"btc":8720.06529285,"usd":721292262.7188305,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":258077616.92225552,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $195m more is owed in dollars by 161 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 170 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.4677190060939462,"debt_usd":258267913.00445548,"collateral_usd":552186055.38681,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.102359717793989,"weight_usd":1490701555.31482,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.6151025417448444,"weight_usd":2110809684.013298,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":49120.24686909276,"debt_usd":258267913.00445548,"headroom_pct":0.41068737268702155,"btc_price_ref":83351.76372015096,"threshold_low":0.797704391327615,"threshold_high":0.797704391327615,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $13m of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.00017043543777645498,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.00017043543777645498,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":190281.87191015095,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":258267912.72461775,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":258077616.92225552,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":258077616.92225552,"share":0.9992631844956863},{"currency":"btc","basis":"native","native":0.00017043543777645498,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":13.930452068731771,"share":5.3937989902699744e-8},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":190281.87191015095,"share":0.0007367615663237346}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.4677190060939462,"kind":"converted","debt_usd":258267913.00445548,"collateral_usd":552186055.38681,"parts":[{"currency":"usd","debt_usd":258267913.00445548,"collateral_usd":552186055.38681}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.05431618351906855,"debt":0.05782494606596923},"share_of_market":{"collateral":0.007461978532376483,"debt":0.007761681120893012},"vs_parent":{"ltv":0.012783700025639999,"borrow":-0.7932304658842142,"lend":-0.7574077013533635,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.03950224110561782,"debt":0.037293955574432554}}},"takara_lend":{"id":"takara_lend","level":"family","name":"Takara Lend","class_id":"algorithmic","children":["takara_lend_sei"],"single_deployment":true,"metrics":{"collateral":{"btc":499.91320464115745,"usd":41467907.72508711,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1823920.7629459035,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 76.6% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 76% · contract_read 24% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":17.165768383069583,"weight_usd":1823920.7629459037,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":9.288118248653149,"weight_usd":2518928.526602506,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":1823920.7629459035,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1823920.7629459035,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1823920.7629459035,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.0031138961068513027,"debt":null},"share_of_market":{"collateral":0.0004277882648588119,"debt":null},"vs_parent":{"ltv":null,"borrow":12.270178199391381,"lend":5.91560800555494,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0022646266144141307,"debt":null}}},"tectonic":{"id":"tectonic","level":"family","name":"Tectonic","class_id":"algorithmic","children":["tectonic_cronos"],"single_deployment":true,"metrics":{"collateral":{"btc":111.1486695,"usd":9224115.711127391,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1630285.2516490007,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $3m more is owed in dollars by 247 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 91 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.41875430963563776,"debt_usd":1650601.8474180007,"collateral_usd":3941695.1884129993,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":3.0702376618515546,"weight_usd":6424455.443609091,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.2006173789685555,"weight_usd":8048313.202838765,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":47774.31710473112,"debt_usd":1650601.8474180007,"headroom_pct":0.4287930445304989,"btc_price_ref":83637.49188849289,"threshold_low":0.7315777154146125,"threshold_high":0.7315777154146125,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $42,126 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.06586168,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.06586168,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":14808.118307000008,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":1650476.5401955699,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1630285.2516490007,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1630285.2516490007,"share":0.9877663886430178},{"currency":"btc","basis":"native","native":0.06586168,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":5383.170239569137,"share":0.0032615854321269354},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":14808.118307000008,"share":0.008972025924855223}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.41875430963563776,"kind":"converted","debt_usd":1650601.8474180007,"collateral_usd":3941695.1884129993,"parts":[{"currency":"usd","debt_usd":1650601.8474180007,"collateral_usd":3941695.1884129993}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0006923310007107932,"debt":0.00036528218864151715},"share_of_market":{"collateral":0.00009511270361602277,"debt":0.000049030808678019666},"vs_parent":{"ltv":-0.03618099643266842,"borrow":-1.8253525218266482,"lend":-1.1718928641296524,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000503507874506136,"debt":0.00023558721005613605}}},"tender_finance":{"id":"tender_finance","level":"family","name":"Tender Finance","class_id":"algorithmic","children":["tender_finance_arbitrum"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"tydro":{"id":"tydro","level":"family","name":"Tydro","class_id":"algorithmic","children":["tydro_ink"],"single_deployment":true,"metrics":{"collateral":{"btc":1160.4364431667364,"usd":96040022.93418172,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":54456934.10884803,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $472,500 more is owed in dollars by 293 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 122 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.5833687764126294,"debt_usd":54483506.301293336,"collateral_usd":93394621.89994888,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":5.921405437793012,"weight_usd":54900625.63923343,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.969414993536372,"weight_usd":78973825.00211969,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":56511.043697294524,"debt_usd":54483506.301293336,"headroom_pct":0.32474607398116984,"btc_price_ref":83688.58220562001,"threshold_low":0.8662972558680702,"threshold_high":0.8662972558680702,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $5m of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.30949392,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.30949392,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":671.085079248387,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":54482901.518883936,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":54456934.10884803,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":54456934.10884803,"share":0.9995233842304285},{"currency":"btc","basis":"native","native":0.30949392,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":25296.324956660552,"share":0.0004642984175116439},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":671.085079248387,"share":0.000012317352059816178}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.5833687764126294,"kind":"converted","debt_usd":54483506.301293336,"collateral_usd":93394621.89994888,"parts":[{"currency":"usd","debt_usd":54483506.301293336,"collateral_usd":93394621.89994888}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.007228211795723746,"debt":0.012201636528249512},"share_of_market":{"collateral":0.0009930145631131414,"debt":0.0016377916163945736},"vs_parent":{"ltv":0.12843347034432323,"borrow":1.025815254114809,"lend":0.5969047504381639,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.005256823042747659,"debt":0.007869394121021278}}},"venus_core_pool":{"id":"venus_core_pool","level":"family","name":"Venus Core Pool","class_id":"algorithmic","children":["venus_core_pool_bsc"],"single_deployment":true,"metrics":{"collateral":{"btc":8078.353302904746,"usd":669837030.3507067,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":84082921.04907791,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $70m more is owed in dollars by 1,934 accounts posting bitcoin among other collateral, a bound never apportioned; $64m borrowed in other currencies is not added","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 1,626 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.40920642126026735,"debt_usd":147928781.86234304,"collateral_usd":361501614.28736717,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.756686513649951,"weight_usd":187435670.27373552,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.0655686303492744,"weight_usd":263291188.26340657,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":44047.844117559995,"debt_usd":147928781.86234304,"headroom_pct":0.4733918056075984,"btc_price_ref":83644.43354016209,"threshold_low":0.7796114454399783,"threshold_high":0.7796114454399783,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $53m of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":510.9655952824801,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":510.9655952824801,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":21164259.04936318,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":147010687.8918708,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":84082921.04907791,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":84082921.04907791,"share":0.5719510754954261},{"currency":"btc","basis":"native","native":510.9655952824801,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":41763507.793429725,"share":0.2840848403086692},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":21164259.04936318,"share":0.14396408419590487}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.40920642126026735,"kind":"converted","debt_usd":147928781.86234304,"collateral_usd":361501614.28736717,"parts":[{"currency":"usd","debt_usd":147928781.86234304,"collateral_usd":361501614.28736717}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.05031904071776032,"debt":0.018839643796760407},"share_of_market":{"collateral":0.006912849491236579,"debt":0.002528792805355008},"vs_parent":{"ltv":-0.04572888480803883,"borrow":-0.13890367002825155,"lend":-0.3069416127489335,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.036595260378309714,"debt":0.012150548968830062}}},"zentra_finance":{"id":"zentra_finance","level":"family","name":"Zentra Finance","class_id":"algorithmic","children":["zentra_finance_citrea"],"single_deployment":true,"metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}}},"venues":{"aave_v1_ethereum":{"id":"aave_v1_ethereum","level":"venue","name":"Aave v1 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"aave_v1","metrics":{"collateral":{"btc":2.4420509,"usd":202317.64118225174,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its debt is not read yet","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its debt is not read yet","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its borrow rate is not read yet","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its lend rate is not read yet","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.65,"threshold_high":0.65,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-10/historical_cells.json, as read on 2026-10-01","basis":"reserve liquidation threshold"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.000015211226108142421,"debt":null},"share_of_market":{"collateral":0.000002089724191137903,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000011062587286254438,"debt":null}},"share_of_class":{"collateral":0.000015211226108142421,"debt":null}},"aave_v2_avalanche":{"id":"aave_v2_avalanche","level":"venue","name":"Aave v2 (Avalanche)","deployment":"Avalanche","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"aave_v2","metrics":{"collateral":{"btc":67.95881431,"usd":5630213.116664298,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":369297.65751975414,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 55.4% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"contract_read (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its debt is not read yet","observer":null},"borrow":{"value":22.109227211305505,"weight_usd":369297.65751975414,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":1.272444589135615,"weight_usd":1519289.9253789322,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.7,"threshold_high":0.7,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-10/historical_cells.json, as read on 2026-10-01","basis":"reserve liquidation threshold"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":369297.65751975414,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":369297.65751975414,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":369297.65751975414,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.1612316253125496,"debt":null},"share_of_market":{"collateral":0.00005815406151634911,"debt":null},"vs_parent":{"ltv":null,"borrow":9.783866035050687,"lend":0.9191001941152742,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v2","name":"Aave v2"}},"secured_view":{"share_of_market":{"collateral":0.0003078561201057407,"debt":null}},"share_of_class":{"collateral":0.00042330685675334397,"debt":null}},"aave_v2_ethereum":{"id":"aave_v2_ethereum","level":"venue","name":"Aave v2 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"aave_v2","metrics":{"collateral":{"btc":292.27622876,"usd":24214334.425366566,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":9179388.662254317,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 26.1% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"contract_read (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its debt is not read yet","observer":null},"borrow":{"value":10.689153955335906,"weight_usd":9179388.662254317,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":0.3689662996926743,"weight_usd":39466128.320084356,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.82,"threshold_high":0.82,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-10/historical_cells.json, as read on 2026-10-01","basis":"reserve liquidation threshold"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":9179388.662254317,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":9179388.662254317,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":9179388.662254317,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.693422507170834,"debt":null},"share_of_market":{"collateral":0.0002501080979656598,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.6362072209189122,"lend":0.015621904672333431,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v2","name":"Aave v2"}},"secured_view":{"share_of_market":{"collateral":0.0013240228909048412,"debt":null}},"share_of_class":{"collateral":0.0018205516525898451,"debt":null}},"aave_v2_polygon":{"id":"aave_v2_polygon","level":"venue","name":"Aave v2 (Polygon)","deployment":"Polygon","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"aave_v2","metrics":{"collateral":{"btc":61.26299851,"usd":5075481.985365253,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":2338352.1974796904,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 25.6% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"contract_read (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its debt is not read yet","observer":null},"borrow":{"value":17.20325049372555,"weight_usd":2338352.1974796904,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":0.0007041978807753393,"weight_usd":5708129.067710727,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.75,"threshold_high":0.75,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-10/historical_cells.json, as read on 2026-10-01","basis":"reserve liquidation threshold"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":2338352.1974796904,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":2338352.1974796904,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2338352.1974796904,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.14534586751661654,"debt":null},"share_of_market":{"collateral":0.000052424284034371406,"debt":null},"vs_parent":{"ltv":null,"borrow":4.877889317470734,"lend":-0.3526401971395655,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v2","name":"Aave v2"}},"secured_view":{"share_of_market":{"collateral":0.0002775238093663611,"debt":null}},"share_of_class":{"collateral":0.0003815994672340377,"debt":null}},"aave_v3_arbitrum":{"id":"aave_v3_arbitrum","level":"venue","name":"Aave v3 (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"btc":3061.350764063593,"usd":253625043.36696267,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":45312273.222539715,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $84m more is owed in dollars by 5,894 accounts posting bitcoin among other collateral, a bound never apportioned; $2m borrowed in other currencies is not added","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 3,337 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.3661317213388889,"debt_usd":47149561.29901019,"collateral_usd":128777591.64540921,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.518924717068877,"weight_usd":40447550.374161005,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.5490494574903377,"weight_usd":46380695.53138857,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":39217.232734971534,"debt_usd":47149561.29901019,"headroom_pct":0.5305507131067155,"btc_price_ref":83538.80563862999,"threshold_low":0.7799086352903285,"threshold_high":0.7799086352903285,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $7m of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":17.517297009999997,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":17.517297009999997,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":373914.0062379269,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":47117954.4102696,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":45312273.222539715,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":45312273.222539715,"share":0.9616774282684833},{"currency":"btc","basis":"native","native":17.517297009999997,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":1431767.18149196,"share":0.03038687055522722},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":373914.0062379269,"share":0.007935701176289401}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.3661317213388889,"kind":"converted","debt_usd":47149561.29901019,"collateral_usd":128777591.64540921,"parts":[{"currency":"usd","debt_usd":47149561.29901019,"collateral_usd":128777591.64540921}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.04631974129048094,"debt":0.03258091344063228},"share_of_market":{"collateral":0.0026196746141622985,"debt":0.001362766053911913},"vs_parent":{"ltv":-0.039011660360085965,"borrow":-0.25638018829431264,"lend":0.2094284858559199,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.013868040195761364,"debt":0.006547928970713533}},"share_of_class":{"collateral":0.019068766612729438,"debt":0.01015268114479349}},"aave_v3_avalanche":{"id":"aave_v3_avalanche","level":"venue","name":"Aave v3 (Avalanche)","deployment":"Avalanche","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"btc":1203.37693848,"usd":99696686.76700935,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":17984596.56904011,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $18m more is owed in dollars by 1,100 accounts posting bitcoin among other collateral, a bound never apportioned; $1m borrowed in other currencies is not added","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 958 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.3757212028853966,"debt_usd":19052676.63036417,"collateral_usd":50709612.56390862,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":6.312198220023684,"weight_usd":83372714.51257874,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":5.277912727772777,"weight_usd":91472797.71409874,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":41977.71323002694,"debt_usd":19052676.63036417,"headroom_pct":0.49823159897546415,"btc_price_ref":83659.53923027983,"threshold_low":0.7491995230110489,"threshold_high":0.7491995230110489,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $353,542 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":4.084254489999999,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":4.084254489999999,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":726393.2125914578,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":19044814.20307655,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":17984596.56904011,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":17984596.56904011,"share":0.9443303766195225},{"currency":"btc","basis":"native","native":4.084254489999999,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":333824.42144498316,"share":0.017528363253397152},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":726393.2125914578,"share":0.038141260127080384}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.3757212028853966,"kind":"converted","debt_usd":19052676.63036417,"collateral_usd":50709612.56390862,"parts":[{"currency":"usd","debt_usd":19052676.63036417,"collateral_usd":50709612.56390862}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.018207684372416044,"debt":0.012931476229471448},"share_of_market":{"collateral":0.0010297598217134313,"debt":0.0005408865182556564},"vs_parent":{"ltv":-0.029422178813578226,"borrow":1.5368933146604942,"lend":1.938291756138359,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.0054513451870313746,"debt":0.0025988954542769346}},"share_of_class":{"collateral":0.0074956827085559405,"debt":0.004029633948984586}},"aave_v3_base":{"id":"aave_v3_base","level":"venue","name":"Aave v3 (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"btc":2895.931129019051,"usd":239920451.71924525,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":52591677.43515295,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $59m more is owed in dollars by 4,819 accounts posting bitcoin among other collateral, a bound never apportioned; $6m borrowed in other currencies is not added","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 3,328 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.40030438276458086,"debt_usd":58151186.81174263,"collateral_usd":145267424.77846256,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.840380044240671,"weight_usd":163073685.9726943,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.912732336934661,"weight_usd":182174478.49970433,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":41635.044488929285,"debt_usd":58151186.81174263,"headroom_pct":0.5020040391329018,"btc_price_ref":83605.18510317912,"threshold_low":0.8045536870798992,"threshold_high":0.8045536870798992,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $5m of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":10.531980405461292,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":10.531980405461292,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":4679013.257864531,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":58131516.64647637,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":52591677.43515295,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":52591677.43515295,"share":0.9047016226152561},{"currency":"btc","basis":"native","native":10.531980405461292,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":860825.9534588932,"share":0.014808248659568939},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":4679013.257864531,"share":0.0804901287251749}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.40030438276458086,"kind":"converted","debt_usd":58151186.81174263,"collateral_usd":145267424.77846256,"parts":[{"currency":"usd","debt_usd":58151186.81174263,"collateral_usd":145267424.77846256}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.04381686093140105,"debt":0.037815028210944665},"share_of_market":{"collateral":0.0024781208844502018,"debt":0.0015816940451193395},"vs_parent":{"ltv":-0.00483899893439399,"borrow":0.06507513887748129,"lend":0.5731113653002433,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.013118682698118458,"debt":0.007599851956329585}},"share_of_class":{"collateral":0.01803838863355262,"debt":0.01178370657430043}},"aave_v3_bsc":{"id":"aave_v3_bsc","level":"venue","name":"Aave v3 (BSC)","deployment":"BSC","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"btc":1064.2433137345934,"usd":88167150.47157247,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":18158326.73729865,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $26m more is owed in dollars by 1,104 accounts posting bitcoin among other collateral, a bound never apportioned; $7m borrowed in other currencies is not added","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 1,219 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.42376706530724656,"debt_usd":25463407.087717447,"collateral_usd":60088216.31585633,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.0196490187833325,"weight_usd":62890266.19866676,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.9619634048302435,"weight_usd":76810812.09131366,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":47258.180296940605,"debt_usd":25463407.087717447,"headroom_pct":0.4349788154619364,"btc_price_ref":83639.6609369201,"threshold_low":0.7500026120337525,"threshold_high":0.7500026120337525,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $2m of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":1.4831524849795537,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":1.4831524849795537,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":7181029.979457359,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":25460581.41551688,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":18158326.73729865,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":18158326.73729865,"share":0.7131937185940345},{"currency":"btc","basis":"native","native":1.4831524849795537,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":121224.69876087194,"share":0.004761269854073006},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":7181029.979457359,"share":0.28204501155189254}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.42376706530724656,"kind":"converted","debt_usd":25463407.087717447,"collateral_usd":60088216.31585633,"parts":[{"currency":"usd","debt_usd":25463407.087717447,"collateral_usd":60088216.31585633}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.016102524265098065,"debt":0.013056393545940188},"share_of_market":{"collateral":0.0009106996901530369,"debt":0.0005461114509064724},"vs_parent":{"ltv":0.018623683608271713,"borrow":-0.7556558865798575,"lend":-0.3776575668041744,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.004821064357013036,"debt":0.0026240006348588075}},"share_of_class":{"collateral":0.006629036962045162,"debt":0.0040685599811193605}},"aave_v3_ethereum":{"id":"aave_v3_ethereum","level":"venue","name":"Aave v3 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"btc":56677.70387778442,"usd":4695602108.940279,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":1232163031.0354488,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $986m more is owed in dollars by 5,150 accounts posting bitcoin among other collateral, a bound never apportioned; $50m borrowed in other currencies is not added","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 4,452 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.40611375602169836,"debt_usd":1282529720.6208992,"collateral_usd":3158055351.7433047,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.747450098014669,"weight_usd":3879963894.882062,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.315381529963535,"weight_usd":4807941844.052729,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":43506.05369163652,"debt_usd":1282529720.6208992,"headroom_pct":0.4781604197422417,"btc_price_ref":83370.55167441894,"threshold_low":0.7782712740028402,"threshold_high":0.7782712740028402,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $56m of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":223.80376337073162,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":223.80376337073162,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":31722789.026157085,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":1282178304.5302818,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1232163031.0354488,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1232163031.0354488,"share":0.9609919514952674},{"currency":"btc","basis":"native","native":223.80376337073162,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":18292484.468675803,"share":0.014266724373703348},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":31722789.026157085,"share":0.024741324131029137}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.40611375602169836,"kind":"converted","debt_usd":1282529720.6208992,"collateral_usd":3158055351.7433047,"parts":[{"currency":"usd","debt_usd":1282529720.6208992,"collateral_usd":3158055351.7433047}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.8575615089179398,"debt":0.8859629898008229},"share_of_market":{"collateral":0.048500532438351986,"debt":0.037057287841940796},"vs_parent":{"ltv":0.0009703743227235107,"borrow":-0.02785480734852097,"lend":-0.024239441670882655,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.2567522430971737,"debt":0.1780558650839412}},"share_of_class":{"collateral":0.35303824706328574,"debt":0.2760788078555825}},"aave_v3_linea":{"id":"aave_v3_linea","level":"venue","name":"Aave v3 (Linea)","deployment":"Linea","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"btc":10.72155127,"usd":885441.455943204,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":57514.080887561315,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $565,835 more is owed in dollars by 62 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 21 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.4542952877411599,"debt_usd":57999.62320341999,"collateral_usd":127669.43608815498,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.198383852375199,"weight_usd":1551607.2078123218,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.175048133797622,"weight_usd":1847875.6518465762,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":48701.56146257887,"debt_usd":57999.62320341999,"headroom_pct":0.4175701439215899,"btc_price_ref":83617.89999999998,"threshold_low":0.78,"threshold_high":0.78,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $5 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.00458642,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.00458642,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":102.0355069406782,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":57990.98505333615,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":57514.080887561315,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":57514.080887561315,"share":0.9917762361626343},{"currency":"btc","basis":"native","native":0.00458642,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":374.8686588341609,"share":0.00646425747880265},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":102.0355069406782,"share":0.0017595063585630233}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.4542952877411599,"kind":"converted","debt_usd":57999.62320341999,"collateral_usd":127669.43608815498,"parts":[{"currency":"usd","debt_usd":57999.62320341999,"collateral_usd":127669.43608815498}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.00016222233887364866,"debt":0.00004135438718362605},"share_of_market":{"collateral":0.000009174700271580871,"debt":0.0000017297352677623943},"vs_parent":{"ltv":0.049151906042185056,"borrow":-0.5769210529879913,"lend":-0.16457283783679566,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.00004856905184426219,"debt":0.000008311172441472055}},"share_of_class":{"collateral":0.00006678318645938606,"debt":0.000012886621726512953}},"aave_v3_mantle":{"id":"aave_v3_mantle","level":"venue","name":"Aave v3 (Mantle)","deployment":"Mantle","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"btc":134.20077939,"usd":11083665.05835006,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":5767957.548284064,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $0 more is owed in dollars by 0 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 7 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.5151083907149724,"debt_usd":5767957.548284089,"collateral_usd":11197560.847879302,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.141574770288557,"weight_usd":143498243.69642943,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.7961761297583108,"weight_usd":191618336.69906074,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":54410.62609649322,"debt_usd":5767957.548284089,"headroom_pct":0.347964062386111,"btc_price_ref":83447.2809821,"threshold_low":0.79,"threshold_high":0.79,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it)","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null}},"debt_all":{"usd":5767957.548284064,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":5767957.548284064,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":5767957.548284064,"share":1},{"currency":"btc","basis":"native","native":0,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":0,"share":0}],"limitation":"all debt secured by bitcoin here in 2 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.5151083907149724,"kind":"converted","debt_usd":5767957.548284089,"collateral_usd":11197560.847879302,"parts":[{"currency":"usd","debt_usd":5767957.548284089,"collateral_usd":11197560.847879302}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0020305237332799084,"debt":0.0041473382870671075},"share_of_market":{"collateral":0.00011483897209548088,"debt":0.0001734712515658233},"vs_parent":{"ltv":0.10996500901599754,"borrow":-0.6337301350746332,"lend":-0.5434448418761071,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.0006079348452095125,"debt":0.000833508752623516}},"share_of_class":{"collateral":0.0008359196768544954,"debt":0.0012923702493765695}},"aave_v3_megaeth":{"id":"aave_v3_megaeth","level":"venue","name":"Aave v3 (MegaETH)","deployment":"MegaETH","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"btc":0.51310806,"usd":42521.953513375105,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":15520.806346082898,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $0 more is owed in dollars by 0 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 3 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.3654483658633374,"debt_usd":15520.806346100002,"collateral_usd":42470.586260342294,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":5.8207423045691655,"weight_usd":5927480.062804895,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":4.844590722662551,"weight_usd":6484144.533752304,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":41697.57130426113,"debt_usd":15520.806346100002,"headroom_pct":0.4999365702249678,"btc_price_ref":83384.56448018999,"threshold_low":0.7305264894783287,"threshold_high":0.7305264894783287,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it)","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null}},"debt_all":{"usd":15520.806346082898,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":15520.806346082898,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":15520.806346082898,"share":1},{"currency":"btc","basis":"native","native":0,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":0,"share":0}],"limitation":"all debt secured by bitcoin here in 2 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.3654483658633374,"kind":"converted","debt_usd":15520.806346100002,"collateral_usd":42470.586260342294,"parts":[{"currency":"usd","debt_usd":15520.806346100002,"collateral_usd":42470.586260342294}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.000007763577069395522,"debt":0.000011159935534618052},"share_of_market":{"collateral":4.3907943345891715e-7,"debt":4.667880579264581e-7},"vs_parent":{"ltv":-0.03969501583563745,"borrow":1.0454373992059756,"lend":1.5049697510281335,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.000002324399831727782,"debt":0.0000022428611564735446}},"share_of_class":{"collateral":0.0000031960851915782376,"debt":0.000003477596393541407}},"aave_v3_monad":{"id":"aave_v3_monad","level":"venue","name":"Aave v3 (Monad)","deployment":"Monad","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"btc":5.89676009,"usd":488188.6174819057,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":248795518.64417854,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 0.1% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 62% · contract_read 38% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":5.210882350363275,"weight_usd":248795518.64417854,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.2276586463896026,"weight_usd":354132161.7320022,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.78,"threshold_high":0.78,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/aave_chains.json, as read on 2026-10-01","basis":"reserve liquidation threshold (outside e-mode)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":248795518.64417854,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":248795518.64417854,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":248795518.64417854,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00008922087760315181,"debt":null},"share_of_market":{"collateral":0.000005046005474091273,"debt":null},"vs_parent":{"ltv":null,"borrow":0.4355774450000851,"lend":-0.1119623252448152,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.00002671255672915195,"debt":null}},"share_of_class":{"collateral":0.000036730172591595145,"debt":null}},"aave_v3_optimism":{"id":"aave_v3_optimism","level":"venue","name":"Aave v3 (Optimism)","deployment":"Optimism","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"btc":188.37585531,"usd":15606455.500992363,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":1681889.3723498224,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $6m more is owed in dollars by 407 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 210 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.3873277534688871,"debt_usd":1875288.5675871812,"collateral_usd":4841606.496803275,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.0008546928129,"weight_usd":3395268.659361015,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.9444251208334395,"weight_usd":4153593.6039442485,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":41554.067836149305,"debt_usd":1875288.5675871812,"headroom_pct":0.5034241065337886,"btc_price_ref":83681.20237591995,"threshold_low":0.7799946446405382,"threshold_high":0.7799946446405382,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $89,696 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.24816064000000004,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.24816064000000004,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":172632.81449978097,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":1874805.4679909353,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1681889.3723498224,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1681889.3723498224,"share":0.8971007398181721},{"currency":"btc","basis":"native","native":0.24816064000000004,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":20283.281141331812,"share":0.010818872404435445},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":172632.81449978097,"share":0.09208038777739241}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.3873277534688871,"kind":"converted","debt_usd":1875288.5675871812,"collateral_usd":4841606.496803275,"parts":[{"currency":"usd","debt_usd":1875288.5675871812,"collateral_usd":4841606.496803275}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.002850219251501301,"debt":0.0012093300150298122},"share_of_market":{"collateral":0.00016119794303533986,"debt":0.00005058280196662986},"vs_parent":{"ltv":-0.017815628230087754,"borrow":-0.7744502125502901,"lend":-0.3951958508009783,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.0008533500845497165,"debt":0.00024304435340636256}},"share_of_class":{"collateral":0.0011733693709804047,"debt":0.0003768446229660936}},"aave_v3_polygon":{"id":"aave_v3_polygon","level":"venue","name":"Aave v3 (Polygon)","deployment":"Polygon","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"btc":841.22945573,"usd":69693698.51231319,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":16934583.559321776,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $15m more is owed in dollars by 2,948 accounts posting bitcoin among other collateral, a bound never apportioned; $1m borrowed in other currencies is not added","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 1,908 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.4511454472424119,"debt_usd":18342943.464887287,"collateral_usd":40658602.623626076,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":6.634344623198883,"weight_usd":23003118.34771436,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.295894265002589,"weight_usd":34754816.033292085,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":48375.15875880717,"debt_usd":18342943.464887287,"headroom_pct":0.421599935148118,"btc_price_ref":83636.15721792007,"threshold_low":0.7799858234434947,"threshold_high":0.7799858234434947,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $2m of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":12.867144990000009,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":12.867144990000009,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":332201.3442360996,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":18318474.32263114,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":16934583.559321776,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":16934583.559321776,"share":0.924453819737615},{"currency":"btc","basis":"native","native":12.867144990000009,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":1051689.4190732634,"share":0.05741140886247158},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":332201.3442360996,"share":0.018134771399913426}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.4511454472424119,"kind":"converted","debt_usd":18342943.464887287,"collateral_usd":40658602.623626076,"parts":[{"currency":"usd","debt_usd":18342943.464887287,"collateral_usd":40658602.623626076}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.012728215013043264,"debt":0.012176484688589022},"share_of_market":{"collateral":0.0007198611396415828,"debt":0.0005093073900406049},"vs_parent":{"ltv":0.046002065543437054,"borrow":1.8590397178356932,"lend":-0.04372670663182898,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.0038108027485346187,"debt":0.002447161495307497}},"share_of_class":{"collateral":0.005239911854391985,"debt":0.0037943677279941024}},"aave_v3_xlayer":{"id":"aave_v3_xlayer","level":"venue","name":"Aave v3 (X Layer)","deployment":"X Layer","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"btc":8.16334568,"usd":677093.3757467713,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":93920.13876835146,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $135,097 more is owed in dollars by 28 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 44 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.4658955576838362,"debt_usd":116193.41521923,"collateral_usd":249397.989104847,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.2246662015051815,"weight_usd":64732948.08348911,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.231404761784566,"weight_usd":77440709.32924277,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":50052.08649345904,"debt_usd":116193.41521923,"headroom_pct":0.3998971715598001,"btc_price_ref":83405.84999999999,"threshold_low":0.7817385638339551,"threshold_high":0.7817385638339551,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $16,999 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.00077051,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.00077051,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":22209.011409395032,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":116192.12741278348,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":93920.13876835146,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":93920.13876835146,"share":0.808317575894719},{"currency":"btc","basis":"native","native":0.00077051,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":62.977235036980765,"share":0.0005420094841128798},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":22209.011409395032,"share":0.19114041462116815}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.4658955576838362,"kind":"converted","debt_usd":116193.41521923,"collateral_usd":249397.989104847,"parts":[{"currency":"usd","debt_usd":116193.41521923,"collateral_usd":249397.989104847}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.00012351543129296584,"debt":0.0000675314587841444},"share_of_market":{"collateral":0.000006985579599555889,"debt":0.000002824647005980244},"vs_parent":{"ltv":0.06075217598486138,"borrow":-0.5506387038580085,"lend":-0.10821620984985181,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.00003698027921238992,"debt":0.000013572093250638607}},"share_of_class":{"collateral":0.0000508484474821584,"debt":0.00002104377366606073}},"aave_v4_avalanche":{"id":"aave_v4_avalanche","level":"venue","name":"Aave v4 (Avalanche)","deployment":"Avalanche","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"aave_v4","metrics":{"collateral":{"btc":118.84008171,"usd":9835212.480901832,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":3030132.31655336,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $2m more is owed in dollars by 32 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 50 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.49605691017429826,"debt_usd":3037832.2586950166,"collateral_usd":6123959.159499706,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":1.3763056019254796,"weight_usd":5588712.562819758,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":0.3679080793877349,"weight_usd":19014050.237652164,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":55216.60751220048,"debt_usd":3037832.2586950166,"headroom_pct":0.3385886021382206,"btc_price_ref":83482.99967419,"threshold_low":0.7499978200442438,"threshold_high":0.7499978200442438,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $165,025 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":3e-8,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":3e-8,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":7699.940471244874,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":3037832.2594766393,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":3030132.31655336,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":3030132.31655336,"share":0.9974653166252814},{"currency":"btc","basis":"native","native":3e-8,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":0.002452034433179872,"share":8.071658418698571e-10},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":7699.940471244874,"share":0.0025346825675527677}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.49605691017429826,"kind":"converted","debt_usd":3037832.2586950166,"collateral_usd":6123959.159499706,"parts":[{"currency":"usd","debt_usd":3037832.2586950166,"collateral_usd":6123959.159499706}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.09220399979173698,"debt":0.11657108149930007},"share_of_market":{"collateral":0.00010169443791126224,"debt":0.00009113119175416506},"vs_parent":{"ltv":0.07319341408074287,"borrow":-3.0019217982805726,"lend":-2.413995224674244,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v4","name":"Aave v4"}},"secured_view":{"share_of_market":{"collateral":0.00053835027641008,"debt":0.00043787454854031657}},"share_of_class":{"collateral":0.0007402398343134169,"debt":0.0006789323299983496}},"aave_v4_ethereum":{"id":"aave_v4_ethereum","level":"venue","name":"Aave v4 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"aave_v4","metrics":{"collateral":{"btc":1170.04198391,"usd":96864245.97787331,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":22963727.20315568,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $20m more is owed in dollars by 282 accounts posting bitcoin among other collateral, a bound never apportioned; $1m borrowed in other currencies is not added","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 423 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.41512602823627676,"debt_usd":24048356.273074098,"collateral_usd":57930254.03694159,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.465974994890205,"weight_usd":191194734.47724006,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.9687952357369602,"weight_usd":245595548.52925172,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":42307.53363973883,"debt_usd":24048356.273074098,"headroom_pct":0.49309960796588426,"btc_price_ref":83463.20954687962,"threshold_low":0.8203621437958397,"threshold_high":0.8203621437958397,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $3m of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":8.250381359999997,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":8.250381359999997,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":396092.71300123853,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":24034160.555543102,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":22963727.20315568,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":22963727.20315568,"share":0.9554620037627841},{"currency":"btc","basis":"native","native":8.250381359999997,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":674340.639386179,"share":0.02805759068754548},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":396092.71300123853,"share":0.016480405549670257}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.41512602823627676,"kind":"converted","debt_usd":24048356.273074098,"collateral_usd":57930254.03694159,"parts":[{"currency":"usd","debt_usd":24048356.273074098,"collateral_usd":57930254.03694159}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.907796000208263,"debt":0.8834289185006998},"share_of_market":{"collateral":0.001001234265192307,"debt":0.0006906338101834058},"vs_parent":{"ltv":-0.007737467857278635,"borrow":0.08774759468415283,"lend":0.1868919316749813,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v4","name":"Aave v4"}},"secured_view":{"share_of_market":{"collateral":0.005300336522709942,"debt":0.0033184133996241316}},"share_of_class":{"collateral":0.0072880434938004555,"debt":0.005145259410063924}},"arcadia_v2_base":{"id":"arcadia_v2_base","level":"venue","name":"Arcadia v2 (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"arcadia_v2","metrics":{"collateral":{"btc":3.07934841,"usd":251688.944435923,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1856883.8728783333,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 8.4% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 96% · contract_read 4% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":12.364215193345476,"weight_usd":1856883.8728783333,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":9.800726495036306,"weight_usd":2258831.9375106003,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":1856883.8728783333,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1856883.8728783333,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1856883.8728783333,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.000019180871672354928,"debt":null},"share_of_market":{"collateral":0.00000263507565109271,"debt":null},"vs_parent":{"ltv":null,"borrow":7.4686250096672735,"lend":6.428216251938098,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000013949570244589833,"debt":null}},"share_of_class":{"collateral":0.000019180871672354928,"debt":null}},"asymmetry_usdaf_ethereum":{"id":"asymmetry_usdaf_ethereum","level":"venue","name":"Asymmetry USDaf (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"asymmetry_usdaf","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"avalon_finance_bob":{"id":"avalon_finance_bob","level":"venue","name":"Avalon Finance (BOB)","deployment":"BOB","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"avalon_finance","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"benqi_lending_avalanche":{"id":"benqi_lending_avalanche","level":"venue","name":"BENQI Lending (Avalanche)","deployment":"Avalanche","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"benqi_lending","metrics":{"collateral":{"btc":247.63395573999998,"usd":20491322.11295589,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":414194.7200740001,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $3m more is owed in dollars by 169 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 89 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.19301967334161352,"debt_usd":878839.8479489998,"collateral_usd":4553110.223089,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":8.205257158504162,"weight_usd":17412093.221182246,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":5.900260689835655,"weight_usd":20365528.40030799,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":23374.221099130613,"debt_usd":878839.8479489998,"headroom_pct":0.7203024375581669,"btc_price_ref":83569.62747571888,"threshold_low":0.6901658050374028,"threshold_high":0.6901658050374028,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $39,553 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.22842018000000003,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.22842018000000003,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":445580.3768349997,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":878444.901795438,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":414194.7200740001,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":414194.7200740001,"share":0.4715090488059466},{"currency":"btc","basis":"native","native":0.22842018000000003,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":18669.804886438145,"share":0.021253245193044275},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":445580.3768349997,"share":0.5072377060010091}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.19301967334161352,"kind":"converted","debt_usd":878839.8479489998,"collateral_usd":4553110.223089,"parts":[{"currency":"usd","debt_usd":878839.8479489998,"collateral_usd":4553110.223089}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.001542480581717143,"debt":0.00009280458969947527},"share_of_market":{"collateral":0.00021190658550853742,"debt":0.000012456901057562027},"vs_parent":{"ltv":-0.26191563272669266,"borrow":3.3096669748259595,"lend":2.5277504467374468,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0011217916262163978,"debt":0.000059853929503144786}},"share_of_class":{"collateral":0.001542480581717143,"debt":0.00009280458969947527}},"broker_fidelity":{"id":"broker_fidelity","level":"venue","name":"Fidelity","deployment":null,"venue_type":"broker","status":"registered","class_id":"posted-card","family_id":"fidelity","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker lends against whole portfolios, bitcoin funds among them, and publishes no bitcoin collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker publishes no margin book against bitcoin","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker publishes no realised LTV","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"brokers publish margin rate schedules; this dataset does not read them yet","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a broker's margin lending has no published lend leg","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"margin requirements apply per account; no book-level threshold is published","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"broker_ibkr":{"id":"broker_ibkr","level":"venue","name":"Interactive Brokers","deployment":null,"venue_type":"broker","status":"registered","class_id":"posted-card","family_id":"ibkr","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker lends against whole portfolios, bitcoin funds among them, and publishes no bitcoin collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker publishes no margin book against bitcoin","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker publishes no realised LTV","observer":null},"borrow":{"value":5.63,"weight_usd":null,"low":5.13,"high":6.13,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a broker's margin lending has no published lend leg","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"margin requirements apply per account; no book-level threshold is published","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-8.760653808795961,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"broker_schwab":{"id":"broker_schwab","level":"venue","name":"Charles Schwab","deployment":null,"venue_type":"broker","status":"registered","class_id":"posted-card","family_id":"schwab","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker lends against whole portfolios, bitcoin funds among them, and publishes no bitcoin collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the broker publishes no margin book against bitcoin","observer":null},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"brokers publish margin rate schedules; this dataset does not read them yet","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a broker's margin lending has no published lend leg","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"margin requirements apply per account; no book-level threshold is published","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.05689999999999995,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_arch":{"id":"cefi_arch","level":"venue","name":"Arch","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"arch","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk holds its borrowers' bitcoin in custody and publishes no collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this desk publishes no book, and no bound on one has been derived","observer":null},"ltv":{"value":0.6,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":10.49,"weight_usd":null,"low":10.49,"high":10.49,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-21"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.15689999999999993,"borrow":-3.900653808795962,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_blockfi":{"id":"cefi_blockfi","level":"venue","name":"BlockFi","deployment":null,"venue_type":"cefi_desk","status":"defunct","class_id":"posted-card","family_id":"blockfi","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":0,"low":null,"high":null,"kind":"partial","limitation":null,"absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"as the desk or its filings report it — grade reported_no_assurance"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":0,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":0,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":0,"share":null}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":0},"share_of_market":{"collateral":null,"debt":0},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":0}},"share_of_class":{"collateral":null,"debt":0}},"cefi_cantor":{"id":"cefi_cantor","level":"venue","name":"Cantor Fitzgerald","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"cantor","metrics":{"collateral":{"btc":12511.21173181756,"usd":1036521739.1304349,"low":1609.3840594619903,"high":120703.80445964928,"kind":"estimate","limitation":"an estimate, not a reading: the desk does not publish its collateral. The range runs from every loan at the card's maximum LTV with the book at its low end (least bitcoin) to loans at half the maximum with the book at its high end (most); the figure shown assumes three-quarters of the maximum","absent_kind":null,"absent_because":null,"observer":"estimated: the desk's book / LTV / bitcoin price","basis":"book $100m–$2.00bn, no card of its own — the other desks' maximums 40%–75%","price_derived_btc":12511.21173181756},"debt":{"usd":447000000,"low":100000000,"high":2000000000,"kind":"estimate","limitation":"a bounded estimate ($100m–$2.00bn); the midpoint is shown","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"a bounded estimate, midpoint shown — grade derived"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no realised LTV of its book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"no current borrow card with a rate has been sourced for this desk","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":447000000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":447000000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":447000000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.21279403672333638,"debt":0.18472662899408},"share_of_market":{"collateral":0.010706157605653304,"debt":0.013443519443549169},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":0.056676284609809856,"debt":0.0645945136218195}},"share_of_class":{"collateral":0.21279403672333638,"debt":0.18472662899408}},"cefi_celsius":{"id":"cefi_celsius","level":"venue","name":"Celsius Network","deployment":null,"venue_type":"cefi_desk","status":"defunct","class_id":"posted-card","family_id":"celsius","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":0,"low":null,"high":null,"kind":"partial","limitation":null,"absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"as the desk or its filings report it — grade reported_no_assurance"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":0,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":0,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":0,"share":null}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":0},"share_of_market":{"collateral":null,"debt":0},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":0}},"share_of_class":{"collateral":null,"debt":0}},"cefi_coinbase_morpho":{"id":"cefi_coinbase_morpho","level":"venue","name":"Coinbase (Morpho-backed)","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"coinbase_morpho","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk holds its borrowers' bitcoin in custody and publishes no collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this desk publishes no book, and no bound on one has been derived","observer":null},"ltv":{"value":0.75,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"no current borrow card with a rate has been sourced for this desk","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.30689999999999995,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_cred":{"id":"cefi_cred","level":"venue","name":"Cred","deployment":null,"venue_type":"cefi_desk","status":"defunct","class_id":"posted-card","family_id":"cred","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_figure":{"id":"cefi_figure","level":"venue","name":"Figure","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"figure","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk holds its borrowers' bitcoin in custody and publishes no collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this desk publishes no book, and no bound on one has been derived","observer":null},"ltv":{"value":0.75,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":9.999,"weight_usd":null,"low":9.999,"high":9.999,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-10-09"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.30689999999999995,"borrow":-4.391653808795962,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_galaxy":{"id":"cefi_galaxy","level":"venue","name":"Galaxy Digital","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"galaxy","metrics":{"collateral":{"btc":9494.549188415565,"usd":786599000,"low":null,"high":null,"kind":"partial","limitation":"collateral the desk reports holding against its cash loans ($787m), converted at today's price — it does not say how much of it is bitcoin","absent_kind":null,"absent_because":null,"observer":"the desk's own report — Galaxy Digital Inc. (SEC Form 10-Q) (reviewed_unaudited)","as_of":"2026-06-30","price_derived_btc":9494.549188415565},"debt":{"usd":763356000,"low":667936500,"high":858775500,"kind":"estimate","limitation":"a bounded estimate ($668m–$859m); the midpoint is shown","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-06-30","basis":"a bounded estimate, midpoint shown — grade derived"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no realised LTV of its book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this lender negotiates terms per borrower and publishes no card, so there is no posted price to read","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":763356000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":763356000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":763356000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.16148583302552064,"debt":0.3154634912805479},"share_of_market":{"collateral":0.008124723822497211,"debt":0.022957922211073647},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":0.04301068382337298,"debt":0.11031008845704172}},"share_of_class":{"collateral":0.16148583302552064,"debt":0.3154634912805479}},"cefi_genesis":{"id":"cefi_genesis","level":"venue","name":"Genesis Global Capital","deployment":null,"venue_type":"cefi_desk","status":"defunct","class_id":"unclassed","family_id":"genesis@unclassed","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":null,"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"unclassed","name":"Futures and brokers (no rate class)"}},"secured_view":{"share_of_market":null},"share_of_class":{"collateral":null,"debt":null}},"cefi_hodlnaut":{"id":"cefi_hodlnaut","level":"venue","name":"Hodlnaut","deployment":null,"venue_type":"cefi_desk","status":"defunct","class_id":"posted-card","family_id":"hodlnaut","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_ledn":{"id":"cefi_ledn","level":"venue","name":"Ledn","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"ledn","metrics":{"collateral":{"btc":21178.149522,"usd":1754555261.6843786,"low":null,"high":null,"kind":"partial","limitation":"the bitcoin the desk reports posted against its loans, as it reports it — not independently verified","absent_kind":null,"absent_because":null,"observer":"the desk's own report — Ledn Open Book Report, figures reported by The Network Firm LLP (not an audit, review or attestation) (self_reported)","as_of":"2026-10-01"},"debt":{"usd":785435897,"low":null,"high":null,"kind":"partial","limitation":null,"absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-10-01","basis":"as the desk or its filings report it — grade self_reported"},"ltv":{"value":0.44310000000000005,"debt_usd":785435897,"collateral_usd":1772592861.6565108,"kind":"partial","limitation":"the average LTV the desk reports for its book, as it reports it — not independently verified","absent_kind":null,"absent_because":null,"observer":"the desk's own report — Ledn Open Book Report, figures reported by The Network Firm LLP (not an audit, review or attestation) (self_reported)","as_of":"2026-10-01"},"borrow":{"value":11.49,"weight_usd":785435897,"low":11.49,"high":11.49,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-11"},"lend":{"value":6.5,"weight_usd":785435897,"low":6.5,"high":6.5,"kind":"posted","limitation":"a rate the desk posts to lenders, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":785435897,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":785435897,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":785435897,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.44310000000000005,"kind":"converted","debt_usd":785435897,"collateral_usd":1772592861.6565108,"parts":[{"currency":"usd","debt_usd":785435897,"collateral_usd":1772592861.6565108}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.36020363364613006,"debt":0.3245882003215915},"share_of_market":{"collateral":0.01812267360179062,"debt":0.02362197483888363},"vs_parent":{"ltv":0,"borrow":-2.900653808795962,"lend":0.3557569792090778,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":0.09593785602440666,"debt":0.11350078243362981}},"share_of_class":{"collateral":0.36020363364613006,"debt":0.3245882003215915}},"cefi_milo":{"id":"cefi_milo","level":"venue","name":"Milo","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"milo","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk holds its borrowers' bitcoin in custody and publishes no collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this desk publishes no book, and no bound on one has been derived","observer":null},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":10.75,"weight_usd":null,"low":10.75,"high":10.75,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-21"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.05689999999999995,"borrow":-3.640653808795962,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_nexo":{"id":"cefi_nexo","level":"venue","name":"Nexo","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"nexo","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's book covers every collateral it takes and bitcoin's share of it is not published, so its bitcoin cannot be estimated from it","observer":null},"debt":{"usd":850000000,"low":0,"high":1700000000,"kind":"whole_book","limitation":"the desk's whole book, against every collateral it takes — not a bitcoin figure, and not in the bitcoin total","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"a bounded estimate, midpoint shown — grade derived; collateral all_collateral, so not a bitcoin-only figure and not counted in the bitcoin total"},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":17.9,"weight_usd":850000000,"low":17.9,"high":17.9,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-10-09"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":850000000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":850000000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":850000000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.05689999999999995,"borrow":3.5093461912040365,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_salt":{"id":"cefi_salt","level":"venue","name":"SALT","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"salt","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's book covers every collateral it takes and bitcoin's share of it is not published, so its bitcoin cannot be estimated from it","observer":null},"debt":{"usd":45000000,"low":10000000,"high":200000000,"kind":"whole_book","limitation":"the desk's whole book, against every collateral it takes — not a bitcoin figure, and not in the bitcoin total","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"a bounded estimate, midpoint shown — grade derived; collateral all_collateral, so not a bitcoin-only figure and not counted in the bitcoin total"},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":8.75,"weight_usd":45000000,"low":8.75,"high":8.75,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-10-09"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":45000000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":45000000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":45000000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.05689999999999995,"borrow":-5.640653808795962,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_strike":{"id":"cefi_strike","level":"venue","name":"Strike","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"strike","metrics":{"collateral":{"btc":11587.565228126328,"usd":959999999.9999998,"low":1341.153382884992,"high":112656.88416233934,"kind":"estimate","limitation":"an estimate, not a reading: the desk does not publish its collateral. The range runs from every loan at the card's maximum LTV with the book at its low end (least bitcoin) to loans at half the maximum with the book at its high end (most); the figure shown assumes three-quarters of the maximum","absent_kind":null,"absent_because":null,"observer":"estimated: the desk's book / LTV / bitcoin price","basis":"book $50m–$2.10bn, card maximum LTV 45%","price_derived_btc":11587.565228126328},"debt":{"usd":324000000,"low":50000000,"high":2100000000,"kind":"estimate","limitation":"a bounded estimate ($50m–$2.10bn); the midpoint is shown","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"a bounded estimate, midpoint shown — grade derived"},"ltv":{"value":0.45,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":14.2,"weight_usd":324000000,"low":14.2,"high":14.2,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-07-21"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":324000000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":324000000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":324000000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.19708440985114373,"debt":0.13389581161987005},"share_of_market":{"collateral":0.00991577013141044,"debt":0.009744295972505439},"vs_parent":{"ltv":0.006899999999999962,"borrow":-0.19065380879596283,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":0.05249212937015945,"debt":0.046820184370177896}},"share_of_class":{"collateral":0.19708440985114373,"debt":0.13389581161987005}},"cefi_tether":{"id":"cefi_tether","level":"venue","name":"Tether (secured loans)","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"tether","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's book covers every collateral it takes and bitcoin's share of it is not published, so its bitcoin cannot be estimated from it","observer":null},"debt":{"usd":13453749726,"low":null,"high":null,"kind":"whole_book","limitation":"the desk's whole book, against every collateral it takes — not a bitcoin figure, and not in the bitcoin total","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-06-30","basis":"as the desk or its filings report it — grade reviewed_unaudited; collateral unstated, so not a bitcoin-only figure and not counted in the bitcoin total"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no realised LTV of its book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this lender negotiates terms per borrower and publishes no card, so there is no posted price to read","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":13453749726,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":13453749726,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":13453749726,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_two_prime":{"id":"cefi_two_prime","level":"venue","name":"Two Prime","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"two_prime","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk holds its borrowers' bitcoin in custody and publishes no collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this desk publishes no book, and no bound on one has been derived","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no realised LTV of its book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this lender negotiates terms per borrower and publishes no card, so there is no posted price to read","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_unchained":{"id":"cefi_unchained","level":"venue","name":"Unchained","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"unchained","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk holds its borrowers' bitcoin in custody and publishes no collateral total","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"this desk publishes no book, and no bound on one has been derived","observer":null},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":14.18,"weight_usd":null,"low":14.18,"high":14.18,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-21"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":0.05689999999999995,"borrow":-0.2106538087959624,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_vauld":{"id":"cefi_vauld","level":"venue","name":"Vauld","deployment":null,"venue_type":"cefi_desk","status":"defunct","class_id":"posted-card","family_id":"vauld","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_voyager":{"id":"cefi_voyager","level":"venue","name":"Voyager Digital","deployment":null,"venue_type":"cefi_desk","status":"defunct","class_id":"posted-card","family_id":"voyager","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the venue is defunct: it no longer lends, and this tile describes a live book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"cefi_xapo":{"id":"cefi_xapo","level":"venue","name":"Xapo Bank","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"xapo","metrics":{"collateral":{"btc":4023.4601486549755,"usd":333333333.3333333,"low":603.5190222982463,"high":30175.95111491232,"kind":"estimate","limitation":"an estimate, not a reading: the desk does not publish its collateral. The range runs from every loan at the card's maximum LTV with the book at its low end (least bitcoin) to loans at half the maximum with the book at its high end (most); the figure shown assumes three-quarters of the maximum","absent_kind":null,"absent_because":null,"observer":"estimated: the desk's book / LTV / bitcoin price","basis":"book $20m–$500m, card maximum LTV 40%","price_derived_btc":4023.4601486549755},"debt":{"usd":100000000,"low":20000000,"high":500000000,"kind":"estimate","limitation":"a bounded estimate ($20m–$500m); the midpoint is shown","absent_kind":null,"absent_because":null,"observer":"cefi_book_observations","as_of":"2026-09-16","basis":"a bounded estimate, midpoint shown — grade derived"},"ltv":{"value":0.4,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","basis":"the highest loan-to-value the desk's card allows — a policy ceiling it sets, not an observation of its book"},"borrow":{"value":10.5,"weight_usd":100000000,"low":10.5,"high":10.5,"kind":"posted","limitation":"a price the desk posts, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card","as_of":"2026-09-11"},"lend":{"value":3.35,"weight_usd":100000000,"low":3.35,"high":3.35,"kind":"posted","limitation":"a rate the desk posts to lenders, not one a market cleared","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk's card states no liquidation threshold (most say margin calls apply and give no figure), so no liquidation price can be derived","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states what it lends in (loan_currency on the registry row), not how much in each; none publishes a book of bitcoin lent against bitcoin"},"books":{},"debt_all":{"usd":100000000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":100000000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":100000000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.06843208675386936,"debt":0.04132586778391051},"share_of_market":{"collateral":0.00344297574007307,"debt":0.003007498756946123},"vs_parent":{"ltv":-0.04310000000000003,"borrow":-3.890653808795962,"lend":-2.794243020790922,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":0.018226433809083144,"debt":0.014450674188326513}},"share_of_class":{"collateral":0.06843208675386936,"debt":0.04132586778391051}},"colend_protocol_core":{"id":"colend_protocol_core","level":"venue","name":"Colend Protocol (CORE)","deployment":"CORE","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"colend_protocol","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":321812.4,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (no bitcoin in the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":16,"weight_usd":321812.4,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":1.0387033925932214,"weight_usd":602384.2333333333,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":321812.4,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":321812.4,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":321812.4,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":11.104409816321798,"lend":-2.3338068505049865,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"compound_v2_ethereum":{"id":"compound_v2_ethereum","level":"venue","name":"Compound v2 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"compound_v2","metrics":{"collateral":{"btc":285.75700037,"usd":23674233.107169975,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":2826693.9973459993,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $840,298 more is owed in dollars by 119 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 173 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.18289580110393439,"debt_usd":2872670.1934179985,"collateral_usd":15706594.553176994,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its borrow rate is not read yet","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a historical venue: its bitcoin collateral is read from its own contracts each day; its lend rate is not read yet","observer":null},"liquidation":{"btc_price":22153.222192936384,"debt_usd":2872670.1934179985,"headroom_pct":0.7345309484454501,"btc_price_ref":83449.35902399995,"threshold_low":0.6891394383938679,"threshold_high":0.6891394383938679,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $9,369 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.01151921,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.01151921,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":45014.92539399915,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":2872650.4393920996,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":2826693.9973459993,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2826693.9973459993,"share":0.9840020764740782},{"currency":"btc","basis":"native","native":0.01151921,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":941.516652100997,"share":0.00032775190437031994},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":45014.92539399915,"share":0.015670171621551366}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.18289580110393439,"kind":"converted","debt_usd":2872670.1934179985,"collateral_usd":15706594.553176994,"parts":[{"currency":"usd","debt_usd":2872670.1934179985,"collateral_usd":15706594.553176994}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0017799442037070594,"debt":0.0006333498809033518},"share_of_market":{"collateral":0.0002445294307584628,"debt":0.0000850127868328516},"vs_parent":{"ltv":-0.2720395049643718,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0012944905281259153,"debt":0.0004084763398574532}},"share_of_class":{"collateral":0.0017799442037070594,"debt":0.0006333498809033518}},"compound_v3_arbitrum":{"id":"compound_v3_arbitrum","level":"venue","name":"Compound v3 (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"compound_v3","metrics":{"collateral":{"btc":367.74536999615333,"usd":30466758.826900847,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":8663056.310247352,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $8m more is owed in dollars by 287 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 268 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.4386698623939769,"debt_usd":8665563.739291172,"collateral_usd":19754180.722605653,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":3.426987598556157,"weight_usd":10222256.593787936,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.4937817185088753,"weight_usd":14749092.651582438,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":44289.90564613931,"debt_usd":8665563.739291172,"headroom_pct":0.47001603422090193,"btc_price_ref":83568.38792477682,"threshold_low":0.8274646672430592,"threshold_high":0.8274646672430592,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $40,836 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":2507.429043820128,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":8665563.739291172,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":8663056.310247352,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":8663056.310247352,"share":0.9997106444405398},{"currency":"btc","basis":"native","native":0,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":0,"share":0},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2507.429043820128,"share":0.00028935555946014323}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.4386698623939769,"kind":"converted","debt_usd":8665563.739291172,"collateral_usd":19754180.722605653,"parts":[{"currency":"usd","debt_usd":8665563.739291172,"collateral_usd":19754180.722605653}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.04901410827061487,"debt":0.08892717559763973},"share_of_market":{"collateral":0.0003146889345590301,"debt":0.0002605413108442318},"vs_parent":{"ltv":-0.0013895928842165839,"borrow":-1.5698146390437104,"lend":-1.620356216965034,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"compound_v3","name":"Compound v3"}},"secured_view":{"share_of_market":{"collateral":0.001665901089407424,"debt":0.0012518700421451053}},"share_of_class":{"collateral":0.002290639385622135,"debt":0.0019410469217770764}},"compound_v3_base":{"id":"compound_v3_base","level":"venue","name":"Compound v3 (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"compound_v3","metrics":{"collateral":{"btc":110.11413920933057,"usd":9122673.448635267,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":2642740.2481582947,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $3m more is owed in dollars by 131 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 127 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.46271254938973794,"debt_usd":2879720.1544484203,"collateral_usd":6223561.816610386,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":6.366882497937811,"weight_usd":8422040.470369168,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":5.253227623982316,"weight_usd":9290261.96858158,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":45626.463339595764,"debt_usd":2879720.1544484203,"headroom_pct":0.45328535902736516,"btc_price_ref":83455.7187976964,"threshold_low":0.8478620116531757,"threshold_high":0.8478620116531757,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $265,372 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":236979.90629012557,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":2879720.1544484203,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":2642740.2481582947,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2642740.2481582947,"share":0.9177073140513139},{"currency":"btc","basis":"native","native":0,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":0,"share":0},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":236979.90629012557,"share":0.08229268594868606}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.46271254938973794,"kind":"converted","debt_usd":2879720.1544484203,"collateral_usd":6223561.816610386,"parts":[{"currency":"usd","debt_usd":2879720.1544484203,"collateral_usd":6223561.816610386}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.01467631350841519,"debt":0.027128003985029212},"share_of_market":{"collateral":0.00009422743010477988,"debt":0.00007948038011267559},"vs_parent":{"ltv":0.02265309411154448,"borrow":1.3700802603379438,"lend":1.139089688508407,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"compound_v3","name":"Compound v3"}},"secured_view":{"share_of_market":{"collateral":0.000498821411320293,"debt":0.0003818937829051267}},"share_of_class":{"collateral":0.0006858870424103766,"debt":0.0005921331502458605}},"compound_v3_ethereum":{"id":"compound_v3_ethereum","level":"venue","name":"Compound v3 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"compound_v3","metrics":{"collateral":{"btc":6930.337676214419,"usd":574160666.0402489,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":83782159.70120493,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $273m more is owed in dollars by 248 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 338 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.4390888761044378,"debt_usd":83907763.65251336,"collateral_usd":191095170.51977375,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":5.007077656755789,"weight_usd":477568744.5141982,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":4.143623190161051,"weight_usd":536840494.14628386,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":43015.628963789124,"debt_usd":83907763.65251336,"headroom_pct":0.48342485164183713,"btc_price_ref":83270.80600084271,"threshold_low":0.8500000000000001,"threshold_high":0.8500000000000001,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $2m of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":125603.95130842924,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":83907763.65251336,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":83782159.70120493,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":83782159.70120493,"share":0.9985030711600348},{"currency":"btc","basis":"native","native":0,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":0,"share":0},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":125603.95130842924,"share":0.0014969288399651792}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.4390888761044378,"kind":"converted","debt_usd":83907763.65251336,"collateral_usd":191095170.51977375,"parts":[{"currency":"usd","debt_usd":83907763.65251336,"collateral_usd":191095170.51977375}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.9236943519301091,"debt":0.8600325982973801},"share_of_market":{"collateral":0.005930463732242318,"debt":0.002519747411556354},"vs_parent":{"ltv":-0.000970579173755648,"borrow":0.010275419155921561,"lend":0.029485254687141804,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"compound_v3","name":"Compound v3"}},"secured_view":{"share_of_market":{"collateral":0.03139470412608507,"debt":0.012107086926364518}},"share_of_class":{"collateral":0.04316819661648979,"debt":0.018772255121497168}},"compound_v3_optimism":{"id":"compound_v3_optimism","level":"venue","name":"Compound v3 (Optimism)","deployment":"Optimism","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"compound_v3","metrics":{"collateral":{"btc":55.40603958,"usd":4590247.989948153,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":1478646.7385743982,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $823,624 more is owed in dollars by 60 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 40 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.44860096202043714,"debt_usd":1541787.6978833564,"collateral_usd":3436880.0524621173,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":5.25261617512864,"weight_usd":1392180.9670998368,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":4.449641009264225,"weight_usd":1557063.5453945133,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":44001.78883314885,"debt_usd":1541787.6978833564,"headroom_pct":0.47223416232889737,"btc_price_ref":83373.69661385745,"threshold_low":0.8499999999999998,"threshold_high":0.8499999999999998,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it)","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":63140.95930895815,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":1541787.6978833564,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1478646.7385743982,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1478646.7385743982,"share":0.9590469171626929},{"currency":"btc","basis":"native","native":0,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":0,"share":0},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":63140.95930895815,"share":0.04095308283730713}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.44860096202043714,"kind":"converted","debt_usd":1541787.6978833564,"collateral_usd":3436880.0524621173,"parts":[{"currency":"usd","debt_usd":1541787.6978833564,"collateral_usd":3436880.0524621173}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.007384668426548781,"debt":0.015178462826398084},"share_of_market":{"collateral":0.000047412337410932,"debt":0.000044470282282249414},"vs_parent":{"ltv":0.008541506742243687,"borrow":0.2558139375287727,"lend":0.3355030737903153,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"compound_v3","name":"Compound v3"}},"secured_view":{"share_of_market":{"collateral":0.0002509915534682009,"debt":0.00021367442258770237}},"share_of_class":{"collateral":0.000345117211032771,"debt":0.00033130601920600925}},"compound_v3_polygon":{"id":"compound_v3_polygon","level":"venue","name":"Compound v3 (Polygon)","deployment":"Polygon","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"compound_v3","metrics":{"collateral":{"btc":39.24407696,"usd":3251270.921880438,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":850820.3263143366,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $738,721 more is owed in dollars by 27 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 34 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.46324522660253636,"debt_usd":850820.3263143366,"collateral_usd":1836652.1173985868,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":2.7870243514228488,"weight_usd":341745.51232114894,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":0,"weight_usd":737684.5377595049,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":45463.74948075543,"debt_usd":850820.3263143366,"headroom_pct":0.455005615761722,"btc_price_ref":83420.58339609999,"threshold_low":0.8499999999999999,"threshold_high":0.8499999999999999,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it)","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null}},"debt_all":{"usd":850820.3263143366,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":850820.3263143366,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":850820.3263143366,"share":1},{"currency":"btc","basis":"native","native":0,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":0,"share":0}],"limitation":"all debt secured by bitcoin here in 2 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.46324522660253636,"kind":"converted","debt_usd":850820.3263143366,"collateral_usd":1836652.1173985868,"parts":[{"currency":"usd","debt_usd":850820.3263143366,"collateral_usd":1836652.1173985868}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.005230557864312208,"debt":0.008733759293553042},"share_of_market":{"collateral":0.00003358214072531806,"debt":0.000025588410737748622},"vs_parent":{"ltv":0.023185771324342908,"borrow":-2.2097778861770188,"lend":-4.114137935473909,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"compound_v3","name":"Compound v3"}},"secured_view":{"share_of_market":{"collateral":0.00017777722275915162,"debt":0.00012294927328374125}},"share_of_class":{"collateral":0.0002444463905498049,"debt":0.00019063505029100482}},"corp_blockchain_group":{"id":"corp_blockchain_group","level":"venue","name":"Capital B","deployment":null,"venue_type":"corporate_debt","status":"registered","class_id":"corporate","family_id":"blockchain_group","metrics":{"collateral":{"btc":3525,"usd":288114045.89863497,"low":null,"high":null,"kind":"analogue","limitation":"bitcoin the issuer holds and reports, not collateral pledged to its creditors: there is no lien on it","absent_kind":null,"absent_because":null,"observer":"issuer filings — the bitcoin the issuer reports holding","as_of":"2026-09-14","basis":"https://cptlb.com/wp-content/uploads/2026/09/0vcKV41w13/20260914-Capital-B-CP-14-septembre-2026-EN-FINAL.pdf (press release, 2026-09-14): \"Capital B and its subsidiary Capital B Luxembourg SA hold a total of 3,525 BTC as part of the Bitcoin Treasury Company strategy\". Excludes \"an additional 61 BTC for its operational needs... segregated from its Bitcoin reserve\"."},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"all of this issuer's registered debt is outside USD: €82m (≈$93m) in other currencies — shown separately, not in the BTC-USD figures","observer":null},"ltv":{"value":0.32214029690226825,"debt_usd":null,"collateral_usd":null,"kind":"analogue","limitation":"registered debt over the value of the bitcoin held — not an LTV: there is no lien","absent_kind":null,"absent_because":null,"observer":"SEC EDGAR filings","as_of":"2026-09-14","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"no listed instrument of this issuer carries a market price, so there is no price-implied yield","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate lending, not bitcoin-backed credit: the holders of the issuer's listed debt and preferreds lend to it unsecured, with no lien on its bitcoin. What they earn is the issuer's cost, served as the borrow rate, so it is not a lend rate here","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"no lien, so nothing is liquidated: a holder has no claim on the coins","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate issuers borrow against no lien on bitcoin"},"books":{"eur":{"debt":82434625,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"capital_b_oca_a_03,capital_b_oca_a_04,capital_b_oca_a_05,capital_b_oca_b_02,capital_b_oca_b_03,capital_b_oca_b_04","kind":"analogue","limitation":"EUR debt the issuer has filed (capital_b_oca_a_03,capital_b_oca_a_04,capital_b_oca_a_05,capital_b_oca_b_02,capital_b_oca_b_03,capital_b_oca_b_04), at the filed amount: financed by bitcoin it holds, with no lien on it, so not secured by bitcoin (analogue); counted with corporate in view, never in the secured market","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.0037189389471551965,"debt":null},"share_of_market":{"collateral":0.003016430891657954,"debt":null},"vs_parent":{"ltv":-0.01899427372532775,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"corporate","name":"Corporate"}},"secured_view":{"share_of_market":null},"share_of_class":{"collateral":0.0037189389471551965,"debt":null}},"corp_marathon":{"id":"corp_marathon","level":"venue","name":"MARA Holdings","deployment":null,"venue_type":"corporate_debt","status":"registered","class_id":"corporate","family_id":"mara","metrics":{"collateral":{"btc":26307,"usd":2150188994.4554296,"low":null,"high":null,"kind":"analogue","limitation":"bitcoin the issuer holds and reports, not collateral pledged to its creditors: there is no lien on it","absent_kind":null,"absent_because":null,"observer":"issuer filings — the bitcoin the issuer reports holding","as_of":"2026-06-30","basis":"SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 5 DIGITAL ASSETS: \"As of June 30, 2026 ... Quantity Cost Basis Fair Value Bitcoin 26,307 $ 1,889,537 $ 1,540,574\". READ, NOT DERIVED — this closes the pending below on its own terms: the count is absent from XBRL (CryptoAssetNumberOfUnits is untagged for this filer) but present in the filing's own table, so no division by a BTC close was needed. SCOPE: this is bitcoin HELD. The same table reports \"Bitcoin - receivable 9,270\" and \"Total bitcoin holdings 35,577\". The receivable is coin lent to counterparties and not in the company's possession, so it is deliberately EXCLUDED here; a backing ratio built on 35,577 would count collateral the issuer does not hold. Use 35,577 only where the intent is economic exposure, and say which is meant."},"debt":{"usd":3047201000,"low":null,"high":null,"kind":"analogue","limitation":"registered debt financed by bitcoin the issuer holds — no lien on the coins, so not debt secured by them","absent_kind":null,"absent_because":null,"observer":"issuer filings","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it"},"ltv":{"value":1.4171782145000484,"debt_usd":3047201000,"collateral_usd":2150188994.4554296,"kind":"analogue","limitation":"registered debt over the value of the bitcoin held — not an LTV: there is no lien","absent_kind":null,"absent_because":null,"observer":"SEC EDGAR filings","as_of":"2026-06-30","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"no listed instrument of this issuer carries a market price, so there is no price-implied yield","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate lending, not bitcoin-backed credit: the holders of the issuer's listed debt and preferreds lend to it unsecured, with no lien on its bitcoin. What they earn is the issuer's cost, served as the borrow rate, so it is not a lend rate here","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"no lien, so nothing is liquidated: a holder has no claim on the coins","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate issuers borrow against no lien on bitcoin"},"books":{},"debt_all":{"usd":3047201000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":3047201000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":3047201000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":1.4171782145000484,"kind":"converted","debt_usd":3047201000,"collateral_usd":2150188994.4554296,"parts":[{"currency":"usd","debt_usd":3047201000,"collateral_usd":2150188994.4554296}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.027754362236258653,"debt":0.11573057529850632},"share_of_market":{"collateral":0.022511559565062636,"debt":0.09164453219664982},"vs_parent":{"ltv":1.0760436438724525,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"corporate","name":"Corporate"}},"secured_view":{"share_of_market":null},"share_of_class":{"collateral":0.027754362236258653,"debt":0.11573057529850632}},"corp_metaplanet":{"id":"corp_metaplanet","level":"venue","name":"Metaplanet","deployment":null,"venue_type":"corporate_debt","status":"registered","class_id":"corporate","family_id":"metaplanet","metrics":{"collateral":{"btc":43000,"usd":3514582687.5578165,"low":null,"high":null,"kind":"analogue","limitation":"bitcoin the issuer holds and reports, not collateral pledged to its creditors: there is no lien on it","absent_kind":null,"absent_because":null,"observer":"issuer filings — the bitcoin the issuer reports holding","as_of":"2026-08-18","basis":"https://contents.xj-storage.jp/xcontents/33500/c02155bd/0bd0/4333/ac51/6085aab46d18/140120260818522603.pdf (Super League notice, 2026-08-18): \"held 43,000 BTC as of August 18, 2026\". Same count at 2026-06-30 in the Q2 FY2026 Tanshin (https://contents.xj-storage.jp/xcontents/33500/ccef5126/8cc0/4501/b779/01892d97a274/140120260813519694.pdf). 2,100 BTC are to move in kind to Super League (a group subsidiary) in Q4 2026 — still inside the group."},"debt":{"usd":414000000,"low":null,"high":null,"kind":"analogue","limitation":"registered debt financed by bitcoin the issuer holds — no lien on the coins, so not debt secured by them","absent_kind":null,"absent_because":null,"observer":"issuer filings","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it"},"ltv":{"value":0.17478722734536986,"debt_usd":414000000,"collateral_usd":3514582687.5578165,"kind":"analogue","limitation":"registered debt over the value of the bitcoin held — not an LTV: there is no lien","absent_kind":null,"absent_because":null,"observer":"SEC EDGAR filings","as_of":"2026-08-18","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"no listed instrument of this issuer carries a market price, so there is no price-implied yield","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate lending, not bitcoin-backed credit: the holders of the issuer's listed debt and preferreds lend to it unsecured, with no lien on its bitcoin. What they earn is the issuer's cost, served as the borrow rate, so it is not a lend rate here","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"no lien, so nothing is liquidated: a holder has no claim on the coins","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate issuers borrow against no lien on bitcoin"},"books":{"jpy":{"debt":31610000000,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"metaplanet_bond_20,metaplanet_class_b","kind":"analogue","limitation":"JPY debt the issuer has filed (metaplanet_bond_20,metaplanet_class_b), at the filed amount: financed by bitcoin it holds, with no lien on it, so not secured by bitcoin (analogue); counted with corporate in view, never in the secured market","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"JPY: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":0.11779492383708201,"kind":"converted","debt_usd":414000000,"collateral_usd":3514582687.5578165,"parts":[{"currency":"usd","debt_usd":414000000,"collateral_usd":3514582687.5578165}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.04536578006458821,"debt":0.01572343215087604},"share_of_market":{"collateral":0.0367961782528488,"debt":0.012451044853756948},"vs_parent":{"ltv":-0.16634734328222614,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"corporate","name":"Corporate"}},"secured_view":{"share_of_market":null},"share_of_class":{"collateral":0.04536578006458821,"debt":0.01572343215087604}},"corp_riot":{"id":"corp_riot","level":"venue","name":"Riot Platforms","deployment":null,"venue_type":"corporate_debt","status":"registered","class_id":"corporate","family_id":"riot","metrics":{"collateral":{"btc":11380,"usd":930138394.9862314,"low":null,"high":null,"kind":"analogue","limitation":"bitcoin the issuer holds and reports, not collateral pledged to its creditors: there is no lien on it","absent_kind":null,"absent_because":null,"observer":"issuer filings — the bitcoin the issuer reports holding","as_of":"2026-06-30","basis":"SEC EDGAR accession 0001104659-26-093448 (10-Q, period 2026-06-30, filed 2026-08-10), XBRL us-gaap:CryptoAssetNumberOfUnits, unit [item]."},"debt":{"usd":794383000,"low":null,"high":null,"kind":"analogue","limitation":"registered debt financed by bitcoin the issuer holds — no lien on the coins, so not debt secured by them; filed but outside the registered stack, so not added: $20 Million Credit Facility (revolver), cash-collateralized ($20m), $50 Million Credit Facility (revolver), cash-collateralized ($34m), as filed for 2026-06-30","absent_kind":null,"absent_because":null,"observer":"issuer filings","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it"},"ltv":{"value":0.8540481763595609,"debt_usd":794383000,"collateral_usd":930138394.9862314,"kind":"analogue","limitation":"registered debt over the value of the bitcoin held — not an LTV: there is no lien","absent_kind":null,"absent_because":null,"observer":"SEC EDGAR filings","as_of":"2026-06-30","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"no listed instrument of this issuer carries a market price, so there is no price-implied yield","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate lending, not bitcoin-backed credit: the holders of the issuer's listed debt and preferreds lend to it unsecured, with no lien on its bitcoin. What they earn is the issuer's cost, served as the borrow rate, so it is not a lend rate here","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"no lien, so nothing is liquidated: a holder has no claim on the coins","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate issuers borrow against no lien on bitcoin"},"books":{},"debt_all":{"usd":794383000,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":794383000,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":794383000,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.854048176359561,"kind":"converted","debt_usd":794383000,"collateral_usd":930138394.9862314,"parts":[{"currency":"usd","debt_usd":794383000,"collateral_usd":930138394.9862314}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.012006106445000322,"debt":0.03017011401524},"share_of_market":{"collateral":0.009738151360870218,"debt":0.02389105885039132},"vs_parent":{"ltv":0.5129136057319649,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"corporate","name":"Corporate"}},"secured_view":{"share_of_market":null},"share_of_class":{"collateral":0.012006106445000322,"debt":0.03017011401524}},"corp_strategy":{"id":"corp_strategy","level":"venue","name":"Strategy (MicroStrategy)","deployment":null,"venue_type":"corporate_debt","status":"registered","class_id":"corporate","family_id":"strategy","metrics":{"collateral":{"btc":843775,"usd":68965511795.21155,"low":null,"high":null,"kind":"analogue","limitation":"bitcoin the issuer holds and reports, not collateral pledged to its creditors: there is no lien on it","absent_kind":null,"absent_because":null,"observer":"issuer filings — the bitcoin the issuer reports holding","as_of":"2026-07-24","basis":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history."},"debt":{"usd":21291595000,"low":null,"high":21335558098.56,"kind":"analogue","limitation":"registered debt financed by bitcoin the issuer holds — no lien on the coins, so not debt secured by them; preferred stock counted at its stated amount; its liquidation preference (the greatest of $100, the last close and the 10-day average close, per each Certificate of Designations) is up to $44m more, the high bound — dividend arrears not added","absent_kind":null,"absent_because":null,"observer":"issuer filings","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it"},"ltv":{"value":0.32154789289245467,"debt_usd":21291595000,"collateral_usd":68965511795.21155,"kind":"analogue","limitation":"registered debt over the value of the bitcoin held — not an LTV: there is no lien","absent_kind":null,"absent_because":null,"observer":"SEC EDGAR filings","as_of":"2026-07-24","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them"},"borrow":{"value":11.3721357482297,"weight_usd":21291595000,"low":9.669309611293754,"high":13.693002875530604,"kind":"analogue","limitation":"the yield a holder of the issuer's listed instruments receives — the issuer's cost of this capital, with no lien behind it","absent_kind":null,"absent_because":null,"observer":"IEX last sale (IEX HIST); SEC EDGAR terms","as_of":"2026-10-12"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate lending, not bitcoin-backed credit: the holders of the issuer's listed debt and preferreds lend to it unsecured, with no lien on its bitcoin. What they earn is the issuer's cost, served as the borrow rate, so it is not a lend rate here","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"no lien, so nothing is liquidated: a holder has no claim on the coins","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate issuers borrow against no lien on bitcoin"},"books":{"eur":{"debt":775000000,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"strategy_stre","kind":"analogue","limitation":"EUR debt the issuer has filed (strategy_stre), at the filed amount: financed by bitcoin it holds, with no lien on it, so not secured by bitcoin (analogue); counted with corporate in view, never in the secured market","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":0.30872815188008695,"kind":"converted","debt_usd":21291595000,"collateral_usd":68965511795.21155,"parts":[{"currency":"usd","debt_usd":21291595000,"collateral_usd":68965511795.21155}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.89019793195344,"debt":0.808639974315052},"share_of_market":{"collateral":0.7220394257045929,"debt":0.6403444549590028},"vs_parent":{"ltv":-0.019586677735141333,"borrow":-0.060521083332893966,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"corporate","name":"Corporate"}},"secured_view":{"share_of_market":null},"share_of_class":{"collateral":0.89019793195344,"debt":0.808639974315052}},"corp_strive":{"id":"corp_strive","level":"venue","name":"Strive","deployment":null,"venue_type":"corporate_debt","status":"registered","class_id":"corporate","family_id":"strive","metrics":{"collateral":{"btc":19864,"usd":1623573732.6894991,"low":null,"high":null,"kind":"analogue","limitation":"bitcoin the issuer holds and reports, not collateral pledged to its creditors: there is no lien on it","absent_kind":null,"absent_because":null,"observer":"issuer filings — the bitcoin the issuer reports holding","as_of":"2026-06-30","basis":"SEC EDGAR accession 0001628280-26-054985 (10-Q, period 2026-06-30), R35 Digital Assets, at Fair Value — Investment of Digital Assets: \"Approximate number of bitcoin held 19,864\", aggregate fair value $1,164,639 thousand, \"Fair value per bitcoin $58,631\" — the three agree (19,864 x 58,631 = 1,164.6m). READ, NOT DERIVED."},"debt":{"usd":782950200,"low":null,"high":null,"kind":"analogue","limitation":"registered debt financed by bitcoin the issuer holds — no lien on the coins, so not debt secured by them","absent_kind":null,"absent_because":null,"observer":"issuer filings","basis":"registered USD instruments, as last filed — financed BY bitcoin, not backed by it"},"ltv":{"value":0.48223877008838967,"debt_usd":782950200,"collateral_usd":1623573732.6894991,"kind":"analogue","limitation":"registered debt over the value of the bitcoin held — not an LTV: there is no lien","absent_kind":null,"absent_because":null,"observer":"SEC EDGAR filings","as_of":"2026-06-30","basis":"registered debt over the market value of the bitcoin the issuer reports holding. NOT AN LTV: no lien exists over the coins, and a holder has no claim on them"},"borrow":{"value":13.078470824949695,"weight_usd":782950200,"low":13.078470824949697,"high":13.078470824949697,"kind":"analogue","limitation":"the yield a holder of the issuer's listed instruments receives — the issuer's cost of this capital, with no lien behind it","absent_kind":null,"absent_because":null,"observer":"IEX last sale (IEX HIST); SEC EDGAR terms","as_of":"2026-10-12"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate lending, not bitcoin-backed credit: the holders of the issuer's listed debt and preferreds lend to it unsecured, with no lien on its bitcoin. What they earn is the issuer's cost, served as the borrow rate, so it is not a lend rate here","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"no lien, so nothing is liquidated: a holder has no claim on the coins","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"corporate issuers borrow against no lien on bitcoin"},"books":{},"debt_all":{"usd":782950200,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":782950200,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":782950200,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.48223877008838967,"kind":"converted","debt_usd":782950200,"collateral_usd":1623573732.6894991,"parts":[{"currency":"usd","debt_usd":782950200,"collateral_usd":1623573732.6894991}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.02095688035355768,"debt":0.029735904220325664},"share_of_market":{"collateral":0.01699812290266485,"debt":0.023547217532507183},"vs_parent":{"ltv":0.14110419946079367,"borrow":1.645813993387101,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"corporate","name":"Corporate"}},"secured_view":{"share_of_market":null},"share_of_class":{"collateral":0.02095688035355768,"debt":0.029735904220325664}},"crvusd_ethereum":{"id":"crvusd_ethereum","level":"venue","name":"crvUSD (Ethereum)","deployment":"Ethereum","venue_type":"onchain_cdp","status":"ingesting","class_id":"minted","family_id":"crvusd","metrics":{"collateral":{"btc":869.331553927354,"usd":71717101.13188234,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":34011149.68019114,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 4 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.474240441169634,"debt_usd":34011149.68019114,"collateral_usd":71717101.13188234,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 4 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":3.510134387404177,"weight_usd":74153935.23095378,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":41248.9257632463,"debt_usd":34011149.68019114,"headroom_pct":0.502109773050253,"btc_price_ref":82847.43007701098,"threshold_low":0.94,"threshold_high":0.965,"kind":"derived","limitation":"the markets taken together at one threshold (they run 94%–96.5%, which puts it between $40,715 and $41,797); debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/curve.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":34011149.68019114,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":34011149.68019114,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":34011149.68019114,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.474240441169634,"kind":"converted","debt_usd":34011149.68019114,"collateral_usd":71717101.13188234,"parts":[{"currency":"usd","debt_usd":34011149.68019114,"collateral_usd":71717101.13188234}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.6163034541153164,"debt":0.9143010402247083},"share_of_market":{"collateral":0.0007439088097473711,"debt":0.0010228849038548338},"vs_parent":{"ltv":0.04467880590175821,"borrow":-4.161211606254213,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.003938106366258198,"debt":0.004914840427988476}},"share_of_class":{"collateral":0.6163034541153164,"debt":0.9143010402247083}},"current_sui":{"id":"current_sui","level":"venue","name":"Current (Sui)","deployment":"Sui","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"current","metrics":{"collateral":{"btc":34.74216335407353,"usd":2834102.5045654103,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":50304775.773877785,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 2.4% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":4.258280744228055,"weight_usd":50304775.77387778,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.279797583743141,"weight_usd":76312008.81513366,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":50304775.773877785,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":50304775.773877785,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":50304775.773877785,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00021640454024313426,"debt":null},"share_of_market":{"collateral":0.00002972974036432747,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.6373094394501475,"lend":-1.0927126593550671,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00015738337584108043,"debt":null}},"share_of_class":{"collateral":0.00021640454024313426,"debt":null}},"curvance_monad":{"id":"curvance_monad","level":"venue","name":"Curvance (Monad)","deployment":"Monad","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"curvance","metrics":{"collateral":{"btc":551.4734226646,"usd":45665518.58403519,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":4.302853765468905,"weight_usd":264707.89147251553,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":32.46513844,"collateral_btc":551.3305442846,"ltv":0.05888507135429323,"borrow_rate":null,"denomination_asset":"WBTC","kind":"exact","limitation":"bitcoin lent against bitcoin in 1 market(s), in wrapper units (WBTC) — a wrapper is not BTC; debt and collateral wrappers are taken at par for the ratio (each is pegged within 50 bps, asset_peg). A separate book: never added to the dollar figures","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":32.46513844,"collateral_btc":551.3305442846,"ltv":0.05888507135429323,"borrow_rate":null,"asset":"WBTC","kind":"exact","limitation":"bitcoin lent against bitcoin in 1 market(s), in wrapper units (WBTC) — a wrapper is not BTC; debt and collateral wrappers are taken at par for the ratio (each is pegged within 50 bps, asset_peg). A separate book: never added to the dollar figures","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":32.46513844,"ltv_collateral_btc":551.3305442846,"venue_priced":null}},"debt_all":{"usd":2653521.2444277154,"kind":"converted","parts":[{"currency":"btc","basis":"native","native":32.46513844,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":2653521.2444277154,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.05888507135429324,"kind":"converted","debt_usd":2653521.2444277154,"collateral_usd":45062715.95498798,"parts":[{"currency":"btc","debt_usd":2653521.2444277154,"collateral_usd":45062715.95498798,"rate_series":"price.btc_in_basket","btc_rate_series":"price.btc_in_basket","rate_date":"2026-10-12","btc_rate_date":"2026-10-12"}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (btc): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0034350581819496163,"debt":null},"share_of_market":{"collateral":0.0004719096363273314,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":0.9303435223706971,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0024981964439302323,"debt":null}},"share_of_class":{"collateral":0.0034350581819496163,"debt":null}},"curve_llamalend_arbitrum":{"id":"curve_llamalend_arbitrum","level":"venue","name":"Curve LlamaLend (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"curve_llamalend","metrics":{"collateral":{"btc":1.57936338,"usd":130227.59553419406,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":69395.35392829408,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 2 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.5328774876295158,"debt_usd":69395.35392829408,"collateral_usd":130227.59553419406,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 2 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":46227.78051937131,"debt_usd":69395.35392829408,"headroom_pct":0.4420131019586222,"btc_price_ref":82847.43007701098,"threshold_low":0.94,"threshold_high":0.965,"kind":"derived","limitation":"the markets taken together at one threshold (they run 94%–96.5%, which puts it between $45,749 and $46,965); debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/curve.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":69395.35392829408,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":69395.35392829408,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":69395.35392829408,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.5328774876295158,"kind":"converted","debt_usd":69395.35392829408,"collateral_usd":130227.59553419406,"parts":[{"currency":"usd","debt_usd":69395.35392829408,"collateral_usd":130227.59553419406}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.023951244882717698,"debt":0.02443767726093214},"share_of_market":{"collateral":0.0000013515008478256226,"debt":0.000002087064406771807},"vs_parent":{"ltv":0.011818358679171692,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"curve_llamalend","name":"Curve LlamaLend"}},"secured_view":{"share_of_market":{"collateral":0.000007154578656801886,"debt":0.00001002809649801382}},"share_of_class":{"collateral":0.000009837654686108329,"debt":0.000015548743226892398}},"curve_llamalend_ethereum":{"id":"curve_llamalend_ethereum","level":"venue","name":"Curve LlamaLend (Ethereum)","deployment":"Ethereum","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"curve_llamalend","metrics":{"collateral":{"btc":62.6768225862352,"usd":5180204.66375274,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":2705446.3330258867,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 3 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.5222663019391124,"debt_usd":2705446.3330258867,"collateral_usd":5180204.66375274,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 3 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":2.5897703216408194,"weight_usd":70535915.02300654,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days","observer":null},"liquidation":{"btc_price":44837.741897906446,"debt_usd":2705446.3330258867,"headroom_pct":0.45879139695428767,"btc_price_ref":82847.43007701098,"threshold_low":0.965,"threshold_high":0.965,"kind":"derived","limitation":"the markets taken together at one threshold; debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/curve.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":2705446.3330258867,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":2705446.3330258867,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2705446.3330258867,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.5222663019391124,"kind":"converted","debt_usd":2705446.3330258867,"collateral_usd":5180204.66375274,"parts":[{"currency":"usd","debt_usd":2705446.3330258867,"collateral_usd":5180204.66375274}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.950501920738197,"debt":0.9527269563546734},"share_of_market":{"collateral":0.00005363412874896023,"debt":0.00008136626483559801},"vs_parent":{"ltv":0.001207172988768268,"borrow":0,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"curve_llamalend","name":"Curve LlamaLend"}},"secured_view":{"share_of_market":{"collateral":0.00028392848842147825,"debt":0.0003909552349255979}},"share_of_class":{"collateral":0.0003904059985396502,"debt":0.0006061830938973818}},"curve_llamalend_optimism":{"id":"curve_llamalend_optimism","level":"venue","name":"Curve LlamaLend (Optimism)","deployment":"Optimism","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"curve_llamalend","metrics":{"collateral":{"btc":1.68457777,"usd":139404.08705946547,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":64845.292595,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 1 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.4651606273734213,"debt_usd":64845.292595,"collateral_usd":139404.08705946547,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 1 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":40247.898225481025,"debt_usd":64845.292595,"headroom_pct":0.5141925562679673,"btc_price_ref":82847.43007701098,"threshold_low":0.95,"threshold_high":0.965,"kind":"derived","limitation":"the markets taken together at one threshold (they run 95%–96.5%, which puts it between $39,935 and $40,566); debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/curve.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":64845.292595,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":64845.292595,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":64845.292595,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.4651606273734213,"kind":"converted","debt_usd":64845.292595,"collateral_usd":139404.08705946547,"parts":[{"currency":"usd","debt_usd":64845.292595,"collateral_usd":139404.08705946547}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.025546834379085382,"debt":0.02283536638439446},"share_of_market":{"collateral":0.0000014415354396675937,"debt":0.0000019502213687327013},"vs_parent":{"ltv":-0.05589850157692283,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"curve_llamalend","name":"Curve LlamaLend"}},"secured_view":{"share_of_market":{"collateral":0.000007631204010165739,"debt":0.000009370581959370468}},"share_of_class":{"collateral":0.00001049302181056928,"debt":0.00001452925515841011}},"dolomite_arbitrum":{"id":"dolomite_arbitrum","level":"venue","name":"Dolomite (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"dolomite","metrics":{"collateral":{"btc":55.7099120213554,"usd":4607302.685111339,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":2931433.0052141105,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 22.5% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 74% · contract_read 26% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":7.763892923331044,"weight_usd":2931433.0052141105,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":4.431518032953612,"weight_usd":4175281.898131682,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.869565,"threshold_high":0.869565,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/dolomite.json, as read on 2026-10-01","basis":"1 / minimum collateralisation (1.15)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":2931433.0052141105,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":2931433.0052141105,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2931433.0052141105,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.777999339990513,"debt":null},"share_of_market":{"collateral":0.00004767236867879808,"debt":null},"vs_parent":{"ltv":null,"borrow":2.9815489797254653,"lend":1.6298631606298302,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"dolomite","name":"Dolomite"}},"secured_view":{"share_of_market":{"collateral":0.0002523681076613921,"debt":null}},"share_of_class":{"collateral":0.00034700999402656127,"debt":null}},"dolomite_berachain":{"id":"dolomite_berachain","level":"venue","name":"Dolomite (Berachain)","deployment":"Berachain","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"dolomite","metrics":{"collateral":{"btc":8.148406556765366,"usd":673977.2165473477,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1993477.3087717406,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 2.4% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":5.929018601970797,"weight_usd":1993477.3087717406,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.6674731276507266,"weight_usd":2814632.8714195564,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.869565,"threshold_high":0.869565,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/dolomite.json, as read on 2026-10-01","basis":"1 / minimum collateralisation (1.15)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":1993477.3087717406,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1993477.3087717406,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1993477.3087717406,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.11379402144285752,"debt":null},"share_of_market":{"collateral":0.000006972795817195822,"debt":null},"vs_parent":{"ltv":null,"borrow":1.1466746583652183,"lend":0.8658182553269449,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"dolomite","name":"Dolomite"}},"secured_view":{"share_of_market":{"collateral":0.00003691260439252304,"debt":null}},"share_of_class":{"collateral":0.000050755393573503416,"debt":null}},"dolomite_ethereum":{"id":"dolomite_ethereum","level":"venue","name":"Dolomite (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"dolomite","metrics":{"collateral":{"btc":7.748312890274491,"usd":640106.8656765631,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":316509447.6486975,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 0.1% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":4.747507444790975,"weight_usd":316509447.6486975,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.780478941430165,"weight_usd":436443560.35908335,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.85,"threshold_high":0.85,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/dolomite.json, as read on 2026-10-01","basis":"1 / minimum collateralisation (1.1764705882352942)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":316509447.6486975,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":316509447.6486975,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":316509447.6486975,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.10820663856662961,"debt":null},"share_of_market":{"collateral":0.000006630425634171774,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.03483649881460327,"lend":-0.0211759308936168,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"dolomite","name":"Dolomite"}},"secured_view":{"share_of_market":{"collateral":0.000035100164238948484,"debt":null}},"share_of_class":{"collateral":0.00004826326074145293,"debt":null}},"echelon_market_aptos":{"id":"echelon_market_aptos","level":"venue","name":"Echelon Market (Aptos)","deployment":"Aptos","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"echelon_market","metrics":{"collateral":{"btc":6.52966698,"usd":543449.3375856115,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":10185830.63659471,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 2.8% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 75% · contract_read 25% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":6.536252355077709,"weight_usd":10185830.63659471,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.475347679030978,"weight_usd":13048523.192907741,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":10185830.63659471,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":10185830.63659471,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":10185830.63659471,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.000040672469539292355,"debt":null},"share_of_market":{"collateral":0.00000558759977041444,"debt":null},"vs_parent":{"ltv":null,"borrow":1.640662171399506,"lend":0.10283743593276995,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00002957965000501153,"debt":null}},"share_of_class":{"collateral":0.000040672469539292355,"debt":null}},"etherfi_borrowing_optimism":{"id":"etherfi_borrowing_optimism","level":"venue","name":"EtherFi Borrowing (Optimism)","deployment":"Optimism","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"etherfi_borrowing","metrics":{"collateral":{"btc":16.63652547,"usd":1383183.4874984443,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":17844.517180685787,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $3m more is owed in dollars by 300 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 18 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.25923928085713405,"debt_usd":17844.517180685787,"collateral_usd":68834.15631182777,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.009534020258295,"weight_usd":39540981.705630966,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":1.599004722888799,"weight_usd":61321978.54724874,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":30205.391312928296,"debt_usd":17844.517180685787,"headroom_pct":0.6398019083189384,"btc_price_ref":83857.72165521003,"threshold_low":0.7199365315135459,"threshold_high":0.7199365315135459,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it)","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null}},"debt_all":{"usd":17844.517180685787,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":17844.517180685787,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":17844.517180685787,"share":1},{"currency":"btc","basis":"native","native":0,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":0,"share":0}],"limitation":"all debt secured by bitcoin here in 2 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.25923928085713405,"kind":"converted","debt_usd":17844.517180685787,"collateral_usd":68834.15631182777,"parts":[{"currency":"usd","debt_usd":17844.517180685787,"collateral_usd":68834.15631182777}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.00010362681243787357,"debt":0.000003998247720402884},"share_of_market":{"collateral":0.000014236292016329748,"debt":5.366736323921624e-7},"vs_parent":{"ltv":-0.19569602521117213,"borrow":-0.8860561634199078,"lend":-1.773505520209409,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000075364119213023,"debt":0.0000025786530382608507}},"share_of_class":{"collateral":0.00010362681243787357,"debt":0.000003998247720402884}},"euler_v2_arbitrum":{"id":"euler_v2_arbitrum","level":"venue","name":"Euler v2 (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"btc":0.3979548,"usd":32972.278324284,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":328086.8915562,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 3.4% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 68% · contract_read 32% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":13.911183722069005,"weight_usd":328086.8915562,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":9.00393731204712,"weight_usd":416730.8051070333,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.84,"threshold_high":0.97,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/euler.json, as read on 2026-10-01","basis":"liquidation LTV (USD₮0 vault eUSD₮0-1); liquidation LTV (USD₮0 vault eUSD₮0-7); liquidation LTV (USDC vault eUSDC-1); liquidation LTV (WETH vault eWETH-1); liquidation LTV (wstETH vault ewstETH-1)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":328086.8915562,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":328086.8915562,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":328086.8915562,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.003987615546113551,"debt":null},"share_of_market":{"collateral":3.4053990133434404e-7,"debt":null},"vs_parent":{"ltv":null,"borrow":4.7647069599812575,"lend":1.8051224354565658,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":0.0000018027510036682395,"debt":null}},"share_of_class":{"collateral":0.000002478810103270409,"debt":null}},"euler_v2_avalanche":{"id":"euler_v2_avalanche","level":"venue","name":"Euler v2 (Avalanche)","deployment":"Avalanche","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"btc":5.65968127,"usd":468395.5704478984,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":32284731.355817966,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 1.4% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"contract_read 69% · aggregator_defillama 31% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":15.436671834999213,"weight_usd":32284731.355817966,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":13.891711506566212,"weight_usd":32287746.542895216,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.75,"threshold_high":0.85,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/euler.json, as read on 2026-10-01","basis":"liquidation LTV (AUSD vault eAUSD-2); liquidation LTV (USDC vault eUSDC-15); liquidation LTV (USDC vault eUSDC-17); liquidation LTV (USDC vault eUSDC-19); liquidation LTV (USDC vault eUSDC-2); liquidation LTV (USDC vault eUSDC-5); liquidation LTV (USDt vault eUSDt-2); liquidation LTV (USDt vault eUSDt-3); liquidation LTV (WAVAX vault eWAVAX-5); liquidation LTV (WETH.e vault eWETH.e-5)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":32284731.355817966,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":32284731.355817966,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":32284731.355817966,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.05671154869422277,"debt":null},"share_of_market":{"collateral":0.000004843131182912318,"debt":null},"vs_parent":{"ltv":null,"borrow":6.290195072911466,"lend":6.6928966299756585,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":0.000025638580285838584,"debt":null}},"share_of_class":{"collateral":0.000035253438615054524,"debt":null}},"euler_v2_base":{"id":"euler_v2_base","level":"venue","name":"Euler v2 (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"btc":4.51177257,"usd":372754.83434825664,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":913250.8076880138,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 2.8% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 64% · contract_read 36% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":14.46456670344429,"weight_usd":913250.8076880138,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":9.24585822602661,"weight_usd":1332470.6467795724,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.7,"threshold_high":0.92,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/euler.json, as read on 2026-10-01","basis":"liquidation LTV (AERO vault eAERO-1); liquidation LTV (cbBTC vault ecbBTC-1); liquidation LTV (cbBTC vault ecbBTC-3); liquidation LTV (cbETH vault ecbETH-1); liquidation LTV (cbETH vault ecbETH-7); liquidation LTV (LBTC vault eLBTC-1); liquidation LTV (USDC vault eUSDC-1); liquidation LTV (USDC vault eUSDC-104); liquidation LTV (USDC vault eUSDC-113); liquidation LTV (USDC vault eUSDC-24); liquidation LTV (USDC vault eUSDC-32); liquidation LTV (USDC vault eUSDC-91); liquidation LTV (USR vault eUSR-2); liquidation LTV (weETH vault eweETH-1); liquidation LTV (WETH vault eWETH-1); liquidation LTV (WETH vault eWETH-36); liquidation LTV (wstETH vault ewstETH-1)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":913250.8076880138,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":913250.8076880138,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":913250.8076880138,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.045209190693668445,"debt":null},"share_of_market":{"collateral":0.0000038608369237682264,"debt":null},"vs_parent":{"ltv":null,"borrow":5.3180899413565434,"lend":2.0470433494360556,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":0.000020438508415755588,"debt":null}},"share_of_class":{"collateral":0.000028103260546610567,"debt":null}},"euler_v2_bsc":{"id":"euler_v2_bsc","level":"venue","name":"Euler v2 (BSC)","deployment":"BSC","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"btc":0.228189056830557,"usd":18904.303790216953,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":12321028.37129085,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 0.1% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 63% · contract_read 37% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":0.19975152865925525,"weight_usd":12321028.371290851,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":0.16907696354448007,"weight_usd":13101647.19862216,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.665,"threshold_high":0.85,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/euler.json, as read on 2026-10-01","basis":"liquidation LTV (BTCB vault eBTCB-4); liquidation LTV (lisUSD vault elisUSD-2); liquidation LTV (USD1 vault eUSD1-2); liquidation LTV (USDC vault eUSDC-1); liquidation LTV (USDC vault eUSDC-2); liquidation LTV (USDC vault eUSDC-3); liquidation LTV (USDT vault eUSDT-1); liquidation LTV (USDT vault eUSDT-2); liquidation LTV (USDT vault eUSDT-3); liquidation LTV (USDT vault eUSDT-4); liquidation LTV (USDX vault eUSDX-1); liquidation LTV (WBNB vault eWBNB-2); liquidation LTV (WBNB vault eWBNB-4); liquidation LTV (WBNB vault eWBNB-5); liquidation LTV (WBNB vault eWBNB-6)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":12321028.37129085,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":12321028.37129085,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":12321028.37129085,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.0022865165352208786,"debt":null},"share_of_market":{"collateral":1.9526709791829352e-7,"debt":null},"vs_parent":{"ltv":null,"borrow":-8.946725233428491,"lend":-7.029737913046073,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":0.0000010337054641064653,"debt":null}},"share_of_class":{"collateral":0.000001421360766417016,"debt":null}},"euler_v2_ethereum":{"id":"euler_v2_ethereum","level":"venue","name":"Euler v2 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"btc":7.3771531,"usd":610244.9510601275,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":36560812.35023107,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 1.1% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"contract_read 68% · aggregator_defillama 32% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":10.247485350102107,"weight_usd":36560812.35023107,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":6.6304020888142645,"weight_usd":50000150.526515044,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.7,"threshold_high":0.95,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/euler.json, as read on 2026-10-01","basis":"liquidation LTV (cbBTC vault ecbBTC-3); liquidation LTV (cbBTC vault ecbBTC-4); liquidation LTV (cbBTC vault ecbBTC-5); liquidation LTV (EURC vault eEURC-1); liquidation LTV (USDC vault eUSDC-112); liquidation LTV (USDC vault eUSDC-2); liquidation LTV (USDC vault eUSDC-98); liquidation LTV (USDtb vault eUSDtb-2); liquidation LTV (USDT vault eUSDT-2); liquidation LTV (USDT vault eUSDT-37); liquidation LTV (USR vault eUSR-1); liquidation LTV (WBTC vault eWBTC-3); liquidation LTV (WBTC vault eWBTC-9); liquidation LTV (WETH vault eWETH-2); liquidation LTV (wstETH vault ewstETH-2)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":36560812.35023107,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":36560812.35023107,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":36560812.35023107,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.07392108447396482,"debt":null},"share_of_market":{"collateral":0.00000631281489456177,"debt":null},"vs_parent":{"ltv":null,"borrow":1.1010085880143592,"lend":-0.568412787776289,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":0.0000334187956904635,"debt":null}},"share_of_class":{"collateral":0.00004595135336388107,"debt":null}},"euler_v2_hyperliquid_l1":{"id":"euler_v2_hyperliquid_l1","level":"venue","name":"Euler v2 (Hyperliquid L1)","deployment":"Hyperliquid L1","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"btc":1.56745383,"usd":130008.28990263518,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":334172.0278491011,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 5.7% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 81% · contract_read 19% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":11.237008058183973,"weight_usd":334172.0278491011,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":9.324461042398562,"weight_usd":499979.6920388547,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.82,"threshold_high":0.88,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/euler.json, as read on 2026-10-01","basis":"liquidation LTV (kHYPE vault ekHYPE-3); liquidation LTV (kHYPE vault ekHYPE-4); liquidation LTV (UETH vault eUETH-1); liquidation LTV (USD₮0 vault eUSD₮0-2); liquidation LTV (USD₮0 vault eUSD₮0-3); liquidation LTV (USDC vault eUSDC-3); liquidation LTV (USDC vault eUSDC-4); liquidation LTV (USDXL vault eUSDXL-1); liquidation LTV (WHYPE vault eWHYPE-2); liquidation LTV (WHYPE vault eWHYPE-3); liquidation LTV (wstHYPE vault ewstHYPE-1)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":334172.0278491011,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":334172.0278491011,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":334172.0278491011,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.015706314537035932,"debt":null},"share_of_market":{"collateral":0.0000013413095472509432,"debt":null},"vs_parent":{"ltv":null,"borrow":2.0905312960962252,"lend":2.125646165808009,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":0.0000071006279236640095,"debt":null}},"share_of_class":{"collateral":0.000009763471605855485,"debt":null}},"euler_v2_monad":{"id":"euler_v2_monad","level":"venue","name":"Euler v2 (Monad)","deployment":"Monad","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"btc":80.05548033,"usd":6543293.144463798,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":68049869.2289701,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 5.3% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 68% · contract_read 32% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":7.085976755886571,"weight_usd":68049869.2289701,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":5.860708096199007,"weight_usd":74821632.86599202,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.86,"threshold_high":0.86,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/euler.json, as read on 2026-10-01","basis":"liquidation LTV (USDC vault eUSDC-4); liquidation LTV (USDT0 vault eUSDT0-2)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":68049869.2289701,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":68049869.2289701,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":68049869.2289701,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.8021777295197735,"debt":null},"share_of_market":{"collateral":0.00006850548196139792,"debt":null},"vs_parent":{"ltv":null,"borrow":-2.0605000062011767,"lend":-1.3381067803915467,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":0.0003626544962243212,"debt":null}},"share_of_class":{"collateral":0.0004986554590224053,"debt":null}},"euler_v2_unichain":{"id":"euler_v2_unichain","level":"venue","name":"Euler v2 (Unichain)","deployment":"Unichain","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.78,"threshold_high":0.88,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/euler.json, as read on 2026-10-01","basis":"liquidation LTV (sUSDC vault esUSDC-1); liquidation LTV (USD₮0 vault eUSD₮0-1); liquidation LTV (USDC vault eUSDC-1); liquidation LTV (weETH vault eweETH-1); liquidation LTV (WETH vault eWETH-1); liquidation LTV (wstETH vault ewstETH-1)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"exactly_optimism":{"id":"exactly_optimism","level":"venue","name":"Exactly (Optimism)","deployment":"Optimism","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"exactly","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"extra_finance_xlend_base":{"id":"extra_finance_xlend_base","level":"venue","name":"Extra Finance xLend (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"extra_finance_xlend","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":382721.56666666665,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (no bitcoin in the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":3.454669885489425,"weight_usd":382721.56666666665,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":1.7296309610118057,"weight_usd":682207.3666666667,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":382721.56666666665,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":382721.56666666665,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":382721.56666666665,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":0,"lend":0,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"extra_finance_xlend","name":"Extra Finance xLend"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"extra_finance_xlend_optimism":{"id":"extra_finance_xlend_optimism","level":"venue","name":"Extra Finance xLend (Optimism)","deployment":"Optimism","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"extra_finance_xlend","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"extra_finance_xlend","name":"Extra Finance xLend"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"felix_cdp_hyperliquid_l1":{"id":"felix_cdp_hyperliquid_l1","level":"venue","name":"Felix CDP (Hyperliquid L1)","deployment":"Hyperliquid L1","venue_type":"onchain_cdp","status":"ingesting","class_id":"minted","family_id":"felix_cdp","metrics":{"collateral":{"btc":21.031700007073397,"usd":1738157.0323063652,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":450859.2260592382,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 1 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.2593892368061773,"debt_usd":450859.2260592382,"collateral_usd":1738157.0323063652,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 1 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":4.9711169305543725,"weight_usd":9785462.483985914,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold (LLTV) is ingested for this venue's bitcoin markets","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":450859.2260592382,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":450859.2260592382,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":450859.2260592382,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.2593892368061773,"kind":"converted","debt_usd":450859.2260592382,"collateral_usd":1738157.0323063652,"parts":[{"currency":"usd","debt_usd":450859.2260592382,"collateral_usd":1738157.0323063652}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.014910202329271056,"debt":0.012120174215132612},"share_of_market":{"collateral":0.00001799735307955149,"debt":0.000013559585619308499},"vs_parent":{"ltv":-0.17017239846169846,"borrow":-2.7002290631040173,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.00009527443392214615,"debt":0.00006515219780583102}},"share_of_class":{"collateral":0.014910202329271056,"debt":0.012120174215132612}},"fira_ethereum":{"id":"fira_ethereum","level":"venue","name":"Fira (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"fira","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"fluid_lending_arbitrum":{"id":"fluid_lending_arbitrum","level":"venue","name":"Fluid Lending (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"fluid_lending","metrics":{"collateral":{"btc":84.31597015,"usd":6891522.069158874,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":3363456.2132173446,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 3 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.4938732642199981,"debt_usd":3363456.2132173446,"collateral_usd":6810363.015964107,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 3 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":6.360343094743443,"weight_usd":69344252.6310287,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days","observer":null},"liquidation":{"btc_price":46495.603095876664,"debt_usd":3363456.2132173446,"headroom_pct":0.43878038156818394,"btc_price_ref":82847.43007701098,"threshold_low":0.85,"threshold_high":0.93,"kind":"derived","limitation":"the markets taken together at one threshold (they run 85%–93%, which puts it between $43,996 and $48,137); debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/fluid.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{"eth":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":59887.349872931256,"limitation":"ETH lent against bitcoin (ETH), observed only as the venue's own USD valuation (contract_read); a ETH amount is never derived from it"}}},"debt_all":{"usd":3423343.563090276,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":3363456.2132173446,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":3363456.2132173446,"share":0.982506181816332},{"currency":"eth","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":59887.349872931256,"share":0.017493818183667936}],"limitation":"all debt secured by bitcoin here in 2 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.4938732642199981,"kind":"converted","debt_usd":3363456.2132173446,"collateral_usd":6810363.015964107,"parts":[{"currency":"usd","debt_usd":3363456.2132173446,"collateral_usd":6810363.015964107}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.104321585270353,"debt":0.11639016137215222},"share_of_market":{"collateral":0.00007215128993491346,"debt":0.00010115590380293878},"vs_parent":{"ltv":0.043301326842933974,"borrow":0.1603757718585559,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"fluid_lending","name":"Fluid Lending"}},"secured_view":{"share_of_market":{"collateral":0.0003819546838313643,"debt":0.00048604209883906313}},"share_of_class":{"collateral":0.0005251935111094683,"debt":0.0007536169794342592}},"fluid_lending_base":{"id":"fluid_lending_base","level":"venue","name":"Fluid Lending (Base)","deployment":"Base","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"fluid_lending","metrics":{"collateral":{"btc":68.74194544,"usd":5618587.240755069,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1831301.0971519721,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 3 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.46736199180031673,"debt_usd":1831301.0971519721,"collateral_usd":3918378.321903435,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 3 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":5.265451392018132,"weight_usd":8180752.723508482,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days","observer":null},"liquidation":{"btc_price":45552.63521921097,"debt_usd":1831301.0971519721,"headroom_pct":0.45016236258786263,"btc_price_ref":82847.43007701098,"threshold_low":0.78,"threshold_high":0.9,"kind":"derived","limitation":"the markets taken together at one threshold (they run 78%–90%, which puts it between $43,022 and $49,641); debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/fluid.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{"eth":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":285675.91943308874,"limitation":"ETH lent against bitcoin (ETH), observed only as the venue's own USD valuation (contract_read); a ETH amount is never derived from it"}},"eur":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":596843.2403851029,"limitation":"EUR lent against bitcoin (EURC), observed only as the venue's own USD valuation (contract_read); a EUR amount is never derived from it"}}},"debt_all":{"usd":2713820.256970164,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1831301.0971519721,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1831301.0971519721,"share":0.674805596445994},{"currency":"eth","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":285675.91943308874,"share":0.10526707459691186},{"currency":"eur","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":596843.2403851029,"share":0.2199273289570941}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.46736199180031673,"kind":"converted","debt_usd":1831301.0971519721,"collateral_usd":3918378.321903435,"parts":[{"currency":"usd","debt_usd":1831301.0971519721,"collateral_usd":3918378.321903435}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.08505231820390687,"debt":0.06337095437155439},"share_of_market":{"collateral":0.00005882420646181039,"debt":0.00005507635773278627},"vs_parent":{"ltv":0.0167900544232526,"borrow":-0.9345159308667546,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"fluid_lending","name":"Fluid Lending"}},"secured_view":{"share_of_market":{"collateral":0.0003114037351379286,"debt":0.00026463535495668025}},"share_of_class":{"collateral":0.00042818488148688047,"debt":0.00041032185757226413}},"fluid_lending_ethereum":{"id":"fluid_lending_ethereum","level":"venue","name":"Fluid Lending (Ethereum)","deployment":"Ethereum","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"fluid_lending","metrics":{"collateral":{"btc":638.6647305559852,"usd":52200930.35269403,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":23098147.46488015,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 10 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.44369641824254863,"debt_usd":23098147.46488015,"collateral_usd":52058449.23511067,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 10 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":6.183950998426603,"weight_usd":204068613.0372939,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days","observer":null},"liquidation":{"btc_price":40843.453317521955,"debt_usd":23098147.46488015,"headroom_pct":0.5070039797305016,"btc_price_ref":82847.43007701098,"threshold_low":0.8,"threshold_high":0.97,"kind":"derived","limitation":"the markets taken together at one threshold (they run 80%–97%, which puts it between $37,896 and $45,949); debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/fluid.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{"eth":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":83802.18776797659,"limitation":"ETH lent against bitcoin (ETH), observed only as the venue's own USD valuation (contract_read); a ETH amount is never derived from it"}}},"debt_all":{"usd":23181949.652648125,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":23098147.46488015,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":23098147.46488015,"share":0.9963850241664897},{"currency":"eth","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":83802.18776797659,"share":0.0036149758335103487}],"limitation":"all debt secured by bitcoin here in 2 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.44369641824254863,"kind":"converted","debt_usd":23098147.46488015,"collateral_usd":52058449.23511067,"parts":[{"currency":"usd","debt_usd":23098147.46488015,"collateral_usd":52058449.23511067}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.7902004451746587,"debt":0.7992960039945217},"share_of_market":{"collateral":0.0005465214248685042,"debt":0.0006946764978838529},"vs_parent":{"ltv":-0.0068755191345155064,"borrow":-0.016016324458283826,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"fluid_lending","name":"Fluid Lending"}},"secured_view":{"share_of_market":{"collateral":0.002893176521598202,"debt":0.0033378380336890304}},"share_of_class":{"collateral":0.00397816180808637,"debt":0.005175377653083552}},"fluid_lending_polygon":{"id":"fluid_lending_polygon","level":"venue","name":"Fluid Lending (Polygon)","deployment":"Polygon","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"fluid_lending","metrics":{"collateral":{"btc":16.50865068,"usd":1349325.9970899436,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":605209.7523423198,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 3 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.44852745270420935,"debt_usd":605209.7523423198,"collateral_usd":1349325.9970899436,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 3 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":3.7180950818659966,"weight_usd":83672.79002764377,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":47640.18817375876,"debt_usd":605209.7523423198,"headroom_pct":0.42496480422537264,"btc_price_ref":82847.43007701098,"threshold_low":0.77,"threshold_high":0.83,"kind":"derived","limitation":"the markets taken together at one threshold (they run 77%–83%, which puts it between $44,770 and $48,259); debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/fluid.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":605209.7523423198,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":605209.7523423198,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":605209.7523423198,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.44852745270420935,"kind":"converted","debt_usd":605209.7523423198,"collateral_usd":1349325.9970899436,"parts":[{"currency":"usd","debt_usd":605209.7523423198,"collateral_usd":1349325.9970899436}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.02042565135108145,"debt":0.02094288026177169},"share_of_market":{"collateral":0.000014126866351983571,"debt":0.000018201675778611978},"vs_parent":{"ltv":-0.002044484672854785,"borrow":-2.4818722410188903,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"fluid_lending","name":"Fluid Lending"}},"secured_view":{"share_of_market":{"collateral":0.00007478484135026983,"debt":0.00008745688946696641}},"share_of_class":{"collateral":0.00010283029654861786,"debt":0.0001356034735020653}},"folks_finance_lending_algorand":{"id":"folks_finance_lending_algorand","level":"venue","name":"Folks Finance Lending (Algorand)","deployment":"Algorand","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"folks_finance_lending","metrics":{"collateral":{"btc":0.21686694,"usd":18044.946796433716,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":3753889.0918923332,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 0.0% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 77% · contract_read 23% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":11.023612070119027,"weight_usd":3753889.0918923332,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":7.263632453356762,"weight_usd":4443888.950099333,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":3753889.0918923332,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":3753889.0918923332,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":3753889.0918923332,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.0000013508367330594772,"debt":null},"share_of_market":{"collateral":1.8557847863697363e-7,"debt":null},"vs_parent":{"ltv":null,"borrow":6.128021886440824,"lend":3.8911222102585543,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":9.824158264894905e-7,"debt":null}},"share_of_class":{"collateral":0.0000013508367330594772,"debt":null}},"folks_finance_xchain_avalanche":{"id":"folks_finance_xchain_avalanche","level":"venue","name":"Folks Finance xChain (Avalanche)","deployment":"Avalanche","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"folks_finance_xchain","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"folks_finance_xchain","name":"Folks Finance xChain"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"folks_finance_xchain_base":{"id":"folks_finance_xchain_base","level":"venue","name":"Folks Finance xChain (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"folks_finance_xchain","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"folks_finance_xchain","name":"Folks Finance xChain"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"folks_finance_xchain_ethereum":{"id":"folks_finance_xchain_ethereum","level":"venue","name":"Folks Finance xChain (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"folks_finance_xchain","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"folks_finance_xchain","name":"Folks Finance xChain"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"folks_finance_xchain_monad":{"id":"folks_finance_xchain_monad","level":"venue","name":"Folks Finance xChain (Monad)","deployment":"Monad","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"folks_finance_xchain","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"folks_finance_xchain","name":"Folks Finance xChain"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"frankencoin_ethereum":{"id":"frankencoin_ethereum","level":"venue","name":"Frankencoin (Ethereum)","deployment":"Ethereum","venue_type":"onchain_cdp","status":"ingesting","class_id":"minted","family_id":"frankencoin","metrics":{"collateral":{"btc":361.19997252999997,"usd":29522492.33023946,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this venue's debt is outside USD: ≈$16m borrowed in CHF against bitcoin (30-day mean) — shown separately, not in the BTC-USD figures","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"collateral is read here and the debt against it is not, so there is no numerator — an LTV of zero would be false","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold (LLTV) is ingested for this venue's bitcoin markets","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{"chf":{"debt":13163835.229080327,"collateral_btc":361.19997252999997,"ltv":null,"borrow_rate":null,"asset":"ZCHF","kind":"exact","limitation":"CHF lent against bitcoin in 2 market(s), in the loan asset's own units (ZCHF); a separate book, never added to another currency; its rate covers 0 of the 2 markets; its LTV converts both sides at the day's rates in /v1/market/tree (no price is applied here)","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":13163835.229080327,"ltv_collateral_btc":361.19997252999997,"venue_priced":null,"ltv_kind":null,"ltv_absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"share_of_parent":{"collateral":0.2560689183441267,"debt":null},"share_of_market":{"collateral":0.00030908787381716206,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.0016362501796771845,"debt":null}},"share_of_class":{"collateral":0.2560689183441267,"debt":null}},"fraxlend_ethereum":{"id":"fraxlend_ethereum","level":"venue","name":"Fraxlend (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"fraxlend","metrics":{"collateral":{"btc":4.04714842,"usd":335028.8427152318,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":0.43920274627005423,"debt_usd":null,"collateral_usd":null,"kind":"exact","limitation":"frxUSD borrow","absent_kind":null,"absent_because":null,"observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.000025209175496641513,"debt":null},"share_of_market":{"collateral":0.000003463246387861753,"debt":null},"vs_parent":{"ltv":-0.015732559798251944,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000018333742616370828,"debt":null}},"share_of_class":{"collateral":0.000025209175496641513,"debt":null}},"gavel_arbitrum":{"id":"gavel_arbitrum","level":"venue","name":"The Gavel Protocol (Arbitrum)","deployment":"Arbitrum","venue_type":"auction","status":"live","class_id":"auction","family_id":"gavel","metrics":{"collateral":{"btc":0.45553529,"usd":37739.92808588592,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":16950.187962,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"ltv":{"value":0.4491314324559902,"debt_usd":16950.187962,"collateral_usd":37739.92808588592,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":null,"basis":"total BTC-collateral debt over total BTC collateral value, both from the same contract-state read","markets":{"in":20,"of":20}},"borrow":{"value":5.489079305555537,"weight_usd":16950.187962,"low":null,"high":null,"kind":"exact","limitation":"30-day mean, debt-weighted over the venue's dollar loans","absent_kind":null,"absent_because":null,"observer":"the Gavel curve (yield_curve_snapshots)","as_of":"2026-10-13"},"lend":{"value":5.489079305555537,"weight_usd":16950.187962,"low":null,"high":null,"kind":"exact","limitation":"one rate is both legs: the auction clears it","absent_kind":null,"absent_because":null,"observer":"the Gavel curve (yield_curve_snapshots)","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the auction has no liquidation and no price oracle: a loan is repaid by maturity, or the lender claims the escrowed collateral","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":16950.187962,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":16950.187962,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":16950.187962,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.4491314324559902,"kind":"converted","debt_usd":16950.187962,"collateral_usd":37739.92808588592,"parts":[{"currency":"usd","debt_usd":16950.187962,"collateral_usd":37739.92808588592}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":1,"debt":1},"share_of_market":{"collateral":3.898129704954226e-7,"debt":5.097766922571814e-7},"vs_parent":{"ltv":0,"borrow":0,"lend":0,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"auction","name":"Auction"}},"secured_view":{"share_of_market":{"collateral":0.000002063592903650873,"debt":0.000002449416436697562}},"share_of_class":{"collateral":1,"debt":1}},"gearbox_ethereum":{"id":"gearbox_ethereum","level":"venue","name":"Gearbox (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"gearbox","metrics":{"collateral":{"btc":5.27107249,"usd":435701.7582619346,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":0,"weight_usd":492241.17265753343,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00003283284368798344,"debt":null},"share_of_market":{"collateral":0.000004510588905249479,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":-3.372510243098208,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00002387816712288819,"debt":null}},"share_of_class":{"collateral":0.00003283284368798344,"debt":null}},"hyperlend_pooled_hyperliquid_l1":{"id":"hyperlend_pooled_hyperliquid_l1","level":"venue","name":"HyperLend Pooled (Hyperliquid L1)","deployment":"Hyperliquid L1","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"hyperlend_pooled","metrics":{"collateral":{"btc":146.07908691,"usd":12118834.99356738,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1422360.276382249,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $11m more is owed in dollars by 509 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 91 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.2507277839324441,"debt_usd":1488236.4466319901,"collateral_usd":5935666.2564089,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":6.086074980279449,"weight_usd":66519387.28167634,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":4.491361226921131,"weight_usd":78697179.97670294,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":32020.248913806503,"debt_usd":1488236.4466319901,"headroom_pct":0.617210693703912,"btc_price_ref":83649.79999999999,"threshold_low":0.6550038480040353,"threshold_high":0.6550038480040353,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $86,833 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.07085586,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.07085586,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":59949.09173191306,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":1488100.7350645813,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1422360.276382249,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1422360.276382249,"share":0.9558225749552639},{"currency":"btc","basis":"native","native":0.07085586,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":5791.366950419079,"share":0.0038917842145731775},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":59949.09173191306,"share":0.04028564083016286}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.2507277839324441,"kind":"converted","debt_usd":1488236.4466319901,"collateral_usd":5935666.2564089,"parts":[{"currency":"usd","debt_usd":1488236.4466319901,"collateral_usd":5935666.2564089}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0009099081516519569,"debt":0.00031869445808218764},"share_of_market":{"collateral":0.00012500353769659888,"debt":0.00004277746763149158},"vs_parent":{"ltv":-0.20420752213586207,"borrow":1.190484796601246,"lend":1.1188509838229233,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0006617440486757352,"debt":0.0002055406493241793}},"share_of_class":{"collateral":0.0009099081516519569,"debt":0.00031869445808218764}},"hypurrfi_pooled_hyperliquid_l1":{"id":"hypurrfi_pooled_hyperliquid_l1","level":"venue","name":"HypurrFi Pooled (Hyperliquid L1)","deployment":"Hyperliquid L1","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"hypurrfi_pooled","metrics":{"collateral":{"btc":1.27788231,"usd":105715.74061988808,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":1.2430899741914903,"weight_usd":333246.7217971576,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.000007959767241954436,"debt":null},"share_of_market":{"collateral":0.0000010935159363935393,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":-2.129420268906718,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000005788857470552908,"debt":null}},"share_of_class":{"collateral":0.000007959767241954436,"debt":null}},"inverse_finance_firm_ethereum":{"id":"inverse_finance_firm_ethereum","level":"venue","name":"Inverse Finance FiRM (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"inverse_finance_firm","metrics":{"collateral":{"btc":9.00684756,"usd":741703.942538772,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":0.32018299074540557,"debt_usd":null,"collateral_usd":null,"kind":"exact","limitation":"Fixed Borrow Rate","absent_kind":null,"absent_because":null,"observer":"contract_read (scripts/direct-reads.mjs)","as_of":"2026-10-13","basis":"the venue's whole debt over the market value of its whole collateral, both read from the protocol's own contracts the same day — an aggregate across every vault, not a per-borrower distribution"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00005610251397984001,"debt":null},"share_of_market":{"collateral":0.000007707385309627821,"debt":null},"vs_parent":{"ltv":-0.1347523153229006,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0000408013761328594,"debt":null}},"share_of_class":{"collateral":0.00005610251397984001,"debt":null}},"jupiter_lend_solana":{"id":"jupiter_lend_solana","level":"venue","name":"Jupiter Lend (Solana)","deployment":"Solana","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"jupiter_lend","metrics":{"collateral":{"btc":283.2685677316828,"usd":23474314.660945058,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":11336417.045627665,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 12 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.5322037699386927,"debt_usd":11336417.045627665,"collateral_usd":21300895.795859482,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 12 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":5.231463725395866,"weight_usd":396098457.6689396,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":4.702259465066664,"weight_usd":179101968.30811137,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":53770.38367892376,"debt_usd":11336417.045627665,"headroom_pct":0.3509710122698869,"btc_price_ref":82847.43007701098,"threshold_low":0.8,"threshold_high":0.9,"kind":"derived","limitation":"the markets taken together at one threshold (they run 80%–90%, which puts it between $48,991 and $55,115); debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/jupiter.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"the venue's API reports this book in dollars only, and a bitcoin amount is never derived from a dollar one"},"books":{"btc":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":297420.62560562324,"limitation":"BTC lent against bitcoin (cbBTC), observed only as the venue's own USD valuation (contract_read); a BTC amount is never derived from it"}},"eur":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":716561.9916864933,"limitation":"EUR lent against bitcoin (EURC), observed only as the venue's own USD valuation (contract_read); a EUR amount is never derived from it"}},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":104299.40782750041,"limitation":"debt against bitcoin in a loan asset not held as pegged to any currency (JupUSD,WSOL), as the venue's own USD valuation"}}},"debt_all":{"usd":12454699.070747282,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":11336417.045627665,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":11336417.045627665,"share":0.9102120397476194},{"currency":"btc","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":297420.62560562324,"share":0.023880193645479865},{"currency":"eur","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":716561.9916864933,"share":0.057533464888726495},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":104299.40782750041,"share":0.008374301718174106}],"limitation":"all debt secured by bitcoin here in 4 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.5322037699386927,"kind":"converted","debt_usd":11336417.045627665,"collateral_usd":21300895.795859482,"parts":[{"currency":"usd","debt_usd":11336417.045627665,"collateral_usd":21300895.795859482}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0017644440716187708,"debt":0.0025400409073144383},"share_of_market":{"collateral":0.00024240001655079476,"debt":0.00034094260172948043},"vs_parent":{"ltv":0.0772684638703865,"borrow":0.33587354171766304,"lend":1.3297492219684561,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0012832178297282905,"debt":0.001638188691893564}},"share_of_class":{"collateral":0.0017644440716187708,"debt":0.0025400409073144383}},"justlend_v1_tron":{"id":"justlend_v1_tron","level":"venue","name":"JustLend v1 (Tron)","deployment":"Tron","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"justlend_v1","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read","observer":null},"debt":{"usd":138341341.06499472,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (no bitcoin in the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 73% · contract_read 27% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":3.7669337511086938,"weight_usd":138341341.06499472,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":0.7440690323899224,"weight_usd":635855766.4006991,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.75,"threshold_high":0.75,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/comptroller_forks.json, as read on 2026-10-01","basis":"collateral factor (a shortfall is liquidated at it)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":138341341.06499472,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":138341341.06499472,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":138341341.06499472,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.128656432569509,"lend":-2.6284412107082855,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"kamino_lend_solana":{"id":"kamino_lend_solana","level":"venue","name":"Kamino Lend (Solana)","deployment":"Solana","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"kamino_lend","metrics":{"collateral":{"btc":1020.5064830539894,"usd":84512981.42918707,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":711062744.4071445,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 3.7% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 78% · contract_read 22% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":5.672267348172345,"weight_usd":711062744.4071445,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.454891214091536,"weight_usd":1019676201.8164171,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":711062744.4071445,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":711062744.4071445,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":711062744.4071445,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.006356605776955528,"debt":null},"share_of_market":{"collateral":0.0008732729874102889,"debt":null},"vs_parent":{"ltv":null,"borrow":0.7766771644941421,"lend":0.08238097099332808,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0046229347819790705,"debt":null}},"share_of_class":{"collateral":0.006356605776955528,"debt":null}},"kava_mint_kava":{"id":"kava_mint_kava","level":"venue","name":"Kava Mint (Kava)","deployment":"Kava","venue_type":"onchain_cdp","status":"ingesting","class_id":"algorithmic","family_id":"kava_mint","metrics":{"collateral":{"btc":61.33319748,"usd":5144859.8307769,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no debt at this venue is observed against bitcoin or lent from a pool in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"collateral is read here and the debt against it is not, so there is no numerator — an LTV of zero would be false. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold (LLTV) is ingested for this venue's bitcoin markets. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00038203672773717823,"debt":null},"share_of_market":{"collateral":0.000052484355053285046,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0002778418134804564,"debt":null}},"share_of_class":{"collateral":0.00038203672773717823,"debt":null}},"kinza_finance_bsc":{"id":"kinza_finance_bsc","level":"venue","name":"Kinza Finance (BSC)","deployment":"BSC","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"kinza_finance","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":824607.3333333334,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (no bitcoin in the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":3.378726210016727,"weight_usd":824607.3333333334,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":1.9411479512048144,"weight_usd":1215936.9,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":824607.3333333334,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":824607.3333333334,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":824607.3333333334,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.5168639736614757,"lend":-1.4313622918933935,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"layerbank_move":{"id":"layerbank_move","level":"venue","name":"LayerBank (Movement)","deployment":"Movement","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"layerbank","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"liquidium_icp":{"id":"liquidium_icp","level":"venue","name":"Liquidium (ICP)","deployment":"ICP","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"liquidium","metrics":{"collateral":{"btc":22.25686737,"usd":1853082.072103419,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1231044.8032326335,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 50.7% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 96% · contract_read 4% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":3.883585120480323,"weight_usd":1231044.8032326333,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.309844394502613,"weight_usd":1893802.2395931245,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":1231044.8032326335,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1231044.8032326335,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1231044.8032326335,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.0001386352110940878,"debt":null},"share_of_market":{"collateral":0.000019045759513872884,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.0120050631978796,"lend":-1.062665848595595,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00010082449059485747,"debt":null}},"share_of_class":{"collateral":0.0001386352110940878,"debt":null}},"liquity_forks_ethereum":{"id":"liquity_forks_ethereum","level":"venue","name":"Threshold USD (Ethereum)","deployment":"Ethereum","venue_type":"onchain_cdp","status":"ingesting","class_id":"minted","family_id":"liquity_forks","metrics":{"collateral":{"btc":26.764132046500233,"usd":2187552.445073048,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":537702.4956891361,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 1 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.24580096212101593,"debt_usd":537702.4956891361,"collateral_usd":2187552.445073048,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 1 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold (LLTV) is ingested for this venue's bitcoin markets","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":537702.4956891361,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":537702.4956891361,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":537702.4956891361,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.24580096212101593,"kind":"converted","debt_usd":537702.4956891361,"collateral_usd":2187552.445073048,"parts":[{"currency":"usd","debt_usd":537702.4956891361,"collateral_usd":2187552.445073048}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.018974149681025985,"debt":0.014454728986310351},"share_of_market":{"collateral":0.000022902738920135012,"debt":0.00001617139587391905},"vs_parent":{"ltv":-0.18376067314685984,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.00012124257807453909,"debt":0.00007770163575453747}},"share_of_class":{"collateral":0.018974149681025985,"debt":0.014454728986310351}},"lista_cdp_bsc":{"id":"lista_cdp_bsc","level":"venue","name":"Lista CDP (BSC)","deployment":"BSC","venue_type":"onchain_cdp","status":"ingesting","class_id":"algorithmic","family_id":"lista_cdp","metrics":{"collateral":{"btc":23.710235092484844,"usd":1959848.7472787972,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":795183.1869001879,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 1 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.4057370182287182,"debt_usd":795183.1869001879,"collateral_usd":1959848.7472787972,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 1 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":4.1988979363008285,"weight_usd":2241303.016284427,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold (LLTV) is ingested for this venue's bitcoin markets. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":795183.1869001879,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":795183.1869001879,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":795183.1869001879,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.4057370182287182,"kind":"converted","debt_usd":795183.1869001879,"collateral_usd":1959848.7472787972,"parts":[{"currency":"usd","debt_usd":795183.1869001879,"collateral_usd":1959848.7472787972}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.00014768805476945632,"debt":0.00017816897661807125},"share_of_market":{"collateral":0.000020289442718140077,"debt":0.000023915124461467717},"vs_parent":{"ltv":-0.04919828783958796,"borrow":-0.6966922473773742,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0001074083039334793,"debt":0.00011490933153929761}},"share_of_class":{"collateral":0.00014768805476945632,"debt":0.00017816897661807125}},"maple_ethereum":{"id":"maple_ethereum","level":"venue","name":"Maple Institutional Secured Lending (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"registered","class_id":"posted-card","family_id":"maple","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this lender negotiates terms per borrower and publishes no card, so there is no posted price to read","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"moonwell_lending_base":{"id":"moonwell_lending_base","level":"venue","name":"Moonwell Lending (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"moonwell_lending","metrics":{"collateral":{"btc":114.54849830425024,"usd":9499366.596964201,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1036702.2888739998,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $2m more is owed in dollars by 260 accounts posting bitcoin among other collateral, a bound never apportioned; $1m borrowed in other currencies is not added","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 184 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.8948178864844856,"debt_usd":2425717.4959240016,"collateral_usd":2710850.4786980012,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":16.197515082585255,"weight_usd":8286114.485042933,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":14.694085270433408,"weight_usd":8286114.490826833,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":88665.45802858625,"debt_usd":2425717.4959240016,"headroom_pct":-0.061313345584120285,"btc_price_ref":83543.14811690887,"threshold_low":0.8479351363227152,"threshold_high":0.8479351363227152,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $1m of their debt sits in positions that liquidate within a 20% fall; the book is already past its threshold in aggregate — unliquidated positions carry it there","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":1.9009335228526383,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":1.9009335228526383,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":1230240.0120230017,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":2422314.1160043543,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1036702.2888739998,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1036702.2888739998,"share":0.4279801211677934},{"currency":"btc","basis":"native","native":1.9009335228526383,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":155371.81510735286,"share":0.06414189393555661},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1230240.0120230017,"share":0.50787798489665}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.8948178864844856,"kind":"converted","debt_usd":2425717.4959240016,"collateral_usd":2710850.4786980012,"parts":[{"currency":"usd","debt_usd":2425717.4959240016,"collateral_usd":2710850.4786980012}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.9948964551763403,"debt":1},"share_of_market":{"collateral":0.00009802202237672885,"debt":0.00003117880845111755},"vs_parent":{"ltv":0,"borrow":0,"lend":0,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"moonwell_lending","name":"Moonwell Lending"}},"secured_view":{"share_of_market":{"collateral":0.0005189092336282331,"debt":0.00014981047006810524}},"share_of_class":{"collateral":0.0007135081042144205,"debt":0.00023228381699860737}},"moonwell_lending_moonbeam":{"id":"moonwell_lending_moonbeam","level":"venue","name":"Moonwell Lending (Moonbeam)","deployment":"Moonbeam","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"moonwell_lending","metrics":{"collateral":{"btc":0.58760225,"usd":36917.695716391616,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.005103544823659643,"debt":null},"share_of_market":{"collateral":5.028259798319773e-7,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"moonwell_lending","name":"Moonwell Lending"}},"secured_view":{"share_of_market":{"collateral":0.000002661861462520909,"debt":null}},"share_of_class":{"collateral":0.0000036601000767032455,"debt":null}},"morpho_blue_arbitrum":{"id":"morpho_blue_arbitrum","level":"venue","name":"Morpho Blue (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"btc":68.67205106,"usd":5681226.94186295,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":2531174.328365,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 2 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.44553304317306397,"debt_usd":2531174.328365,"collateral_usd":5681226.94186295,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 2 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":3.184676487199036,"weight_usd":2530007.9265292846,"low":2.8514507646816054,"high":3.3605775734687966,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed","markets":{"in":2,"of":2,"weight_in_usd":2530007.9265292846,"weight_of_usd":2530007.9265292846}},"lend":{"value":2.7916854216299183,"weight_usd":2886158.0409890832,"low":2.442842590694393,"high":2.982445316841603,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed","markets":{"in":2,"of":2,"weight_in_usd":2886158.0409890832,"weight_of_usd":2886158.0409890832}},"liquidation":{"btc_price":42881.30366272079,"debt_usd":2530007.9265292846,"headroom_pct":0.4824063507720107,"btc_price_ref":82847.43007701098,"threshold_low":0.86,"threshold_high":0.86,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":null,"markets":{"in":2,"of":2,"weight_in_usd":2530007.9265292846,"weight_of_usd":2530007.9265292846}},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":2531174.328365,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":2531174.328365,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2531174.328365,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.44553304317306397,"kind":"converted","debt_usd":2531174.328365,"collateral_usd":5681226.94186295,"parts":[{"currency":"usd","debt_usd":2531174.328365,"collateral_usd":5681226.94186295}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0011056374991338601,"debt":0.0010120337836654004},"share_of_market":{"collateral":0.00005876439608819755,"debt":0.00007612503646171675},"vs_parent":{"ltv":-0.04597470305095058,"borrow":-1.7237092534862133,"lend":-1.5174402324635463,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.0003110871108285956,"debt":0.000365771755330588}},"share_of_class":{"collateral":0.00042774951823631584,"debt":0.0005671356577403754}},"morpho_blue_base":{"id":"morpho_blue_base","level":"venue","name":"Morpho Blue (Base)","deployment":"Base","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"btc":39548.51990595,"usd":3276493237.5574703,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":1565815715.332604,"low":null,"high":null,"kind":"exact","limitation":"dollar loans only: $5m lent in BTC,ETH,EUR against bitcoin here is not added","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"ltv":{"value":0.4794562079131097,"debt_usd":1565815715.332604,"collateral_usd":3265815917.0532036,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":null,"basis":"total BTC-collateral debt over total BTC collateral value, both from the same contract-state read","markets":{"in":2,"of":2}},"borrow":{"value":5.105278871870986,"weight_usd":1565771862.6765492,"low":5.1042151674432,"high":10.105563548448,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed","markets":{"in":2,"of":2,"weight_in_usd":1565771862.6765492,"weight_of_usd":1565771862.6765492}},"lend":{"value":4.605727547799062,"weight_usd":1735600277.205415,"low":4.604789706565591,"high":8.91844218046207,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed","markets":{"in":2,"of":2,"weight_in_usd":1735600277.205415,"weight_of_usd":1735600277.205415}},"liquidation":{"btc_price":46191.59781691796,"debt_usd":1565771862.6765492,"headroom_pct":0.44244984094279727,"btc_price_ref":82847.43007701098,"threshold_low":0.77,"threshold_high":0.86,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":null,"markets":{"in":2,"of":2,"weight_in_usd":1565771862.6765492,"weight_of_usd":1565771862.6765492}},"btc_book":{"debt_btc":8.70579066,"collateral_btc":10.58490639,"ltv":0.8224721446969735,"borrow_rate":0.14620921218589172,"denomination_asset":"cbBTC","kind":"exact","limitation":"bitcoin lent against bitcoin in 2 market(s), in wrapper units (cbBTC) — a wrapper is not BTC; debt and collateral wrappers are taken at par for the ratio (each is pegged within 50 bps, asset_peg). A separate book: never added to the dollar figures","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":8.70579066,"collateral_btc":10.58490639,"ltv":0.8224721446969735,"borrow_rate":0.14620921218589172,"asset":"cbBTC","kind":"exact","limitation":"bitcoin lent against bitcoin in 2 market(s), in wrapper units (cbBTC) — a wrapper is not BTC; debt and collateral wrappers are taken at par for the ratio (each is pegged within 50 bps, asset_peg). A separate book: never added to the dollar figures","lend_rate":0.08085802358779548,"lend_weight_usd":1286663.9857915547,"liquidation":{"btc_price":null,"threshold_low":0.915,"threshold_high":0.945,"debt":8.70579066,"lt_units":9.79901815575,"markets":2,"kind":"parameter"},"ltv_debt":8.70579066,"ltv_collateral_btc":10.58490639,"venue_priced":null},"eth":{"debt":110.4279125097407,"collateral_btc":5.91142573,"ltv":0.5607355709085469,"borrow_rate":1.7469894418848002,"asset":"WETH","kind":"exact","limitation":"ETH lent against bitcoin in 1 market(s), in the loan asset's own units (WETH); a separate book, never added to another currency; its LTV converts both sides at the day's rates in /v1/market/tree (no price is applied here)","lend_rate":1.5754039777555358,"lend_weight_usd":300437.4013991646,"liquidation":{"btc_price":20.415759021985455,"threshold_low":0.915,"threshold_high":0.915,"debt":110.4279125097407,"lt_units":5.408954542950001,"markets":1,"kind":"derived"},"ltv_debt":110.4279125097407,"ltv_collateral_btc":5.91142573,"venue_priced":null,"ltv_kind":"converted","ltv_rates":{"ETH":{"series_id":"price.eth_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd_per_unit":2453.447628054114},"BTC":{"series_id":"price.btc_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd_per_unit":81734.48110599573}}},"eur":{"debt":4015494.486365,"collateral_btc":112.38298851,"ltv":null,"borrow_rate":3.8050662004272,"asset":"EURC","kind":"exact","limitation":"EUR lent against bitcoin in 1 market(s), in the loan asset's own units (EURC); a separate book, never added to another currency; its LTV converts both sides at the day's rates in /v1/market/tree (no price is applied here)","lend_rate":3.440824621041383,"lend_weight_usd":4965001.239210429,"liquidation":{"btc_price":41547.032137276445,"threshold_low":0.86,"threshold_high":0.86,"debt":4015494.486365,"lt_units":96.6493701186,"markets":1,"kind":"derived"},"ltv_debt":4015494.486365,"ltv_collateral_btc":112.38298851,"venue_priced":null,"ltv_kind":null,"ltv_absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"share_of_parent":{"collateral":0.6367412356018866,"debt":0.6260566035111471},"share_of_market":{"collateral":0.03384266018827152,"debt":0.047091888174695104},"vs_parent":{"ltv":-0.01205153831090483,"borrow":0.19689313118573715,"lend":0.2966018937055974,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.1791563613607493,"debt":0.22627092741232874}},"share_of_class":{"collateral":0.24634272714453942,"debt":0.3508371255444075}},"morpho_blue_ethereum":{"id":"morpho_blue_ethereum","level":"venue","name":"Morpho Blue (Ethereum)","deployment":"Ethereum","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"btc":22244.166273327377,"usd":1842872009.9508958,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":921931137.1760134,"low":null,"high":null,"kind":"exact","limitation":"dollar loans only: $25m lent in BTC,EUR against bitcoin here is not added","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"ltv":{"value":0.5132012784990236,"debt_usd":921931137.1760134,"collateral_usd":1796431879.2665818,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":null,"basis":"total BTC-collateral debt over total BTC collateral value, both from the same contract-state read","markets":{"in":18,"of":19}},"borrow":{"value":4.284135913670767,"weight_usd":922311234.4345353,"low":2.1163653686016,"high":5.4894763544688,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed","markets":{"in":19,"of":19,"weight_in_usd":922311234.4345353,"weight_of_usd":922311234.4345353}},"lend":{"value":3.8058349190170357,"weight_usd":1038223351.0126988,"low":1.5484824467594818,"high":4.49238849509454,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed","markets":{"in":19,"of":19,"weight_in_usd":1038223351.0126988,"weight_of_usd":1038223351.0126988}},"liquidation":{"btc_price":51619.50414360019,"debt_usd":922311234.4345353,"headroom_pct":0.3769329465546827,"btc_price_ref":82847.43007701098,"threshold_low":0.77,"threshold_high":0.86,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":null,"markets":{"in":19,"of":19,"weight_in_usd":922311234.4345353,"weight_of_usd":922311234.4345353}},"btc_book":{"debt_btc":8.04845726,"collateral_btc":9.0697051,"ltv":0.8874001052140051,"borrow_rate":0.1175245237152,"denomination_asset":"WBTC","kind":"exact","limitation":"bitcoin lent against bitcoin in 1 market(s), in wrapper units (WBTC) — a wrapper is not BTC; debt and collateral wrappers are taken at par for the ratio (each is pegged within 50 bps, asset_peg). A separate book: never added to the dollar figures","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":8.04845726,"collateral_btc":9.0697051,"ltv":0.8874001052140051,"borrow_rate":0.1175245237152,"asset":"WBTC","kind":"exact","limitation":"bitcoin lent against bitcoin in 1 market(s), in wrapper units (WBTC) — a wrapper is not BTC; debt and collateral wrappers are taken at par for the ratio (each is pegged within 50 bps, asset_peg). A separate book: never added to the dollar figures","lend_rate":0.1056568006913587,"lend_weight_usd":731726.8574848626,"liquidation":{"btc_price":null,"threshold_low":0.945,"threshold_high":0.945,"debt":8.04845726,"lt_units":8.5708713195,"markets":1,"kind":"parameter"},"ltv_debt":8.04845726,"ltv_collateral_btc":9.0697051,"venue_priced":null},"eur":{"debt":21717884.270068865,"collateral_btc":551.48034022,"ltv":null,"borrow_rate":1.986455871881105,"asset":"mixed","kind":"exact","limitation":"EUR lent against bitcoin in 5 market(s), in the loan asset's own units (EURC, EURCV); a separate book, never added to another currency; its LTV converts both sides at the day's rates in /v1/market/tree (no price is applied here)","lend_rate":1.7815065883793644,"lend_weight_usd":27076320.80629801,"liquidation":{"btc_price":45791.93846208811,"threshold_low":0.86,"threshold_high":0.86,"debt":21717884.270068865,"lt_units":474.2730925892,"markets":5,"kind":"derived"},"ltv_debt":21717884.270068865,"ltv_collateral_btc":551.48034022,"venue_priced":null,"ltv_kind":null,"ltv_absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null},"ltv_all":{"value":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"share_of_parent":{"collateral":0.3581367381508852,"debt":0.36861366938636325},"share_of_market":{"collateral":0.019034890866961897,"debt":0.02772706749046786},"vs_parent":{"ltv":0.021693532275009086,"borrow":-0.6242498270144825,"lend":-0.5032907350764289,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.10076695412394607,"debt":0.13322526487403924}},"share_of_class":{"collateral":0.1385560975697511,"debt":0.2065681592983718}},"morpho_blue_hyperliquid_l1":{"id":"morpho_blue_hyperliquid_l1","level":"venue","name":"Morpho Blue (Hyperliquid L1)","deployment":"Hyperliquid L1","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"btc":54.93697203,"usd":4560271.70587701,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1997632.7293771382,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 4 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.4380512518152606,"debt_usd":1997632.7293771382,"collateral_usd":4560271.70587701,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 4 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":7.199482952650365,"weight_usd":1600416.1914227775,"low":4.958465434920006,"high":8.357236980163192,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed","markets":{"in":2,"of":2,"weight_in_usd":1600416.1914227775,"weight_of_usd":1600416.1914227775}},"lend":{"value":6.238422205081182,"weight_usd":1846963.4697052212,"low":4.177301676019198,"high":7.350034150943993,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed","markets":{"in":2,"of":2,"weight_in_usd":1846963.4697052212,"weight_of_usd":1846963.4697052212}},"liquidation":{"btc_price":46758.41701573696,"debt_usd":1600416.1914227775,"headroom_pct":0.4356081175689749,"btc_price_ref":82847.43007701098,"threshold_low":0.77,"threshold_high":0.77,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":null,"markets":{"in":2,"of":2,"weight_in_usd":1600416.1914227775,"weight_of_usd":1600416.1914227775}},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":1997632.7293771382,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1997632.7293771382,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1997632.7293771382,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.4380512518152606,"kind":"converted","debt_usd":1997632.7293771382,"collateral_usd":4560271.70587701,"parts":[{"currency":"usd","debt_usd":1997632.7293771382,"collateral_usd":4560271.70587701}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0008844992311670736,"debt":0.0007987090366830938},"share_of_market":{"collateral":0.00004701094454622439,"debt":0.00006007877950436634},"vs_parent":{"ltv":-0.05345649440875394,"borrow":2.2910972119651163,"lend":1.9292965509877176,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.0002488666588908502,"debt":0.0002886713972016645}},"share_of_class":{"collateral":0.00034219544860634397,"debt":0.0004475901715670507}},"morpho_blue_katana":{"id":"morpho_blue_katana","level":"venue","name":"Morpho Blue (Katana)","deployment":"Katana","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"btc":154.30409253,"usd":12763546.07975687,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":7326302.06546,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 4 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.5740020852887896,"debt_usd":7326302.06546,"collateral_usd":12763546.07975687,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 4 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":5.682904018804799,"weight_usd":7127981.346083412,"low":5.6829040188048,"high":5.6829040188048,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed","markets":{"in":1,"of":1,"weight_in_usd":7127981.346083412,"weight_of_usd":7127981.346083412}},"lend":{"value":5.282815071311992,"weight_usd":7667808.009315269,"low":5.282815071311993,"high":5.282815071311993,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed","markets":{"in":1,"of":1,"weight_in_usd":7667808.009315269,"weight_of_usd":7667808.009315269}},"liquidation":{"btc_price":56472.68142334815,"debt_usd":7127981.346083412,"headroom_pct":0.31835325041641166,"btc_price_ref":82847.43007701098,"threshold_low":0.86,"threshold_high":0.86,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":null,"markets":{"in":1,"of":1,"weight_in_usd":7127981.346083412,"weight_of_usd":7127981.346083412}},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":7326302.06546,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":7326302.06546,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":7326302.06546,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.5740020852887896,"kind":"converted","debt_usd":7326302.06546,"collateral_usd":12763546.07975687,"parts":[{"currency":"usd","debt_usd":7326302.06546,"collateral_usd":12763546.07975687}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0024843351601939023,"debt":0.0029292590069734397},"share_of_market":{"collateral":0.00013204188125297568,"debt":0.00022033844354882765},"vs_parent":{"ltv":0.08249433906477505,"borrow":0.7745182781195501,"lend":0.9736894172185275,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.0006990036498581607,"debt":0.0010587000415322604}},"share_of_class":{"collateral":0.0009611406710996728,"debt":0.0016415333760844656}},"morpho_blue_monad":{"id":"morpho_blue_monad","level":"venue","name":"Morpho Blue (Monad)","deployment":"Monad","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"btc":3.56433402,"usd":294739.9427068885,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":140999.059117,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 3 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.4783846323035356,"debt_usd":140999.059117,"collateral_usd":294739.9427068885,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 3 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":8.014626582079424,"weight_usd":84987921.59503207,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days","observer":null},"liquidation":{"btc_price":46084.81090079509,"debt_usd":140999.059117,"headroom_pct":0.4437387996470516,"btc_price_ref":82847.43007701098,"threshold_low":0.77,"threshold_high":0.945,"kind":"derived","limitation":"the markets taken together at one threshold (they run 77%–94.5%, which puts it between $41,940 and $51,471); debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/morpho_chains.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":140999.059117,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":140999.059117,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":140999.059117,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.4783846323035356,"kind":"converted","debt_usd":140999.059117,"collateral_usd":294739.9427068885,"parts":[{"currency":"usd","debt_usd":140999.059117,"collateral_usd":294739.9427068885}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.000057386684846610115,"debt":0.00005637533918243105},"share_of_market":{"collateral":0.00000305008999889798,"debt":0.000004240544950249504},"vs_parent":{"ltv":-0.013123113920478935,"borrow":3.1062408413941753,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.000016146574264122082,"debt":0.000020375314641603557}},"share_of_class":{"collateral":0.000022201785680701508,"debt":0.00003159229028083074}},"morpho_blue_optimism":{"id":"morpho_blue_optimism","level":"venue","name":"Morpho Blue (Optimism)","deployment":"Optimism","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"btc":10.52786124,"usd":870552.7405252059,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":435745.575759,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 1 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.5005389742339035,"debt_usd":435745.575759,"collateral_usd":870552.7405252059,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 1 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":7.2131405786928084,"weight_usd":435651.24474750826,"low":7.2131405786928084,"high":7.2131405786928084,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed","markets":{"in":1,"of":1,"weight_in_usd":435651.24474750826,"weight_of_usd":435651.24474750826}},"lend":{"value":6.617077636694396,"weight_usd":474894.25372878305,"low":6.617077636694396,"high":6.617077636694396,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed","markets":{"in":1,"of":1,"weight_in_usd":474894.25372878305,"weight_of_usd":474894.25372878305}},"liquidation":{"btc_price":48117.20094656985,"debt_usd":435651.24474750826,"headroom_pct":0.41920707857995815,"btc_price_ref":82847.43007701098,"threshold_low":0.86,"threshold_high":0.86,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":null,"markets":{"in":1,"of":1,"weight_in_usd":435651.24474750826,"weight_of_usd":435651.24474750826}},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":435745.575759,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":435745.575759,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":435745.575759,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.5005389742339035,"kind":"converted","debt_usd":435745.575759,"collateral_usd":870552.7405252059,"parts":[{"currency":"usd","debt_usd":435745.575759,"collateral_usd":870552.7405252059}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.00016950124530941743,"debt":0.00017422318123607635},"share_of_market":{"collateral":0.000009008954856006926,"debt":0.000013105042774399652},"vs_parent":{"ltv":0.009031228009888925,"borrow":2.3047548380075593,"lend":2.3079519826009314,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.00004769162833791666,"debt":0.00006296817344298057}},"share_of_class":{"collateral":0.0000655767157665668,"debt":0.0000976332807053908}},"morpho_blue_polygon":{"id":"morpho_blue_polygon","level":"venue","name":"Morpho Blue (Polygon)","deployment":"Polygon","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"btc":21.39384126,"usd":1768805.9577474855,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":700156.56566,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 2 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.39583571199162265,"debt_usd":700156.56566,"collateral_usd":1768805.9577474855,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 2 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":10.260809291229707,"weight_usd":742490.7842622666,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":38132.52496652304,"debt_usd":700156.56566,"headroom_pct":0.539725916288811,"btc_price_ref":82847.43007701098,"threshold_low":0.77,"threshold_high":0.86,"kind":"derived","limitation":"the markets taken together at one threshold (they run 77%–86%, which puts it between $38,133 and $42,590); debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/morpho_chains.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":700156.56566,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":700156.56566,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":700156.56566,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.39583571199162265,"kind":"converted","debt_usd":700156.56566,"collateral_usd":1768805.9577474855,"parts":[{"currency":"usd","debt_usd":700156.56566,"collateral_usd":1768805.9577474855}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.00034444628902821633,"debt":0.0002799420373233508},"share_of_market":{"collateral":0.00001830724643060724,"debt":0.000021057200008901163},"vs_parent":{"ltv":-0.0956720342323919,"borrow":5.352423550544458,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.0000969149481392962,"debt":0.00010117734411170298}},"share_of_class":{"collateral":0.00013325953063777931,"debt":0.0001568772841668795}},"morpho_blue_tempo":{"id":"morpho_blue_tempo","level":"venue","name":"Morpho Blue (Tempo)","deployment":"Tempo","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"btc":4.038292,"usd":336209.9436588115,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":172447.995812,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 1 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.512917595283861,"debt_usd":172447.995812,"collateral_usd":336209.9436588115,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 1 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":2.5963805610451574,"weight_usd":2739918.8666666667,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days","observer":null},"liquidation":{"btc_price":55186.88910460818,"debt_usd":172447.995812,"headroom_pct":0.33387325287810254,"btc_price_ref":82847.43007701098,"threshold_low":0.77,"threshold_high":0.77,"kind":"derived","limitation":"the markets taken together at one threshold; debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/morpho_chains.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":172447.995812,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":172447.995812,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":172447.995812,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.512917595283861,"kind":"converted","debt_usd":172447.995812,"collateral_usd":336209.9436588115,"parts":[{"currency":"usd","debt_usd":172447.995812,"collateral_usd":336209.9436588115}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.00006501752894712905,"debt":0.00006894949736625447},"share_of_market":{"collateral":0.000003455667727187286,"debt":0.0000051863713304244025},"vs_parent":{"ltv":0.021409849059846497,"borrow":-2.312005179640092,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.00001829362268304195,"debt":0.00002491989801909107}},"share_of_class":{"collateral":0.00002515400997690207,"debt":0.00003863874820270577}},"morpho_blue_unichain":{"id":"morpho_blue_unichain","level":"venue","name":"Morpho Blue (Unichain)","deployment":"Unichain","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"btc":0.6958032,"usd":57710.212371624904,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":25599.072559,"low":null,"high":null,"kind":"exact","limitation":"latest day, as each market reports it; not reconciled against the venue's contracts","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt in 1 market(s) whose collateral is bitcoin — each market is a (collateral, loan) pair, so the link is exact"},"ltv":{"value":0.44357959374945244,"debt_usd":25599.072559,"collateral_usd":57710.212371624904,"kind":"exact","limitation":"latest day, as each market reports it; dollar loans only","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — read from the venue's own contracts, pool by pool","as_of":"2026-10-13","basis":"dollar debt over the bitcoin collateral posted, summed over 1 bitcoin-collateral market(s), both from the same rows"},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":42731.89462412407,"debt_usd":25599.072559,"headroom_pct":0.48420977470993903,"btc_price_ref":82847.43007701098,"threshold_low":0.86,"threshold_high":0.86,"kind":"derived","limitation":"the markets taken together at one threshold; debt and collateral as each market reports them, thresholds as read on 2026-10-01 (2026-09/morpho_chains.json)","absent_kind":null,"absent_because":null,"observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":25599.072559,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":25599.072559,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":25599.072559,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.44357959374945244,"kind":"converted","debt_usd":25599.072559,"collateral_usd":57710.212371624904,"parts":[{"currency":"usd","debt_usd":25599.072559,"collateral_usd":57710.212371624904}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.000011202608602227134,"debt":0.00001023522005967265},"share_of_market":{"collateral":5.954162459558745e-7,"debt":7.69891789001661e-7},"vs_parent":{"ltv":-0.047928152474562113,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.000003152016050957477,"debt":0.000003699238570734388}},"share_of_class":{"collateral":0.00000433407010556948,"debt":0.000005735735658582626}},"navi_lending_sui":{"id":"navi_lending_sui","level":"venue","name":"NAVI Lending (Sui)","deployment":"Sui","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"navi_lending","metrics":{"collateral":{"btc":630.1765947098486,"usd":51519021.964075185,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":32811876.326048035,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 22.7% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 76% · contract_read 24% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":6.995471796681981,"weight_usd":32811876.326048035,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.9945589478317247,"weight_usd":62253436.667931825,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.45,"threshold_high":0.77,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/sui.json, as read on 2026-10-01","basis":"reserve liquidation threshold"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":32811876.326048035,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":32811876.326048035,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":32811876.326048035,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.003925290283749096,"debt":null},"share_of_market":{"collateral":0.0005392579141794614,"debt":null},"vs_parent":{"ltv":null,"borrow":2.0998816130037783,"lend":-0.3779512952664832,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0028547249300709854,"debt":null}},"share_of_class":{"collateral":0.003925290283749096,"debt":null}},"neverland_monad":{"id":"neverland_monad","level":"venue","name":"Neverland (Monad)","deployment":"Monad","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"neverland","metrics":{"collateral":{"btc":7.77065918,"usd":643565.753009084,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":5840363.270279217,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 4.1% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 61% · contract_read 39% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":6.854302976978248,"weight_usd":5840363.270279217,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.547191633132062,"weight_usd":7805005.792864706,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.75,"threshold_high":0.75,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/aave_forks.json, as read on 2026-10-01","basis":"reserve liquidation threshold (outside e-mode)"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":5840363.270279217,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":5840363.270279217,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":5840363.270279217,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00004840245295308651,"debt":null},"share_of_market":{"collateral":0.000006649547914637579,"debt":null},"vs_parent":{"ltv":null,"borrow":1.9587127933000454,"lend":0.1746813900338542,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00003520139381635507,"debt":null}},"share_of_class":{"collateral":0.00004840245295308651,"debt":null}},"save_solana":{"id":"save_solana","level":"venue","name":"Save (Solana)","deployment":"Solana","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"save","metrics":{"collateral":{"btc":31.753522987380855,"usd":2629507.0428301645,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":20510650.416574936,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 2.2% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 90% · contract_read 10% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet","observer":null},"borrow":{"value":5.004995207405373,"weight_usd":20510650.416574936,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.963742403714154,"weight_usd":28458939.46338342,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":0.75,"threshold_high":0.95,"kind":"parameter","limitation":"the loan-to-value at which the venue liquidates a bitcoin position, not a price: no bitcoin book is read at this venue to turn it into one (a pool's debt has no collateral of its own until its accounts are read)","absent_kind":null,"absent_because":null,"observer":"credit_venue_btc_threshold (159) — 2026-09/save.json, as read on 2026-10-01","basis":"reserve liquidation threshold"},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":20510650.416574936,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":20510650.416574936,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":20510650.416574936,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00019778867749691383,"debt":null},"share_of_market":{"collateral":0.000027172285860455766,"debt":null},"vs_parent":{"ltv":null,"borrow":0.1094050237271702,"lend":-0.4087678393840539,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0001438447166248613,"debt":null}},"share_of_class":{"collateral":0.00019778867749691383,"debt":null}},"scallop_lend_sui":{"id":"scallop_lend_sui","level":"venue","name":"Scallop Lend (Sui)","deployment":"Sui","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"scallop_lend","metrics":{"collateral":{"btc":1.32079406,"usd":107975.70400926366,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":858331.424622657,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 2.0% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 96% · contract_read 4% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":7.569497782597737,"weight_usd":858331.424622657,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.3416310494759447,"weight_usd":1589221.727166423,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":858331.424622657,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":858331.424622657,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":858331.424622657,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.00000822705910386693,"debt":null},"share_of_market":{"collateral":0.0000011302365969084623,"debt":null},"vs_parent":{"ltv":null,"borrow":2.6739075989195342,"lend":-0.030879193622263212,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000005983249397429178,"debt":null}},"share_of_class":{"collateral":0.00000822705910386693,"debt":null}},"silo_v2_avalanche":{"id":"silo_v2_avalanche","level":"venue","name":"Silo v2 (Avalanche)","deployment":"Avalanche","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"silo_v2","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"silo_v2","name":"Silo v2"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"silo_v2_sonic":{"id":"silo_v2_sonic","level":"venue","name":"Silo v2 (Sonic)","deployment":"Sonic","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"silo_v2","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"silo_v2","name":"Silo v2"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"sky_ethereum":{"id":"sky_ethereum","level":"venue","name":"Sky (Ethereum)","deployment":"Ethereum","venue_type":"onchain_cdp","status":"ingesting","class_id":"minted","family_id":"sky","metrics":{"collateral":{"btc":132.23029474002035,"usd":10954940.09753639,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"debt":{"usd":2199360.002192542,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — contract state, read per block","as_of":"2026-10-13"},"ltv":{"value":0.2007642198506541,"debt_usd":2199360.002192542,"collateral_usd":10954940.09753639,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":null,"basis":"total BTC-collateral debt over total BTC collateral value, both from the same contract-state read","markets":{"in":3,"of":3}},"borrow":{"value":8.282342400181678,"weight_usd":548273611.0247033,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg. A savings rate on the minted stablecoin, where the protocol offers one, is a separate product and is not served as this venue's lend rate","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold (LLTV) is ingested for this venue's bitcoin markets","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":2199360.002192542,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":2199360.002192542,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2199360.002192542,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":0.2007642198506541,"kind":"converted","debt_usd":2199360.002192542,"collateral_usd":10954940.09753639,"parts":[{"currency":"usd","debt_usd":2199360.002192542,"collateral_usd":10954940.09753639}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.09374327553025986,"debt":0.05912405657384873},"share_of_market":{"collateral":0.00011315277896931451,"debt":0.00006614572472671092},"vs_parent":{"ltv":-0.22879741541722168,"borrow":0.610996406523288,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.0005990084717106537,"debt":0.00031782234814521507}},"share_of_class":{"collateral":0.09374327553025986,"debt":0.05912405657384873}},"spark_ethereum":{"id":"spark_ethereum","level":"venue","name":"SparkLend (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"spark","metrics":{"collateral":{"btc":8720.06529285,"usd":721292262.7188305,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":258077616.92225552,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $195m more is owed in dollars by 161 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 170 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.4677190060939462,"debt_usd":258267913.00445548,"collateral_usd":552186055.38681,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.102359717793989,"weight_usd":1490701555.31482,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.6151025417448444,"weight_usd":2110809684.013298,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":49120.24686909276,"debt_usd":258267913.00445548,"headroom_pct":0.41068737268702155,"btc_price_ref":83351.76372015096,"threshold_low":0.797704391327615,"threshold_high":0.797704391327615,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $13m of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.00017043543777645498,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.00017043543777645498,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":190281.87191015095,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":258267912.72461775,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":258077616.92225552,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":258077616.92225552,"share":0.9992631844956863},{"currency":"btc","basis":"native","native":0.00017043543777645498,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":13.930452068731771,"share":5.3937989902699744e-8},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":190281.87191015095,"share":0.0007367615663237346}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.4677190060939462,"kind":"converted","debt_usd":258267913.00445548,"collateral_usd":552186055.38681,"parts":[{"currency":"usd","debt_usd":258267913.00445548,"collateral_usd":552186055.38681}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.05431618351906855,"debt":0.05782494606596923},"share_of_market":{"collateral":0.007461978532376483,"debt":0.007761681120893012},"vs_parent":{"ltv":0.012783700025639999,"borrow":-0.7932304658842142,"lend":-0.7574077013533635,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.03950224110561782,"debt":0.037293955574432554}},"share_of_class":{"collateral":0.05431618351906855,"debt":0.05782494606596923}},"takara_lend_sei":{"id":"takara_lend_sei","level":"venue","name":"Takara Lend (Sei)","deployment":"Sei","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"takara_lend","metrics":{"collateral":{"btc":499.91320464115745,"usd":41467907.72508711,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1823920.7629459035,"low":null,"high":null,"kind":"whole_pool","limitation":"the whole pool's lending against every collateral it takes (bitcoin is 76.6% of the pool's collateral) — not debt against bitcoin, and no dollar of it is assigned to bitcoin without an account-level read","absent_kind":null,"absent_because":null,"observer":"aggregator_defillama 76% · contract_read 24% of the 30-day debt (098)","as_of":"2026-10-13","basis":"mean daily debt over 30 days lent from a pooled reserve against its whole basket — no dollar of it is assignable to bitcoin"},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":17.165768383069583,"weight_usd":1823920.7629459037,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":9.288118248653149,"weight_usd":2518928.526602506,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":1823920.7629459035,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1823920.7629459035,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1823920.7629459035,"share":1}],"limitation":"all debt secured by bitcoin here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies"},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":0.0031138961068513027,"debt":null},"share_of_market":{"collateral":0.0004277882648588119,"debt":null},"vs_parent":{"ltv":null,"borrow":12.270178199391381,"lend":5.91560800555494,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0022646266144141307,"debt":null}},"share_of_class":{"collateral":0.0031138961068513027,"debt":null}},"tectonic_cronos":{"id":"tectonic_cronos","level":"venue","name":"Tectonic (Cronos)","deployment":"Cronos","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"tectonic","metrics":{"collateral":{"btc":111.1486695,"usd":9224115.711127391,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":1630285.2516490007,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $3m more is owed in dollars by 247 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 91 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.41875430963563776,"debt_usd":1650601.8474180007,"collateral_usd":3941695.1884129993,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":3.0702376618515546,"weight_usd":6424455.443609091,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":2.2006173789685555,"weight_usd":8048313.202838765,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":47774.31710473112,"debt_usd":1650601.8474180007,"headroom_pct":0.4287930445304989,"btc_price_ref":83637.49188849289,"threshold_low":0.7315777154146125,"threshold_high":0.7315777154146125,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $42,126 of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.06586168,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.06586168,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":14808.118307000008,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":1650476.5401955699,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1630285.2516490007,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1630285.2516490007,"share":0.9877663886430178},{"currency":"btc","basis":"native","native":0.06586168,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":5383.170239569137,"share":0.0032615854321269354},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":14808.118307000008,"share":0.008972025924855223}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.41875430963563776,"kind":"converted","debt_usd":1650601.8474180007,"collateral_usd":3941695.1884129993,"parts":[{"currency":"usd","debt_usd":1650601.8474180007,"collateral_usd":3941695.1884129993}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.0006923310007107932,"debt":0.00036528218864151715},"share_of_market":{"collateral":0.00009511270361602277,"debt":0.000049030808678019666},"vs_parent":{"ltv":-0.03618099643266842,"borrow":-1.8253525218266482,"lend":-1.1718928641296524,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000503507874506136,"debt":0.00023558721005613605}},"share_of_class":{"collateral":0.0006923310007107932,"debt":0.00036528218864151715}},"tender_finance_arbitrum":{"id":"tender_finance_arbitrum","level":"venue","name":"Tender Finance (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"tender_finance","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}},"tydro_ink":{"id":"tydro_ink","level":"venue","name":"Tydro (Ink)","deployment":"Ink","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"tydro","metrics":{"collateral":{"btc":1160.4364431667364,"usd":96040022.93418172,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":54456934.10884803,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $472,500 more is owed in dollars by 293 accounts posting bitcoin among other collateral, a bound never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 122 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.5833687764126294,"debt_usd":54483506.301293336,"collateral_usd":93394621.89994888,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":5.921405437793012,"weight_usd":54900625.63923343,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.969414993536372,"weight_usd":78973825.00211969,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":56511.043697294524,"debt_usd":54483506.301293336,"headroom_pct":0.32474607398116984,"btc_price_ref":83688.58220562001,"threshold_low":0.8662972558680702,"threshold_high":0.8662972558680702,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $5m of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":0.30949392,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":0.30949392,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":671.085079248387,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":54482901.518883936,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":54456934.10884803,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":54456934.10884803,"share":0.9995233842304285},{"currency":"btc","basis":"native","native":0.30949392,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":25296.324956660552,"share":0.0004642984175116439},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":671.085079248387,"share":0.000012317352059816178}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.5833687764126294,"kind":"converted","debt_usd":54483506.301293336,"collateral_usd":93394621.89994888,"parts":[{"currency":"usd","debt_usd":54483506.301293336,"collateral_usd":93394621.89994888}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.007228211795723746,"debt":0.012201636528249512},"share_of_market":{"collateral":0.0009930145631131414,"debt":0.0016377916163945736},"vs_parent":{"ltv":0.12843347034432323,"borrow":1.025815254114809,"lend":0.5969047504381639,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.005256823042747659,"debt":0.007869394121021278}},"share_of_class":{"collateral":0.007228211795723746,"debt":0.012201636528249512}},"venus_core_pool_bsc":{"id":"venus_core_pool_bsc","level":"venue","name":"Venus Core Pool (BSC)","deployment":"BSC","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"venus_core_pool","metrics":{"collateral":{"btc":8078.353302904746,"usd":669837030.3507067,"low":null,"high":null,"kind":"partial","limitation":"the supplied amount of the venue's pegged-bitcoin reserves as each pool reports it — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"credit_venue_state_daily — the supplied amount of each pegged bitcoin reserve, as read from the venue's own contracts, pool by pool (no contract-state read for this venue)","as_of":"2026-10-13"},"debt":{"usd":84082921.04907791,"low":null,"high":null,"kind":"partial","limitation":"bitcoin-only borrowers only: $70m more is owed in dollars by 1,934 accounts posting bitcoin among other collateral, a bound never apportioned; $64m borrowed in other currencies is not added","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"borrowed in dollars by the 1,626 accounts whose only collateral is bitcoin — secured by bitcoin exactly"},"ltv":{"value":0.40920642126026735,"debt_usd":147928781.86234304,"collateral_usd":361501614.28736717,"kind":"partial","limitation":"the bitcoin-only borrowers' LTV, not the pool's: accounts posting bitcoin among other collateral are not in it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13","basis":"all the debt (every currency) of the accounts whose only collateral is bitcoin, over that bitcoin"},"borrow":{"value":4.756686513649951,"weight_usd":187435670.27373552,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"lend":{"value":3.0655686303492744,"weight_usd":263291188.26340657,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no bitcoin-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama","as_of":"2026-10-13"},"liquidation":{"btc_price":44047.844117559995,"debt_usd":147928781.86234304,"headroom_pct":0.4733918056075984,"btc_price_ref":83644.43354016209,"threshold_low":0.7796114454399783,"threshold_high":0.7796114454399783,"kind":"partial","limitation":"the bitcoin-only borrowers only (accounts posting other collateral are not in it); $53m of their debt sits in positions that liquidate within a 20% fall","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account","as_of":"2026-10-13"},"btc_book":{"debt_btc":510.9655952824801,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","absent_kind":null,"absent_because":null},"books":{"btc":{"debt":510.9655952824801,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"exact","limitation":"bitcoin-denominated debt of the accounts whose only collateral is bitcoin, in wrapper units; its LTV is not served because the same collateral also secures those accounts' dollar debt, and recorded only from the day the reader began to read it","lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":null},"other":{"debt":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"lend_rate":null,"lend_weight_usd":null,"liquidation":null,"ltv_debt":null,"ltv_collateral_btc":null,"venue_priced":{"debt_usd":21164259.04936318,"limitation":"debt of bitcoin-only accounts in neither dollars nor bitcoin (ether, BNB and other reserves), at the pool's own oracle; the pool read does not split it by currency"}}},"debt_all":{"usd":147010687.8918708,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":84082921.04907791,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":84082921.04907791,"share":0.5719510754954261},{"currency":"btc","basis":"native","native":510.9655952824801,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":41763507.793429725,"share":0.2840848403086692},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":21164259.04936318,"share":0.14396408419590487}],"limitation":"all debt secured by bitcoin here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; rates carried forward from the last date on or before 2026-10-13: BTC from 2026-10-12"},"ltv_all":{"value":0.40920642126026735,"kind":"converted","debt_usd":147928781.86234304,"collateral_usd":361501614.28736717,"parts":[{"currency":"usd","debt_usd":147928781.86234304,"collateral_usd":361501614.28736717}],"limitation":"every loan currency's debt over the bitcoin securing it, over the books whose two sides are read (usd): the dollar book as its LTV counts it (collateral at its venues' own prices), every other currency at the day's rates (debt at its own, bitcoin at the on-chain basket fixing)"}},"share_of_parent":{"collateral":0.05031904071776032,"debt":0.018839643796760407},"share_of_market":{"collateral":0.006912849491236579,"debt":0.002528792805355008},"vs_parent":{"ltv":-0.04572888480803883,"borrow":-0.13890367002825155,"lend":-0.3069416127489335,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.036595260378309714,"debt":0.012150548968830062}},"share_of_class":{"collateral":0.05031904071776032,"debt":0.018839643796760407}},"zentra_finance_citrea":{"id":"zentra_finance_citrea","level":"venue","name":"Zentra Finance (Citrea)","deployment":"Citrea","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"zentra_finance","metrics":{"collateral":{"btc":null,"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no pegged-bitcoin reserve of this venue appeared in the latest collateral read. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"this pool lends against its whole basket, and its accounts are not yet read one by one, which is what assigns debt to bitcoin exactly. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"a pool's debt has no collateral of its own; the LTV of its bitcoin-only borrowers needs an account-level read, which this venue does not have yet. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no USD loan at this venue cleared the curve's gates and $250k floor in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no dollar supply rate at this venue cleared the gates in the last 30 days. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"liquidation":{"btc_price":null,"debt_usd":null,"headroom_pct":null,"btc_price_ref":82847.43007701098,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"below_floor","absent_because":"no liquidation threshold is read for this venue's bitcoin reserves together with an account-level book. This venue is below the research floor — its book has not reached $5m on any day of the last 90 — so it is not researched","observer":null},"btc_book":{"debt_btc":null,"collateral_btc":null,"ltv":null,"borrow_rate":null,"denomination_asset":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no bitcoin lent against bitcoin is read at this venue"},"books":{},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt is read here","parts":null},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no book here carries both its debt and its bitcoin collateral"}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}},"share_of_class":{"collateral":null,"debt":null}}}},"tree_eth":{"collateral":"eth","as_of":"2026-10-13","eth_price_ref":2453.447628054114,"question":"The same six figures at every level — market, class, family, venue — with ether as the collateral, each in relation to the level above it.","levels":["market","class","family","venue"],"rules":{"collateral":"Ether-family collateral that counts on its chain (custody), each token in ETH at its own contract rate, cited per part (attrs.parts); the market peg beside it, never folded in. Uncounted ether is stated beside the figure, never added.","adds_up":"Every level is computed here from its children. Collateral adds wherever read; the dollar debt adds where exact, partial or converted.","ltv":"A ratio of sums over the children carrying both sides — never a mean of ratios.","rates":"Weighted by each child's own dollar weight; where none carries one, the median, said so.","liquidation":"The priced books as one position, Σ debt / Σ (debt / price), in USD per ETH; else the range of thresholds.","books":"One book per loan currency, in its own units. ETH lent against ether (books.eth) is leverage on staking yield (D6) and outside the headline.","never":"Never summed with the bitcoin tree (D4); rates never summed across currencies.","order":"Children are ordered by dollar debt, then ether collateral, then name — never by a rate.","kinds":{"exact":"measured, for the ether book itself","partial":"measured, for part of it — `limitation` says which part","converted":"two measured sides brought to one unit at the day's cited rate","derived":"computed from a parameter applied to a measured book","parameter":"the venue's own threshold, where no book is read to turn it into a price"},"absent_kinds":{"not_applicable":"the metric does not exist for this kind of venue","not_published":"the venue does not disclose it","not_read":"it exists and is public, and this dataset does not read it yet — a gap in the dataset, not a property of the venue","not_converted":"both sides are read, and the rate that brings them to one unit is missing"}},"rates":{"as_of":"2026-10-13","BTC":{"usd_per_unit":81734.48110599573,"unit":"USDBASKET_per_BTC","series_id":"price.btc_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"kind":"cross_checked","source":"onchain_reference_daily BTC_in_basket"},"ETH":{"usd_per_unit":2453.447628054114,"unit":"USDBASKET_per_ETH","series_id":"price.eth_in_basket","vintage_id":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"kind":"cross_checked","source":"onchain_reference_daily ETH_in_basket"},"missing":{"EUR":"the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","CHF":"the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","JPY":"the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","GBP":"the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13"}},"market":{"id":"market","level":"market","name":"The market","collateral_kind":"eth","includes_corporate":true,"children":["algorithmic","minted","posted-card"],"venue_count":106,"metrics":{"collateral":{"eth":9355220.773935227,"usd":23215075295.530224,"kind":"partial","coverage":{"in":62,"of":106},"uncounted_usd":1466014688.5667505,"parts":[{"token":"WETH","family":"eth_native","native":3957965.9014593186,"usd":9816929516.845387,"eth":3957965.9014593186,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WSTETH","family":"eth_lst","native":2487721.0186837674,"usd":7693047987.978558,"eth":3100109.695090399,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"WEETH","family":"eth_lrt","native":1624340.7741812512,"usd":4461290225.254463,"eth":1795916.8208795195,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"ETH","family":"eth_native","native":182615.04411249261,"usd":452629354.1378288,"eth":182615.04411249261,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"OSETH","family":"eth_lst","native":118993.13838512335,"usd":319516306.866309,"eth":128617.4966500675,"rate":1.0808816238949404,"rate_source":"StakeWise OsTokenVaultController convertToAssets()","rate_date":"2026-10-12","rate_series":"price.oseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.oseth_vs_eth","peg_value":0.9960166731118315,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"CBETH","family":"eth_lst","native":76079.04660805342,"usd":215942573.27183765,"eth":86844.15330639156,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"RETH","family":"eth_lst","native":44346.221854161704,"usd":129199114.77519093,"eth":52047.33991195209,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"TETH","family":"eth_lrt","native":17328.669980844155,"usd":54004459.459888816,"eth":21759.51759763951,"rate":1.2556946160145819,"rate_source":"to be read (Treehouse tETH)","rate_date":"2026-10-12","rate_series":"price.teth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"OETH","family":"eth_lst","native":8849.174795043491,"usd":21976032.273056835,"eth":8849.174795043491,"rate":1,"rate_source":"1:1 rebasing (Origin)","rate_date":"2026-10-12","rate_series":"price.oeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"SFRXETH","family":"eth_lst","native":7096.342366914259,"usd":20548204.272247348,"eth":8314.131970792167,"rate":1.1716080680599186,"rate_source":"sfrxETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.sfrxeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"LSETH","family":"eth_lst","native":3116.3754129688996,"usd":8563211.84341802,"eth":3488.2001356217097,"rate":1.1193131999134154,"rate_source":"lsETH.underlyingBalanceFromShares()","rate_date":"2026-10-12","rate_series":"price.lseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"STETH","family":"eth_lst","native":3422.9449141574173,"usd":8398147.304331763,"eth":3422.9449141574173,"rate":1,"rate_source":"1:1 rebasing (Lido)","rate_date":"2026-10-12","rate_series":"price.steth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.steth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"METH","family":"eth_lst","native":1383.9478695666037,"usd":3779598.8967894525,"eth":1523.138153156266,"rate":1.100574802454988,"rate_source":"Mantle staking mETHToETH()","rate_date":"2026-10-12","rate_series":"price.meth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"RSETH","family":"eth_lrt","native":1263.7440872437776,"usd":3395671.175188936,"eth":1367.3640534576573,"rate":1.0819944221775744,"rate_source":"Kelp LRTOracle rsETHPrice()","rate_date":"2026-10-12","rate_series":"price.rseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WSUPEROETHB","family":"eth_lst","native":790.6958184501822,"usd":2153865.0859643705,"eth":877.8932399345688,"rate":1.1102793507309796,"rate_source":"wsuperOETHb ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.wsuperoethb_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WEETHS","family":"eth_lrt","native":437.4362110593806,"usd":1142411.3288710192,"eth":465.6350988739433,"rate":1.0644639997824388,"rate_source":"to be read (ether.fi liquid vault)","rate_date":"2026-10-12","rate_series":"price.weeths_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"EZETH","family":"eth_lrt","native":395.988413112038,"usd":1059196.0956860175,"eth":430.63656618224536,"rate":1.0874978962084028,"rate_source":"Renzo RestakeManager calculateTVLs() / ezETH supply","rate_date":"2026-10-12","rate_series":"price.ezeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"SUPEROETHB","family":"eth_lst","native":375.3660015914613,"usd":933658.8922341424,"eth":375.3660015914613,"rate":1,"rate_source":"1:1 rebasing (Origin, Base)","rate_date":"2026-10-12","rate_series":"price.superoethb_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"YOETH","family":"eth_lst","native":106.07806853609985,"usd":284440.11557455076,"eth":115.93408044855407,"rate":1.0929128145758054,"rate_source":"yoETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.yoeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"PUFETH","family":"eth_lrt","native":65.24321992515553,"usd":173698.54722635812,"eth":70.79774043141431,"rate":1.0851355974249999,"rate_source":"pufETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.pufeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WRSETH","family":"eth_lrt","native":35.95697963091308,"usd":96131.79568047704,"eth":38.90525139900062,"rate":1.0819944221775744,"rate_source":"Kelp rsETH rate, bridged wrapper","rate_date":"2026-10-12","rate_series":"price.wrseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"ST-YETH","family":"eth_lst","native":324.5576318079113,"usd":21243.139669381406,"eth":null,"rate":null,"rate_source":"st-yETH ERC-4626 convertToAssets()","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WOETH","family":"eth_lst","native":4,"usd":11489.31447215618,"eth":4.682926353143813,"rate":1.1707315882859533,"rate_source":"wOETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.woeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"YNETH","family":"eth_lrt","native":0,"usd":0,"eth":0,"rate":1.0809924023954194,"rate_source":"ynETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.yneth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":"read for 62 of 106 venues; part of it is the supplied amount each pool reports, or leaves out tokens with no contract rate read; $1.47bn of ether whose custody does not count is stated beside it, never added; $112.0m of synthetic ether (ALETH, LIQUIDETH, SAVETH, XETH) is not ether collateral: stated beside it, never added","synthetic_excluded_usd":112021101.48652114,"synthetic_excluded":[{"token":"ALETH","native":32.21760500125933,"usd":77650.06731379384},{"token":"LIQUIDETH","native":33682.54321726406,"usd":92975008.22770602},{"token":"SAVETH","native":1681.3748757076876,"usd":4374551.262258863},{"token":"XETH","native":5855.6625617315685,"usd":14593891.929242462}]},"debt":{"usd":4467426925.50252,"low":null,"high":null,"kind":"partial","coverage":{"in":28,"of":106},"excluded":[],"limitation":"dollar debt against ether read for 28 of 106 venues; part of it is partial (the ether-only borrowers in a pool)"},"ltv":{"value":0.23151607788807327,"debt_usd":4467426925.50252,"collateral_usd":19296400346.166466,"kind":"partial","coverage":{"in":28,"of":106},"limitation":"both sides read for 28 of 106 venues; isolated and CDP sides at the day's ETH fixing; pooled sides at each pool's oracle"},"borrow":{"value":5.035378641593719,"weight_usd":9688818090.818748,"low":1.3763056019254796,"high":22.109227211305505,"kind":"partial","coverage":{"in":65,"of":106},"limitation":"weighted by dollar debt for 65 of 106 venues; 5 rate(s) carry no weight and are not in it"},"lend":{"value":3.1627774278439786,"weight_usd":12281823130.063194,"low":0,"high":14.694085270433408,"kind":"partial","coverage":{"in":55,"of":106},"limitation":"weighted by dollar supply for 55 of 106 venues"},"liquidation":{"eth_price":1168.6321326210798,"unit":"USD_per_ETH","debt_usd":1017932656.8894353,"headroom_pct":0.5236775714067519,"eth_price_ref":2453.447628054114,"kind":"derived","coverage":{"in":17,"of":106},"threshold_low":0.5714285714285714,"threshold_high":0.9090909090909091,"limitation":"the priced books of 17 of 106 venues taken as one position, in USD per ETH — an aggregate, not a forecast"},"books":{"btc":{"debt":363.22614358326626,"collateral_eth":599.3802368630423,"ltv":null,"borrow_rate":0.4457170319940968,"asset":"mixed","kind":"partial","coverage":{"in":11,"of":106},"limitation":"BTC lent against ether, read in its own units for 11 of 106 venues; a separate book, never added to another currency; its LTV covers the 3 carrying both sides; its rate covers the 3 with a rate read","ltv_debt":11.36279492,"ltv_collateral_eth":599.3802368630423,"venue_priced":null},"chf":{"debt":6644835.967147821,"collateral_eth":6557.711882192672,"ltv":null,"borrow_rate":1.1890185041843175,"asset":"mixed","kind":"partial","coverage":{"in":2,"of":106},"limitation":"CHF lent against ether, read in its own units for 2 of 106 venues; a separate book, never added to another currency","ltv_debt":6644835.967147821,"ltv_collateral_eth":6557.711882192672,"venue_priced":null},"eth":{"debt":2514838.4965808988,"collateral_eth":136758.9057490943,"ltv":0.8907678473692324,"borrow_rate":2.0891851555998064,"asset":"mixed","kind":"partial","coverage":{"in":17,"of":106},"limitation":"ether lent against ether, in ETH, read for 17 of 106 venues — leverage on staking yield: outside the headline; a separate book, never added to another currency; its LTV covers the 7 carrying both sides; its rate covers the 7 with a rate read","ltv_debt":121820.43608269247,"ltv_collateral_eth":136758.9057490943,"venue_priced":null},"eur":{"debt":11604737.627399554,"collateral_eth":11352.065779789185,"ltv":null,"borrow_rate":2.2948833585422923,"asset":"mixed","kind":"partial","coverage":{"in":3,"of":106},"limitation":"EUR lent against ether, read in its own units for 3 of 106 venues; a separate book, never added to another currency","ltv_debt":11604737.627399554,"ltv_collateral_eth":11352.065779789185,"venue_priced":null},"other":{"debt":null,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"venue_priced":{"debt_usd":9807888.699675944,"coverage":{"in":6,"of":106},"limitation":"debt against ether in loan currencies the reads do not split, at 6 of 106 venues, as the venues' own USD valuation ($9.8m)"}}},"ltv_all":{"value":0.5514995316040563,"debt_usd":10852045121.575417,"collateral_usd":19677342408.636055,"kind":"partial","coverage":{"in":29,"of":106},"limitation":"every loan currency's debt over the ether securing it, for 29 of 106 venues; pooled sides at each pool's oracle, isolated and CDP sides at the day's ETH fixing; ether lent against ether is in it (the dollar LTV is the headline)"},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null}},"share_of_parent":null,"share_of_market":null,"vs_parent":null},"market_secured":{"id":"market","level":"market","name":"The market","collateral_kind":"eth","includes_corporate":false,"children":["algorithmic","minted","posted-card"],"venue_count":106,"metrics":{"collateral":{"eth":9355220.773935227,"usd":23215075295.530224,"kind":"partial","coverage":{"in":62,"of":106},"uncounted_usd":1466014688.5667505,"parts":[{"token":"WETH","family":"eth_native","native":3957965.9014593186,"usd":9816929516.845387,"eth":3957965.9014593186,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WSTETH","family":"eth_lst","native":2487721.0186837674,"usd":7693047987.978558,"eth":3100109.695090399,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"WEETH","family":"eth_lrt","native":1624340.7741812512,"usd":4461290225.254463,"eth":1795916.8208795195,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"ETH","family":"eth_native","native":182615.04411249261,"usd":452629354.1378288,"eth":182615.04411249261,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"OSETH","family":"eth_lst","native":118993.13838512335,"usd":319516306.866309,"eth":128617.4966500675,"rate":1.0808816238949404,"rate_source":"StakeWise OsTokenVaultController convertToAssets()","rate_date":"2026-10-12","rate_series":"price.oseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.oseth_vs_eth","peg_value":0.9960166731118315,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"CBETH","family":"eth_lst","native":76079.04660805342,"usd":215942573.27183765,"eth":86844.15330639156,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"RETH","family":"eth_lst","native":44346.221854161704,"usd":129199114.77519093,"eth":52047.33991195209,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"TETH","family":"eth_lrt","native":17328.669980844155,"usd":54004459.459888816,"eth":21759.51759763951,"rate":1.2556946160145819,"rate_source":"to be read (Treehouse tETH)","rate_date":"2026-10-12","rate_series":"price.teth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"OETH","family":"eth_lst","native":8849.174795043491,"usd":21976032.273056835,"eth":8849.174795043491,"rate":1,"rate_source":"1:1 rebasing (Origin)","rate_date":"2026-10-12","rate_series":"price.oeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"SFRXETH","family":"eth_lst","native":7096.342366914259,"usd":20548204.272247348,"eth":8314.131970792167,"rate":1.1716080680599186,"rate_source":"sfrxETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.sfrxeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"LSETH","family":"eth_lst","native":3116.3754129688996,"usd":8563211.84341802,"eth":3488.2001356217097,"rate":1.1193131999134154,"rate_source":"lsETH.underlyingBalanceFromShares()","rate_date":"2026-10-12","rate_series":"price.lseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"STETH","family":"eth_lst","native":3422.9449141574173,"usd":8398147.304331763,"eth":3422.9449141574173,"rate":1,"rate_source":"1:1 rebasing (Lido)","rate_date":"2026-10-12","rate_series":"price.steth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.steth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"METH","family":"eth_lst","native":1383.9478695666037,"usd":3779598.8967894525,"eth":1523.138153156266,"rate":1.100574802454988,"rate_source":"Mantle staking mETHToETH()","rate_date":"2026-10-12","rate_series":"price.meth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"RSETH","family":"eth_lrt","native":1263.7440872437776,"usd":3395671.175188936,"eth":1367.3640534576573,"rate":1.0819944221775744,"rate_source":"Kelp LRTOracle rsETHPrice()","rate_date":"2026-10-12","rate_series":"price.rseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WSUPEROETHB","family":"eth_lst","native":790.6958184501822,"usd":2153865.0859643705,"eth":877.8932399345688,"rate":1.1102793507309796,"rate_source":"wsuperOETHb ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.wsuperoethb_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WEETHS","family":"eth_lrt","native":437.4362110593806,"usd":1142411.3288710192,"eth":465.6350988739433,"rate":1.0644639997824388,"rate_source":"to be read (ether.fi liquid vault)","rate_date":"2026-10-12","rate_series":"price.weeths_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"EZETH","family":"eth_lrt","native":395.988413112038,"usd":1059196.0956860175,"eth":430.63656618224536,"rate":1.0874978962084028,"rate_source":"Renzo RestakeManager calculateTVLs() / ezETH supply","rate_date":"2026-10-12","rate_series":"price.ezeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"SUPEROETHB","family":"eth_lst","native":375.3660015914613,"usd":933658.8922341424,"eth":375.3660015914613,"rate":1,"rate_source":"1:1 rebasing (Origin, Base)","rate_date":"2026-10-12","rate_series":"price.superoethb_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"YOETH","family":"eth_lst","native":106.07806853609985,"usd":284440.11557455076,"eth":115.93408044855407,"rate":1.0929128145758054,"rate_source":"yoETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.yoeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"PUFETH","family":"eth_lrt","native":65.24321992515553,"usd":173698.54722635812,"eth":70.79774043141431,"rate":1.0851355974249999,"rate_source":"pufETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.pufeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WRSETH","family":"eth_lrt","native":35.95697963091308,"usd":96131.79568047704,"eth":38.90525139900062,"rate":1.0819944221775744,"rate_source":"Kelp rsETH rate, bridged wrapper","rate_date":"2026-10-12","rate_series":"price.wrseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"ST-YETH","family":"eth_lst","native":324.5576318079113,"usd":21243.139669381406,"eth":null,"rate":null,"rate_source":"st-yETH ERC-4626 convertToAssets()","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WOETH","family":"eth_lst","native":4,"usd":11489.31447215618,"eth":4.682926353143813,"rate":1.1707315882859533,"rate_source":"wOETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.woeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"YNETH","family":"eth_lrt","native":0,"usd":0,"eth":0,"rate":1.0809924023954194,"rate_source":"ynETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.yneth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":"read for 62 of 106 venues; part of it is the supplied amount each pool reports, or leaves out tokens with no contract rate read; $1.47bn of ether whose custody does not count is stated beside it, never added; $112.0m of synthetic ether (ALETH, LIQUIDETH, SAVETH, XETH) is not ether collateral: stated beside it, never added","synthetic_excluded_usd":112021101.48652114,"synthetic_excluded":[{"token":"ALETH","native":32.21760500125933,"usd":77650.06731379384},{"token":"LIQUIDETH","native":33682.54321726406,"usd":92975008.22770602},{"token":"SAVETH","native":1681.3748757076876,"usd":4374551.262258863},{"token":"XETH","native":5855.6625617315685,"usd":14593891.929242462}]},"debt":{"usd":4467426925.50252,"low":null,"high":null,"kind":"partial","coverage":{"in":28,"of":106},"excluded":[],"limitation":"dollar debt against ether read for 28 of 106 venues; part of it is partial (the ether-only borrowers in a pool)"},"ltv":{"value":0.23151607788807327,"debt_usd":4467426925.50252,"collateral_usd":19296400346.166466,"kind":"partial","coverage":{"in":28,"of":106},"limitation":"both sides read for 28 of 106 venues; isolated and CDP sides at the day's ETH fixing; pooled sides at each pool's oracle"},"borrow":{"value":5.035378641593719,"weight_usd":9688818090.818748,"low":1.3763056019254796,"high":22.109227211305505,"kind":"partial","coverage":{"in":65,"of":106},"limitation":"weighted by dollar debt for 65 of 106 venues; 5 rate(s) carry no weight and are not in it"},"lend":{"value":3.1627774278439786,"weight_usd":12281823130.063194,"low":0,"high":14.694085270433408,"kind":"partial","coverage":{"in":55,"of":106},"limitation":"weighted by dollar supply for 55 of 106 venues"},"liquidation":{"eth_price":1168.6321326210798,"unit":"USD_per_ETH","debt_usd":1017932656.8894353,"headroom_pct":0.5236775714067519,"eth_price_ref":2453.447628054114,"kind":"derived","coverage":{"in":17,"of":106},"threshold_low":0.5714285714285714,"threshold_high":0.9090909090909091,"limitation":"the priced books of 17 of 106 venues taken as one position, in USD per ETH — an aggregate, not a forecast"},"books":{"btc":{"debt":363.22614358326626,"collateral_eth":599.3802368630423,"ltv":null,"borrow_rate":0.4457170319940968,"asset":"mixed","kind":"partial","coverage":{"in":11,"of":106},"limitation":"BTC lent against ether, read in its own units for 11 of 106 venues; a separate book, never added to another currency; its LTV covers the 3 carrying both sides; its rate covers the 3 with a rate read","ltv_debt":11.36279492,"ltv_collateral_eth":599.3802368630423,"venue_priced":null},"chf":{"debt":6644835.967147821,"collateral_eth":6557.711882192672,"ltv":null,"borrow_rate":1.1890185041843175,"asset":"mixed","kind":"partial","coverage":{"in":2,"of":106},"limitation":"CHF lent against ether, read in its own units for 2 of 106 venues; a separate book, never added to another currency","ltv_debt":6644835.967147821,"ltv_collateral_eth":6557.711882192672,"venue_priced":null},"eth":{"debt":2514838.4965808988,"collateral_eth":136758.9057490943,"ltv":0.8907678473692324,"borrow_rate":2.0891851555998064,"asset":"mixed","kind":"partial","coverage":{"in":17,"of":106},"limitation":"ether lent against ether, in ETH, read for 17 of 106 venues — leverage on staking yield: outside the headline; a separate book, never added to another currency; its LTV covers the 7 carrying both sides; its rate covers the 7 with a rate read","ltv_debt":121820.43608269247,"ltv_collateral_eth":136758.9057490943,"venue_priced":null},"eur":{"debt":11604737.627399554,"collateral_eth":11352.065779789185,"ltv":null,"borrow_rate":2.2948833585422923,"asset":"mixed","kind":"partial","coverage":{"in":3,"of":106},"limitation":"EUR lent against ether, read in its own units for 3 of 106 venues; a separate book, never added to another currency","ltv_debt":11604737.627399554,"ltv_collateral_eth":11352.065779789185,"venue_priced":null},"other":{"debt":null,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"venue_priced":{"debt_usd":9807888.699675944,"coverage":{"in":6,"of":106},"limitation":"debt against ether in loan currencies the reads do not split, at 6 of 106 venues, as the venues' own USD valuation ($9.8m)"}}},"ltv_all":{"value":0.5514995316040563,"debt_usd":10852045121.575417,"collateral_usd":19677342408.636055,"kind":"partial","coverage":{"in":29,"of":106},"limitation":"every loan currency's debt over the ether securing it, for 29 of 106 venues; pooled sides at each pool's oracle, isolated and CDP sides at the day's ETH fixing; ether lent against ether is in it (the dollar LTV is the headline)"},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null}},"share_of_parent":null,"share_of_market":null,"vs_parent":null},"outside":[],"outside_secured":[],"classes":{"algorithmic":{"id":"algorithmic","level":"class","name":"Algorithmic","children":["aave_v3","spark","morpho_blue","fluid_lending","aave_v4","curve_llamalend","tydro","compound_v3","dolomite","euler_v2","aave_v2","fraxlend","gearbox","etherfi_borrowing","moonwell_lending","inverse_finance_firm","neverland","arcadia_v2","uwu_lend","extra_finance_xlend","fira","tender_finance","benqi_lending","curvance","exactly","folks_finance_xchain","hyperlend_pooled","hypurrfi_pooled","justlend_v1","kamino_lend","kinetic","kinza_finance","layerbank","lista_cdp","navi_lending","save","scallop_lend","tectonic","venus_core_pool"],"venue_count":95,"metrics":{"collateral":{"eth":8607393.169455828,"usd":21374975656.838223,"kind":"partial","coverage":{"in":57,"of":95},"uncounted_usd":1466014688.5667505,"parts":[{"token":"WETH","family":"eth_native","native":3378345.832968128,"usd":8393260719.831497,"eth":3378345.832968128,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WSTETH","family":"eth_lst","native":2421817.377091871,"usd":7490189187.700168,"eth":3017982.9145123675,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"WEETH","family":"eth_lrt","native":1622306.4866011778,"usd":4455712839.003736,"eth":1793667.6553462578,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"OSETH","family":"eth_lst","native":118993.13838512335,"usd":319516306.866309,"eth":128617.4966500675,"rate":1.0808816238949404,"rate_source":"StakeWise OsTokenVaultController convertToAssets()","rate_date":"2026-10-12","rate_series":"price.oseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.oseth_vs_eth","peg_value":0.9960166731118315,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"ETH","family":"eth_native","native":110613.82457246158,"usd":273849606.0077364,"eth":110613.82457246158,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"CBETH","family":"eth_lst","native":76079.04660805342,"usd":215942573.27183765,"eth":86844.15330639156,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"RETH","family":"eth_lst","native":38695.49141504174,"usd":112784935.70712154,"eth":45415.309591919526,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"TETH","family":"eth_lrt","native":17328.669980844155,"usd":54004459.459888816,"eth":21759.51759763951,"rate":1.2556946160145819,"rate_source":"to be read (Treehouse tETH)","rate_date":"2026-10-12","rate_series":"price.teth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"OETH","family":"eth_lst","native":8849.174795043491,"usd":21976032.273056835,"eth":8849.174795043491,"rate":1,"rate_source":"1:1 rebasing (Origin)","rate_date":"2026-10-12","rate_series":"price.oeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"SFRXETH","family":"eth_lst","native":5392.667644873268,"usd":15604154.033607105,"eth":6318.092921099201,"rate":1.1716080680599186,"rate_source":"sfrxETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.sfrxeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"STETH","family":"eth_lst","native":3422.9449141574173,"usd":8398147.304331763,"eth":3422.9449141574173,"rate":1,"rate_source":"1:1 rebasing (Lido)","rate_date":"2026-10-12","rate_series":"price.steth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.steth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"METH","family":"eth_lst","native":1383.9478695666037,"usd":3779598.8967894525,"eth":1523.138153156266,"rate":1.100574802454988,"rate_source":"Mantle staking mETHToETH()","rate_date":"2026-10-12","rate_series":"price.meth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"RSETH","family":"eth_lrt","native":1263.7440872437776,"usd":3395671.175188936,"eth":1367.3640534576573,"rate":1.0819944221775744,"rate_source":"Kelp LRTOracle rsETHPrice()","rate_date":"2026-10-12","rate_series":"price.rseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WSUPEROETHB","family":"eth_lst","native":790.6958184501822,"usd":2153865.0859643705,"eth":877.8932399345688,"rate":1.1102793507309796,"rate_source":"wsuperOETHb ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.wsuperoethb_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WEETHS","family":"eth_lrt","native":437.4362110593806,"usd":1142411.3288710192,"eth":465.6350988739433,"rate":1.0644639997824388,"rate_source":"to be read (ether.fi liquid vault)","rate_date":"2026-10-12","rate_series":"price.weeths_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"EZETH","family":"eth_lrt","native":395.988413112038,"usd":1059196.0956860175,"eth":430.63656618224536,"rate":1.0874978962084028,"rate_source":"Renzo RestakeManager calculateTVLs() / ezETH supply","rate_date":"2026-10-12","rate_series":"price.ezeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"SUPEROETHB","family":"eth_lst","native":375.3660015914613,"usd":933658.8922341424,"eth":375.3660015914613,"rate":1,"rate_source":"1:1 rebasing (Origin, Base)","rate_date":"2026-10-12","rate_series":"price.superoethb_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"LSETH","family":"eth_lst","native":255.42374420943247,"usd":706534.1312318145,"eth":285.89916846492554,"rate":1.1193131999134154,"rate_source":"lsETH.underlyingBalanceFromShares()","rate_date":"2026-10-12","rate_series":"price.lseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"YOETH","family":"eth_lst","native":106.07806853609985,"usd":284440.11557455076,"eth":115.93408044855407,"rate":1.0929128145758054,"rate_source":"yoETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.yoeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"PUFETH","family":"eth_lrt","native":65.24321992515553,"usd":173698.54722635812,"eth":70.79774043141431,"rate":1.0851355974249999,"rate_source":"pufETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.pufeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WRSETH","family":"eth_lrt","native":35.95697963091308,"usd":96131.79568047704,"eth":38.90525139900062,"rate":1.0819944221775744,"rate_source":"Kelp rsETH rate, bridged wrapper","rate_date":"2026-10-12","rate_series":"price.wrseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"ST-YETH","family":"eth_lst","native":324.5576318079113,"usd":21243.139669381406,"eth":null,"rate":null,"rate_source":"st-yETH ERC-4626 convertToAssets()","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WOETH","family":"eth_lst","native":4,"usd":11489.31447215618,"eth":4.682926353143813,"rate":1.1707315882859533,"rate_source":"wOETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.woeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"YNETH","family":"eth_lrt","native":0,"usd":0,"eth":0,"rate":1.0809924023954194,"rate_source":"ynETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.yneth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":"read for 57 of 95 venues; part of it is the supplied amount each pool reports, or leaves out tokens with no contract rate read; $1.47bn of ether whose custody does not count is stated beside it, never added; $112.0m of synthetic ether (ALETH, LIQUIDETH, SAVETH, XETH) is not ether collateral: stated beside it, never added","synthetic_excluded_usd":112021101.48652114,"synthetic_excluded":[{"token":"ALETH","native":32.21760500125933,"usd":77650.06731379384},{"token":"LIQUIDETH","native":33682.54321726406,"usd":92975008.22770602},{"token":"SAVETH","native":1681.3748757076876,"usd":4374551.262258863},{"token":"XETH","native":5855.6625617315685,"usd":14593891.929242462}]},"debt":{"usd":3981076211.164385,"low":null,"high":null,"kind":"partial","coverage":{"in":24,"of":95},"excluded":[],"limitation":"dollar debt against ether read for 24 of 95 venues; part of it is partial (the ether-only borrowers in a pool)"},"ltv":{"value":0.22778498424798538,"debt_usd":3981076211.164385,"collateral_usd":17477342610.214638,"kind":"partial","coverage":{"in":24,"of":95},"limitation":"both sides read for 24 of 95 venues; isolated and CDP sides at the day's ETH fixing; pooled sides at each pool's oracle"},"borrow":{"value":4.841364188827805,"weight_usd":9228469484.746101,"low":1.3763056019254796,"high":22.109227211305505,"kind":"partial","coverage":{"in":62,"of":95},"limitation":"weighted by dollar debt for 62 of 95 venues"},"lend":{"value":3.1627774278439786,"weight_usd":12281823130.063194,"low":0,"high":14.694085270433408,"kind":"partial","coverage":{"in":55,"of":95},"limitation":"weighted by dollar supply for 55 of 95 venues"},"liquidation":{"eth_price":1299.9419136794206,"unit":"USD_per_ETH","debt_usd":557584050.8167893,"headroom_pct":0.47015705621137116,"eth_price_ref":2453.447628054114,"kind":"derived","coverage":{"in":14,"of":95},"threshold_low":0.7,"threshold_high":0.9014285714285714,"limitation":"the priced books of 14 of 95 venues taken as one position, in USD per ETH — an aggregate, not a forecast"},"books":{"btc":{"debt":363.22614358326626,"collateral_eth":599.3802368630423,"ltv":null,"borrow_rate":0.4457170319940968,"asset":"mixed","kind":"partial","coverage":{"in":11,"of":95},"limitation":"BTC lent against ether, read in its own units for 11 of 95 venues; a separate book, never added to another currency; its LTV covers the 3 carrying both sides; its rate covers the 3 with a rate read","ltv_debt":11.36279492,"ltv_collateral_eth":599.3802368630423,"venue_priced":null},"chf":{"debt":169239.3292258893,"collateral_eth":159.31712045586892,"ltv":null,"borrow_rate":2.0649558260592,"asset":"VCHF","kind":"partial","coverage":{"in":1,"of":95},"limitation":"CHF lent against ether, read in its own units for 1 of 95 venues; a separate book, never added to another currency","ltv_debt":169239.3292258893,"ltv_collateral_eth":159.31712045586892,"venue_priced":null},"eth":{"debt":2514838.4965808988,"collateral_eth":136758.9057490943,"ltv":0.8907678473692324,"borrow_rate":2.0891851555998064,"asset":"mixed","kind":"partial","coverage":{"in":17,"of":95},"limitation":"ether lent against ether, in ETH, read for 17 of 95 venues — leverage on staking yield: outside the headline; a separate book, never added to another currency; its LTV covers the 7 carrying both sides; its rate covers the 7 with a rate read","ltv_debt":121820.43608269247,"ltv_collateral_eth":136758.9057490943,"venue_priced":null},"eur":{"debt":11604737.627399554,"collateral_eth":11352.065779789185,"ltv":null,"borrow_rate":2.2948833585422923,"asset":"mixed","kind":"partial","coverage":{"in":3,"of":95},"limitation":"EUR lent against ether, read in its own units for 3 of 95 venues; a separate book, never added to another currency","ltv_debt":11604737.627399554,"ltv_collateral_eth":11352.065779789185,"venue_priced":null},"other":{"debt":null,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"venue_priced":{"debt_usd":9807888.699675944,"coverage":{"in":6,"of":95},"limitation":"debt against ether in loan currencies the reads do not split, at 6 of 95 venues, as the venues' own USD valuation ($9.8m)"}}},"ltv_all":{"value":0.5805148189276665,"debt_usd":10357885898.087488,"collateral_usd":17842586546.23269,"kind":"partial","coverage":{"in":24,"of":95},"limitation":"every loan currency's debt over the ether securing it, for 24 of 95 venues; pooled sides at each pool's oracle, isolated and CDP sides at the day's ETH fixing; ether lent against ether is in it (the dollar LTV is the headline)"},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null}},"secured":true,"no_lien":false,"share_of_parent":{"collateral":0.9200630725291982,"debt":0.8911340414855409},"share_of_market":{"collateral":0.9200630725291982,"debt":0.8911340414855409},"vs_parent":{"ltv":-0.0037310936400878902,"borrow":-0.19401445276591378,"lend":0,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}},"secured_view":{"share_of_parent":{"collateral":0.9200630725291982,"debt":0.8911340414855409},"share_of_market":{"collateral":0.9200630725291982,"debt":0.8911340414855409},"vs_parent":{"ltv":-0.0037310936400878902,"borrow":-0.19401445276591378,"lend":0,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}}}},"posted-card":{"id":"posted-card","level":"class","name":"Posted card","children":["arch","figure","galaxy","milo","nexo","salt"],"venue_count":6,"metrics":{"collateral":{"eth":null,"usd":null,"uncounted_usd":null,"synthetic_excluded_usd":null,"synthetic_excluded":null,"absent_kind":"not_read","absent_because":"no venue here has an ether collateral read","coverage":{"in":0,"of":6}},"debt":{"usd":null,"absent_kind":"not_read","excluded":[],"coverage":{"in":0,"of":6},"absent_because":"no venue here has dollar debt against ether read"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its dollar debt and its ether collateral","coverage":{"in":0,"of":6}},"borrow":{"value":10.49,"weight_usd":null,"low":8.75,"high":17.9,"kind":"posted","coverage":{"in":5,"of":6},"limitation":"the median of 5 rate(s): they carry no dollar weight, so none is weighted"},"lend":{"value":null,"absent_kind":"not_read","absent_because":"no lend rate against ether is read for any venue here","coverage":{"in":0,"of":6}},"liquidation":{"eth_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold against ether is read for any venue here","coverage":{"in":0,"of":6}},"books":{},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its ether collateral","coverage":{"in":0,"of":6}},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"secured":true,"no_lien":false,"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":5.454621358406281,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}},"secured_view":{"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":5.454621358406281,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}}}},"minted":{"id":"minted","level":"class","name":"Minted","children":["sky","liquity_v2","crvusd","liquity_v1","frankencoin"],"venue_count":5,"metrics":{"collateral":{"eth":747827.6044793976,"usd":1840099638.6919963,"kind":"exact","coverage":{"in":5,"of":5},"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":579620.0684911908,"usd":1423668797.013891,"eth":579620.0684911908,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WSTETH","family":"eth_lst","native":65903.64159189582,"usd":202858800.2783895,"eth":82126.78057803164,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"ETH","family":"eth_native","native":72001.21954003103,"usd":178779748.13009247,"eth":72001.21954003103,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"RETH","family":"eth_lst","native":5650.730439119966,"usd":16414179.068069402,"eth":6632.030320032563,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"LSETH","family":"eth_lst","native":2860.951668759467,"usd":7856677.712186207,"eth":3202.3009671567843,"rate":1.1193131999134154,"rate_source":"lsETH.underlyingBalanceFromShares()","rate_date":"2026-10-12","rate_series":"price.lseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WEETH","family":"eth_lrt","native":2034.2875800733336,"usd":5577386.250727592,"eth":2249.165533261636,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"SFRXETH","family":"eth_lst","native":1703.674722040992,"usd":4944050.238640244,"eth":1996.0390496929654,"rate":1.1716080680599186,"rate_source":"sfrxETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.sfrxeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":486350714.3381347,"low":null,"high":null,"kind":"partial","coverage":{"in":4,"of":5},"excluded":[],"limitation":"dollar debt against ether read for 4 of 5 venues"},"ltv":{"value":0.2673640889598533,"debt_usd":486350714.3381347,"collateral_usd":1819057735.951831,"kind":"partial","coverage":{"in":4,"of":5},"limitation":"both sides read for 4 of 5 venues; isolated and CDP sides at the day's ETH fixing; pooled sides at each pool's oracle"},"borrow":{"value":8.924727785549662,"weight_usd":460348606.072646,"low":3.38412325534216,"high":9.939279561501587,"kind":"partial","coverage":{"in":3,"of":5},"limitation":"weighted by dollar debt for 3 of 5 venues"},"lend":{"value":null,"absent_kind":"not_read","absent_because":"no lend rate against ether is read for any venue here","coverage":{"in":0,"of":5}},"liquidation":{"eth_price":1041.238725606237,"unit":"USD_per_ETH","debt_usd":460348606.072646,"headroom_pct":0.5756018128530147,"eth_price_ref":2453.447628054114,"kind":"derived","coverage":{"in":3,"of":5},"threshold_low":0.5714285714285714,"threshold_high":0.9090909090909091,"limitation":"the priced books of 3 of 5 venues taken as one position, in USD per ETH — an aggregate, not a forecast"},"books":{"chf":{"debt":6475596.637921931,"collateral_eth":6398.394761736803,"ltv":null,"borrow_rate":1.16612593488346,"asset":"ZCHF","kind":"partial","coverage":{"in":1,"of":5},"limitation":"CHF lent against ether, read in its own units for 1 of 5 venues; a separate book, never added to another currency","ltv_debt":6475596.637921931,"ltv_collateral_eth":6398.394761736803,"venue_priced":null}},"ltv_all":{"value":0.269332412891501,"debt_usd":494159223.487926,"collateral_usd":1834755862.4033682,"kind":"converted","coverage":{"in":5,"of":5},"limitation":"every loan currency's debt over the ether securing it, for 5 of 5 venues; pooled sides at each pool's oracle, isolated and CDP sides at the day's ETH fixing; ether lent against ether is in it (the dollar LTV is the headline)"},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null}},"secured":true,"no_lien":false,"share_of_parent":{"collateral":0.07993692747080171,"debt":0.10886595851445907},"share_of_market":{"collateral":0.07993692747080171,"debt":0.10886595851445907},"vs_parent":{"ltv":0.03584801107178004,"borrow":3.8893491439559424,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}},"secured_view":{"share_of_parent":{"collateral":0.07993692747080171,"debt":0.10886595851445907},"share_of_market":{"collateral":0.07993692747080171,"debt":0.10886595851445907},"vs_parent":{"ltv":0.03584801107178004,"borrow":3.8893491439559424,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"market","id":"market","name":"The market"}}}}},"families":{"aave_v2":{"id":"aave_v2","level":"family","name":"Aave v2","class_id":"algorithmic","children":["aave_v2_ethereum","aave_v2_polygon","aave_v2_avalanche"],"single_deployment":false,"metrics":{"collateral":{"eth":12752.912525134707,"usd":31288602.985573344,"kind":"partial","coverage":{"in":2,"of":3},"uncounted_usd":1365392.0791557713,"parts":[{"token":"WETH","family":"eth_native","native":9335.02265949954,"usd":22902989.20178055,"eth":9335.02265949954,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"STETH","family":"eth_lst","native":3417.889865635166,"usd":8385613.783792793,"eth":3417.889865635166,"rate":1,"rate_source":"1:1 rebasing (Lido)","rate_date":"2026-10-12","rate_series":"price.steth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.steth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"}],"low":null,"high":null,"limitation":"read for 2 of 3 deployments; part of it is the supplied amount each pool reports, or leaves out tokens with no contract rate read; $1.4m of ether whose custody does not count is stated beside it, never added","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"absent_kind":"not_read","excluded":[],"coverage":{"in":0,"of":3},"absent_because":"no deployment here has dollar debt against ether read"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its dollar debt and its ether collateral","coverage":{"in":0,"of":3}},"borrow":{"value":12.325361176254818,"weight_usd":11887038.51725376,"low":10.689153955335906,"high":22.109227211305505,"kind":"exact","coverage":{"in":3,"of":3},"limitation":null},"lend":{"value":0.3533443950203409,"weight_usd":46693547.31317402,"low":0.0007041978807753393,"high":1.272444589135615,"kind":"exact","coverage":{"in":3,"of":3},"limitation":null},"liquidation":{"eth_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold against ether is read for any deployment here","coverage":{"in":0,"of":3}},"books":{},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its ether collateral","coverage":{"in":0,"of":3}},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.0014816230970358898,"debt":null},"share_of_market":{"collateral":0.001363186698989067,"debt":null},"vs_parent":{"ltv":null,"borrow":7.4839969874270125,"lend":-2.809433032823638,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.001363186698989067,"debt":null}}},"aave_v3":{"id":"aave_v3","level":"family","name":"Aave v3","class_id":"algorithmic","children":["aave_v3_ethereum","aave_v3_arbitrum","aave_v3_base","aave_v3_optimism","aave_v3_linea","aave_v3_megaeth","aave_v3_mantle","aave_v3_gnosis","aave_v3_polygon","aave_v3_monad","aave_v3_avalanche","aave_v3_bsc","aave_v3_celo","aave_v3_sonic","aave_v3_xlayer"],"single_deployment":false,"metrics":{"collateral":{"eth":5346292.236920544,"usd":13283338490.278051,"kind":"partial","coverage":{"in":10,"of":15},"uncounted_usd":114188461.38624234,"parts":[{"token":"WETH","family":"eth_native","native":2424550.422022935,"usd":6024221903.12761,"eth":2424550.422022935,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WEETH","family":"eth_lrt","native":1415406.6605492872,"usd":3887845004.569204,"eth":1564913.3916167587,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"WSTETH","family":"eth_lst","native":884374.0932455609,"usd":2738168867.19658,"eth":1102075.6266343452,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"OSETH","family":"eth_lst","native":118993.13838512335,"usd":319516306.866309,"eth":128617.4966500675,"rate":1.0808816238949404,"rate_source":"StakeWise OsTokenVaultController convertToAssets()","rate_date":"2026-10-12","rate_series":"price.oseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.oseth_vs_eth","peg_value":0.9960166731118315,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"CBETH","family":"eth_lst","native":57564.979273568315,"usd":163477856.9155424,"eth":65710.36452215248,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"RETH","family":"eth_lst","native":34712.776924921796,"usd":101209320.53970708,"eth":40740.961109173266,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"TETH","family":"eth_lrt","native":15675.765519793138,"usd":48899231.06309712,"eth":19683.974365111266,"rate":1.2556946160145819,"rate_source":"to be read (Treehouse tETH)","rate_date":"2026-10-12","rate_series":"price.teth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":"read for 10 of 15 deployments; part of it is the supplied amount each pool reports, or leaves out tokens with no contract rate read; $114.2m of ether whose custody does not count is stated beside it, never added; $14.6m of synthetic ether (XETH) is not ether collateral: stated beside it, never added","synthetic_excluded_usd":14593891.929242462,"synthetic_excluded":[{"token":"XETH","native":5855.6625617315685,"usd":14593891.929242462}]},"debt":{"usd":2297947546.704723,"low":null,"high":null,"kind":"partial","coverage":{"in":7,"of":15},"excluded":[],"limitation":"dollar debt against ether read for 7 of 15 deployments; part of it is partial (the ether-only borrowers in a pool)"},"ltv":{"value":0.20365316371567613,"debt_usd":2297947546.704723,"collateral_usd":11283632941.31256,"kind":"partial","coverage":{"in":7,"of":15},"limitation":"both sides read for 7 of 15 deployments"},"borrow":{"value":4.77530490536319,"weight_usd":4720652296.6419525,"low":4.0008546928129,"high":6.634344623198883,"kind":"partial","coverage":{"in":12,"of":15},"limitation":"weighted by dollar debt for 12 of 15 deployments"},"lend":{"value":3.339620971634418,"weight_usd":5875212265.472374,"low":2.7961761297583108,"high":5.277912727772777,"kind":"partial","coverage":{"in":12,"of":15},"limitation":"weighted by dollar supply for 12 of 15 deployments"},"liquidation":{"eth_price":null,"kind":"parameter","coverage":{"in":7,"of":15},"threshold_low":0.74,"threshold_high":0.84,"limitation":"the range of the liquidation thresholds set by 7 of 15 deployments; no ether book here is read to turn them into a price"},"books":{"btc":{"debt":153.08890950326622,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","coverage":{"in":5,"of":15},"limitation":"BTC lent against ether, read in its own units for 5 of 15 deployments; a separate book, never added to another currency; no child here carries both its sides; its rate covers the 0 with a rate read","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"eth":{"debt":1847473.6091812865,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","coverage":{"in":7,"of":15},"limitation":"ether lent against ether, in ETH, read for 7 of 15 deployments — leverage on staking yield: outside the headline; a separate book, never added to another currency; no child here carries both its sides; its rate covers the 0 with a rate read","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"other":{"debt":null,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"venue_priced":{"debt_usd":9653047.761732431,"coverage":{"in":4,"of":15},"limitation":"debt against ether in loan currencies the reads do not split, at 4 of 15 deployments, as the venues' own USD valuation ($9.7m)"}}},"ltv_all":{"value":0.6172654970924459,"debt_usd":6964997296.527995,"collateral_usd":11283632941.31256,"kind":"partial","coverage":{"in":7,"of":15},"limitation":"every loan currency's debt over the ether securing it, for 7 of 15 deployments; pooled sides at each pool's oracle, isolated and CDP sides at the day's ETH fixing; ether lent against ether is in it (the dollar LTV is the headline)"},"debt_all":{"usd":6852792981.3861885,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":2297947546.704723,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2297947546.704723,"share":0.3353300694981584},{"currency":"btc","basis":"native","native":153.08890950326622,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":12512642.581332203,"share":0.0018259186605110514},{"currency":"eth","basis":"native","native":1847473.6091812865,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":4532679744.338401,"share":0.6614353821354643},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":9653047.761732431,"share":0.001408629705866265}],"limitation":"all debt secured by ether here in 4 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.6211279224344465,"debt":0.5772176730152622},"share_of_market":{"collateral":0.5714768647487143,"debt":0.5143783177709701},"vs_parent":{"ltv":-0.02413182053230925,"borrow":-0.06605928346461543,"lend":0.1768435437904392,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.5714768647487143,"debt":0.5143783177709701}}},"aave_v4":{"id":"aave_v4","level":"family","name":"Aave v4","class_id":"algorithmic","children":["aave_v4_ethereum","aave_v4_avalanche"],"single_deployment":false,"metrics":{"collateral":{"eth":128524.16804996262,"usd":319283218.88587445,"kind":"partial","coverage":{"in":1,"of":2},"uncounted_usd":1757637.3314988022,"parts":[{"token":"WEETH","family":"eth_lrt","native":50918.764525239734,"usd":139855920.16515768,"eth":56297.21740832042,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"WETH","family":"eth_native","native":46363.96360950831,"usd":115178069.60617858,"eth":46363.96360950831,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WSTETH","family":"eth_lst","native":19701.642232212704,"usd":60991182.45759274,"eth":24551.487741017092,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"RSETH","family":"eth_lrt","native":1212.1128022798302,"usd":3258046.656945477,"eth":1311.4992911168054,"rate":1.0819944221775744,"rate_source":"Kelp LRTOracle rsETHPrice()","rate_date":"2026-10-12","rate_series":"price.rseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":"read for 1 of 2 deployments; part of it is the supplied amount each pool reports, or leaves out tokens with no contract rate read; $1.8m of ether whose custody does not count is stated beside it, never added","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":70552908.12622876,"low":null,"high":null,"kind":"partial","coverage":{"in":1,"of":2},"excluded":[],"limitation":"dollar debt against ether read for 1 of 2 deployments; part of it is partial (the ether-only borrowers in a pool)"},"ltv":{"value":0.2610562544772855,"debt_usd":70552908.12622876,"collateral_usd":270259405.4584031,"kind":"partial","coverage":{"in":1,"of":2},"limitation":"both sides read for 1 of 2 deployments"},"borrow":{"value":4.378227400206052,"weight_usd":196783447.0400598,"low":1.3763056019254796,"high":4.465974994890205,"kind":"exact","coverage":{"in":2,"of":2},"limitation":null},"lend":{"value":2.781903304061979,"weight_usd":264609598.76690388,"low":0.3679080793877349,"high":2.9687952357369602,"kind":"exact","coverage":{"in":2,"of":2},"limitation":null},"liquidation":{"eth_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold against ether is read for any deployment here","coverage":{"in":0,"of":2}},"books":{"btc":{"debt":0.12958852000000004,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","coverage":{"in":1,"of":2},"limitation":"BTC lent against ether, read in its own units for 1 of 2 deployments; a separate book, never added to another currency; no child here carries both its sides; its rate covers the 0 with a rate read","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"eth":{"debt":39967.028899212026,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","coverage":{"in":1,"of":2},"limitation":"ether lent against ether, in ETH, read for 1 of 2 deployments — leverage on staking yield: outside the headline; a separate book, never added to another currency; no child here carries both its sides; its rate covers the 0 with a rate read","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"other":{"debt":null,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"coverage":null,"limitation":null,"venue_priced":{"debt_usd":150465.03993279437,"coverage":{"in":1,"of":2},"limitation":"debt against ether in loan currencies the reads do not split, at 1 of 2 deployments, as the venues' own USD valuation ($150,465)"}}},"ltv_all":{"value":0.6359984466562151,"debt_usd":171884562.0657766,"collateral_usd":270259405.4584031,"kind":"partial","coverage":{"in":1,"of":2},"limitation":"every loan currency's debt over the ether securing it, for 1 of 2 deployments; pooled sides at each pool's oracle, isolated and CDP sides at the day's ETH fixing; ether lent against ether is in it (the dollar LTV is the headline)"},"debt_all":{"usd":168770977.26974303,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":70552908.12622876,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":70552908.12622876,"share":0.41803934105012364},{"currency":"btc","basis":"native","native":0.12958852000000004,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":10591.850439493954,"share":0.00006275871960239483},{"currency":"eth","basis":"native","native":39967.028899212026,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":98057012.25314197,"share":0.5810063663755384},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":150465.03993279437,"share":0.0008915338547356358}],"limitation":"all debt secured by ether here in 4 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.014931834240597157,"debt":0.01772206920540048},"share_of_market":{"collateral":0.013738229289900507,"debt":0.01579273915449498},"vs_parent":{"ltv":0.0332712702293001,"borrow":-0.4631367886217532,"lend":-0.3808741237819997,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.013738229289900507,"debt":0.01579273915449498}}},"arcadia_v2":{"id":"arcadia_v2","level":"family","name":"Arcadia v2","class_id":"algorithmic","children":["arcadia_v2_base","arcadia_v2_optimism"],"single_deployment":false,"metrics":{"collateral":{"eth":138.00885204178113,"usd":338597.49069237907,"kind":"partial","coverage":{"in":1,"of":2},"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":138.00885204178113,"usd":338597.49069237907,"eth":138.00885204178113,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":"read for 1 of 2 deployments; part of it is the supplied amount each pool reports, or leaves out tokens with no contract rate read","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"absent_kind":"not_read","excluded":[],"coverage":{"in":0,"of":2},"absent_because":"no deployment here has dollar debt against ether read"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its dollar debt and its ether collateral","coverage":{"in":0,"of":2}},"borrow":{"value":12.364215193345474,"weight_usd":1856883.8728783333,"low":12.364215193345476,"high":12.364215193345476,"kind":"partial","coverage":{"in":1,"of":2},"limitation":"weighted by dollar debt for 1 of 2 deployments"},"lend":{"value":9.800726495036306,"weight_usd":2258831.9375106003,"low":9.800726495036306,"high":9.800726495036306,"kind":"partial","coverage":{"in":1,"of":2},"limitation":"weighted by dollar supply for 1 of 2 deployments"},"liquidation":{"eth_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold against ether is read for any deployment here","coverage":{"in":0,"of":2}},"books":{},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its ether collateral","coverage":{"in":0,"of":2}},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.00001603375718115433,"debt":null},"share_of_market":{"collateral":0.00001475206789627995,"debt":null},"vs_parent":{"ltv":null,"borrow":7.522851004517669,"lend":6.637949067192327,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00001475206789627995,"debt":null}}},"benqi_lending":{"id":"benqi_lending","level":"family","name":"BENQI Lending","class_id":"algorithmic","children":["benqi_lending_avalanche"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":3425507.1030427907,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($3m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":8.205257158504162,"weight_usd":17412093.221182246,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":5.900260689835655,"weight_usd":20365528.40030799,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":3.363892969676357,"lend":2.737483261991676,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"arch":{"id":"arch","level":"family","name":"Arch","class_id":"posted-card","children":["cefi_arch"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether collateral total","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no book against ether","observer":null},"ltv":{"value":0.55,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's ether card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"borrow":{"value":10.49,"weight_usd":null,"low":7.25,"high":10.49,"kind":"posted","limitation":"a price the desk posts for a loan against ether, not one a market cleared; APR as the desk files it","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states no liquidation threshold for ether","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":0,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"figure":{"id":"figure","level":"family","name":"Figure","class_id":"posted-card","children":["cefi_figure"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether collateral total","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no book against ether","observer":null},"ltv":{"value":0.75,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's ether card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"borrow":{"value":9.999,"weight_usd":null,"low":9.999,"high":12.62,"kind":"posted","limitation":"a price the desk posts for a loan against ether, not one a market cleared; APR as the desk files it","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states no liquidation threshold for ether","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.49099999999999966,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"galaxy":{"id":"galaxy","level":"family","name":"Galaxy Digital","class_id":"posted-card","children":["cefi_galaxy"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether collateral total","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no book against ether","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no realised LTV","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether borrow rate","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states no liquidation threshold for ether","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"milo":{"id":"milo","level":"family","name":"Milo","class_id":"posted-card","children":["cefi_milo"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether collateral total","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no book against ether","observer":null},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's ether card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"borrow":{"value":10.75,"weight_usd":null,"low":10.75,"high":10.75,"kind":"posted","limitation":"a price the desk posts for a loan against ether, not one a market cleared; APR as the desk files it","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states no liquidation threshold for ether","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":0.2599999999999998,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"nexo":{"id":"nexo","level":"family","name":"Nexo","class_id":"posted-card","children":["cefi_nexo"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether collateral total","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no book against ether","observer":null},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's ether card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"borrow":{"value":17.9,"weight_usd":null,"low":1.9,"high":17.9,"kind":"posted","limitation":"a price the desk posts for a loan against ether, not one a market cleared; APR as the desk files it","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states no liquidation threshold for ether","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":7.409999999999998,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"salt":{"id":"salt","level":"family","name":"SALT","class_id":"posted-card","children":["cefi_salt"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether collateral total","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no book against ether","observer":null},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's ether card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"borrow":{"value":8.75,"weight_usd":null,"low":7.49,"high":8.75,"kind":"posted","limitation":"a price the desk posts for a loan against ether, not one a market cleared; APR as the desk files it","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states no liquidation threshold for ether","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.7400000000000002,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"compound_v3":{"id":"compound_v3","level":"family","name":"Compound v3","class_id":"algorithmic","children":["compound_v3_ethereum","compound_v3_arbitrum","compound_v3_base","compound_v3_optimism","compound_v3_polygon","compound_v3_scroll"],"single_deployment":false,"metrics":{"collateral":{"eth":292635.9456475569,"usd":725351732.4509685,"kind":"partial","coverage":{"in":6,"of":6},"uncounted_usd":1285341.3489408388,"parts":[{"token":"WSTETH","family":"eth_lst","native":99696.81708915219,"usd":308193145.81101584,"eth":124238.6372533291,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"WETH","family":"eth_native","native":107427.93149118841,"usd":267548044.4953207,"eth":107427.93149118841,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"ETH","family":"eth_native","native":50945.121648697415,"usd":124991187.86992496,"eth":50945.121648697415,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WEETH","family":"eth_lrt","native":5673.697838909453,"usd":15395841.9544542,"eth":6272.999820878889,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"TETH","family":"eth_lrt","native":1298.4661310081242,"usd":3999225.4519288656,"eth":1630.4769297841863,"rate":1.2556946160145819,"rate_source":"to be read (Treehouse tETH)","rate_date":"2026-10-12","rate_series":"price.teth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WSUPEROETHB","family":"eth_lst","native":690.2110625368479,"usd":1880143.380970426,"eth":766.327090380751,"rate":1.1102793507309796,"rate_source":"wsuperOETHb ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.wsuperoethb_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"CBETH","family":"eth_lst","native":642.3004481494097,"usd":1817402.7570379232,"eth":733.1852996952078,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"EZETH","family":"eth_lrt","native":348.5570166624049,"usd":931695.1547687224,"eth":379.0550223290426,"rate":1.0874978962084028,"rate_source":"Renzo RestakeManager calculateTVLs() / ezETH supply","rate_date":"2026-10-12","rate_series":"price.ezeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"RETH","family":"eth_lst","native":77.6345211874216,"usd":223549.43774705435,"eth":91.11645015513712,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"PUFETH","family":"eth_lrt","native":60.750692830750076,"usd":161737.98740818424,"eth":65.92273935887864,"rate":1.0851355974249999,"rate_source":"pufETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.pufeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"RSETH","family":"eth_lrt","native":51.63128496394742,"usd":137624.51824345905,"eth":55.864762340851975,"rate":1.0819944221775744,"rate_source":"Kelp LRTOracle rsETHPrice()","rate_date":"2026-10-12","rate_series":"price.rseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WRSETH","family":"eth_lrt","native":17.210129505216166,"usd":45686.29621818413,"eth":18.62126412959759,"rate":1.0819944221775744,"rate_source":"Kelp rsETH rate, bridged wrapper","rate_date":"2026-10-12","rate_series":"price.wrseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"METH","family":"eth_lst","native":5.454376134152776,"usd":14958.021457752367,"eth":6.002948936360392,"rate":1.100574802454988,"rate_source":"Mantle staking mETHToETH()","rate_date":"2026-10-12","rate_series":"price.meth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WOETH","family":"eth_lst","native":4,"usd":11489.31447215618,"eth":4.682926353143813,"rate":1.1707315882859533,"rate_source":"wOETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.woeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":"part of it is the supplied amount each pool reports, or leaves out tokens with no contract rate read; $1.3m of ether whose custody does not count is stated beside it, never added","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"absent_kind":"not_read","excluded":[],"coverage":{"in":0,"of":6},"absent_because":"no deployment here has dollar debt against ether read"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its dollar debt and its ether collateral","coverage":{"in":0,"of":6}},"borrow":{"value":4.9968022375998675,"weight_usd":497946968.0577763,"low":2.7870243514228488,"high":6.366882497937811,"kind":"partial","coverage":{"in":5,"of":6},"limitation":"weighted by dollar debt for 5 of 6 deployments"},"lend":{"value":4.114137935473909,"weight_usd":563174596.849602,"low":0,"high":5.253227623982316,"kind":"partial","coverage":{"in":5,"of":6},"limitation":"weighted by dollar supply for 5 of 6 deployments"},"liquidation":{"eth_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold against ether is read for any deployment here","coverage":{"in":0,"of":6}},"books":{},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its ether collateral","coverage":{"in":0,"of":6}},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.033998208271234086,"debt":null},"share_of_market":{"collateral":0.031280495962519236,"debt":null},"vs_parent":{"ltv":null,"borrow":0.15543804877206213,"lend":0.9513605076299307,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.031280495962519236,"debt":null}}},"crvusd":{"id":"crvusd","level":"family","name":"crvUSD","class_id":"minted","children":["crvusd_ethereum"],"single_deployment":true,"metrics":{"collateral":{"eth":27910.324775263227,"usd":69203589.75245655,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"SFRXETH","family":"eth_lst","native":1703.674722040992,"usd":4944050.238640244,"rate":1.1716080680599186,"rate_source":"sfrxETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.sfrxeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":1996.0390496929654},{"token":"WEETH","family":"eth_lrt","native":2034.2875800733336,"usd":5577386.250727592,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":2249.165533261636},{"token":"WETH","family":"eth_native","native":2460.0134772835877,"usd":6100506.347390145,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":2460.0134772835877},{"token":"WSTETH","family":"eth_lst","native":17016.29776583174,"usd":52581646.91569856,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":21205.10671502504}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":33935814.62984756,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.4955832243128647,"debt_usd":33935814.62984756,"collateral_usd":68476520.11808953,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":3.5581942347116935,"weight_usd":33935814.62984756,"low":1.2094963858368,"high":3.578362199856,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg","observer":null},"liquidation":{"eth_price":1371.93342285872,"debt_usd":33935814.62984756,"headroom_pct":0.4408140580743384,"eth_price_ref":2453.447628054114,"threshold_low":0.8371,"threshold_high":0.9014285714285714,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{},"ltv_all":{"value":0.4955832243128647,"debt_usd":33935814.62984756,"collateral_usd":68476520.11808953,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 5 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":33935814.62984756,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":33935814.62984756,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":33935814.62984756,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.03732187018516531,"debt":0.06977642600161521},"share_of_market":{"collateral":0.002983395630066236,"debt":0.007596277498379065},"vs_parent":{"ltv":0.22821913535301142,"borrow":-5.366533550837968,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.002983395630066236,"debt":0.007596277498379065}}},"curvance":{"id":"curvance","level":"family","name":"Curvance","class_id":"algorithmic","children":["curvance_monad"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":15179.405842889753,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($15,179) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":4.302853765468905,"weight_usd":264707.89147251553,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":1.1400763376249263,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"curve_llamalend":{"id":"curve_llamalend","level":"family","name":"Curve LlamaLend","class_id":"algorithmic","children":["curve_llamalend_ethereum","curve_llamalend_arbitrum","curve_llamalend_optimism","curve_llamalend_fraxtal"],"single_deployment":false,"metrics":{"collateral":{"eth":3522.3954536442675,"usd":8747607.616638796,"kind":"exact","coverage":{"in":4,"of":4},"uncounted_usd":null,"parts":[{"token":"WSTETH","family":"eth_lst","native":2041.1684943201349,"usd":6313003.084541036,"eth":2543.631778254193,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"WETH","family":"eth_native","native":978.7635920158152,"usd":2434604.3242074843,"eth":978.7635920158152,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"SFRXETH","family":"eth_lst","native":0.000071162244361912,"usd":0.20789027865387497,"eth":0.00008337425963566756,"rate":1.1716080680599186,"rate_source":"sfrxETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.sfrxeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"YNETH","family":"eth_lrt","native":0,"usd":0,"eth":0,"rate":1.0809924023954194,"rate_source":"ynETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.yneth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":4371224.683830762,"low":null,"high":null,"kind":"exact","coverage":{"in":4,"of":4},"excluded":[],"limitation":null},"ltv":{"value":0.5058109493420687,"debt_usd":4371224.683830762,"collateral_usd":8642012.770812124,"kind":"converted","coverage":{"in":4,"of":4},"limitation":"isolated and CDP sides at the day's ETH fixing; pooled sides at each pool's oracle"},"borrow":{"value":2.77159570354717,"weight_usd":4371224.683830762,"low":2.0000054031408,"high":5.786177364201599,"kind":"exact","coverage":{"in":4,"of":4},"limitation":null},"lend":{"value":null,"absent_kind":"not_read","absent_because":"no lend rate against ether is read for any deployment here","coverage":{"in":0,"of":4}},"liquidation":{"eth_price":1378.618186165459,"unit":"USD_per_ETH","debt_usd":4371224.683830762,"headroom_pct":0.4380894173563945,"eth_price_ref":2453.447628054114,"kind":"derived","coverage":{"in":4,"of":4},"threshold_low":0.8359036144578313,"threshold_high":0.9014285714285714,"limitation":"the priced books of 4 of 4 deployments taken as one position, in USD per ETH — an aggregate, not a forecast"},"books":{},"ltv_all":{"value":0.5058109493420687,"debt_usd":4371224.683830762,"collateral_usd":8642012.770812124,"kind":"converted","coverage":{"in":4,"of":4},"limitation":"every loan currency's debt over the ether securing it, for 4 of 4 deployments; pooled sides at each pool's oracle, isolated and CDP sides at the day's ETH fixing; ether lent against ether is in it (the dollar LTV is the headline)"},"debt_all":{"usd":4371224.683830762,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":4371224.683830762,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":4371224.683830762,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.00040922906439824666,"debt":0.001098000754562864},"share_of_market":{"collateral":0.00037651655035849996,"debt":0.0009784658499677784},"vs_parent":{"ltv":0.27802596509408334,"borrow":-2.0697684852806355,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00037651655035849996,"debt":0.0009784658499677784}}},"dolomite":{"id":"dolomite","level":"family","name":"Dolomite","class_id":"algorithmic","children":["dolomite_ethereum","dolomite_arbitrum","dolomite_berachain"],"single_deployment":false,"metrics":{"collateral":{"eth":32003.23285691539,"usd":79483228.11004217,"kind":"partial","coverage":{"in":2,"of":3},"uncounted_usd":868567.0840084925,"parts":[{"token":"WETH","family":"eth_native","native":20793.45713561026,"usd":51653901.53094925,"eth":20793.45713561026,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WEETH","family":"eth_lrt","native":7168.520997282367,"usd":19677011.774786495,"eth":7925.718324922678,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"WSTETH","family":"eth_lst","native":1390.2540546537534,"usd":4301844.781650488,"eth":1732.485291196837,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"METH","family":"eth_lst","native":1378.4934934324508,"usd":3764640.8753317003,"eth":1517.1352042199057,"rate":1.100574802454988,"rate_source":"Mantle staking mETHToETH()","rate_date":"2026-10-12","rate_series":"price.meth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"RETH","family":"eth_lst","native":16.508437126983225,"usd":48290.156081741785,"eth":19.37527488562256,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"EZETH","family":"eth_lrt","native":13.849797900853558,"usd":37538.99124249761,"eth":15.061626080089797,"rate":1.0874978962084028,"rate_source":"Renzo RestakeManager calculateTVLs() / ezETH supply","rate_date":"2026-10-12","rate_series":"price.ezeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":"read for 2 of 3 deployments; part of it is the supplied amount each pool reports, or leaves out tokens with no contract rate read; $868,567 of ether whose custody does not count is stated beside it, never added","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"absent_kind":"not_read","excluded":[],"coverage":{"in":0,"of":3},"absent_because":"no deployment here has dollar debt against ether read"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its dollar debt and its ether collateral","coverage":{"in":0,"of":3}},"borrow":{"value":4.782343943605578,"weight_usd":321434357.9626833,"low":4.747507444790975,"high":7.763892923331044,"kind":"exact","coverage":{"in":3,"of":3},"limitation":null},"lend":{"value":2.8016548723237813,"weight_usd":443433475.1286346,"low":2.780478941430165,"high":4.431518032953612,"kind":"exact","coverage":{"in":3,"of":3},"limitation":null},"liquidation":{"eth_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold against ether is read for any deployment here","coverage":{"in":0,"of":3}},"books":{},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its ether collateral","coverage":{"in":0,"of":3}},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.0037181097954816305,"debt":null},"share_of_market":{"collateral":0.0034208955224317374,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.05902024522222771,"lend":-0.36112255552019734,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0034208955224317374,"debt":null}}},"etherfi_borrowing":{"id":"etherfi_borrowing","level":"family","name":"EtherFi Borrowing","class_id":"algorithmic","children":["etherfi_borrowing_optimism"],"single_deployment":true,"metrics":{"collateral":{"eth":5788.935353764762,"usd":14422688.833995603,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WEETH","family":"eth_lrt","native":3584.897291392072,"usd":9874445.591818655,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":3963.56321842725},{"token":"WETH","family":"eth_native","native":1825.3721353375126,"usd":4548243.242176949,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":1825.3721353375126}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan; $93m of synthetic ether (LIQUIDETH) is not ether collateral: stated beside it, never added","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":92975008.22770602,"synthetic_excluded":[{"token":"LIQUIDETH","native":33682.54321726406,"usd":92975008.22770602}]},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":4.009534020258295,"weight_usd":39540981.705630966,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":1.599004722888799,"weight_usd":61321978.54724874,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.000672553842934393,"debt":null},"share_of_market":{"collateral":0.0006187919551715374,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.8318301685695104,"lend":-1.5637727049551797,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0006187919551715374,"debt":null}}},"euler_v2":{"id":"euler_v2","level":"family","name":"Euler v2","class_id":"algorithmic","children":["euler_v2_monad","euler_v2_base","euler_v2_ethereum","euler_v2_unichain","euler_v2_arbitrum","euler_v2_linea","euler_v2_avalanche","euler_v2_hyperliquid_l1"],"single_deployment":false,"metrics":{"collateral":{"eth":31173.451546379358,"usd":77587687.34822431,"kind":"partial","coverage":{"in":6,"of":8},"uncounted_usd":364208.732347115,"parts":[{"token":"WETH","family":"eth_native","native":28456.95565860341,"usd":70839560.77325186,"eth":28456.95565860341,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WSTETH","family":"eth_lst","native":1133.5875847925759,"usd":3507732.5344927213,"eth":1412.636640305002,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"WEETH","family":"eth_lrt","native":710.5134643421804,"usd":1952868.7276220191,"eth":785.5636590275719,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"TETH","family":"eth_lrt","native":354.43833004289297,"usd":1106002.9448628314,"eth":445.0663027440601,"rate":1.2556946160145819,"rate_source":"to be read (Treehouse tETH)","rate_date":"2026-10-12","rate_series":"price.teth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"CBETH","family":"eth_lst","native":48.7535944115977,"usd":138397.85426714807,"eth":55.65217778202592,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"RETH","family":"eth_lst","native":10.822655857260367,"usd":31163.953909561726,"eth":12.702106844758118,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"PUFETH","family":"eth_lrt","native":4.492527094405456,"usd":11960.559818173884,"eth":4.875001072535663,"rate":1.0851355974249999,"rate_source":"pufETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.pufeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":"read for 6 of 8 deployments; part of it is the supplied amount each pool reports, or leaves out tokens with no contract rate read","synthetic_excluded_usd":77650.06731379384,"synthetic_excluded":[{"token":"ALETH","native":32.21760500125933,"usd":77650.06731379384}]},"debt":{"usd":null,"absent_kind":"not_read","excluded":[],"coverage":{"in":0,"of":8},"absent_because":"no deployment here has dollar debt against ether read"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its dollar debt and its ether collateral","coverage":{"in":0,"of":8}},"borrow":{"value":9.942548986580679,"weight_usd":138470922.66211244,"low":7.085976755886571,"high":15.436671834999213,"kind":"partial","coverage":{"in":6,"of":8},"limitation":"weighted by dollar debt for 6 of 8 deployments"},"lend":{"value":7.77676348957639,"weight_usd":159358711.07932776,"low":5.860708096199007,"high":13.891711506566212,"kind":"partial","coverage":{"in":6,"of":8},"limitation":"weighted by dollar supply for 6 of 8 deployments"},"liquidation":{"eth_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold against ether is read for any deployment here","coverage":{"in":0,"of":8}},"books":{},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its ether collateral","coverage":{"in":0,"of":8}},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.003621706471711015,"debt":null},"share_of_market":{"collateral":0.003332198384161318,"debt":null},"vs_parent":{"ltv":null,"borrow":5.1011847977528735,"lend":4.613986061732412,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.003332198384161318,"debt":null}}},"exactly":{"id":"exactly","level":"family","name":"Exactly","class_id":"algorithmic","children":["exactly_optimism"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"extra_finance_xlend":{"id":"extra_finance_xlend","level":"family","name":"Extra Finance xLend","class_id":"algorithmic","children":["extra_finance_xlend_base","extra_finance_xlend_optimism"],"single_deployment":false,"metrics":{"collateral":{"eth":0,"usd":282119,"kind":"partial","coverage":{"in":2,"of":2},"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":0,"usd":282119,"eth":0,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":"part of it is the supplied amount each pool reports, or leaves out tokens with no contract rate read","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"absent_kind":"not_read","excluded":[],"coverage":{"in":0,"of":2},"absent_because":"no deployment here has dollar debt against ether read"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its dollar debt and its ether collateral","coverage":{"in":0,"of":2}},"borrow":{"value":3.454669885489425,"weight_usd":382721.56666666665,"low":3.454669885489425,"high":3.454669885489425,"kind":"partial","coverage":{"in":1,"of":2},"limitation":"weighted by dollar debt for 1 of 2 deployments"},"lend":{"value":1.7296309610118057,"weight_usd":682207.3666666667,"low":1.7296309610118057,"high":1.7296309610118057,"kind":"partial","coverage":{"in":1,"of":2},"limitation":"weighted by dollar supply for 1 of 2 deployments"},"liquidation":{"eth_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold against ether is read for any deployment here","coverage":{"in":0,"of":2}},"books":{},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its ether collateral","coverage":{"in":0,"of":2}},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0,"debt":null},"share_of_market":{"collateral":0,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.3866943033383805,"lend":-1.433146466832173,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0,"debt":null}}},"fira":{"id":"fira","level":"family","name":"Fira","class_id":"algorithmic","children":["fira_ethereum"],"single_deployment":true,"metrics":{"collateral":{"eth":0,"usd":49,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WSTETH","family":"eth_lst","native":0,"usd":49,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":0}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0,"debt":null},"share_of_market":{"collateral":0,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0,"debt":null}}},"fluid_lending":{"id":"fluid_lending","level":"family","name":"Fluid Lending","class_id":"algorithmic","children":["fluid_lending_ethereum","fluid_lending_arbitrum","fluid_lending_base","fluid_lending_polygon","fluid_lending_plasma"],"single_deployment":false,"metrics":{"collateral":{"eth":149612.91062585346,"usd":369506022.09961253,"kind":"partial","coverage":{"in":4,"of":5},"uncounted_usd":1834971.3249150112,"parts":[{"token":"WSTETH","family":"eth_lst","native":70224.91161643647,"usd":215057551.26569852,"eth":87511.79400902717,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"ETH","family":"eth_native","native":57838.58811413272,"usd":143931394.76320624,"eth":57838.58811413272,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WEETH","family":"eth_lrt","native":3160.708383186174,"usd":8621392.503920088,"eth":3494.5680373751215,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"WEETHS","family":"eth_lrt","native":437.4362110593806,"usd":1142411.3288710192,"eth":465.6350988739433,"rate":1.0644639997824388,"rate_source":"to be read (ether.fi liquid vault)","rate_date":"2026-10-12","rate_series":"price.weeths_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WETH","family":"eth_native","native":265.30353862498004,"usd":661080.3825857191,"eth":265.30353862498004,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"CBETH","family":"eth_lst","native":32.43264234796152,"usd":92191.85533101115,"eth":37.02182781953506,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"}],"low":null,"high":null,"limitation":"read for 4 of 5 deployments; $1.8m of ether whose custody does not count is stated beside it, never added","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":86819069.09352843,"low":null,"high":null,"kind":"partial","coverage":{"in":4,"of":5},"excluded":[],"limitation":"dollar debt against ether read for 4 of 5 deployments"},"ltv":{"value":0.5128893074251646,"debt_usd":86819069.09352843,"collateral_usd":169274476.64951792,"kind":"partial","coverage":{"in":4,"of":5},"limitation":"both sides read for 4 of 5 deployments; isolated and CDP sides at the day's ETH fixing; pooled sides at each pool's oracle"},"borrow":{"value":6.562016132497466,"weight_usd":86819069.09352843,"low":4.1483690009452205,"high":6.865181846421782,"kind":"partial","coverage":{"in":4,"of":5},"limitation":"weighted by dollar debt for 4 of 5 deployments"},"lend":{"value":null,"absent_kind":"not_read","absent_because":"no lend rate against ether is read for any deployment here","coverage":{"in":0,"of":5}},"liquidation":{"eth_price":1464.1437568239055,"unit":"USD_per_ETH","debt_usd":86819069.09352843,"headroom_pct":0.4032300750657752,"eth_price_ref":2453.447628054114,"kind":"derived","coverage":{"in":4,"of":5},"threshold_low":0.7,"threshold_high":0.87,"limitation":"the priced books of 4 of 5 deployments taken as one position, in USD per ETH — an aggregate, not a forecast"},"books":{"btc":{"debt":11.36279492,"collateral_eth":599.3802368630423,"ltv":null,"borrow_rate":0.4457170319940968,"asset":"mixed","kind":"partial","coverage":{"in":3,"of":5},"limitation":"BTC lent against ether, read in its own units for 3 of 5 deployments; a separate book, never added to another currency","ltv_debt":11.36279492,"ltv_collateral_eth":599.3802368630423,"venue_priced":null},"eth":{"debt":71154.11629723042,"collateral_eth":79881.4164698429,"ltv":0.8907468024692923,"borrow_rate":2.279340386710749,"asset":"mixed","kind":"partial","coverage":{"in":3,"of":5},"limitation":"ether lent against ether, in ETH, read for 3 of 5 deployments — leverage on staking yield: outside the headline; a separate book, never added to another currency","ltv_debt":71154.11629723042,"ltv_collateral_eth":79881.4164698429,"venue_priced":null},"eur":{"debt":115510.40130600001,"collateral_eth":137.57956922400552,"ltv":null,"borrow_rate":4.489999999999999,"asset":"EURC","kind":"partial","coverage":{"in":1,"of":5},"limitation":"EUR lent against ether, read in its own units for 1 of 5 deployments; a separate book, never added to another currency","ltv_debt":115510.40130600001,"ltv_collateral_eth":137.57956922400552,"venue_priced":null}},"ltv_all":{"value":0.7149908223247805,"debt_usd":262449851.2756553,"collateral_usd":367067440.7012723,"kind":"partial","coverage":{"in":4,"of":5},"limitation":"every loan currency's debt over the ether securing it, for 4 of 5 deployments; pooled sides at each pool's oracle, isolated and CDP sides at the day's ETH fixing; ether lent against ether is in it (the dollar LTV is the headline)"},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null}},"share_of_parent":{"collateral":0.01738190735340979,"debt":0.021807939483815007},"share_of_market":{"collateral":0.015992451085996076,"debt":0.019433797248684166},"vs_parent":{"ltv":0.2851043231771792,"borrow":1.7206519436696608,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.015992451085996076,"debt":0.019433797248684166}}},"folks_finance_xchain":{"id":"folks_finance_xchain","level":"family","name":"Folks Finance xChain","class_id":"algorithmic","children":["folks_finance_xchain_arbitrum","folks_finance_xchain_avalanche","folks_finance_xchain_base","folks_finance_xchain_ethereum","folks_finance_xchain_monad","folks_finance_xchain_polygon"],"single_deployment":false,"metrics":{"collateral":{"eth":null,"usd":null,"uncounted_usd":null,"synthetic_excluded_usd":null,"synthetic_excluded":null,"absent_kind":"not_read","absent_because":"no deployment here has an ether collateral read","coverage":{"in":0,"of":6}},"debt":{"usd":null,"absent_kind":"not_read","excluded":[],"coverage":{"in":0,"of":6},"absent_because":"no deployment here has dollar debt against ether read"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its dollar debt and its ether collateral","coverage":{"in":0,"of":6}},"borrow":{"value":null,"absent_kind":"not_read","absent_because":"no borrow rate against ether is read for any deployment here","coverage":{"in":0,"of":6}},"lend":{"value":null,"absent_kind":"not_read","absent_because":"no lend rate against ether is read for any deployment here","coverage":{"in":0,"of":6}},"liquidation":{"eth_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold against ether is read for any deployment here","coverage":{"in":0,"of":6}},"books":{},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its ether collateral","coverage":{"in":0,"of":6}},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"frankencoin":{"id":"frankencoin","level":"family","name":"Frankencoin","class_id":"minted","children":["frankencoin_ethereum"],"single_deployment":true,"metrics":{"collateral":{"eth":6398.394761736803,"usd":15698126.451537028,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"LSETH","family":"eth_lst","native":2860.951668759467,"usd":7856677.712186207,"rate":1.1193131999134154,"rate_source":"lsETH.underlyingBalanceFromShares()","rate_date":"2026-10-12","rate_series":"price.lseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":3202.3009671567843},{"token":"WETH","family":"eth_native","native":514.6181712699339,"usd":1262588.731655765,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":514.6181712699339},{"token":"WSTETH","family":"eth_lst","native":2151.782977151115,"usd":6578860.007695056,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":2681.475623310085}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar loan against ether is read at this venue","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether markets","observer":null},"books":{"chf":{"debt":6475596.637921931,"collateral_eth":6398.394761736803,"ltv":null,"borrow_rate":1.16612593488346,"asset":"ZCHF","kind":"exact","limitation":"CHF lent against ether in 3 market(s), in the loan asset's own units (ZCHF); a separate book, never added to another currency; its LTV converts both sides at the day's rates in /v1/market/tree","ltv_debt":6475596.637921931,"ltv_collateral_eth":6398.394761736803,"venue_priced":null}},"ltv_all":{"value":0.4974166295511504,"debt_usd":7808509.149791308,"collateral_usd":15698126.451537026,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 3 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null}},"share_of_parent":{"collateral":0.00855597563316891,"debt":null},"share_of_market":{"collateral":0.0006839384036305699,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.0006839384036305699,"debt":null}}},"fraxlend":{"id":"fraxlend","level":"family","name":"Fraxlend","class_id":"algorithmic","children":["fraxlend_ethereum","fraxlend_fraxtal"],"single_deployment":false,"metrics":{"collateral":{"eth":6362.617641065947,"usd":15714734.061858997,"kind":"partial","coverage":{"in":2,"of":2},"uncounted_usd":null,"parts":[{"token":"SFRXETH","family":"eth_lst","native":5392.667573711024,"usd":15604153.825716827,"eth":6318.092837724941,"rate":1.1716080680599186,"rate_source":"sfrxETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.sfrxeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WSTETH","family":"eth_lst","native":28.561871704863563,"usd":88305.07600814961,"eth":35.59279144131044,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"EZETH","family":"eth_lrt","native":8.213360164500012,"usd":22275.16013401856,"eth":8.932011899695663,"rate":1.0874978962084028,"rate_source":"Renzo RestakeManager calculateTVLs() / ezETH supply","rate_date":"2026-10-12","rate_series":"price.ezeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":"part of it is the supplied amount each pool reports, or leaves out tokens with no contract rate read","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"absent_kind":"not_read","excluded":[],"coverage":{"in":0,"of":2},"absent_because":"no deployment here has dollar debt against ether read"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its dollar debt and its ether collateral","coverage":{"in":0,"of":2}},"borrow":{"value":null,"absent_kind":"not_read","absent_because":"no borrow rate against ether is read for any deployment here","coverage":{"in":0,"of":2}},"lend":{"value":null,"absent_kind":"not_read","absent_because":"no lend rate against ether is read for any deployment here","coverage":{"in":0,"of":2}},"liquidation":{"eth_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold against ether is read for any deployment here","coverage":{"in":0,"of":2}},"books":{},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its ether collateral","coverage":{"in":0,"of":2}},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.0007392037886272368,"debt":null},"share_of_market":{"collateral":0.0006801141089895994,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0006801141089895994,"debt":null}}},"gearbox":{"id":"gearbox","level":"family","name":"Gearbox","class_id":"algorithmic","children":["gearbox_ethereum"],"single_deployment":true,"metrics":{"collateral":{"eth":6187.1657307026235,"usd":15276187.428095391,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":1831.7354154707737,"usd":4548217.353968086,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":1831.7354154707737},{"token":"WSTETH","family":"eth_lst","native":3495.0684350860643,"usd":10727970.074127305,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":4355.43031523185}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":0,"weight_usd":492241.17265753343,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.0007188199271131686,"debt":null},"share_of_market":{"collateral":0.0006613596707349562,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":-3.1627774278439786,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0006613596707349562,"debt":null}}},"hyperlend_pooled":{"id":"hyperlend_pooled","level":"family","name":"HyperLend Pooled","class_id":"algorithmic","children":["hyperlend_pooled_hyperliquid_l1"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":7111873.594795605,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($7m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether-only accounts here owe $227,514 in dollars against ether whose custody on this chain does not count as ether collateral — stated, never in the ether book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether here is on a chain whose custody does not count as ether collateral","observer":null},"borrow":{"value":6.086074980279449,"weight_usd":66519387.28167634,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":4.491361226921131,"weight_usd":78697179.97670294,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":1.2447107914516433,"lend":1.3285837990771525,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"hypurrfi_pooled":{"id":"hypurrfi_pooled","level":"family","name":"HypurrFi Pooled","class_id":"algorithmic","children":["hypurrfi_pooled_hyperliquid_l1"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":165464.65590362603,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($165,465) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":1.2430899741914903,"weight_usd":333246.7217971576,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":-1.9196874536524884,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"inverse_finance_firm":{"id":"inverse_finance_firm","level":"family","name":"Inverse Finance FiRM","class_id":"algorithmic","children":["inverse_finance_firm_ethereum"],"single_deployment":true,"metrics":{"collateral":{"eth":670.3819017087015,"usd":1662307.7625380023,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"ST-YETH","family":"eth_lst","native":324.5576318079113,"usd":21243.139669381406,"rate":null,"rate_source":"st-yETH ERC-4626 convertToAssets()","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":null},{"token":"STETH","family":"eth_lst","native":5.0550485222512,"usd":12533.520538969617,"rate":1,"rate_source":"1:1 rebasing (Lido)","rate_date":"2026-10-12","rate_series":"price.steth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.steth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":5.0550485222512},{"token":"WETH","family":"eth_native","native":43.9771,"usd":109195.579071,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":43.9771},{"token":"WSTETH","family":"eth_lst","native":498.60972448938765,"usd":1540578.6629280327,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":621.3497531864504}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan; ST-YETH ($21,243) not in it: no contract rate is read for that token yet","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.00007788442894506282,"debt":null},"share_of_market":{"collateral":0.00007165858699737653,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00007165858699737653,"debt":null}}},"justlend_v1":{"id":"justlend_v1","level":"family","name":"JustLend v1","class_id":"algorithmic","children":["justlend_v1_tron"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":1204618179.3447552,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($1.20bn) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":3.7669337511086938,"weight_usd":138341341.06499472,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":0.7440690323899224,"weight_usd":635855766.4006991,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.0744304377191116,"lend":-2.4187083954540562,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"kamino_lend":{"id":"kamino_lend","level":"family","name":"Kamino Lend","class_id":"algorithmic","children":["kamino_lend_solana"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":3184213.537270753,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($3m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":5.672267348172345,"weight_usd":711062744.4071445,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.454891214091536,"weight_usd":1019676201.8164171,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":0.8309031593445395,"lend":0.29211378624755735,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"kinetic":{"id":"kinetic","level":"family","name":"Kinetic","class_id":"algorithmic","children":["kinetic_flare"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":1930372.4820529188,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($2m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar loan against ether is read at this venue","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether markets","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"kinza_finance":{"id":"kinza_finance","level":"family","name":"Kinza Finance","class_id":"algorithmic","children":["kinza_finance_bsc"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":310934,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($310,934) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":3.378726210016727,"weight_usd":824607.3333333334,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":1.9411479512048144,"weight_usd":1215936.9,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.4626379788110784,"lend":-1.2216294766391642,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"layerbank":{"id":"layerbank","level":"family","name":"LayerBank","class_id":"algorithmic","children":["layerbank_move"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"liquity_v1":{"id":"liquity_v1","level":"family","name":"Liquity v1","class_id":"minted","children":["liquity_v1_ethereum"],"single_deployment":true,"metrics":{"collateral":{"eth":72001.21954003103,"usd":178779748.13009247,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"ETH","family":"eth_native","native":72001.21954003103,"usd":178779748.13009247,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":72001.21954003103}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":26002108.26548869,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.14719461362624475,"debt_usd":26002108.26548869,"collateral_usd":176651221.29749265,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"the CDP's liquidation ratio is not carried on its direct-read rows","observer":null},"books":{},"ltv_all":{"value":0.14719461362624475,"debt_usd":26002108.26548869,"collateral_usd":176651221.29749265,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 1 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":26002108.26548869,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":26002108.26548869,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":26002108.26548869,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.0962805051709142,"debt":0.05346369913504591},"share_of_market":{"collateral":0.007696367758699518,"debt":0.005820376852065429},"vs_parent":{"ltv":-0.12016947533360856,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.007696367758699518,"debt":0.005820376852065429}}},"liquity_v2":{"id":"liquity_v2","level":"family","name":"Liquity v2","class_id":"minted","children":["liquity_v2_ethereum"],"single_deployment":true,"metrics":{"collateral":{"eth":39293.048833130364,"usd":97432719.2024899,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"RETH","family":"eth_lst","native":5650.730439119966,"usd":16414179.068069402,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z","eth":6632.030320032563},{"token":"WETH","family":"eth_native","native":10710.949834982868,"usd":26595395.549760815,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":10710.949834982868},{"token":"WSTETH","family":"eth_lst","native":17614.101623106097,"usd":54423144.58465968,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":21950.068678114938}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":38214217.230096675,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.3963989069008512,"debt_usd":38214217.230096675,"collateral_usd":96403437.45865817,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":3.38412325534216,"weight_usd":38214217.230096675,"low":2.4919199531176757,"high":8.060833712514214,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg","observer":null},"liquidation":{"eth_price":1138.831322109132,"debt_usd":38214217.230096675,"headroom_pct":0.5358240750333988,"eth_price_ref":2453.447628054114,"threshold_low":0.8333333333333334,"threshold_high":0.9090909090909091,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{},"ltv_all":{"value":0.3963989069008512,"debt_usd":38214217.230096675,"collateral_usd":96403437.45865817,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 3 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":38214217.230096675,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":38214217.230096675,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":38214217.230096675,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.052542923793892755,"debt":0.07857337535136895},"share_of_market":{"collateral":0.004200119888416266,"debt":0.008553965821343153},"vs_parent":{"ltv":0.12903481794099791,"borrow":-5.540604530207501,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.004200119888416266,"debt":0.008553965821343153}}},"lista_cdp":{"id":"lista_cdp","level":"family","name":"Lista CDP","class_id":"algorithmic","children":["lista_cdp_bsc"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":796428.1923586164,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($796,428) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar loan against ether is read at this venue","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether markets","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"moonwell_lending":{"id":"moonwell_lending","level":"family","name":"Moonwell Lending","class_id":"algorithmic","children":["moonwell_lending_base","moonwell_lending_optimism","moonwell_lending_moonbeam"],"single_deployment":false,"metrics":{"collateral":{"eth":3297.7822912672236,"usd":8201908.149745965,"kind":"partial","coverage":{"in":2,"of":3},"uncounted_usd":179650.67054809048,"parts":[{"token":"ETH","family":"eth_native","native":1830.1148096314562,"usd":4551937.374605172,"eth":1830.1148096314562,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WSTETH","family":"eth_lst","native":683.1831485869989,"usd":2117128.6880198717,"eth":851.3586075570188,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"RETH","family":"eth_lst","native":501.17598461651266,"usd":1462926.5146140317,"eth":588.2096768655151,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"WRSETH","family":"eth_lrt","native":18.74685012569692,"usd":50445.49946229291,"eth":20.283987269403028,"rate":1.0819944221775744,"rate_source":"Kelp rsETH rate, bridged wrapper","rate_date":"2026-10-12","rate_series":"price.wrseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WEETH","family":"eth_lrt","native":7.068570227174323,"usd":19470.07304459673,"eth":7.815209943830431,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"}],"low":null,"high":null,"limitation":"read for 2 of 3 deployments; part of it is the supplied amount each pool reports, or leaves out tokens with no contract rate read","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"absent_kind":"not_read","excluded":[],"coverage":{"in":0,"of":3},"absent_because":"no deployment here has dollar debt against ether read"},"ltv":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its dollar debt and its ether collateral","coverage":{"in":0,"of":3}},"borrow":{"value":16.197515082585255,"weight_usd":8286114.485042933,"low":16.197515082585255,"high":16.197515082585255,"kind":"partial","coverage":{"in":1,"of":3},"limitation":"weighted by dollar debt for 1 of 3 deployments"},"lend":{"value":14.694085270433408,"weight_usd":8286114.490826833,"low":14.694085270433408,"high":14.694085270433408,"kind":"partial","coverage":{"in":1,"of":3},"limitation":"weighted by dollar supply for 1 of 3 deployments"},"liquidation":{"eth_price":null,"absent_kind":"not_read","absent_because":"no liquidation price or threshold against ether is read for any deployment here","coverage":{"in":0,"of":3}},"books":{},"ltv_all":{"value":null,"absent_kind":"not_read","absent_because":"no child here carries both its debt and its ether collateral","coverage":{"in":0,"of":3}},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.000383133688254154,"debt":null},"share_of_market":{"collateral":0.0003525071584045609,"debt":null},"vs_parent":{"ltv":null,"borrow":11.35615089375745,"lend":11.53130784258943,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0003525071584045609,"debt":null}}},"morpho_blue":{"id":"morpho_blue","level":"family","name":"Morpho Blue","class_id":"algorithmic","children":["morpho_blue_ethereum","morpho_blue_base","morpho_blue_arbitrum","morpho_blue_monad","morpho_blue_unichain","morpho_blue_optimism","morpho_blue_hyperliquid_l1","morpho_blue_katana","morpho_blue_robinhood_chain"],"single_deployment":false,"metrics":{"collateral":{"eth":495903.11365821026,"usd":1230836096.8369029,"kind":"partial","coverage":{"in":6,"of":9},"uncounted_usd":42439422.04009291,"parts":[{"token":"WSTETH","family":"eth_lst","native":212924.86560736506,"usd":657921354.6592324,"eth":265339.4151666014,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"WEETH","family":"eth_lrt","native":97599.89277643595,"usd":267991664.92485392,"eth":107909.18503020979,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"WETH","family":"eth_native","native":88618.1109074858,"usd":220454594.35146323,"eth":88618.1109074858,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"CBETH","family":"eth_lst","native":17790.580649576143,"usd":50416723.889659196,"eth":20307.929478942304,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z"},{"token":"OETH","family":"eth_lst","native":8849.174795043491,"usd":21976032.273056835,"eth":8849.174795043491,"rate":1,"rate_source":"1:1 rebasing (Origin)","rate_date":"2026-10-12","rate_series":"price.oeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"RETH","family":"eth_lst","native":3376.5728913317707,"usd":9809685.105062071,"eth":3962.9449739952283,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z"},{"token":"SUPEROETHB","family":"eth_lst","native":375.3660015914613,"usd":933658.8922341424,"eth":375.3660015914613,"rate":1,"rate_source":"1:1 rebasing (Origin, Base)","rate_date":"2026-10-12","rate_series":"price.superoethb_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"LSETH","family":"eth_lst","native":255.42374420943247,"usd":706534.1312318145,"eth":285.89916846492554,"rate":1.1193131999134154,"rate_source":"lsETH.underlyingBalanceFromShares()","rate_date":"2026-10-12","rate_series":"price.lseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"YOETH","family":"eth_lst","native":106.07806853609985,"usd":284440.11557455076,"eth":115.93408044855407,"rate":1.0929128145758054,"rate_source":"yoETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.yoeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"WSUPEROETHB","family":"eth_lst","native":100.48475591333431,"usd":273721.7049939448,"eth":111.56614955381778,"rate":1.1102793507309796,"rate_source":"wsuperOETHb ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.wsuperoethb_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null},{"token":"EZETH","family":"eth_lrt","native":25.368238384279586,"usd":67686.78954077915,"eth":27.5879058734173,"rate":1.0874978962084028,"rate_source":"Renzo RestakeManager calculateTVLs() / ezETH supply","rate_date":"2026-10-12","rate_series":"price.ezeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null}],"low":null,"high":null,"limitation":"read for 6 of 9 deployments; $42.4m of ether whose custody does not count is stated beside it, never added; $4.4m of synthetic ether (SAVETH) is not ether collateral: stated beside it, never added","synthetic_excluded_usd":4374551.262258863,"synthetic_excluded":[{"token":"SAVETH","native":1681.3748757076876,"usd":4374551.262258863}]},"debt":{"usd":466393757.03943014,"low":null,"high":null,"kind":"partial","coverage":{"in":6,"of":9},"excluded":[],"limitation":"dollar debt against ether read for 6 of 9 deployments"},"ltv":{"value":0.44451417122326553,"debt_usd":466393757.03943014,"collateral_usd":1049221345.9830849,"kind":"partial","coverage":{"in":6,"of":9},"limitation":"both sides read for 6 of 9 deployments; isolated and CDP sides at the day's ETH fixing; pooled sides at each pool's oracle"},"borrow":{"value":4.2696288323075615,"weight_usd":466393757.03943014,"low":2.784564786425208,"high":14.730398147649598,"kind":"partial","coverage":{"in":6,"of":9},"limitation":"weighted by dollar debt for 6 of 9 deployments"},"lend":{"value":3.7012583731263127,"weight_usd":538661379.6978564,"low":3.0358176568704027,"high":4.611437664202908,"kind":"partial","coverage":{"in":4,"of":9},"limitation":"weighted by dollar supply for 4 of 9 deployments"},"liquidation":{"eth_price":1272.691893915873,"unit":"USD_per_ETH","debt_usd":466393757.03943014,"headroom_pct":0.4812638837841123,"eth_price_ref":2453.447628054114,"kind":"derived","coverage":{"in":6,"of":9},"threshold_low":0.77,"threshold_high":0.86,"limitation":"the priced books of 6 of 9 deployments taken as one position, in USD per ETH — an aggregate, not a forecast"},"books":{"chf":{"debt":169239.3292258893,"collateral_eth":159.31712045586892,"ltv":null,"borrow_rate":2.0649558260592,"asset":"VCHF","kind":"partial","coverage":{"in":1,"of":9},"limitation":"CHF lent against ether, read in its own units for 1 of 9 deployments; a separate book, never added to another currency","ltv_debt":169239.3292258893,"ltv_collateral_eth":159.31712045586892,"venue_priced":null},"eth":{"debt":50666.31978546206,"collateral_eth":56877.4892792514,"ltv":0.8907974038148139,"borrow_rate":1.8221373912015502,"asset":"WETH","kind":"partial","coverage":{"in":4,"of":9},"limitation":"ether lent against ether, in ETH, read for 4 of 9 deployments — leverage on staking yield: outside the headline; a separate book, never added to another currency","ltv_debt":50666.31978546206,"ltv_collateral_eth":56877.4892792514,"venue_priced":null},"eur":{"debt":11489227.226093555,"collateral_eth":11214.48621056518,"ltv":null,"borrow_rate":2.272814093205421,"asset":"mixed","kind":"partial","coverage":{"in":2,"of":9},"limitation":"EUR lent against ether, read in its own units for 2 of 9 deployments; a separate book, never added to another currency","ltv_debt":11489227.226093555,"ltv_collateral_eth":11214.48621056518,"venue_priced":null}},"ltv_all":{"value":0.4962314750746123,"debt_usd":603751099.0184711,"collateral_usd":1216672317.9493852,"kind":"partial","coverage":{"in":6,"of":9},"limitation":"every loan currency's debt over the ether securing it, for 6 of 9 deployments; pooled sides at each pool's oracle, isolated and CDP sides at the day's ETH fixing; ether lent against ether is in it (the dollar LTV is the headline)"},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null}},"share_of_parent":{"collateral":0.057613623996864774,"debt":0.11715268241574792},"share_of_market":{"collateral":0.05300816791409735,"debt":0.1043987433520175},"vs_parent":{"ltv":0.21672918697528015,"borrow":-0.5717353565202439,"lend":0.538480945282334,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.05300816791409735,"debt":0.1043987433520175}}},"navi_lending":{"id":"navi_lending","level":"family","name":"NAVI Lending","class_id":"algorithmic","children":["navi_lending_sui"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":1899354.5081950983,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($2m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":6.995471796681981,"weight_usd":32811876.326048035,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.9945589478317247,"weight_usd":62253436.667931825,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":2.1541076078541757,"lend":-0.16821848001225392,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"neverland":{"id":"neverland","level":"family","name":"Neverland","class_id":"algorithmic","children":["neverland_monad"],"single_deployment":true,"metrics":{"collateral":{"eth":213.68378252412754,"usd":532086.1446685113,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":213.68378252412754,"usd":532086.1446685113,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":213.68378252412754}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":6.854302976978248,"weight_usd":5840363.270279217,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.547191633132062,"weight_usd":7805005.792864706,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.00002482560960296379,"debt":null},"share_of_market":{"collateral":0.000022841126648713232,"debt":null},"vs_parent":{"ltv":null,"borrow":2.012938788150443,"lend":0.38441420528808345,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000022841126648713232,"debt":null}}},"save":{"id":"save","level":"family","name":"Save","class_id":"algorithmic","children":["save_solana"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":344535.060768214,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($344,535) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":5.004995207405373,"weight_usd":20510650.416574936,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.963742403714154,"weight_usd":28458939.46338342,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":0.16363101857756757,"lend":-0.19903502412982466,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"scallop_lend":{"id":"scallop_lend","level":"family","name":"Scallop Lend","class_id":"algorithmic","children":["scallop_lend_sui"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":7.569497782597737,"weight_usd":858331.424622657,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.3416310494759447,"weight_usd":1589221.727166423,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":2.7281335937699316,"lend":0.17885362163196605,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"sky":{"id":"sky","level":"family","name":"Sky","class_id":"minted","children":["sky_ethereum"],"single_deployment":true,"metrics":{"collateral":{"eth":602224.6165692362,"usd":1478985455.1554203,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":565934.4870076545,"usd":1389710306.3850842,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":565934.4870076545},{"token":"WSTETH","family":"eth_lst","native":29121.459225806873,"usd":89275148.77033621,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":36290.12956158159}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":388198574.2127018,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.26273542925720555,"debt_usd":388198574.2127018,"collateral_usd":1477526557.0775907,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":9.939279561501587,"weight_usd":388198574.2127018,"low":9.758032833886402,"high":10.885440491208207,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg","observer":null},"liquidation":{"eth_price":1011.3949949397398,"debt_usd":388198574.2127018,"headroom_pct":0.5877658102928814,"eth_price_ref":2453.447628054114,"threshold_low":0.5714285714285714,"threshold_high":0.7692307692307692,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{},"ltv_all":{"value":0.26273542925720555,"debt_usd":388198574.2127018,"collateral_usd":1477526557.0775907,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 5 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":388198574.2127018,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":388198574.2127018,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":388198574.2127018,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.8052987252168587,"debt":0.79818649951197},"share_of_market":{"collateral":0.06437310578998912,"debt":0.08689533834267142},"vs_parent":{"ltv":-0.004628659702647753,"borrow":1.0145517759519258,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.06437310578998912,"debt":0.08689533834267142}}},"spark":{"id":"spark","level":"family","name":"SparkLend","class_id":"algorithmic","children":["spark_ethereum"],"single_deployment":true,"metrics":{"collateral":{"eth":2087072.0122448532,"usd":5179705654.684731,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WEETH","family":"eth_lrt","native":38075.76220487526,"usd":104479218.7188741,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":42097.63302039348},{"token":"WETH","family":"eth_native","native":642260.9106935853,"usd":1593965961.5575736,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":642260.9106935853},{"token":"WSTETH","family":"eth_lst","native":1125624.6139875099,"usd":3481260474.4082828,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":1402713.4685308745}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":1053176492.3727697,"low":null,"high":null,"kind":"partial","limitation":"ether-only borrowers only: $195m more is owed in dollars by 159 accounts posting bitcoin and ether, and $26,524 by 15 posting ether among other collateral — bounds, never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"ltv":{"value":0.2245204684631491,"debt_usd":1053176492.3727697,"collateral_usd":4690781644.906594,"kind":"partial","limitation":"the ether-only borrowers' dollar LTV, not the pool's: accounts posting ether among other collateral are not in it; the same ether also secures their other debt (ether lent against ether, books.eth), so ltv_all is the whole load on it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"borrow":{"value":4.102359717793989,"weight_usd":1490701555.31482,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.6151025417448444,"weight_usd":2110809684.013298,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{"eth":{"debt":505557.330140104,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"ether borrowed by the accounts whose only collateral is ether, in ETH at the pool's oracle — leverage on staking yield; its LTV is not served because the same collateral also secures those accounts' dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"btc":{"debt":198.30166832999996,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"bitcoin borrowed by the accounts whose only collateral is ether, in wrapper units; its LTV is not served because the same collateral also secures their dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"other":{"debt":null,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":{"debt_usd":4375.898010717705,"limitation":"debt of ether-only accounts in neither dollars, ether nor bitcoin, at the pool's own oracle; the pool read does not split it by currency"}}},"ltv_all":{"value":0.5006707471680021,"debt_usd":2348537150.9573345,"collateral_usd":4690781644.906594,"kind":"partial","limitation":"all the debt (every currency, at the pool's own oracle) of the accounts whose only collateral is ether, over that ether","absent_kind":null,"absent_because":null},"debt_all":{"usd":2309747384.711795,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1053176492.3727697,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1053176492.3727697,"share":0.4559704231483231},{"currency":"eth","basis":"native","native":505557.330140104,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":1240358432.4776087,"share":0.5370104283643893},{"currency":"btc","basis":"native","native":198.30166832999996,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":16208083.963405812,"share":0.007017253951963331},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":4375.898010717705,"share":0.0000018945353243743232}],"limitation":"all debt secured by ether here in 4 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.2424743439919802,"debt":0.2645456747146111},"share_of_market":{"collateral":0.22309168994276304,"debt":0.23574565626595065},"vs_parent":{"ltv":-0.003264515784836275,"borrow":-0.7390044710338168,"lend":-0.5476748860991343,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.22309168994276304,"debt":0.23574565626595065}}},"tectonic":{"id":"tectonic","level":"family","name":"Tectonic","class_id":"algorithmic","children":["tectonic_cronos"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":4520510.708627332,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($5m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":3.0702376618515546,"weight_usd":6424455.443609091,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.2006173789685555,"weight_usd":8048313.202838765,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.7711265269762508,"lend":-0.9621600488754232,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"tender_finance":{"id":"tender_finance","level":"family","name":"Tender Finance","class_id":"algorithmic","children":["tender_finance_arbitrum"],"single_deployment":true,"metrics":{"collateral":{"eth":0,"usd":375086,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"ETH","family":"eth_native","native":0,"usd":375086,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":0}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0,"debt":null},"share_of_market":{"collateral":0,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0,"debt":null}}},"tydro":{"id":"tydro","level":"family","name":"Tydro","class_id":"algorithmic","children":["tydro_ink"],"single_deployment":true,"metrics":{"collateral":{"eth":5234.055925752671,"usd":13021294.16216793,"low":null,"high":null,"uncounted_usd":11473.469433419647,"parts":[{"token":"WETH","family":"eth_native","native":5234.055925752671,"usd":13021294.16216793,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":5234.055925752671}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":1815213.1438734103,"low":null,"high":null,"kind":"partial","limitation":"ether-only borrowers only: $433,000 more is owed in dollars by 106 accounts posting bitcoin and ether, and $89,614 by 168 posting ether among other collateral — bounds, never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"ltv":{"value":0.32820182965125155,"debt_usd":1815213.1438734103,"collateral_usd":5530783.133665837,"kind":"partial","limitation":"the ether-only borrowers' dollar LTV, not the pool's: accounts posting ether among other collateral are not in it; the same ether also secures their other debt (ether lent against ether, books.eth), so ltv_all is the whole load on it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"borrow":{"value":5.921405437793012,"weight_usd":54900625.63923343,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.969414993536372,"weight_usd":78973825.00211969,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{"eth":{"debt":20.09227760484394,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"ether borrowed by the accounts whose only collateral is ether, in ETH at the pool's oracle — leverage on staking yield; its LTV is not served because the same collateral also secures those accounts' dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"btc":{"debt":0.34318230999999966,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"bitcoin borrowed by the accounts whose only collateral is ether, in wrapper units; its LTV is not served because the same collateral also secures their dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null}},"ltv_all":{"value":0.34257599920886284,"debt_usd":1894713.5584230998,"collateral_usd":5530783.133665837,"kind":"partial","limitation":"all the debt (every currency, at the pool's own oracle) of the accounts whose only collateral is ether, over that ether","absent_kind":null,"absent_because":null},"debt_all":{"usd":1892558.3227378265,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1815213.1438734103,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1815213.1438734103,"share":0.9591319443447711},{"currency":"eth","basis":"native","native":20.09227760484394,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":49295.350831809155,"share":0.026046938812695163},{"currency":"btc","basis":"native","native":0.34318230999999966,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":28049.82803260694,"share":0.014821116842533705}],"limitation":"all debt secured by ether here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.0006080883982767544,"debt":0.00045596041060025247},"share_of_market":{"collateral":0.0005594796800878695,"debt":0.0004063218434556097},"vs_parent":{"ltv":0.10041684540326618,"borrow":1.0800412489652063,"lend":0.8066375656923932,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0005594796800878695,"debt":0.0004063218434556097}}},"uwu_lend":{"id":"uwu_lend","level":"family","name":"UwU Lend","class_id":"algorithmic","children":["uwu_lend_ethereum"],"single_deployment":true,"metrics":{"collateral":{"eth":8.158447945038457,"usd":20257.507832009942,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":8.158447945038457,"usd":20257.507832009942,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":8.158447945038457}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":9.478419057223391e-7,"debt":null},"share_of_market":{"collateral":8.72074336050826e-7,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":8.72074336050826e-7,"debt":null}}},"venus_core_pool":{"id":"venus_core_pool","level":"family","name":"Venus Core Pool","class_id":"algorithmic","children":["venus_core_pool_bsc"],"single_deployment":true,"metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":73397010.50595467,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($73m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":4.756686513649951,"weight_usd":187435670.27373552,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.0655686303492744,"weight_usd":263291188.26340657,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.08467767517785418,"lend":-0.09720879749470424,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}}},"venues":{"aave_v2_avalanche":{"id":"aave_v2_avalanche","level":"venue","name":"Aave v2 (Avalanche)","deployment":"Avalanche","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"aave_v2","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":1365392.0791557713,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($1m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":22.109227211305505,"weight_usd":369297.65751975414,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":1.272444589135615,"weight_usd":1519289.9253789322,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":9.783866035050687,"lend":0.9191001941152742,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v2","name":"Aave v2"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"aave_v2_ethereum":{"id":"aave_v2_ethereum","level":"venue","name":"Aave v2 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"aave_v2","metrics":{"collateral":{"eth":9408.650826013029,"usd":23083632.052271042,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"STETH","family":"eth_lst","native":3417.889865635166,"usd":8385613.783792793,"rate":1,"rate_source":"1:1 rebasing (Lido)","rate_date":"2026-10-12","rate_series":"price.steth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.steth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":3417.889865635166},{"token":"WETH","family":"eth_native","native":5990.760960377862,"usd":14698018.26847825,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":5990.760960377862}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":10.689153955335906,"weight_usd":9179388.662254317,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":0.3689662996926743,"weight_usd":39466128.320084356,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.7377648680228556,"debt":null},"share_of_market":{"collateral":0.0010057112550701812,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.6362072209189122,"lend":0.015621904672333431,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v2","name":"Aave v2"}},"secured_view":{"share_of_market":{"collateral":0.0010057112550701812,"debt":null}}},"aave_v2_polygon":{"id":"aave_v2_polygon","level":"venue","name":"Aave v2 (Polygon)","deployment":"Polygon","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"aave_v2","metrics":{"collateral":{"eth":3344.2616991216773,"usd":8204970.9333023,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":3344.2616991216773,"usd":8204970.9333023,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":3344.2616991216773}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":17.20325049372555,"weight_usd":2338352.1974796904,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":0.0007041978807753393,"weight_usd":5708129.067710727,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.2622351319771444,"debt":null},"share_of_market":{"collateral":0.00035747544391888576,"debt":null},"vs_parent":{"ltv":null,"borrow":4.877889317470734,"lend":-0.3526401971395655,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v2","name":"Aave v2"}},"secured_view":{"share_of_market":{"collateral":0.00035747544391888576,"debt":null}}},"aave_v3_arbitrum":{"id":"aave_v3_arbitrum","level":"venue","name":"Aave v3 (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":162401.92917334175,"usd":404339963.3688329,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WEETH","family":"eth_lrt","native":36468.09695901783,"usd":100386226.6457241,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":40320.15313238532},{"token":"WETH","family":"eth_native","native":98411.64284245193,"usd":245020899.50753745,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":98411.64284245193},{"token":"WSTETH","family":"eth_lst","native":18994.388478000947,"usd":58932837.215571366,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":23670.133198504514}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":64713566.25012083,"low":null,"high":null,"kind":"partial","limitation":"ether-only borrowers only: $50m more is owed in dollars by 3,477 accounts posting bitcoin and ether, and $8m by 2,118 posting ether among other collateral — bounds, never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"ltv":{"value":0.20108314373747643,"debt_usd":64713566.25012083,"collateral_usd":321824918.02797484,"kind":"partial","limitation":"the ether-only borrowers' dollar LTV, not the pool's: accounts posting ether among other collateral are not in it; the same ether also secures their other debt (ether lent against ether, books.eth), so ltv_all is the whole load on it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"borrow":{"value":4.518924717068877,"weight_usd":40447550.374161005,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.5490494574903377,"weight_usd":46380695.53138857,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":0.74,"threshold_high":0.84,"kind":"parameter","limitation":"the loan-to-value at which the pool liquidates an ether position, not a price: the pool read does not yet weight each position's ether by its own threshold (C4)","absent_kind":null,"absent_because":null,"observer":"credit_venue_rates_daily — the pool's ether reserves (rETH,weETH,WETH,wstETH)"},"books":{"eth":{"debt":53324.582473622475,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"ether borrowed by the accounts whose only collateral is ether, in ETH at the pool's oracle — leverage on staking yield; its LTV is not served because the same collateral also secures those accounts' dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"btc":{"debt":13.754067140000004,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"bitcoin borrowed by the accounts whose only collateral is ether, in wrapper units; its LTV is not served because the same collateral also secures their dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"other":{"debt":null,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":{"debt_usd":12445.722639203537,"limitation":"debt of ether-only accounts in neither dollars, ether nor bitcoin, at the pool's own oracle; the pool read does not split it by currency"}}},"ltv_all":{"value":0.6222084121862648,"debt_usd":200242171.24816105,"collateral_usd":321824918.02797484,"kind":"partial","limitation":"all the debt (every currency, at the pool's own oracle) of the accounts whose only collateral is ether, over that ether","absent_kind":null,"absent_because":null},"debt_all":{"usd":196679263.90043,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":64713566.25012083,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":64713566.25012083,"share":0.32903095611992145},{"currency":"eth","basis":"native","native":53324.582473622475,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":130829070.38688503,"share":0.6651899533909076},{"currency":"btc","basis":"native","native":13.754067140000004,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":1124181.540784927,"share":0.005715811206991554},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":12445.722639203537,"share":0.00006327928217945872}],"limitation":"all debt secured by ether here in 4 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.03037655294108745,"debt":0.028161463625625684},"share_of_market":{"collateral":0.017359497236645993,"debt":0.014485646285717704},"vs_parent":{"ltv":-0.0025700199781996946,"borrow":-0.25638018829431264,"lend":0.2094284858559199,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.017359497236645993,"debt":0.014485646285717704}}},"aave_v3_avalanche":{"id":"aave_v3_avalanche","level":"venue","name":"Aave v3 (Avalanche)","deployment":"Avalanche","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":24298623.451178543,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($24m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether-only accounts here owe $3m in dollars against ether whose custody on this chain does not count as ether collateral — stated, never in the ether book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether here is on a chain whose custody does not count as ether collateral","observer":null},"borrow":{"value":6.312198220023684,"weight_usd":83372714.51257874,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":5.277912727772777,"weight_usd":91472797.71409874,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":0.83,"threshold_high":0.83,"kind":"parameter","limitation":"the loan-to-value at which the pool liquidates an ether position, not a price: the pool read does not yet weight each position's ether by its own threshold (C4)","absent_kind":null,"absent_because":null,"observer":"credit_venue_rates_daily — the pool's ether reserves (WETH.e)"},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":1.5368933146604942,"lend":1.938291756138359,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"aave_v3_base":{"id":"aave_v3_base","level":"venue","name":"Aave v3 (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":159637.0918483321,"usd":397228523.2255814,"low":null,"high":null,"uncounted_usd":42089066.333061755,"parts":[{"token":"CBETH","family":"eth_lst","native":52013.9200887256,"usd":147736556.01482642,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":59373.83618281992},{"token":"WETH","family":"eth_native","native":90041.25999265313,"usd":224055871.08253226,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":90041.25999265313},{"token":"WSTETH","family":"eth_lst","native":8202.76570488401,"usd":25436096.12822273,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":10221.99567285904}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan; $42m of ether in tokens or on chains that do not count (custody) is stated beside it, never added","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":49322526.29605742,"low":null,"high":null,"kind":"partial","limitation":"ether-only borrowers only: $41m more is owed in dollars by 2,847 accounts posting bitcoin and ether, and $3m by 1,497 posting ether among other collateral — bounds, never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"ltv":{"value":0.1370624931816373,"debt_usd":49322526.29605742,"collateral_usd":359854290.9232977,"kind":"partial","limitation":"the ether-only borrowers' dollar LTV, not the pool's: accounts posting ether among other collateral are not in it; the same ether also secures their other debt (ether lent against ether, books.eth), so ltv_all is the whole load on it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"borrow":{"value":4.840380044240671,"weight_usd":163073685.9726943,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.912732336934661,"weight_usd":182174478.49970433,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":0.77,"threshold_high":0.83,"kind":"parameter","limitation":"the loan-to-value at which the pool liquidates an ether position, not a price: the pool read does not yet weight each position's ether by its own threshold (C4)","absent_kind":null,"absent_because":null,"observer":"credit_venue_rates_daily — the pool's ether reserves (cbETH,weETH,WETH,wstETH)"},"books":{"eth":{"debt":69183.47507301263,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"ether borrowed by the accounts whose only collateral is ether, in ETH at the pool's oracle — leverage on staking yield; its LTV is not served because the same collateral also secures those accounts' dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"btc":{"debt":14.086918523266235,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"bitcoin borrowed by the accounts whose only collateral is ether, in wrapper units; its LTV is not served because the same collateral also secures their dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"other":{"debt":null,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":{"debt_usd":1320396.8748527367,"limitation":"debt of ether-only accounts in neither dollars, ether nor bitcoin, at the pool's own oracle; the pool read does not split it by currency"}}},"ltv_all":{"value":0.6290012907052694,"debt_usd":226348813.4565838,"collateral_usd":359854290.9232977,"kind":"partial","limitation":"all the debt (every currency, at the pool's own oracle) of the accounts whose only collateral is ether, over that ether","absent_kind":null,"absent_because":null},"debt_all":{"usd":221532342.9652155,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":49322526.29605742,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":49322526.29605742,"share":0.2226425524863515},{"currency":"eth","basis":"native","native":69183.47507301263,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":169738032.81842375,"share":0.7661997816954232},{"currency":"btc","basis":"native","native":14.086918523266235,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":1151386.9758816054,"share":0.005197376421294806},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1320396.8748527367,"share":0.005960289396930462}],"limitation":"all debt secured by ether here in 4 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.02985940251187668,"debt":0.02146373026085228},"share_of_market":{"collateral":0.01706395773075717,"debt":0.01104047746466706},"vs_parent":{"ltv":-0.06659067053403883,"borrow":0.06507513887748129,"lend":0.5731113653002433,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.01706395773075717,"debt":0.01104047746466706}}},"aave_v3_bsc":{"id":"aave_v3_bsc","level":"venue","name":"Aave v3 (BSC)","deployment":"BSC","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":19499673.77975339,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($19m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether-only accounts here owe $864,292 in dollars against ether whose custody on this chain does not count as ether collateral — stated, never in the ether book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether here is on a chain whose custody does not count as ether collateral","observer":null},"borrow":{"value":4.0196490187833325,"weight_usd":62890266.19866676,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.9619634048302435,"weight_usd":76810812.09131366,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":0.75,"threshold_high":0.83,"kind":"parameter","limitation":"the loan-to-value at which the pool liquidates an ether position, not a price: the pool read does not yet weight each position's ether by its own threshold (C4)","absent_kind":null,"absent_because":null,"observer":"credit_venue_rates_daily — the pool's ether reserves (ETH,wstETH)"},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.7556558865798575,"lend":-0.3776575668041744,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"aave_v3_celo":{"id":"aave_v3_celo","level":"venue","name":"Aave v3 (Celo)","deployment":"Celo","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":1791872.8746902503,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($2m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"aave_v3_ethereum":{"id":"aave_v3_ethereum","level":"venue","name":"Aave v3 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":4970944.187828409,"usd":12348939420.869911,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"CBETH","family":"eth_lst","native":5551.059184842711,"usd":15741300.900715971,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":6336.528339332562},{"token":"OSETH","family":"eth_lst","native":118993.13838512335,"usd":319516306.866309,"rate":1.0808816238949404,"rate_source":"StakeWise OsTokenVaultController convertToAssets()","rate_date":"2026-10-12","rate_series":"price.oseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.oseth_vs_eth","peg_value":0.9960166731118315,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z","eth":128617.4966500675},{"token":"RETH","family":"eth_lst","native":34712.776924921796,"usd":101209320.53970708,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z","eth":40740.961109173266},{"token":"TETH","family":"eth_lrt","native":15675.765519793138,"usd":48899231.06309712,"rate":1.2556946160145819,"rate_source":"to be read (Treehouse tETH)","rate_date":"2026-10-12","rate_series":"price.teth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":19683.974365111266},{"token":"WEETH","family":"eth_lrt","native":1378938.5635902693,"usd":3787458777.9234796,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":1524593.2384843733},{"token":"WETH","family":"eth_native","native":2208036.1702879155,"usd":5485237324.75336,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":2208036.1702879155},{"token":"WSTETH","family":"eth_lst","native":836916.629485559,"usd":2590877158.823243,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":1042935.818592435}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":2177589507.975952,"low":null,"high":null,"kind":"partial","limitation":"ether-only borrowers only: $771m more is owed in dollars by 3,177 accounts posting bitcoin and ether, and $111m by 1,839 posting ether among other collateral — bounds, never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"ltv":{"value":0.20624462549139808,"debt_usd":2177589507.975952,"collateral_usd":10558284865.788048,"kind":"partial","limitation":"the ether-only borrowers' dollar LTV, not the pool's: accounts posting ether among other collateral are not in it; the same ether also secures their other debt (ether lent against ether, books.eth), so ltv_all is the whole load on it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"borrow":{"value":4.747450098014669,"weight_usd":3879963894.882062,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.315381529963535,"weight_usd":4807941844.052729,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":0.75,"threshold_high":0.83,"kind":"parameter","limitation":"the loan-to-value at which the pool liquidates an ether position, not a price: the pool read does not yet weight each position's ether by its own threshold (C4)","absent_kind":null,"absent_because":null,"observer":"credit_venue_rates_daily — the pool's ether reserves (cbETH,osETH,rETH,rsETH,weETH,WETH,wstETH)"},"books":{"eth":{"debt":1716965.3169393586,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"ether borrowed by the accounts whose only collateral is ether, in ETH at the pool's oracle — leverage on staking yield; its LTV is not served because the same collateral also secures those accounts' dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"btc":{"debt":121.04326134999998,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"bitcoin borrowed by the accounts whose only collateral is ether, in wrapper units; its LTV is not served because the same collateral also secures their dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"other":{"debt":null,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":{"debt_usd":8311723.193470312,"limitation":"debt of ether-only accounts in neither dollars, ether nor bitcoin, at the pool's own oracle; the pool read does not split it by currency"}}},"ltv_all":{"value":0.6167184710557803,"debt_usd":6511489299.400188,"collateral_usd":10558284865.788048,"kind":"partial","limitation":"all the debt (every currency, at the pool's own oracle) of the accounts whose only collateral is ether, over that ether","absent_kind":null,"absent_because":null},"debt_all":{"usd":6408279123.623291,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":2177589507.975952,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":2177589507.975952,"share":0.33980877954403554},{"currency":"eth","basis":"native","native":1716965.3169393586,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":4212484484.296049,"share":0.6573503436776451},{"currency":"btc","basis":"native","native":121.04326134999998,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":9893408.157819677,"share":0.0015438478828659178},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":8311723.193470312,"share":0.0012970288954534176}],"limitation":"all debt secured by ether here in 4 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.9297928297858377,"debt":0.9476236788340251},"share_of_market":{"collateral":0.5313550912318454,"debt":0.48743707379858386},"vs_parent":{"ltv":0.0025914617757219482,"borrow":-0.02785480734852097,"lend":-0.024239441670882655,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.5313550912318454,"debt":0.48743707379858386}}},"aave_v3_gnosis":{"id":"aave_v3_gnosis","level":"venue","name":"Aave v3 (Gnosis)","deployment":"Gnosis","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":14166.100938673835,"usd":35311981.470731735,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WSTETH","family":"eth_lst","native":11367.761313009638,"usd":35311981.470731735,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":14166.100938673835}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.002649705685904197,"debt":null},"share_of_market":{"collateral":0.0015142454978873722,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.0015142454978873722,"debt":null}}},"aave_v3_linea":{"id":"aave_v3_linea","level":"venue","name":"Aave v3 (Linea)","deployment":"Linea","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":2975.6730946307616,"usd":7405006.3525596,"low":null,"high":null,"uncounted_usd":3680243.024316256,"parts":[{"token":"WETH","family":"eth_native","native":2674.5005331387733,"usd":6655533.99449426,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":2674.5005331387733},{"token":"WSTETH","family":"eth_lst","native":241.6796130346609,"usd":749472.3580653399,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":301.1725614919881}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan; $4m of ether in tokens or on chains that do not count (custody) is stated beside it, never added","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":749113.4397447143,"low":null,"high":null,"kind":"partial","limitation":"ether-only borrowers only: $466,957 more is owed in dollars by 48 accounts posting bitcoin and ether, and $125,312 by 60 posting ether among other collateral — bounds, never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"ltv":{"value":0.08841501612585971,"debt_usd":749113.4397447143,"collateral_usd":8472694.713738935,"kind":"partial","limitation":"the ether-only borrowers' dollar LTV, not the pool's: accounts posting ether among other collateral are not in it; the same ether also secures their other debt (ether lent against ether, books.eth), so ltv_all is the whole load on it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"borrow":{"value":4.198383852375199,"weight_usd":1551607.2078123218,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.175048133797622,"weight_usd":1847875.6518465762,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{"eth":{"debt":1911.5918509583337,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"ether borrowed by the accounts whose only collateral is ether, in ETH at the pool's oracle — leverage on staking yield; its LTV is not served because the same collateral also secures those accounts' dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"btc":{"debt":0.091181,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"bitcoin borrowed by the accounts whose only collateral is ether, in wrapper units; its LTV is not served because the same collateral also secures their dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null}},"ltv_all":{"value":0.6612428087454821,"debt_usd":5602508.450155732,"collateral_usd":8472694.713738935,"kind":"partial","limitation":"all the debt (every currency, at the pool's own oracle) of the accounts whose only collateral is ether, over that ether","absent_kind":null,"absent_because":null},"debt_all":{"usd":5446556.564007738,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":749113.4397447143,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":749113.4397447143,"share":0.13753890755400408},{"currency":"eth","basis":"native","native":1911.5918509583337,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":4689990.492541297,"share":0.8610927725480673},{"currency":"btc","basis":"native","native":0.091181,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":7452.6317217257965,"share":0.0013683198979286702}],"limitation":"all debt secured by ether here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.0005565863149195796,"debt":0.00032599240170601355},"share_of_market":{"collateral":0.0003180762022122819,"debt":0.00016768342319565754},"vs_parent":{"ltv":-0.11523814758981642,"borrow":-0.5769210529879913,"lend":-0.16457283783679566,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.0003180762022122819,"debt":0.00016768342319565754}}},"aave_v3_mantle":{"id":"aave_v3_mantle","level":"venue","name":"Aave v3 (Mantle)","deployment":"Mantle","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":122.98529430674958,"usd":306397.2667793467,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":122.98529430674958,"usd":306397.2667793467,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":122.98529430674958}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":24952.257227168033,"low":null,"high":null,"kind":"partial","limitation":"ether-only borrowers only: $0 more is owed in dollars by 0 accounts posting bitcoin and ether, and $554 by 1 posting ether among other collateral — bounds, never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"ltv":{"value":0.28821806230859215,"debt_usd":24952.257227168033,"collateral_usd":86574.23142499621,"kind":"partial","limitation":"the ether-only borrowers' dollar LTV, not the pool's: accounts posting ether among other collateral are not in it; the same ether also secures their other debt (ether lent against ether, books.eth), so ltv_all is the whole load on it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"borrow":{"value":4.141574770288557,"weight_usd":143498243.69642943,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.7961761297583108,"weight_usd":191618336.69906074,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{"eth":{"debt":6.731811749070111,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"ether borrowed by the accounts whose only collateral is ether, in ETH at the pool's oracle — leverage on staking yield; its LTV is not served because the same collateral also secures those accounts' dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null}},"ltv_all":{"value":0.48423544425513604,"debt_usd":41922.311415129996,"collateral_usd":86574.23142499621,"kind":"partial","limitation":"all the debt (every currency, at the pool's own oracle) of the accounts whose only collateral is ether, over that ether","absent_kind":null,"absent_because":null},"debt_all":{"usd":41468.40479543091,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":24952.257227168033,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":24952.257227168033,"share":0.6017173158760457},{"currency":"eth","basis":"native","native":6.731811749070111,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":16516.14756826288,"share":0.3982826841239543}],"limitation":"all debt secured by ether here in 2 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.000023003848060799032,"debt":0.000010858497298143202},"share_of_market":{"collateral":0.000013146166966941223,"debt":0.000005585375573739524},"vs_parent":{"ltv":0.08456489859291602,"borrow":-0.6337301350746332,"lend":-0.5434448418761071,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.000013146166966941223,"debt":0.000005585375573739524}}},"aave_v3_megaeth":{"id":"aave_v3_megaeth","level":"venue","name":"Aave v3 (MegaETH)","deployment":"MegaETH","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":180.43562132534478,"usd":449739.00286224356,"low":null,"high":null,"uncounted_usd":354625.8983586085,"parts":[{"token":"WETH","family":"eth_native","native":180.43562132534478,"usd":449739.00286224356,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":180.43562132534478}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":50047.59214359663,"low":null,"high":null,"kind":"partial","limitation":"ether-only borrowers only: $0 more is owed in dollars by 0 accounts posting bitcoin and ether, and $0 by 0 posting ether among other collateral — bounds, never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"ltv":{"value":0.1015036367599076,"debt_usd":50047.59214359663,"collateral_usd":493062.0590666823,"kind":"partial","limitation":"the ether-only borrowers' dollar LTV, not the pool's: accounts posting ether among other collateral are not in it; the same ether also secures their other debt (ether lent against ether, books.eth), so ltv_all is the whole load on it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"borrow":{"value":5.8207423045691655,"weight_usd":5927480.062804895,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":4.844590722662551,"weight_usd":6484144.533752304,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{"eth":{"debt":102.83426750993192,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"ether borrowed by the accounts whose only collateral is ether, in ETH at the pool's oracle — leverage on staking yield; its LTV is not served because the same collateral also secures those accounts' dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null}},"ltv_all":{"value":0.6272943951659656,"debt_usd":309295.06612152007,"collateral_usd":493062.0590666823,"kind":"partial","limitation":"all the debt (every currency, at the pool's own oracle) of the accounts whose only collateral is ether, over that ether","absent_kind":null,"absent_because":null},"debt_all":{"usd":302346.0818485213,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":50047.59214359663,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":50047.59214359663,"share":0.16553081104147074},{"currency":"eth","basis":"native","native":102.83426750993192,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":252298.4897049247,"share":0.8344691889585293}],"limitation":"all debt secured by ether here in 2 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.000033749674228297594,"debt":0.000021779257849190387},"share_of_market":{"collateral":0.000019287158014277993,"debt":0.000011202778014766748},"vs_parent":{"ltv":-0.10214952695576852,"borrow":1.0454373992059756,"lend":1.5049697510281335,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.000019287158014277993,"debt":0.000011202778014766748}}},"aave_v3_monad":{"id":"aave_v3_monad","level":"venue","name":"Aave v3 (Monad)","deployment":"Monad","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":2472.0682986411057,"usd":6154346.659441591,"low":null,"high":null,"uncounted_usd":4991911.219059949,"parts":[{"token":"WETH","family":"eth_native","native":2472.0682986411057,"usd":6154346.659441591,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":2472.0682986411057}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan; $5m of ether in tokens or on chains that do not count (custody) is stated beside it, never added","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":5.210882350363275,"weight_usd":248795518.64417854,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.2276586463896026,"weight_usd":354132161.7320022,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.00046238929506498753,"debt":null},"share_of_market":{"collateral":0.00026424478463710725,"debt":null},"vs_parent":{"ltv":null,"borrow":0.4355774450000851,"lend":-0.1119623252448152,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.00026424478463710725,"debt":null}}},"aave_v3_optimism":{"id":"aave_v3_optimism","level":"venue","name":"Aave v3 (Optimism)","deployment":"Optimism","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":19424.164265893633,"usd":48398801.61801307,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":8643.758595512843,"usd":21537480.41726744,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":8643.758595512843},{"token":"WSTETH","family":"eth_lst","native":8650.86865107266,"usd":26861321.20074563,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":10780.40567038079}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":5497832.893477652,"low":null,"high":null,"kind":"partial","limitation":"ether-only borrowers only: $5m more is owed in dollars by 240 accounts posting bitcoin and ether, and $809,939 by 1,283 posting ether among other collateral — bounds, never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"ltv":{"value":0.15882100282732933,"debt_usd":5497832.893477652,"collateral_usd":34616535.569007285,"kind":"partial","limitation":"the ether-only borrowers' dollar LTV, not the pool's: accounts posting ether among other collateral are not in it; the same ether also secures their other debt (ether lent against ether, books.eth), so ltv_all is the whole load on it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"borrow":{"value":4.0008546928129,"weight_usd":3395268.659361015,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.9444251208334395,"weight_usd":4153593.6039442485,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":0.74,"threshold_high":0.83,"kind":"parameter","limitation":"the loan-to-value at which the pool liquidates an ether position, not a price: the pool read does not yet weight each position's ether by its own threshold (C4)","absent_kind":null,"absent_because":null,"observer":"credit_venue_rates_daily — the pool's ether reserves (rETH,WETH,wstETH)"},"books":{"eth":{"debt":5979.076765075842,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"ether borrowed by the accounts whose only collateral is ether, in ETH at the pool's oracle — leverage on staking yield; its LTV is not served because the same collateral also secures those accounts' dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"btc":{"debt":4.11348149,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"bitcoin borrowed by the accounts whose only collateral is ether, in wrapper units; its LTV is not served because the same collateral also secures their dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"other":{"debt":null,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":{"debt_usd":8481.970770178537,"limitation":"debt of ether-only accounts in neither dollars, ether nor bitcoin, at the pool's own oracle; the pool read does not split it by currency"}}},"ltv_all":{"value":0.6055859216061646,"debt_usd":20963286.595369857,"collateral_usd":34616535.569007285,"kind":"partial","limitation":"all the debt (every currency, at the pool's own oracle) of the accounts whose only collateral is ether, over that ether","absent_kind":null,"absent_because":null},"debt_all":{"usd":20511879.84660089,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":5497832.893477652,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":5497832.893477652,"share":0.2680316448123462},{"currency":"eth","basis":"native","native":5979.076765075842,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":14669351.70722879,"share":0.7151636913307928},{"currency":"btc","basis":"native","native":4.11348149,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":336213.27512426814,"share":0.016391148819057823},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":8481.970770178537,"share":0.00041351503780303787}],"limitation":"all debt secured by ether here in 4 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.003633202863800412,"debt":0.002392497122643897},"share_of_market":{"collateral":0.00207629138160071,"debt":0.001230648645217454},"vs_parent":{"ltv":-0.044832160888346795,"borrow":-0.7744502125502901,"lend":-0.3951958508009783,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.00207629138160071,"debt":0.001230648645217454}}},"aave_v3_polygon":{"id":"aave_v3_polygon","level":"venue","name":"Aave v3 (Polygon)","deployment":"Polygon","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":13967.600556989764,"usd":34804310.44333565,"low":null,"high":null,"uncounted_usd":12077582.911028804,"parts":[{"token":"WETH","family":"eth_native","native":13967.600556989764,"usd":34804310.44333565,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":13967.600556989764}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan; $12m of ether in tokens or on chains that do not count (custody) is stated beside it, never added","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether-only accounts here owe $5m in dollars against ether whose custody on this chain does not count as ether collateral — stated, never in the ether book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether here is on a chain whose custody does not count as ether collateral","observer":null},"borrow":{"value":6.634344623198883,"weight_usd":23003118.34771436,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.295894265002589,"weight_usd":34754816.033292085,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":0.79,"threshold_high":0.83,"kind":"parameter","limitation":"the loan-to-value at which the pool liquidates an ether position, not a price: the pool read does not yet weight each position's ether by its own threshold (C4)","absent_kind":null,"absent_because":null,"observer":"credit_venue_rates_daily — the pool's ether reserves (WETH,wstETH)"},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.0026125770792198746,"debt":null},"share_of_market":{"collateral":0.0014930273581469273,"debt":null},"vs_parent":{"ltv":null,"borrow":1.8590397178356932,"lend":-0.04372670663182898,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":0.0014930273581469273,"debt":null}}},"aave_v3_sonic":{"id":"aave_v3_sonic","level":"venue","name":"Aave v3 (Sonic)","deployment":"Sonic","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":1464731.3351129873,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($1m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"aave_v3_xlayer":{"id":"aave_v3_xlayer","level":"venue","name":"Aave v3 (X Layer)","deployment":"X Layer","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"aave_v3","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":3940130.5596817997,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($4m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":14593891.929242462,"synthetic_excluded":[{"token":"XETH","native":5855.6625617315685,"usd":14593891.929242462}]},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether-only accounts here owe $2,390 in dollars against ether whose custody on this chain does not count as ether collateral — stated, never in the ether book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether here is on a chain whose custody does not count as ether collateral","observer":null},"borrow":{"value":4.2246662015051815,"weight_usd":64732948.08348911,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.231404761784566,"weight_usd":77440709.32924277,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.5506387038580085,"lend":-0.10821620984985181,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v3","name":"Aave v3"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"aave_v4_avalanche":{"id":"aave_v4_avalanche","level":"venue","name":"Aave v4 (Avalanche)","deployment":"Avalanche","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"aave_v4","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":1757637.3314988022,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($2m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether-only accounts here owe $704,058 in dollars against ether whose custody on this chain does not count as ether collateral — stated, never in the ether book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether here is on a chain whose custody does not count as ether collateral","observer":null},"borrow":{"value":1.3763056019254796,"weight_usd":5588712.562819758,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":0.3679080793877349,"weight_usd":19014050.237652164,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-3.0019217982805726,"lend":-2.413995224674244,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v4","name":"Aave v4"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"aave_v4_ethereum":{"id":"aave_v4_ethereum","level":"venue","name":"Aave v4 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"aave_v4","metrics":{"collateral":{"eth":128524.16804996262,"usd":319283218.88587445,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"RSETH","family":"eth_lrt","native":1212.1128022798302,"usd":3258046.656945477,"rate":1.0819944221775744,"rate_source":"Kelp LRTOracle rsETHPrice()","rate_date":"2026-10-12","rate_series":"price.rseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":1311.4992911168054},{"token":"WEETH","family":"eth_lrt","native":50918.764525239734,"usd":139855920.16515768,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":56297.21740832042},{"token":"WETH","family":"eth_native","native":46363.96360950831,"usd":115178069.60617858,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":46363.96360950831},{"token":"WSTETH","family":"eth_lst","native":19701.642232212704,"usd":60991182.45759274,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":24551.487741017092}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":70552908.12622876,"low":null,"high":null,"kind":"partial","limitation":"ether-only borrowers only: $19m more is owed in dollars by 201 accounts posting bitcoin and ether, and $2m by 96 posting ether among other collateral — bounds, never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"ltv":{"value":0.2610562544772855,"debt_usd":70552908.12622876,"collateral_usd":270259405.4584031,"kind":"partial","limitation":"the ether-only borrowers' dollar LTV, not the pool's: accounts posting ether among other collateral are not in it; the same ether also secures their other debt (ether lent against ether, books.eth), so ltv_all is the whole load on it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"borrow":{"value":4.465974994890205,"weight_usd":191194734.47724006,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.9687952357369602,"weight_usd":245595548.52925172,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{"eth":{"debt":39967.028899212026,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"ether borrowed by the accounts whose only collateral is ether, in ETH at the pool's oracle — leverage on staking yield; its LTV is not served because the same collateral also secures those accounts' dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"btc":{"debt":0.12958852000000004,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"bitcoin borrowed by the accounts whose only collateral is ether, in wrapper units; its LTV is not served because the same collateral also secures their dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"other":{"debt":null,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":{"debt_usd":150465.03993279437,"limitation":"debt of ether-only accounts in neither dollars, ether nor bitcoin, at the pool's own oracle; the pool read does not split it by currency"}}},"ltv_all":{"value":0.6359984466562151,"debt_usd":171884562.0657766,"collateral_usd":270259405.4584031,"kind":"partial","limitation":"all the debt (every currency, at the pool's own oracle) of the accounts whose only collateral is ether, over that ether","absent_kind":null,"absent_because":null},"debt_all":{"usd":168770977.26974303,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":70552908.12622876,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":70552908.12622876,"share":0.41803934105012364},{"currency":"eth","basis":"native","native":39967.028899212026,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":98057012.25314197,"share":0.5810063663755384},{"currency":"btc","basis":"native","native":0.12958852000000004,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":10591.850439493954,"share":0.00006275871960239483},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":150465.03993279437,"share":0.0008915338547356358}],"limitation":"all debt secured by ether here in 4 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":1,"debt":1},"share_of_market":{"collateral":0.013738229289900507,"debt":0.01579273915449498},"vs_parent":{"ltv":0,"borrow":0.08774759468415283,"lend":0.1868919316749813,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"aave_v4","name":"Aave v4"}},"secured_view":{"share_of_market":{"collateral":0.013738229289900507,"debt":0.01579273915449498}}},"arcadia_v2_base":{"id":"arcadia_v2_base","level":"venue","name":"Arcadia v2 (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"arcadia_v2","metrics":{"collateral":{"eth":138.00885204178113,"usd":338597.49069237907,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":138.00885204178113,"usd":338597.49069237907,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":138.00885204178113}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":12.364215193345476,"weight_usd":1856883.8728783333,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":9.800726495036306,"weight_usd":2258831.9375106003,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":1,"debt":null},"share_of_market":{"collateral":0.00001475206789627995,"debt":null},"vs_parent":{"ltv":null,"borrow":1.7763568394002505e-15,"lend":0,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"arcadia_v2","name":"Arcadia v2"}},"secured_view":{"share_of_market":{"collateral":0.00001475206789627995,"debt":null}}},"arcadia_v2_optimism":{"id":"arcadia_v2_optimism","level":"venue","name":"Arcadia v2 (Optimism)","deployment":"Optimism","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"arcadia_v2","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"arcadia_v2","name":"Arcadia v2"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"benqi_lending_avalanche":{"id":"benqi_lending_avalanche","level":"venue","name":"BENQI Lending (Avalanche)","deployment":"Avalanche","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"benqi_lending","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":3425507.1030427907,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($3m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":8.205257158504162,"weight_usd":17412093.221182246,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":5.900260689835655,"weight_usd":20365528.40030799,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":3.363892969676357,"lend":2.737483261991676,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"cefi_arch":{"id":"cefi_arch","level":"venue","name":"Arch","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"arch","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether collateral total","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no book against ether","observer":null},"ltv":{"value":0.55,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's ether card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"borrow":{"value":10.49,"weight_usd":null,"low":7.25,"high":10.49,"kind":"posted","limitation":"a price the desk posts for a loan against ether, not one a market cleared; APR as the desk files it","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states no liquidation threshold for ether","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":0,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"cefi_figure":{"id":"cefi_figure","level":"venue","name":"Figure","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"figure","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether collateral total","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no book against ether","observer":null},"ltv":{"value":0.75,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's ether card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"borrow":{"value":9.999,"weight_usd":null,"low":9.999,"high":12.62,"kind":"posted","limitation":"a price the desk posts for a loan against ether, not one a market cleared; APR as the desk files it","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states no liquidation threshold for ether","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.49099999999999966,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"cefi_galaxy":{"id":"cefi_galaxy","level":"venue","name":"Galaxy Digital","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"galaxy","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether collateral total","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no book against ether","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no realised LTV","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether borrow rate","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states no liquidation threshold for ether","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"cefi_milo":{"id":"cefi_milo","level":"venue","name":"Milo","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"milo","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether collateral total","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no book against ether","observer":null},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's ether card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"borrow":{"value":10.75,"weight_usd":null,"low":10.75,"high":10.75,"kind":"posted","limitation":"a price the desk posts for a loan against ether, not one a market cleared; APR as the desk files it","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states no liquidation threshold for ether","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":0.2599999999999998,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"cefi_nexo":{"id":"cefi_nexo","level":"venue","name":"Nexo","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"nexo","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether collateral total","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no book against ether","observer":null},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's ether card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"borrow":{"value":17.9,"weight_usd":null,"low":1.9,"high":17.9,"kind":"posted","limitation":"a price the desk posts for a loan against ether, not one a market cleared; APR as the desk files it","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states no liquidation threshold for ether","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":7.409999999999998,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"cefi_salt":{"id":"cefi_salt","level":"venue","name":"SALT","deployment":null,"venue_type":"cefi_desk","status":"registered","class_id":"posted-card","family_id":"salt","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no ether collateral total","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no book against ether","observer":null},"ltv":{"value":0.5,"debt_usd":null,"collateral_usd":null,"kind":"ceiling","limitation":"the highest LTV the desk's ether card allows — a policy limit, not the LTV of its book","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"borrow":{"value":8.75,"weight_usd":null,"low":7.49,"high":8.75,"kind":"posted","limitation":"a price the desk posts for a loan against ether, not one a market cleared; APR as the desk files it","absent_kind":null,"absent_because":null,"observer":"cefi_credit_rates — the desk's published card (collateral_class eth)"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk publishes no lend card","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_published","absent_because":"the desk states no liquidation threshold for ether","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.7400000000000002,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"posted-card","name":"Posted card"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"compound_v3_arbitrum":{"id":"compound_v3_arbitrum","level":"venue","name":"Compound v3 (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"compound_v3","metrics":{"collateral":{"eth":11959.669323509639,"usd":29724374.65883687,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"EZETH","family":"eth_lrt","native":185.4784131850101,"usd":496591.95068915177,"rate":1.0874978962084028,"rate_source":"Renzo RestakeManager calculateTVLs() / ezETH supply","rate_date":"2026-10-12","rate_series":"price.ezeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":201.70738413077137},{"token":"RETH","family":"eth_lst","native":7.052907114160832,"usd":20308.921800992666,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z","eth":8.277707515769},{"token":"RSETH","family":"eth_lrt","native":38.05056489309252,"usd":101009.66285280883,"rate":1.0819944221775744,"rate_source":"Kelp LRTOracle rsETHPrice()","rate_date":"2026-10-12","rate_series":"price.rseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":41.17049897503194},{"token":"WEETH","family":"eth_lrt","native":521.8636273914742,"usd":1415592.321811366,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":576.9870962636877},{"token":"WETH","family":"eth_native","native":4553.920035387987,"usd":11307359.773764465,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":4553.920035387987},{"token":"WSTETH","family":"eth_lst","native":5278.2810300045585,"usd":16383512.02791809,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":6577.606601236393}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":3.426987598556157,"weight_usd":10222256.593787936,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.4937817185088753,"weight_usd":14749092.651582438,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.04086876373661065,"debt":null},"share_of_market":{"collateral":0.001278395199056202,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.5698146390437104,"lend":-1.620356216965034,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"compound_v3","name":"Compound v3"}},"secured_view":{"share_of_market":{"collateral":0.001278395199056202,"debt":null}}},"compound_v3_base":{"id":"compound_v3_base","level":"venue","name":"Compound v3 (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"compound_v3","metrics":{"collateral":{"eth":6581.5415953266165,"usd":16276440.082690395,"low":null,"high":null,"uncounted_usd":1285341.3489408388,"parts":[{"token":"CBETH","family":"eth_lst","native":626.5983793853003,"usd":1773419.1116029085,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":715.26140438139},{"token":"WETH","family":"eth_native","native":4452.855145295506,"usd":11022532.731853914,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":4452.855145295506},{"token":"WRSETH","family":"eth_lrt","native":6.796118857034488,"usd":18041.09022784281,"rate":1.0819944221775744,"rate_source":"Kelp rsETH rate, bridged wrapper","rate_date":"2026-10-12","rate_series":"price.wrseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":7.353362695767148},{"token":"WSTETH","family":"eth_lst","native":513.3708887959948,"usd":1582303.7680353057,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":639.7445925732025},{"token":"WSUPEROETHB","family":"eth_lst","native":690.2110625368479,"usd":1880143.380970426,"rate":1.1102793507309796,"rate_source":"wsuperOETHb ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.wsuperoethb_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":766.327090380751}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan; $1m of ether in tokens or on chains that do not count (custody) is stated beside it, never added","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":6.366882497937811,"weight_usd":8422040.470369168,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":5.253227623982316,"weight_usd":9290261.96858158,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.02249054394449974,"debt":null},"share_of_market":{"collateral":0.0007035153690507855,"debt":null},"vs_parent":{"ltv":null,"borrow":1.3700802603379438,"lend":1.139089688508407,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"compound_v3","name":"Compound v3"}},"secured_view":{"share_of_market":{"collateral":0.0007035153690507855,"debt":null}}},"compound_v3_ethereum":{"id":"compound_v3_ethereum","level":"venue","name":"Compound v3 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"compound_v3","metrics":{"collateral":{"eth":271722.13694676803,"usd":673488955.9185753,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"CBETH","family":"eth_lst","native":15.702068764109415,"usd":43983.64543501476,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":17.92389531381787},{"token":"ETH","family":"eth_native","native":50945.121648697415,"usd":124991187.86992496,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":50945.121648697415},{"token":"EZETH","family":"eth_lrt","native":15.448733590391345,"usd":41219.85778761782,"rate":1.0874978962084028,"rate_source":"Renzo RestakeManager calculateTVLs() / ezETH supply","rate_date":"2026-10-12","rate_series":"price.ezeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":16.80046527863467},{"token":"METH","family":"eth_lst","native":5.454376134152776,"usd":14958.021457752367,"rate":1.100574802454988,"rate_source":"Mantle staking mETHToETH()","rate_date":"2026-10-12","rate_series":"price.meth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":6.002948936360392},{"token":"PUFETH","family":"eth_lrt","native":60.750692830750076,"usd":161737.98740818424,"rate":1.0851355974249999,"rate_source":"pufETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.pufeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":65.92273935887864},{"token":"RSETH","family":"eth_lrt","native":13.580720070854902,"usd":36614.855390650235,"rate":1.0819944221775744,"rate_source":"Kelp LRTOracle rsETHPrice()","rate_date":"2026-10-12","rate_series":"price.rseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":14.694263365820037},{"token":"TETH","family":"eth_lrt","native":1298.4661310081242,"usd":3999225.4519288656,"rate":1.2556946160145819,"rate_source":"to be read (Treehouse tETH)","rate_date":"2026-10-12","rate_series":"price.teth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":1630.4769297841863},{"token":"WEETH","family":"eth_lrt","native":4865.295408983905,"usd":13203001.11664038,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":5379.2073697997985},{"token":"WETH","family":"eth_native","native":97415.39615164552,"usd":242737628.56449947,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":97415.39615164552},{"token":"WOETH","family":"eth_lst","native":4,"usd":11489.31447215618,"rate":1.1707315882859533,"rate_source":"wOETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.woeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":4.682926353143813},{"token":"WSTETH","family":"eth_lst","native":93266.90398423828,"usd":288247909.2336302,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":116225.90760823447}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":5.007077656755789,"weight_usd":477568744.5141982,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":4.143623190161051,"weight_usd":536840494.14628386,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.9285330151273455,"debt":null},"share_of_market":{"collateral":0.029044973230756742,"debt":null},"vs_parent":{"ltv":null,"borrow":0.010275419155921561,"lend":0.029485254687141804,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"compound_v3","name":"Compound v3"}},"secured_view":{"share_of_market":{"collateral":0.029044973230756742,"debt":null}}},"compound_v3_optimism":{"id":"compound_v3_optimism","level":"venue","name":"Compound v3 (Optimism)","deployment":"Optimism","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"compound_v3","metrics":{"collateral":{"eth":2253.3046361569527,"usd":5564700.92564753,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"EZETH","family":"eth_lrt","native":147.62986988700345,"usd":393883.3462919528,"rate":1.0874978962084028,"rate_source":"Renzo RestakeManager calculateTVLs() / ezETH supply","rate_date":"2026-10-12","rate_series":"price.ezeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":160.5471729196365},{"token":"RETH","family":"eth_lst","native":70.58161407326077,"usd":203240.5159460617,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z","eth":82.83874263936812},{"token":"WEETH","family":"eth_lrt","native":286.5388025340733,"usd":777248.5160024565,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":316.8053548154028},{"token":"WETH","family":"eth_native","native":886.4670130636777,"usd":2183262.5599844283,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":886.4670130636777},{"token":"WRSETH","family":"eth_lrt","native":10.414010648181678,"usd":27645.20599034132,"rate":1.0819944221775744,"rate_source":"Kelp rsETH rate, bridged wrapper","rate_date":"2026-10-12","rate_series":"price.wrseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":11.267901433830442},{"token":"WSTETH","family":"eth_lst","native":638.2611861133614,"usd":1979420.7814322887,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":795.378451285037}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":5.25261617512864,"weight_usd":1392180.9670998368,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":4.449641009264225,"weight_usd":1557063.5453945133,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.007700026841100286,"debt":null},"share_of_market":{"collateral":0.00024086065851432724,"debt":null},"vs_parent":{"ltv":null,"borrow":0.2558139375287727,"lend":0.3355030737903153,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"compound_v3","name":"Compound v3"}},"secured_view":{"share_of_market":{"collateral":0.00024086065851432724,"debt":null}}},"compound_v3_polygon":{"id":"compound_v3_polygon","level":"venue","name":"Compound v3 (Polygon)","deployment":"Polygon","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"compound_v3","metrics":{"collateral":{"eth":83.44549148692622,"usd":207928.5399777796,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":83.44549148692622,"usd":207928.5399777796,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":83.44549148692622}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":2.7870243514228488,"weight_usd":341745.51232114894,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":0,"weight_usd":737684.5377595049,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.00028515120144339954,"debt":null},"share_of_market":{"collateral":0.000008919671005457768,"debt":null},"vs_parent":{"ltv":null,"borrow":-2.2097778861770188,"lend":-4.114137935473909,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"compound_v3","name":"Compound v3"}},"secured_view":{"share_of_market":{"collateral":0.000008919671005457768,"debt":null}}},"compound_v3_scroll":{"id":"compound_v3_scroll","level":"venue","name":"Compound v3 (Scroll)","deployment":"Scroll","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"compound_v3","metrics":{"collateral":{"eth":35.84765430880136,"usd":89332.32524067903,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":35.84765430880136,"usd":89332.32524067903,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":35.84765430880136}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.00012249914900056515,"debt":null},"share_of_market":{"collateral":0.00000383183413572422,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"compound_v3","name":"Compound v3"}},"secured_view":{"share_of_market":{"collateral":0.00000383183413572422,"debt":null}}},"crvusd_ethereum":{"id":"crvusd_ethereum","level":"venue","name":"crvUSD (Ethereum)","deployment":"Ethereum","venue_type":"onchain_cdp","status":"ingesting","class_id":"minted","family_id":"crvusd","metrics":{"collateral":{"eth":27910.324775263227,"usd":69203589.75245655,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"SFRXETH","family":"eth_lst","native":1703.674722040992,"usd":4944050.238640244,"rate":1.1716080680599186,"rate_source":"sfrxETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.sfrxeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":1996.0390496929654},{"token":"WEETH","family":"eth_lrt","native":2034.2875800733336,"usd":5577386.250727592,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":2249.165533261636},{"token":"WETH","family":"eth_native","native":2460.0134772835877,"usd":6100506.347390145,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":2460.0134772835877},{"token":"WSTETH","family":"eth_lst","native":17016.29776583174,"usd":52581646.91569856,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":21205.10671502504}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":33935814.62984756,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.4955832243128647,"debt_usd":33935814.62984756,"collateral_usd":68476520.11808953,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":3.5581942347116935,"weight_usd":33935814.62984756,"low":1.2094963858368,"high":3.578362199856,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg","observer":null},"liquidation":{"eth_price":1371.93342285872,"debt_usd":33935814.62984756,"headroom_pct":0.4408140580743384,"eth_price_ref":2453.447628054114,"threshold_low":0.8371,"threshold_high":0.9014285714285714,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{},"ltv_all":{"value":0.4955832243128647,"debt_usd":33935814.62984756,"collateral_usd":68476520.11808953,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 5 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":33935814.62984756,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":33935814.62984756,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":33935814.62984756,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.03732187018516531,"debt":0.06977642600161521},"share_of_market":{"collateral":0.002983395630066236,"debt":0.007596277498379065},"vs_parent":{"ltv":0.22821913535301142,"borrow":-5.366533550837968,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.002983395630066236,"debt":0.007596277498379065}}},"curvance_monad":{"id":"curvance_monad","level":"venue","name":"Curvance (Monad)","deployment":"Monad","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"curvance","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":15179.405842889753,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($15,179) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":4.302853765468905,"weight_usd":264707.89147251553,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":1.1400763376249263,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"curve_llamalend_arbitrum":{"id":"curve_llamalend_arbitrum","level":"venue","name":"Curve LlamaLend (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"curve_llamalend","metrics":{"collateral":{"eth":168.4418783308289,"usd":418109.31528634037,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":168.4418783308289,"usd":418109.31528634037,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":168.4418783308289}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":170151.106077446,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.4117256359813332,"debt_usd":170151.106077446,"collateral_usd":413263.3268557518,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":4.647995231521041,"weight_usd":170151.106077446,"low":3.4514066997360002,"high":4.9707281012976,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":1120.6071307531402,"debt_usd":170151.106077446,"headroom_pct":0.5432520678495512,"eth_price_ref":2453.447628054114,"threshold_low":0.9014285714285714,"threshold_high":0.9014285714285714,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{},"ltv_all":{"value":0.4117256359813332,"debt_usd":170151.106077446,"collateral_usd":413263.3268557518,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 2 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":170151.106077446,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":170151.106077446,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":170151.106077446,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.04782026338256798,"debt":0.03892527115040276},"share_of_market":{"collateral":0.000018005120606039388,"debt":0.000038087048521405084},"vs_parent":{"ltv":-0.0940853133607355,"borrow":1.8763995279738714,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"curve_llamalend","name":"Curve LlamaLend"}},"secured_view":{"share_of_market":{"collateral":0.000018005120606039388,"debt":0.000038087048521405084}}},"curve_llamalend_ethereum":{"id":"curve_llamalend_ethereum","level":"venue","name":"Curve LlamaLend (Ethereum)","deployment":"Ethereum","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"curve_llamalend","metrics":{"collateral":{"eth":3285.9048164751016,"usd":8160103.975530237,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":810.3217136849863,"usd":2016495.008921144,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":810.3217136849863},{"token":"WSTETH","family":"eth_lst","native":1986.5620007132566,"usd":6143608.966609093,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":2475.5831027901154},{"token":"YNETH","family":"eth_lrt","native":0,"usd":0,"rate":1.0809924023954194,"rate_source":"ynETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.yneth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":0}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":4102465.952817284,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.5088774597301788,"debt_usd":4102465.952817284,"collateral_usd":8061795.377992428,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":2.6213123957887294,"weight_usd":4102465.952817284,"low":1.8610613853984,"high":2.7568688165712,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":1385.028427229235,"debt_usd":4102465.952817284,"headroom_pct":0.4354766690790408,"eth_price_ref":2453.447628054114,"threshold_low":0.9014285714285714,"threshold_high":0.9014285714285714,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{},"ltv_all":{"value":0.5088774597301788,"debt_usd":4102465.952817284,"collateral_usd":8061795.377992428,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 3 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":4102465.952817284,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":4102465.952817284,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":4102465.952817284,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.9328608498729202,"debt":0.9385163768845785},"share_of_market":{"collateral":0.00035123754915865037,"debt":0.000918306224417049},"vs_parent":{"ltv":0.003066510388110122,"borrow":-0.15028330775844045,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"curve_llamalend","name":"Curve LlamaLend"}},"secured_view":{"share_of_market":{"collateral":0.00035123754915865037,"debt":0.000918306224417049}}},"curve_llamalend_fraxtal":{"id":"curve_llamalend_fraxtal","level":"venue","name":"Curve LlamaLend (Fraxtal)","deployment":"Fraxtal","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"curve_llamalend","metrics":{"collateral":{"eth":0.00008337425963566756,"usd":0.20789027865387497,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"SFRXETH","family":"eth_lst","native":0.000071162244361912,"usd":0.20789027865387497,"rate":1.1716080680599186,"rate_source":"sfrxETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.sfrxeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":0.00008337425963566756}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":0.01043403240544996,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.05100859941847818,"debt_usd":0.01043403240544996,"collateral_usd":0.2045543795438964,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":2.0000054031408,"weight_usd":0.01043403240544996,"low":2.0000054031408,"high":2.0000054031408,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":138.8317734984777,"debt_usd":0.01043403240544996,"headroom_pct":0.9434135981094537,"eth_price_ref":2453.447628054114,"threshold_low":0.9014285714285714,"threshold_high":0.9014285714285714,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{},"ltv_all":{"value":0.05100859941847818,"debt_usd":0.01043403240544996,"collateral_usd":0.2045543795438964,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 1 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":0.01043403240544996,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":0.01043403240544996,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":0.01043403240544996,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":2.366976131240705e-8,"debt":2.386981489202701e-9},"share_of_market":{"collateral":8.912056877156582e-12,"debt":2.3355798716900747e-12},"vs_parent":{"ltv":-0.45480234992359053,"borrow":-0.7715903004063698,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"curve_llamalend","name":"Curve LlamaLend"}},"secured_view":{"share_of_market":{"collateral":8.912056877156582e-12,"debt":2.3355798716900747e-12}}},"curve_llamalend_optimism":{"id":"curve_llamalend_optimism","level":"venue","name":"Curve LlamaLend (Optimism)","deployment":"Optimism","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"curve_llamalend","metrics":{"collateral":{"eth":68.04867546407728,"usd":169394.11793194216,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WSTETH","family":"eth_lst","native":54.606493606878324,"usd":169394.11793194216,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":68.04867546407728}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":98607.614502,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.5906279355833508,"debt_usd":98607.614502,"collateral_usd":166953.8614095646,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":5.786177364201599,"weight_usd":98607.614502,"low":5.7861773642016,"high":5.7861773642016,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":1733.5428182821565,"debt_usd":98607.614502,"headroom_pct":0.2934257905243857,"eth_price_ref":2453.447628054114,"threshold_low":0.8359036144578313,"threshold_high":0.8359036144578313,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{},"ltv_all":{"value":0.5906279355833508,"debt_usd":98607.614502,"collateral_usd":166953.8614095646,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 1 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":98607.614502,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":98607.614502,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":98607.614502,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.0193188630747505,"debt":0.02255834957803732},"share_of_market":{"collateral":0.000007273871681753261,"debt":0.000022072574693744563},"vs_parent":{"ltv":0.08481698624128209,"borrow":3.014581660654429,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"curve_llamalend","name":"Curve LlamaLend"}},"secured_view":{"share_of_market":{"collateral":0.000007273871681753261,"debt":0.000022072574693744563}}},"dolomite_arbitrum":{"id":"dolomite_arbitrum","level":"venue","name":"Dolomite (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"dolomite","metrics":{"collateral":{"eth":2611.7080749969255,"usd":6509289.722749013,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"EZETH","family":"eth_lrt","native":13.849797900853558,"usd":37538.99124249761,"rate":1.0874978962084028,"rate_source":"Renzo RestakeManager calculateTVLs() / ezETH supply","rate_date":"2026-10-12","rate_series":"price.ezeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":15.061626080089797},{"token":"RETH","family":"eth_lst","native":16.508437126983225,"usd":48290.156081741785,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z","eth":19.37527488562256},{"token":"WEETH","family":"eth_lrt","native":47.27653804208909,"usd":130252.07186241639,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":52.27026942393571},{"token":"WETH","family":"eth_native","native":2517.6526851669846,"usd":6274896.3224540865,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":2517.6526851669846},{"token":"WSTETH","family":"eth_lst","native":5.896668747066235,"usd":18312.181108270597,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":7.34821944029261}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":7.763892923331044,"weight_usd":2931433.0052141105,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":4.431518032953612,"weight_usd":4175281.898131682,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.08160763278740375,"debt":null},"share_of_market":{"collateral":0.00027917118559868295,"debt":null},"vs_parent":{"ltv":null,"borrow":2.981548979725466,"lend":1.6298631606298306,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"dolomite","name":"Dolomite"}},"secured_view":{"share_of_market":{"collateral":0.00027917118559868295,"debt":null}}},"dolomite_berachain":{"id":"dolomite_berachain","level":"venue","name":"Dolomite (Berachain)","deployment":"Berachain","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"dolomite","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":868567.0840084925,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($868,567) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":5.929018601970797,"weight_usd":1993477.3087717406,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.6674731276507266,"weight_usd":2814632.8714195564,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":1.1466746583652192,"lend":0.8658182553269453,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"dolomite","name":"Dolomite"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"dolomite_ethereum":{"id":"dolomite_ethereum","level":"venue","name":"Dolomite (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"dolomite","metrics":{"collateral":{"eth":29391.524781918466,"usd":72973938.38729316,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"METH","family":"eth_lst","native":1378.4934934324508,"usd":3764640.8753317003,"rate":1.100574802454988,"rate_source":"Mantle staking mETHToETH()","rate_date":"2026-10-12","rate_series":"price.meth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":1517.1352042199057},{"token":"WEETH","family":"eth_lrt","native":7121.244459240278,"usd":19546759.702924076,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":7873.448055498742},{"token":"WETH","family":"eth_native","native":18275.804450443276,"usd":45379005.20849516,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":18275.804450443276},{"token":"WSTETH","family":"eth_lst","native":1384.357385906687,"usd":4283532.6005422175,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":1725.1370717565444}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":4.747507444790975,"weight_usd":316509447.6486975,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.780478941430165,"weight_usd":436443560.35908335,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.9183923672125963,"debt":null},"share_of_market":{"collateral":0.0031417243368330548,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.03483649881460238,"lend":-0.021175930893616357,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"dolomite","name":"Dolomite"}},"secured_view":{"share_of_market":{"collateral":0.0031417243368330548,"debt":null}}},"etherfi_borrowing_optimism":{"id":"etherfi_borrowing_optimism","level":"venue","name":"EtherFi Borrowing (Optimism)","deployment":"Optimism","venue_type":"onchain_pooled","status":"registered","class_id":"algorithmic","family_id":"etherfi_borrowing","metrics":{"collateral":{"eth":5788.935353764762,"usd":14422688.833995603,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WEETH","family":"eth_lrt","native":3584.897291392072,"usd":9874445.591818655,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":3963.56321842725},{"token":"WETH","family":"eth_native","native":1825.3721353375126,"usd":4548243.242176949,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":1825.3721353375126}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan; $93m of synthetic ether (LIQUIDETH) is not ether collateral: stated beside it, never added","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":92975008.22770602,"synthetic_excluded":[{"token":"LIQUIDETH","native":33682.54321726406,"usd":92975008.22770602}]},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":4.009534020258295,"weight_usd":39540981.705630966,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":1.599004722888799,"weight_usd":61321978.54724874,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.000672553842934393,"debt":null},"share_of_market":{"collateral":0.0006187919551715374,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.8318301685695104,"lend":-1.5637727049551797,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0006187919551715374,"debt":null}}},"euler_v2_arbitrum":{"id":"euler_v2_arbitrum","level":"venue","name":"Euler v2 (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"eth":193.52446690647764,"usd":482332.59998185665,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"TETH","family":"eth_lrt","native":76.5611213173322,"usd":239608.95985253277,"rate":1.2556946160145819,"rate_source":"to be read (Treehouse tETH)","rate_date":"2026-10-12","rate_series":"price.teth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":96.13738783421327},{"token":"WETH","family":"eth_native","native":97.38707907226437,"usd":242723.64012932387,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":97.38707907226437}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":13.911183722069005,"weight_usd":328086.8915562,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":9.00393731204712,"weight_usd":416730.8051070333,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.006207989725441697,"debt":null},"share_of_market":{"collateral":0.000020686253332006887,"debt":null},"vs_parent":{"ltv":null,"borrow":3.968634735488326,"lend":1.2271738224707294,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":0.000020686253332006887,"debt":null}}},"euler_v2_avalanche":{"id":"euler_v2_avalanche","level":"venue","name":"Euler v2 (Avalanche)","deployment":"Avalanche","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":14136.327600850644,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($14,136) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":15.436671834999213,"weight_usd":32284731.355817966,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":13.891711506566212,"weight_usd":32287746.542895216,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":5.4941228484185345,"lend":6.114948016989822,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"euler_v2_base":{"id":"euler_v2_base","level":"venue","name":"Euler v2 (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"eth":4379.402465145367,"usd":10891399.219303772,"low":null,"high":null,"uncounted_usd":284694.6848690381,"parts":[{"token":"CBETH","family":"eth_lst","native":48.7535944115977,"usd":138397.85426714807,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":55.65217778202592},{"token":"WETH","family":"eth_native","native":4307.700617521709,"usd":10713086.45084284,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":4307.700617521709},{"token":"WSTETH","family":"eth_lst","native":12.879254263549049,"usd":39914.91419378372,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":16.04966984163195}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":14.46456670344429,"weight_usd":913250.8076880138,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":9.24585822602661,"weight_usd":1332470.6467795724,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.14048500399866737,"debt":null},"share_of_market":{"collateral":0.0004681239033232557,"debt":null},"vs_parent":{"ltv":null,"borrow":4.522017716863612,"lend":1.4690947364502192,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":0.0004681239033232557,"debt":null}}},"euler_v2_ethereum":{"id":"euler_v2_ethereum","level":"venue","name":"Euler v2 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"eth":3143.7546248036324,"usd":7805526.566199636,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"PUFETH","family":"eth_lrt","native":4.492527094405456,"usd":11960.559818173884,"rate":1.0851355974249999,"rate_source":"pufETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.pufeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":4.875001072535663},{"token":"TETH","family":"eth_lrt","native":277.87720872556076,"usd":866393.9850102987,"rate":1.2556946160145819,"rate_source":"to be read (Treehouse tETH)","rate_date":"2026-10-12","rate_series":"price.teth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":348.92891490984687},{"token":"WEETH","family":"eth_lrt","native":400.7768724008466,"usd":1100258.8706852933,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":443.1101761432796},{"token":"WETH","family":"eth_native","native":995.0627674246846,"usd":2470435.4417843106,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":995.0627674246846},{"token":"WSTETH","family":"eth_lst","native":1084.7506346422715,"usd":3356477.7089015595,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":1351.7777652532855}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan; $77,650 of synthetic ether (ALETH) is not ether collateral: stated beside it, never added","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":77650.06731379384,"synthetic_excluded":[{"token":"ALETH","native":32.21760500125933,"usd":77650.06731379384}]},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":10.247485350102107,"weight_usd":36560812.35023107,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":6.6304020888142645,"weight_usd":50000150.526515044,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.1008471782512246,"debt":null},"share_of_market":{"collateral":0.000336042804415959,"debt":null},"vs_parent":{"ltv":null,"borrow":0.3049363635214277,"lend":-1.1463614007621254,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":0.000336042804415959,"debt":null}}},"euler_v2_hyperliquid_l1":{"id":"euler_v2_hyperliquid_l1","level":"venue","name":"Euler v2 (Hyperliquid L1)","deployment":"Hyperliquid L1","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":31628.094798275677,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($31,628) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":11.237008058183973,"weight_usd":334172.0278491011,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":9.324461042398562,"weight_usd":499979.6920388547,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":1.2944590716032938,"lend":1.5476975528221724,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"euler_v2_linea":{"id":"euler_v2_linea","level":"venue","name":"Euler v2 (Linea)","deployment":"Linea","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"eth":97.37573735083168,"usd":241431.61669275188,"low":null,"high":null,"uncounted_usd":33749.62507895052,"parts":[{"token":"WETH","family":"eth_native","native":91.19586047680937,"usd":226269.61243451535,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":91.19586047680937},{"token":"WSTETH","family":"eth_lst","native":4.959117935965407,"usd":15162.00425823652,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":6.179876874022315}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.0031236751954129183,"debt":null},"share_of_market":{"collateral":0.000010408705438799716,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":0.000010408705438799716,"debt":null}}},"euler_v2_monad":{"id":"euler_v2_monad","level":"venue","name":"Euler v2 (Monad)","deployment":"Monad","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"eth":22303.45167694425,"usd":55539591.50792889,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":22303.45167694425,"usd":55539591.50792889,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":22303.45167694425}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":7.085976755886571,"weight_usd":68049869.2289701,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":5.860708096199007,"weight_usd":74821632.86599202,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.7154630164632727,"debt":null},"share_of_market":{"collateral":0.0023840647073860998,"debt":null},"vs_parent":{"ltv":null,"borrow":-2.856572230694108,"lend":-1.9160553933773832,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":0.0023840647073860998,"debt":null}}},"euler_v2_unichain":{"id":"euler_v2_unichain","level":"venue","name":"Euler v2 (Unichain)","deployment":"Unichain","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"euler_v2","metrics":{"collateral":{"eth":1055.9425752288053,"usd":2627405.838117403,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"RETH","family":"eth_lst","native":10.822655857260367,"usd":31163.953909561726,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z","eth":12.702106844758118},{"token":"WEETH","family":"eth_lrt","native":309.7365919413338,"usd":852609.8569367257,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":342.4534828842923},{"token":"WETH","family":"eth_native","native":662.1576571636924,"usd":1647454.1201319734,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":662.1576571636924},{"token":"WSTETH","family":"eth_lst","native":30.998577950789834,"usd":96177.90713914181,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":38.62932833606247}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.03387313636598087,"debt":null},"share_of_market":{"collateral":0.00011287201026519744,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"euler_v2","name":"Euler v2"}},"secured_view":{"share_of_market":{"collateral":0.00011287201026519744,"debt":null}}},"exactly_optimism":{"id":"exactly_optimism","level":"venue","name":"Exactly (Optimism)","deployment":"Optimism","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"exactly","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"extra_finance_xlend_base":{"id":"extra_finance_xlend_base","level":"venue","name":"Extra Finance xLend (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"extra_finance_xlend","metrics":{"collateral":{"eth":0,"usd":127830,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":0,"usd":127830,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":0}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":3.454669885489425,"weight_usd":382721.56666666665,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":1.7296309610118057,"weight_usd":682207.3666666667,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":0,"debt":null},"vs_parent":{"ltv":null,"borrow":0,"lend":0,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"extra_finance_xlend","name":"Extra Finance xLend"}},"secured_view":{"share_of_market":{"collateral":0,"debt":null}}},"extra_finance_xlend_optimism":{"id":"extra_finance_xlend_optimism","level":"venue","name":"Extra Finance xLend (Optimism)","deployment":"Optimism","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"extra_finance_xlend","metrics":{"collateral":{"eth":0,"usd":154289,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":0,"usd":154289,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":0}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":0,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"extra_finance_xlend","name":"Extra Finance xLend"}},"secured_view":{"share_of_market":{"collateral":0,"debt":null}}},"fira_ethereum":{"id":"fira_ethereum","level":"venue","name":"Fira (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"fira","metrics":{"collateral":{"eth":0,"usd":49,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WSTETH","family":"eth_lst","native":0,"usd":49,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":0}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0,"debt":null},"share_of_market":{"collateral":0,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0,"debt":null}}},"fluid_lending_arbitrum":{"id":"fluid_lending_arbitrum","level":"venue","name":"Fluid Lending (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"fluid_lending","metrics":{"collateral":{"eth":9633.045035231866,"usd":23824666.815410323,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"ETH","family":"eth_native","native":3389.1180320210983,"usd":8444928.703598205,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":3389.1180320210983},{"token":"WEETH","family":"eth_lrt","native":237.09284036107545,"usd":650239.8603648503,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":262.136509088853},{"token":"WSTETH","family":"eth_lst","native":4800.1610927370475,"usd":14729498.251447266,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":5981.790494121915}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":5309320.52931286,"low":null,"high":null,"kind":"exact","limitation":"dollar loans only: 4 market(s) lending in other currencies are in their own books","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.4380259171544045,"debt_usd":5309320.52931286,"collateral_usd":12121019.148374548,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":6.865181846421782,"weight_usd":5309320.52931286,"low":5.34,"high":7.43,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":1262.1476333136807,"debt_usd":5309320.52931286,"headroom_pct":0.4855616158740999,"eth_price_ref":2453.447628054114,"threshold_low":0.75,"threshold_high":0.87,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{"btc":{"debt":1.82026008,"collateral_eth":77.56765141721729,"ltv":null,"borrow_rate":1.05,"asset":"WBTC","kind":"exact","limitation":"BTC lent against ether in 2 market(s), in the loan asset's own units (WBTC); a separate book, never added to another currency; its LTV converts both sides at the day's rates in /v1/market/tree","ltv_debt":1.82026008,"ltv_collateral_eth":77.56765141721729,"venue_priced":null},"eth":{"debt":2532.933529381302,"collateral_eth":4615.074739887823,"ltv":0.5488391135877615,"borrow_rate":1.9384028465969856,"asset":"mixed","kind":"exact","limitation":"ether lent against ether in 2 market(s) (ETH, WSTETH), in ETH at each token's contract rate — leverage on staking yield: a separate book, outside the headline, never added to another currency","ltv_debt":2532.933529381302,"ltv_collateral_eth":4615.074739887823,"venue_priced":null}},"ltv_all":{"value":0.4938831177454125,"debt_usd":11672518.302108906,"collateral_usd":23634171.492628083,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 13 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":11672518.30210891,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":5309320.52931286,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":5309320.52931286,"share":0.454856475003651},{"currency":"btc","basis":"native","native":1.82026008,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":148778.01311675826,"share":0.012746008124902924},{"currency":"eth","basis":"native","native":2532.933529381302,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":6214419.7596792905,"share":0.532397516871446}],"limitation":"all debt secured by ether here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.06438645565369579,"debt":0.06115385231317369},"share_of_market":{"collateral":0.0010296972426423853,"debt":0.0011884515668301927},"vs_parent":{"ltv":-0.07486339027076011,"borrow":0.303165713924316,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"fluid_lending","name":"Fluid Lending"}},"secured_view":{"share_of_market":{"collateral":0.0010296972426423853,"debt":0.0011884515668301927}}},"fluid_lending_base":{"id":"fluid_lending_base","level":"venue","name":"Fluid Lending (Base)","deployment":"Base","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"fluid_lending","metrics":{"collateral":{"eth":5002.225825332338,"usd":12387756.591564983,"low":null,"high":null,"uncounted_usd":629885.3377875031,"parts":[{"token":"CBETH","family":"eth_lst","native":32.43264234796152,"usd":92191.85533101115,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":37.02182781953506},{"token":"ETH","family":"eth_native","native":1764.7618083065913,"usd":4388892.555089216,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":1764.7618083065913},{"token":"WSTETH","family":"eth_lst","native":2568.2340582269026,"usd":7906672.181144757,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":3200.4421892062114}],"kind":"exact","limitation":"$629,885 of ether in tokens or on chains that do not count (custody) is stated beside it, never added","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":3018795.9140792256,"low":null,"high":null,"kind":"exact","limitation":"dollar loans only: 5 market(s) lending in other currencies are in their own books","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.3759636903801129,"debt_usd":3018795.9140792256,"collateral_usd":8029487.930143237,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":5.107770332657459,"weight_usd":3018795.9140792256,"low":5.08,"high":5.78,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":1117.7423333975705,"debt_usd":3018795.9140792256,"headroom_pct":0.5444197297644875,"eth_price_ref":2453.447628054114,"threshold_low":0.7,"threshold_high":0.85,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{"btc":{"debt":0.39035703,"collateral_eth":22.165245192663555,"ltv":null,"borrow_rate":0.04,"asset":"CBBTC","kind":"exact","limitation":"BTC lent against ether in 1 market(s), in the loan asset's own units (CBBTC); a separate book, never added to another currency; its LTV converts both sides at the day's rates in /v1/market/tree","ltv_debt":0.39035703,"ltv_collateral_eth":22.165245192663555,"venue_priced":null},"eth":{"debt":1399.9385238030304,"collateral_eth":1569.7443776452003,"ltv":0.8918257926192426,"borrow_rate":1.6599999999999997,"asset":"ETH","kind":"exact","limitation":"ether lent against ether in 1 market(s) (ETH), in ETH at each token's contract rate — leverage on staking yield: a separate book, outside the headline, never added to another currency","ltv_debt":1399.9385238030304,"ltv_collateral_eth":1569.7443776452003,"venue_priced":null},"eur":{"debt":115510.40130600001,"collateral_eth":137.57956922400552,"ltv":null,"borrow_rate":4.489999999999999,"asset":"EURC","kind":"exact","limitation":"EUR lent against ether in 3 market(s), in the loan asset's own units (EURC); a separate book, never added to another currency; its LTV converts both sides at the day's rates in /v1/market/tree","ltv_debt":115510.40130600001,"ltv_collateral_eth":137.57956922400552,"venue_priced":null}},"ltv_all":{"value":0.5389629067970809,"debt_usd":6614529.5737187145,"collateral_usd":12272699.086152658,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 10 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null}},"share_of_parent":{"collateral":0.03343445297873873,"debt":0.03477111590343289},"share_of_market":{"collateral":0.000534698853849515,"debt":0.0006757348165778124},"vs_parent":{"ltv":-0.13692561704505168,"borrow":-1.454245799840007,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"fluid_lending","name":"Fluid Lending"}},"secured_view":{"share_of_market":{"collateral":0.000534698853849515,"debt":0.0006757348165778124}}},"fluid_lending_ethereum":{"id":"fluid_lending_ethereum","level":"venue","name":"Fluid Lending (Ethereum)","deployment":"Ethereum","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"fluid_lending","metrics":{"collateral":{"eth":134712.33622666428,"usd":332632518.31005156,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"ETH","family":"eth_native","native":52684.70827380503,"usd":131097573.50451884,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":52684.70827380503},{"token":"WEETH","family":"eth_lrt","native":2923.6155428250986,"usd":7971152.643555238,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":3232.4315282862685},{"token":"WEETHS","family":"eth_lrt","native":437.4362110593806,"usd":1142411.3288710192,"rate":1.0644639997824388,"rate_source":"to be read (ether.fi liquid vault)","rate_date":"2026-10-12","rate_series":"price.weeths_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":465.6350988739433},{"token":"WSTETH","family":"eth_lst","native":62856.516465472516,"usd":192421380.83310652,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":78329.56132569905}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":78211030.98792435,"low":null,"high":null,"kind":"exact","limitation":"dollar loans only: 7 market(s) lending in other currencies are in their own books","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.5267691683473276,"debt_usd":78211030.98792435,"collateral_usd":148473061.2334463,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":6.606205544186627,"weight_usd":78211030.98792435,"low":5.52,"high":16.97,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":1498.9231773956587,"debt_usd":78211030.98792435,"headroom_pct":0.3890543412232975,"eth_price_ref":2453.447628054114,"threshold_low":0.77,"threshold_high":0.87,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{"btc":{"debt":9.15217781,"collateral_eth":499.6473402531615,"ltv":null,"borrow_rate":0.34283685553744725,"asset":"mixed","kind":"exact","limitation":"BTC lent against ether in 3 market(s), in the loan asset's own units (CBBTC, WBTC); a separate book, never added to another currency; its LTV converts both sides at the day's rates in /v1/market/tree","ltv_debt":9.15217781,"ltv_collateral_eth":499.6473402531615,"venue_priced":null},"eth":{"debt":67221.24424404607,"collateral_eth":73696.59735230988,"ltv":0.9121349785349235,"borrow_rate":2.305085381659064,"asset":"mixed","kind":"exact","limitation":"ether lent against ether in 4 market(s) (ETH, WSTETH), in ETH at each token's contract rate — leverage on staking yield: a separate book, outside the headline, never added to another currency","ltv_debt":67221.24424404607,"ltv_collateral_eth":73696.59735230988,"venue_priced":null}},"ltv_all":{"value":0.737899401852615,"debt_usd":243882881.73761564,"collateral_usd":330509661.78493774,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 18 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":243882881.7376156,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":78211030.98792435,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":78211030.98792435,"share":0.3206909416138057},{"currency":"btc","basis":"native","native":9.15217781,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":748048.5042901583,"share":0.0030672448142340532},{"currency":"eth","basis":"native","native":67221.24424404607,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":164923802.24540108,"share":0.6762418135719603}],"limitation":"all debt secured by ether here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.9004058250263441,"debt":0.9008508361644512},"share_of_market":{"collateral":0.01439969611427975,"debt":0.017506952501327545},"vs_parent":{"ltv":0.013879860922162979,"borrow":0.04418941168916124,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"fluid_lending","name":"Fluid Lending"}},"secured_view":{"share_of_market":{"collateral":0.01439969611427975,"debt":0.017506952501327545}}},"fluid_lending_plasma":{"id":"fluid_lending_plasma","level":"venue","name":"Fluid Lending (Plasma)","deployment":"Plasma","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"fluid_lending","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar loan against ether is read at this venue","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether markets","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"fluid_lending","name":"Fluid Lending"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"fluid_lending_polygon":{"id":"fluid_lending_polygon","level":"venue","name":"Fluid Lending (Polygon)","deployment":"Polygon","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"fluid_lending","metrics":{"collateral":{"eth":265.30353862498004,"usd":661080.3825857191,"low":null,"high":null,"uncounted_usd":1205085.987127508,"parts":[{"token":"WETH","family":"eth_native","native":265.30353862498004,"usd":661080.3825857191,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":265.30353862498004}],"kind":"exact","limitation":"$1m of ether in tokens or on chains that do not count (custody) is stated beside it, never added","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":279921.662212,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.43004774414777674,"debt_usd":279921.662212,"collateral_usd":650908.3375538202,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":4.1483690009452205,"weight_usd":279921.662212,"low":1.57,"high":5.11,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":1324.7532632565133,"debt_usd":279921.662212,"headroom_pct":0.46004420550553765,"eth_price_ref":2453.447628054114,"threshold_low":0.78,"threshold_high":0.8,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{},"ltv_all":{"value":0.43004774414777674,"debt_usd":279921.662212,"collateral_usd":650908.3375538202,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 3 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":279921.662212,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":279921.662212,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":279921.662212,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.0017732663412213235,"debt":0.003224195618942263},"share_of_market":{"collateral":0.00002835887522442524,"debt":0.00006265836394861969},"vs_parent":{"ltv":-0.08284156327738784,"borrow":-2.4136471315522456,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"fluid_lending","name":"Fluid Lending"}},"secured_view":{"share_of_market":{"collateral":0.00002835887522442524,"debt":0.00006265836394861969}}},"folks_finance_xchain_arbitrum":{"id":"folks_finance_xchain_arbitrum","level":"venue","name":"Folks Finance xChain (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"folks_finance_xchain","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"folks_finance_xchain","name":"Folks Finance xChain"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"folks_finance_xchain_avalanche":{"id":"folks_finance_xchain_avalanche","level":"venue","name":"Folks Finance xChain (Avalanche)","deployment":"Avalanche","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"folks_finance_xchain","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"folks_finance_xchain","name":"Folks Finance xChain"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"folks_finance_xchain_base":{"id":"folks_finance_xchain_base","level":"venue","name":"Folks Finance xChain (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"folks_finance_xchain","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"folks_finance_xchain","name":"Folks Finance xChain"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"folks_finance_xchain_ethereum":{"id":"folks_finance_xchain_ethereum","level":"venue","name":"Folks Finance xChain (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"folks_finance_xchain","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"folks_finance_xchain","name":"Folks Finance xChain"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"folks_finance_xchain_monad":{"id":"folks_finance_xchain_monad","level":"venue","name":"Folks Finance xChain (Monad)","deployment":"Monad","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"folks_finance_xchain","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"folks_finance_xchain","name":"Folks Finance xChain"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"folks_finance_xchain_polygon":{"id":"folks_finance_xchain_polygon","level":"venue","name":"Folks Finance xChain (Polygon)","deployment":"Polygon","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"folks_finance_xchain","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"folks_finance_xchain","name":"Folks Finance xChain"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"frankencoin_ethereum":{"id":"frankencoin_ethereum","level":"venue","name":"Frankencoin (Ethereum)","deployment":"Ethereum","venue_type":"onchain_cdp","status":"ingesting","class_id":"minted","family_id":"frankencoin","metrics":{"collateral":{"eth":6398.394761736803,"usd":15698126.451537028,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"LSETH","family":"eth_lst","native":2860.951668759467,"usd":7856677.712186207,"rate":1.1193131999134154,"rate_source":"lsETH.underlyingBalanceFromShares()","rate_date":"2026-10-12","rate_series":"price.lseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":3202.3009671567843},{"token":"WETH","family":"eth_native","native":514.6181712699339,"usd":1262588.731655765,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":514.6181712699339},{"token":"WSTETH","family":"eth_lst","native":2151.782977151115,"usd":6578860.007695056,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":2681.475623310085}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar loan against ether is read at this venue","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether markets","observer":null},"books":{"chf":{"debt":6475596.637921931,"collateral_eth":6398.394761736803,"ltv":null,"borrow_rate":1.16612593488346,"asset":"ZCHF","kind":"exact","limitation":"CHF lent against ether in 3 market(s), in the loan asset's own units (ZCHF); a separate book, never added to another currency; its LTV converts both sides at the day's rates in /v1/market/tree","ltv_debt":6475596.637921931,"ltv_collateral_eth":6398.394761736803,"venue_priced":null}},"ltv_all":{"value":0.4974166295511504,"debt_usd":7808509.149791308,"collateral_usd":15698126.451537026,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 3 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null}},"share_of_parent":{"collateral":0.00855597563316891,"debt":null},"share_of_market":{"collateral":0.0006839384036305699,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.0006839384036305699,"debt":null}}},"fraxlend_ethereum":{"id":"fraxlend_ethereum","level":"venue","name":"Fraxlend (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"fraxlend","metrics":{"collateral":{"eth":6314.437619810404,"usd":15594808.431785744,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"SFRXETH","family":"eth_lst","native":5359.168308533685,"usd":15506503.355777593,"rate":1.1716080680599186,"rate_source":"sfrxETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.sfrxeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":6278.844828369093},{"token":"WSTETH","family":"eth_lst","native":28.561871704863563,"usd":88305.07600814961,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":35.59279144131044}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.9924276415818896,"debt":null},"share_of_market":{"collateral":0.0006749640411911164,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"fraxlend","name":"Fraxlend"}},"secured_view":{"share_of_market":{"collateral":0.0006749640411911164,"debt":null}}},"fraxlend_fraxtal":{"id":"fraxlend_fraxtal","level":"venue","name":"Fraxlend (Fraxtal)","deployment":"Fraxtal","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"fraxlend","metrics":{"collateral":{"eth":48.180021255543934,"usd":119925.6300732529,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"EZETH","family":"eth_lrt","native":8.213360164500012,"usd":22275.16013401856,"rate":1.0874978962084028,"rate_source":"Renzo RestakeManager calculateTVLs() / ezETH supply","rate_date":"2026-10-12","rate_series":"price.ezeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":8.932011899695663},{"token":"SFRXETH","family":"eth_lst","native":33.49926517733833,"usd":97650.46993923435,"rate":1.1716080680599186,"rate_source":"sfrxETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.sfrxeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":39.24800935584827}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.007572358418110475,"debt":null},"share_of_market":{"collateral":0.000005150067798483098,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"fraxlend","name":"Fraxlend"}},"secured_view":{"share_of_market":{"collateral":0.000005150067798483098,"debt":null}}},"gearbox_ethereum":{"id":"gearbox_ethereum","level":"venue","name":"Gearbox (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"gearbox","metrics":{"collateral":{"eth":6187.1657307026235,"usd":15276187.428095391,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":1831.7354154707737,"usd":4548217.353968086,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":1831.7354154707737},{"token":"WSTETH","family":"eth_lst","native":3495.0684350860643,"usd":10727970.074127305,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":4355.43031523185}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":0,"weight_usd":492241.17265753343,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.0007188199271131686,"debt":null},"share_of_market":{"collateral":0.0006613596707349562,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":-3.1627774278439786,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0006613596707349562,"debt":null}}},"hyperlend_pooled_hyperliquid_l1":{"id":"hyperlend_pooled_hyperliquid_l1","level":"venue","name":"HyperLend Pooled (Hyperliquid L1)","deployment":"Hyperliquid L1","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"hyperlend_pooled","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":7111873.594795605,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($7m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether-only accounts here owe $227,514 in dollars against ether whose custody on this chain does not count as ether collateral — stated, never in the ether book","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"the ether here is on a chain whose custody does not count as ether collateral","observer":null},"borrow":{"value":6.086074980279449,"weight_usd":66519387.28167634,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":4.491361226921131,"weight_usd":78697179.97670294,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":1.2447107914516433,"lend":1.3285837990771525,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"hypurrfi_pooled_hyperliquid_l1":{"id":"hypurrfi_pooled_hyperliquid_l1","level":"venue","name":"HypurrFi Pooled (Hyperliquid L1)","deployment":"Hyperliquid L1","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"hypurrfi_pooled","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":165464.65590362603,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($165,465) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":1.2430899741914903,"weight_usd":333246.7217971576,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":-1.9196874536524884,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"inverse_finance_firm_ethereum":{"id":"inverse_finance_firm_ethereum","level":"venue","name":"Inverse Finance FiRM (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"inverse_finance_firm","metrics":{"collateral":{"eth":670.3819017087015,"usd":1662307.7625380023,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"ST-YETH","family":"eth_lst","native":324.5576318079113,"usd":21243.139669381406,"rate":null,"rate_source":"st-yETH ERC-4626 convertToAssets()","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":null},{"token":"STETH","family":"eth_lst","native":5.0550485222512,"usd":12533.520538969617,"rate":1,"rate_source":"1:1 rebasing (Lido)","rate_date":"2026-10-12","rate_series":"price.steth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.steth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":5.0550485222512},{"token":"WETH","family":"eth_native","native":43.9771,"usd":109195.579071,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":43.9771},{"token":"WSTETH","family":"eth_lst","native":498.60972448938765,"usd":1540578.6629280327,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":621.3497531864504}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan; ST-YETH ($21,243) not in it: no contract rate is read for that token yet","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.00007788442894506282,"debt":null},"share_of_market":{"collateral":0.00007165858699737653,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.00007165858699737653,"debt":null}}},"justlend_v1_tron":{"id":"justlend_v1_tron","level":"venue","name":"JustLend v1 (Tron)","deployment":"Tron","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"justlend_v1","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":1204618179.3447552,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($1.20bn) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":3.7669337511086938,"weight_usd":138341341.06499472,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":0.7440690323899224,"weight_usd":635855766.4006991,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.0744304377191116,"lend":-2.4187083954540562,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"kamino_lend_solana":{"id":"kamino_lend_solana","level":"venue","name":"Kamino Lend (Solana)","deployment":"Solana","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"kamino_lend","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":3184213.537270753,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($3m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":5.672267348172345,"weight_usd":711062744.4071445,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.454891214091536,"weight_usd":1019676201.8164171,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":0.8309031593445395,"lend":0.29211378624755735,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"kinetic_flare":{"id":"kinetic_flare","level":"venue","name":"Kinetic (Flare)","deployment":"Flare","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"kinetic","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":1930372.4820529188,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($2m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar loan against ether is read at this venue","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether markets","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"kinza_finance_bsc":{"id":"kinza_finance_bsc","level":"venue","name":"Kinza Finance (BSC)","deployment":"BSC","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"kinza_finance","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":310934,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($310,934) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":3.378726210016727,"weight_usd":824607.3333333334,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":1.9411479512048144,"weight_usd":1215936.9,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.4626379788110784,"lend":-1.2216294766391642,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"layerbank_move":{"id":"layerbank_move","level":"venue","name":"LayerBank (Movement)","deployment":"Movement","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"layerbank","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"liquity_v1_ethereum":{"id":"liquity_v1_ethereum","level":"venue","name":"Liquity v1 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_cdp","status":"registered","class_id":"minted","family_id":"liquity_v1","metrics":{"collateral":{"eth":72001.21954003103,"usd":178779748.13009247,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"ETH","family":"eth_native","native":72001.21954003103,"usd":178779748.13009247,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":72001.21954003103}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":26002108.26548869,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.14719461362624475,"debt_usd":26002108.26548869,"collateral_usd":176651221.29749265,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"the CDP's liquidation ratio is not carried on its direct-read rows","observer":null},"books":{},"ltv_all":{"value":0.14719461362624475,"debt_usd":26002108.26548869,"collateral_usd":176651221.29749265,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 1 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":26002108.26548869,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":26002108.26548869,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":26002108.26548869,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.0962805051709142,"debt":0.05346369913504591},"share_of_market":{"collateral":0.007696367758699518,"debt":0.005820376852065429},"vs_parent":{"ltv":-0.12016947533360856,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.007696367758699518,"debt":0.005820376852065429}}},"liquity_v2_ethereum":{"id":"liquity_v2_ethereum","level":"venue","name":"Liquity v2 (Ethereum)","deployment":"Ethereum","venue_type":"onchain_cdp","status":"registered","class_id":"minted","family_id":"liquity_v2","metrics":{"collateral":{"eth":39293.048833130364,"usd":97432719.2024899,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"RETH","family":"eth_lst","native":5650.730439119966,"usd":16414179.068069402,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z","eth":6632.030320032563},{"token":"WETH","family":"eth_native","native":10710.949834982868,"usd":26595395.549760815,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":10710.949834982868},{"token":"WSTETH","family":"eth_lst","native":17614.101623106097,"usd":54423144.58465968,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":21950.068678114938}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":38214217.230096675,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.3963989069008512,"debt_usd":38214217.230096675,"collateral_usd":96403437.45865817,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":3.38412325534216,"weight_usd":38214217.230096675,"low":2.4919199531176757,"high":8.060833712514214,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg","observer":null},"liquidation":{"eth_price":1138.831322109132,"debt_usd":38214217.230096675,"headroom_pct":0.5358240750333988,"eth_price_ref":2453.447628054114,"threshold_low":0.8333333333333334,"threshold_high":0.9090909090909091,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{},"ltv_all":{"value":0.3963989069008512,"debt_usd":38214217.230096675,"collateral_usd":96403437.45865817,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 3 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":38214217.230096675,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":38214217.230096675,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":38214217.230096675,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.052542923793892755,"debt":0.07857337535136895},"share_of_market":{"collateral":0.004200119888416266,"debt":0.008553965821343153},"vs_parent":{"ltv":0.12903481794099791,"borrow":-5.540604530207501,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.004200119888416266,"debt":0.008553965821343153}}},"lista_cdp_bsc":{"id":"lista_cdp_bsc","level":"venue","name":"Lista CDP (BSC)","deployment":"BSC","venue_type":"onchain_cdp","status":"ingesting","class_id":"algorithmic","family_id":"lista_cdp","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":796428.1923586164,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($796,428) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar loan against ether is read at this venue","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether markets","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"moonwell_lending_base":{"id":"moonwell_lending_base","level":"venue","name":"Moonwell Lending (Base)","deployment":"Base","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"moonwell_lending","metrics":{"collateral":{"eth":3121.947634558668,"usd":7763802.158229412,"low":null,"high":null,"uncounted_usd":157253.5572084444,"parts":[{"token":"ETH","family":"eth_native","native":1721.614619107662,"usd":4281589.619880845,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":1721.614619107662},{"token":"RETH","family":"eth_lst","native":488.25058177552353,"usd":1425127.6925129374,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z","eth":573.0396622163249},{"token":"WRSETH","family":"eth_lrt","native":18.74685012569692,"usd":50445.49946229291,"rate":1.0819944221775744,"rate_source":"Kelp rsETH rate, bridged wrapper","rate_date":"2026-10-12","rate_series":"price.wrseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":20.283987269403028},{"token":"WSTETH","family":"eth_lst","native":647.594556142937,"usd":2006639.3463733364,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":807.0093659652782}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":16.197515082585255,"weight_usd":8286114.485042933,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":14.694085270433408,"weight_usd":8286114.490826833,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.946680938528241,"debt":null},"share_of_market":{"collateral":0.000333711807556353,"debt":null},"vs_parent":{"ltv":null,"borrow":0,"lend":0,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"moonwell_lending","name":"Moonwell Lending"}},"secured_view":{"share_of_market":{"collateral":0.000333711807556353,"debt":null}}},"moonwell_lending_moonbeam":{"id":"moonwell_lending_moonbeam","level":"venue","name":"Moonwell Lending (Moonbeam)","deployment":"Moonbeam","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"moonwell_lending","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":22397.11333964608,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($22,397) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"moonwell_lending","name":"Moonwell Lending"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"moonwell_lending_optimism":{"id":"moonwell_lending_optimism","level":"venue","name":"Moonwell Lending (Optimism)","deployment":"Optimism","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"moonwell_lending","metrics":{"collateral":{"eth":175.83465670855526,"usd":438105.99151655374,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"ETH","family":"eth_native","native":108.5001905237941,"usd":270347.7547243273,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":108.5001905237941},{"token":"RETH","family":"eth_lst","native":12.92540284098911,"usd":37798.82210109422,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z","eth":15.170014649190191},{"token":"WEETH","family":"eth_lrt","native":7.068570227174323,"usd":19470.07304459673,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":7.815209943830431},{"token":"WSTETH","family":"eth_lst","native":35.58859244406191,"usd":110489.34164653548,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":44.34924159174053}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.05331906147175897,"debt":null},"share_of_market":{"collateral":0.00001879535084820786,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"moonwell_lending","name":"Moonwell Lending"}},"secured_view":{"share_of_market":{"collateral":0.00001879535084820786,"debt":null}}},"morpho_blue_arbitrum":{"id":"morpho_blue_arbitrum","level":"venue","name":"Morpho Blue (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"eth":1105.7366773771203,"usd":2756066.1768781254,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WEETH","family":"eth_lrt","native":12.280341651233119,"usd":33882.66032801172,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":13.577490935492577},{"token":"WETH","family":"eth_native","native":173.70920040667207,"usd":432945.8265749515,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":173.70920040667207},{"token":"WSTETH","family":"eth_lst","native":737.0214474950524,"usd":2289237.689975162,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":918.4499860349556}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":1273579.5378819997,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.4694588877989895,"debt_usd":1273579.5378819997,"collateral_usd":2712867.0283633326,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":3.338478745258823,"weight_usd":1273579.5378819997,"low":2.9796947563823997,"high":3.3905436199344,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":3.0358176568704027,"weight_usd":1142986.391938684,"low":3.0358176568704027,"high":3.0358176568704027,"kind":"exact","limitation":"every loan currency of the venue's ether markets","absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed"},"liquidation":{"eth_price":1339.2939473713407,"debt_usd":1273579.5378819997,"headroom_pct":0.4541175723267565,"eth_price_ref":2453.447628054114,"threshold_low":0.86,"threshold_high":0.86,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{},"ltv_all":{"value":0.4694588877989895,"debt_usd":1273579.5378819997,"collateral_usd":2712867.0283633326,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 5 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":1273579.5378819997,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1273579.5378819997,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1273579.5378819997,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.002229743365030016,"debt":0.0027306959380554658},"share_of_market":{"collateral":0.00011819461069885555,"debt":0.00028508122440944927},"vs_parent":{"ltv":0.024944716575723946,"borrow":-0.9311500870487386,"lend":-0.66544071625591,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.00011819461069885555,"debt":0.00028508122440944927}}},"morpho_blue_base":{"id":"morpho_blue_base","level":"venue","name":"Morpho Blue (Base)","deployment":"Base","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"eth":109345.49780591413,"usd":271767058.2387944,"low":null,"high":null,"uncounted_usd":2093608.9400120738,"parts":[{"token":"CBETH","family":"eth_lst","native":17790.580649576143,"usd":50416723.889659196,"rate":1.1414989695362268,"rate_source":"cbETH.exchangeRate()","rate_date":"2026-10-12","rate_series":"price.cbeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.cbeth_vs_eth","peg_value":1.000051097487203,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":20307.929478942304},{"token":"RETH","family":"eth_lst","native":115.70754854502214,"usd":335535.35318829044,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z","eth":135.80119923871933},{"token":"SUPEROETHB","family":"eth_lst","native":375.3660015914613,"usd":933658.8922341424,"rate":1,"rate_source":"1:1 rebasing (Origin, Base)","rate_date":"2026-10-12","rate_series":"price.superoethb_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":375.3660015914613},{"token":"WETH","family":"eth_native","native":81431.19284151241,"usd":202546613.99286592,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":81431.19284151241},{"token":"WSTETH","family":"eth_lst","native":5511.076496659526,"usd":16976364.29027833,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":6867.7080546268535},{"token":"WSUPEROETHB","family":"eth_lst","native":100.48475591333431,"usd":273721.7049939448,"rate":1.1102793507309796,"rate_source":"wsuperOETHb ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.wsuperoethb_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":111.56614955381778},{"token":"YOETH","family":"eth_lst","native":106.07806853609985,"usd":284440.11557455076,"rate":1.0929128145758054,"rate_source":"yoETH ERC-4626 convertToAssets()","rate_date":"2026-10-12","rate_series":"price.yoeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":115.93408044855407}],"kind":"exact","limitation":"$2m of ether in tokens or on chains that do not count (custody) is stated beside it, never added","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":112887252.85039797,"low":null,"high":null,"kind":"exact","limitation":"dollar loans only: 12 market(s) lending in other currencies are in their own books","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.4593641831097513,"debt_usd":112887252.85039797,"collateral_usd":245746745.17762077,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":5.106305285626725,"weight_usd":112887252.85039797,"low":3.507275640816,"high":5.975065418184,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":4.611437664202908,"weight_usd":125182870.638523,"low":3.010915947883258,"high":5.42920400718838,"kind":"exact","limitation":"every loan currency of the venue's ether markets","absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed"},"liquidation":{"eth_price":1330.451775743133,"debt_usd":112887252.85039797,"headroom_pct":0.4577215504704516,"eth_price_ref":2453.447628054114,"threshold_low":0.77,"threshold_high":0.86,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{"chf":{"debt":169239.3292258893,"collateral_eth":159.31712045586892,"ltv":null,"borrow_rate":2.0649558260592,"asset":"VCHF","kind":"exact","limitation":"CHF lent against ether in 1 market(s), in the loan asset's own units (VCHF); a separate book, never added to another currency; its LTV converts both sides at the day's rates in /v1/market/tree","ltv_debt":169239.3292258893,"ltv_collateral_eth":159.31712045586892,"venue_priced":null},"eth":{"debt":6168.223710932654,"collateral_eth":6992.554407019453,"ltv":0.8821130808422031,"borrow_rate":1.6816377849378652,"asset":"WETH","kind":"exact","limitation":"ether lent against ether in 7 market(s) (WETH), in ETH at each token's contract rate — leverage on staking yield: a separate book, outside the headline, never added to another currency","ltv_debt":6168.223710932654,"ltv_collateral_eth":6992.554407019453,"venue_priced":null},"eur":{"debt":1575083.6139200001,"collateral_eth":2029.7824011076195,"ltv":null,"borrow_rate":3.6983551146875535,"asset":"EURC","kind":"exact","limitation":"EUR lent against ether in 4 market(s), in the loan asset's own units (EURC); a separate book, never added to another currency; its LTV converts both sides at the day's rates in /v1/market/tree","ltv_debt":1575083.6139200001,"ltv_collateral_eth":2029.7824011076195,"venue_priced":null}},"ltv_all":{"value":0.4845274159967749,"debt_usd":129985842.5896894,"collateral_usd":268273452.23031634,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 18 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"CHF: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null}},"share_of_parent":{"collateral":0.2204977036729759,"debt":0.24204280427547445},"share_of_market":{"collateral":0.011688179300969987,"debt":0.02526896460375786},"vs_parent":{"ltv":0.01485001188648577,"borrow":0.8366764533191633,"lend":0.9101792910765956,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.011688179300969987,"debt":0.02526896460375786}}},"morpho_blue_ethereum":{"id":"morpho_blue_ethereum","level":"venue","name":"Morpho Blue (Ethereum)","deployment":"Ethereum","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"eth":384066.1420347424,"usd":952910710.1649663,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"EZETH","family":"eth_lrt","native":25.368238384279586,"usd":67686.78954077915,"rate":1.0874978962084028,"rate_source":"Renzo RestakeManager calculateTVLs() / ezETH supply","rate_date":"2026-10-12","rate_series":"price.ezeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":27.5879058734173},{"token":"LSETH","family":"eth_lst","native":255.42374420943247,"usd":706534.1312318145,"rate":1.1193131999134154,"rate_source":"lsETH.underlyingBalanceFromShares()","rate_date":"2026-10-12","rate_series":"price.lseth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":285.89916846492554},{"token":"OETH","family":"eth_lst","native":8849.174795043491,"usd":21976032.273056835,"rate":1,"rate_source":"1:1 rebasing (Origin)","rate_date":"2026-10-12","rate_series":"price.oeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":null,"peg_value":null,"peg_vintage":null,"eth":8849.174795043491},{"token":"RETH","family":"eth_lst","native":3260.8653427867484,"usd":9474149.75187378,"rate":1.1736589440046663,"rate_source":"rETH.getExchangeRate()","rate_date":"2026-10-12","rate_series":"price.reth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.reth_vs_eth","peg_value":0.9968500048715586,"peg_vintage":"reference_price@2026-10-12T10:24:00.613Z","eth":3827.143774756509},{"token":"WEETH","family":"eth_lrt","native":97587.61243478472,"usd":267957782.26452592,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":107895.6075392743},{"token":"WETH","family":"eth_native","native":6951.90968937546,"usd":17322374.91646069,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":6951.90968937546},{"token":"WSTETH","family":"eth_lst","native":205613.95618716272,"usd":635406150.0382764,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":256228.8191619543}],"kind":"exact","limitation":"$4m of synthetic ether (SAVETH) is not ether collateral: stated beside it, never added","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":4374551.262258863,"synthetic_excluded":[{"token":"SAVETH","native":1681.3748757076876,"usd":4374551.262258863}]},"debt":{"usd":352171651.0166832,"low":null,"high":null,"kind":"exact","limitation":"dollar loans only: 12 market(s) lending in other currencies are in their own books","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.43988418387674055,"debt_usd":352171651.0166832,"collateral_usd":800600848.8710856,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":4.00423366193477,"weight_usd":352171651.0166832,"low":3.0054507026976,"high":14.527468790582402,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":3.421494515488977,"weight_usd":409472432.56310934,"low":2.449439740790018,"high":6.440044537273577,"kind":"exact","limitation":"every loan currency of the venue's ether markets","absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed"},"liquidation":{"eth_price":1255.0383610206384,"debt_usd":352171651.0166832,"headroom_pct":0.4884592820854145,"eth_price_ref":2453.447628054114,"threshold_low":0.77,"threshold_high":0.86,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{"eth":{"debt":43308.54932973509,"collateral_eth":48564.77276376815,"ltv":0.8917688041165,"borrow_rate":1.827687152298675,"asset":"WETH","kind":"exact","limitation":"ether lent against ether in 8 market(s) (WETH), in ETH at each token's contract rate — leverage on staking yield: a separate book, outside the headline, never added to another currency","ltv_debt":43308.54932973509,"ltv_collateral_eth":48564.77276376815,"venue_priced":null},"eur":{"debt":9914143.612173555,"collateral_eth":9184.70380945756,"ltv":null,"borrow_rate":2.046334995086424,"asset":"mixed","kind":"exact","limitation":"EUR lent against ether in 4 market(s), in the loan asset's own units (EURC, EURCV); a separate book, never added to another currency; its LTV converts both sides at the day's rates in /v1/market/tree","ltv_debt":9914143.612173555,"ltv_collateral_eth":9184.70380945756,"venue_priced":null}},"ltv_all":{"value":0.4982689229250988,"debt_usd":469511912.61695766,"collateral_usd":942286165.1910329,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 33 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":null,"absent_kind":"not_converted","absent_because":"EUR: the last H.10 rate is 2026-10-02, more than 10 days before 2026-10-13","parts":null}},"share_of_parent":{"collateral":0.7744781822431772,"debt":0.7550951223108026},"share_of_market":{"collateral":0.04105366953015123,"debt":0.07883098188048573},"vs_parent":{"ltv":-0.0046299873465249775,"borrow":-0.26539517037279126,"lend":-0.2797638576373358,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.04105366953015123,"debt":0.07883098188048573}}},"morpho_blue_hyperliquid_l1":{"id":"morpho_blue_hyperliquid_l1","level":"venue","name":"Morpho Blue (Hyperliquid L1)","deployment":"Hyperliquid L1","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":184270.65613763992,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($184,271) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar loan against ether is read at this venue","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether markets","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"morpho_blue_katana":{"id":"morpho_blue_katana","level":"venue","name":"Morpho Blue (Katana)","deployment":"Katana","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":11463495.232712079,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($11m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar loan against ether is read at this venue","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":4.182319223623452,"weight_usd":2863090.104285476,"low":1.8744721356240088,"high":4.818640559932798,"kind":"exact","limitation":"every loan currency of the venue's ether markets","absent_kind":null,"absent_because":null,"observer":"credit_venue_api_market_rates_publishable — the venue's own API, gate-passed"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether markets","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":0.4810608504971392,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"morpho_blue_monad":{"id":"morpho_blue_monad","level":"venue","name":"Morpho Blue (Monad)","deployment":"Monad","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"eth":22.516888630855544,"usd":56058.220697237884,"low":null,"high":null,"uncounted_usd":28698047.211231112,"parts":[{"token":"WETH","family":"eth_native","native":22.516888630855544,"usd":56058.220697237884,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":22.516888630855544}],"kind":"exact","limitation":"$29m of ether in tokens or on chains that do not count (custody) is stated beside it, never added","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":24925.032812,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.4511807554230811,"debt_usd":24925.032812,"collateral_usd":55244.00700253118,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":2.784564786425208,"weight_usd":24925.032812,"low":1.5032664428832,"high":8.1743187414384,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":1287.1492490888625,"debt_usd":24925.032812,"headroom_pct":0.47537121462432425,"eth_price_ref":2453.447628054114,"threshold_low":0.86,"threshold_high":0.86,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{},"ltv_all":{"value":0.4511807554230811,"debt_usd":24925.032812,"collateral_usd":55244.00700253118,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 3 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":24925.032812,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":24925.032812,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":24925.032812,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.00004540582224771992,"debt":0.00005344203783991211},"share_of_market":{"collateral":0.0000024068794499847945,"debt":0.0000055792815926577925},"vs_parent":{"ltv":0.006666584199815584,"borrow":-1.4850640458823534,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.0000024068794499847945,"debt":0.0000055792815926577925}}},"morpho_blue_optimism":{"id":"morpho_blue_optimism","level":"venue","name":"Morpho Blue (Optimism)","deployment":"Optimism","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"eth":1074.2081683574795,"usd":2636409.4605976325,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":18.99597189744294,"usd":47338.14041282039,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":18.99597189744294},{"token":"WSTETH","family":"eth_lst","native":846.7679593604025,"usd":2589071.320184812,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":1055.2121964600365}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":16030.240911,"low":null,"high":null,"kind":"exact","limitation":"dollar loans only: 1 market(s) lending in other currencies are in their own books","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.2807584071228956,"debt_usd":16030.240911,"collateral_usd":57096.20978146926,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":5.823708112111987,"weight_usd":16030.240911,"low":3.6013931803296,"high":5.9487694147152,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":800.9605209440924,"debt_usd":16030.240911,"headroom_pct":0.6735367359036097,"eth_price_ref":2453.447628054114,"threshold_low":0.86,"threshold_high":0.86,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{"eth":{"debt":932.7761684290024,"collateral_eth":1050.9363409385448,"ltv":0.8875667650773035,"borrow_rate":1.2923779008384,"asset":"WETH","kind":"exact","limitation":"ether lent against ether in 1 market(s) (WETH), in ETH at each token's contract rate — leverage on staking yield: a separate book, outside the headline, never added to another currency","ltv_debt":932.7761684290024,"ltv_collateral_eth":1050.9363409385448,"venue_priced":null}},"ltv_all":{"value":0.8744207661930513,"debt_usd":2304547.7188485404,"collateral_usd":2635513.482693012,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 3 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":2304547.7188485404,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":16030.240911,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":16030.240911,"share":0.00695591624330064},{"currency":"eth","basis":"native","native":932.7761684290024,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":2288517.4779375405,"share":0.9930440837566994}],"limitation":"all debt secured by ether here in 2 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.0021661654036273154,"debt":0.000034370616392373284},"share_of_market":{"collateral":0.0001148244594451852,"debt":0.0000035882491595980242},"vs_parent":{"ltv":-0.1637557641003699,"borrow":1.5540792798044256,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.0001148244594451852,"debt":0.0000035882491595980242}}},"morpho_blue_robinhood_chain":{"id":"morpho_blue_robinhood_chain","level":"venue","name":"Morpho Blue (Robinhood Chain)","deployment":"Robinhood Chain","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar loan against ether is read at this venue","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether markets","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"morpho_blue_unichain":{"id":"morpho_blue_unichain","level":"venue","name":"Morpho Blue (Unichain)","deployment":"Unichain","venue_type":"onchain_isolated","status":"ingesting","class_id":"algorithmic","family_id":"morpho_blue","metrics":{"collateral":{"eth":289.0120831882055,"usd":709794.5749692621,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":19.78631566295434,"usd":49263.25445162828,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":19.78631566295434},{"token":"WSTETH","family":"eth_lst","native":216.0435166873367,"usd":660531.3205176338,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":269.2257675252512}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":20318.360744,"low":null,"high":null,"kind":"exact","limitation":"dollar loans only: 1 market(s) lending in other currencies are in their own books","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.4185496099733818,"debt_usd":20318.360744,"collateral_usd":48544.68923120529,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":14.730398147649598,"weight_usd":20318.360744,"low":14.7303981476496,"high":14.7303981476496,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":1194.0576137350793,"debt_usd":20318.360744,"headroom_pct":0.5133144070076956,"eth_price_ref":2453.447628054114,"threshold_low":0.86,"threshold_high":0.86,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{"eth":{"debt":256.7705763653136,"collateral_eth":269.2257675252512,"ltv":0.9537370019429163,"borrow_rate":6.1856744598144,"asset":"WETH","kind":"exact","limitation":"ether lent against ether in 1 market(s) (WETH), in ETH at each token's contract rate — leverage on staking yield: a separate book, outside the headline, never added to another currency","ltv_debt":256.7705763653136,"ltv_collateral_eth":269.2257675252512,"venue_priced":null}},"ltv_all":{"value":0.9170970574827165,"debt_usd":650291.5222815664,"collateral_usd":709076.0099770811,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 2 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":650291.5222815664,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":20318.360744,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":20318.360744,"share":0.03124500327593454},{"currency":"eth","basis":"native","native":256.7705763653136,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":629973.1615375665,"share":0.9687549967240655}],"limitation":"all debt secured by ether here in 2 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.0005827994929416805,"debt":0.000043564821435382623},"share_of_market":{"collateral":0.000030893133382103394,"debt":0.000004548112612208981},"vs_parent":{"ltv":-0.025964561249883722,"borrow":10.460769315342038,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"family","id":"morpho_blue","name":"Morpho Blue"}},"secured_view":{"share_of_market":{"collateral":0.000030893133382103394,"debt":0.000004548112612208981}}},"navi_lending_sui":{"id":"navi_lending_sui","level":"venue","name":"NAVI Lending (Sui)","deployment":"Sui","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"navi_lending","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":1899354.5081950983,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($2m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":6.995471796681981,"weight_usd":32811876.326048035,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.9945589478317247,"weight_usd":62253436.667931825,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":2.1541076078541757,"lend":-0.16821848001225392,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"neverland_monad":{"id":"neverland_monad","level":"venue","name":"Neverland (Monad)","deployment":"Monad","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"neverland","metrics":{"collateral":{"eth":213.68378252412754,"usd":532086.1446685113,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":213.68378252412754,"usd":532086.1446685113,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":213.68378252412754}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":6.854302976978248,"weight_usd":5840363.270279217,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.547191633132062,"weight_usd":7805005.792864706,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0.00002482560960296379,"debt":null},"share_of_market":{"collateral":0.000022841126648713232,"debt":null},"vs_parent":{"ltv":null,"borrow":2.012938788150443,"lend":0.38441420528808345,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.000022841126648713232,"debt":null}}},"save_solana":{"id":"save_solana","level":"venue","name":"Save (Solana)","deployment":"Solana","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"save","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":344535.060768214,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($344,535) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":5.004995207405373,"weight_usd":20510650.416574936,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.963742403714154,"weight_usd":28458939.46338342,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":0.16363101857756757,"lend":-0.19903502412982466,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"scallop_lend_sui":{"id":"scallop_lend_sui","level":"venue","name":"Scallop Lend (Sui)","deployment":"Sui","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"scallop_lend","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":null,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no ether-family reserve or market of this venue appeared in the latest direct read","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":7.569497782597737,"weight_usd":858331.424622657,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.3416310494759447,"weight_usd":1589221.727166423,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":2.7281335937699316,"lend":0.17885362163196605,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"sky_ethereum":{"id":"sky_ethereum","level":"venue","name":"Sky (Ethereum)","deployment":"Ethereum","venue_type":"onchain_cdp","status":"ingesting","class_id":"minted","family_id":"sky","metrics":{"collateral":{"eth":602224.6165692362,"usd":1478985455.1554203,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":565934.4870076545,"usd":1389710306.3850842,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":565934.4870076545},{"token":"WSTETH","family":"eth_lst","native":29121.459225806873,"usd":89275148.77033621,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":36290.12956158159}],"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":388198574.2127018,"low":null,"high":null,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"ltv":{"value":0.26273542925720555,"debt_usd":388198574.2127018,"collateral_usd":1477526557.0775907,"kind":"converted","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"borrow":{"value":9.939279561501587,"weight_usd":388198574.2127018,"low":9.758032833886402,"high":10.885440491208207,"kind":"exact","limitation":null,"absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block"},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"a CDP mints the loan it makes: no depositor lends it, so there is no lend leg","observer":null},"liquidation":{"eth_price":1011.3949949397398,"debt_usd":388198574.2127018,"headroom_pct":0.5877658102928814,"eth_price_ref":2453.447628054114,"threshold_low":0.5714285714285714,"threshold_high":0.7692307692307692,"kind":"derived","limitation":null,"absent_kind":null,"absent_because":null,"observer":null},"books":{},"ltv_all":{"value":0.26273542925720555,"debt_usd":388198574.2127018,"collateral_usd":1477526557.0775907,"kind":"converted","limitation":"every loan currency's debt over the ether securing it in 5 market(s): debt at the venue's own USD valuation, ether at the contract rates and the day's ETH fixing","absent_kind":null,"absent_because":null},"debt_all":{"usd":388198574.2127018,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":388198574.2127018,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":388198574.2127018,"share":1}],"limitation":"all debt secured by ether here in 1 loan currency, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.8052987252168587,"debt":0.79818649951197},"share_of_market":{"collateral":0.06437310578998912,"debt":0.08689533834267142},"vs_parent":{"ltv":-0.004628659702647753,"borrow":1.0145517759519258,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"minted","name":"Minted"}},"secured_view":{"share_of_market":{"collateral":0.06437310578998912,"debt":0.08689533834267142}}},"spark_ethereum":{"id":"spark_ethereum","level":"venue","name":"SparkLend (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"spark","metrics":{"collateral":{"eth":2087072.0122448532,"usd":5179705654.684731,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WEETH","family":"eth_lrt","native":38075.76220487526,"usd":104479218.7188741,"rate":1.1056281104466834,"rate_source":"weETH.getRate()","rate_date":"2026-10-12","rate_series":"price.weeth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.weeth_vs_eth","peg_value":0.9998813931480433,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":42097.63302039348},{"token":"WETH","family":"eth_native","native":642260.9106935853,"usd":1593965961.5575736,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":642260.9106935853},{"token":"WSTETH","family":"eth_lst","native":1125624.6139875099,"usd":3481260474.4082828,"rate":1.2461645304306035,"rate_source":"wstETH.stEthPerToken()","rate_date":"2026-10-12","rate_series":"price.wsteth_rate_eth","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","peg_series":"price.wsteth_vs_eth","peg_value":0.9998185636521031,"peg_vintage":"reference_price@2026-10-13T01:00:01.083Z","eth":1402713.4685308745}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":1053176492.3727697,"low":null,"high":null,"kind":"partial","limitation":"ether-only borrowers only: $195m more is owed in dollars by 159 accounts posting bitcoin and ether, and $26,524 by 15 posting ether among other collateral — bounds, never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"ltv":{"value":0.2245204684631491,"debt_usd":1053176492.3727697,"collateral_usd":4690781644.906594,"kind":"partial","limitation":"the ether-only borrowers' dollar LTV, not the pool's: accounts posting ether among other collateral are not in it; the same ether also secures their other debt (ether lent against ether, books.eth), so ltv_all is the whole load on it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"borrow":{"value":4.102359717793989,"weight_usd":1490701555.31482,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.6151025417448444,"weight_usd":2110809684.013298,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{"eth":{"debt":505557.330140104,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"ether borrowed by the accounts whose only collateral is ether, in ETH at the pool's oracle — leverage on staking yield; its LTV is not served because the same collateral also secures those accounts' dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"btc":{"debt":198.30166832999996,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"bitcoin borrowed by the accounts whose only collateral is ether, in wrapper units; its LTV is not served because the same collateral also secures their dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"other":{"debt":null,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":null,"kind":null,"limitation":null,"ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":{"debt_usd":4375.898010717705,"limitation":"debt of ether-only accounts in neither dollars, ether nor bitcoin, at the pool's own oracle; the pool read does not split it by currency"}}},"ltv_all":{"value":0.5006707471680021,"debt_usd":2348537150.9573345,"collateral_usd":4690781644.906594,"kind":"partial","limitation":"all the debt (every currency, at the pool's own oracle) of the accounts whose only collateral is ether, over that ether","absent_kind":null,"absent_because":null},"debt_all":{"usd":2309747384.711795,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1053176492.3727697,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1053176492.3727697,"share":0.4559704231483231},{"currency":"eth","basis":"native","native":505557.330140104,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":1240358432.4776087,"share":0.5370104283643893},{"currency":"btc","basis":"native","native":198.30166832999996,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":16208083.963405812,"share":0.007017253951963331},{"currency":"other","basis":"venue_priced","native":null,"unit":"USD","usd_per_unit":null,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":4375.898010717705,"share":0.0000018945353243743232}],"limitation":"all debt secured by ether here in 4 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.2424743439919802,"debt":0.2645456747146111},"share_of_market":{"collateral":0.22309168994276304,"debt":0.23574565626595065},"vs_parent":{"ltv":-0.003264515784836275,"borrow":-0.7390044710338168,"lend":-0.5476748860991343,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.22309168994276304,"debt":0.23574565626595065}}},"tectonic_cronos":{"id":"tectonic_cronos","level":"venue","name":"Tectonic (Cronos)","deployment":"Cronos","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"tectonic","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":4520510.708627332,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($5m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":3.0702376618515546,"weight_usd":6424455.443609091,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":2.2006173789685555,"weight_usd":8048313.202838765,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-1.7711265269762508,"lend":-0.9621600488754232,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}},"tender_finance_arbitrum":{"id":"tender_finance_arbitrum","level":"venue","name":"Tender Finance (Arbitrum)","deployment":"Arbitrum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"tender_finance","metrics":{"collateral":{"eth":0,"usd":375086,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"ETH","family":"eth_native","native":0,"usd":375086,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":0}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":0,"debt":null},"share_of_market":{"collateral":0,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0,"debt":null}}},"tydro_ink":{"id":"tydro_ink","level":"venue","name":"Tydro (Ink)","deployment":"Ink","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"tydro","metrics":{"collateral":{"eth":5234.055925752671,"usd":13021294.16216793,"low":null,"high":null,"uncounted_usd":11473.469433419647,"parts":[{"token":"WETH","family":"eth_native","native":5234.055925752671,"usd":13021294.16216793,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":5234.055925752671}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":1815213.1438734103,"low":null,"high":null,"kind":"partial","limitation":"ether-only borrowers only: $433,000 more is owed in dollars by 106 accounts posting bitcoin and ether, and $89,614 by 168 posting ether among other collateral — bounds, never apportioned","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"ltv":{"value":0.32820182965125155,"debt_usd":1815213.1438734103,"collateral_usd":5530783.133665837,"kind":"partial","limitation":"the ether-only borrowers' dollar LTV, not the pool's: accounts posting ether among other collateral are not in it; the same ether also secures their other debt (ether lent against ether, books.eth), so ltv_all is the whole load on it","absent_kind":null,"absent_because":null,"observer":"contract_read — the pool's own contracts, account by account (218)"},"borrow":{"value":5.921405437793012,"weight_usd":54900625.63923343,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.969414993536372,"weight_usd":78973825.00211969,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{"eth":{"debt":20.09227760484394,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"ether borrowed by the accounts whose only collateral is ether, in ETH at the pool's oracle — leverage on staking yield; its LTV is not served because the same collateral also secures those accounts' dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null},"btc":{"debt":0.34318230999999966,"collateral_eth":null,"ltv":null,"borrow_rate":null,"asset":"mixed","kind":"partial","limitation":"bitcoin borrowed by the accounts whose only collateral is ether, in wrapper units; its LTV is not served because the same collateral also secures their dollar debt","ltv_debt":null,"ltv_collateral_eth":null,"venue_priced":null}},"ltv_all":{"value":0.34257599920886284,"debt_usd":1894713.5584230998,"collateral_usd":5530783.133665837,"kind":"partial","limitation":"all the debt (every currency, at the pool's own oracle) of the accounts whose only collateral is ether, over that ether","absent_kind":null,"absent_because":null},"debt_all":{"usd":1892558.3227378265,"kind":"converted","parts":[{"currency":"usd","basis":"usd","native":1815213.1438734103,"unit":"USD","usd_per_unit":1,"rate_series":null,"rate_vintage":null,"rate_date":null,"carried_forward":false,"usd":1815213.1438734103,"share":0.9591319443447711},{"currency":"eth","basis":"native","native":20.09227760484394,"unit":"ETH","usd_per_unit":2453.447628054114,"rate_series":"price.eth_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":49295.350831809155,"share":0.026046938812695163},{"currency":"btc","basis":"native","native":0.34318230999999966,"unit":"BTC","usd_per_unit":81734.48110599573,"rate_series":"price.btc_in_basket","rate_vintage":"reference_price@2026-10-13T01:00:01.083Z","rate_date":"2026-10-12","carried_forward":true,"usd":28049.82803260694,"share":0.014821116842533705}],"limitation":"all debt secured by ether here in 3 loan currencies, converted at the day's rates and summed: USD = the on-chain basket dollar for BTC and ETH parts; H.10 noon New York for fiat parts. Parts the venues report only in dollars are taken at their own valuation. Rates are never summed across currencies; never summed with debt secured by bitcoin"}},"share_of_parent":{"collateral":0.0006080883982767544,"debt":0.00045596041060025247},"share_of_market":{"collateral":0.0005594796800878695,"debt":0.0004063218434556097},"vs_parent":{"ltv":0.10041684540326618,"borrow":1.0800412489652063,"lend":0.8066375656923932,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":0.0005594796800878695,"debt":0.0004063218434556097}}},"uwu_lend_ethereum":{"id":"uwu_lend_ethereum","level":"venue","name":"UwU Lend (Ethereum)","deployment":"Ethereum","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"uwu_lend","metrics":{"collateral":{"eth":8.158447945038457,"usd":20257.507832009942,"low":null,"high":null,"uncounted_usd":null,"parts":[{"token":"WETH","family":"eth_native","native":8.158447945038457,"usd":20257.507832009942,"rate":1,"rate_source":"native ether (1:1)","rate_date":null,"rate_series":null,"rate_vintage":null,"peg_series":null,"peg_value":null,"peg_vintage":null,"eth":8.158447945038457}],"kind":"partial","limitation":"the supplied amount of the venue's ether reserves — what is deposited, not what is pledged against a loan","absent_kind":null,"absent_because":null,"observer":"defi_rates_llama — the venue's own contracts, read per block","synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar borrow rate against ether is read at this venue","observer":null},"lend":{"value":null,"weight_usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no dollar lend rate against ether is read at this venue","observer":null},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":9.478419057223391e-7,"debt":null},"share_of_market":{"collateral":8.72074336050826e-7,"debt":null},"vs_parent":{"ltv":null,"borrow":null,"lend":null,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":8.72074336050826e-7,"debt":null}}},"venus_core_pool_bsc":{"id":"venus_core_pool_bsc","level":"venue","name":"Venus Core Pool (BSC)","deployment":"BSC","venue_type":"onchain_pooled","status":"ingesting","class_id":"algorithmic","family_id":"venus_core_pool","metrics":{"collateral":{"eth":null,"usd":null,"low":null,"high":null,"uncounted_usd":73397010.50595467,"parts":null,"kind":null,"limitation":null,"absent_kind":"not_applicable","absent_because":"its ether ($73m) is in tokens or on a chain whose custody does not count as ether collateral","observer":null,"synthetic_excluded_usd":null,"synthetic_excluded":null},"debt":{"usd":null,"low":null,"high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"this pool's accounts are not read one by one, which is what assigns debt to ether exactly","observer":null},"ltv":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's dollar debt and its ether collateral","observer":null},"borrow":{"value":4.756686513649951,"weight_usd":187435670.27373552,"low":null,"high":null,"kind":"exact","limitation":"the rate of the venue's dollar reserves: a pool prices a borrowed dollar the same against every collateral","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"lend":{"value":3.0655686303492744,"weight_usd":263291188.26340657,"low":null,"high":null,"kind":"exact","limitation":"the supply rate of the venue's dollar reserves: a pool lends a deposited dollar against every collateral at once, so no ether-specific lend rate exists there","absent_kind":null,"absent_because":null,"observer":"credit_venue_window (098) — aggregator_defillama"},"liquidation":{"eth_price":null,"debt_usd":null,"headroom_pct":null,"eth_price_ref":2453.447628054114,"threshold_low":null,"threshold_high":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no liquidation threshold is read for this venue's ether reserves","observer":null},"books":{},"ltv_all":{"value":null,"debt_usd":null,"collateral_usd":null,"kind":null,"limitation":null,"absent_kind":"not_read","absent_because":"no read carries both this venue's debt and its ether collateral"},"debt_all":{"usd":null,"absent_kind":"not_read","absent_because":"no debt against ether is read here","parts":null}},"share_of_parent":{"collateral":null,"debt":null},"share_of_market":{"collateral":null,"debt":null},"vs_parent":{"ltv":null,"borrow":-0.08467767517785418,"lend":-0.09720879749470424,"units":"ltv as a fraction; rates in percentage points","parent":{"level":"class","id":"algorithmic","name":"Algorithmic"}},"secured_view":{"share_of_market":{"collateral":null,"debt":null}}}}},"venues_eth_only":[{"venue_id":"aave_v3_celo","display_name":"Aave v3 (Celo)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":42220,"family_id":"aave_v3","deployment":"Celo","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. The venue holds no bitcoin, so it is in no figure. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/aave_chains.json). The addresses provider is the Aave address book's (AaveV3Celo.sol); the RPC reports chain id 42220, getMarketId() returns \"Aave V3 Celo Market\", and Pool.ADDRESSES_PROVIDER() points back at it. 6 reserves (USDC, USD₮, EURm, USDm, CELO, WETH) and none of them is a bitcoin representation: a resolved zero, not an unexamined gap. markets is left EMPTY on purpose: the loader cross-checks that list against the Phase 2 artefact the Aave ingester reads, and this deployment is not ingested. Its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (0): none"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 2406 of the aggregator's daily reserve rows (2025-08-26 to 2026-09-30) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":799353.5,"book_as_of":"2026-09-29","peak_book_usd_90d":961804.2333333333,"peak_on":"2026-09-21","days_seen":9},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"aave_v3_gnosis","display_name":"Aave v3 (Gnosis)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":100,"family_id":"aave_v3","deployment":"Gnosis","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"direct_events","status":"ingesting","first_block":30293057,"first_date":"2023-10-04","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Aave v3 Gnosis holds 9 reserves and none of them is a BTC representation. Resolved on-chain 2026-07-24 — a resolved zero, not an unexamined gap. The row exists so the matrix shows the question was asked and answered.","validated":false},"quantity":{"level":"none","reason":"No BTC reserve on this deployment. See price.","validated":false},"composition":{"level":"none","reason":"No BTC reserve on this deployment. See price.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Registered as a resolved zero. Re-check if Aave governance lists a BTC reserve on Gnosis; the addresses provider and pool below are live and correct.","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (0): none"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 7083 of the aggregator's daily reserve rows (2024-01-25 to 2026-09-30) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":14646585.9,"book_as_of":"2026-09-29","peak_book_usd_90d":16839177.166666668,"peak_on":"2026-09-21","days_seen":9},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"aave_v3_sonic","display_name":"Aave v3 (Sonic)","operator":"Aave DAO","venue_type":"onchain_pooled","chain_id":146,"family_id":"aave_v3","deployment":"Sonic","agent_access":{"state":"none_found","observed":[{"url":"https://mcp.aave.com/","server_name":"aave-mcp","tools_observed":40,"not_listed_because":"Criterion 2 unmet: no documentation of this endpoint by its operator could be found. A subdomain that responds is not an operator documenting a server. Converts to a listed route the day it is documented.","answered_initialize":"2026-08-30"}],"surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Observed through the aggregator (DefiLlama) until 2026-09-27; it has published no priced pool for this venue since, so nothing is observed now. As of 2026-10-01.","validated":false},"quantity":{"level":"none","reason":"Observed through the aggregator (DefiLlama) until 2026-09-27; nothing is observed now. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/aave_chains.json). The addresses provider is the Aave address book's (AaveV3Sonic.sol); the RPC reports chain id 146, getMarketId() returns \"Aave V3 Sonic Market\", and Pool.ADDRESSES_PROVIDER() points back at it. 4 reserves (WETH, USDC, wS, stS) and none of them is a bitcoin representation: a resolved zero, not an unexamined gap. markets is left EMPTY on purpose: the loader cross-checks that list against the Phase 2 artefact the Aave ingester reads, and this deployment is not ingested. Its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC reserves (0): none"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 2217 of the aggregator's daily reserve rows (2025-03-10 to 2026-09-27) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":1576515.6666666667,"book_as_of":"2026-09-27","peak_book_usd_90d":1637161.3333333333,"peak_on":"2026-09-21","days_seen":7},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"arcadia_v2_optimism","display_name":"Arcadia v2 (Optimism)","operator":null,"venue_type":"onchain_pooled","chain_id":10,"family_id":"arcadia_v2","deployment":"Optimism","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"registered","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Observed through the aggregator (DefiLlama) until 2026-09-22; it has published no priced pool for this venue since, so nothing is observed now. As of 2026-10-01.","validated":false},"quantity":{"level":"none","reason":"Observed through the aggregator (DefiLlama) until 2026-09-22; nothing is observed now. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 2 lending market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 98 of the aggregator's daily reserve rows (2026-07-27 to 2026-09-22) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-09-22","peak_book_usd_90d":0,"peak_on":"2026-09-22","days_seen":2},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"compound_v3_scroll","display_name":"Compound v3 (Scroll)","operator":"Compound DAO","venue_type":"onchain_pooled","chain_id":534352,"family_id":"compound_v3","deployment":"Scroll","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. The venue holds no bitcoin, so it is in no figure. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/comet.json). Compound's own deployments/scroll/*/roots.json records one Comet, the USDC-base 0xB2f97c1Bd3bf02f5e74d13f02E3e26F93D77CE44; it takes WETH and wstETH as collateral and no bitcoin representation: a resolved zero, not an unexamined gap. markets is left EMPTY on purpose: the loader cross-checks that list against the Phase 2 artefact and this deployment is not ingested.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC collateral (0): none"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 1630 of the aggregator's daily reserve rows (2024-07-06 to 2026-09-30) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-09-29","peak_book_usd_90d":0,"peak_on":"2026-09-29","days_seen":9},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"euler_v2_linea","display_name":"Euler v2 (Linea)","operator":"Euler DAO","venue_type":"onchain_pooled","chain_id":59144,"family_id":"euler_v2","deployment":"Linea","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. The venue holds no bitcoin, so it is in no figure. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/euler.json), roots from Euler's own registry (euler-interfaces, addresses/59144/CoreAddresses.json): the vault factory lists 88 vaults on Linea, 9 carrying debt, on an RPC reporting chain id 59144. ⚠ Euler v2 is not a pool: one vault per asset, each accepting other vaults' shares as collateral at its own LTV, under its own oracle, interest rate model and governor. venue_type onchain_pooled is the operator's typing (2026-09-21) and is not changed here. ⚠ 0 vault(s) with debt are fully drawn; those the aggregator lists stay in its feed at a TVL of 0. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (0): none"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 3011 of the aggregator's daily reserve rows (2025-09-16 to 2026-09-30) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-09-29","peak_book_usd_90d":0,"peak_on":"2026-09-29","days_seen":9},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"folks_finance_xchain_arbitrum","display_name":"Folks Finance xChain (Arbitrum)","operator":null,"venue_type":"onchain_pooled","chain_id":42161,"family_id":"folks_finance_xchain","deployment":"Arbitrum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. The venue holds no bitcoin, so it is in no figure. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 3 lending market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 2609 of the aggregator's daily reserve rows (2025-02-10 to 2026-09-30) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-09-29","peak_book_usd_90d":0,"peak_on":"2026-09-29","days_seen":9},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"folks_finance_xchain_polygon","display_name":"Folks Finance xChain (Polygon)","operator":null,"venue_type":"onchain_pooled","chain_id":137,"family_id":"folks_finance_xchain","deployment":"Polygon","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. The venue holds no bitcoin, so it is in no figure. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 4 lending market(s), $1M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 1957 of the aggregator's daily reserve rows (2025-03-11 to 2026-09-30) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-09-29","peak_book_usd_90d":0,"peak_on":"2026-09-29","days_seen":9},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"fraxlend_fraxtal","display_name":"Fraxlend (Fraxtal)","operator":null,"venue_type":"onchain_pooled","chain_id":252,"family_id":"fraxlend","deployment":"Fraxtal","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. The venue holds no bitcoin, so it is in no figure. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 7 lending market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 840 of the aggregator's daily reserve rows (2026-06-03 to 2026-09-30) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"moonwell_lending_optimism","display_name":"Moonwell Lending (Optimism)","operator":null,"venue_type":"onchain_pooled","chain_id":10,"family_id":"moonwell_lending","deployment":"Optimism","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. The venue holds no bitcoin, so it is in no figure. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/comptroller_forks.json), root from the venue's own published addresses. The Comptroller answers getAllMarkets() with 14 markets and oracle() on an RPC reporting chain id 10. Bitcoin-symbol markets: mWBTC over WBTC, collateral factor 0.1%. markets is left EMPTY on purpose: this deployment's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC markets (0) at a usable collateral factor"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 7188 of the aggregator's daily reserve rows (2024-08-14 to 2026-09-30) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":180554.80000000002,"book_as_of":"2026-09-29","peak_book_usd_90d":365278.23333333334,"peak_on":"2026-09-21","days_seen":9},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"uwu_lend_ethereum","display_name":"UwU Lend (Ethereum)","operator":null,"venue_type":"onchain_pooled","chain_id":1,"family_id":"uwu_lend","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. The venue holds no bitcoin, so it is in no figure. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 5 lending market(s), $0M. venue_type DERIVED (one market per collateral symbol in the pool feed) and unverified against the protocol's own docs. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 6322 of the aggregator's daily reserve rows (2022-10-10 to 2026-09-30) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-09-29","peak_book_usd_90d":0,"peak_on":"2026-09-29","days_seen":9},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"curve_llamalend_fraxtal","display_name":"Curve LlamaLend (Fraxtal)","operator":"Curve DAO","venue_type":"onchain_isolated","chain_id":252,"family_id":"curve_llamalend","deployment":"Fraxtal","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. The venue holds no bitcoin, so it is in no figure. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/curve.json). Candidates are the 12 lending markets Curve's API lists on Fraxtal; 0 take a bitcoin-symbol collateral and each Controller confirmed its tokens on an RPC reporting chain id 252. A market the API does not list is not found. One collateral and one borrowed asset per market; liquidation is soft. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"soft"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC-collateral markets with 1,000 crvUSD or more of debt (0): none"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 2138 of the aggregator's daily reserve rows (2024-09-25 to 2026-09-30) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-09-29","peak_book_usd_90d":0,"peak_on":"2026-09-29","days_seen":9},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"fluid_lending_plasma","display_name":"Fluid Lending (Plasma)","operator":null,"venue_type":"onchain_isolated","chain_id":9745,"family_id":"fluid_lending","deployment":"Plasma","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. The venue holds no bitcoin, so it is in no figure. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/fluid.json), roots from Instadapp's published deployments. ⚠ Liquidity and VaultFactory sit at the same two addresses on every chain and are read on each chain separately. The factory reports 42 vaults on Plasma (chain id 9745); Fluid's API lists 32, 0 with a bitcoin-symbol supply token, each confirmed by constantsView(). A vault the API does not list is not found. Every token sits in the one Liquidity contract; vaults are accounts on it. markets is left EMPTY on purpose: this venue's events are not ingested and its figures are aggregator-sourced.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC vaults (0): none"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 1084 of the aggregator's daily reserve rows (2026-05-31 to 2026-09-30) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":20658011.533333335,"book_as_of":"2026-09-29","peak_book_usd_90d":21804772.733333334,"peak_on":"2026-09-21","days_seen":9},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"kinetic_flare","display_name":"Kinetic (Flare)","operator":null,"venue_type":"onchain_isolated","chain_id":null,"family_id":"kinetic","deployment":"Flare","agent_access":{"state":"not_surveyed"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. The venue holds no bitcoin, so it is in no figure. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Auto-proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed: 11 lending market(s), $32M. venue_type DERIVED (several markets share a collateral symbol but differ in loan asset or LLTV) and unverified against the protocol's own docs. chain_id NULL — no chain id is recorded for Flare in this script's table. That means NOT HELD, not \"non-EVM\": the table covers the chains the registry already used, and Plasma, Xlayer, Hyperliquid L1 and others are EVM chains whose ids simply are not in it. Fill from a sourced list, never from recall — a wrong chain id is worse than an absent one. Attribute row (8/8, each cell sourced) OWED: registered and published without it by operator decision 2026-08-03, which knowingly sets aside, for this row, the rule that no venue is published before its attribute row is complete and sourced. Operator, contracts, markets and first_date left NULL rather than guessed.","market_count":0,"resolved_at":null,"attributes":{"oracle_dependency":{"value":null},"liquidation_mechanism":{"value":null},"term_certainty":{"value":null},"rate_certainty":{"value":null},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":null},"collateral_asset":{"value":null},"recourse":{"value":null},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":2,"attributes_established":1,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 5474 of the aggregator's daily reserve rows (2024-12-09 to 2026-09-30) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"listed","basis":"below_floor","floor_usd":5000000,"window_days":90,"book_usd_30d":0,"book_as_of":"2026-09-29","peak_book_usd_90d":0,"peak_on":"2026-09-29","days_seen":9},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"morpho_blue_robinhood_chain","display_name":"Morpho Blue (Robinhood Chain)","operator":"Morpho Labs","venue_type":"onchain_isolated","chain_id":4663,"family_id":"morpho_blue","deployment":"Robinhood Chain","agent_access":{"state":"unresolved","reason":"An operator MCP exists for this protocol (https://mcp.morpho.org/) but its supported-chain list does not name this registry row's chain under a matching slug. Resolving the correspondence is a publisher-normalisation question, and this dataset does not guess it.","surveyed_on":"2026-08-30"},"rate_mechanism":"algorithmic_utilisation","source_type":"aggregator","status":"ingesting","first_block":null,"first_date":null,"backfill_horizon":"full","coverage":{"price":{"level":"partial","reason":"Observed through the aggregator (DefiLlama). The aggregator's rows are each pool's published borrow and supply rates as it reports them — not a read of the venue's own contracts, and not checked against one. As of 2026-10-01.","validated":false},"quantity":{"level":"partial","reason":"Observed through the aggregator (DefiLlama): its supplied and borrowed amounts per pool. The venue holds no bitcoin, so it is in no figure. As of 2026-10-01.","validated":false},"composition":{"level":"none","reason":"Not obtainable from an aggregator — composition is loan-level and requires event ingestion, which is not planned for this venue.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"Proposed by scripts/propose-btc-venues.mjs from the DefiLlama lending feed, and resolved on-chain 2026-09-30 by view call (registry/resolution/2026-09/morpho_chains.json). Roots are Morpho's own registry (morpho-org/sdks, morpho-ts addresses.ts and chain.ts). ⚠ The core is NOT 0xBBBB…FFCb here — that address is Ethereum and Base only; on Robinhood Chain it is 0x9D53d5E3bd5E8d4Cbfa6DB1ca238AEA02E651010. The RPC reports chain id 4663, the core answers owner() and feeRecipient(), and isIrmEnabled(adaptiveCurveIrm) is true. 0 bitcoin-symbol market(s) carry $1,000 or more of debt, each confirmed with idToMarketParams(id); candidates come from Morpho's API, so a market it does not list is not found. ⚠ SETTING chain_id HAS A CONSEQUENCE: ingestors/morpho-market-rates.js maps Morpho's API markets to a venue by chain_id, so from the next run this venue receives gate-checked venue-API rows (rates, collateral, LLTV) it did not receive while the id was NULL. markets is left EMPTY on purpose: this deployment's events are not ingested.","market_count":0,"resolved_at":"2026-09-30","attributes":{"oracle_dependency":{"value":"single"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"variable"},"rate_mechanism":{"value":"algorithmic_utilisation"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"BTC-collateral markets with $1,000 or more of debt (0): none"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"unknown"}},"attributes_complete":10,"attributes_established":9,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"No bitcoin collateral observed: 274 of the aggregator's daily reserve rows (2026-07-15 to 2026-09-30) and none is an asset asset_peg measures as bitcoin; no contract read and no registry market names one. Registered and still ingested; not listed and in no figure. Operator, 2026-09-30: out of the stack until other collateral types are in scope. Migration 146.","collateral_set":["eth"],"research_tier":{"tier":"full","basis":"book","floor_usd":5000000,"window_days":90,"book_usd_30d":430289262.1333333,"book_as_of":"2026-09-29","peak_book_usd_90d":430289262.1333333,"peak_on":"2026-09-29","days_seen":9},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"liquity_v1_ethereum","display_name":"Liquity v1 (Ethereum)","operator":null,"venue_type":"onchain_cdp","chain_id":1,"family_id":"liquity_v1","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"administered","source_type":"contract_read","status":"registered","first_block":12178557,"first_date":"2021-04-05","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false},"quantity":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false},"composition":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"REGISTERED 2026-10-06 (ether as a second collateral type). Root: https://github.com/liquity/dev/blob/main/packages/lib-ethers/deployments/default/mainnet.json; every other address is the root's own answer, read at block 26133615 on chain 1. Criteria cells, book, reader notes and caveats: registry/resolution/2026-10/ec1_venues.json. Not yet read daily.","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"administered"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"ETH (1): ETH"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"disclosed"}},"attributes_complete":10,"attributes_established":10,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"2026-10-06: takes no bitcoin (read on chain; registry/resolution/2026-10/ec1_venues.json). Removed on 2026-09-21 as not bitcoin credit; back as an ether-only venue by operator decision 2026-10-06.","collateral_set":["eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":null,"observed":null}},{"venue_id":"liquity_v2_ethereum","display_name":"Liquity v2 (Ethereum)","operator":null,"venue_type":"onchain_cdp","chain_id":1,"family_id":"liquity_v2","deployment":"Ethereum","agent_access":{"state":"not_surveyed"},"rate_mechanism":"borrower_set","source_type":"contract_read","status":"registered","first_block":22516069,"first_date":"2025-05-19","backfill_horizon":"full","coverage":{"price":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false},"quantity":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false},"composition":{"level":"none","reason":"Not yet observed: registered 2026-10-06; the venue's own direct read is not built yet. As of 2026-10-06.","validated":false}},"validation_note":null,"terminal_date":null,"terminal_event":null,"disclosure":null,"notes":"REGISTERED 2026-10-06 (ether as a second collateral type). Root: https://github.com/liquity/bold/blob/main/contracts/addresses/1.json; every other address is the root's own answer, read at block 26133613 on chain 1. Criteria cells, book, reader notes and caveats: registry/resolution/2026-10/ec1_venues.json. Not yet read daily.","market_count":0,"resolved_at":"2026-07-24","attributes":{"oracle_dependency":{"value":"multiple"},"liquidation_mechanism":{"value":"threshold"},"term_certainty":{"value":"open_ended"},"rate_certainty":{"value":"fixed_at_origination"},"rate_mechanism":{"value":"borrower_set"},"custody_model":{"value":"protocol_custodial"},"collateral_asset":{"value":"ETH branches (3): WETH, wstETH, rETH"},"recourse":{"value":"non_recourse"},"track_record":{"value":"observed"},"book_depth":{"value":"disclosed"}},"attributes_complete":10,"attributes_established":10,"attributes_total":10,"scope":"no_bitcoin_collateral","scope_src":"2026-10-06: takes no bitcoin (read on chain; registry/resolution/2026-10/ec1_venues.json). Removed on 2026-09-21 as not bitcoin credit; back as an ether-only venue by operator decision 2026-10-06.","collateral_set":["eth"],"research_tier":{"tier":"full","basis":"first_hand","floor_usd":5000000,"window_days":90,"book_usd_30d":null,"book_as_of":null,"peak_book_usd_90d":null,"peak_on":null,"days_seen":0},"loan_currency":{"declared":null,"observed":null}}],"tree_unavailable":null,"venue_axes":{"as_of":"2026-10-13","question":"The same sixteen axes for every venue, each from the read that can answer it — or the reason it cannot.","treasury_reference":{"tenor":"1 month","yield_as_filed_pct":4.14,"cc_pct":4.132972266619767,"as_of":"2026-10-08"},"series_last_day":"2026-10-13","absent_kinds":{"not_applicable":"the metric does not exist for this kind of venue","not_published":"the venue does not disclose it","not_read":"it exists and is public, and this dataset does not read it yet — a gap in the dataset, not a property of the venue","below_floor":"not read because the venue is below the research floor (its book has not reached $5m on any day of the last 90); the figure exists"},"attribution":[{"provider":"Board of Governors of the Federal Reserve System","text":"Source: Board of Governors of the Federal Reserve System (H.15, H.4.1, H.6).","url":"https://www.federalreserve.gov/releases/h15/","covers":"US Treasury yields, federal funds rate, prime rate, balance sheet, M2"}]},"venue_axes_unavailable":null,"headline_unavailable":null,"market_rates":{"rate_date":"2026-10-13","side":"borrow","rate_convention":"continuously_compounded_annual","families":[{"family":"Aave v3","rate_mechanism":"algorithmic_utilisation","rate_bases":["instantaneous_contract_read"],"chains":["arbitrum","avalanche","base","bsc","ethereum","optimism","polygon"],"markets":163,"usd_markets":23,"usd_borrow_rate_cc":0.04514707380709512,"usd_supply_rate_cc":0.03677989827658516,"usd_borrowed":5415509131.233009,"usd_supplied":5938693168.242454,"btc_supply_rate_cc":0.00015307977552520528},{"family":"Morpho Blue","rate_mechanism":"algorithmic_utilisation","rate_bases":["trailing_realised"],"chains":["base","ethereum"],"markets":53,"usd_markets":24,"usd_borrow_rate_cc":0.04836971056295397,"usd_supply_rate_cc":null,"usd_borrowed":2490369693.60538,"usd_supplied":null,"btc_supply_rate_cc":null},{"family":"Compound v3","rate_mechanism":"algorithmic_utilisation","rate_bases":["instantaneous_contract_read"],"chains":["arbitrum","base","ethereum","optimism","polygon"],"markets":18,"usd_markets":12,"usd_borrow_rate_cc":0.05101357103451316,"usd_supply_rate_cc":0.04054228834561435,"usd_borrowed":530305495.64516085,"usd_supplied":594196000.1904558,"btc_supply_rate_cc":null},{"family":"Sky","rate_mechanism":"administered","rate_bases":["administered_parameter"],"chains":["ethereum"],"markets":3,"usd_markets":3,"usd_borrow_rate_cc":0.14331218043659963,"usd_supply_rate_cc":null,"usd_borrowed":2199360.002192542,"usd_supplied":null,"btc_supply_rate_cc":null}],"family_note":"Roll-up is matched on the DOLLAR BOOK — assets R2 declares as dollar-parity, weighted by size. Averaging every asset a venue lists would mostly measure how many long-tail markets it happens to carry rather than what borrowing costs. The BTC supply rate is kept separate: it is the collateral-opportunity question, on a different asset, and does not belong in the cost of borrowing dollars.","convention_note":"Every venue quotes in its own scale — Aave in ray APR, Compound per second, Sky as a per-second growth factor. All are converted here so figures from different venues are the same kind of number. Effective APY is exp(r) − 1.","mechanism_note":"rate_mechanism is how the venue SETS the rate; rate_basis is how this pipeline obtained it. They are different axes and both travel with every row. An administered rate is a governance parameter rather than a cleared price and does not belong in a ranking against utilisation-driven rates without that label.","excludes":"Gavel is absent by design: it has no pool rate. Its rate is a term structure discovered by auction and is served by /v1/yield-curve. Reducing it to one number would misrepresent the only venue here whose rate genuinely has a tenor.","validation":{"gate":"gate9_rate_conversion","statement":"Each quoted rate is compared against the realised growth of that venue's own accumulator index over a trailing window — a different function on a different contract path. Catches unit and contract errors; does NOT certify small rate differences, because an instantaneous quote and a trailing average legitimately differ."},"venue_count":15,"market_count":237},"market_rates_unavailable":null,"instruments":{"as_of":"2026-10-12","rate_convention":"annualised_distribution_over_price_percent","returns_convention":{"basis":"per $100 invested at the entry close, held to the exit close","income":"accrued at par x declared_rate / 365 per calendar day, rate in force that day","income_confirmed_paid":false,"income_note":"No dividend-payment record exists in this database and accrued_flag is null on every row, so income is what the terms accrue, not what was confirmed paid. For a cumulative preferred that difference is the credit question.","legs_are_separate":true,"annualisation_note":"Only the income leg behaves like a rate. Annualising a total return over a short holding period multiplies a price move rather than measuring a yield - a 5% one-month move annualises past 70%. Rows under 90 days carry short_period_annualisation_warning (PC-10).","not_forward_looking":"These are realised returns from specific historical entry dates, not a curve and not an expectation."},"trailing_convention":{"axis":"lookback_window_days","windows":[7,14,30,60,90,180,365],"not_a_tenor":true,"anchor":"all windows end on the same date across every instrument","statistic":"arithmetic mean of daily observations within the window","note":"Lookback windows are not maturities. These instruments are perpetual and have no tenor, so this profile never shares an axis or a legend with a tenor-axis chart, and is never drawn as a fitted curve (PC-8)."},"instruments":[{"instrument_id":"capital_b_oca_b_02","issuer_id":"blockchain_group","issuer":"Capital B (formerly The Blockchain Group)","ticker":null,"instrument_type":"convertible_note","seniority_rank":1,"seniority_source":"Pari passu with the other OCA series: all are unsecured obligations of the same Luxembourg issuer on common terms — \"Repayment of the OCA convertible bonds is not guaranteed by any collateral\" and \"They are neither listed nor admitted to Euroclear\" (https://cptlb.com/wp-content/uploads/2026/04/20260430-TBG-RFA-2025-EN-FINAL-updated.pdf, p.92). No ranking clause is published (the full Terms and Conditions are not public); rank 1 is the whole registered stack, not a quoted seniority.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"OCA B-02","holder":"Blockstream Capital Partners (from Fulgur Ventures)","redemption":"99-100% of the Acquired BTC, i.e. 95% of the nominal debt at most; in BTC or EUR at the BTC selling price, or converted, at the holder's option (https://cptlb.com/wp-content/uploads/2026/04/20260430-TBG-RFA-2025-EN-FINAL-updated.pdf, p.64)","btc_indexed":true,"issuer_entity":"Capital B Luxembourg SA (wholly owned subsidiary); convertible into shares of the parent","maturity_note":"5 years from issuance on 2025-06-13 (computed from two filed facts)","subscribed_in":"BTC","stated_rate_pct":0,"outstanding_btc_as_filed":544},"maturity_date":"2030-06-13","liquidation_preference":null,"outstanding_amount":55279428,"status":"outstanding","currency":"EUR","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":3525,"btc_holdings_as_of":"2026-09-14","btc_holdings_source":"https://cptlb.com/wp-content/uploads/2026/09/0vcKV41w13/20260914-Capital-B-CP-14-septembre-2026-EN-FINAL.pdf (press release, 2026-09-14): \"Capital B and its subsidiary Capital B Luxembourg SA hold a total of 3,525 BTC as part of the Bitcoin Treasury Company strategy\". Excludes \"an additional 61 BTC for its operational needs... segregated from its Bitcoin reserve\".","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"capital_b_oca_b_03","issuer_id":"blockchain_group","issuer":"Capital B (formerly The Blockchain Group)","ticker":null,"instrument_type":"convertible_note","seniority_rank":1,"seniority_source":"Pari passu with the other OCA series: all are unsecured obligations of the same Luxembourg issuer on common terms — \"Repayment of the OCA convertible bonds is not guaranteed by any collateral\" and \"They are neither listed nor admitted to Euroclear\" (https://cptlb.com/wp-content/uploads/2026/04/20260430-TBG-RFA-2025-EN-FINAL-updated.pdf, p.92). No ranking clause is published (the full Terms and Conditions are not public); rank 1 is the whole registered stack, not a quoted seniority.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"OCA B-03","holder":"Moonlight Capital","redemption":"99-100% of the Acquired BTC, i.e. 95% of the nominal debt at most; in BTC or EUR at the BTC selling price, or converted, at the holder's option (https://cptlb.com/wp-content/uploads/2026/04/20260430-TBG-RFA-2025-EN-FINAL-updated.pdf, p.64)","btc_indexed":true,"issuer_entity":"Capital B Luxembourg SA (wholly owned subsidiary); convertible into shares of the parent","maturity_note":"issued 06/2025, '5 years from their subscription' — day not filed","subscribed_in":"BTC","stated_rate_pct":0,"outstanding_btc_as_filed":48},"maturity_date":null,"liquidation_preference":null,"outstanding_amount":4610177,"status":"outstanding","currency":"EUR","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":3525,"btc_holdings_as_of":"2026-09-14","btc_holdings_source":"https://cptlb.com/wp-content/uploads/2026/09/0vcKV41w13/20260914-Capital-B-CP-14-septembre-2026-EN-FINAL.pdf (press release, 2026-09-14): \"Capital B and its subsidiary Capital B Luxembourg SA hold a total of 3,525 BTC as part of the Bitcoin Treasury Company strategy\". Excludes \"an additional 61 BTC for its operational needs... segregated from its Bitcoin reserve\".","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"capital_b_oca_a_03","issuer_id":"blockchain_group","issuer":"Capital B (formerly The Blockchain Group)","ticker":null,"instrument_type":"convertible_note","seniority_rank":1,"seniority_source":"Pari passu with the other OCA series: all are unsecured obligations of the same Luxembourg issuer on common terms — \"Repayment of the OCA convertible bonds is not guaranteed by any collateral\" and \"They are neither listed nor admitted to Euroclear\" (https://cptlb.com/wp-content/uploads/2026/04/20260430-TBG-RFA-2025-EN-FINAL-updated.pdf, p.92). No ranking clause is published (the full Terms and Conditions are not public); rank 1 is the whole registered stack, not a quoted seniority.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"OCA A-03","holder":"TOBAM","redemption":"99-100% of the Acquired BTC, i.e. 95% of the nominal debt at most; in BTC or EUR at the BTC selling price, or converted, at the holder's option (https://cptlb.com/wp-content/uploads/2026/04/20260430-TBG-RFA-2025-EN-FINAL-updated.pdf, p.64)","btc_indexed":true,"issuer_entity":"Capital B Luxembourg SA (wholly owned subsidiary); convertible into shares of the parent","maturity_note":"issued 06/2025, '5 years from the subscription date' — day not filed","subscribed_in":"EUR","stated_rate_pct":0,"outstanding_btc_as_filed":62},"maturity_date":null,"liquidation_preference":null,"outstanding_amount":6000000,"status":"outstanding","currency":"EUR","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":3525,"btc_holdings_as_of":"2026-09-14","btc_holdings_source":"https://cptlb.com/wp-content/uploads/2026/09/0vcKV41w13/20260914-Capital-B-CP-14-septembre-2026-EN-FINAL.pdf (press release, 2026-09-14): \"Capital B and its subsidiary Capital B Luxembourg SA hold a total of 3,525 BTC as part of the Bitcoin Treasury Company strategy\". Excludes \"an additional 61 BTC for its operational needs... segregated from its Bitcoin reserve\".","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"capital_b_oca_a_04","issuer_id":"blockchain_group","issuer":"Capital B (formerly The Blockchain Group)","ticker":null,"instrument_type":"convertible_note","seniority_rank":1,"seniority_source":"Pari passu with the other OCA series: all are unsecured obligations of the same Luxembourg issuer on common terms — \"Repayment of the OCA convertible bonds is not guaranteed by any collateral\" and \"They are neither listed nor admitted to Euroclear\" (https://cptlb.com/wp-content/uploads/2026/04/20260430-TBG-RFA-2025-EN-FINAL-updated.pdf, p.92). No ranking clause is published (the full Terms and Conditions are not public); rank 1 is the whole registered stack, not a quoted seniority.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"OCA A-04","holder":"TOBAM","redemption":"99-100% of the Acquired BTC, i.e. 95% of the nominal debt at most; in BTC or EUR at the BTC selling price, or converted, at the holder's option (https://cptlb.com/wp-content/uploads/2026/04/20260430-TBG-RFA-2025-EN-FINAL-updated.pdf, p.64)","btc_indexed":true,"issuer_entity":"Capital B Luxembourg SA (wholly owned subsidiary); convertible into shares of the parent","maturity_note":"issued 07/2025, 5 years — day not filed","subscribed_in":"EUR","stated_rate_pct":0,"outstanding_btc_as_filed":52},"maturity_date":null,"liquidation_preference":null,"outstanding_amount":5000000,"status":"outstanding","currency":"EUR","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":3525,"btc_holdings_as_of":"2026-09-14","btc_holdings_source":"https://cptlb.com/wp-content/uploads/2026/09/0vcKV41w13/20260914-Capital-B-CP-14-septembre-2026-EN-FINAL.pdf (press release, 2026-09-14): \"Capital B and its subsidiary Capital B Luxembourg SA hold a total of 3,525 BTC as part of the Bitcoin Treasury Company strategy\". Excludes \"an additional 61 BTC for its operational needs... segregated from its Bitcoin reserve\".","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"capital_b_oca_b_04","issuer_id":"blockchain_group","issuer":"Capital B (formerly The Blockchain Group)","ticker":null,"instrument_type":"convertible_note","seniority_rank":1,"seniority_source":"Pari passu with the other OCA series: all are unsecured obligations of the same Luxembourg issuer on common terms — \"Repayment of the OCA convertible bonds is not guaranteed by any collateral\" and \"They are neither listed nor admitted to Euroclear\" (https://cptlb.com/wp-content/uploads/2026/04/20260430-TBG-RFA-2025-EN-FINAL-updated.pdf, p.92). No ranking clause is published (the full Terms and Conditions are not public); rank 1 is the whole registered stack, not a quoted seniority.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"OCA B-04","holder":"Adam Back","redemption":"99-100% of the Acquired BTC, i.e. 95% of the nominal debt at most; in BTC or EUR at the BTC selling price, or converted, at the holder's option (https://cptlb.com/wp-content/uploads/2026/04/20260430-TBG-RFA-2025-EN-FINAL-updated.pdf, p.64)","btc_indexed":true,"issuer_entity":"Capital B Luxembourg SA (wholly owned subsidiary); convertible into shares of the parent","maturity_note":"issued 07/2025, 5 years — day not filed","subscribed_in":"BTC","stated_rate_pct":0,"outstanding_btc_as_filed":53},"maturity_date":null,"liquidation_preference":null,"outstanding_amount":5045020,"status":"outstanding","currency":"EUR","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":3525,"btc_holdings_as_of":"2026-09-14","btc_holdings_source":"https://cptlb.com/wp-content/uploads/2026/09/0vcKV41w13/20260914-Capital-B-CP-14-septembre-2026-EN-FINAL.pdf (press release, 2026-09-14): \"Capital B and its subsidiary Capital B Luxembourg SA hold a total of 3,525 BTC as part of the Bitcoin Treasury Company strategy\". Excludes \"an additional 61 BTC for its operational needs... segregated from its Bitcoin reserve\".","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"capital_b_oca_a_05","issuer_id":"blockchain_group","issuer":"Capital B (formerly The Blockchain Group)","ticker":null,"instrument_type":"convertible_note","seniority_rank":1,"seniority_source":"Pari passu with the other OCA series: all are unsecured obligations of the same Luxembourg issuer on common terms — \"Repayment of the OCA convertible bonds is not guaranteed by any collateral\" and \"They are neither listed nor admitted to Euroclear\" (https://cptlb.com/wp-content/uploads/2026/04/20260430-TBG-RFA-2025-EN-FINAL-updated.pdf, p.92). No ranking clause is published (the full Terms and Conditions are not public); rank 1 is the whole registered stack, not a quoted seniority.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"OCA A-05","holder":"TOBAM (Bitcoin Alpha Fund)","redemption":"99-100% of the Acquired BTC, i.e. 95% of the nominal debt at most; in BTC or EUR at the BTC selling price, or converted, at the holder's option (https://cptlb.com/wp-content/uploads/2026/04/20260430-TBG-RFA-2025-EN-FINAL-updated.pdf, p.64)","btc_indexed":true,"issuer_entity":"Capital B Luxembourg SA (wholly owned subsidiary); convertible into shares of the parent","maturity_note":"convertible 'at any time before August 1st, 2030'","subscribed_in":"EUR","stated_rate_pct":0,"outstanding_btc_as_filed":62},"maturity_date":"2030-08-01","liquidation_preference":null,"outstanding_amount":6500000,"status":"outstanding","currency":"EUR","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":3525,"btc_holdings_as_of":"2026-09-14","btc_holdings_source":"https://cptlb.com/wp-content/uploads/2026/09/0vcKV41w13/20260914-Capital-B-CP-14-septembre-2026-EN-FINAL.pdf (press release, 2026-09-14): \"Capital B and its subsidiary Capital B Luxembourg SA hold a total of 3,525 BTC as part of the Bitcoin Treasury Company strategy\". Excludes \"an additional 61 BTC for its operational needs... segregated from its Bitcoin reserve\".","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"mara_coinbase_2028","issuer_id":"mara","issuer":"MARA Holdings, Inc.","ticker":null,"instrument_type":"credit_facility","seniority_rank":1,"seniority_source":"Secured. SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30): \"In connection with these facilities, 18,750 bitcoin, with a fair value of approximately $1.2 billion, were pledged as initial collateral as of August 4, 2026, the closing date of both transactions.\" A pledge of identified collateral ranks this ahead of the unsecured Convertible Senior Notes.","cumulative":null,"rate_policy":"variable_indexed","rate_policy_terms":{"index":"arithmetic average of the upper and lower bounds of the federal funds target range","lender":"Coinbase Credit, Inc.","formula":"arithmetic average of the upper and lower bounds of the target range for federal funds transactions, plus 3.875%","extension":"subject to an automatic one-year extension unless timely canceled by either party","structure":"floating","spread_pct":3.875,"refinances_usd":150000000,"margin_call_threshold":"NOT DISCLOSED, and the absence now rests on a positive test rather than on a peer comparison. The filings establish that a threshold and a required collateral ratio exist, and state neither figure. Verified 2026-09-01 by exhaustive EDGAR full-text search over MARA's entire filing corpus (CIK 0001507605): \"Coinbase Credit\" returns ONE document, the 10-Q cited above, and \"Two Prime\" returns four - three 10-Qs and the Q2 2026 shareholder letter, all already cited here. MARA has filed NEITHER credit agreement as an exhibit, so no Item 1.01 8-K carries the level, and the 89 Item 1.01 8-Ks MARA has filed are about other matters. CORRECTED 2026-09-01 - this reason previously read that \"Riot discloses the same structure and also withholds the level, so this is a market-wide disclosure gap rather than one issuer's omission\". That is FALSE. Riot's Exhibit 10.1 publishes a complete LTV Table - Liquidation 80/75/70, Top Up 70/65/60, Initial 60/55/50, Release 50/45/40 across the three trigger regimes - now tabled row by row in corporate_collateral_observations with the clause quoted verbatim. This is ONE issuer's omission, and the peer comparison that excused it as an industry norm was simply not true.","additional_funding_usd":300000000,"collateral_maintenance":"Bidirectional and quoted from SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30): \"If the value of the collateral securing our borrowings fluctuates below or above a set threshold, the Company will be required to contribute additional collateral, or may withdraw excess collateral, as applicable, to maintain the agreed-upon level.\" And specifically: \"If the value of posted collateral falls below the specified margin call limit, the Company must promptly post additional collateral or take such other action as may be available to the Company under the Coinbase Loan Documents to restore the required collateral ratio.\"","weighted_average_scope":"As filed in SEC EDGAR accession 0001507605-26-000020 (8-K, 2026-08-06), Exhibit 99.1 Q2 2026 Shareholder Letter: \"a weighted average cost of debt of 7.56% for incremental borrowings under these facilities of $600.0 million\". This is the BLENDED rate across BOTH facilities, not this facility's rate. Two Prime's 7.65% fixed leg is inside it. Do not read 7.56% as Coinbase's rate and do not solve for Coinbase's rate from it — that would publish a derived figure as an observed one.","refinanced_leg_maturity_change":"SEC EDGAR accession 0001507605-26-000020 (8-K, 2026-08-06), Exhibit 99.1 Q2 2026 Shareholder Letter: \"This borrowing, originally due in Q1 of 2027, will now mature in two years along with the incremental $600.0 million.\" The refinanced $150.0m leg's maturity moved out to match the new money.","weighted_average_cost_of_debt_pct":7.56,"total_incremental_both_facilities_usd":600000000},"maturity_date":"2028-08-04","liquidation_preference":null,"outstanding_amount":450000000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":26307,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 5 DIGITAL ASSETS: \"As of June 30, 2026 ... Quantity Cost Basis Fair Value Bitcoin 26,307 $ 1,889,537 $ 1,540,574\". READ, NOT DERIVED — this closes the pending below on its own terms: the count is absent from XBRL (CryptoAssetNumberOfUnits is untagged for this filer) but present in the filing's own table, so no division by a BTC close was needed. SCOPE: this is bitcoin HELD. The same table reports \"Bitcoin - receivable 9,270\" and \"Total bitcoin holdings 35,577\". The receivable is coin lent to counterparties and not in the company's possession, so it is deliberately EXCLUDED here; a backing ratio built on 35,577 would count collateral the issuer does not hold. Use 35,577 only where the intent is economic exposure, and say which is meant.","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"mara_twoprime_2028","issuer_id":"mara","issuer":"MARA Holdings, Inc.","ticker":null,"instrument_type":"credit_facility","seniority_rank":1,"seniority_source":"Secured, on the same 18,750 BTC pledge as the Coinbase facility: SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30) records the collateral \"in connection with these facilities\" jointly. Ranks ahead of the unsecured Convertible Senior Notes.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"lender":"Two Prime Lending Limited","structure":"fixed","stated_rate_pct":7.65,"margin_call_threshold":"NOT DISCLOSED, and the absence now rests on a positive test rather than on a peer comparison. The filings establish that a threshold and a required collateral ratio exist, and state neither figure. Verified 2026-09-01 by exhaustive EDGAR full-text search over MARA's entire filing corpus (CIK 0001507605): \"Coinbase Credit\" returns ONE document, the 10-Q cited above, and \"Two Prime\" returns four - three 10-Qs and the Q2 2026 shareholder letter, all already cited here. MARA has filed NEITHER credit agreement as an exhibit, so no Item 1.01 8-K carries the level, and the 89 Item 1.01 8-Ks MARA has filed are about other matters. CORRECTED 2026-09-01 - this reason previously read that \"Riot discloses the same structure and also withholds the level, so this is a market-wide disclosure gap rather than one issuer's omission\". That is FALSE. Riot's Exhibit 10.1 publishes a complete LTV Table - Liquidation 80/75/70, Top Up 70/65/60, Initial 60/55/50, Release 50/45/40 across the three trigger regimes - now tabled row by row in corporate_collateral_observations with the clause quoted verbatim. This is ONE issuer's omission, and the peer comparison that excused it as an industry norm was simply not true.","collateral_maintenance":"Bidirectional and quoted from SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30): \"If the value of the collateral securing our borrowings fluctuates below or above a set threshold, the Company will be required to contribute additional collateral, or may withdraw excess collateral, as applicable, to maintain the agreed-upon level.\" And specifically: \"If the value of posted collateral falls below the specified margin call limit, the Company must promptly post additional collateral or take such other action as may be available to the Company under the Coinbase Loan Documents to restore the required collateral ratio.\"","weighted_average_scope":"The 7.56% in SEC EDGAR accession 0001507605-26-000020 (8-K, 2026-08-06), Exhibit 99.1 Q2 2026 Shareholder Letter is the BLENDED cost across both facilities. This facility's own rate is 7.65% fixed, stated directly in SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30).","part_of_incremental_usd":600000000,"weighted_average_cost_of_debt_pct":7.56},"maturity_date":"2028-08-03","liquidation_preference":null,"outstanding_amount":300000000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":26307,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 5 DIGITAL ASSETS: \"As of June 30, 2026 ... Quantity Cost Basis Fair Value Bitcoin 26,307 $ 1,889,537 $ 1,540,574\". READ, NOT DERIVED — this closes the pending below on its own terms: the count is absent from XBRL (CryptoAssetNumberOfUnits is untagged for this filer) but present in the filing's own table, so no division by a BTC close was needed. SCOPE: this is bitcoin HELD. The same table reports \"Bitcoin - receivable 9,270\" and \"Total bitcoin holdings 35,577\". The receivable is coin lent to counterparties and not in the company's possession, so it is deliberately EXCLUDED here; a backing ratio built on 35,577 would count collateral the issuer does not hold. Use 35,577 only where the intent is economic exposure, and say which is meant.","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"mara_dec2026","issuer_id":"mara","issuer":"MARA Holdings, Inc.","ticker":null,"instrument_type":"convertible_note","seniority_rank":2,"seniority_source":"Titled \"Convertible Senior Notes\" in SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 13 DEBT. Ranked BELOW the bitcoin-backed term loan facilities (rank 1) because those are collateralised and these are not: the same filing records that \"18,750 bitcoin, with a fair value of approximately $1.2 billion, were pledged as initial collateral\" for the facilities, and records no pledge against these notes. The subordination is therefore STRUCTURAL, inferred from the pledge, and is NOT quoted from an intercreditor provision — no such provision was read. Ranks among the five notes are equal, not ordered.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"1% Convertible Senior Notes due 2026","stated_rate_pct":1,"holder_put_option":"N/A","effective_rate_pct":1,"interest_payment_dates":"June 1 & December 1","original_principal_usd":747500000,"issuance_month_as_filed":"November 2021"},"maturity_date":"2026-12-01","liquidation_preference":null,"outstanding_amount":48077000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":26307,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 5 DIGITAL ASSETS: \"As of June 30, 2026 ... Quantity Cost Basis Fair Value Bitcoin 26,307 $ 1,889,537 $ 1,540,574\". READ, NOT DERIVED — this closes the pending below on its own terms: the count is absent from XBRL (CryptoAssetNumberOfUnits is untagged for this filer) but present in the filing's own table, so no division by a BTC close was needed. SCOPE: this is bitcoin HELD. The same table reports \"Bitcoin - receivable 9,270\" and \"Total bitcoin holdings 35,577\". The receivable is coin lent to counterparties and not in the company's possession, so it is deliberately EXCLUDED here; a backing ratio built on 35,577 would count collateral the issuer does not hold. Use 35,577 only where the intent is economic exposure, and say which is meant.","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"mara_aug2032","issuer_id":"mara","issuer":"MARA Holdings, Inc.","ticker":null,"instrument_type":"convertible_note","seniority_rank":2,"seniority_source":"Titled \"Convertible Senior Notes\" in SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 13 DEBT. Ranked BELOW the bitcoin-backed term loan facilities (rank 1) because those are collateralised and these are not: the same filing records that \"18,750 bitcoin, with a fair value of approximately $1.2 billion, were pledged as initial collateral\" for the facilities, and records no pledge against these notes. The subordination is therefore STRUCTURAL, inferred from the pledge, and is NOT quoted from an intercreditor provision — no such provision was read. Ranks among the five notes are equal, not ordered.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"0% Convertible Senior Notes due 2032","stated_rate_pct":0,"holder_put_option":"January 4, 2030","effective_rate_pct":0.1,"interest_payment_dates":"February 1 & August 1","original_principal_usd":1025000000,"issuance_month_as_filed":"July 2025"},"maturity_date":"2032-08-01","liquidation_preference":null,"outstanding_amount":1025000000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":26307,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 5 DIGITAL ASSETS: \"As of June 30, 2026 ... Quantity Cost Basis Fair Value Bitcoin 26,307 $ 1,889,537 $ 1,540,574\". READ, NOT DERIVED — this closes the pending below on its own terms: the count is absent from XBRL (CryptoAssetNumberOfUnits is untagged for this filer) but present in the filing's own table, so no division by a BTC close was needed. SCOPE: this is bitcoin HELD. The same table reports \"Bitcoin - receivable 9,270\" and \"Total bitcoin holdings 35,577\". The receivable is coin lent to counterparties and not in the company's possession, so it is deliberately EXCLUDED here; a backing ratio built on 35,577 would count collateral the issuer does not hold. Use 35,577 only where the intent is economic exposure, and say which is meant.","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"mara_sep2031","issuer_id":"mara","issuer":"MARA Holdings, Inc.","ticker":null,"instrument_type":"convertible_note","seniority_rank":2,"seniority_source":"Titled \"Convertible Senior Notes\" in SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 13 DEBT. Ranked BELOW the bitcoin-backed term loan facilities (rank 1) because those are collateralised and these are not: the same filing records that \"18,750 bitcoin, with a fair value of approximately $1.2 billion, were pledged as initial collateral\" for the facilities, and records no pledge against these notes. The subordination is therefore STRUCTURAL, inferred from the pledge, and is NOT quoted from an intercreditor provision — no such provision was read. Ranks among the five notes are equal, not ordered.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"2.125% Convertible Senior Notes due 2031","stated_rate_pct":2.125,"holder_put_option":"March 1, 2029","effective_rate_pct":2.6,"interest_payment_dates":"March 1 & September 1","original_principal_usd":300000000,"issuance_month_as_filed":"August 2024"},"maturity_date":"2031-09-01","liquidation_preference":null,"outstanding_amount":300000000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":26307,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 5 DIGITAL ASSETS: \"As of June 30, 2026 ... Quantity Cost Basis Fair Value Bitcoin 26,307 $ 1,889,537 $ 1,540,574\". READ, NOT DERIVED — this closes the pending below on its own terms: the count is absent from XBRL (CryptoAssetNumberOfUnits is untagged for this filer) but present in the filing's own table, so no division by a BTC close was needed. SCOPE: this is bitcoin HELD. The same table reports \"Bitcoin - receivable 9,270\" and \"Total bitcoin holdings 35,577\". The receivable is coin lent to counterparties and not in the company's possession, so it is deliberately EXCLUDED here; a backing ratio built on 35,577 would count collateral the issuer does not hold. Use 35,577 only where the intent is economic exposure, and say which is meant.","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"mara_mar2030","issuer_id":"mara","issuer":"MARA Holdings, Inc.","ticker":null,"instrument_type":"convertible_note","seniority_rank":2,"seniority_source":"Titled \"Convertible Senior Notes\" in SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 13 DEBT. Ranked BELOW the bitcoin-backed term loan facilities (rank 1) because those are collateralised and these are not: the same filing records that \"18,750 bitcoin, with a fair value of approximately $1.2 billion, were pledged as initial collateral\" for the facilities, and records no pledge against these notes. The subordination is therefore STRUCTURAL, inferred from the pledge, and is NOT quoted from an intercreditor provision — no such provision was read. Ranks among the five notes are equal, not ordered.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"0% Convertible Senior Notes due 2030","stated_rate_pct":0,"holder_put_option":"December 1, 2027","effective_rate_pct":0.4,"interest_payment_dates":"March 1 & September 1","original_principal_usd":1000000000,"issuance_month_as_filed":"November 2024"},"maturity_date":"2030-03-01","liquidation_preference":null,"outstanding_amount":632540000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":26307,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 5 DIGITAL ASSETS: \"As of June 30, 2026 ... Quantity Cost Basis Fair Value Bitcoin 26,307 $ 1,889,537 $ 1,540,574\". READ, NOT DERIVED — this closes the pending below on its own terms: the count is absent from XBRL (CryptoAssetNumberOfUnits is untagged for this filer) but present in the filing's own table, so no division by a BTC close was needed. SCOPE: this is bitcoin HELD. The same table reports \"Bitcoin - receivable 9,270\" and \"Total bitcoin holdings 35,577\". The receivable is coin lent to counterparties and not in the company's possession, so it is deliberately EXCLUDED here; a backing ratio built on 35,577 would count collateral the issuer does not hold. Use 35,577 only where the intent is economic exposure, and say which is meant.","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"mara_jun2031","issuer_id":"mara","issuer":"MARA Holdings, Inc.","ticker":null,"instrument_type":"convertible_note","seniority_rank":2,"seniority_source":"Titled \"Convertible Senior Notes\" in SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 13 DEBT. Ranked BELOW the bitcoin-backed term loan facilities (rank 1) because those are collateralised and these are not: the same filing records that \"18,750 bitcoin, with a fair value of approximately $1.2 billion, were pledged as initial collateral\" for the facilities, and records no pledge against these notes. The subordination is therefore STRUCTURAL, inferred from the pledge, and is NOT quoted from an intercreditor provision — no such provision was read. Ranks among the five notes are equal, not ordered.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"0% Convertible Senior Notes due 2031","stated_rate_pct":0,"holder_put_option":"June 4, 2027 and June 4, 2029","effective_rate_pct":0.3,"interest_payment_dates":"June 1 & December 1","original_principal_usd":925000000,"issuance_month_as_filed":"December 2024"},"maturity_date":"2031-06-01","liquidation_preference":null,"outstanding_amount":291584000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":26307,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 5 DIGITAL ASSETS: \"As of June 30, 2026 ... Quantity Cost Basis Fair Value Bitcoin 26,307 $ 1,889,537 $ 1,540,574\". READ, NOT DERIVED — this closes the pending below on its own terms: the count is absent from XBRL (CryptoAssetNumberOfUnits is untagged for this filer) but present in the filing's own table, so no division by a BTC close was needed. SCOPE: this is bitcoin HELD. The same table reports \"Bitcoin - receivable 9,270\" and \"Total bitcoin holdings 35,577\". The receivable is coin lent to counterparties and not in the company's possession, so it is deliberately EXCLUDED here; a backing ratio built on 35,577 would count collateral the issuer does not hold. Use 35,577 only where the intent is economic exposure, and say which is meant.","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"metaplanet_btc_facility","issuer_id":"metaplanet","issuer":"Metaplanet Inc.","ticker":null,"instrument_type":"credit_facility","seniority_rank":1,"seniority_source":"Secured: \"under the Bitcoin-collateralized credit facility used by the Group, the facility's lender holds a priority right over the Bitcoin pledged as collateral\" (https://contents.xj-storage.jp/xcontents/33500/ccef5126/8cc0/4501/b779/01892d97a274/140120260813519694.pdf). Ranked ahead of the unsecured bonds and the preferred because it is secured — a structural ordering to the extent of the collateral, not a quoted intercreditor clause.","cumulative":null,"rate_policy":null,"rate_policy_terms":{"lender":"undisclosed at the counterparty's request (a custodian, per the Japanese notice)","structure":"\"Interest Rate: Reference USD interest rate + spread\"; \"Term: Automatically renewed on a daily basis\"; \"Repayable at any time at the Company's discretion\" (https://contents.xj-storage.jp/xcontents/33500/8f14b71e/f64c/4194/a0d9/43960f985a27/140120251028579824.pdf). rate_policy NULL: market-indexed floating has no value in the CHECK (see the MARA/Riot note above).","collateral":"bitcoin; FY2025 report: BTC worth JPY 68,385m pledged against JPY 43,836m borrowed at 2025-12-31. Count pledged and contractual LTV/margin thresholds NOT disclosed.","drawn_history":"USD 100m (2025-10-31), 230m (2025-11-21), 280m (2025-12-01), 355m (2026-01-30), 302m (2026-05-13), 414m (2026-06-30) — revolving","facility_size_usd":500000000,"observed_rate_pct":7.25,"observed_rate_basis":"weighted-average rate on short-term borrowings at 2025-12-31 (FY2025 securities report, 借入金等明細表: 短期借入金 43,836 7.25) — https://contents.xj-storage.jp/xcontents/33500/07b970fc/1f4a/46f6/a7bd/e843e80ac747/S100XTWY.pdf"},"maturity_date":null,"liquidation_preference":null,"outstanding_amount":414000000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":43000,"btc_holdings_as_of":"2026-08-18","btc_holdings_source":"https://contents.xj-storage.jp/xcontents/33500/c02155bd/0bd0/4333/ac51/6085aab46d18/140120260818522603.pdf (Super League notice, 2026-08-18): \"held 43,000 BTC as of August 18, 2026\". Same count at 2026-06-30 in the Q2 FY2026 Tanshin (https://contents.xj-storage.jp/xcontents/33500/ccef5126/8cc0/4501/b779/01892d97a274/140120260813519694.pdf). 2,100 BTC are to move in kind to Super League (a group subsidiary) in Q4 2026 — still inside the group.","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"metaplanet_bond_20","issuer_id":"metaplanet","issuer":"Metaplanet Inc.","ticker":null,"instrument_type":"straight_bond","seniority_rank":2,"seniority_source":"Unsecured and unguaranteed (https://contents.xj-storage.jp/xcontents/33500/1758d044/285f/4e65/93c0/04d9b3d9af96/140120260424510122.pdf); bonds rank ahead of the preferred and common shares — 半期報告書: \"優先株式及び普通株式に優先します\" (https://contents.xj-storage.jp/xcontents/33500/105354bc/b7b8/46a1/bbf8/e9088bc54d76/S100YWMP.pdf). Behind the BTC-secured facility to the extent of its collateral (structural).","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"20th Series of Ordinary Bonds","holder":"EVO FUND (entire issue)","security":"Guarantee: None. Collateral: None.","redemption":"at 100; holder put on 5 business days' notice; mandatory early redemption as EVO's cumulative funding reaches multiples of principal","stated_rate_pct":0},"maturity_date":"2027-04-23","liquidation_preference":null,"outstanding_amount":8000000000,"status":"outstanding","currency":"JPY","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":43000,"btc_holdings_as_of":"2026-08-18","btc_holdings_source":"https://contents.xj-storage.jp/xcontents/33500/c02155bd/0bd0/4333/ac51/6085aab46d18/140120260818522603.pdf (Super League notice, 2026-08-18): \"held 43,000 BTC as of August 18, 2026\". Same count at 2026-06-30 in the Q2 FY2026 Tanshin (https://contents.xj-storage.jp/xcontents/33500/ccef5126/8cc0/4501/b779/01892d97a274/140120260813519694.pdf). 2,100 BTC are to move in kind to Super League (a group subsidiary) in Q4 2026 — still inside the group.","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"metaplanet_class_b","issuer_id":"metaplanet","issuer":"Metaplanet Inc.","ticker":null,"instrument_type":"perpetual_preferred","seniority_rank":3,"seniority_source":"Articles (https://contents.xj-storage.jp/xcontents/33500/2dfc62c3/2fbd/4369/ad61/a401d6c68a69/140120250731526696.pdf): \"Class A Perpetual Preferred Shares shall be the first, Class B Perpetual Preferred Shares shall be the second, and Common Shares shall be the third\" — Class A is unissued, so nothing ranks between. Behind the bonds, which rank ahead of preferred and common (https://contents.xj-storage.jp/xcontents/33500/105354bc/b7b8/46a1/bbf8/e9088bc54d76/S100YWMP.pdf), and the secured facility.","cumulative":true,"rate_policy":"fixed","rate_policy_terms":{"title":"Class B Preferred Shares (\"MERCURY\")","listing":"unlisted (非上場); TSE listing in preliminary consultation. If not listed by the 20th business day after 2026-12-29, holders may put ALL shares at JPY 1,000 plus accumulated dividends","conversion":"convertible; initial conversion price JPY 1,000","issue_price":"JPY 900 per share; JPY 21,249,000,000 raised","stated_amount":"JPY 1,000 notional per share (liquidation preference)","stated_rate_pct":4.9,"dividend_payment":"quarterly, JPY 12.25 per share; record dates Mar 31, Jun 30, Sep 30, Dec 31"},"maturity_date":null,"liquidation_preference":1000,"outstanding_amount":23610000000,"status":"outstanding","currency":"JPY","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":43000,"btc_holdings_as_of":"2026-08-18","btc_holdings_source":"https://contents.xj-storage.jp/xcontents/33500/c02155bd/0bd0/4333/ac51/6085aab46d18/140120260818522603.pdf (Super League notice, 2026-08-18): \"held 43,000 BTC as of August 18, 2026\". Same count at 2026-06-30 in the Q2 FY2026 Tanshin (https://contents.xj-storage.jp/xcontents/33500/ccef5126/8cc0/4501/b779/01892d97a274/140120260813519694.pdf). 2,100 BTC are to move in kind to Super League (a group subsidiary) in Q4 2026 — still inside the group.","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"riot_btc_facility","issuer_id":"riot","issuer":"Riot Platforms, Inc.","ticker":null,"instrument_type":"credit_facility","seniority_rank":1,"seniority_source":"Secured on identified collateral. SEC EDGAR accession 0001558370-25-005568 (8-K, 2025-04-25, event 2025-04-22): \"The Company's obligations under the Credit Agreement are secured by a pledge of the Company's financial assets, including bitcoin, USDC and cash, held in the custody of Coinbase Custody Trust Company, LLC under a segregated custody account in the name of the Company. Such pledged financial assets shall not be used by the Lender to secure any other loan or account.\" SEC EDGAR accession 0001104659-26-022322 (10-K, period 2025-12-31), Note 12 Debt reports 3,977 BTC pledged at 2025-12-31. Ranks ahead of the unsecured 2030 Notes.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"index":"federal funds rate, upper limit, on the date of the applicable borrowing","lender":"Coinbase Credit, Inc. (lender, collateral agent and administrative agent)","custody":"Coinbase Custody Trust Company, LLC, segregated account in the name of the Company","formula":"UNTIL 2026-04-21: greater of (i) the federal funds rate, upper limit, on the date of the applicable borrowing and (ii) 3.25%, plus a margin of 4.50%","floor_pct":3.25,"ltv_table":{"source":"SEC EDGAR accession 0001558370-25-008138, Exhibit 10.1 (Amended and Restated Credit Agreement, 2025-05-19), Section 1.01 and Section 2.06, definition of LTV Table","columns":[{"name":"base","applies":"other than during a Deleveraging Trigger Period or Second Deleveraging Trigger Period","top_up_ltv_pct":70,"initial_ltv_pct":60,"release_ltv_pct":50,"liquidation_ltv_pct":80},{"name":"deleveraging","applies":"during any Deleveraging Trigger Period","top_up_ltv_pct":65,"initial_ltv_pct":55,"release_ltv_pct":45,"liquidation_ltv_pct":75},{"name":"second_deleveraging","applies":"during any Second Deleveraging Trigger Period","top_up_ltv_pct":60,"initial_ltv_pct":50,"release_ltv_pct":40,"liquidation_ltv_pct":70}]},"structure":"fixed","margin_pct":4.5,"fully_drawn":true,"facility_type":"multiple drawdown secured term loan","upsize_fee_usd":1000000,"implied_ltv_pct":57.5,"rate_fixed_from":"2026-04-21","rehypothecation":"prohibited — pledged assets shall not be used by the Lender to secure any other loan or account","stated_rate_pct":6.15,"upfront_fee_pct":1,"extension_option":"may request a further 364 days, no later than 90 days before the initial maturity date, subject to the consent of the Lender","margin_step_rule":"CORRECTION to the earlier record, which carried a flat 4.50%. SEC EDGAR accession 0001558370-25-008138, Exhibit 10.1 (Amended and Restated Credit Agreement, 2025-05-19), Section 1.01 and Section 2.06: \"Applicable Margin means (a) during any Second Deleveraging Trigger Period, 4.75% per annum and (b) otherwise, 4.50% per annum.\" THE LOAN REPRICES UPWARD IN STRESS — the spread widens by 25bp in the same condition that tightens every LTV threshold.","collateral_assets":"bitcoin, USDC and cash","implied_ltv_as_of":"2025-12-31","observed_rate_pct":8.3,"collateral_history":[{"btc":3977,"as_of":"2025-12-31","event":"initial pledge as reported at year end","fair_value_usd":347979000},{"btc":5802,"as_of":"2026-02-28","event":"MARGIN CALL. 1,825 additional BTC pledged \"due to the decline in bitcoin prices\" (SEC EDGAR accession 0001104659-26-022322 (10-K, period 2025-12-31), Note 12 Debt). Month-end date is the FILING'S month (\"In February 2026\"); the exact day is not stated."},{"btc":4258,"as_of":"2026-03-31","event":"1,544 BTC released (SEC EDGAR accession 0001104659-26-053120 (10-Q, period 2026-03-31)). Reconciles exactly: 3,977 + 1,825 - 1,544 = 4,258."},{"btc":5821,"as_of":"2026-06-30","event":"\"5,821 of the Company's bitcoin were pledged as collateral to secure the $200 Million Credit Facility\" (SEC EDGAR accession 0001104659-26-093448 (10-Q, period 2026-06-30), Debt note). +1,563 BTC on the quarter. The Debt note read does NOT say why — a top-up and a re-pledge under the 2026-04-21 agreement are both possible — so no event type is asserted."}],"margin_pct_stressed":4.75,"observed_rate_as_of":"2025-12-31","permitted_drawdowns":4,"trigger_definitions":"⚠ THE COLUMNS SHIFT ON THE COLLATERAL'S DRAWDOWN FROM ITS VALUE AT INCEPTION, NOT ON THE LTV RATIO — a natural misreading, and wrong. Deleveraging Trigger Period: any period from the day the Administrative Agent determines \"the Prevailing Market Value of the Collateral is less than 70% of the Initial Prevailing Market Value\", ending when it returns to or above the Initial Prevailing Market Value. Second Deleveraging Trigger Period: the same at \"less than 50% of the Initial Prevailing Market Value\", ending on a return to Initial PMV or when a (first) Deleveraging Trigger Period is in effect. Initial Prevailing Market Value is fixed at 9:00 a.m. New York time on the Original Effective Date.","floating_terms_until":"2026-04-21","actual_ltv_definition":"SEC EDGAR accession 0001558370-25-008138, Exhibit 10.1 (Amended and Restated Credit Agreement, 2025-05-19), Section 1.01 and Section 2.06: \"Actual LTV Ratio means, at any time, the ratio (expressed as a percentage) of (a) the principal amount of the Loan outstanding at such time to (b) the Prevailing Market Value of the Collateral at such time.\"","margin_call_mechanics":"SEC EDGAR accession 0001558370-25-008138, Exhibit 10.1 (Amended and Restated Credit Agreement, 2025-05-19), Section 1.01 and Section 2.06: a Margin Call Event occurs when the Actual LTV Ratio is on any Business Day at or above the Top Up LTV. The Administrative Agent may deliver a Margin Funding Notice within 2 Business Days; the Borrower must satisfy it by the Margin Funding Deadline, \"no later than the time falling twenty-four (24) hours after such Margin Funding Notice ... is received\". Additional Collateral is sized so that the Actual LTV Ratio is restored to the INITIAL LTV, not merely back under the Top Up LTV. Release runs the other way: collateral is released once the Actual LTV Ratio is at or below the Release LTV for at least two consecutive days. Reaching the Top Up LTV is also a Blocking Event, so withdrawals are barred while a call is live.","interest_expense_2025_usd":13200000,"distance_to_margin_call_pct":17.9,"distance_to_margin_call_as_of":"2025-12-31","distance_to_margin_call_basis":"DERIVED, and labelled so. At 2025-12-31 the Actual LTV Ratio was 200,000,000 / 347,979,000 = 57.5% against a base-column Top Up LTV of 70%. Collateral would have to fall to 200,000,000 / 0.70 = 285,714,286 for a call, i.e. a 17.9% decline in collateral value. This is arithmetic on filed figures and the agreement's own thresholds — it is NOT a filed number and must never be presented as one.","observed_behaviour_matches_schedule":"The collateral path in collateral_history is the mechanism above executing: +1,825 BTC in February 2026 \"due to the decline in bitcoin prices\" is a Top Up, and -1,544 BTC by 2026-03-31 is a Margin Release. Recorded as a QUALITATIVE match. The implied BTC prices are deliberately NOT back-solved from the thresholds; that would publish derived prices wearing filed authority."},"maturity_date":"2027-04-20","liquidation_preference":null,"outstanding_amount":200000000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":11380,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001104659-26-093448 (10-Q, period 2026-06-30, filed 2026-08-10), XBRL us-gaap:CryptoAssetNumberOfUnits, unit [item].","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"riot_2030_notes","issuer_id":"riot","issuer":"Riot Platforms, Inc.","ticker":null,"instrument_type":"convertible_note","seniority_rank":2,"seniority_source":"Titled \"Convertible Senior Notes\". Ranked below the $200 Million Credit Facility (rank 1), which SEC EDGAR accession 0001104659-26-022322 (10-K, period 2025-12-31), Note 12 Debt states is secured by pledged bitcoin held in segregated custody; no pledge is recorded against these notes. Structural, inferred from the pledge, not quoted from an intercreditor provision.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"0.75% Convertible Senior Notes due 2030","issuer_call":"not redeemable before January 20, 2028, and then only on certain events","stated_rate_pct":0.75,"fair_value_as_of":"2025-12-31","fair_value_level":1,"carrying_value_usd":582200000,"issuance_costs_usd":15200000,"carrying_value_as_of":"2025-12-31","interest_payment_dates":"January 15 and July 15, semiannually in arrears, beginning July 15, 2025","estimated_fair_value_usd":669600000},"maturity_date":"2030-01-15","liquidation_preference":null,"outstanding_amount":594383000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":11380,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001104659-26-093448 (10-Q, period 2026-06-30, filed 2026-08-10), XBRL us-gaap:CryptoAssetNumberOfUnits, unit [item].","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"sequans_debentures_2028","issuer_id":"sequans","issuer":"Sequans Communications S.A.","ticker":null,"instrument_type":"convertible_note","seniority_rank":1,"seniority_source":"Secured by its own title — \"secured convertible debentures\" (accession 0001383395-25-000057). Sole registered credit instrument of this issuer, so no ranking against a sibling arises. Now retired.","cumulative":null,"rate_policy":null,"rate_policy_terms":{"secured":true,"structure":"undisclosed_in_filings_read","gross_proceeds_usd":181000000,"original_principal_usd":189000000,"original_issue_discount_pct":4},"maturity_date":"2028-07-07","liquidation_preference":null,"outstanding_amount":null,"status":"retired","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":0,"btc_holdings_as_of":"2026-09-24","btc_holdings_source":"SEC EDGAR accession 0001383395-26-000110 (6-K, 2026-09-24), Exhibit 99.1: \"Sequans has sold the remaining 314 Bitcoin held on its balance sheet as of June 30, 2026, completing the treasury exit\". Zero from the announcement date; the latest-dated filed figure wins (operator; 2026-10-09).","issuer_preferred_outstanding_usd":null,"issuer_preferred_shares_outstanding":null,"issuer_preferred_outstanding_as_of":null,"issuer_preferred_outstanding_source":null,"trailing":[],"returns":[]},{"instrument_id":"strategy_conv_2029","issuer_id":"strategy","issuer":"Strategy Inc","ticker":null,"instrument_type":"convertible_note","seniority_rank":1,"seniority_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), R13 Long-term Debt: \"The Outstanding Convertible Notes are ... senior unsecured obligations of the Company ... equal in right of payment to any of the Company's unsecured indebtedness not so subordinated; effectively junior in right of payment to any of the Company's secured indebtedness to the extent of the value of the assets securing such indebtedness\". Rank 1 of the registered stack, pari passu with the other five series. Senior to every preferred because the preferreds are EQUITY (mezzanine) and debt is paid before equity in liquidation — a structural ordering, not a quoted subordination clause. Junior to the issuer's other long-term secured debt (39; 800 thousand at 2026-06-30), which is not registered here.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"2029 Convertible Notes","stated_rate_pct":0,"holder_put_option":"June 1, 2028","effective_rate_pct":0.24,"interest_payment_dates":"June 1 & December 1","original_principal_usd":3000000000,"issuance_month_as_filed":"November 2024","issuer_redemption_not_before":"December 4, 2026"},"maturity_date":"2029-12-01","liquidation_preference":null,"outstanding_amount":1500000000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":843775,"btc_holdings_as_of":"2026-07-24","btc_holdings_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history.","issuer_preferred_outstanding_usd":15462056000,"issuer_preferred_shares_outstanding":153529000,"issuer_preferred_outstanding_as_of":"2026-06-30","issuer_preferred_outstanding_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), XBRL us-gaap:TemporaryEquityLiquidationPreference (15,462,056,000 USD) and us-gaap:TemporaryEquitySharesOutstanding (153,529,000 shares). AGGREGATE across all four series (STRK, STRF, STRD, STRC) — the series collapse into one undimensioned observation, so this is not four instrument sizes and must not be divided across them. Redeemable preferred sits in mezzanine equity, so us-gaap:PreferredStockSharesOutstanding reads 0 for this filer and that zero is correct Cross-check: 153,529,000 x the 100 USD per-share stated value = 15.353bn against 15.462bn reported; the gap is accrued unpaid dividends, which is why the liquidation preference is the size and the 100 USD is a price. SCOPE: this aggregate is the issuer full preferred stack and INCLUDES the EUR-denominated STRE Stock at USD 884,120,000 as translated by the issuer. The USD-denominated subtotal, which is what this product covers, is 14,577,936,000 across STRF, STRC, STRK and STRD.","trailing":[],"returns":[]},{"instrument_id":"strategy_conv_2030a","issuer_id":"strategy","issuer":"Strategy Inc","ticker":null,"instrument_type":"convertible_note","seniority_rank":1,"seniority_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), R13 Long-term Debt: \"The Outstanding Convertible Notes are ... senior unsecured obligations of the Company ... equal in right of payment to any of the Company's unsecured indebtedness not so subordinated; effectively junior in right of payment to any of the Company's secured indebtedness to the extent of the value of the assets securing such indebtedness\". Rank 1 of the registered stack, pari passu with the other five series. Senior to every preferred because the preferreds are EQUITY (mezzanine) and debt is paid before equity in liquidation — a structural ordering, not a quoted subordination clause. Junior to the issuer's other long-term secured debt (39; 800 thousand at 2026-06-30), which is not registered here.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"2030A Convertible Notes","stated_rate_pct":0.625,"holder_put_option":"September 15, 2028","effective_rate_pct":1.14,"interest_payment_dates":"March 15 & September 15","original_principal_usd":800000000,"issuance_month_as_filed":"March 2024","issuer_redemption_not_before":"March 22, 2027"},"maturity_date":"2030-03-15","liquidation_preference":null,"outstanding_amount":800000000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":843775,"btc_holdings_as_of":"2026-07-24","btc_holdings_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history.","issuer_preferred_outstanding_usd":15462056000,"issuer_preferred_shares_outstanding":153529000,"issuer_preferred_outstanding_as_of":"2026-06-30","issuer_preferred_outstanding_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), XBRL us-gaap:TemporaryEquityLiquidationPreference (15,462,056,000 USD) and us-gaap:TemporaryEquitySharesOutstanding (153,529,000 shares). AGGREGATE across all four series (STRK, STRF, STRD, STRC) — the series collapse into one undimensioned observation, so this is not four instrument sizes and must not be divided across them. Redeemable preferred sits in mezzanine equity, so us-gaap:PreferredStockSharesOutstanding reads 0 for this filer and that zero is correct Cross-check: 153,529,000 x the 100 USD per-share stated value = 15.353bn against 15.462bn reported; the gap is accrued unpaid dividends, which is why the liquidation preference is the size and the 100 USD is a price. SCOPE: this aggregate is the issuer full preferred stack and INCLUDES the EUR-denominated STRE Stock at USD 884,120,000 as translated by the issuer. The USD-denominated subtotal, which is what this product covers, is 14,577,936,000 across STRF, STRC, STRK and STRD.","trailing":[],"returns":[]},{"instrument_id":"strategy_conv_2028","issuer_id":"strategy","issuer":"Strategy Inc","ticker":null,"instrument_type":"convertible_note","seniority_rank":1,"seniority_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), R13 Long-term Debt: \"The Outstanding Convertible Notes are ... senior unsecured obligations of the Company ... equal in right of payment to any of the Company's unsecured indebtedness not so subordinated; effectively junior in right of payment to any of the Company's secured indebtedness to the extent of the value of the assets securing such indebtedness\". Rank 1 of the registered stack, pari passu with the other five series. Senior to every preferred because the preferreds are EQUITY (mezzanine) and debt is paid before equity in liquidation — a structural ordering, not a quoted subordination clause. Junior to the issuer's other long-term secured debt (39; 800 thousand at 2026-06-30), which is not registered here.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"2028 Convertible Notes","stated_rate_pct":0.625,"holder_put_option":"September 15, 2027","effective_rate_pct":1.05,"interest_payment_dates":"March 15 & September 15","original_principal_usd":1010000000,"issuance_month_as_filed":"September 2024","issuer_redemption_not_before":"December 20, 2027"},"maturity_date":"2028-09-15","liquidation_preference":null,"outstanding_amount":1010000000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":843775,"btc_holdings_as_of":"2026-07-24","btc_holdings_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history.","issuer_preferred_outstanding_usd":15462056000,"issuer_preferred_shares_outstanding":153529000,"issuer_preferred_outstanding_as_of":"2026-06-30","issuer_preferred_outstanding_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), XBRL us-gaap:TemporaryEquityLiquidationPreference (15,462,056,000 USD) and us-gaap:TemporaryEquitySharesOutstanding (153,529,000 shares). AGGREGATE across all four series (STRK, STRF, STRD, STRC) — the series collapse into one undimensioned observation, so this is not four instrument sizes and must not be divided across them. Redeemable preferred sits in mezzanine equity, so us-gaap:PreferredStockSharesOutstanding reads 0 for this filer and that zero is correct Cross-check: 153,529,000 x the 100 USD per-share stated value = 15.353bn against 15.462bn reported; the gap is accrued unpaid dividends, which is why the liquidation preference is the size and the 100 USD is a price. SCOPE: this aggregate is the issuer full preferred stack and INCLUDES the EUR-denominated STRE Stock at USD 884,120,000 as translated by the issuer. The USD-denominated subtotal, which is what this product covers, is 14,577,936,000 across STRF, STRC, STRK and STRD.","trailing":[],"returns":[]},{"instrument_id":"strategy_conv_2031","issuer_id":"strategy","issuer":"Strategy Inc","ticker":null,"instrument_type":"convertible_note","seniority_rank":1,"seniority_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), R13 Long-term Debt: \"The Outstanding Convertible Notes are ... senior unsecured obligations of the Company ... equal in right of payment to any of the Company's unsecured indebtedness not so subordinated; effectively junior in right of payment to any of the Company's secured indebtedness to the extent of the value of the assets securing such indebtedness\". Rank 1 of the registered stack, pari passu with the other five series. Senior to every preferred because the preferreds are EQUITY (mezzanine) and debt is paid before equity in liquidation — a structural ordering, not a quoted subordination clause. Junior to the issuer's other long-term secured debt (39; 800 thousand at 2026-06-30), which is not registered here.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"2031 Convertible Notes","stated_rate_pct":0.875,"holder_put_option":"September 15, 2028","effective_rate_pct":1.3,"interest_payment_dates":"March 15 & September 15","original_principal_usd":603750000,"issuance_month_as_filed":"March 2024","issuer_redemption_not_before":"March 22, 2028"},"maturity_date":"2031-03-15","liquidation_preference":null,"outstanding_amount":603659000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":843775,"btc_holdings_as_of":"2026-07-24","btc_holdings_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history.","issuer_preferred_outstanding_usd":15462056000,"issuer_preferred_shares_outstanding":153529000,"issuer_preferred_outstanding_as_of":"2026-06-30","issuer_preferred_outstanding_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), XBRL us-gaap:TemporaryEquityLiquidationPreference (15,462,056,000 USD) and us-gaap:TemporaryEquitySharesOutstanding (153,529,000 shares). AGGREGATE across all four series (STRK, STRF, STRD, STRC) — the series collapse into one undimensioned observation, so this is not four instrument sizes and must not be divided across them. Redeemable preferred sits in mezzanine equity, so us-gaap:PreferredStockSharesOutstanding reads 0 for this filer and that zero is correct Cross-check: 153,529,000 x the 100 USD per-share stated value = 15.353bn against 15.462bn reported; the gap is accrued unpaid dividends, which is why the liquidation preference is the size and the 100 USD is a price. SCOPE: this aggregate is the issuer full preferred stack and INCLUDES the EUR-denominated STRE Stock at USD 884,120,000 as translated by the issuer. The USD-denominated subtotal, which is what this product covers, is 14,577,936,000 across STRF, STRC, STRK and STRD.","trailing":[],"returns":[]},{"instrument_id":"strategy_conv_2030b","issuer_id":"strategy","issuer":"Strategy Inc","ticker":null,"instrument_type":"convertible_note","seniority_rank":1,"seniority_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), R13 Long-term Debt: \"The Outstanding Convertible Notes are ... senior unsecured obligations of the Company ... equal in right of payment to any of the Company's unsecured indebtedness not so subordinated; effectively junior in right of payment to any of the Company's secured indebtedness to the extent of the value of the assets securing such indebtedness\". Rank 1 of the registered stack, pari passu with the other five series. Senior to every preferred because the preferreds are EQUITY (mezzanine) and debt is paid before equity in liquidation — a structural ordering, not a quoted subordination clause. Junior to the issuer's other long-term secured debt (39; 800 thousand at 2026-06-30), which is not registered here.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"2030B Convertible Notes","stated_rate_pct":0,"holder_put_option":"March 1, 2028","effective_rate_pct":0.25,"interest_payment_dates":"March 1 & September 1","original_principal_usd":2000000000,"issuance_month_as_filed":"February 2025","issuer_redemption_not_before":"March 5, 2027"},"maturity_date":"2030-03-01","liquidation_preference":null,"outstanding_amount":2000000000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":843775,"btc_holdings_as_of":"2026-07-24","btc_holdings_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history.","issuer_preferred_outstanding_usd":15462056000,"issuer_preferred_shares_outstanding":153529000,"issuer_preferred_outstanding_as_of":"2026-06-30","issuer_preferred_outstanding_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), XBRL us-gaap:TemporaryEquityLiquidationPreference (15,462,056,000 USD) and us-gaap:TemporaryEquitySharesOutstanding (153,529,000 shares). AGGREGATE across all four series (STRK, STRF, STRD, STRC) — the series collapse into one undimensioned observation, so this is not four instrument sizes and must not be divided across them. Redeemable preferred sits in mezzanine equity, so us-gaap:PreferredStockSharesOutstanding reads 0 for this filer and that zero is correct Cross-check: 153,529,000 x the 100 USD per-share stated value = 15.353bn against 15.462bn reported; the gap is accrued unpaid dividends, which is why the liquidation preference is the size and the 100 USD is a price. SCOPE: this aggregate is the issuer full preferred stack and INCLUDES the EUR-denominated STRE Stock at USD 884,120,000 as translated by the issuer. The USD-denominated subtotal, which is what this product covers, is 14,577,936,000 across STRF, STRC, STRK and STRD.","trailing":[],"returns":[]},{"instrument_id":"strategy_conv_2032","issuer_id":"strategy","issuer":"Strategy Inc","ticker":null,"instrument_type":"convertible_note","seniority_rank":1,"seniority_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), R13 Long-term Debt: \"The Outstanding Convertible Notes are ... senior unsecured obligations of the Company ... equal in right of payment to any of the Company's unsecured indebtedness not so subordinated; effectively junior in right of payment to any of the Company's secured indebtedness to the extent of the value of the assets securing such indebtedness\". Rank 1 of the registered stack, pari passu with the other five series. Senior to every preferred because the preferreds are EQUITY (mezzanine) and debt is paid before equity in liquidation — a structural ordering, not a quoted subordination clause. Junior to the issuer's other long-term secured debt (39; 800 thousand at 2026-06-30), which is not registered here.","cumulative":null,"rate_policy":"fixed","rate_policy_terms":{"title":"2032 Convertible Notes","stated_rate_pct":2.25,"holder_put_option":"June 15, 2029","effective_rate_pct":2.63,"interest_payment_dates":"June 15 & December 15","original_principal_usd":800000000,"issuance_month_as_filed":"June 2024","issuer_redemption_not_before":"June 20, 2029"},"maturity_date":"2032-06-15","liquidation_preference":null,"outstanding_amount":800000000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":843775,"btc_holdings_as_of":"2026-07-24","btc_holdings_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history.","issuer_preferred_outstanding_usd":15462056000,"issuer_preferred_shares_outstanding":153529000,"issuer_preferred_outstanding_as_of":"2026-06-30","issuer_preferred_outstanding_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), XBRL us-gaap:TemporaryEquityLiquidationPreference (15,462,056,000 USD) and us-gaap:TemporaryEquitySharesOutstanding (153,529,000 shares). AGGREGATE across all four series (STRK, STRF, STRD, STRC) — the series collapse into one undimensioned observation, so this is not four instrument sizes and must not be divided across them. Redeemable preferred sits in mezzanine equity, so us-gaap:PreferredStockSharesOutstanding reads 0 for this filer and that zero is correct Cross-check: 153,529,000 x the 100 USD per-share stated value = 15.353bn against 15.462bn reported; the gap is accrued unpaid dividends, which is why the liquidation preference is the size and the 100 USD is a price. SCOPE: this aggregate is the issuer full preferred stack and INCLUDES the EUR-denominated STRE Stock at USD 884,120,000 as translated by the issuer. The USD-denominated subtotal, which is what this product covers, is 14,577,936,000 across STRF, STRC, STRK and STRD.","trailing":[],"returns":[]},{"instrument_id":"strategy_strf","issuer_id":"strategy","issuer":"Strategy Inc","ticker":"STRF","instrument_type":"perpetual_preferred","seniority_rank":2,"seniority_source":"Junior to all six registered Strategy convertible notes (rank 1), which are senior unsecured debt per SEC EDGAR accession 0001050446-26-000044, R13 — debt ahead of equity, a structural ordering. Most senior of the registered preferred stack. SEC EDGAR accession 0001193125-25-062523, EX-3.1, states \"Liquidation Junior Stock includes the Class A Common Stock, the Class B Common Stock and the Company's outstanding Perpetual Strike Preferred Stock\". Corroborated from both junior sides: accession 0001193125-25-138477 (STRD) and accession 0001193125-25-167987 (STRC) each name STRF as Liquidation Senior Stock. No registered PREFERRED ranks senior to it; the convertible notes do.","cumulative":true,"rate_policy":"fixed","rate_policy_terms":{"title":"10.00% Series A Perpetual Strife Preferred Stock","payable":"solely in cash","stated_rate_pct":10,"dividend_payment":"quarterly in arrears"},"maturity_date":null,"liquidation_preference":100,"outstanding_amount":1283969000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":103.42,"declared_rate":10,"effective_yield":9.669309611293754,"attachment_point":0.11596561515773883,"coverage_ratio":8.62324576677129,"coverage_as_of":"2026-07-24","price_date":"2026-10-12","price_source":"iex_hist","confidence":"last_sale","btc_holdings":843775,"btc_holdings_as_of":"2026-07-24","btc_holdings_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history.","issuer_preferred_outstanding_usd":15462056000,"issuer_preferred_shares_outstanding":153529000,"issuer_preferred_outstanding_as_of":"2026-06-30","issuer_preferred_outstanding_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), XBRL us-gaap:TemporaryEquityLiquidationPreference (15,462,056,000 USD) and us-gaap:TemporaryEquitySharesOutstanding (153,529,000 shares). AGGREGATE across all four series (STRK, STRF, STRD, STRC) — the series collapse into one undimensioned observation, so this is not four instrument sizes and must not be divided across them. Redeemable preferred sits in mezzanine equity, so us-gaap:PreferredStockSharesOutstanding reads 0 for this filer and that zero is correct Cross-check: 153,529,000 x the 100 USD per-share stated value = 15.353bn against 15.462bn reported; the gap is accrued unpaid dividends, which is why the liquidation preference is the size and the 100 USD is a price. SCOPE: this aggregate is the issuer full preferred stack and INCLUDES the EUR-denominated STRE Stock at USD 884,120,000 as translated by the issuer. The USD-denominated subtotal, which is what this product covers, is 14,577,936,000 across STRF, STRC, STRK and STRD.","trailing":[{"window_days":7,"observations":4,"window_start":"2026-10-07","mean_effective_yield":9.6894,"mean_declared_rate":10,"min_effective_yield":9.6693,"max_effective_yield":9.7078,"covers_full_window":true},{"window_days":14,"observations":9,"window_start":"2026-09-29","mean_effective_yield":9.6719,"mean_declared_rate":10,"min_effective_yield":9.6256,"max_effective_yield":9.7078,"covers_full_window":true},{"window_days":30,"observations":20,"window_start":"2026-09-14","mean_effective_yield":9.6621,"mean_declared_rate":10,"min_effective_yield":9.5735,"max_effective_yield":9.7466,"covers_full_window":true},{"window_days":60,"observations":40,"window_start":"2026-08-14","mean_effective_yield":9.7774,"mean_declared_rate":10,"min_effective_yield":9.5735,"max_effective_yield":10.4167,"covers_full_window":true},{"window_days":90,"observations":61,"window_start":"2026-07-15","mean_effective_yield":9.9808,"mean_declared_rate":10,"min_effective_yield":9.5735,"max_effective_yield":10.523,"covers_full_window":true},{"window_days":180,"observations":122,"window_start":"2026-04-16","mean_effective_yield":10.1427,"mean_declared_rate":10,"min_effective_yield":9.5735,"max_effective_yield":11.9446,"covers_full_window":true},{"window_days":365,"observations":249,"window_start":"2025-10-13","mean_effective_yield":9.9264,"mean_declared_rate":10,"min_effective_yield":8.9047,"max_effective_yield":11.9446,"covers_full_window":true}],"returns":[{"period":"1m","entry_date":"2026-09-11","days_held":31,"entry_price":103.94,"exit_price":103.42,"income_per_share":0.8493,"income_pct":0.8171,"price_pct":-0.5003,"total_pct":0.3168,"income_annualised":9.6209,"total_annualised":3.7304,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":true},{"period":"2m","entry_date":"2026-08-12","days_held":61,"entry_price":96.22,"exit_price":103.42,"income_per_share":1.6712,"income_pct":1.7369,"price_pct":7.4829,"total_pct":9.2197,"income_annualised":10.3928,"total_annualised":55.1673,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":true},{"period":"3m","entry_date":"2026-07-10","days_held":94,"entry_price":95.89,"exit_price":103.42,"income_per_share":2.5753,"income_pct":2.6857,"price_pct":7.8527,"total_pct":10.5385,"income_annualised":10.4286,"total_annualised":40.9207,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"6m","entry_date":"2026-04-10","days_held":185,"entry_price":97.02,"exit_price":103.42,"income_per_share":5.0685,"income_pct":5.2242,"price_pct":6.5966,"total_pct":11.8208,"income_annualised":10.3072,"total_annualised":23.322,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"12m","entry_date":"2025-10-10","days_held":367,"entry_price":114.57,"exit_price":103.42,"income_per_share":10.0548,"income_pct":8.7761,"price_pct":-9.732,"total_pct":-0.9559,"income_annualised":8.7283,"total_annualised":-0.9507,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"inception","entry_date":"2025-03-27","days_held":564,"entry_price":92.41,"exit_price":103.42,"income_per_share":15.4521,"income_pct":16.7212,"price_pct":11.9143,"total_pct":28.6355,"income_annualised":10.8213,"total_annualised":18.5318,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false}]},{"instrument_id":"strategy_strc","issuer_id":"strategy","issuer":"Strategy Inc","ticker":"STRC","instrument_type":"perpetual_preferred","seniority_rank":3,"seniority_source":"Junior to all six registered Strategy convertible notes (rank 1), which are senior unsecured debt per SEC EDGAR accession 0001050446-26-000044, R13 — debt ahead of equity, a structural ordering. Among the preferreds: SEC EDGAR accession 0001193125-25-167987, EX-3.1, which establishes its position from both sides in its own text: \"Liquidation Senior Stock includes the Perpetual Strife Preferred Stock\" and \"Liquidation Junior Stock includes the Class A Common Stock, the Class B Common Stock, the Perpetual Strike Preferred Stock and the Perpetual Stride Preferred Stock\". Junior only to STRF; senior to STRK and STRD.","cumulative":true,"rate_policy":"variable_administered_feedback","rate_policy_terms":{"title":"Variable Rate Series A Perpetual Stretch Preferred Stock","ratchet":[{"band":"below 95.00","action":"increase 50bp or more"},{"band":"95.00 to 98.99","action":"increase 25bp or more"},{"band":"99.00 to 100.99","action":"no change anticipated; discretionary minor change of 25bp either way"},{"band":"101.00 and above","action":"decrease 25bp, or more if one-month term SOFR declined during the month, subject to the reduction cap in the prospectus and certificate of designations; and/or a follow-on offering"}],"variable":true,"discretion":"All recommendations are subject to board approval, may be adjusted for prevailing market conditions, and the framework may be changed or suspended at the issuer's sole discretion. This is why the mechanism is administered_price_feedback and not a formula: the price sets a recommendation, not the rate.","par_anchor":100,"compounding":"The certificate provides for Compounded Dividends that accumulate into Regular Dividends.","reset_input":"The volume-weighted average price (VWAP) of STRC for the month. Note that the VWAP is the INPUT to the issuer's rate rule; it is not itself published as a price series - see the W8b-interim finding recorded against this registry.","sofr_linkage":"The upper band references one-month term SOFR, so the ratchet is not purely BTC-credit-internal - a fiat rate enters the downward adjustment.","reset_cadence":"monthly","stated_intent":"\"This structured approach is intended to maintain the trading price of STRC Stock near its $100 per share stated amount.\" The issuer states no assurance it will.","declared_rates":[{"from":"2025-07-29","source":"SEC EDGAR accession 0001193125-25-193487 (8-K, 2025-08-31): \"increased the regular dividend rate per annum ... from 9.00% to 10.00%\" — the rate from issue (2025-07-29) until then.","rate_pct":9},{"from":"2025-09-01","source":"SEC EDGAR accession 0001193125-25-193487 (8-K, 2025-08-31), \"from 9.00% to 10.00% effective for monthly periods commencing on or after September 1, 2025\"","rate_pct":10},{"from":"2025-10-01","source":"SEC EDGAR accession 0001193125-25-225038 (8-K, 2025-09-30), \"from 10.00% to 10.25% effective for monthly periods commencing on or after October 1, 2025\"","rate_pct":10.25},{"from":"2025-11-01","source":"SEC EDGAR accession 0001193125-25-258690 (8-K, 2025-10-30), \"from 10.25% to 10.50% effective for monthly periods commencing on or after November 1, 2025\"","rate_pct":10.5},{"from":"2025-12-01","source":"SEC EDGAR accession 0001193125-25-303157 (8-K, 2025-11-30), \"effective for monthly periods commencing on or after December 1, 2025 from 10.50% to 10.75%\"","rate_pct":10.75},{"from":"2026-01-01","source":"SEC EDGAR accession 0001193125-26-000264 (8-K), \"effective for monthly periods commencing on or after January 1, 2026 from 10.75% to 11.00%\"","rate_pct":11},{"from":"2026-02-01","source":"SEC EDGAR accession 0001193125-26-032731 (8-K, 2026-01-31), \"effective for monthly periods commencing on or after February 1, 2026 from 11.00% to 11.25%\"","rate_pct":11.25},{"from":"2026-03-01","source":"SEC EDGAR accession 0001193125-26-084264 (8-K, 2026-02-28), \"effective for monthly periods commencing on or after March 1, 2026 from 11.25% to 11.50%\"","rate_pct":11.5},{"from":"2026-04-01","source":"SEC EDGAR accession 0001193125-26-135765 (8-K, 2026-04-01), \"maintain ... effective for monthly periods commencing on or after April 1, 2026 at 11.50%\"","rate_pct":11.5},{"from":"2026-05-01","source":"SEC EDGAR accession 0001193125-26-199155 (8-K, 2026-05-01), \"maintain ... effective for monthly periods commencing on or after May 1, 2026 at 11.50%\"","rate_pct":11.5},{"from":"2026-06-01","source":"SEC EDGAR accession 0001193125-26-249768 (8-K, 2026-06-01), \"maintain ... effective for monthly periods commencing on or after June 1, 2026 at 11.50%\"","rate_pct":11.5},{"from":"2026-07-01","source":"SEC EDGAR accession 0001193125-26-286871 (8-K, 2026-06-29), \"increase the regular dividend rate per annum ... effective for semi-monthly periods with record dates on or after July 1, 2026, to 12.00%\". SUPERSEDES the 11.50% that accession 0001193125-26-270366 (2026-06-15) had stated for \"the semi-monthly period ending July 15, 2026\" — the later filing covers that period's record date.","rate_pct":12},{"from":"2026-08-16","source":"SEC EDGAR accession 0001193125-26-329565 (8-K, 2026-08-03), \"maintain ... effective for semi-monthly periods commencing on or after August 16, 2026 at 12.00%\"","rate_pct":12},{"from":"2026-09-16","source":"SEC EDGAR accession 0001193125-26-377583 (8-K, 2026-09-01), \"maintain ... effective for semi-monthly periods commencing on or after September 16, 2026 at 12.00%\"","rate_pct":12}],"mechanism_note":"§4.4.3 / C2 type specimen for rate_mechanism administered_price_feedback: board-set, ratchet triggers referenced to par, market verdict expressed as discount to par rather than through the rate. The framework below is that mechanism in the issuer's own words.","ratchet_source":"SEC EDGAR accession 0001050446-26-000012, 8-K filed 2026-02-05, \"Dividend Adjustment Framework\". Supersedes any earlier framework.","declared_rates_known_through":"2026-09-30"},"maturity_date":null,"liquidation_preference":100,"outstanding_amount":10489471000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":99.9,"declared_rate":null,"effective_yield":null,"attachment_point":0.26806295666877955,"coverage_ratio":3.7304669486116535,"coverage_as_of":"2026-07-24","price_date":"2026-10-12","price_source":"iex_hist","confidence":"last_sale","btc_holdings":843775,"btc_holdings_as_of":"2026-07-24","btc_holdings_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history.","issuer_preferred_outstanding_usd":15462056000,"issuer_preferred_shares_outstanding":153529000,"issuer_preferred_outstanding_as_of":"2026-06-30","issuer_preferred_outstanding_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), XBRL us-gaap:TemporaryEquityLiquidationPreference (15,462,056,000 USD) and us-gaap:TemporaryEquitySharesOutstanding (153,529,000 shares). AGGREGATE across all four series (STRK, STRF, STRD, STRC) — the series collapse into one undimensioned observation, so this is not four instrument sizes and must not be divided across them. Redeemable preferred sits in mezzanine equity, so us-gaap:PreferredStockSharesOutstanding reads 0 for this filer and that zero is correct Cross-check: 153,529,000 x the 100 USD per-share stated value = 15.353bn against 15.462bn reported; the gap is accrued unpaid dividends, which is why the liquidation preference is the size and the 100 USD is a price. SCOPE: this aggregate is the issuer full preferred stack and INCLUDES the EUR-denominated STRE Stock at USD 884,120,000 as translated by the issuer. The USD-denominated subtotal, which is what this product covers, is 14,577,936,000 across STRF, STRC, STRK and STRD.","trailing":[{"window_days":7,"observations":5,"window_start":"2026-10-06","mean_effective_yield":null,"mean_declared_rate":null,"min_effective_yield":null,"max_effective_yield":null,"covers_full_window":true},{"window_days":14,"observations":10,"window_start":"2026-09-29","mean_effective_yield":12.0646,"mean_declared_rate":12,"min_effective_yield":12.0506,"max_effective_yield":12.0785,"covers_full_window":true},{"window_days":30,"observations":21,"window_start":"2026-09-14","mean_effective_yield":12.1736,"mean_declared_rate":12,"min_effective_yield":12.0506,"max_effective_yield":12.3648,"covers_full_window":true},{"window_days":60,"observations":41,"window_start":"2026-08-14","mean_effective_yield":12.3107,"mean_declared_rate":12,"min_effective_yield":12.0506,"max_effective_yield":12.7537,"covers_full_window":true},{"window_days":90,"observations":63,"window_start":"2026-07-15","mean_effective_yield":12.7151,"mean_declared_rate":12,"min_effective_yield":12.0506,"max_effective_yield":14.126,"covers_full_window":true},{"window_days":180,"observations":124,"window_start":"2026-04-16","mean_effective_yield":12.503,"mean_declared_rate":11.7759,"min_effective_yield":11.5,"max_effective_yield":15.3949,"covers_full_window":true},{"window_days":365,"observations":251,"window_start":"2025-10-13","mean_effective_yield":11.7528,"mean_declared_rate":11.3477,"min_effective_yield":10.3098,"max_effective_yield":15.3949,"covers_full_window":true}],"returns":[{"period":"1m","entry_date":"2026-09-11","days_held":31,"entry_price":98.64,"exit_price":99.9,"income_per_share":0.6247,"income_pct":0.6333,"price_pct":1.2774,"total_pct":1.9106,"income_annualised":7.4562,"total_annualised":22.4963,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":true},{"period":"2m","entry_date":"2026-08-12","days_held":61,"entry_price":95.27,"exit_price":99.9,"income_per_share":1.611,"income_pct":1.6909,"price_pct":4.8599,"total_pct":6.5508,"income_annualised":10.1179,"total_annualised":39.1975,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":true},{"period":"3m","entry_date":"2026-07-10","days_held":94,"entry_price":87.48,"exit_price":99.9,"income_per_share":2.6959,"income_pct":3.0817,"price_pct":14.1975,"total_pct":17.2793,"income_annualised":11.9663,"total_annualised":67.095,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"6m","entry_date":"2026-04-10","days_held":185,"entry_price":100,"exit_price":99.9,"income_per_share":5.5767,"income_pct":5.5767,"price_pct":-0.1,"total_pct":5.4767,"income_annualised":11.0027,"total_annualised":10.8054,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"12m","entry_date":"2025-10-10","days_held":367,"entry_price":98.68,"exit_price":99.9,"income_per_share":11.0281,"income_pct":11.1756,"price_pct":1.2363,"total_pct":12.4119,"income_annualised":11.1147,"total_annualised":12.3443,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"inception","entry_date":"2025-07-31","days_held":438,"entry_price":94.5,"exit_price":99.9,"income_per_share":12.8925,"income_pct":13.6428,"price_pct":5.7143,"total_pct":19.3571,"income_annualised":11.369,"total_annualised":16.1309,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false}]},{"instrument_id":"strategy_stre","issuer_id":"strategy","issuer":"Strategy Inc","ticker":null,"instrument_type":"perpetual_preferred","seniority_rank":4,"seniority_source":"Junior to the six convertible notes (rank 1, debt ahead of equity), and per its Certificate of Designations, SEC EDGAR accession 0001193125-25-280178, EX-3.1: \"Liquidation Senior Stock includes the Perpetual Strife Preferred Stock and the Perpetual Stretch Preferred Stock\" (STRF rank 2, STRC rank 3) and \"Liquidation Junior Stock includes the Class A Common Stock, the Class B Common Stock, the Perpetual Strike Preferred Stock and the Perpetual Stride Preferred Stock\" (STRK rank 5, STRD rank 6). The registry previously cited 0001193125-25-272591 for this ranking; that accession is the 424B5 prospectus, not the certificate.","cumulative":true,"rate_policy":"fixed","rate_policy_terms":{"title":"10.00% Series A Perpetual Stream Preferred Stock","listing":"Luxembourg Stock Exchange, Euro MTF, symbol STRE (0001193125-25-272591, 424B5) — not priced here: EODHD is read for the US listing only","stated_amount":"EUR 100 per share","stated_rate_pct":10,"dividend_payment":"quarterly in arrears (Mar 31, Jun 30, Sep 30, Dec 31)"},"maturity_date":null,"liquidation_preference":100,"outstanding_amount":775000000,"status":"outstanding","currency":"EUR","usd_translation":884120000,"close_price":null,"declared_rate":null,"effective_yield":null,"attachment_point":null,"coverage_ratio":null,"coverage_as_of":null,"price_date":null,"price_source":null,"confidence":null,"btc_holdings":843775,"btc_holdings_as_of":"2026-07-24","btc_holdings_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history.","issuer_preferred_outstanding_usd":15462056000,"issuer_preferred_shares_outstanding":153529000,"issuer_preferred_outstanding_as_of":"2026-06-30","issuer_preferred_outstanding_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), XBRL us-gaap:TemporaryEquityLiquidationPreference (15,462,056,000 USD) and us-gaap:TemporaryEquitySharesOutstanding (153,529,000 shares). AGGREGATE across all four series (STRK, STRF, STRD, STRC) — the series collapse into one undimensioned observation, so this is not four instrument sizes and must not be divided across them. Redeemable preferred sits in mezzanine equity, so us-gaap:PreferredStockSharesOutstanding reads 0 for this filer and that zero is correct Cross-check: 153,529,000 x the 100 USD per-share stated value = 15.353bn against 15.462bn reported; the gap is accrued unpaid dividends, which is why the liquidation preference is the size and the 100 USD is a price. SCOPE: this aggregate is the issuer full preferred stack and INCLUDES the EUR-denominated STRE Stock at USD 884,120,000 as translated by the issuer. The USD-denominated subtotal, which is what this product covers, is 14,577,936,000 across STRF, STRC, STRK and STRD.","trailing":[],"returns":[]},{"instrument_id":"strategy_strk","issuer_id":"strategy","issuer":"Strategy Inc","ticker":"STRK","instrument_type":"perpetual_preferred","seniority_rank":5,"seniority_source":"Junior to all six registered Strategy convertible notes (rank 1), which are senior unsecured debt per SEC EDGAR accession 0001050446-26-000044, R13 — debt ahead of equity, a structural ordering. Among the preferreds: liquidation ranking, established by the later series' certificates rather than its own (STRK was first issued, so its own certificate names no preferred sibling): SEC EDGAR accession 0001193125-25-062523 (STRF) states \"Liquidation Junior Stock includes the Class A Common Stock, the Class B Common Stock and the Company's outstanding Perpetual Strike Preferred Stock\", placing STRK junior to STRF; accession 0001193125-25-167987 (STRC) lists STRK among its Liquidation Junior Stock; accession 0001193125-25-138477 (STRD) states \"Liquidation Senior Stock includes the Perpetual Strike Preferred Stock and the Perpetual Strife Preferred Stock\", placing STRK senior to STRD.","cumulative":true,"rate_policy":"fixed","rate_policy_terms":{"title":"8.00% Series A Perpetual Strike Preferred Stock","payable":"cash or otherwise, when as and if declared","stated_rate_pct":8,"dividend_payment":"quarterly in arrears"},"maturity_date":null,"liquidation_preference":100,"outstanding_amount":1402074000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":75.4,"declared_rate":8,"effective_yield":10.610079575596815,"attachment_point":0.3012127722866017,"coverage_ratio":3.3199123410627074,"coverage_as_of":"2026-07-24","price_date":"2026-10-12","price_source":"iex_hist","confidence":"last_sale","btc_holdings":843775,"btc_holdings_as_of":"2026-07-24","btc_holdings_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history.","issuer_preferred_outstanding_usd":15462056000,"issuer_preferred_shares_outstanding":153529000,"issuer_preferred_outstanding_as_of":"2026-06-30","issuer_preferred_outstanding_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), XBRL us-gaap:TemporaryEquityLiquidationPreference (15,462,056,000 USD) and us-gaap:TemporaryEquitySharesOutstanding (153,529,000 shares). AGGREGATE across all four series (STRK, STRF, STRD, STRC) — the series collapse into one undimensioned observation, so this is not four instrument sizes and must not be divided across them. Redeemable preferred sits in mezzanine equity, so us-gaap:PreferredStockSharesOutstanding reads 0 for this filer and that zero is correct Cross-check: 153,529,000 x the 100 USD per-share stated value = 15.353bn against 15.462bn reported; the gap is accrued unpaid dividends, which is why the liquidation preference is the size and the 100 USD is a price. SCOPE: this aggregate is the issuer full preferred stack and INCLUDES the EUR-denominated STRE Stock at USD 884,120,000 as translated by the issuer. The USD-denominated subtotal, which is what this product covers, is 14,577,936,000 across STRF, STRC, STRK and STRD.","trailing":[{"window_days":7,"observations":5,"window_start":"2026-10-06","mean_effective_yield":10.5725,"mean_declared_rate":8,"min_effective_yield":10.4932,"max_effective_yield":10.6482,"covers_full_window":true},{"window_days":14,"observations":10,"window_start":"2026-09-29","mean_effective_yield":10.594,"mean_declared_rate":8,"min_effective_yield":10.4302,"max_effective_yield":10.7701,"covers_full_window":true},{"window_days":30,"observations":21,"window_start":"2026-09-14","mean_effective_yield":10.757,"mean_declared_rate":8,"min_effective_yield":10.4302,"max_effective_yield":11.7612,"covers_full_window":true},{"window_days":60,"observations":41,"window_start":"2026-08-14","mean_effective_yield":10.8623,"mean_declared_rate":8,"min_effective_yield":10.2139,"max_effective_yield":12.0409,"covers_full_window":true},{"window_days":90,"observations":63,"window_start":"2026-07-15","mean_effective_yield":11.4751,"mean_declared_rate":8,"min_effective_yield":10.2139,"max_effective_yield":13.4116,"covers_full_window":true},{"window_days":180,"observations":124,"window_start":"2026-04-16","mean_effective_yield":11.5564,"mean_declared_rate":8,"min_effective_yield":10.0439,"max_effective_yield":15.531,"covers_full_window":true},{"window_days":365,"observations":251,"window_start":"2025-10-13","mean_effective_yield":10.6978,"mean_declared_rate":8,"min_effective_yield":8.6806,"max_effective_yield":15.531,"covers_full_window":true}],"returns":[{"period":"1m","entry_date":"2026-09-11","days_held":31,"entry_price":75.55,"exit_price":75.4,"income_per_share":0.6795,"income_pct":0.8993,"price_pct":-0.1985,"total_pct":0.7008,"income_annualised":10.589,"total_annualised":8.2513,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":true},{"period":"2m","entry_date":"2026-08-12","days_held":61,"entry_price":68.1,"exit_price":75.4,"income_per_share":1.337,"income_pct":1.9633,"price_pct":10.7195,"total_pct":12.6828,"income_annualised":11.7474,"total_annualised":75.8889,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":true},{"period":"3m","entry_date":"2026-07-10","days_held":94,"entry_price":60.805,"exit_price":75.4,"income_per_share":2.0603,"income_pct":3.3883,"price_pct":24.003,"total_pct":27.3913,"income_annualised":13.1568,"total_annualised":106.3598,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"6m","entry_date":"2026-04-10","days_held":185,"entry_price":73.49,"exit_price":75.4,"income_per_share":4.0548,"income_pct":5.5175,"price_pct":2.599,"total_pct":8.1165,"income_annualised":10.8858,"total_annualised":16.0136,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"12m","entry_date":"2025-10-10","days_held":367,"entry_price":92.19,"exit_price":75.4,"income_per_share":8.0438,"income_pct":8.7253,"price_pct":-18.2124,"total_pct":-9.4871,"income_annualised":8.6777,"total_annualised":-9.4354,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"inception","entry_date":"2025-02-07","days_held":612,"entry_price":86.79,"exit_price":75.4,"income_per_share":13.4137,"income_pct":15.4554,"price_pct":-13.1236,"total_pct":2.3317,"income_annualised":9.2177,"total_annualised":1.3906,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false}]},{"instrument_id":"strategy_strd","issuer_id":"strategy","issuer":"Strategy Inc","ticker":"STRD","instrument_type":"perpetual_preferred","seniority_rank":6,"seniority_source":"Junior to all six registered Strategy convertible notes (rank 1), which are senior unsecured debt per SEC EDGAR accession 0001050446-26-000044, R13 — debt ahead of equity, a structural ordering. Most junior of the registered preferred stack. SEC EDGAR accession 0001193125-25-138477, EX-3.1, states \"Liquidation Senior Stock includes the Perpetual Strike Preferred Stock and the Perpetual Strife Preferred Stock\"; accession 0001193125-25-167987 (STRC) lists STRD among its Liquidation Junior Stock. Junior to all three siblings.","cumulative":false,"rate_policy":"fixed","rate_policy_terms":{"title":"10.00% Series A Perpetual Stride Preferred Stock","stated_rate_pct":10,"dividend_payment":"quarterly in arrears"},"maturity_date":null,"liquidation_preference":100,"outstanding_amount":1402422000,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":73.03,"declared_rate":10,"effective_yield":13.693002875530604,"attachment_point":0.32154789289245467,"coverage_ratio":3.1099566257598252,"coverage_as_of":"2026-07-24","price_date":"2026-10-12","price_source":"iex_hist","confidence":"last_sale","btc_holdings":843775,"btc_holdings_as_of":"2026-07-24","btc_holdings_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history.","issuer_preferred_outstanding_usd":15462056000,"issuer_preferred_shares_outstanding":153529000,"issuer_preferred_outstanding_as_of":"2026-06-30","issuer_preferred_outstanding_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30), XBRL us-gaap:TemporaryEquityLiquidationPreference (15,462,056,000 USD) and us-gaap:TemporaryEquitySharesOutstanding (153,529,000 shares). AGGREGATE across all four series (STRK, STRF, STRD, STRC) — the series collapse into one undimensioned observation, so this is not four instrument sizes and must not be divided across them. Redeemable preferred sits in mezzanine equity, so us-gaap:PreferredStockSharesOutstanding reads 0 for this filer and that zero is correct Cross-check: 153,529,000 x the 100 USD per-share stated value = 15.353bn against 15.462bn reported; the gap is accrued unpaid dividends, which is why the liquidation preference is the size and the 100 USD is a price. SCOPE: this aggregate is the issuer full preferred stack and INCLUDES the EUR-denominated STRE Stock at USD 884,120,000 as translated by the issuer. The USD-denominated subtotal, which is what this product covers, is 14,577,936,000 across STRF, STRC, STRK and STRD.","trailing":[{"window_days":7,"observations":5,"window_start":"2026-10-06","mean_effective_yield":13.7794,"mean_declared_rate":10,"min_effective_yield":13.693,"max_effective_yield":13.8255,"covers_full_window":true},{"window_days":14,"observations":10,"window_start":"2026-09-29","mean_effective_yield":13.7224,"mean_declared_rate":10,"min_effective_yield":13.5759,"max_effective_yield":13.8255,"covers_full_window":true},{"window_days":30,"observations":21,"window_start":"2026-09-14","mean_effective_yield":13.7039,"mean_declared_rate":10,"min_effective_yield":13.2118,"max_effective_yield":14.1143,"covers_full_window":true},{"window_days":60,"observations":41,"window_start":"2026-08-14","mean_effective_yield":13.7376,"mean_declared_rate":10,"min_effective_yield":13.1458,"max_effective_yield":14.7732,"covers_full_window":true},{"window_days":90,"observations":63,"window_start":"2026-07-15","mean_effective_yield":14.5678,"mean_declared_rate":10,"min_effective_yield":13.1458,"max_effective_yield":17.2563,"covers_full_window":true},{"window_days":180,"observations":123,"window_start":"2026-04-16","mean_effective_yield":14.5325,"mean_declared_rate":10,"min_effective_yield":12.7877,"max_effective_yield":19.9203,"covers_full_window":true},{"window_days":365,"observations":250,"window_start":"2025-10-13","mean_effective_yield":13.8439,"mean_declared_rate":10,"min_effective_yield":12.2971,"max_effective_yield":19.9203,"covers_full_window":true}],"returns":[{"period":"1m","entry_date":"2026-09-11","days_held":31,"entry_price":75.34,"exit_price":73.03,"income_per_share":0.8493,"income_pct":1.1273,"price_pct":-3.0661,"total_pct":-1.9388,"income_annualised":13.2732,"total_annualised":-22.8277,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":true},{"period":"2m","entry_date":"2026-08-12","days_held":61,"entry_price":68.565,"exit_price":73.03,"income_per_share":1.6712,"income_pct":2.4374,"price_pct":6.5121,"total_pct":8.9495,"income_annualised":14.5847,"total_annualised":53.5504,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":true},{"period":"3m","entry_date":"2026-07-10","days_held":94,"entry_price":61.185,"exit_price":73.03,"income_per_share":2.5753,"income_pct":4.2091,"price_pct":19.3593,"total_pct":23.5684,"income_annualised":16.3439,"total_annualised":91.5157,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"6m","entry_date":"2026-04-10","days_held":185,"entry_price":75.9,"exit_price":73.03,"income_per_share":5.0685,"income_pct":6.6779,"price_pct":-3.7813,"total_pct":2.8966,"income_annualised":13.1752,"total_annualised":5.7148,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"12m","entry_date":"2025-10-10","days_held":367,"entry_price":81.08,"exit_price":73.03,"income_per_share":10.0548,"income_pct":12.4011,"price_pct":-9.9285,"total_pct":2.4726,"income_annualised":12.3335,"total_annualised":2.4591,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"inception","entry_date":"2025-06-12","days_held":487,"entry_price":88.35,"exit_price":73.03,"income_per_share":13.3425,"income_pct":15.1018,"price_pct":-17.3401,"total_pct":-2.2383,"income_annualised":11.3186,"total_annualised":-1.6776,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false}]},{"instrument_id":"strive_sata","issuer_id":"strive","issuer":"Strive, Inc.","ticker":"SATA","instrument_type":"perpetual_preferred","seniority_rank":1,"seniority_source":"SEC EDGAR accession 0001628280-26-054985 (10-Q, period 2026-06-30), R18: \"The SATA Stock ranks senior to Strive's Class A common stock and Class B common stock\" and \"The SATA Stock is junior to Strive's existing and future indebtedness.\" Rank 1 of the REGISTERED stack because no indebtedness is registered: R2 shows total liabilities of $28,581 thousand with no notes-payable line at 2026-06-30 (the assumed Semler notes were extinguished or converted in January).","cumulative":true,"rate_policy":null,"rate_policy_terms":{"title":"Variable Rate Series A Perpetual Preferred Stock","variable":true,"structure":"Board-set, \"a variable rate ... per annum on the stated amount of $100 per share\", paid in monthly instalments (R18). No price-feedback framework has been read for SATA, so rate_policy is left NULL rather than asserting STRC's mechanism; the CHECK admits no plain board-set-variable value.","par_anchor":100,"redemption":"at the issuer's election, $110 per share plus accumulated and unpaid regular dividends (R18)","reset_cadence":"monthly","declared_rates":[{"from":"2026-07-01","source":"SEC EDGAR accession 0001628280-26-043013 (8-K, 2026-06-15), \"maintained the regular dividend rate per annum on the Company's SATA Stock at 13.00%, effective for periods commencing on or after July 1, 2026\"","rate_pct":13},{"from":"2026-08-01","source":"SEC EDGAR accession 0001628280-26-048231 (8-K, 2026-07-14), \"maintained ... at 13.00%, effective for periods commencing on or after August 1, 2026\"","rate_pct":13},{"from":"2026-09-01","source":"SEC EDGAR accession 0001628280-26-056908 (8-K, 2026-08-13), \"maintained ... at 13.00%, effective for periods commencing on or after September 1, 2026\"","rate_pct":13},{"from":"2026-10-01","source":"SEC EDGAR accession 0001628280-26-061949 (8-K, 2026-09-14), \"maintained ... at 13.00%, effective for periods commencing on or after October 1, 2026\"","rate_pct":13}],"rate_range_since_issue":"12.25% to 13.00% (R52); per-month history before 2026-07-01 not yet read","declared_rates_known_through":"2026-10-31"},"maturity_date":null,"liquidation_preference":100,"outstanding_amount":782950200,"status":"outstanding","currency":"USD","usd_translation":null,"close_price":99.4,"declared_rate":13,"effective_yield":13.078470824949697,"attachment_point":0.48223877008838967,"coverage_ratio":2.073661559431876,"coverage_as_of":"2026-06-30","price_date":"2026-10-12","price_source":"iex_hist","confidence":"last_sale","btc_holdings":19864,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001628280-26-054985 (10-Q, period 2026-06-30), R35 Digital Assets, at Fair Value — Investment of Digital Assets: \"Approximate number of bitcoin held 19,864\", aggregate fair value $1,164,639 thousand, \"Fair value per bitcoin $58,631\" — the three agree (19,864 x 58,631 = 1,164.6m). READ, NOT DERIVED.","issuer_preferred_outstanding_usd":782950200,"issuer_preferred_shares_outstanding":7829502,"issuer_preferred_outstanding_as_of":"2026-06-30","issuer_preferred_outstanding_source":"SEC EDGAR accession 0001628280-26-054985 (10-Q, period 2026-06-30), R3 balance sheet parenthetical: Variable Rate Series A Perpetual Preferred Stock \"Shares Issued 7,829,502\", \"Shares Outstanding 7,829,502\", liquidation preference \"$ 783.0\" million. 7,829,502 x $100 stated amount = 782,950,200, which is the figure carried.","trailing":[{"window_days":7,"observations":5,"window_start":"2026-10-06","mean_effective_yield":13.0837,"mean_declared_rate":13,"min_effective_yield":13,"max_effective_yield":13.1566,"covers_full_window":true},{"window_days":14,"observations":10,"window_start":"2026-09-29","mean_effective_yield":13.0413,"mean_declared_rate":13,"min_effective_yield":12.9987,"max_effective_yield":13.1566,"covers_full_window":true},{"window_days":30,"observations":21,"window_start":"2026-09-14","mean_effective_yield":13.0203,"mean_declared_rate":13,"min_effective_yield":12.9987,"max_effective_yield":13.1566,"covers_full_window":true},{"window_days":60,"observations":41,"window_start":"2026-08-14","mean_effective_yield":13.0196,"mean_declared_rate":13,"min_effective_yield":12.9987,"max_effective_yield":13.1566,"covers_full_window":true},{"window_days":90,"observations":63,"window_start":"2026-07-15","mean_effective_yield":13.1151,"mean_declared_rate":13,"min_effective_yield":12.9987,"max_effective_yield":13.5671,"covers_full_window":true},{"window_days":180,"observations":124,"window_start":"2026-04-16","mean_effective_yield":13.146,"mean_declared_rate":13,"min_effective_yield":12.9987,"max_effective_yield":13.5671,"covers_full_window":true},{"window_days":365,"observations":227,"window_start":"2025-11-11","mean_effective_yield":13.146,"mean_declared_rate":13,"min_effective_yield":12.9987,"max_effective_yield":13.5671,"covers_full_window":false}],"returns":[{"period":"1m","entry_date":"2026-09-11","days_held":31,"entry_price":99.55,"exit_price":99.4,"income_per_share":1.1041,"income_pct":1.1091,"price_pct":-0.1507,"total_pct":0.9584,"income_annualised":13.0588,"total_annualised":11.2847,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":true},{"period":"2m","entry_date":"2026-08-12","days_held":61,"entry_price":99.35,"exit_price":99.4,"income_per_share":2.1726,"income_pct":2.1868,"price_pct":0.0503,"total_pct":2.2371,"income_annualised":13.0851,"total_annualised":13.3862,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":true},{"period":"3m","entry_date":"2026-07-10","days_held":94,"entry_price":97.35,"exit_price":99.4,"income_per_share":3.3479,"income_pct":3.4391,"price_pct":2.1058,"total_pct":5.5449,"income_annualised":13.3539,"total_annualised":21.5307,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"6m","entry_date":"2026-04-10","days_held":185,"entry_price":98.17,"exit_price":99.4,"income_per_share":3.7041,"income_pct":3.7732,"price_pct":1.2529,"total_pct":5.0261,"income_annualised":7.4443,"total_annualised":9.9163,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false},{"period":"inception","entry_date":"2025-11-11","days_held":335,"entry_price":92.36,"exit_price":99.4,"income_per_share":3.7041,"income_pct":4.0105,"price_pct":7.6223,"total_pct":11.6329,"income_annualised":4.3697,"total_annualised":12.6746,"income_accrued_not_confirmed_paid":true,"short_period_annualisation_warning":false}]}],"btc_backing":{"btc_price_usd":81734.48110599573,"btc_price_date":"2026-10-12","btc_price_source":"gavel_data_mainnet.btc_reference_daily (on-chain fixing)","fx_used":{"CHF":{"rate":1.2058362474375979,"as_of":"2026-10-02"},"EUR":{"rate":1.1259,"as_of":"2026-10-02"},"GBP":{"rate":1.3234,"as_of":"2026-10-02"},"JPY":{"rate":0.006336734047272036,"as_of":"2026-10-02"}},"issuers":[{"issuer_id":"strategy","display_name":"Strategy Inc","btc_holdings":843775,"btc_holdings_as_of":"2026-07-24","btc_holdings_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history.","btc_value_usd":68965511795.21155,"registered_debt_usd":21291595000,"non_usd_debt":{"native":{"EUR":775000000},"usd_equivalent":884120000,"basis":"issuer translation where filed, else latest Federal Reserve H.10 rate"},"debt_all_currencies_usd":22175715000,"debt_as_of":"2026-06-30","instruments":11,"backing_ratio":3.1099566257598257,"debt_to_btc_pct":32.154789289245464,"denominator_complete":false},{"issuer_id":"metaplanet","display_name":"Metaplanet Inc.","btc_holdings":43000,"btc_holdings_as_of":"2026-08-18","btc_holdings_source":"https://contents.xj-storage.jp/xcontents/33500/c02155bd/0bd0/4333/ac51/6085aab46d18/140120260818522603.pdf (Super League notice, 2026-08-18): \"held 43,000 BTC as of August 18, 2026\". Same count at 2026-06-30 in the Q2 FY2026 Tanshin (https://contents.xj-storage.jp/xcontents/33500/ccef5126/8cc0/4501/b779/01892d97a274/140120260813519694.pdf). 2,100 BTC are to move in kind to Super League (a group subsidiary) in Q4 2026 — still inside the group.","btc_value_usd":3514582687.5578165,"registered_debt_usd":414000000,"non_usd_debt":{"native":{"JPY":31610000000},"usd_equivalent":200304163,"basis":"issuer translation where filed, else latest Federal Reserve H.10 rate"},"debt_all_currencies_usd":614304163.2342691,"debt_as_of":"2026-06-30","instruments":3,"backing_ratio":5.721241850378777,"debt_to_btc_pct":17.478722734536987,"denominator_complete":false},{"issuer_id":"mara","display_name":"MARA Holdings, Inc.","btc_holdings":26307,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 5 DIGITAL ASSETS: \"As of June 30, 2026 ... Quantity Cost Basis Fair Value Bitcoin 26,307 $ 1,889,537 $ 1,540,574\". READ, NOT DERIVED — this closes the pending below on its own terms: the count is absent from XBRL (CryptoAssetNumberOfUnits is untagged for this filer) but present in the filing's own table, so no division by a BTC close was needed. SCOPE: this is bitcoin HELD. The same table reports \"Bitcoin - receivable 9,270\" and \"Total bitcoin holdings 35,577\". The receivable is coin lent to counterparties and not in the company's possession, so it is deliberately EXCLUDED here; a backing ratio built on 35,577 would count collateral the issuer does not hold. Use 35,577 only where the intent is economic exposure, and say which is meant.","btc_value_usd":2150188994.4554296,"registered_debt_usd":3047201000,"non_usd_debt":null,"debt_all_currencies_usd":3047201000,"debt_as_of":"2026-08-04","instruments":7,"backing_ratio":0.7056275560606043,"debt_to_btc_pct":141.71782145000483,"denominator_complete":false},{"issuer_id":"strive","display_name":"Strive, Inc.","btc_holdings":19864,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001628280-26-054985 (10-Q, period 2026-06-30), R35 Digital Assets, at Fair Value — Investment of Digital Assets: \"Approximate number of bitcoin held 19,864\", aggregate fair value $1,164,639 thousand, \"Fair value per bitcoin $58,631\" — the three agree (19,864 x 58,631 = 1,164.6m). READ, NOT DERIVED.","btc_value_usd":1623573732.6894991,"registered_debt_usd":782950200,"non_usd_debt":null,"debt_all_currencies_usd":782950200,"debt_as_of":"2026-06-30","instruments":1,"backing_ratio":2.073661559431876,"debt_to_btc_pct":48.22387700883897,"denominator_complete":false},{"issuer_id":"riot","display_name":"Riot Platforms, Inc.","btc_holdings":11380,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001104659-26-093448 (10-Q, period 2026-06-30, filed 2026-08-10), XBRL us-gaap:CryptoAssetNumberOfUnits, unit [item].","btc_value_usd":930138394.9862314,"registered_debt_usd":794383000,"non_usd_debt":null,"debt_all_currencies_usd":794383000,"debt_as_of":"2026-06-30","instruments":2,"backing_ratio":1.170894134172347,"debt_to_btc_pct":85.40481763595609,"denominator_complete":false},{"issuer_id":"blockchain_group","display_name":"Capital B (formerly The Blockchain Group)","btc_holdings":3525,"btc_holdings_as_of":"2026-09-14","btc_holdings_source":"https://cptlb.com/wp-content/uploads/2026/09/0vcKV41w13/20260914-Capital-B-CP-14-septembre-2026-EN-FINAL.pdf (press release, 2026-09-14): \"Capital B and its subsidiary Capital B Luxembourg SA hold a total of 3,525 BTC as part of the Bitcoin Treasury Company strategy\". Excludes \"an additional 61 BTC for its operational needs... segregated from its Bitcoin reserve\".","btc_value_usd":288114045.89863497,"registered_debt_usd":null,"non_usd_debt":{"native":{"EUR":82434625},"usd_equivalent":92813144,"basis":"issuer translation where filed, else latest Federal Reserve H.10 rate"},"debt_all_currencies_usd":92813144.2875,"debt_as_of":"2026-09-14","instruments":6,"backing_ratio":3.1042375313367976,"debt_to_btc_pct":32.21402969022682,"denominator_complete":false},{"issuer_id":"sequans","display_name":"Sequans Communications S.A.","btc_holdings":0,"btc_holdings_as_of":"2026-09-24","btc_holdings_source":"SEC EDGAR accession 0001383395-26-000110 (6-K, 2026-09-24), Exhibit 99.1: \"Sequans has sold the remaining 314 Bitcoin held on its balance sheet as of June 30, 2026, completing the treasury exit\". Zero from the announcement date; the latest-dated filed figure wins (operator; 2026-10-09).","btc_value_usd":0,"registered_debt_usd":null,"non_usd_debt":null,"debt_all_currencies_usd":null,"debt_as_of":null,"instruments":1,"backing_ratio":null,"debt_to_btc_pct":null,"denominator_complete":false}],"class":{"btc_holdings":947851,"btc_value_usd":77472109650.79916,"registered_debt_usd":26330129200,"debt_all_currencies_usd":27507366507.521767,"backing_ratio":2.8164131826147285,"debt_to_btc_pct":35.50615393269856},"definition":"debt_to_btc_pct is registered debt in EVERY currency, converted to USD (issuer translation where filed, else the latest Federal Reserve H.10 rate), over the market value of the bitcoin the issuer holds. registered_debt_usd is the USD-denominated part alone — the figure the BTC-USD composition sums; yen and euro debt sits beside it in non_usd_debt. Same construction as a loan-to-value, which is what makes it comparable to the secured classes on this surface.","not_an_ltv":"THIS IS NOT AN LTV. The bitcoin secures nothing: these instruments are unsecured and no holder has a lien or any claim on the coins, so none of it can be seized on default. The corporate class is financed BY bitcoin, never backed by it (spec section 9.5, C11). Read against a secured LTV it is a comparison of leverage, not of collateral.","denominator_caveat":"The debt is the REGISTERED stack, in every currency. For Strategy that is its six convertible notes (6.71bn), the four USD preferreds and, since 2026-09-22, the EUR-denominated STRE preferred at the issuer's own USD translation. Still outside it: 39.8m of other long-term secured debt, so backing_ratio is a CEILING and debt_to_btc_pct a FLOOR by that much.","as_of_caveat":"The three inputs carry three different as-of dates - holdings from the latest filing, debt from the latest 10-Q, price from today. The ratio is therefore a current valuation of a quarterly-observed balance sheet, not a daily series, and each date is published above."},"_coverage":{"instruments":31,"preferred_outstanding_usd":16245006200,"preferred_outstanding_issuers":2,"instrument_sizes_available":true,"registered_outstanding_usd":58797563825,"scope_note":"preferred_outstanding_usd is the issuer full preferred stack per its own filing and INCLUDES the EUR-denominated STRE Stock at USD 884,120,000 as translated by the issuer. registered_outstanding_usd is the USD-denominated subtotal across STRF, STRC, STRK and STRD, which is what this product covers — it is BTC-USD debt. The difference is STRE and is not a gap.","ladder_note":"STRE is unregistered by scope, not by oversight, but it ranks SENIOR to STRK and STRD and junior to STRF and STRC (accession 0001193125-25-272591). Scope does not change the waterfall: any attachment point derived from the four registered instruments understates the senior claim above STRK and STRD by that amount. Readiness matrix hole #39.","priced":4,"unpriced":27,"dated":19,"perpetual":12,"coverage_pct":13,"fit_available":true,"fit_note":null},"_provenance":{"terms":"SEC EDGAR filings; every seniority and term cell cites its accession number","holdings":"SEC EDGAR XBRL us-gaap:CryptoAssetNumberOfUnits","preferred_outstanding":"SEC EDGAR XBRL us-gaap:TemporaryEquityLiquidationPreference and us-gaap:TemporaryEquitySharesOutstanding, per issuer, cited to accession. NOT us-gaap:PreferredStockShares*, which reads 0 for a mezzanine issuer because redeemable preferred sits in temporary equity — that zero is correct and would compute if ingested.","prices":"IEX HIST: the last regular-session IEX trade, odd lots included — one exchange's last sale, not the official close (confidence last_sale). Every row's price_source says which source priced it (PV1, 2026-10-03; EODHD left the corpus, migration 193).","unsecured":true,"unsecured_note":"Corporate credit here is unsecured: no lien exists over the issuer's bitcoin, and the backing is economic rather than legal (C11)."},"attribution":[{"provider":"IEX","text":"Data provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use.","url":"https://www.iex.io/legal/hist-data-terms","covers":"corporate preferred prices (IEX last regular-session trade) and the yields computed from them"}]},"instruments_unavailable":null,"financing_curve":{"as_of":"2026-10-13","tenor_axis":{"scale":"log","type":"lookback_window"},"tenor_note":"The tenor is an AVERAGING WINDOW, not a maturity. Every constituent pool is open-term floating and no borrower agreed a term, so a rising curve means rates were higher further back — not a term premium.","rate_convention":"continuously_compounded_annual","weighting":"borrow by borrowed_usd, lend by supplied_usd; spread computed per pool-day then weighted, never as the difference of the two aggregates","min_book_usd":250000,"min_book_note":"Presentation scope, not a validation gate — a dust book posts a rate nobody can transact at in size. Validation is defi_rates_llama.gate_verdict.","series_origin":"aggregator_defillama","observers":{"borrow":["aggregator_defillama"],"lend":["aggregator_defillama","venue_api_morpho"],"note":"The lend leg is a BLEND and every point names its observers and their supply share in lend_observers. v2 §5: observers are never joined undisclosed. The borrow leg is single-source."},"provenance_note":"aggregator_defillama for the borrow leg and for pooled-venue supply; venue APIs for the isolated-market lend leg (see observers and per-point lend_observers). PRIMARY source, not verified: most constituent pools have no chain-derived counterpart to be checked against. Never backs ASCR or any benchmark claim.","denomination_note":"btc and usd are different products and are never aggregated (v2 V2). btc = the borrower receives bitcoin; usd = a stablecoin is borrowed against bitcoin collateral.","series":[{"class_id":"btc|algorithmic","class":"algorithmic","denomination":"btc","family":"A","axis":"lookback_window","has_lender":true,"wrapper_classes":["custodial"],"composition":[{"venue_id":"venus_core_pool_bsc","pools":2,"debt_usd":112489364.38599421,"share":0.4286740883476797},{"venue_id":"aave_v3_ethereum","pools":5,"debt_usd":71824899.72742864,"share":0.273710084321114},{"venue_id":"aave_v3_arbitrum","pools":1,"debt_usd":13581154.719852323,"share":0.051755018352351474},{"venue_id":"spark_ethereum","pools":1,"debt_usd":13216644.238193478,"share":0.05036594304491082},{"venue_id":"jupiter_lend_solana","pools":15,"debt_usd":10707348.850463053,"share":0.036723175821392416},{"venue_id":"aave_v3_base","pools":2,"debt_usd":7476491.21083195,"share":0.028491387353255158},{"venue_id":"morpho_blue_monad","pools":2,"debt_usd":6571579.221111137,"share":0.025042951811408035},{"venue_id":"euler_v2_monad","pools":1,"debt_usd":5671971.648437323,"share":0.021614730324056194},{"venue_id":"moonwell_lending_base","pools":3,"debt_usd":4835468.438429978,"share":0.018426986727965135},{"venue_id":"aave_v3_polygon","pools":1,"debt_usd":2523779.4993835366,"share":0.009617610358046466},{"venue_id":"dolomite_arbitrum","pools":1,"debt_usd":2485906.071142447,"share":0.009473282426135139},{"venue_id":"navi_lending_sui","pools":3,"debt_usd":1915447.8743268708,"share":0.007299382264149464},{"venue_id":"justlend_v1_tron","pools":2,"debt_usd":1529806.7379893574,"share":0.0056354562518634915},{"venue_id":"kamino_lend_solana","pools":3,"debt_usd":1453213.5625736958,"share":0.005537901316369475},{"venue_id":"fluid_lending_ethereum","pools":5,"debt_usd":1452556.980376118,"share":0.005535399215157434},{"venue_id":"morpho_blue_ethereum","pools":2,"debt_usd":1130532.104606295,"share":0.004308227910568827},{"venue_id":"aave_v3_bsc","pools":1,"debt_usd":1034021.0013534359,"share":0.003940443725564584},{"venue_id":"aave_v3_optimism","pools":1,"debt_usd":881914.4625331818,"share":0.003360796643225733},{"venue_id":"morpho_blue_base","pools":2,"debt_usd":769671.5047535115,"share":0.002933061560337861},{"venue_id":"current_sui","pools":1,"debt_usd":480895.7689601658,"share":0.0018325959656228838},{"venue_id":"save_solana","pools":1,"debt_usd":308232.4582117365,"share":0.001174611206528711},{"venue_id":"fluid_lending_arbitrum","pools":2,"debt_usd":202268.9067297829,"share":0.0007708056638665414},{"venue_id":"aave_v4_ethereum","pools":4,"debt_usd":743430.4434325161,"share":0.0006610478496626569},{"venue_id":"euler_v2_ethereum","pools":3,"debt_usd":134725.33050084766,"share":0.0005134108326154028},{"venue_id":"neverland_monad","pools":2,"debt_usd":134182.5577056582,"share":0.000511342435888052},{"venue_id":"curvance_monad","pools":2,"debt_usd":118110.48215053325,"share":0.00045009502486342324},{"venue_id":"liquidium_icp","pools":1,"debt_usd":75260.235062124,"share":0.0002868014485652563},{"venue_id":"dolomite_ethereum","pools":2,"debt_usd":58263.07212020581,"share":0.0002220287176640322},{"venue_id":"arcadia_v2_base","pools":1,"debt_usd":54047.18936372974,"share":0.0002059628459518252},{"venue_id":"aave_v3_linea","pools":1,"debt_usd":49332.5464170261,"share":0.0001879963005980083},{"venue_id":"aave_v2_ethereum","pools":1,"debt_usd":124566.31371748375,"share":0.00011076260671160052},{"venue_id":"tender_finance_arbitrum","pools":1,"debt_usd":34603.166666666664,"share":0.0001054925041544499},{"venue_id":"tectonic_cronos","pools":1,"debt_usd":26786.07438296836,"share":0.00010207628142631554},{"venue_id":"kinza_finance_bsc","pools":1,"debt_usd":28751,"share":0.00008765137064366717},{"venue_id":"aave_v2_polygon","pools":1,"debt_usd":82530.82121772571,"share":0.00007338524051419625},{"venue_id":"euler_v2_bsc","pools":1,"debt_usd":17846.55126803581,"share":0.00006800957705409444},{"venue_id":"euler_v2_base","pools":4,"debt_usd":10835.41261422664,"share":0.00004129155364711862},{"venue_id":"fluid_lending_base","pools":1,"debt_usd":10446.526737304777,"share":0.00003980958866606727},{"venue_id":"euler_v2_arbitrum","pools":1,"debt_usd":10272.964716603483,"share":0.000039148179106132274},{"venue_id":"dolomite_berachain","pools":2,"debt_usd":7605.354096518491,"share":0.00002898245760105191},{"venue_id":"avalon_finance_bob","pools":2,"debt_usd":4430.916666666667,"share":0.000013508257766380379},{"venue_id":"folks_finance_xchain_avalanche","pools":1,"debt_usd":4086.4166666666665,"share":0.000012458002220947408},{"venue_id":"folks_finance_xchain_base","pools":1,"debt_usd":2293.5416666666665,"share":0.0000069921766446973725},{"venue_id":"exactly_optimism","pools":1,"debt_usd":729.6666666666666,"share":0.000002224489007211198},{"venue_id":"silo_v2_sonic","pools":1,"debt_usd":5479,"share":0.0000013919569747042202},{"venue_id":"extra_finance_xlend_base","pools":1,"debt_usd":456.125,"share":0.0000013905596826142636},{"venue_id":"extra_finance_xlend_optimism","pools":1,"debt_usd":387.4166666666667,"share":0.0000011810928956743786},{"venue_id":"moonwell_lending_moonbeam","pools":1,"debt_usd":248.8882650280199,"share":9.484625563819623e-7},{"venue_id":"folks_finance_lending_algorand","pools":1,"debt_usd":153.1381575964422,"share":5.835783716729014e-7},{"venue_id":"colend_protocol_core","pools":1,"debt_usd":23.583333333333332,"share":7.189702935595809e-8},{"venue_id":"folks_finance_xchain_monad","pools":1,"debt_usd":6.9375,"share":1.409994745320026e-8}],"composition_debt_basis":"mean_daily_borrowed_usd_30d","points":[{"tenor_days":7,"tenor_type":"lookback_window","borrow_rate_cc":1.2877069053415475,"lend_rate_cc":0.027817856092674263,"spread_cc":0.5101106012506322,"spread_pools":22,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":80,"venue_count":45,"debt_usd":138646176,"supplied_usd":6278995844,"days_observed":7,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9984061717271712,"origin":"aggregator_defillama","supplied_usd":6278123176},{"scope":"isolated markets, per-market supply rate from the venue's own API — 7 market-observation(s) across 2 venue(s)","share":0.0015938282728288882,"origin":"venue_api_morpho","supplied_usd":10022224}],"collateral_coverage":{"btc_usd":0,"other_usd":7577930,"mixed_pooled_usd":131068246},"leg_basis":"two_sided","borrow_p10_cc":0.058680342167828865,"borrow_p50_cc":0.3159848280901196,"borrow_p90_cc":2.1455732166522195,"borrow_sd_cc":3.379781172923203,"lend_p10_cc":0.0008660328603526385,"lend_p50_cc":0.0032749319650207487,"lend_p90_cc":0.009370380951757209,"lend_sd_cc":0.45532778846883054,"dispersion_pools":26,"dispersion_venues":19,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":14,"tenor_type":"lookback_window","borrow_rate_cc":1.339678448175959,"lend_rate_cc":0.026536810890607117,"spread_cc":0.5526938437470028,"spread_pools":23,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":80,"venue_count":45,"debt_usd":139514150,"supplied_usd":6377719947,"days_observed":14,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9982579697814782,"origin":"aggregator_defillama","supplied_usd":6376835796},{"scope":"isolated markets, per-market supply rate from the venue's own API — 8 market-observation(s) across 2 venue(s)","share":0.0017420302185218004,"origin":"venue_api_morpho","supplied_usd":11128026}],"collateral_coverage":{"btc_usd":0,"other_usd":7761979,"mixed_pooled_usd":131752170},"leg_basis":"two_sided","borrow_p10_cc":0.1889014687771307,"borrow_p50_cc":0.3159,"borrow_p90_cc":2.1402719015387115,"borrow_sd_cc":3.6867385723101433,"lend_p10_cc":0.0008660328603526385,"lend_p50_cc":0.003306974881509667,"lend_p90_cc":0.00853,"lend_sd_cc":0.4739411231990484,"dispersion_pools":27,"dispersion_venues":20,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":30,"tenor_type":"lookback_window","borrow_rate_cc":1.1843640220002631,"lend_rate_cc":0.022086968704291925,"spread_cc":0.5564481325378776,"spread_pools":24,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":80,"venue_count":45,"debt_usd":142822715,"supplied_usd":6316708273,"days_observed":30,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9983743096868126,"origin":"aggregator_defillama","supplied_usd":6315836611},{"scope":"isolated markets, per-market supply rate from the venue's own API — 8 market-observation(s) across 2 venue(s)","share":0.0016256903131873942,"origin":"venue_api_morpho","supplied_usd":10284314}],"collateral_coverage":{"btc_usd":0,"other_usd":7927719,"mixed_pooled_usd":134894997},"leg_basis":"two_sided","borrow_p10_cc":0.19214528266215644,"borrow_p50_cc":0.31647,"borrow_p90_cc":2.1402719015387115,"borrow_sd_cc":3.107169269075486,"lend_p10_cc":0.0008672401333684637,"lend_p50_cc":0.00332,"lend_p90_cc":0.008700109113528939,"lend_sd_cc":0.3946337471344662,"dispersion_pools":29,"dispersion_venues":22,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":60,"tenor_type":"lookback_window","borrow_rate_cc":1.1049858457614632,"lend_rate_cc":0.020968671112402384,"spread_cc":0.6130501291273011,"spread_pools":25,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":80,"venue_count":45,"debt_usd":151581157,"supplied_usd":6007687502,"days_observed":60,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9988683911922859,"origin":"aggregator_defillama","supplied_usd":6006842346},{"scope":"isolated markets, per-market supply rate from the venue's own API — 9 market-observation(s) across 2 venue(s)","share":0.001131608807714162,"origin":"venue_api_morpho","supplied_usd":6805096}],"collateral_coverage":{"btc_usd":0,"other_usd":7851892,"mixed_pooled_usd":143729265},"leg_basis":"two_sided","borrow_p10_cc":0.28222,"borrow_p50_cc":0.36308,"borrow_p90_cc":2.061180962375831,"borrow_sd_cc":3.625183521339144,"lend_p10_cc":0.00084,"lend_p50_cc":0.0033346069659282006,"lend_p90_cc":0.00991130810296764,"lend_sd_cc":0.44373401164233706,"dispersion_pools":30,"dispersion_venues":22,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":90,"tenor_type":"lookback_window","borrow_rate_cc":0.9702031315799636,"lend_rate_cc":0.018863715410302503,"spread_cc":0.5954352762665258,"spread_pools":25,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":80,"venue_count":45,"debt_usd":155357996,"supplied_usd":5604157771,"days_observed":90,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9989592991581738,"origin":"aggregator_defillama","supplied_usd":5603466404},{"scope":"isolated markets, per-market supply rate from the venue's own API — 9 market-observation(s) across 2 venue(s)","share":0.0010407008418261523,"origin":"venue_api_morpho","supplied_usd":5837607}],"collateral_coverage":{"btc_usd":0,"other_usd":8313915,"mixed_pooled_usd":147044081},"leg_basis":"two_sided","borrow_p10_cc":0.28557,"borrow_p50_cc":0.38222,"borrow_p90_cc":1.2814739366779866,"borrow_sd_cc":2.9997698775246495,"lend_p10_cc":0.00084,"lend_p50_cc":0.00346,"lend_p90_cc":0.0127,"lend_sd_cc":0.38008001453322904,"dispersion_pools":30,"dispersion_venues":22,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":180,"tenor_type":"lookback_window","borrow_rate_cc":0.8765529441187304,"lend_rate_cc":0.017858319219353977,"spread_cc":0.593963346182718,"spread_pools":28,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":80,"venue_count":45,"debt_usd":164254469,"supplied_usd":5195675643,"days_observed":180,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9983800938806279,"origin":"aggregator_defillama","supplied_usd":5195062470},{"scope":"isolated markets, per-market supply rate from the venue's own API — 9 market-observation(s) across 2 venue(s)","share":0.0016199061193720135,"origin":"venue_api_morpho","supplied_usd":8429168}],"collateral_coverage":{"btc_usd":0,"other_usd":8604661,"mixed_pooled_usd":155649808},"leg_basis":"two_sided","borrow_p10_cc":0.29673188436921366,"borrow_p50_cc":0.38253,"borrow_p90_cc":1.2148111981750582,"borrow_sd_cc":2.5026400323919074,"lend_p10_cc":0.00087,"lend_p50_cc":0.005359856357131515,"lend_p90_cc":0.01877,"lend_sd_cc":0.31986280519105137,"dispersion_pools":35,"dispersion_venues":26,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":365,"tenor_type":"lookback_window","borrow_rate_cc":0.697644132188641,"lend_rate_cc":0.014937729907840518,"spread_cc":0.5279769958438447,"spread_pools":35,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":80,"venue_count":45,"debt_usd":207106144,"supplied_usd":6267389830,"days_observed":365,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9955981765864655,"origin":"aggregator_defillama","supplied_usd":6266792742},{"scope":"isolated markets, per-market supply rate from the venue's own API — 9 market-observation(s) across 2 venue(s)","share":0.004401823413534444,"origin":"venue_api_morpho","supplied_usd":27707278}],"collateral_coverage":{"btc_usd":0,"other_usd":5451087,"mixed_pooled_usd":201655057},"leg_basis":"two_sided","borrow_p10_cc":0.19407,"borrow_p50_cc":0.39115,"borrow_p90_cc":1.07193,"borrow_sd_cc":1.6804888565089338,"lend_p10_cc":0.0009,"lend_p50_cc":0.00436,"lend_p90_cc":0.014938884093139562,"lend_sd_cc":0.2154923058194113,"dispersion_pools":45,"dispersion_venues":31,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":730,"tenor_type":"lookback_window","borrow_rate_cc":0.612557863318917,"lend_rate_cc":0.02140687790728698,"spread_cc":0.47189493955054707,"spread_pools":39,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":80,"venue_count":45,"debt_usd":330100966,"supplied_usd":6809901901,"days_observed":730,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.995467062892148,"origin":"aggregator_defillama","supplied_usd":6809105330},{"scope":"isolated markets, per-market supply rate from the venue's own API — 9 market-observation(s) across 2 venue(s)","share":0.004532937107851835,"origin":"venue_api_morpho","supplied_usd":31133740}],"collateral_coverage":{"btc_usd":0,"other_usd":3634918,"mixed_pooled_usd":326466048},"leg_basis":"two_sided","borrow_p10_cc":0.19767,"borrow_p50_cc":0.41193,"borrow_p90_cc":0.98653,"borrow_sd_cc":1.1952869155535597,"lend_p10_cc":0.0011099938395497506,"lend_p50_cc":0.00605,"lend_p90_cc":0.02551,"lend_sd_cc":0.19768423747488395,"dispersion_pools":51,"dispersion_venues":33,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."}]},{"class_id":"chf|minted","class":"minted","denomination":"chf","family":"A","axis":"lookback_window","has_lender":false,"wrapper_classes":["custodial"],"composition":[{"venue_id":"frankencoin_ethereum","pools":73,"debt_usd":36792682.54393133,"share":1}],"composition_debt_basis":"mean_daily_borrowed_usd_30d","points":[{"tenor_days":7,"tenor_type":"lookback_window","borrow_rate_cc":1.2443646868566756,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":5,"venue_count":1,"debt_usd":23658514,"supplied_usd":0,"days_observed":7,"lend_observers":null,"collateral_coverage":{"btc_usd":15862778,"other_usd":7795736,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"withheld: 5 pool(s) across 1 venue(s), under the 8-pool / 3-venue gate — a spread drawn from that few books describes those books, not the class","dispersion_note":null},{"tenor_days":14,"tenor_type":"lookback_window","borrow_rate_cc":1.2443646868566756,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":5,"venue_count":1,"debt_usd":23658514,"supplied_usd":0,"days_observed":7,"lend_observers":null,"collateral_coverage":{"btc_usd":15862778,"other_usd":7795736,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"withheld: 5 pool(s) across 1 venue(s), under the 8-pool / 3-venue gate — a spread drawn from that few books describes those books, not the class","dispersion_note":null},{"tenor_days":30,"tenor_type":"lookback_window","borrow_rate_cc":1.2443646868566756,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":5,"venue_count":1,"debt_usd":23658514,"supplied_usd":0,"days_observed":7,"lend_observers":null,"collateral_coverage":{"btc_usd":15862778,"other_usd":7795736,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"withheld: 5 pool(s) across 1 venue(s), under the 8-pool / 3-venue gate — a spread drawn from that few books describes those books, not the class","dispersion_note":null},{"tenor_days":60,"tenor_type":"lookback_window","borrow_rate_cc":1.2443646868566756,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":5,"venue_count":1,"debt_usd":23658514,"supplied_usd":0,"days_observed":7,"lend_observers":null,"collateral_coverage":{"btc_usd":15862778,"other_usd":7795736,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"withheld: 5 pool(s) across 1 venue(s), under the 8-pool / 3-venue gate — a spread drawn from that few books describes those books, not the class","dispersion_note":null},{"tenor_days":90,"tenor_type":"lookback_window","borrow_rate_cc":1.2443646868566756,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":5,"venue_count":1,"debt_usd":23658514,"supplied_usd":0,"days_observed":7,"lend_observers":null,"collateral_coverage":{"btc_usd":15862778,"other_usd":7795736,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"withheld: 5 pool(s) across 1 venue(s), under the 8-pool / 3-venue gate — a spread drawn from that few books describes those books, not the class","dispersion_note":null},{"tenor_days":180,"tenor_type":"lookback_window","borrow_rate_cc":1.2443646868566756,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":5,"venue_count":1,"debt_usd":23658514,"supplied_usd":0,"days_observed":7,"lend_observers":null,"collateral_coverage":{"btc_usd":15862778,"other_usd":7795736,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"withheld: 5 pool(s) across 1 venue(s), under the 8-pool / 3-venue gate — a spread drawn from that few books describes those books, not the class","dispersion_note":null},{"tenor_days":365,"tenor_type":"lookback_window","borrow_rate_cc":1.2443646868566756,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":5,"venue_count":1,"debt_usd":23658514,"supplied_usd":0,"days_observed":7,"lend_observers":null,"collateral_coverage":{"btc_usd":15862778,"other_usd":7795736,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"withheld: 5 pool(s) across 1 venue(s), under the 8-pool / 3-venue gate — a spread drawn from that few books describes those books, not the class","dispersion_note":null},{"tenor_days":730,"tenor_type":"lookback_window","borrow_rate_cc":1.2443646868566756,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":5,"venue_count":1,"debt_usd":23658514,"supplied_usd":0,"days_observed":7,"lend_observers":null,"collateral_coverage":{"btc_usd":15862778,"other_usd":7795736,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"withheld: 5 pool(s) across 1 venue(s), under the 8-pool / 3-venue gate — a spread drawn from that few books describes those books, not the class","dispersion_note":null}]},{"class_id":"eth|algorithmic","class":"algorithmic","denomination":"eth","family":"A","axis":"lookback_window","has_lender":true,"wrapper_classes":["custodial"],"composition":[{"venue_id":"aave_v3_ethereum","pools":6,"debt_usd":4673209450.8049755,"share":0.672762165917484},{"venue_id":"spark_ethereum","pools":2,"debt_usd":1252515470.1499326,"share":0.18031398536996368},{"venue_id":"aave_v3_base","pools":4,"debt_usd":184750646.7442934,"share":0.0265969772095143},{"venue_id":"fluid_lending_ethereum","pools":7,"debt_usd":180263121.1440086,"share":0.025950946366206446},{"venue_id":"aave_v3_arbitrum","pools":3,"debt_usd":148300880.0134557,"share":0.021349614712461783},{"venue_id":"morpho_blue_ethereum","pools":12,"debt_usd":130453502.75997129,"share":0.01878027980389432},{"venue_id":"compound_v3_ethereum","pools":1,"debt_usd":90681740.89004028,"share":0.013054677957959462},{"venue_id":"euler_v2_monad","pools":3,"debt_usd":52417972.112041,"share":0.007546169034864141},{"venue_id":"morpho_blue_monad","pools":1,"debt_usd":37927487.593046755,"share":0.005460097384787961},{"venue_id":"venus_core_pool_bsc","pools":1,"debt_usd":25061010.3466144,"share":0.0036078202311185885},{"venue_id":"aave_v4_ethereum","pools":3,"debt_usd":97559569.78321102,"share":0.0032771247622564587},{"venue_id":"dolomite_ethereum","pools":1,"debt_usd":22516482.03523368,"share":0.00324150616023782},{"venue_id":"morpho_blue_base","pools":15,"debt_usd":18969526.237247806,"share":0.0027308811411397536},{"venue_id":"aave_v3_optimism","pools":2,"debt_usd":16001538.97507358,"share":0.0023036052914403803},{"venue_id":"gearbox_ethereum","pools":2,"debt_usd":12235441.107065752,"share":0.0017614322548131162},{"venue_id":"euler_v2_base","pools":6,"debt_usd":10305835.234183358,"share":0.0014836433305046104},{"venue_id":"aave_v3_bsc","pools":2,"debt_usd":8933655.801984604,"share":0.001286102343619368},{"venue_id":"aave_v3_polygon","pools":2,"debt_usd":8304916.039155528,"share":0.0011955880345364586},{"venue_id":"fluid_lending_arbitrum","pools":3,"debt_usd":7026173.391273152,"share":0.0010114983457483351},{"venue_id":"moonwell_lending_base","pools":3,"debt_usd":5398579.544941902,"share":0.0007771875208604916},{"venue_id":"aave_v3_linea","pools":2,"debt_usd":5345169.8966794005,"share":0.0007694985886557126},{"venue_id":"dolomite_arbitrum","pools":3,"debt_usd":5337051.690392204,"share":0.000768329879634079},{"venue_id":"aave_v3_monad","pools":1,"debt_usd":8149370.315789473,"share":0.0007430237795699189},{"venue_id":"fluid_lending_base","pools":3,"debt_usd":4003092.7115054107,"share":0.0005762911659131763},{"venue_id":"compound_v3_base","pools":1,"debt_usd":3895275.3722995296,"share":0.0005420773010719212},{"venue_id":"euler_v2_ethereum","pools":4,"debt_usd":2516874.5172237665,"share":0.00036233298964554513},{"venue_id":"morpho_blue_optimism","pools":1,"debt_usd":2324727.2082656357,"share":0.00033467117796971257},{"venue_id":"compound_v3_arbitrum","pools":1,"debt_usd":1790868.798845896,"share":0.0002578161292937709},{"venue_id":"compound_v3_optimism","pools":1,"debt_usd":1473292.0649893906,"share":0.00021209731151694295},{"venue_id":"tydro_ink","pools":1,"debt_usd":2271383.4736842103,"share":0.00020709476537096076},{"venue_id":"euler_v2_unichain","pools":4,"debt_usd":758823.3701965775,"share":0.00010924133819731054},{"venue_id":"morpho_blue_unichain","pools":1,"debt_usd":668589.505960541,"share":0.000096251137226951},{"venue_id":"kamino_lend_solana","pools":1,"debt_usd":659474.8149682325,"share":0.00009493897278874081},{"venue_id":"fluid_lending_polygon","pools":1,"debt_usd":482815.6943486948,"share":0.0000695068636850913},{"venue_id":"aave_v2_ethereum","pools":1,"debt_usd":2031881.992084322,"share":0.00006825297410637424},{"venue_id":"tender_finance_arbitrum","pools":1,"debt_usd":395579.3333333333,"share":0.00005694818772560809},{"venue_id":"etherfi_borrowing_optimism","pools":1,"debt_usd":1059860.4172006345,"share":0.00003560178489369863},{"venue_id":"justlend_v1_tron","pools":1,"debt_usd":233193.4608881945,"share":0.00003357087660556538},{"venue_id":"euler_v2_arbitrum","pools":1,"debt_usd":232660.45259492233,"share":0.00003349414394087131},{"venue_id":"arcadia_v2_base","pools":1,"debt_usd":183819.10183771927,"share":0.000026462870622682788},{"venue_id":"aave_v3_megaeth","pools":1,"debt_usd":267068.2631578947,"share":0.000024350110819025765},{"venue_id":"neverland_monad","pools":1,"debt_usd":93240.79050345566,"share":0.000013423082537025585},{"venue_id":"save_solana","pools":1,"debt_usd":91513.79644327411,"share":0.000013174461909877312},{"venue_id":"extra_finance_xlend_optimism","pools":1,"debt_usd":83453.26666666666,"share":0.000012014056084279511},{"venue_id":"kinza_finance_bsc","pools":1,"debt_usd":81436.03333333334,"share":0.000011723652180756524},{"venue_id":"extra_finance_xlend_base","pools":4,"debt_usd":51777.96666666667,"share":0.000007454032901407754},{"venue_id":"curve_llamalend_optimism","pools":1,"debt_usd":51525.083333333336,"share":0.000005934101953241779},{"venue_id":"dolomite_berachain","pools":2,"debt_usd":30685.945100634424,"share":0.000004417594183708535},{"venue_id":"folks_finance_xchain_ethereum","pools":1,"debt_usd":37730.333333333336,"share":0.000004345371812042291},{"venue_id":"tectonic_cronos","pools":1,"debt_usd":28232.50084921821,"share":0.000004064392709236584},{"venue_id":"navi_lending_sui","pools":1,"debt_usd":22942.86309046536,"share":0.0000033028886095467062},{"venue_id":"aave_v2_polygon","pools":1,"debt_usd":96139.35458645511,"share":0.0000032294182953320555},{"venue_id":"aave_v3_mantle","pools":1,"debt_usd":17571.653706466506,"share":0.0000025296413376631538},{"venue_id":"exactly_optimism","pools":3,"debt_usd":4292.916666666667,"share":4.944117219950319e-7},{"venue_id":"folks_finance_xchain_base","pools":1,"debt_usd":4165.708333333333,"share":4.797612416761847e-7},{"venue_id":"moonwell_lending_moonbeam","pools":1,"debt_usd":1506.969303733705,"share":2.169455367716108e-7},{"venue_id":"scallop_lend_sui","pools":1,"debt_usd":257.9166666666667,"share":2.9704052791897967e-8},{"venue_id":"silo_v2_sonic","pools":1,"debt_usd":754,"share":7.236463911176435e-9},{"venue_id":"folks_finance_xchain_monad","pools":1,"debt_usd":129.33333333333334,"share":3.723803710260553e-9}],"composition_debt_basis":"mean_daily_borrowed_usd_30d","points":[{"tenor_days":7,"tenor_type":"lookback_window","borrow_rate_cc":1.959821486342644,"lend_rate_cc":1.1644060888190182,"spread_cc":0.6041534506924595,"spread_pools":35,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":97,"venue_count":54,"debt_usd":6764007099,"supplied_usd":9469306124,"days_observed":7,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9788112837612705,"origin":"aggregator_defillama","supplied_usd":9469306124},{"scope":"isolated markets, per-market supply rate from the venue's own API — 19 market-observation(s) across 2 venue(s)","share":0.021188716238729463,"origin":"venue_api_morpho","supplied_usd":204985827}],"collateral_coverage":{"btc_usd":568754,"other_usd":331575342,"mixed_pooled_usd":6431863003},"leg_basis":"two_sided","borrow_p10_cc":1.8773354612062525,"borrow_p50_cc":1.9543451584874205,"borrow_p90_cc":1.976813492891807,"borrow_sd_cc":0.1692024032026224,"lend_p10_cc":0.0002703476050705802,"lend_p50_cc":1.329525584092825,"lend_p90_cc":1.4293419353158556,"lend_sd_cc":0.47699726091659495,"dispersion_pools":53,"dispersion_venues":36,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":14,"tenor_type":"lookback_window","borrow_rate_cc":1.9975747786901772,"lend_rate_cc":1.2065722035549986,"spread_cc":0.5907832163046693,"spread_pools":35,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":97,"venue_count":54,"debt_usd":6931910110,"supplied_usd":9553173767,"days_observed":14,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9780991373004099,"origin":"aggregator_defillama","supplied_usd":9553173767},{"scope":"isolated markets, per-market supply rate from the venue's own API — 19 market-observation(s) across 2 venue(s)","share":0.021900862699590122,"origin":"venue_api_morpho","supplied_usd":213907506}],"collateral_coverage":{"btc_usd":580955,"other_usd":344702267,"mixed_pooled_usd":6586626888},"leg_basis":"two_sided","borrow_p10_cc":1.8931649492668536,"borrow_p50_cc":1.976813492891807,"borrow_p90_cc":2.073619952619343,"borrow_sd_cc":0.20524166575439468,"lend_p10_cc":0.0002899995794924988,"lend_p50_cc":1.3611979612061529,"lend_p90_cc":1.4895790311174102,"lend_sd_cc":0.4944586838301695,"dispersion_pools":56,"dispersion_venues":39,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":30,"tenor_type":"lookback_window","borrow_rate_cc":2.0123390438708353,"lend_rate_cc":1.2177194159356564,"spread_cc":0.5871960295428406,"spread_pools":36,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":97,"venue_count":54,"debt_usd":6875497732,"supplied_usd":9400003103,"days_observed":30,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.97632165669645,"origin":"aggregator_defillama","supplied_usd":9400003103},{"scope":"isolated markets, per-market supply rate from the venue's own API — 20 market-observation(s) across 2 venue(s)","share":0.023678343303549988,"origin":"venue_api_morpho","supplied_usd":227974560}],"collateral_coverage":{"btc_usd":556783,"other_usd":378681520,"mixed_pooled_usd":6496259429},"leg_basis":"two_sided","borrow_p10_cc":1.8773354612062525,"borrow_p50_cc":2.03433,"borrow_p90_cc":2.06106,"borrow_sd_cc":0.28140875690709616,"lend_p10_cc":0.0003199994880102941,"lend_p50_cc":1.43265,"lend_p90_cc":1.47472,"lend_sd_cc":0.5198498540152702,"dispersion_pools":57,"dispersion_venues":40,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":60,"tenor_type":"lookback_window","borrow_rate_cc":2.0462834126510367,"lend_rate_cc":1.240238988224113,"spread_cc":0.5922484648603551,"spread_pools":37,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":97,"venue_count":54,"debt_usd":6528246974,"supplied_usd":8870512572,"days_observed":60,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9777317627952711,"origin":"aggregator_defillama","supplied_usd":8870512572},{"scope":"isolated markets, per-market supply rate from the venue's own API — 23 market-observation(s) across 3 venue(s)","share":0.02226823720472893,"origin":"venue_api_morpho","supplied_usd":202029519}],"collateral_coverage":{"btc_usd":564346,"other_usd":383080108,"mixed_pooled_usd":6144602520},"leg_basis":"two_sided","borrow_p10_cc":1.90548,"borrow_p50_cc":2.0411,"borrow_p90_cc":2.16107,"borrow_sd_cc":0.3053661703869842,"lend_p10_cc":0.0003199994880102941,"lend_p50_cc":1.44289,"lend_p90_cc":1.52252,"lend_sd_cc":0.5463159170179531,"dispersion_pools":58,"dispersion_venues":41,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":90,"tenor_type":"lookback_window","borrow_rate_cc":2.054762317374719,"lend_rate_cc":1.2422546310627778,"spread_cc":0.599415909697646,"spread_pools":37,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":97,"venue_count":54,"debt_usd":5961111404,"supplied_usd":8115950177,"days_observed":90,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9774152894271,"origin":"aggregator_defillama","supplied_usd":8115950177},{"scope":"isolated markets, per-market supply rate from the venue's own API — 23 market-observation(s) across 3 venue(s)","share":0.022584710572900017,"origin":"venue_api_morpho","supplied_usd":187531736}],"collateral_coverage":{"btc_usd":504449,"other_usd":362180241,"mixed_pooled_usd":5598426715},"leg_basis":"two_sided","borrow_p10_cc":1.9103511723844513,"borrow_p50_cc":2.04701,"borrow_p90_cc":2.16392,"borrow_sd_cc":0.3032422396929083,"lend_p10_cc":0.0005099986995135359,"lend_p50_cc":1.44524,"lend_p90_cc":1.53655,"lend_sd_cc":0.5518088642829014,"dispersion_pools":58,"dispersion_venues":41,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":180,"tenor_type":"lookback_window","borrow_rate_cc":2.3535944006279057,"lend_rate_cc":1.4227205498732831,"spread_cc":0.6176093250831344,"spread_pools":40,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":97,"venue_count":54,"debt_usd":5431727867,"supplied_usd":7270037384,"days_observed":180,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9761028558324286,"origin":"aggregator_defillama","supplied_usd":7270037384},{"scope":"isolated markets, per-market supply rate from the venue's own API — 23 market-observation(s) across 3 venue(s)","share":0.023897144167571334,"origin":"venue_api_morpho","supplied_usd":177986501}],"collateral_coverage":{"btc_usd":2025091,"other_usd":343968692,"mixed_pooled_usd":5085734085},"leg_basis":"two_sided","borrow_p10_cc":1.91101,"borrow_p50_cc":2.07313,"borrow_p90_cc":2.49669,"borrow_sd_cc":1.6057149597590368,"lend_p10_cc":0.0005199986479974355,"lend_p50_cc":1.4494446297072,"lend_p90_cc":1.71998,"lend_sd_cc":0.9682661003434764,"dispersion_pools":65,"dispersion_venues":44,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":365,"tenor_type":"lookback_window","borrow_rate_cc":2.2980267173227666,"lend_rate_cc":1.4148805788639915,"spread_cc":0.633422339420035,"spread_pools":47,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":97,"venue_count":54,"debt_usd":7323488492,"supplied_usd":9689815040,"days_observed":365,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9773298611259725,"origin":"aggregator_defillama","supplied_usd":9689815040},{"scope":"isolated markets, per-market supply rate from the venue's own API — 23 market-observation(s) across 3 venue(s)","share":0.022670138874027444,"origin":"venue_api_morpho","supplied_usd":224764904}],"collateral_coverage":{"btc_usd":3602280,"other_usd":421517374,"mixed_pooled_usd":6898368838},"leg_basis":"two_sided","borrow_p10_cc":1.93425,"borrow_p50_cc":2.12871,"borrow_p90_cc":2.51711,"borrow_sd_cc":1.0559586986994833,"lend_p10_cc":0.0004799988479952847,"lend_p50_cc":1.45487,"lend_p90_cc":1.90562,"lend_sd_cc":0.7978708486919922,"dispersion_pools":77,"dispersion_venues":49,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":730,"tenor_type":"lookback_window","borrow_rate_cc":2.4779623562350124,"lend_rate_cc":1.606185215980462,"spread_cc":0.6504119033977919,"spread_pools":49,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":97,"venue_count":54,"debt_usd":7880851883,"supplied_usd":10024668697,"days_observed":730,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.9782950119424468,"origin":"aggregator_defillama","supplied_usd":10024668697},{"scope":"isolated markets, per-market supply rate from the venue's own API — 23 market-observation(s) across 3 venue(s)","share":0.021704988057553092,"origin":"venue_api_morpho","supplied_usd":222412781}],"collateral_coverage":{"btc_usd":8411271,"other_usd":380098544,"mixed_pooled_usd":7492342069},"leg_basis":"two_sided","borrow_p10_cc":1.97203,"borrow_p50_cc":2.40964,"borrow_p90_cc":2.69804,"borrow_sd_cc":0.9488862899458882,"lend_p10_cc":0.0007399972620236843,"lend_p50_cc":1.70753,"lend_p90_cc":2.05555,"lend_sd_cc":0.8371009950532873,"dispersion_pools":82,"dispersion_venues":51,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."}]},{"class_id":"eur|algorithmic","class":"algorithmic","denomination":"eur","family":"A","axis":"lookback_window","has_lender":true,"wrapper_classes":["custodial"],"composition":[{"venue_id":"morpho_blue_ethereum","pools":12,"debt_usd":32005108.17546133,"share":0.43095847394900405},{"venue_id":"aave_v3_ethereum","pools":1,"debt_usd":29914517.651336055,"share":0.4028080394311776},{"venue_id":"morpho_blue_base","pools":5,"debt_usd":5516380.660640549,"share":0.07427973616580917},{"venue_id":"aave_v3_base","pools":1,"debt_usd":4234098.95570844,"share":0.05701342468513245},{"venue_id":"fluid_lending_base","pools":5,"debt_usd":874024.7642177828,"share":0.011769008138198688},{"venue_id":"aave_v3_avalanche","pools":1,"debt_usd":771965.0116973071,"share":0.010394742662928091},{"venue_id":"kamino_lend_solana","pools":1,"debt_usd":383576.1010856309,"share":0.005164968362578879},{"venue_id":"moonwell_lending_base","pools":1,"debt_usd":359653.8744512895,"share":0.0029057090018313665},{"venue_id":"euler_v2_avalanche","pools":1,"debt_usd":154208.3404472659,"share":0.002076462004284547},{"venue_id":"aave_v3_polygon","pools":1,"debt_usd":251431.85714285713,"share":0.001579949513135731},{"venue_id":"aave_v4_ethereum","pools":3,"debt_usd":212753.67180669526,"share":0.0006684516115192218},{"venue_id":"benqi_lending_avalanche","pools":1,"debt_usd":20032.704936001384,"share":0.0002697464386297265},{"venue_id":"folks_finance_xchain_avalanche","pools":1,"debt_usd":10089.083333333334,"share":0.00010868204995379596},{"venue_id":"aave_v4_avalanche","pools":2,"debt_usd":829.3574158471417,"share":0.0000026057613785963014},{"venue_id":"etherfi_borrowing_optimism","pools":1,"debt_usd":0.50003643185492,"share":2.2443806616712082e-10}],"composition_debt_basis":"mean_daily_borrowed_usd_30d","points":[{"tenor_days":7,"tenor_type":"lookback_window","borrow_rate_cc":3.0818907374741205,"lend_rate_cc":2.0220323869959116,"spread_cc":1.7200323361488836,"spread_pools":5,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":41,"venue_count":14,"debt_usd":83416839,"supplied_usd":63940221,"days_observed":7,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.5377661002655129,"origin":"aggregator_defillama","supplied_usd":63940221},{"scope":"isolated markets, per-market supply rate from the venue's own API — 15 market-observation(s) across 2 venue(s)","share":0.46223389973448703,"origin":"contract_read","supplied_usd":54959466}],"collateral_coverage":{"btc_usd":24818340,"other_usd":23491805,"mixed_pooled_usd":35106694},"leg_basis":"two_sided","borrow_p10_cc":1.9138862320848,"borrow_p50_cc":3.3067335621024,"borrow_p90_cc":3.8850899746131518,"borrow_sd_cc":1.3551026137037785,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":21,"dispersion_venues":9,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":14,"tenor_type":"lookback_window","borrow_rate_cc":3.172258831186522,"lend_rate_cc":2.125558249156797,"spread_cc":1.7147530203468893,"spread_pools":5,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":41,"venue_count":14,"debt_usd":83604081,"supplied_usd":59581260,"days_observed":14,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.5206992721345362,"origin":"aggregator_defillama","supplied_usd":59581260},{"scope":"isolated markets, per-market supply rate from the venue's own API — 15 market-observation(s) across 2 venue(s)","share":0.47930072786546396,"origin":"venue_api_morpho","supplied_usd":54844212}],"collateral_coverage":{"btc_usd":24526788,"other_usd":24004165,"mixed_pooled_usd":35073128},"leg_basis":"two_sided","borrow_p10_cc":1.9049907148848002,"borrow_p50_cc":3.3292744195247996,"borrow_p90_cc":4.10004,"borrow_sd_cc":1.3656722954875495,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":21,"dispersion_venues":9,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":30,"tenor_type":"lookback_window","borrow_rate_cc":3.2290565379275407,"lend_rate_cc":2.156123527068716,"spread_cc":1.717233339564317,"spread_pools":5,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":41,"venue_count":14,"debt_usd":76871333,"supplied_usd":57756160,"days_observed":30,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.543558437713142,"origin":"aggregator_defillama","supplied_usd":57756160},{"scope":"isolated markets, per-market supply rate from the venue's own API — 15 market-observation(s) across 2 venue(s)","share":0.45644156228685784,"origin":"venue_api_morpho","supplied_usd":48499499}],"collateral_coverage":{"btc_usd":22536310,"other_usd":18815072,"mixed_pooled_usd":35519950},"leg_basis":"two_sided","borrow_p10_cc":1.9149831613872002,"borrow_p50_cc":3.7498076420084363,"borrow_p90_cc":4.19674,"borrow_sd_cc":1.2295499804418992,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":21,"dispersion_venues":9,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":60,"tenor_type":"lookback_window","borrow_rate_cc":3.5102565536614994,"lend_rate_cc":2.2303382868996384,"spread_cc":1.7365488512237317,"spread_pools":5,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":41,"venue_count":14,"debt_usd":67703626,"supplied_usd":56977652,"days_observed":60,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.5678785010103329,"origin":"aggregator_defillama","supplied_usd":56977652},{"scope":"isolated markets, per-market supply rate from the venue's own API — 15 market-observation(s) across 2 venue(s)","share":0.43212149898966723,"origin":"venue_api_morpho","supplied_usd":43356578}],"collateral_coverage":{"btc_usd":16408859,"other_usd":15581286,"mixed_pooled_usd":35713480},"leg_basis":"two_sided","borrow_p10_cc":1.9166738887482975,"borrow_p50_cc":3.884609487077681,"borrow_p90_cc":4.34411,"borrow_sd_cc":2.6993888948654385,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":21,"dispersion_venues":9,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":90,"tenor_type":"lookback_window","borrow_rate_cc":3.6588408733672826,"lend_rate_cc":2.3087577110888757,"spread_cc":1.70847251653678,"spread_pools":5,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":41,"venue_count":14,"debt_usd":64703897,"supplied_usd":55751280,"days_observed":90,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.5788676216379439,"origin":"aggregator_defillama","supplied_usd":55751280},{"scope":"isolated markets, per-market supply rate from the venue's own API — 15 market-observation(s) across 2 venue(s)","share":0.42113237836205614,"origin":"venue_api_morpho","supplied_usd":40559651}],"collateral_coverage":{"btc_usd":14218005,"other_usd":14296234,"mixed_pooled_usd":36189658},"leg_basis":"two_sided","borrow_p10_cc":1.890926611272,"borrow_p50_cc":3.93859,"borrow_p90_cc":4.57652,"borrow_sd_cc":2.3897142365911694,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":22,"dispersion_venues":9,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":180,"tenor_type":"lookback_window","borrow_rate_cc":3.577950373120776,"lend_rate_cc":2.1147146245564286,"spread_cc":1.7336204143526082,"spread_pools":5,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":41,"venue_count":14,"debt_usd":63928615,"supplied_usd":59025769,"days_observed":180,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.6012439776674097,"origin":"aggregator_defillama","supplied_usd":59025769},{"scope":"isolated markets, per-market supply rate from the venue's own API — 15 market-observation(s) across 2 venue(s)","share":0.39875602233259044,"origin":"venue_api_morpho","supplied_usd":39146972}],"collateral_coverage":{"btc_usd":13976924,"other_usd":12854745,"mixed_pooled_usd":37096946},"leg_basis":"two_sided","borrow_p10_cc":1.5028405677893117,"borrow_p50_cc":3.85388,"borrow_p90_cc":4.57652,"borrow_sd_cc":2.4580445864829046,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":23,"dispersion_venues":9,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":365,"tenor_type":"lookback_window","borrow_rate_cc":3.7431801122865087,"lend_rate_cc":2.1938226582757117,"spread_cc":1.7988075051256815,"spread_pools":5,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":41,"venue_count":14,"debt_usd":73837112,"supplied_usd":79596979,"days_observed":365,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7101321864088608,"origin":"aggregator_defillama","supplied_usd":79596979},{"scope":"isolated markets, per-market supply rate from the venue's own API — 15 market-observation(s) across 2 venue(s)","share":0.2898678135911392,"origin":"venue_api_morpho","supplied_usd":32490574}],"collateral_coverage":{"btc_usd":14594139,"other_usd":10685087,"mixed_pooled_usd":48557885},"leg_basis":"two_sided","borrow_p10_cc":1.3836039028175362,"borrow_p50_cc":3.84972,"borrow_p90_cc":5.08963,"borrow_sd_cc":2.285171459310399,"lend_p10_cc":1.2892335543874252,"lend_p50_cc":2.20825,"lend_p90_cc":3.28056,"lend_sd_cc":1.593767581275794,"dispersion_pools":25,"dispersion_venues":9,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":730,"tenor_type":"lookback_window","borrow_rate_cc":4.2771645580164535,"lend_rate_cc":2.5576049543784856,"spread_cc":1.8746213635404492,"spread_pools":6,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":41,"venue_count":14,"debt_usd":51453438,"supplied_usd":54914459,"days_observed":730,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7415892457717791,"origin":"aggregator_defillama","supplied_usd":54914459},{"scope":"isolated markets, per-market supply rate from the venue's own API — 15 market-observation(s) across 2 venue(s)","share":0.2584107542282209,"origin":"venue_api_morpho","supplied_usd":19347263}],"collateral_coverage":{"btc_usd":8749648,"other_usd":7434393,"mixed_pooled_usd":35269397},"leg_basis":"two_sided","borrow_p10_cc":1.5040325122738674,"borrow_p50_cc":4.076096865821499,"borrow_p90_cc":6.05761,"borrow_sd_cc":2.685466405492053,"lend_p10_cc":1.480703281153903,"lend_p50_cc":2.40999,"lend_p90_cc":4.055175000749589,"lend_sd_cc":1.9758679279080598,"dispersion_pools":29,"dispersion_venues":10,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."}]},{"class_id":"sgd|algorithmic","class":"algorithmic","denomination":"sgd","family":"A","axis":"lookback_window","has_lender":true,"wrapper_classes":["custodial"],"composition":[],"composition_debt_basis":"mean_daily_borrowed_usd_30d","points":[{"tenor_days":60,"tenor_type":"lookback_window","borrow_rate_cc":null,"lend_rate_cc":0.6791960315859742,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":"borrow leg below the size floor — every book observed borrows less than $250,000","pool_count":1,"venue_count":1,"debt_usd":0,"supplied_usd":0,"days_observed":60,"lend_observers":[{"scope":"isolated markets, per-market supply rate from the venue's own API — 1 market-observation(s) across 1 venue(s)","share":1,"origin":"venue_api_morpho","supplied_usd":930353}],"collateral_coverage":{"btc_usd":0,"other_usd":0,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"no pool-level rows carry both a rate and a book at this window","dispersion_note":null},{"tenor_days":90,"tenor_type":"lookback_window","borrow_rate_cc":null,"lend_rate_cc":0.6865705876334196,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":"borrow leg below the size floor — every book observed borrows less than $250,000","pool_count":1,"venue_count":1,"debt_usd":0,"supplied_usd":0,"days_observed":90,"lend_observers":[{"scope":"isolated markets, per-market supply rate from the venue's own API — 1 market-observation(s) across 1 venue(s)","share":1,"origin":"venue_api_morpho","supplied_usd":955602}],"collateral_coverage":{"btc_usd":0,"other_usd":0,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"no pool-level rows carry both a rate and a book at this window","dispersion_note":null},{"tenor_days":180,"tenor_type":"lookback_window","borrow_rate_cc":null,"lend_rate_cc":0.7642377975605659,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":"borrow leg below the size floor — every book observed borrows less than $250,000","pool_count":1,"venue_count":1,"debt_usd":0,"supplied_usd":0,"days_observed":174,"lend_observers":[{"scope":"isolated markets, per-market supply rate from the venue's own API — 1 market-observation(s) across 1 venue(s)","share":1,"origin":"venue_api_morpho","supplied_usd":978575}],"collateral_coverage":{"btc_usd":0,"other_usd":0,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"no pool-level rows carry both a rate and a book at this window","dispersion_note":null},{"tenor_days":365,"tenor_type":"lookback_window","borrow_rate_cc":null,"lend_rate_cc":0.7797183465956995,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":"borrow leg below the size floor — every book observed borrows less than $250,000","pool_count":1,"venue_count":1,"debt_usd":0,"supplied_usd":0,"days_observed":191,"lend_observers":[{"scope":"isolated markets, per-market supply rate from the venue's own API — 1 market-observation(s) across 1 venue(s)","share":1,"origin":"venue_api_morpho","supplied_usd":884247}],"collateral_coverage":{"btc_usd":0,"other_usd":0,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"no pool-level rows carry both a rate and a book at this window","dispersion_note":null},{"tenor_days":730,"tenor_type":"lookback_window","borrow_rate_cc":null,"lend_rate_cc":0.7797183465956995,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":"borrow leg below the size floor — every book observed borrows less than $250,000","pool_count":1,"venue_count":1,"debt_usd":0,"supplied_usd":0,"days_observed":191,"lend_observers":[{"scope":"isolated markets, per-market supply rate from the venue's own API — 1 market-observation(s) across 1 venue(s)","share":1,"origin":"venue_api_morpho","supplied_usd":884247}],"collateral_coverage":{"btc_usd":0,"other_usd":0,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"no pool-level rows carry both a rate and a book at this window","dispersion_note":null}]},{"class_id":"usd|algorithmic","class":"algorithmic","denomination":"usd","family":"A","axis":"lookback_window","has_lender":true,"wrapper_classes":["custodial"],"composition":[{"venue_id":"aave_v3_ethereum","pools":29,"debt_usd":3884616836.9275923,"share":0.24966985644412576},{"venue_id":"morpho_blue_ethereum","pools":173,"debt_usd":2215955422.00717,"share":0.14242261085824173},{"venue_id":"morpho_blue_base","pools":40,"debt_usd":2037552946.5841153,"share":0.13095642968826574},{"venue_id":"spark_ethereum","pools":6,"debt_usd":1490701738.6481533,"share":0.09580952374794809},{"venue_id":"kamino_lend_solana","pools":102,"debt_usd":1005222673.409291,"share":0.06460709282282195},{"venue_id":"jupiter_lend_solana","pools":70,"debt_usd":795040544.4921502,"share":0.05109838806331535},{"venue_id":"compound_v3_ethereum","pools":2,"debt_usd":477568744.5141982,"share":0.03069402334655116},{"venue_id":"fira_ethereum","pools":5,"debt_usd":437964706.9338402,"share":0.02814861544858296},{"venue_id":"dolomite_ethereum","pools":4,"debt_usd":316560360.71663135,"share":0.020345785217399347},{"venue_id":"venus_core_pool_bsc","pools":31,"debt_usd":255959183.5312701,"share":0.016450861253629222},{"venue_id":"aave_v3_monad","pools":6,"debt_usd":248885388.80677125,"share":0.01599621839243582},{"venue_id":"hyperlend_pooled_hyperliquid_l1","pools":10,"debt_usd":239676240.7658367,"share":0.015404333332499933},{"venue_id":"fluid_lending_ethereum","pools":40,"debt_usd":205348186.5207458,"share":0.013198020397359412},{"venue_id":"justlend_v1_tron","pools":19,"debt_usd":202125250.5469958,"share":0.012990877712334342},{"venue_id":"aave_v3_avalanche","pools":9,"debt_usd":166498140.25787908,"share":0.010701072595174313},{"venue_id":"aave_v3_base","pools":3,"debt_usd":163125831.70602766,"share":0.01048432952182349},{"venue_id":"aave_v3_mantle","pools":4,"debt_usd":143517788.44346127,"share":0.009224092656252183},{"venue_id":"morpho_blue_monad","pools":31,"debt_usd":85769617.94431444,"share":0.0055125354953569254},{"venue_id":"curvance_monad","pools":22,"debt_usd":76922199.84691346,"share":0.004943899334055018},{"venue_id":"aave_v3_xlayer","pools":6,"debt_usd":73747256.14579259,"share":0.004739841180740732},{"venue_id":"inverse_finance_firm_ethereum","pools":17,"debt_usd":71143276.2812032,"share":0.004572479686346955},{"venue_id":"navi_lending_sui","pools":26,"debt_usd":70913333.32295555,"share":0.0045577009249436985},{"venue_id":"curve_llamalend_ethereum","pools":18,"debt_usd":70892045.29249923,"share":0.004556332712908605},{"venue_id":"fluid_lending_arbitrum","pools":22,"debt_usd":69915616.93398675,"share":0.004493576271712054},{"venue_id":"euler_v2_monad","pools":15,"debt_usd":68211690.02139775,"share":0.004384062462367128},{"venue_id":"aave_v3_bsc","pools":4,"debt_usd":65126064.57117321,"share":0.004185744920241863},{"venue_id":"current_sui","pools":8,"debt_usd":62178927.773619056,"share":0.003996328241054395},{"venue_id":"morpho_blue_hyperliquid_l1","pools":34,"debt_usd":58777651.473085806,"share":0.003777723369240941},{"venue_id":"tydro_ink","pools":6,"debt_usd":55059893.772566766,"share":0.003538777787128711},{"venue_id":"aave_v4_ethereum","pools":38,"debt_usd":191499305.67644423,"share":0.002871851057228234},{"venue_id":"aave_v3_arbitrum","pools":7,"debt_usd":41924812.74082767,"share":0.0026945674226980156},{"venue_id":"save_solana","pools":35,"debt_usd":38755564.060357586,"share":0.002490875296471603},{"venue_id":"euler_v2_ethereum","pools":38,"debt_usd":37853964.68532673,"share":0.0024329282206122234},{"venue_id":"benqi_lending_avalanche","pools":13,"debt_usd":37795580.27080699,"share":0.0024291757711420083},{"venue_id":"euler_v2_avalanche","pools":10,"debt_usd":32961369.819852103,"share":0.002118474180746493},{"venue_id":"aave_v3_polygon","pools":6,"debt_usd":24148631.947714362,"share":0.0015520669669126122},{"venue_id":"morpho_blue_katana","pools":19,"debt_usd":17275117.536807735,"share":0.0011102964067059623},{"venue_id":"folks_finance_lending_algorand","pools":16,"debt_usd":12981487.720352482,"share":0.0008343387035656814},{"venue_id":"euler_v2_bsc","pools":11,"debt_usd":12474315.116505647,"share":0.0008017419980190456},{"venue_id":"echelon_market_aptos","pools":11,"debt_usd":11963460.771645894,"share":0.0007689086617341034},{"venue_id":"moonwell_lending_base","pools":10,"debt_usd":11727075.442908706,"share":0.0007537158400044859},{"venue_id":"morpho_blue_arbitrum","pools":18,"debt_usd":10771585.665073633,"share":0.0006923051512080611},{"venue_id":"compound_v3_arbitrum","pools":1,"debt_usd":10222256.593787936,"share":0.0006569989894613702},{"venue_id":"etherfi_borrowing_optimism","pools":3,"debt_usd":39540981.705630966,"share":0.000592982881656091},{"venue_id":"fluid_lending_base","pools":10,"debt_usd":8559646.760672241,"share":0.000550140687656526},{"venue_id":"compound_v3_base","pools":2,"debt_usd":8441377.117900046,"share":0.0005425393292800879},{"venue_id":"tectonic_cronos","pools":12,"debt_usd":8391207.298346728,"share":0.0005393148435273022},{"venue_id":"neverland_monad","pools":10,"debt_usd":6864472.757140248,"share":0.0004411894402422793},{"venue_id":"aave_v3_megaeth","pools":2,"debt_usd":5961244.371168473,"share":0.0003831376655297464},{"venue_id":"fraxlend_ethereum","pools":9,"debt_usd":4690676.6079520155,"share":0.0003014764658898655},{"venue_id":"dolomite_arbitrum","pools":10,"debt_usd":3930207.323980272,"share":0.000252600021975371},{"venue_id":"aave_v3_optimism","pools":7,"debt_usd":3709857.6926943483,"share":0.0002384378373584232},{"venue_id":"takara_lend_sei","pools":6,"debt_usd":3161053.2357052057,"share":0.00020316539331970894},{"venue_id":"hypurrfi_pooled_hyperliquid_l1","pools":13,"debt_usd":2851829.825570951,"share":0.00018329116436526614},{"venue_id":"morpho_blue_tempo","pools":1,"debt_usd":2791726.4998604,"share":0.00017942823802480465},{"venue_id":"dolomite_berachain","pools":7,"debt_usd":2379912.614341848,"share":0.00015296037311166315},{"venue_id":"scallop_lend_sui","pools":22,"debt_usd":2330606.109879362,"share":0.0001497913738492682},{"venue_id":"lista_cdp_bsc","pools":6,"debt_usd":2245468.6565192495,"share":0.0001443194684720445},{"venue_id":"aave_v2_ethereum","pools":30,"debt_usd":9464335.197899299,"share":0.0001419334704532709},{"venue_id":"arcadia_v2_base","pools":1,"debt_usd":1856883.8728783333,"share":0.00011934457101864928},{"venue_id":"aave_v3_linea","pools":3,"debt_usd":1568678.019789755,"share":0.00010082117038799826},{"venue_id":"folks_finance_xchain_avalanche","pools":7,"debt_usd":1744854.1538461538,"share":0.00009719169323730716},{"venue_id":"euler_v2_base","pools":13,"debt_usd":1482174.6164494595,"share":0.00009526147346021025},{"venue_id":"aave_v4_avalanche","pools":7,"debt_usd":5985590.472175073,"share":0.00008976389896000382},{"venue_id":"compound_v3_optimism","pools":1,"debt_usd":1392180.9670998366,"share":0.00008947745345071706},{"venue_id":"euler_v2_hyperliquid_l1","pools":11,"debt_usd":1256893.2030874477,"share":0.00008078231618556147},{"venue_id":"liquidium_icp","pools":3,"debt_usd":1231092.9032326334,"share":0.00007912409417001216},{"venue_id":"fluid_lending_polygon","pools":12,"debt_usd":1183274.2390378127,"share":0.00007605072052054989},{"venue_id":"kinza_finance_bsc","pools":7,"debt_usd":1019959.1666666666,"share":0.00006555422823166934},{"venue_id":"morpho_blue_polygon","pools":6,"debt_usd":918205.7275996119,"share":0.00005901438978915753},{"venue_id":"morpho_blue_optimism","pools":4,"debt_usd":596468.1394169667,"share":0.00003833585678929205},{"venue_id":"colend_protocol_core","pools":3,"debt_usd":576171.1333333333,"share":0.00003703133930201413},{"venue_id":"aave_v2_polygon","pools":8,"debt_usd":2351354.984703839,"share":0.00003526248450294634},{"venue_id":"silo_v2_sonic","pools":10,"debt_usd":546670.3110043248,"share":0.000035135279436894286},{"venue_id":"extra_finance_xlend_base","pools":4,"debt_usd":457435.9,"share":0.000029400056757133976},{"venue_id":"kava_mint_kava","pools":6,"debt_usd":2461123.635094608,"share":0.00002636332017888749},{"venue_id":"euler_v2_arbitrum","pools":6,"debt_usd":383371.9793400743,"share":0.00002463986309708743},{"venue_id":"curve_llamalend_arbitrum","pools":6,"debt_usd":379053.26810171234,"share":0.00002436229337524113},{"venue_id":"compound_v3_polygon","pools":1,"debt_usd":341745.51232114894,"share":0.000021964470778829574},{"venue_id":"aave_v2_avalanche","pools":6,"debt_usd":1431223.559216807,"share":0.000021463581171471236},{"venue_id":"silo_v2_avalanche","pools":5,"debt_usd":227695.61031296666,"share":0.000014634321150901099},{"venue_id":"tender_finance_arbitrum","pools":2,"debt_usd":213695.96666666667,"share":0.00001373454411595288},{"venue_id":"curve_llamalend_optimism","pools":2,"debt_usd":203803.09797786668,"share":0.000013098715356247763},{"venue_id":"zentra_finance_citrea","pools":3,"debt_usd":1215657.2,"share":0.000013022003256710782},{"venue_id":"exactly_optimism","pools":10,"debt_usd":140836.66666666666,"share":0.000007241418513038541},{"venue_id":"asymmetry_usdaf_ethereum","pools":4,"debt_usd":234071.81818181818,"share":0.000005516180674181234},{"venue_id":"avalon_finance_bob","pools":1,"debt_usd":78199.43333333333,"share":0.000005025988949218271},{"venue_id":"layerbank_move","pools":6,"debt_usd":97010.25,"share":0.0000049879895408712014},{"venue_id":"extra_finance_xlend_optimism","pools":3,"debt_usd":83707.04166666667,"share":0.00000430397662443508},{"venue_id":"morpho_blue_unichain","pools":2,"debt_usd":60560.31586366667,"share":0.000003892297748431553},{"venue_id":"moonwell_lending_moonbeam","pools":5,"debt_usd":18883.0638776236,"share":0.0000012136414080108716},{"venue_id":"folks_finance_xchain_monad","pools":3,"debt_usd":17366.083333333332,"share":8.929143263991625e-7},{"venue_id":"euler_v2_unichain","pools":1,"debt_usd":66.08620540939398,"share":4.2474545393131524e-9}],"composition_debt_basis":"mean_daily_borrowed_usd_30d","points":[{"tenor_days":7,"tenor_type":"lookback_window","borrow_rate_cc":5.103642733858319,"lend_rate_cc":3.75546132258287,"spread_cc":1.1345551860457719,"spread_pools":210,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":787,"venue_count":80,"debt_usd":15423990054,"supplied_usd":13306096554,"days_observed":7,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7201046191346467,"origin":"aggregator_defillama","supplied_usd":13300582961},{"scope":"isolated markets, per-market supply rate from the venue's own API — 181 market-observation(s) across 3 venue(s)","share":0.27989538086535326,"origin":"venue_api_morpho","supplied_usd":5169765107}],"collateral_coverage":{"btc_usd":2521924259,"other_usd":2857126745,"mixed_pooled_usd":10044939049},"leg_basis":"two_sided","borrow_p10_cc":3.970118606215626,"borrow_p50_cc":4.701982370074669,"borrow_p90_cc":6.3780847727904,"borrow_sd_cc":2.266117078035843,"lend_p10_cc":0.2685739500707847,"lend_p50_cc":3.431274804052225,"lend_p90_cc":4.57478503263858,"lend_sd_cc":2.474864602347632,"dispersion_pools":462,"dispersion_venues":69,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":14,"tenor_type":"lookback_window","borrow_rate_cc":5.06318050545042,"lend_rate_cc":3.662807243650454,"spread_cc":1.152881747651183,"spread_pools":215,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":787,"venue_count":80,"debt_usd":14905016690,"supplied_usd":12806525785,"days_observed":14,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7181010363410838,"origin":"aggregator_defillama","supplied_usd":12803590910},{"scope":"isolated markets, per-market supply rate from the venue's own API — 184 market-observation(s) across 3 venue(s)","share":0.28189896365891626,"origin":"venue_api_morpho","supplied_usd":5026199415}],"collateral_coverage":{"btc_usd":2493366508,"other_usd":2821411774,"mixed_pooled_usd":9590238408},"leg_basis":"two_sided","borrow_p10_cc":3.9697733796328043,"borrow_p50_cc":4.659738082394753,"borrow_p90_cc":6.539414157651367,"borrow_sd_cc":2.2853311592410623,"lend_p10_cc":0.22281539149404617,"lend_p50_cc":3.4494635428704,"lend_p90_cc":4.639701716179981,"lend_sd_cc":2.3002096817216455,"dispersion_pools":472,"dispersion_venues":71,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":30,"tenor_type":"lookback_window","borrow_rate_cc":4.941833614366269,"lend_rate_cc":3.538390682840572,"spread_cc":1.1963253794424178,"spread_pools":217,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":787,"venue_count":80,"debt_usd":13703054188,"supplied_usd":11749972956,"days_observed":30,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7069755904617927,"origin":"aggregator_defillama","supplied_usd":11748505640},{"scope":"isolated markets, per-market supply rate from the venue's own API — 192 market-observation(s) across 3 venue(s)","share":0.29302440953820735,"origin":"venue_api_morpho","supplied_usd":4869473536}],"collateral_coverage":{"btc_usd":2434235742,"other_usd":2703941603,"mixed_pooled_usd":8564876843},"leg_basis":"two_sided","borrow_p10_cc":3.92596,"borrow_p50_cc":4.6401439490784,"borrow_p90_cc":6.3,"borrow_sd_cc":2.127014797664651,"lend_p10_cc":0.30094017445151466,"lend_p50_cc":3.3600121868377215,"lend_p90_cc":4.3879835847312,"lend_sd_cc":2.2347745846236484,"dispersion_pools":487,"dispersion_venues":71,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":60,"tenor_type":"lookback_window","borrow_rate_cc":4.749618207786347,"lend_rate_cc":3.3785069530847225,"spread_cc":1.1705790311868456,"spread_pools":226,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":787,"venue_count":80,"debt_usd":13721981400,"supplied_usd":11929562127,"days_observed":60,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7237610169831056,"origin":"aggregator_defillama","supplied_usd":11928828469},{"scope":"isolated markets, per-market supply rate from the venue's own API — 210 market-observation(s) across 3 venue(s)","share":0.2762389830168944,"origin":"venue_api_morpho","supplied_usd":4552894350}],"collateral_coverage":{"btc_usd":2329161077,"other_usd":2567325572,"mixed_pooled_usd":8825494751},"leg_basis":"two_sided","borrow_p10_cc":3.6651646695482536,"borrow_p50_cc":4.3857332720185775,"borrow_p90_cc":6.159480255738672,"borrow_sd_cc":2.2760564319254306,"lend_p10_cc":0.43419,"lend_p50_cc":3.19172,"lend_p90_cc":4.23293,"lend_sd_cc":2.317663367091853,"dispersion_pools":511,"dispersion_venues":72,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":90,"tenor_type":"lookback_window","borrow_rate_cc":4.577508323024263,"lend_rate_cc":3.22576466649915,"spread_cc":1.1412614787849207,"spread_pools":234,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":793,"venue_count":80,"debt_usd":13738225386,"supplied_usd":12245546937,"days_observed":90,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7392724408825503,"origin":"aggregator_defillama","supplied_usd":12245028839},{"scope":"isolated markets, per-market supply rate from the venue's own API — 215 market-observation(s) across 3 venue(s)","share":0.26072755911744977,"origin":"venue_api_morpho","supplied_usd":4318592584}],"collateral_coverage":{"btc_usd":2249535578,"other_usd":2428488052,"mixed_pooled_usd":9060201756},"leg_basis":"two_sided","borrow_p10_cc":3.47522,"borrow_p50_cc":4.237851052047496,"borrow_p90_cc":5.965295668596433,"borrow_sd_cc":2.095679673453998,"lend_p10_cc":0.48483,"lend_p50_cc":2.9282,"lend_p90_cc":4.123010531942892,"lend_sd_cc":2.081594243199607,"dispersion_pools":525,"dispersion_venues":72,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":180,"tenor_type":"lookback_window","borrow_rate_cc":4.566424918540753,"lend_rate_cc":3.1697507000380325,"spread_cc":1.1603557424985258,"spread_pools":250,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":794,"venue_count":81,"debt_usd":13124473980,"supplied_usd":12199506759,"days_observed":180,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.7622657746751313,"origin":"aggregator_defillama","supplied_usd":12198762541},{"scope":"isolated markets, per-market supply rate from the venue's own API — 216 market-observation(s) across 3 venue(s)","share":0.2377342253248686,"origin":"venue_api_morpho","supplied_usd":3804530466}],"collateral_coverage":{"btc_usd":2058079908,"other_usd":2110814499,"mixed_pooled_usd":8955579573},"leg_basis":"two_sided","borrow_p10_cc":3.1854,"borrow_p50_cc":4.05128,"borrow_p90_cc":6.14955,"borrow_sd_cc":2.2672787986752283,"lend_p10_cc":0.34078,"lend_p50_cc":2.75773,"lend_p90_cc":4.214499097437416,"lend_sd_cc":2.194567055455969,"dispersion_pools":566,"dispersion_venues":76,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":365,"tenor_type":"lookback_window","borrow_rate_cc":4.512917360095549,"lend_rate_cc":2.9711015517460693,"spread_cc":1.3533138438466354,"spread_pools":272,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":796,"venue_count":81,"debt_usd":14308274034,"supplied_usd":15399431058,"days_observed":365,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.8289336453602517,"origin":"aggregator_defillama","supplied_usd":15397846113},{"scope":"isolated markets, per-market supply rate from the venue's own API — 218 market-observation(s) across 3 venue(s)","share":0.17106635463974837,"origin":"venue_api_morpho","supplied_usd":3177640839}],"collateral_coverage":{"btc_usd":1896887455,"other_usd":1573382883,"mixed_pooled_usd":10838003697},"leg_basis":"two_sided","borrow_p10_cc":3.0524,"borrow_p50_cc":4.18023,"borrow_p90_cc":5.949984831934916,"borrow_sd_cc":2.0335621148550094,"lend_p10_cc":0.87711,"lend_p50_cc":2.68576,"lend_p90_cc":4.14064,"lend_sd_cc":1.8018669986117295,"dispersion_pools":622,"dispersion_venues":78,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":730,"tenor_type":"lookback_window","borrow_rate_cc":5.510887901808747,"lend_rate_cc":3.703571822464676,"spread_cc":1.5927590363489355,"spread_pools":286,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":796,"venue_count":81,"debt_usd":12711247538,"supplied_usd":14293835378,"days_observed":730,"lend_observers":[{"scope":"pooled reserves — both legs belong to the reserve asset (V21)","share":0.8794058613107397,"origin":"aggregator_defillama","supplied_usd":14280247979},{"scope":"isolated markets, per-market supply rate from the venue's own API — 219 market-observation(s) across 3 venue(s)","share":0.12059413868926025,"origin":"venue_api_morpho","supplied_usd":1958270102}],"collateral_coverage":{"btc_usd":1244594876,"other_usd":955810488,"mixed_pooled_usd":10510842173},"leg_basis":"two_sided","borrow_p10_cc":3.32018,"borrow_p50_cc":4.879016416943205,"borrow_p90_cc":8.63815,"borrow_sd_cc":2.9540724100784788,"lend_p10_cc":1.19898,"lend_p50_cc":3.29785,"lend_p90_cc":5.99986,"lend_sd_cc":2.5860439429153153,"dispersion_pools":638,"dispersion_venues":79,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."}]},{"class_id":"usd|auction","class":"auction","denomination":"usd","family":"B","axis":"lookback_window","has_lender":true,"wrapper_classes":["custodial"],"composition":[],"composition_debt_basis":"mean_daily_borrowed_usd_30d","points":[{"tenor_days":7,"tenor_type":"lookback_window","borrow_rate_cc":5.673116666666648,"lend_rate_cc":5.673116666666648,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":1,"venue_count":1,"debt_usd":null,"supplied_usd":null,"days_observed":8,"lend_observers":[],"collateral_coverage":null,"leg_basis":"cleared","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"auction publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":14,"tenor_type":"lookback_window","borrow_rate_cc":5.537208630952403,"lend_rate_cc":5.537208630952403,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":1,"venue_count":1,"debt_usd":null,"supplied_usd":null,"days_observed":15,"lend_observers":[],"collateral_coverage":null,"leg_basis":"cleared","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"auction publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":30,"tenor_type":"lookback_window","borrow_rate_cc":5.489079305555537,"lend_rate_cc":5.489079305555537,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":1,"venue_count":1,"debt_usd":null,"supplied_usd":null,"days_observed":31,"lend_observers":[],"collateral_coverage":null,"leg_basis":"cleared","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"auction publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":60,"tenor_type":"lookback_window","borrow_rate_cc":5.330556111111167,"lend_rate_cc":5.330556111111167,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":1,"venue_count":1,"debt_usd":null,"supplied_usd":null,"days_observed":61,"lend_observers":[],"collateral_coverage":null,"leg_basis":"cleared","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"auction publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":90,"tenor_type":"lookback_window","borrow_rate_cc":4.973764112082345,"lend_rate_cc":4.973764112082345,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":null,"pool_count":1,"venue_count":1,"debt_usd":null,"supplied_usd":null,"days_observed":86,"lend_observers":[],"collateral_coverage":null,"leg_basis":"cleared","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"auction publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null}]},{"class_id":"usd|corporate","class":"corporate","denomination":"usd","family":"C","axis":"lookback_window","has_lender":true,"wrapper_classes":["custodial"],"composition":[],"composition_debt_basis":"mean_daily_borrowed_usd_30d","points":[{"tenor_days":7,"tenor_type":"lookback_window","borrow_rate_cc":null,"lend_rate_cc":11.795019671547095,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","pool_count":4,"venue_count":1,"debt_usd":null,"supplied_usd":null,"days_observed":3,"lend_observers":[],"collateral_coverage":null,"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":14,"tenor_type":"lookback_window","borrow_rate_cc":null,"lend_rate_cc":11.829454018706572,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","pool_count":5,"venue_count":1,"debt_usd":null,"supplied_usd":null,"days_observed":8,"lend_observers":[],"collateral_coverage":null,"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":30,"tenor_type":"lookback_window","borrow_rate_cc":null,"lend_rate_cc":11.864690153096687,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","pool_count":5,"venue_count":1,"debt_usd":null,"supplied_usd":null,"days_observed":20,"lend_observers":[],"collateral_coverage":null,"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":60,"tenor_type":"lookback_window","borrow_rate_cc":null,"lend_rate_cc":11.925582684242652,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","pool_count":5,"venue_count":1,"debt_usd":null,"supplied_usd":null,"days_observed":39,"lend_observers":[],"collateral_coverage":null,"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":90,"tenor_type":"lookback_window","borrow_rate_cc":null,"lend_rate_cc":12.368743675970727,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","pool_count":5,"venue_count":1,"debt_usd":null,"supplied_usd":null,"days_observed":61,"lend_observers":[],"collateral_coverage":null,"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":180,"tenor_type":"lookback_window","borrow_rate_cc":null,"lend_rate_cc":12.317221970922711,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","pool_count":5,"venue_count":1,"debt_usd":null,"supplied_usd":null,"days_observed":122,"lend_observers":[],"collateral_coverage":null,"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":365,"tenor_type":"lookback_window","borrow_rate_cc":null,"lend_rate_cc":11.667739011638073,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","pool_count":5,"venue_count":1,"debt_usd":null,"supplied_usd":null,"days_observed":249,"lend_observers":[],"collateral_coverage":null,"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":730,"tenor_type":"lookback_window","borrow_rate_cc":null,"lend_rate_cc":11.031752799710073,"spread_cc":null,"spread_pools":0,"lend_absence_reason":null,"borrow_absence_reason":"no borrow leg — corporate credit is published as the yield a HOLDER receives; the issuer coupon is a contractual term, not an observed market rate","pool_count":5,"venue_count":1,"debt_usd":null,"supplied_usd":null,"days_observed":420,"lend_observers":[],"collateral_coverage":null,"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"corporate publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null}]},{"class_id":"usd|minted","class":"minted","denomination":"usd","family":"A","axis":"lookback_window","has_lender":false,"wrapper_classes":["custodial"],"composition":[{"venue_id":"sky_ethereum","pools":9,"debt_usd":548462511.553794,"share":0.867237901244752},{"venue_id":"crvusd_ethereum","pools":9,"debt_usd":74176543.80972457,"share":0.1172891652938899},{"venue_id":"felix_cdp_hyperliquid_l1","pools":4,"debt_usd":9785462.483985914,"share":0.015472933461358099}],"composition_debt_basis":"mean_daily_borrowed_usd_30d","points":[{"tenor_days":7,"tenor_type":"lookback_window","borrow_rate_cc":8.122747766337175,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":25,"venue_count":3,"debt_usd":627161416,"supplied_usd":0,"days_observed":7,"lend_observers":null,"collateral_coverage":{"btc_usd":37653571,"other_usd":589507845,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":3.5917485159887996,"borrow_p50_cc":9.758032833886402,"borrow_p90_cc":9.984533496971615,"borrow_sd_cc":2.346956370465648,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":14,"tenor_type":"lookback_window","borrow_rate_cc":7.815286518396032,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":25,"venue_count":3,"debt_usd":628216879,"supplied_usd":0,"days_observed":14,"lend_observers":null,"collateral_coverage":{"btc_usd":38310094,"other_usd":589906785,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":3.5917485159887996,"borrow_p50_cc":8.84686479876082,"borrow_p90_cc":9.984533496971615,"borrow_sd_cc":2.2395735315639875,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":30,"tenor_type":"lookback_window","borrow_rate_cc":7.671345993658389,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":25,"venue_count":3,"debt_usd":632213009,"supplied_usd":0,"days_observed":30,"lend_observers":null,"collateral_coverage":{"btc_usd":39577101,"other_usd":592635908,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":3.5966385105794267,"borrow_p50_cc":8.84686479876082,"borrow_p90_cc":9.758032833886402,"borrow_sd_cc":2.147867725923549,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":60,"tenor_type":"lookback_window","borrow_rate_cc":7.655251964214547,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":25,"venue_count":3,"debt_usd":631146307,"supplied_usd":0,"days_observed":60,"lend_observers":null,"collateral_coverage":{"btc_usd":36708957,"other_usd":594437350,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":3.5966385105794267,"borrow_p50_cc":8.84686479876082,"borrow_p90_cc":9.531017980432493,"borrow_sd_cc":2.2030336644117186,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":90,"tenor_type":"lookback_window","borrow_rate_cc":7.781580351392754,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":25,"venue_count":3,"debt_usd":642179091,"supplied_usd":0,"days_observed":90,"lend_observers":null,"collateral_coverage":{"btc_usd":33022911,"other_usd":609156180,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":4.811326846054712,"borrow_p50_cc":8.84686479876082,"borrow_p90_cc":9.075436326846411,"borrow_sd_cc":2.0507249897646513,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":180,"tenor_type":"lookback_window","borrow_rate_cc":7.648270914637967,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":25,"venue_count":3,"debt_usd":612134196,"supplied_usd":0,"days_observed":180,"lend_observers":null,"collateral_coverage":{"btc_usd":28974957,"other_usd":583159238,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":5.789147841577768,"borrow_p50_cc":7.927318089450789,"borrow_p90_cc":9.075436326846411,"borrow_sd_cc":1.8093814817335565,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":19,"dispersion_venues":3,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":365,"tenor_type":"lookback_window","borrow_rate_cc":7.337327495570966,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":25,"venue_count":3,"debt_usd":604367607,"supplied_usd":0,"days_observed":365,"lend_observers":null,"collateral_coverage":{"btc_usd":32777377,"other_usd":571590230,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":5.246483286827612,"borrow_p50_cc":7.696104113612839,"borrow_p90_cc":9.075436326846411,"borrow_sd_cc":2.234290229015121,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":21,"dispersion_venues":3,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."},{"tenor_days":730,"tenor_type":"lookback_window","borrow_rate_cc":7.4796792598327535,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"no lender exists — the stablecoin is minted against collateral, not supplied","borrow_absence_reason":null,"pool_count":25,"venue_count":3,"debt_usd":777524141,"supplied_usd":0,"days_observed":730,"lend_observers":null,"collateral_coverage":{"btc_usd":67691479,"other_usd":709832662,"mixed_pooled_usd":0},"leg_basis":"two_sided","borrow_p10_cc":4.5652962580281296,"borrow_p50_cc":7.464354299576572,"borrow_p90_cc":11.778303565638346,"borrow_sd_cc":3.1591453535356826,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":23,"dispersion_venues":3,"dispersion_absence_reason":null,"dispersion_note":"p10-p90 of the pool-day rates behind this point, weighted by the same book as the mean (borrow by borrowed_usd, lend by supplied_usd). Where 80% of this window's debt sat — a spread across books AND across the days in the window, not a cross-section at one instant."}]},{"class_id":"usd|posted-card","class":"posted-card","denomination":"usd","family":"B","axis":"lookback_window","has_lender":true,"wrapper_classes":["custodial"],"composition":[],"composition_debt_basis":"mean_daily_borrowed_usd_30d","points":[{"tenor_days":7,"tenor_type":"lookback_window","borrow_rate_cc":11.55274020479272,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"lend leg not observed for these pools","borrow_absence_reason":null,"pool_count":7,"venue_count":7,"debt_usd":null,"supplied_usd":null,"days_observed":7,"lend_observers":null,"collateral_coverage":null,"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":14,"tenor_type":"lookback_window","borrow_rate_cc":11.670431326886161,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"lend leg not observed for these pools","borrow_absence_reason":null,"pool_count":7,"venue_count":7,"debt_usd":null,"supplied_usd":null,"days_observed":14,"lend_observers":null,"collateral_coverage":null,"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":30,"tenor_type":"lookback_window","borrow_rate_cc":11.714978768055905,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"lend leg not observed for these pools","borrow_absence_reason":null,"pool_count":7,"venue_count":7,"debt_usd":null,"supplied_usd":null,"days_observed":30,"lend_observers":null,"collateral_coverage":null,"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":60,"tenor_type":"lookback_window","borrow_rate_cc":11.736230747222363,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"lend leg not observed for these pools","borrow_absence_reason":null,"pool_count":7,"venue_count":7,"debt_usd":null,"supplied_usd":null,"days_observed":60,"lend_observers":null,"collateral_coverage":null,"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null},{"tenor_days":90,"tenor_type":"lookback_window","borrow_rate_cc":11.743600506452076,"lend_rate_cc":null,"spread_cc":null,"spread_pools":0,"lend_absence_reason":"lend leg not observed for these pools","borrow_absence_reason":null,"pool_count":7,"venue_count":7,"debt_usd":null,"supplied_usd":null,"days_observed":85,"lend_observers":null,"collateral_coverage":null,"leg_basis":"two_sided","borrow_p10_cc":null,"borrow_p50_cc":null,"borrow_p90_cc":null,"borrow_sd_cc":null,"lend_p10_cc":null,"lend_p50_cc":null,"lend_p90_cc":null,"lend_sd_cc":null,"dispersion_pools":null,"dispersion_venues":null,"dispersion_absence_reason":"posted-card publishes one rate per source, so there is no cross-sectional spread across books to draw — the sources are averaged, not distributed","dispersion_note":null}]}],"attribution":[{"provider":"IEX","text":"Data provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use.","url":"https://www.iex.io/legal/hist-data-terms","covers":"corporate preferred prices (IEX last regular-session trade) and the yields computed from them"}]},"financing_curve_unavailable":null,"cefi_rates":{"computed_at":"2026-10-13T14:42:59.883Z","administered":true,"administered_note":"Posted rate cards set by each desk, not market-cleared prices. Only fixed-term custodial desks (computable_ccs) anchor a Gavel tenor; open-ended, on-chain and bilateral rows are landscape context and carry no spread.","scope_note":"Current published cards only. Archived captures, including the defunct desks' last cards, are observations of the past and are not current quotes, so they are not listed here.","stale_after_days":45,"stale_basis":"days since verified_on (the last check against the desk's own page); a card never verified falls back to its effective_date","count":20,"desks":[{"desk":"arch","product":"btc_backed_loan","rate_side":"borrow","collateral_class":"btc","instrument_type":"fixed_term_custodial","computable_ccs":false,"representative_apr":10.49,"apr_low":7.25,"apr_high":null,"max_ltv":0.6,"term_days":365,"custody_model":"custodial_no_rehypo","liquidation_model":"ltv_liquidation","rate_type":"posted_tiered","administered":true,"effective_date":"2026-09-21","age_days":22,"verified_on":"2026-09-21","days_since_verified":22,"stale":false,"source_url":"https://archlending.com","notes":"The page's own \"Loan Overview\": \"Duration up to 12 months\", \"Loan APR 10.49%\", \"Loan-To-Value (LTV) Up to 60%\" — carried as representative. Floor: \"Rates start at 7.25% APR\" / \"Transparent rate tiers, starting from 7.25% APR\"; the tiers themselves are not listed. \"Annual interest rates are subject to change and may vary based on loan type, the principal amount requested, and the borrower's jurisdiction of residence.\" Collateral BTC, ETH, SOL; \"Your collateral is held by Anchorage Digital, a federally chartered bank, in segregated wallets with zero rehypothecation.\" Margin calls to top up; thresholds not stated. The \"as high as 12.75% APR\" on the page describes OTHER lenders, not Arch, and is not used. effective_date is the first read — no earlier card exists."},{"desk":"cantor","product":"institutional_financing","rate_side":"borrow","collateral_class":"btc","instrument_type":"institutional_bilateral","computable_ccs":false,"representative_apr":null,"apr_low":null,"apr_high":null,"max_ltv":null,"term_days":null,"custody_model":"custodial_copper_anchorage","liquidation_model":"bilateral_unpublished","rate_type":"bilateral_unpublished","administered":true,"effective_date":"2026-07-21","age_days":84,"verified_on":null,"days_since_verified":84,"stale":true,"source_url":"https://www.cantor.com","notes":"$2B BTC financing book; bilateral institutional deals (FalconX, Maple as first borrowers), custody via Copper/Anchorage. No posted rate or LTV — recorded as a landscape row to document that the institutional segment has no transparent reference rate. Excluded from CCS compute entirely."},{"desk":"coinbase_morpho","product":"btc_usdc_base","rate_side":"borrow","collateral_class":"btc","instrument_type":"onchain_defi","computable_ccs":false,"representative_apr":null,"apr_low":null,"apr_high":null,"max_ltv":0.75,"term_days":null,"custody_model":"onchain_morpho","liquidation_model":"oracle_ltv_liquidation","rate_type":"variable_onchain","administered":false,"effective_date":"2026-07-21","age_days":84,"verified_on":null,"days_since_verified":84,"stale":true,"source_url":"https://www.coinbase.com/borrow","notes":"BTC->cbBTC on Base, variable per-block Morpho market rate (hence null APR). Oracle-liquidating at 86% LTV with a 4.38% penalty; open-ended; up to $5M. Structurally Aave/Compound with a Coinbase UI — feed the VRB/variable-DeFi path, never CCS. Terms carried from the prior card; the live page returned 403 at verification time and was NOT re-confirmed (no rate is used downstream, so nothing computes off it). 2026-09-11: the page loads and states liquidation at 86% LTV and availability in the US and UK only; the 0.75 max_ltv is NOT stated on it, so verified_on stays null rather than claiming a confirmation the page does not support."},{"desk":"figure","product":"crypto_backed_loan","rate_side":"borrow","collateral_class":"btc","instrument_type":"fixed_term_custodial","computable_ccs":true,"representative_apr":9.999,"apr_low":9.999,"apr_high":12.62,"max_ltv":0.75,"term_days":365,"custody_model":"mpc_custody","liquidation_model":"ltv_liquidation","rate_type":"fixed_posted","administered":true,"effective_date":"2026-10-07","age_days":6,"verified_on":"2026-10-09","days_since_verified":4,"stale":false,"source_url":"https://www.figure.com/crypto-backed-loan/","notes":"One product for BTC, ETH and SOL. The desk's page now carries the 75% tier in its own disclosure footnote (first seen 2026-10-07, re-read 2026-10-09 in raw HTML): \"Maximum APR: 12.62% APR (APR includes interest plus applicable fees such as the 1% origination fee). Available interest rates for Figure's Crypto-Backed Loan are 8.91% (9.999% APR) at 50% LTV or 11.50% (12.62% APR) up to 75%.\" and \"allows for a maximum initial LTV ratio of 75%\". Fixed, 12-month interest-only. representative = the 50% tier, as before. ⚠ The page's embedded FAQ data still says \"9.9% at 50% or below or 12.4% up to 75%\" — older figures, not used. The comparison table also lists other lenders' rates (9.49% / 11.49% APR, 9.00% / 10.49% APR) — those are not Figure's. \"Decentralized, MPC custody\"; a 2% fee on liquidation. Replaces the 2026-09-21 card (50% tier only), which stays as history."},{"desk":"ibkr_lite","product":"margin_loan_usd","rate_side":"borrow","collateral_class":"multi_asset","instrument_type":"open_ended_credit_line","computable_ccs":false,"representative_apr":6.13,"apr_low":6.13,"apr_high":6.13,"max_ltv":null,"term_days":null,"custody_model":"custodial_broker_street_name","liquidation_model":"threshold_maintenance_margin","rate_type":"variable_benchmark_linked","administered":true,"effective_date":"2026-08-08","age_days":66,"verified_on":null,"days_since_verified":66,"stale":true,"source_url":"https://www.interactivebrokers.com/en/trading/margin-rates.php","notes":"IBKR Lite USD margin rate, flat across every tier at 6.130% (BM+2.5%) — the same 100 to 200bp above IBKR Pro at each size. Account-level, secured by the whole marginable portfolio."},{"desk":"ibkr_pro","product":"margin_loan_usd","rate_side":"borrow","collateral_class":"multi_asset","instrument_type":"open_ended_credit_line","computable_ccs":false,"representative_apr":5.13,"apr_low":4.13,"apr_high":5.13,"max_ltv":null,"term_days":null,"custody_model":"custodial_broker_street_name","liquidation_model":"threshold_maintenance_margin","rate_type":"variable_benchmark_linked","administered":true,"effective_date":"2026-08-08","age_days":66,"verified_on":null,"days_since_verified":66,"stale":true,"source_url":"https://www.interactivebrokers.com/en/trading/margin-rates.php","notes":"IBKR Pro USD tiered margin rate, benchmark-linked: 0-100k 5.130% (BM+1.5%), 100k-1m 4.630% (BM+1%), 1m-50m 4.380% (BM+0.75%), above 50m 4.130% (BM+0.5%). representative_apr is the retail-size top tier; apr_low is the largest-balance tier. Rate floats with the benchmark, so this is a snapshot not a fixed term. Account-level, secured by the whole marginable portfolio."},{"desk":"ledn","product":"btc_backed_standard","rate_side":"borrow","collateral_class":"btc","instrument_type":"fixed_term_custodial","computable_ccs":true,"representative_apr":11.49,"apr_low":9.25,"apr_high":11.49,"max_ltv":0.5,"term_days":365,"custody_model":"custodial_no_rehypo","liquidation_model":"ltv_liquidation","rate_type":"fixed_posted","administered":true,"effective_date":"2026-07-21","age_days":84,"verified_on":"2026-09-11","days_since_verified":32,"stale":false,"source_url":"https://www.ledn.io/borrowing","notes":"Tiered by size, five bands on the live page (2026-09-11): 11.49% under $250k (retail = representative), 10.99% $250k+, 10.49% $500k+, 9.99% $1M+, 9.25% $2M+. The page states \"A 2% administration fee is included where applicable\" and that it does not apply to clients in Canada and the United States, so the published APR is carried as published and no fee is added or removed here. 50% max LTV, 12-month term; warn 70/75, liquidate 80."},{"desk":"ledn","product":"usdc_growth_account","rate_side":"lend","collateral_class":"none","instrument_type":"open_ended_deposit","computable_ccs":false,"representative_apr":6.5,"apr_low":6.5,"apr_high":8.5,"max_ltv":null,"term_days":null,"custody_model":"custodial","liquidation_model":"none","rate_type":"variable_posted_tiered","administered":true,"effective_date":"2026-07-21","age_days":84,"verified_on":"2026-09-11","days_since_verified":32,"stale":false,"source_url":"https://www.ledn.io/savings/usdc-growth-accounts","notes":"Posted, determinate, two tiers: 6.5% APY below 100,000 USDC and 8.5% above. representative = 6.5% (retail tier, matching the representative_apr convention used on the borrow side). Interest paid monthly; open-term, no lock-in, no minimum. Not offered in the US or Canada. NOTE: open-term deposit funding a 365d fixed-term loan — the resulting desk spread is a maturity-transformed margin, not a same-tenor bid-ask like Aave's. Consumers must carry tenor_matched=false."},{"desk":"milo","product":"crypto_loan","rate_side":"borrow","collateral_class":"btc","instrument_type":"fixed_term_custodial","computable_ccs":false,"representative_apr":10.75,"apr_low":10.75,"apr_high":null,"max_ltv":0.5,"term_days":365,"custody_model":"custodial_no_rehypo","liquidation_model":"ltv_liquidation","rate_type":"posted_tiered","administered":true,"effective_date":"2026-09-21","age_days":22,"verified_on":"2026-09-21","days_since_verified":22,"stale":false,"source_url":"https://www.milo.io/crypto-loan/","notes":"The page: \"Interest rate As low as 8.75%*\", \"Interest rates 8.75% (10.75% APR)\", \"Interest rates shown exclude a 2% origination fee. APR starts at 10.75%.\" The APR is carried (it includes the fee), and it is A FLOOR (\"starts at\") — a typical borrower may pay more, so this representative is optimistic by construction. Collateral \"Pledge 2x loan amount\" (50% LTV), \"Margin call 67% LTV\", term \"1 year, plus extensions\", \"Starting at $5,000\", Bitcoin & Ethereum, custodians \"Coinbase & BitGo\", no rehypothecation. The page data also carries card labels of 13.950% at 50% LTV and 13.450% at 33% LTV that could not be confirmed as rendered text, so they are not used. Milo's crypto MORTGAGE (\"rates starting at 7%\") is a different product, secured on property as well, and is not this card."},{"desk":"nexo","product":"credit_line","rate_side":"borrow","collateral_class":"btc","instrument_type":"open_ended_credit_line","computable_ccs":false,"representative_apr":17.9,"apr_low":1.9,"apr_high":17.9,"max_ltv":0.5,"term_days":null,"custody_model":"custodial","liquidation_model":"ltv_liquidation","rate_type":"variable_loyalty_tiered","administered":true,"effective_date":"2026-10-09","age_days":4,"verified_on":"2026-10-09","days_since_verified":4,"stale":false,"source_url":"https://nexo.com/borrow/bitcoin","notes":"Open-ended: no fixed dates, no minimum installments — NOT a tenor anchor. The pages (read 2026-10-09): \"interest rates as low as 1.9%\", \"50% LTV\" for BTC, \"Rates are subject to change and may vary by region, loyalty tier, and other applicable factors. Always refer to the Nexo app for your applicable rates.\" The tier schedule is Nexo's own support FAQ (support.nexo.com nexo-loans-faq, read 2026-10-07; the page is script-rendered and could not be re-read on 10-09): Base or portfolio < $5,000 17.9%; Silver 15.9%; Gold 11.9/12.9% by jurisdiction; Platinum 9.9%; Gold/Platinum with Credit Wallet LTV < 20%: 3.9%/1.9%. representative = the Base tier, the rate a borrower holding no NEXO tokens is quoted (apr_high convention), as the ether card. Automatic repayment at 83.33% LTV. Replaces the 2026-07-21 card (13.9 / 18.9, neither ever on a Nexo page), which stays as history."},{"desk":"nexo","product":"flexible_savings","rate_side":"lend","collateral_class":"none","instrument_type":"open_ended_deposit","computable_ccs":false,"representative_apr":null,"apr_low":null,"apr_high":13,"max_ltv":null,"term_days":null,"custody_model":"custodial","liquidation_model":"none","rate_type":"variable_loyalty_tiered","administered":true,"effective_date":"2026-07-21","age_days":84,"verified_on":"2026-09-11","days_since_verified":32,"stale":false,"source_url":"https://nexo.com/earn-crypto","notes":"NO DETERMINATE POSTED RATE. Page advertises \"up to 13% per year\" across 30+ assets and \"up to 4.7% on BTC\", but the applicable rate depends on loyalty tier, balance band and region, and the page states: \"Always refer to the Nexo app for your applicable rates.\" apr_high records the advertised ceiling; representative_apr is null because no rate here is quotable to a named depositor. Nexo's intermediation spread is therefore NOT measurable."},{"desk":"salt","product":"btc_backed","rate_side":"borrow","collateral_class":"btc","instrument_type":"fixed_term_custodial","computable_ccs":true,"representative_apr":8.75,"apr_low":7.49,"apr_high":8.75,"max_ltv":0.5,"term_days":365,"custody_model":"custodial","liquidation_model":"ltv_liquidation","rate_type":"fixed_posted","administered":true,"effective_date":"2026-10-09","age_days":4,"verified_on":"2026-10-09","days_since_verified":4,"stale":false,"source_url":"https://saltlending.com/rates-and-fees/","notes":"The page now publishes the full schedule (read 2026-10-09, raw HTML): \"30% LTV Conservative 7.49% APR [1-Year] 8.24% APR - fixed 3 yrs 8.49% APR - fixed 5 yrs; 50% LTV Standard 8.75% APR 9.50% APR - fixed 3 yrs 9.75% APR - fixed 5 yrs; 70% LTV Max liquidity | SALT Only 10.50% APR Not Offered Not Offered\". Origination 0%. The 70% tier is labelled \"SALT Only\" and the page does not say what that means, so it is not taken as available against bitcoin — the cautious reading: SALT's page said \"Borrow up to 70% LTV\" until at least 2026-09-11, and the label may only restrict the 70% tier to SALT members. max_ltv 0.50 and the 1-year range 7.49–8.75 are the tiers open to any collateral. representative = the 50% LTV 1-year rate (the schedule is published, so no midpoint of a floor). The 1yr anchors 365d. Warn 75, margin call 83.33. Replaces the 2026-07-21 card (10.97 midpoint of 7.49–14.45, 14.45 never on the page), which stays as history."},{"desk":"schwab","product":"margin_loan_usd","rate_side":"borrow","collateral_class":"multi_asset","instrument_type":"open_ended_credit_line","computable_ccs":false,"representative_apr":null,"apr_low":null,"apr_high":null,"max_ltv":0.5,"term_days":null,"custody_model":"custodial_broker_street_name","liquidation_model":"threshold_maintenance_margin","rate_type":"undisclosed_in_source_read","administered":true,"effective_date":"2026-08-08","age_days":66,"verified_on":null,"days_since_verified":66,"stale":true,"source_url":"https://www.schwab.com/margin/margin-rates-and-requirements","notes":"Schwab published combined requirements, \"Long: Common, Non-Leveraged ETFs/ETNs, Preferred & Warrants\" at or above $3.00 per share: Schwab Initial Req. \"50% of cost\", Schwab Maintenance \"25% of market value\". max_ltv 0.50 is the INITIAL requirement inverted; the 25% maintenance implies a 75% call LTV, recorded here in prose because the schema has one LTV field. NO SPOT-BTC ETP IS NAMED ON THE PAGE and Schwab reserves the right to impose higher special requirements for volatility, so applying this to IBIT/FBTC/GBTC would be an inference. The page also carries \"Unit Investment Trust: Not Marginable\" and spot-BTC ETPs are 33-Act commodity trusts rather than 40-Act ETFs, so which row governs them is NOT STATED."},{"desk":"strike","product":"volatility_proof","rate_side":"borrow","collateral_class":"btc","instrument_type":"fixed_term_custodial","computable_ccs":true,"representative_apr":14.2,"apr_low":10.7,"apr_high":14.2,"max_ltv":0.45,"term_days":180,"custody_model":"custodial_rehypo_capital_providers","liquidation_model":"hedged_no_price_liq","rate_type":"fixed_posted_hedged","administered":true,"effective_date":"2026-07-21","age_days":84,"verified_on":"2026-07-21","days_since_verified":84,"stale":true,"source_url":"https://strike.me/en/lending/","notes":"Launched 2026-07-08. 45% max LTV, 6-month term. Range = Strike standard (7.75–11.25%) + a 2.95pp hedge premium. No margin calls or price liquidation — withstands an ~80% BTC drawdown while payments stay current; payment-default only (10-day grace). Collateral re-postable to capital providers. Collateral is locked mid-term."},{"desk":"unchained","product":"commercial_btc_loan","rate_side":"borrow","collateral_class":"btc","instrument_type":"fixed_term_custodial","computable_ccs":true,"representative_apr":14.18,"apr_low":null,"apr_high":null,"max_ltv":0.5,"term_days":365,"custody_model":"collaborative_multisig_no_rehypo","liquidation_model":"ltv_liquidation","rate_type":"fixed_posted","administered":true,"effective_date":"2026-09-13","age_days":30,"verified_on":"2026-09-21","days_since_verified":22,"stale":false,"source_url":"https://www.unchained.com/loans","notes":"COMMERCIAL loans (businesses, family offices, funds), not retail. CORRECTED 2026-09-21 on verification: the page's server-rendered text reads \"Interest Rate 14%\" and APR \"16.21%\", but those are PLACEHOLDERS — the page's own script replaces them on load from its rate table (`interestRates = { 6: { val: 0.12, text: '12%' } ... }`, `aprRate = { 6: '14.18%', 12: '14.18%' }`, `originationFeeRates = { ... text: '2%' }`), so what a reader sees is 12% interest and 14.18% APR, the APR including the 2% origination fee (\"Unchained includes this amount in the total amount borrowed\"). The first card carried the placeholders (16.21%) and was wrong. Independently confirmed: Ledn's rate roundup (\"Source checked: 13 Sep 2026\") reports \"12% interest; 14.18% APR ... includes 2% origination and 12 payments\" — hence effective_date 2026-09-13, the earliest cited observation of these values. The page heads its pricing \"Fixed transparent pricing\". \"Minimum $150,000. All loans are 12-payment terms\", interest-only every 30 days. \"Estimated collateral-to-principal (CTP): 200%\" = 50% LTV. \"Your bitcoin collateral cannot be moved or rehypothecated by Unchained, Fortis Bank, or your company acting alone.\" The page's \"estimates as of 11/10/2025\" line sits with the placeholder block and is not used as a date. Margin-call and liquidation thresholds are not on the page."},{"desk":"xapo","product":"btc_backed_usd_180","rate_side":"borrow","collateral_class":"btc","instrument_type":"fixed_term_custodial","computable_ccs":true,"representative_apr":10.5,"apr_low":10.5,"apr_high":10.5,"max_ltv":0.4,"term_days":180,"custody_model":"custodial_no_rehypo","liquidation_model":"ltv_liquidation","rate_type":"variable_fed_linked","administered":true,"effective_date":"2026-07-21","age_days":84,"verified_on":"2026-09-11","days_since_verified":32,"stale":false,"source_url":"https://www.xapobank.com/en/banking/borrow","notes":"Same posted rate as the 365d product — Xapo prices one variable rate across its 30/90/180/365d terms."},{"desk":"xapo","product":"btc_backed_usd_30","rate_side":"borrow","collateral_class":"btc","instrument_type":"fixed_term_custodial","computable_ccs":true,"representative_apr":10.5,"apr_low":10.5,"apr_high":10.5,"max_ltv":0.4,"term_days":30,"custody_model":"custodial_no_rehypo","liquidation_model":"ltv_liquidation","rate_type":"variable_fed_linked","administered":true,"effective_date":"2026-07-21","age_days":84,"verified_on":"2026-09-11","days_since_verified":32,"stale":false,"source_url":"https://www.xapobank.com/en/banking/borrow","notes":"Same posted rate as every other Xapo term. 30d is the shortest term Xapo offers and is directly visible in the live loan calculator."},{"desk":"xapo","product":"btc_backed_usd_365","rate_side":"borrow","collateral_class":"btc","instrument_type":"fixed_term_custodial","computable_ccs":true,"representative_apr":10.5,"apr_low":10.5,"apr_high":10.5,"max_ltv":0.4,"term_days":365,"custody_model":"custodial_no_rehypo","liquidation_model":"ltv_liquidation","rate_type":"variable_fed_linked","administered":true,"effective_date":"2026-07-21","age_days":84,"verified_on":"2026-09-11","days_since_verified":32,"stale":false,"source_url":"https://www.xapobank.com/en/banking/borrow","notes":"Single posted rate, variable (tracks the base rate), accrues daily. LTV 20–40%; top-up at 65%, liquidate at 80%. Terms 30/90/180/365d. Regulated bank (Gibraltar); ex-UK/AU; ~$1k/yr membership. No arrangement/closure/liquidation fees."},{"desk":"xapo","product":"btc_backed_usd_90","rate_side":"borrow","collateral_class":"btc","instrument_type":"fixed_term_custodial","computable_ccs":true,"representative_apr":10.5,"apr_low":10.5,"apr_high":10.5,"max_ltv":0.4,"term_days":90,"custody_model":"custodial_no_rehypo","liquidation_model":"ltv_liquidation","rate_type":"variable_fed_linked","administered":true,"effective_date":"2026-07-21","age_days":84,"verified_on":"2026-09-11","days_since_verified":32,"stale":false,"source_url":"https://www.xapobank.com/en/banking/borrow","notes":"Same posted rate as every other Xapo term — the desk prices one variable rate across 30/90/180/365d. Term list re-confirmed 2026-07-21."},{"desk":"xapo","product":"usd_savings","rate_side":"lend","collateral_class":"none","instrument_type":"open_ended_deposit","computable_ccs":false,"representative_apr":3.35,"apr_low":3.35,"apr_high":3.35,"max_ltv":null,"term_days":null,"custody_model":"custodial_regulated_bank","liquidation_model":"none","rate_type":"variable_posted","administered":true,"effective_date":"2026-09-11","age_days":32,"verified_on":"2026-09-11","days_since_verified":32,"stale":false,"source_url":"https://www.xapobank.com/en","notes":"POSTED, determinate, variable. The desk's own page (2026-09-11): \"Your dollar balance earns 3.35% annual interest in USD Savings, paid daily in Bitcoin\" and \"Xapo's USD Savings account generates 3.35% variable interest paid daily in BTC.\" The rate is on a USD balance; settlement in BTC does not make it a BTC yield. THE YIELD IS NOT FUNDED BY THE LOAN BOOK, per the same page: \"your earnings come from conservative strategies built primarily around short-term US Treasury Bills. No high-risk lending or speculative trading involved.\" So Xapo's intermediation spread (10.5 - 3.35) is what the desk charges a borrower against what it pays a depositor, which is the module's definition, and NOT a funding-cost margin on the same money. The \"up to 4% APY\" this row carried on 2026-07-21 now belongs to a different product (the BTC Credit Fund, \"a target, not a guarantee\") and is not used."}]},"cefi_rates_unavailable":null,"ltv_history":{"as_of":"2026-10-13","window":{"from":"2025-10-13","to":"2026-10-13"},"window_note":"The first point is where the default 365-day window starts; pass ?from= for more. The Vat series runs from 2020-05-03.","value_note":"value is an OBSERVATION of the book, debt over collateral. threshold is a PARAMETER the venue sets and is never labelled LTV.","x_axis":"calendar","classes":[{"class":"algorithmic","weighting":"sum of debt over sum of collateral across the venues observed that date — never an average of ratios","coverage_note":"Covers only the venues read exactly (isolated markets). Pooled venues carry no realised series, so this is true and narrow; venues and debt are on every point. Their bitcoin-only borrowers are served per venue (bitcoin_only_borrowers), and join the class LTV on the headline.","points":[{"date":"2026-08-05","value":0.563406,"venues":2,"debt_usd":2039533882,"collateral_usd":3620005157},{"date":"2026-08-06","value":0.562885,"venues":2,"debt_usd":2051512511,"collateral_usd":3644637639},{"date":"2026-08-07","value":0.564217,"venues":2,"debt_usd":2052815746,"collateral_usd":3638342691},{"date":"2026-08-08","value":0.559494,"venues":2,"debt_usd":2048044448,"collateral_usd":3660528606},{"date":"2026-08-09","value":0.559222,"venues":2,"debt_usd":2049484508,"collateral_usd":3664885675},{"date":"2026-08-10","value":0.558266,"venues":2,"debt_usd":2052581930,"collateral_usd":3676712054},{"date":"2026-08-11","value":0.567064,"venues":2,"debt_usd":2062572534,"collateral_usd":3637283979},{"date":"2026-08-12","value":0.570101,"venues":2,"debt_usd":2078629343,"collateral_usd":3646074987},{"date":"2026-08-13","value":0.569318,"venues":2,"debt_usd":2056298689,"collateral_usd":3611864072},{"date":"2026-08-14","value":0.571293,"venues":2,"debt_usd":2053176156,"collateral_usd":3593911457},{"date":"2026-08-15","value":0.573862,"venues":2,"debt_usd":2053805720,"collateral_usd":3578918072},{"date":"2026-08-16","value":0.574324,"venues":2,"debt_usd":2048085685,"collateral_usd":3566078543},{"date":"2026-08-17","value":0.571783,"venues":2,"debt_usd":2045653772,"collateral_usd":3577676066},{"date":"2026-08-18","value":0.564692,"venues":2,"debt_usd":2047680088,"collateral_usd":3626188461},{"date":"2026-08-19","value":0.561442,"venues":2,"debt_usd":2066643640,"collateral_usd":3680957214},{"date":"2026-08-20","value":0.524652,"venues":2,"debt_usd":2073937404,"collateral_usd":3952975526},{"date":"2026-08-21","value":0.489515,"venues":2,"debt_usd":2087141803,"collateral_usd":4263697358},{"date":"2026-08-22","value":0.467352,"venues":2,"debt_usd":2100325527,"collateral_usd":4494101663},{"date":"2026-08-23","value":0.476106,"venues":2,"debt_usd":2107861965,"collateral_usd":4427297042},{"date":"2026-08-24","value":0.4767,"venues":2,"debt_usd":2111413628,"collateral_usd":4429229133},{"date":"2026-08-25","value":0.460558,"venues":2,"debt_usd":2133153161,"collateral_usd":4631675566},{"date":"2026-08-26","value":0.471804,"venues":2,"debt_usd":2138846817,"collateral_usd":4533341233},{"date":"2026-08-27","value":0.473884,"venues":2,"debt_usd":2144360698,"collateral_usd":4525077882},{"date":"2026-08-28","value":0.468754,"venues":2,"debt_usd":2150663487,"collateral_usd":4588041027},{"date":"2026-08-29","value":0.48217,"venues":2,"debt_usd":2153269079,"collateral_usd":4465783935},{"date":"2026-08-30","value":0.47939,"venues":2,"debt_usd":2155300083,"collateral_usd":4495920656},{"date":"2026-08-31","value":0.483335,"venues":2,"debt_usd":2162430779,"collateral_usd":4473982317},{"date":"2026-09-01","value":0.478539,"venues":2,"debt_usd":2171134855,"collateral_usd":4537008063},{"date":"2026-09-02","value":0.487378,"venues":2,"debt_usd":2178240578,"collateral_usd":4469307099},{"date":"2026-09-03","value":0.487553,"venues":2,"debt_usd":2190242363,"collateral_usd":4492318923},{"date":"2026-09-04","value":0.469217,"venues":2,"debt_usd":2202451113,"collateral_usd":4693890439},{"date":"2026-09-05","value":0.478269,"venues":2,"debt_usd":2206714634,"collateral_usd":4613961753},{"date":"2026-09-06","value":0.475845,"venues":2,"debt_usd":2209100148,"collateral_usd":4642475685},{"date":"2026-09-07","value":0.477551,"venues":2,"debt_usd":2211696505,"collateral_usd":4631332638},{"date":"2026-09-08","value":0.483372,"venues":2,"debt_usd":2216780876,"collateral_usd":4586073278},{"date":"2026-09-09","value":0.485805,"venues":2,"debt_usd":2214347073,"collateral_usd":4558100733},{"date":"2026-09-10","value":0.488088,"venues":2,"debt_usd":2219561639,"collateral_usd":4547464270},{"date":"2026-09-11","value":0.497724,"venues":2,"debt_usd":2225953501,"collateral_usd":4472264343},{"date":"2026-09-12","value":0.495746,"venues":2,"debt_usd":2246803982,"collateral_usd":4532166398},{"date":"2026-09-13","value":0.496376,"venues":2,"debt_usd":2248005859,"collateral_usd":4528840352},{"date":"2026-09-14","value":0.494616,"venues":2,"debt_usd":2254516321,"collateral_usd":4558112191},{"date":"2026-09-15","value":0.496315,"venues":2,"debt_usd":2278997903,"collateral_usd":4591842224},{"date":"2026-09-16","value":0.509447,"venues":2,"debt_usd":2279284479,"collateral_usd":4474038925},{"date":"2026-09-17","value":0.503992,"venues":2,"debt_usd":2281915515,"collateral_usd":4527680692},{"date":"2026-09-18","value":0.498967,"venues":2,"debt_usd":2291879550,"collateral_usd":4593247083},{"date":"2026-09-19","value":0.475408,"venues":2,"debt_usd":2299713089,"collateral_usd":4837343486},{"date":"2026-09-20","value":0.480989,"venues":2,"debt_usd":2303890580,"collateral_usd":4789903579},{"date":"2026-09-21","value":0.476754,"venues":2,"debt_usd":2310755184,"collateral_usd":4846854153},{"date":"2026-09-22","value":0.464204,"venues":2,"debt_usd":2346958223,"collateral_usd":5055881378},{"date":"2026-09-23","value":0.459409,"venues":2,"debt_usd":2355460685,"collateral_usd":5127150017},{"date":"2026-09-24","value":0.472674,"venues":2,"debt_usd":2362094638,"collateral_usd":4997303398},{"date":"2026-09-25","value":0.472471,"venues":2,"debt_usd":2368893922,"collateral_usd":5013839774},{"date":"2026-09-26","value":0.475229,"venues":2,"debt_usd":2372747256,"collateral_usd":4992852426},{"date":"2026-09-27","value":0.472943,"venues":2,"debt_usd":2375853992,"collateral_usd":5023552381},{"date":"2026-09-28","value":0.478413,"venues":2,"debt_usd":2379101273,"collateral_usd":4972904659},{"date":"2026-09-29","value":0.481753,"venues":2,"debt_usd":2378595144,"collateral_usd":4937372602},{"date":"2026-09-30","value":0.478067,"venues":2,"debt_usd":2382263809,"collateral_usd":4983120747},{"date":"2026-10-01","value":0.477463,"venues":2,"debt_usd":2389342596,"collateral_usd":5004244622},{"date":"2026-10-02","value":0.471103,"venues":2,"debt_usd":2407425322,"collateral_usd":5110186661},{"date":"2026-10-03","value":0.478572,"venues":2,"debt_usd":2428253055,"collateral_usd":5073954980},{"date":"2026-10-04","value":0.475087,"venues":2,"debt_usd":2418128681,"collateral_usd":5089866601},{"date":"2026-10-05","value":0.467231,"venues":2,"debt_usd":2422746682,"collateral_usd":5185331722},{"date":"2026-10-06","value":0.47247,"venues":2,"debt_usd":2431081102,"collateral_usd":5145476027},{"date":"2026-10-07","value":0.483607,"venues":2,"debt_usd":2449733545,"collateral_usd":5065547417},{"date":"2026-10-08","value":0.489983,"venues":2,"debt_usd":2456296209,"collateral_usd":5013018568},{"date":"2026-10-09","value":0.495231,"venues":2,"debt_usd":2459766257,"collateral_usd":4966908863},{"date":"2026-10-10","value":0.491745,"venues":2,"debt_usd":2466835374,"collateral_usd":5016495923},{"date":"2026-10-11","value":0.49086,"venues":2,"debt_usd":2472883436,"collateral_usd":5037855346},{"date":"2026-10-12","value":0.487543,"venues":2,"debt_usd":2482564213,"collateral_usd":5091995048},{"date":"2026-10-13","value":0.491507,"venues":2,"debt_usd":2487746852,"collateral_usd":5061468257}]},{"class":"minted","weighting":"sum of debt over sum of collateral across the venues observed that date — never an average of ratios","coverage_note":null,"points":[{"date":"2025-10-13","value":0.160839,"venues":1,"debt_usd":4140343,"collateral_usd":25742146},{"date":"2025-10-14","value":0.164642,"venues":1,"debt_usd":4138655,"collateral_usd":25137284},{"date":"2025-10-15","value":0.168229,"venues":1,"debt_usd":4138655,"collateral_usd":24601367},{"date":"2025-10-16","value":0.172486,"venues":1,"debt_usd":4138655,"collateral_usd":23994108},{"date":"2025-10-17","value":0.174787,"venues":1,"debt_usd":4138655,"collateral_usd":23678305},{"date":"2025-10-18","value":0.174136,"venues":1,"debt_usd":4138655,"collateral_usd":23766831},{"date":"2025-10-19","value":0.171441,"venues":1,"debt_usd":4138655,"collateral_usd":24140448},{"date":"2025-10-20","value":0.168389,"venues":1,"debt_usd":4138655,"collateral_usd":24577981},{"date":"2025-10-21","value":0.171249,"venues":1,"debt_usd":4138655,"collateral_usd":24167485},{"date":"2025-10-22","value":0.173305,"venues":1,"debt_usd":4138655,"collateral_usd":23880792},{"date":"2025-10-23","value":0.16952,"venues":1,"debt_usd":4138655,"collateral_usd":24414010},{"date":"2025-10-24","value":0.168194,"venues":1,"debt_usd":4138655,"collateral_usd":24606406},{"date":"2025-10-25","value":0.167127,"venues":1,"debt_usd":4138655,"collateral_usd":24763498},{"date":"2025-10-26","value":0.162748,"venues":1,"debt_usd":4138655,"collateral_usd":25429824},{"date":"2025-10-27","value":0.166438,"venues":1,"debt_usd":4215372,"collateral_usd":25326918},{"date":"2025-10-28","value":0.168192,"venues":1,"debt_usd":4215372,"collateral_usd":25062880},{"date":"2025-10-29","value":0.172024,"venues":1,"debt_usd":4215372,"collateral_usd":24504553},{"date":"2025-10-30","value":0.176055,"venues":1,"debt_usd":4215372,"collateral_usd":23943556},{"date":"2025-10-31","value":0.17338,"venues":1,"debt_usd":4215372,"collateral_usd":24312848},{"date":"2025-11-01","value":0.17271,"venues":1,"debt_usd":4215372,"collateral_usd":24407236},{"date":"2025-11-02","value":0.172026,"venues":1,"debt_usd":4215372,"collateral_usd":24504244},{"date":"2025-11-03","value":0.178494,"venues":1,"debt_usd":4215372,"collateral_usd":23616361},{"date":"2025-11-04","value":0.187574,"venues":1,"debt_usd":4215372,"collateral_usd":22473148},{"date":"2025-11-05","value":0.182906,"venues":1,"debt_usd":4215372,"collateral_usd":23046677},{"date":"2025-11-06","value":0.187741,"venues":1,"debt_usd":4215372,"collateral_usd":22453166},{"date":"2025-11-07","value":0.183868,"venues":1,"debt_usd":4215372,"collateral_usd":22926126},{"date":"2025-11-08","value":0.185956,"venues":1,"debt_usd":4215372,"collateral_usd":22668699},{"date":"2025-11-09","value":0.181619,"venues":1,"debt_usd":4215372,"collateral_usd":23210029},{"date":"2025-11-10","value":0.179394,"venues":1,"debt_usd":4215372,"collateral_usd":23497872},{"date":"2025-11-11","value":0.18481,"venues":1,"debt_usd":4215372,"collateral_usd":22809214},{"date":"2025-11-12","value":0.187047,"venues":1,"debt_usd":4215372,"collateral_usd":22536477},{"date":"2025-11-13","value":0.191268,"venues":1,"debt_usd":4191800,"collateral_usd":21915872},{"date":"2025-11-14","value":0.202358,"venues":1,"debt_usd":4191800,"collateral_usd":20714738},{"date":"2025-11-15","value":0.197731,"venues":1,"debt_usd":4119077,"collateral_usd":20831747},{"date":"2025-11-16","value":0.200575,"venues":1,"debt_usd":4119077,"collateral_usd":20536383},{"date":"2025-11-17","value":0.205532,"venues":1,"debt_usd":4119077,"collateral_usd":20041015},{"date":"2025-11-18","value":0.203629,"venues":1,"debt_usd":4119077,"collateral_usd":20228296},{"date":"2025-11-19","value":0.207194,"venues":1,"debt_usd":4119077,"collateral_usd":19880297},{"date":"2025-11-20","value":0.217321,"venues":1,"debt_usd":4119077,"collateral_usd":18953913},{"date":"2025-11-21","value":0.222302,"venues":1,"debt_usd":4119077,"collateral_usd":18529181},{"date":"2025-11-22","value":0.222633,"venues":1,"debt_usd":4119077,"collateral_usd":18501625},{"date":"2025-11-23","value":0.217254,"venues":1,"debt_usd":4119077,"collateral_usd":18959728},{"date":"2025-11-24","value":0.213273,"venues":1,"debt_usd":4119077,"collateral_usd":19313663},{"date":"2025-11-25","value":0.215842,"venues":1,"debt_usd":4119077,"collateral_usd":19083758},{"date":"2025-11-26","value":0.209226,"venues":1,"debt_usd":4119077,"collateral_usd":19687232},{"date":"2025-11-27","value":0.206953,"venues":1,"debt_usd":4119077,"collateral_usd":19903395},{"date":"2025-11-28","value":0.207715,"venues":1,"debt_usd":4119077,"collateral_usd":19830458},{"date":"2025-11-29","value":0.208076,"venues":1,"debt_usd":4119077,"collateral_usd":19796068},{"date":"2025-11-30","value":0.20866,"venues":1,"debt_usd":4119077,"collateral_usd":19740598},{"date":"2025-12-01","value":0.218305,"venues":1,"debt_usd":4119077,"collateral_usd":18868475},{"date":"2025-12-02","value":0.207628,"venues":1,"debt_usd":4107543,"collateral_usd":19783152},{"date":"2025-12-03","value":0.202801,"venues":1,"debt_usd":4107543,"collateral_usd":20254052},{"date":"2025-12-04","value":0.207443,"venues":1,"debt_usd":3984903,"collateral_usd":19209635},{"date":"2025-12-05","value":0.214654,"venues":1,"debt_usd":3984903,"collateral_usd":18564315},{"date":"2025-12-06","value":0.214603,"venues":1,"debt_usd":3984903,"collateral_usd":18568757},{"date":"2025-12-07","value":0.212808,"venues":1,"debt_usd":3984903,"collateral_usd":18725378},{"date":"2025-12-08","value":0.211348,"venues":1,"debt_usd":3984903,"collateral_usd":18854708},{"date":"2025-12-09","value":0.205424,"venues":1,"debt_usd":3937402,"collateral_usd":19167200},{"date":"2025-12-10","value":0.206607,"venues":1,"debt_usd":3937402,"collateral_usd":19057413},{"date":"2025-12-11","value":0.165069,"venues":1,"debt_usd":2310881,"collateral_usd":13999455},{"date":"2025-12-12","value":0.168977,"venues":1,"debt_usd":2310881,"collateral_usd":13675748},{"date":"2025-12-13","value":0.16916,"venues":1,"debt_usd":2310881,"collateral_usd":13660902},{"date":"2025-12-14","value":0.173109,"venues":1,"debt_usd":2310881,"collateral_usd":13349246},{"date":"2025-12-15","value":0.177577,"venues":1,"debt_usd":2291692,"collateral_usd":12905324},{"date":"2025-12-16","value":0.174782,"venues":1,"debt_usd":2291692,"collateral_usd":13111707},{"date":"2025-12-17","value":0.178148,"venues":1,"debt_usd":2291692,"collateral_usd":12863999},{"date":"2025-12-18","value":0.179507,"venues":1,"debt_usd":2291692,"collateral_usd":12766566},{"date":"2025-12-19","value":0.174178,"venues":1,"debt_usd":2291692,"collateral_usd":13157203},{"date":"2025-12-20","value":0.173904,"venues":1,"debt_usd":2291692,"collateral_usd":13177923},{"date":"2025-12-21","value":0.173229,"venues":1,"debt_usd":2291692,"collateral_usd":13229249},{"date":"2025-12-22","value":0.173314,"venues":1,"debt_usd":2291692,"collateral_usd":13222777},{"date":"2025-12-23","value":0.175438,"venues":1,"debt_usd":2291692,"collateral_usd":13062718},{"date":"2025-12-24","value":0.17492,"venues":1,"debt_usd":2291692,"collateral_usd":13101388},{"date":"2025-12-25","value":0.175641,"venues":1,"debt_usd":2291692,"collateral_usd":13047557},{"date":"2025-12-26","value":0.175342,"venues":1,"debt_usd":2291692,"collateral_usd":13069866},{"date":"2025-12-27","value":0.174811,"venues":1,"debt_usd":2291692,"collateral_usd":13109538},{"date":"2025-12-28","value":0.17479,"venues":1,"debt_usd":2291692,"collateral_usd":13111080},{"date":"2025-12-29","value":0.175866,"venues":1,"debt_usd":2291692,"collateral_usd":13030874},{"date":"2025-12-30","value":0.173749,"venues":1,"debt_usd":2291692,"collateral_usd":13189694},{"date":"2025-12-31","value":0.175259,"venues":1,"debt_usd":2291692,"collateral_usd":13075999},{"date":"2026-01-01","value":0.173157,"venues":1,"debt_usd":2291692,"collateral_usd":13234737},{"date":"2026-01-02","value":0.170156,"venues":1,"debt_usd":2291692,"collateral_usd":13468217},{"date":"2026-01-03","value":0.169214,"venues":1,"debt_usd":2291692,"collateral_usd":13543122},{"date":"2026-01-04","value":0.167798,"venues":1,"debt_usd":2291692,"collateral_usd":13657407},{"date":"2026-01-05","value":0.162948,"venues":1,"debt_usd":2291692,"collateral_usd":14063973},{"date":"2026-01-06","value":0.163937,"venues":1,"debt_usd":2291692,"collateral_usd":13979096},{"date":"2026-01-07","value":0.168241,"venues":1,"debt_usd":2291692,"collateral_usd":13621483},{"date":"2026-01-08","value":0.168461,"venues":1,"debt_usd":2291692,"collateral_usd":13603698},{"date":"2026-01-09","value":0.169505,"venues":1,"debt_usd":2291692,"collateral_usd":13519919},{"date":"2026-01-10","value":0.169566,"venues":1,"debt_usd":2291692,"collateral_usd":13515080},{"date":"2026-01-11","value":0.169088,"venues":1,"debt_usd":2291692,"collateral_usd":13553214},{"date":"2026-01-12","value":0.168344,"venues":1,"debt_usd":2291692,"collateral_usd":13613128},{"date":"2026-01-13","value":0.160871,"venues":1,"debt_usd":2291692,"collateral_usd":14245555},{"date":"2026-01-14","value":0.158125,"venues":1,"debt_usd":2291692,"collateral_usd":14492876},{"date":"2026-01-15","value":0.16068,"venues":1,"debt_usd":2291692,"collateral_usd":14262416},{"date":"2026-01-16","value":0.160893,"venues":1,"debt_usd":2291692,"collateral_usd":14243534},{"date":"2026-01-17","value":0.161274,"venues":1,"debt_usd":2291692,"collateral_usd":14209915},{"date":"2026-01-18","value":0.16268,"venues":1,"debt_usd":2291692,"collateral_usd":14087106},{"date":"2026-01-19","value":0.165897,"venues":1,"debt_usd":2291692,"collateral_usd":13813923},{"date":"2026-01-20","value":0.173921,"venues":1,"debt_usd":2291692,"collateral_usd":13176664},{"date":"2026-01-21","value":0.170974,"venues":1,"debt_usd":2291692,"collateral_usd":13403784},{"date":"2026-01-22","value":0.171718,"venues":1,"debt_usd":2291692,"collateral_usd":13345676},{"date":"2026-01-23","value":0.17151,"venues":1,"debt_usd":2291692,"collateral_usd":13361891},{"date":"2026-01-24","value":0.171774,"venues":1,"debt_usd":2291692,"collateral_usd":13341293},{"date":"2026-01-25","value":0.177601,"venues":1,"debt_usd":2291692,"collateral_usd":12903609},{"date":"2026-01-26","value":0.173756,"venues":1,"debt_usd":2291692,"collateral_usd":13189168},{"date":"2026-01-27","value":0.171869,"venues":1,"debt_usd":2291692,"collateral_usd":13333959},{"date":"2026-01-28","value":0.172026,"venues":1,"debt_usd":2291692,"collateral_usd":13321810},{"date":"2026-01-29","value":0.181536,"venues":1,"debt_usd":2291692,"collateral_usd":12623880},{"date":"2026-01-30","value":0.182498,"venues":1,"debt_usd":2291692,"collateral_usd":12557382},{"date":"2026-01-31","value":0.195179,"venues":1,"debt_usd":2291692,"collateral_usd":11741517},{"date":"2026-02-01","value":0.199594,"venues":1,"debt_usd":2291692,"collateral_usd":11481769},{"date":"2026-02-02","value":0.195137,"venues":1,"debt_usd":2291692,"collateral_usd":11743995},{"date":"2026-02-03","value":0.202919,"venues":1,"debt_usd":2291692,"collateral_usd":11293628},{"date":"2026-02-04","value":0.209886,"venues":1,"debt_usd":2291692,"collateral_usd":10918745},{"date":"2026-02-05","value":0.237323,"venues":1,"debt_usd":2242342,"collateral_usd":9448480},{"date":"2026-02-06","value":0.211644,"venues":1,"debt_usd":2234530,"collateral_usd":10557959},{"date":"2026-02-07","value":0.216859,"venues":1,"debt_usd":2234530,"collateral_usd":10304067},{"date":"2026-02-08","value":0.212817,"venues":1,"debt_usd":2234530,"collateral_usd":10499764},{"date":"2026-02-09","value":0.213661,"venues":1,"debt_usd":2229506,"collateral_usd":10434782},{"date":"2026-02-10","value":0.219027,"venues":1,"debt_usd":2219699,"collateral_usd":10134373},{"date":"2026-02-11","value":0.224216,"venues":1,"debt_usd":2217253,"collateral_usd":9888922},{"date":"2026-02-12","value":0.22753,"venues":1,"debt_usd":2209752,"collateral_usd":9711912},{"date":"2026-02-13","value":0.218881,"venues":1,"debt_usd":2209752,"collateral_usd":10095684},{"date":"2026-02-14","value":0.215869,"venues":1,"debt_usd":2209752,"collateral_usd":10236565},{"date":"2026-02-15","value":0.219806,"venues":1,"debt_usd":2209752,"collateral_usd":10053190},{"date":"2026-02-16","value":0.219324,"venues":1,"debt_usd":2209752,"collateral_usd":10075287},{"date":"2026-02-17","value":0.223068,"venues":1,"debt_usd":2209752,"collateral_usd":9906175},{"date":"2026-02-18","value":0.229816,"venues":1,"debt_usd":2165892,"collateral_usd":9424478},{"date":"2026-02-19","value":0.228038,"venues":1,"debt_usd":2165892,"collateral_usd":9497959},{"date":"2026-02-20","value":0.225558,"venues":1,"debt_usd":2165892,"collateral_usd":9602357},{"date":"2026-02-21","value":0.225121,"venues":1,"debt_usd":2165892,"collateral_usd":9621007},{"date":"2026-02-22","value":0.226832,"venues":1,"debt_usd":2165892,"collateral_usd":9548444},{"date":"2026-02-23","value":0.236956,"venues":1,"debt_usd":2165892,"collateral_usd":9140490},{"date":"2026-02-24","value":0.239027,"venues":1,"debt_usd":2165892,"collateral_usd":9061301},{"date":"2026-02-25","value":0.224633,"venues":1,"debt_usd":2165892,"collateral_usd":9641916},{"date":"2026-02-26","value":0.224853,"venues":1,"debt_usd":2130391,"collateral_usd":9474592},{"date":"2026-02-27","value":0.230507,"venues":1,"debt_usd":2130391,"collateral_usd":9242198},{"date":"2026-02-28","value":0.226644,"venues":1,"debt_usd":2130391,"collateral_usd":9399736},{"date":"2026-03-01","value":0.230906,"venues":1,"debt_usd":2130391,"collateral_usd":9226214},{"date":"2026-03-02","value":0.21989,"venues":1,"debt_usd":2120283,"collateral_usd":9642479},{"date":"2026-03-03","value":0.221347,"venues":1,"debt_usd":2120283,"collateral_usd":9579010},{"date":"2026-03-04","value":0.207742,"venues":1,"debt_usd":2098075,"collateral_usd":10099420},{"date":"2026-03-05","value":0.212271,"venues":1,"debt_usd":2098075,"collateral_usd":9883948},{"date":"2026-03-06","value":0.221237,"venues":1,"debt_usd":2098075,"collateral_usd":9483388},{"date":"2026-03-07","value":0.224218,"venues":1,"debt_usd":2098075,"collateral_usd":9357281},{"date":"2026-03-08","value":0.227816,"venues":1,"debt_usd":2098075,"collateral_usd":9209500},{"date":"2026-03-09","value":0.219833,"venues":1,"debt_usd":2098075,"collateral_usd":9543941},{"date":"2026-03-10","value":0.216004,"venues":1,"debt_usd":2098075,"collateral_usd":9713149},{"date":"2026-03-11","value":0.214656,"venues":1,"debt_usd":2098075,"collateral_usd":9774117},{"date":"2026-03-12","value":0.214019,"venues":1,"debt_usd":2098075,"collateral_usd":9803225},{"date":"2026-03-13","value":0.212985,"venues":1,"debt_usd":2098075,"collateral_usd":9850808},{"date":"2026-03-14","value":0.212293,"venues":1,"debt_usd":2098075,"collateral_usd":9882929},{"date":"2026-03-15","value":0.20757,"venues":1,"debt_usd":2098075,"collateral_usd":10107795},{"date":"2026-03-16","value":0.201888,"venues":1,"debt_usd":2098075,"collateral_usd":10392285},{"date":"2026-03-17","value":0.203364,"venues":1,"debt_usd":2098075,"collateral_usd":10316830},{"date":"2026-03-18","value":0.211609,"venues":1,"debt_usd":2098075,"collateral_usd":9914859},{"date":"2026-03-19","value":0.215191,"venues":1,"debt_usd":2098075,"collateral_usd":9749839},{"date":"2026-03-20","value":0.213512,"venues":1,"debt_usd":2098075,"collateral_usd":9826492},{"date":"2026-03-21","value":0.215845,"venues":1,"debt_usd":2098075,"collateral_usd":9720272},{"date":"2026-03-22","value":0.221306,"venues":1,"debt_usd":2098075,"collateral_usd":9480416},{"date":"2026-03-23","value":0.213267,"venues":1,"debt_usd":2098075,"collateral_usd":9837779},{"date":"2026-03-24","value":0.213748,"venues":1,"debt_usd":2098075,"collateral_usd":9815658},{"date":"2026-03-25","value":0.222302,"venues":1,"debt_usd":2204218,"collateral_usd":9915423},{"date":"2026-03-26","value":0.230256,"venues":1,"debt_usd":2204218,"collateral_usd":9572892},{"date":"2026-03-27","value":0.23946,"venues":1,"debt_usd":2204218,"collateral_usd":9204942},{"date":"2026-03-28","value":0.238185,"venues":1,"debt_usd":2204218,"collateral_usd":9254215},{"date":"2026-03-29","value":0.239718,"venues":1,"debt_usd":2204218,"collateral_usd":9195040},{"date":"2026-03-30","value":0.237691,"venues":1,"debt_usd":2204218,"collateral_usd":9273451},{"date":"2026-03-31","value":0.232188,"venues":1,"debt_usd":2204218,"collateral_usd":9493249},{"date":"2026-04-01","value":0.232281,"venues":1,"debt_usd":2204218,"collateral_usd":9489426},{"date":"2026-04-02","value":0.236733,"venues":1,"debt_usd":2204218,"collateral_usd":9310979},{"date":"2026-04-03","value":0.236848,"venues":1,"debt_usd":2204218,"collateral_usd":9306481},{"date":"2026-04-04","value":0.235364,"venues":1,"debt_usd":2204218,"collateral_usd":9365164},{"date":"2026-04-05","value":0.23003,"venues":1,"debt_usd":2204218,"collateral_usd":9582320},{"date":"2026-04-06","value":0.230425,"venues":1,"debt_usd":2204218,"collateral_usd":9565872},{"date":"2026-04-07","value":0.220069,"venues":1,"debt_usd":2204218,"collateral_usd":10016038},{"date":"2026-04-08","value":0.223066,"venues":1,"debt_usd":2204218,"collateral_usd":9881472},{"date":"2026-04-09","value":0.220616,"venues":1,"debt_usd":2204218,"collateral_usd":9991178},{"date":"2026-04-10","value":0.217233,"venues":1,"debt_usd":2204218,"collateral_usd":10146810},{"date":"2026-04-11","value":0.216559,"venues":1,"debt_usd":2204218,"collateral_usd":10178351},{"date":"2026-04-12","value":0.223865,"venues":1,"debt_usd":2204218,"collateral_usd":9846172},{"date":"2026-04-13","value":0.212298,"venues":1,"debt_usd":2204218,"collateral_usd":10382648},{"date":"2026-04-14","value":0.213575,"venues":1,"debt_usd":2204218,"collateral_usd":10320601},{"date":"2026-04-15","value":0.211699,"venues":1,"debt_usd":2204218,"collateral_usd":10412035},{"date":"2026-04-16","value":0.211058,"venues":1,"debt_usd":2204218,"collateral_usd":10443671},{"date":"2026-04-17","value":0.205239,"venues":1,"debt_usd":2204218,"collateral_usd":10739758},{"date":"2026-04-18","value":0.209186,"venues":1,"debt_usd":2204218,"collateral_usd":10537105},{"date":"2026-04-19","value":0.214196,"venues":1,"debt_usd":2204218,"collateral_usd":10290677},{"date":"2026-04-20","value":0.209037,"venues":1,"debt_usd":2204218,"collateral_usd":10544649},{"date":"2026-04-21","value":0.208665,"venues":1,"debt_usd":2204218,"collateral_usd":10563423},{"date":"2026-04-22","value":0.202102,"venues":1,"debt_usd":2204218,"collateral_usd":10906469},{"date":"2026-04-23","value":0.202895,"venues":1,"debt_usd":2204218,"collateral_usd":10863856},{"date":"2026-04-24","value":0.204541,"venues":1,"debt_usd":2204218,"collateral_usd":10776425},{"date":"2026-04-25","value":0.204322,"venues":1,"debt_usd":2204218,"collateral_usd":10787941},{"date":"2026-04-26","value":0.201838,"venues":1,"debt_usd":2204218,"collateral_usd":10920710},{"date":"2026-04-27","value":0.205364,"venues":1,"debt_usd":2204218,"collateral_usd":10733209},{"date":"2026-04-28","value":0.207818,"venues":1,"debt_usd":2204218,"collateral_usd":10606499},{"date":"2026-04-29","value":0.20911,"venues":1,"debt_usd":2204218,"collateral_usd":10540960},{"date":"2026-04-30","value":0.207789,"venues":1,"debt_usd":2204218,"collateral_usd":10607958},{"date":"2026-05-01","value":0.203032,"venues":1,"debt_usd":2204218,"collateral_usd":10856517},{"date":"2026-05-02","value":0.201227,"venues":1,"debt_usd":2204218,"collateral_usd":10953900},{"date":"2026-05-03","value":0.200915,"venues":1,"debt_usd":2204218,"collateral_usd":10970896},{"date":"2026-05-04","value":0.19824,"venues":1,"debt_usd":2204218,"collateral_usd":11118931},{"date":"2026-05-05","value":0.195675,"venues":1,"debt_usd":2204218,"collateral_usd":11264661},{"date":"2026-05-06","value":0.194981,"venues":1,"debt_usd":2204218,"collateral_usd":11304782},{"date":"2026-05-07","value":0.19836,"venues":1,"debt_usd":2204218,"collateral_usd":11112207},{"date":"2026-05-08","value":0.197846,"venues":1,"debt_usd":2204218,"collateral_usd":11141055},{"date":"2026-05-09","value":0.196198,"venues":1,"debt_usd":2204218,"collateral_usd":11234640},{"date":"2026-05-10","value":0.192871,"venues":1,"debt_usd":2204218,"collateral_usd":11428478},{"date":"2026-05-11","value":0.193773,"venues":1,"debt_usd":2204218,"collateral_usd":11375252},{"date":"2026-05-12","value":0.196717,"venues":1,"debt_usd":2204218,"collateral_usd":11205012},{"date":"2026-05-13","value":0.199665,"venues":1,"debt_usd":2204218,"collateral_usd":11039558},{"date":"2026-05-14","value":0.195384,"venues":1,"debt_usd":2204218,"collateral_usd":11281441},{"date":"2026-05-15","value":0.200389,"venues":1,"debt_usd":2204218,"collateral_usd":10999669},{"date":"2026-05-16","value":0.202885,"venues":1,"debt_usd":2204218,"collateral_usd":10864397},{"date":"2026-05-17","value":0.204431,"venues":1,"debt_usd":2204218,"collateral_usd":10782188},{"date":"2026-05-18","value":0.206064,"venues":1,"debt_usd":2204218,"collateral_usd":10696756},{"date":"2026-05-19","value":0.206585,"venues":1,"debt_usd":2204218,"collateral_usd":10669785},{"date":"2026-05-20","value":0.204884,"venues":1,"debt_usd":2204218,"collateral_usd":10758365},{"date":"2026-05-21","value":0.204538,"venues":1,"debt_usd":2204218,"collateral_usd":10776591},{"date":"2026-05-22","value":0.209476,"venues":1,"debt_usd":2204218,"collateral_usd":10522537},{"date":"2026-05-23","value":0.207072,"venues":1,"debt_usd":2204218,"collateral_usd":10644706},{"date":"2026-05-24","value":0.206089,"venues":1,"debt_usd":2204218,"collateral_usd":10695463},{"date":"2026-05-25","value":0.205345,"venues":1,"debt_usd":2204218,"collateral_usd":10734236},{"date":"2026-05-26","value":0.213345,"venues":1,"debt_usd":2250563,"collateral_usd":10548959},{"date":"2026-05-27","value":0.217784,"venues":1,"debt_usd":2250563,"collateral_usd":10333926},{"date":"2026-05-28","value":0.219918,"venues":1,"debt_usd":2250563,"collateral_usd":10233655},{"date":"2026-05-29","value":0.220405,"venues":1,"debt_usd":2250563,"collateral_usd":10211020},{"date":"2026-05-30","value":0.219249,"venues":1,"debt_usd":2250563,"collateral_usd":10264855},{"date":"2026-05-31","value":0.219485,"venues":1,"debt_usd":2250563,"collateral_usd":10253855},{"date":"2026-06-01","value":0.226758,"venues":1,"debt_usd":2250563,"collateral_usd":9924969},{"date":"2026-06-02","value":0.242339,"venues":1,"debt_usd":2244413,"collateral_usd":9261472},{"date":"2026-06-03","value":0.250523,"venues":1,"debt_usd":2244413,"collateral_usd":8958925},{"date":"2026-06-04","value":0.253574,"venues":1,"debt_usd":2244413,"collateral_usd":8851128},{"date":"2026-06-05","value":0.25541,"venues":1,"debt_usd":2159681,"collateral_usd":8455726},{"date":"2026-06-06","value":0.256876,"venues":1,"debt_usd":2162958,"collateral_usd":8420233},{"date":"2026-06-07","value":0.246936,"venues":1,"debt_usd":2163076,"collateral_usd":8759656},{"date":"2026-06-08","value":0.246738,"venues":1,"debt_usd":2163076,"collateral_usd":8766706},{"date":"2026-06-09","value":0.25251,"venues":1,"debt_usd":2163076,"collateral_usd":8566300},{"date":"2026-06-10","value":0.253747,"venues":1,"debt_usd":2163076,"collateral_usd":8524542},{"date":"2026-06-11","value":0.245739,"venues":1,"debt_usd":2163076,"collateral_usd":8802340},{"date":"2026-06-12","value":0.24557,"venues":1,"debt_usd":2163076,"collateral_usd":8808391},{"date":"2026-06-13","value":0.241935,"venues":1,"debt_usd":2163076,"collateral_usd":8940742},{"date":"2026-06-14","value":0.237944,"venues":1,"debt_usd":2163076,"collateral_usd":9090711},{"date":"2026-06-15","value":0.231532,"venues":1,"debt_usd":2099303,"collateral_usd":9067027},{"date":"2026-06-16","value":0.233566,"venues":1,"debt_usd":2099303,"collateral_usd":8988063},{"date":"2026-06-17","value":0.238378,"venues":1,"debt_usd":2099303,"collateral_usd":8806623},{"date":"2026-06-18","value":0.244028,"venues":1,"debt_usd":2099303,"collateral_usd":8602703},{"date":"2026-06-19","value":0.242386,"venues":1,"debt_usd":2099303,"collateral_usd":8660979},{"date":"2026-06-20","value":0.239112,"venues":1,"debt_usd":2099303,"collateral_usd":8779593},{"date":"2026-06-21","value":0.241555,"venues":1,"debt_usd":2099303,"collateral_usd":8690796},{"date":"2026-06-22","value":0.239976,"venues":1,"debt_usd":2099303,"collateral_usd":8747981},{"date":"2026-06-23","value":0.245113,"venues":1,"debt_usd":2099303,"collateral_usd":8564627},{"date":"2026-06-24","value":0.260681,"venues":1,"debt_usd":2099303,"collateral_usd":8053137},{"date":"2026-06-25","value":0.265284,"venues":1,"debt_usd":2099303,"collateral_usd":7913422},{"date":"2026-06-26","value":0.26536,"venues":1,"debt_usd":2099303,"collateral_usd":7911157},{"date":"2026-06-27","value":0.264737,"venues":1,"debt_usd":2099303,"collateral_usd":7929765},{"date":"2026-06-28","value":0.267332,"venues":1,"debt_usd":2099303,"collateral_usd":7852790},{"date":"2026-06-29","value":0.263808,"venues":1,"debt_usd":2099303,"collateral_usd":7957693},{"date":"2026-06-30","value":0.271258,"venues":1,"debt_usd":2099303,"collateral_usd":7739142},{"date":"2026-07-01","value":0.264213,"venues":1,"debt_usd":2099303,"collateral_usd":7945490},{"date":"2026-07-02","value":0.258552,"venues":1,"debt_usd":2099303,"collateral_usd":8119457},{"date":"2026-07-03","value":0.253792,"venues":1,"debt_usd":2099303,"collateral_usd":8271730},{"date":"2026-07-04","value":0.251654,"venues":1,"debt_usd":2099303,"collateral_usd":8342008},{"date":"2026-07-05","value":0.249437,"venues":1,"debt_usd":2099303,"collateral_usd":8416152},{"date":"2026-07-06","value":0.247622,"venues":1,"debt_usd":2099303,"collateral_usd":8477845},{"date":"2026-07-07","value":0.250227,"venues":1,"debt_usd":2099303,"collateral_usd":8389607},{"date":"2026-07-08","value":0.255147,"venues":1,"debt_usd":2099303,"collateral_usd":8227812},{"date":"2026-07-09","value":0.251265,"venues":1,"debt_usd":2099303,"collateral_usd":8354941},{"date":"2026-07-10","value":0.248223,"venues":1,"debt_usd":2099303,"collateral_usd":8457333},{"date":"2026-07-11","value":0.248371,"venues":1,"debt_usd":2099303,"collateral_usd":8452299},{"date":"2026-07-12","value":0.248996,"venues":1,"debt_usd":2099303,"collateral_usd":8431083},{"date":"2026-07-13","value":0.255677,"venues":1,"debt_usd":2099303,"collateral_usd":8210764},{"date":"2026-07-14","value":0.24461,"venues":1,"debt_usd":2099303,"collateral_usd":8582228},{"date":"2026-07-15","value":0.244931,"venues":1,"debt_usd":2099303,"collateral_usd":8570992},{"date":"2026-07-16","value":0.248514,"venues":1,"debt_usd":2099303,"collateral_usd":8447430},{"date":"2026-07-17","value":0.248218,"venues":1,"debt_usd":2099303,"collateral_usd":8457482},{"date":"2026-07-18","value":0.245202,"venues":1,"debt_usd":2099303,"collateral_usd":8561527},{"date":"2026-07-19","value":0.245785,"venues":1,"debt_usd":2099303,"collateral_usd":8541203},{"date":"2026-07-20","value":0.243906,"venues":1,"debt_usd":2099303,"collateral_usd":8607010},{"date":"2026-07-21","value":0.239492,"venues":1,"debt_usd":2099303,"collateral_usd":8765661},{"date":"2026-07-22","value":0.240865,"venues":1,"debt_usd":2099303,"collateral_usd":8715670},{"date":"2026-07-23","value":0.248858,"venues":1,"debt_usd":2138498,"collateral_usd":8593247},{"date":"2026-07-24","value":0.252402,"venues":1,"debt_usd":2138498,"collateral_usd":8472603},{"date":"2026-07-25","value":0.251505,"venues":1,"debt_usd":2138498,"collateral_usd":8502805},{"date":"2026-07-26","value":0.24778,"venues":1,"debt_usd":2138498,"collateral_usd":8630632},{"date":"2026-07-27","value":0.25374,"venues":1,"debt_usd":2138498,"collateral_usd":8427912},{"date":"2026-07-28","value":0.253628,"venues":1,"debt_usd":2138498,"collateral_usd":8431624},{"date":"2026-07-29","value":0.252915,"venues":1,"debt_usd":2138498,"collateral_usd":8455396},{"date":"2026-07-30","value":0.249526,"venues":1,"debt_usd":2138498,"collateral_usd":8570257},{"date":"2026-07-31","value":0.256925,"venues":1,"debt_usd":2138498,"collateral_usd":8323418},{"date":"2026-08-01","value":0.25753,"venues":1,"debt_usd":2138498,"collateral_usd":8303869},{"date":"2026-08-02","value":0.254672,"venues":1,"debt_usd":2138498,"collateral_usd":8397057},{"date":"2026-08-03","value":0.254701,"venues":1,"debt_usd":2138498,"collateral_usd":8396111},{"date":"2026-08-04","value":0.251887,"venues":1,"debt_usd":2138498,"collateral_usd":8489922},{"date":"2026-08-05","value":0.250252,"venues":1,"debt_usd":2138498,"collateral_usd":8545394},{"date":"2026-08-06","value":0.251134,"venues":1,"debt_usd":2138498,"collateral_usd":8515378},{"date":"2026-08-07","value":0.2493,"venues":1,"debt_usd":2138498,"collateral_usd":8578026},{"date":"2026-08-08","value":0.248952,"venues":1,"debt_usd":2138498,"collateral_usd":8589993},{"date":"2026-08-09","value":0.249044,"venues":1,"debt_usd":2138498,"collateral_usd":8586835},{"date":"2026-08-10","value":0.252735,"venues":1,"debt_usd":2138498,"collateral_usd":8461416},{"date":"2026-08-11","value":0.254319,"venues":1,"debt_usd":2138498,"collateral_usd":8408714},{"date":"2026-08-12","value":0.255105,"venues":1,"debt_usd":2138498,"collateral_usd":8382808},{"date":"2026-08-13","value":0.255046,"venues":1,"debt_usd":2138498,"collateral_usd":8384760},{"date":"2026-08-14","value":0.25693,"venues":1,"debt_usd":2138498,"collateral_usd":8323261},{"date":"2026-08-15","value":0.256544,"venues":1,"debt_usd":2138498,"collateral_usd":8335803},{"date":"2026-08-16","value":0.25733,"venues":1,"debt_usd":2138498,"collateral_usd":8310331},{"date":"2026-08-17","value":0.251191,"venues":1,"debt_usd":2138498,"collateral_usd":8513446},{"date":"2026-08-18","value":0.250047,"venues":1,"debt_usd":2138498,"collateral_usd":8552389},{"date":"2026-08-19","value":0.233398,"venues":1,"debt_usd":2138498,"collateral_usd":9162449},{"date":"2026-08-20","value":0.221583,"venues":1,"debt_usd":2138498,"collateral_usd":9651017},{"date":"2026-08-21","value":0.206332,"venues":1,"debt_usd":2138498,"collateral_usd":10364348},{"date":"2026-08-22","value":0.210019,"venues":1,"debt_usd":2138498,"collateral_usd":10182410},{"date":"2026-08-23","value":0.208531,"venues":1,"debt_usd":2138498,"collateral_usd":10255052},{"date":"2026-08-24","value":0.20508,"venues":1,"debt_usd":2138498,"collateral_usd":10427639},{"date":"2026-08-25","value":0.205658,"venues":1,"debt_usd":2138498,"collateral_usd":10398301},{"date":"2026-08-26","value":0.204945,"venues":1,"debt_usd":2138498,"collateral_usd":10434482},{"date":"2026-08-27","value":0.201589,"venues":1,"debt_usd":2138498,"collateral_usd":10608234},{"date":"2026-08-28","value":0.208263,"venues":1,"debt_usd":2138498,"collateral_usd":10268260},{"date":"2026-08-29","value":0.206779,"venues":1,"debt_usd":2138498,"collateral_usd":10341944},{"date":"2026-08-30","value":0.208574,"venues":1,"debt_usd":2138498,"collateral_usd":10252932},{"date":"2026-08-31","value":0.205927,"venues":1,"debt_usd":2138498,"collateral_usd":10384734},{"date":"2026-09-01","value":0.20953,"venues":1,"debt_usd":2138498,"collateral_usd":10206143},{"date":"2026-09-02","value":0.209826,"venues":1,"debt_usd":2138498,"collateral_usd":10191750},{"date":"2026-09-03","value":0.199376,"venues":1,"debt_usd":2138498,"collateral_usd":10725971},{"date":"2026-09-04","value":0.203183,"venues":1,"debt_usd":2138498,"collateral_usd":10524987},{"date":"2026-09-05","value":0.202661,"venues":1,"debt_usd":2138498,"collateral_usd":10552082},{"date":"2026-09-06","value":0.201675,"venues":1,"debt_usd":2138498,"collateral_usd":10603689},{"date":"2026-09-07","value":0.204685,"venues":1,"debt_usd":2138498,"collateral_usd":10447750},{"date":"2026-09-08","value":0.206282,"venues":1,"debt_usd":2138498,"collateral_usd":10366888},{"date":"2026-09-09","value":0.207284,"venues":1,"debt_usd":2138498,"collateral_usd":10316773},{"date":"2026-09-10","value":0.210801,"venues":1,"debt_usd":2138498,"collateral_usd":10144615},{"date":"2026-09-11","value":0.20958,"venues":1,"debt_usd":2138498,"collateral_usd":10203709},{"date":"2026-09-12","value":0.20937,"venues":1,"debt_usd":2138498,"collateral_usd":10213943},{"date":"2026-09-13","value":0.210587,"venues":1,"debt_usd":2138498,"collateral_usd":10154915},{"date":"2026-09-14","value":0.206392,"venues":1,"debt_usd":2138498,"collateral_usd":10361364},{"date":"2026-09-15","value":0.213981,"venues":1,"debt_usd":2138498,"collateral_usd":9993877},{"date":"2026-09-16","value":0.212832,"venues":1,"debt_usd":2138498,"collateral_usd":10047824},{"date":"2026-09-17","value":0.211646,"venues":1,"debt_usd":2138498,"collateral_usd":10104129},{"date":"2026-09-18","value":0.199579,"venues":1,"debt_usd":2138498,"collateral_usd":10715034},{"date":"2026-09-19","value":0.199144,"venues":1,"debt_usd":2138498,"collateral_usd":10738452},{"date":"2026-09-20","value":0.199247,"venues":1,"debt_usd":2138498,"collateral_usd":10732920},{"date":"2026-09-21","value":0.186916,"venues":1,"debt_usd":2138498,"collateral_usd":11440928},{"date":"2026-09-22","value":0.187558,"venues":1,"debt_usd":2138498,"collateral_usd":11401817},{"date":"2026-09-23","value":0.191262,"venues":1,"debt_usd":2138498,"collateral_usd":11180991},{"date":"2026-09-24","value":0.191702,"venues":1,"debt_usd":2138498,"collateral_usd":11155349},{"date":"2026-09-25","value":0.192816,"venues":1,"debt_usd":2138498,"collateral_usd":11090874},{"date":"2026-09-26","value":0.192062,"venues":1,"debt_usd":2138498,"collateral_usd":11134409},{"date":"2026-09-27","value":0.191779,"venues":1,"debt_usd":2138498,"collateral_usd":11150847},{"date":"2026-09-28","value":0.194024,"venues":1,"debt_usd":2138498,"collateral_usd":11021817},{"date":"2026-09-29","value":0.193581,"venues":1,"debt_usd":2138498,"collateral_usd":11047049},{"date":"2026-09-30","value":0.193291,"venues":1,"debt_usd":2138498,"collateral_usd":11063591},{"date":"2026-10-01","value":0.190961,"venues":1,"debt_usd":2138498,"collateral_usd":11198596},{"date":"2026-10-02","value":0.191799,"venues":1,"debt_usd":2138498,"collateral_usd":11149711},{"date":"2026-10-03","value":0.190633,"venues":1,"debt_usd":2138498,"collateral_usd":11217891},{"date":"2026-10-04","value":0.187057,"venues":1,"debt_usd":2138498,"collateral_usd":11432310},{"date":"2026-10-05","value":0.188445,"venues":1,"debt_usd":2138498,"collateral_usd":11348098},{"date":"2026-10-06","value":0.189004,"venues":1,"debt_usd":2138498,"collateral_usd":11314594},{"date":"2026-10-07","value":0.199639,"venues":1,"debt_usd":2199360,"collateral_usd":11016667},{"date":"2026-10-08","value":0.203538,"venues":1,"debt_usd":2199360,"collateral_usd":10805627},{"date":"2026-10-09","value":0.201732,"venues":1,"debt_usd":2199360,"collateral_usd":10902372},{"date":"2026-10-10","value":0.20071,"venues":1,"debt_usd":2199360,"collateral_usd":10957882},{"date":"2026-10-11","value":0.199346,"venues":1,"debt_usd":2199360,"collateral_usd":11032903},{"date":"2026-10-12","value":0.203498,"venues":1,"debt_usd":2199360,"collateral_usd":10807775}]},{"class":"auction","weighting":"sum of debt over sum of collateral across the venues observed that date — never an average of ratios","coverage_note":null,"points":[{"date":"2026-08-05","value":0.531614,"venues":1,"debt_usd":9896,"collateral_usd":18615},{"date":"2026-08-06","value":0.533556,"venues":1,"debt_usd":9087,"collateral_usd":17031},{"date":"2026-08-07","value":0.53497,"venues":1,"debt_usd":9087,"collateral_usd":16986},{"date":"2026-08-08","value":0.530845,"venues":1,"debt_usd":9087,"collateral_usd":17118},{"date":"2026-08-09","value":0.523837,"venues":1,"debt_usd":10065,"collateral_usd":19214},{"date":"2026-08-10","value":0.522721,"venues":1,"debt_usd":10065,"collateral_usd":19255},{"date":"2026-08-11","value":0.536492,"venues":1,"debt_usd":11107,"collateral_usd":20703},{"date":"2026-08-12","value":0.539332,"venues":1,"debt_usd":11107,"collateral_usd":20594},{"date":"2026-08-13","value":0.540723,"venues":1,"debt_usd":11107,"collateral_usd":20541},{"date":"2026-08-14","value":0.54244,"venues":1,"debt_usd":11107,"collateral_usd":20476},{"date":"2026-08-15","value":0.545156,"venues":1,"debt_usd":11107,"collateral_usd":20374},{"date":"2026-08-16","value":0.535181,"venues":1,"debt_usd":11181,"collateral_usd":20892},{"date":"2026-08-17","value":0.533241,"venues":1,"debt_usd":11181,"collateral_usd":20968},{"date":"2026-08-18","value":0.526825,"venues":1,"debt_usd":11862,"collateral_usd":22516},{"date":"2026-08-19","value":0.523871,"venues":1,"debt_usd":11862,"collateral_usd":22643},{"date":"2026-08-20","value":0.485701,"venues":1,"debt_usd":11532,"collateral_usd":23743},{"date":"2026-08-21","value":0.443723,"venues":1,"debt_usd":12099,"collateral_usd":27267},{"date":"2026-08-22","value":0.42369,"venues":1,"debt_usd":11421,"collateral_usd":26956},{"date":"2026-08-23","value":0.436828,"venues":1,"debt_usd":12395,"collateral_usd":28375},{"date":"2026-08-24","value":0.436797,"venues":1,"debt_usd":12395,"collateral_usd":28377},{"date":"2026-08-25","value":0.420383,"venues":1,"debt_usd":12820,"collateral_usd":30496},{"date":"2026-08-26","value":0.42892,"venues":1,"debt_usd":12820,"collateral_usd":29889},{"date":"2026-08-27","value":0.429942,"venues":1,"debt_usd":12820,"collateral_usd":29818},{"date":"2026-08-28","value":0.432606,"venues":1,"debt_usd":14186,"collateral_usd":32792},{"date":"2026-08-29","value":0.445135,"venues":1,"debt_usd":14186,"collateral_usd":31869},{"date":"2026-08-30","value":0.449467,"venues":1,"debt_usd":14329,"collateral_usd":31880},{"date":"2026-08-31","value":0.452304,"venues":1,"debt_usd":14329,"collateral_usd":31680},{"date":"2026-09-01","value":0.451498,"venues":1,"debt_usd":14773,"collateral_usd":32720},{"date":"2026-09-02","value":0.45876,"venues":1,"debt_usd":14773,"collateral_usd":32202},{"date":"2026-09-03","value":0.446742,"venues":1,"debt_usd":12360,"collateral_usd":27667},{"date":"2026-09-04","value":0.427626,"venues":1,"debt_usd":13380,"collateral_usd":31289},{"date":"2026-09-05","value":0.435009,"venues":1,"debt_usd":13380,"collateral_usd":30758},{"date":"2026-09-06","value":0.434878,"venues":1,"debt_usd":13663,"collateral_usd":31418},{"date":"2026-09-07","value":0.436114,"venues":1,"debt_usd":13663,"collateral_usd":31329},{"date":"2026-09-08","value":0.43902,"venues":1,"debt_usd":15036,"collateral_usd":34249},{"date":"2026-09-09","value":0.440964,"venues":1,"debt_usd":15036,"collateral_usd":34098},{"date":"2026-09-10","value":0.430138,"venues":1,"debt_usd":12628,"collateral_usd":29358},{"date":"2026-09-11","value":0.447784,"venues":1,"debt_usd":14364,"collateral_usd":32078},{"date":"2026-09-12","value":0.444885,"venues":1,"debt_usd":14364,"collateral_usd":32287},{"date":"2026-09-13","value":0.453736,"venues":1,"debt_usd":15236,"collateral_usd":33579},{"date":"2026-09-14","value":0.451624,"venues":1,"debt_usd":15236,"collateral_usd":33736},{"date":"2026-09-15","value":0.457627,"venues":1,"debt_usd":16054,"collateral_usd":35081},{"date":"2026-09-16","value":0.469992,"venues":1,"debt_usd":16054,"collateral_usd":34158},{"date":"2026-09-17","value":0.459868,"venues":1,"debt_usd":13636,"collateral_usd":29652},{"date":"2026-09-18","value":0.458074,"venues":1,"debt_usd":13597,"collateral_usd":29683},{"date":"2026-09-19","value":0.435494,"venues":1,"debt_usd":13597,"collateral_usd":31222},{"date":"2026-09-20","value":0.441786,"venues":1,"debt_usd":14552,"collateral_usd":32939},{"date":"2026-09-21","value":0.436918,"venues":1,"debt_usd":14552,"collateral_usd":33306},{"date":"2026-09-22","value":0.427345,"venues":1,"debt_usd":16428,"collateral_usd":38442},{"date":"2026-09-23","value":0.422173,"venues":1,"debt_usd":16428,"collateral_usd":38913},{"date":"2026-09-24","value":0.442417,"venues":1,"debt_usd":18159,"collateral_usd":41045},{"date":"2026-09-25","value":0.441545,"venues":1,"debt_usd":18159,"collateral_usd":41126},{"date":"2026-09-26","value":0.438184,"venues":1,"debt_usd":16690,"collateral_usd":38089},{"date":"2026-09-27","value":0.437809,"venues":1,"debt_usd":16941,"collateral_usd":38695},{"date":"2026-09-28","value":0.441323,"venues":1,"debt_usd":16291,"collateral_usd":36914},{"date":"2026-09-29","value":0.444163,"venues":1,"debt_usd":16291,"collateral_usd":36678},{"date":"2026-09-30","value":0.443699,"venues":1,"debt_usd":16987,"collateral_usd":38285},{"date":"2026-10-01","value":0.433458,"venues":1,"debt_usd":15256,"collateral_usd":35196},{"date":"2026-10-02","value":0.425907,"venues":1,"debt_usd":15618,"collateral_usd":36670},{"date":"2026-10-03","value":0.428948,"venues":1,"debt_usd":15618,"collateral_usd":36410},{"date":"2026-10-04","value":0.428944,"venues":1,"debt_usd":15955,"collateral_usd":37196},{"date":"2026-10-05","value":0.419329,"venues":1,"debt_usd":15672,"collateral_usd":37374},{"date":"2026-10-06","value":0.4183,"venues":1,"debt_usd":16202,"collateral_usd":38733},{"date":"2026-10-07","value":0.426241,"venues":1,"debt_usd":16935,"collateral_usd":39731},{"date":"2026-10-08","value":0.435797,"venues":1,"debt_usd":15958,"collateral_usd":36618},{"date":"2026-10-09","value":0.443699,"venues":1,"debt_usd":16341,"collateral_usd":36829},{"date":"2026-10-10","value":0.440934,"venues":1,"debt_usd":16341,"collateral_usd":37060},{"date":"2026-10-11","value":0.439824,"venues":1,"debt_usd":16690,"collateral_usd":37947},{"date":"2026-10-12","value":0.445513,"venues":1,"debt_usd":16950,"collateral_usd":38046},{"date":"2026-10-13","value":0.449126,"venues":1,"debt_usd":16950,"collateral_usd":37740}]},{"class":"posted-card","points":[],"absent_because":"No desk in this class discloses a realised LTV series. One desk (Ledn) has published one average LTV at one date; one point is not a series. The desks' POSTED maximum LTVs are served on /v1/venues/compare as ltv.max, a policy and not an observation."},{"class":"corporate","points":[],"absent_because":"A corporate instrument has no collateral posted to a lender, so there is no LTV. The coverage ratio against the attachment point is served below as corporate_analogue — an analogue, not an LTV."}],"absences":[{"venue_id":"sky_ethereum","reason":"74 ilk-day(s) carry no realised LTV because no BTC reference price exists for that date (latest 2026-10-13). They keep their exact debt and collateral in credit_vat_ilk_daily with ltv_absence_reason; they are absent here, not zero."}],"identity":{"date":"2026-10-13","venues_debt_usd":2487763802,"classes_debt_usd":2487763802,"holds":true}},"ltv_history_unavailable":null,"composition_validated_unavailable":null,"debt_by_collateral":{"as_of":"2026-10-13","question":"How much debt is owed against each bitcoin wrapper?","unit":"usd","observers_note":"Two populations answering one question, published side by side and NEVER spliced. The aggregator cut is wide and unverified; the venue-API cut is exact and narrow. Where they differ the difference is coverage, not disagreement.","pooled":{"debt_usd":18228946685,"venues":68,"points":[{"date":"2025-10-14","debt_usd":32474725457,"venues":53,"basket":[{"asset_class":"other","supplied_usd":32148528337,"venues":49,"reserves":419},{"asset_class":"dollar","supplied_usd":22277317170,"venues":45,"reserves":196},{"asset_class":"ether","supplied_usd":17146283573,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":14396101296,"venues":50,"reserves":98}]},{"date":"2025-10-15","debt_usd":31818558326,"venues":53,"basket":[{"asset_class":"other","supplied_usd":30891955052,"venues":49,"reserves":419},{"asset_class":"dollar","supplied_usd":22310282279,"venues":45,"reserves":196},{"asset_class":"ether","supplied_usd":16461835352,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":14003910191,"venues":50,"reserves":98}]},{"date":"2025-10-16","debt_usd":31164739166,"venues":51,"basket":[{"asset_class":"other","supplied_usd":30027031238,"venues":47,"reserves":407},{"asset_class":"dollar","supplied_usd":22098037805,"venues":43,"reserves":191},{"asset_class":"ether","supplied_usd":15977314354,"venues":35,"reserves":48},{"asset_class":"bitcoin","supplied_usd":13424771331,"venues":48,"reserves":94}]},{"date":"2025-10-17","debt_usd":30811955489,"venues":51,"basket":[{"asset_class":"other","supplied_usd":29823720265,"venues":47,"reserves":406},{"asset_class":"dollar","supplied_usd":22032491899,"venues":43,"reserves":191},{"asset_class":"ether","supplied_usd":15750989011,"venues":35,"reserves":48},{"asset_class":"bitcoin","supplied_usd":13286271889,"venues":48,"reserves":93}]},{"date":"2025-10-18","debt_usd":30891048293,"venues":48,"basket":[{"asset_class":"other","supplied_usd":30010933203,"venues":45,"reserves":394},{"asset_class":"dollar","supplied_usd":22060569141,"venues":42,"reserves":188},{"asset_class":"ether","supplied_usd":15881862535,"venues":33,"reserves":46},{"asset_class":"bitcoin","supplied_usd":13294082627,"venues":45,"reserves":89}]},{"date":"2025-10-19","debt_usd":31504016095,"venues":48,"basket":[{"asset_class":"other","supplied_usd":30962502992,"venues":45,"reserves":394},{"asset_class":"dollar","supplied_usd":21535516916,"venues":42,"reserves":188},{"asset_class":"ether","supplied_usd":16408846940,"venues":33,"reserves":46},{"asset_class":"bitcoin","supplied_usd":13587449060,"venues":45,"reserves":90}]},{"date":"2025-10-20","debt_usd":31623476015,"venues":48,"basket":[{"asset_class":"other","supplied_usd":30838234983,"venues":45,"reserves":395},{"asset_class":"dollar","supplied_usd":22188021932,"venues":42,"reserves":188},{"asset_class":"ether","supplied_usd":16255192157,"venues":33,"reserves":46},{"asset_class":"bitcoin","supplied_usd":13808618874,"venues":45,"reserves":90}]},{"date":"2025-10-21","debt_usd":31176345532,"venues":48,"basket":[{"asset_class":"other","supplied_usd":30482285693,"venues":45,"reserves":396},{"asset_class":"dollar","supplied_usd":22218126668,"venues":42,"reserves":188},{"asset_class":"ether","supplied_usd":15843448147,"venues":33,"reserves":46},{"asset_class":"bitcoin","supplied_usd":13554137831,"venues":45,"reserves":90}]},{"date":"2025-10-22","debt_usd":30495885234,"venues":53,"basket":[{"asset_class":"other","supplied_usd":29406548831,"venues":49,"reserves":421},{"asset_class":"dollar","supplied_usd":20789102830,"venues":45,"reserves":196},{"asset_class":"ether","supplied_usd":15387327380,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":13334106659,"venues":50,"reserves":99}]},{"date":"2025-10-23","debt_usd":31285507341,"venues":53,"basket":[{"asset_class":"other","supplied_usd":30304093146,"venues":49,"reserves":420},{"asset_class":"dollar","supplied_usd":21342835517,"venues":45,"reserves":196},{"asset_class":"ether","supplied_usd":15759772493,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":13714522301,"venues":50,"reserves":99}]},{"date":"2025-10-24","debt_usd":31280154306,"venues":53,"basket":[{"asset_class":"other","supplied_usd":31048702081,"venues":50,"reserves":421},{"asset_class":"dollar","supplied_usd":21327976024,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":15953700991,"venues":37,"reserves":51},{"asset_class":"bitcoin","supplied_usd":13808681615,"venues":50,"reserves":99}]},{"date":"2025-10-25","debt_usd":31423456486,"venues":53,"basket":[{"asset_class":"other","supplied_usd":31323652224,"venues":50,"reserves":422},{"asset_class":"dollar","supplied_usd":21349188245,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":16140197809,"venues":37,"reserves":51},{"asset_class":"bitcoin","supplied_usd":13886152246,"venues":50,"reserves":99}]},{"date":"2025-10-26","debt_usd":32180644773,"venues":53,"basket":[{"asset_class":"other","supplied_usd":32687956545,"venues":50,"reserves":421},{"asset_class":"dollar","supplied_usd":21482561522,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":16968726354,"venues":37,"reserves":51},{"asset_class":"bitcoin","supplied_usd":14308956382,"venues":50,"reserves":100}]},{"date":"2025-10-27","debt_usd":32194370475,"venues":53,"basket":[{"asset_class":"other","supplied_usd":32656644238,"venues":50,"reserves":422},{"asset_class":"dollar","supplied_usd":21383606030,"venues":45,"reserves":196},{"asset_class":"ether","supplied_usd":16827447998,"venues":37,"reserves":51},{"asset_class":"bitcoin","supplied_usd":14238484418,"venues":50,"reserves":100}]},{"date":"2025-10-28","debt_usd":31941219327,"venues":53,"basket":[{"asset_class":"other","supplied_usd":31886622669,"venues":50,"reserves":423},{"asset_class":"dollar","supplied_usd":21398401343,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":16328712633,"venues":37,"reserves":51},{"asset_class":"bitcoin","supplied_usd":14147546183,"venues":50,"reserves":100}]},{"date":"2025-10-29","debt_usd":31707857596,"venues":53,"basket":[{"asset_class":"other","supplied_usd":31590127264,"venues":50,"reserves":423},{"asset_class":"dollar","supplied_usd":21483656366,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":16088521275,"venues":37,"reserves":51},{"asset_class":"bitcoin","supplied_usd":13860832621,"venues":50,"reserves":100}]},{"date":"2025-10-30","debt_usd":30824281166,"venues":53,"basket":[{"asset_class":"other","supplied_usd":30004875997,"venues":50,"reserves":425},{"asset_class":"dollar","supplied_usd":21494804173,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":15438125933,"venues":37,"reserves":51},{"asset_class":"bitcoin","supplied_usd":13375181593,"venues":50,"reserves":99}]},{"date":"2025-10-31","debt_usd":31168158295,"venues":53,"basket":[{"asset_class":"other","supplied_usd":30592903230,"venues":50,"reserves":424},{"asset_class":"dollar","supplied_usd":21719663091,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":15760563788,"venues":37,"reserves":51},{"asset_class":"bitcoin","supplied_usd":13421662553,"venues":50,"reserves":99}]},{"date":"2025-11-01","debt_usd":31263998406,"venues":53,"basket":[{"asset_class":"other","supplied_usd":30571848509,"venues":50,"reserves":424},{"asset_class":"dollar","supplied_usd":22065697859,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":15823222073,"venues":37,"reserves":51},{"asset_class":"bitcoin","supplied_usd":13313837703,"venues":50,"reserves":99}]},{"date":"2025-11-02","debt_usd":31300383790,"venues":53,"basket":[{"asset_class":"other","supplied_usd":30445676827,"venues":50,"reserves":424},{"asset_class":"dollar","supplied_usd":22002148199,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":15757869882,"venues":37,"reserves":51},{"asset_class":"bitcoin","supplied_usd":13303376648,"venues":50,"reserves":99}]},{"date":"2025-11-03","debt_usd":29665540376,"venues":53,"basket":[{"asset_class":"other","supplied_usd":28251692484,"venues":50,"reserves":424},{"asset_class":"dollar","supplied_usd":21326168880,"venues":45,"reserves":198},{"asset_class":"ether","supplied_usd":14506823242,"venues":37,"reserves":51},{"asset_class":"bitcoin","supplied_usd":12750815454,"venues":50,"reserves":99}]},{"date":"2025-11-04","debt_usd":27717565932,"venues":53,"basket":[{"asset_class":"other","supplied_usd":25919826110,"venues":50,"reserves":426},{"asset_class":"dollar","supplied_usd":20343770826,"venues":45,"reserves":196},{"asset_class":"ether","supplied_usd":12905175935,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":11917554068,"venues":50,"reserves":98}]},{"date":"2025-11-05","debt_usd":28219979668,"venues":53,"basket":[{"asset_class":"other","supplied_usd":27235872614,"venues":50,"reserves":425},{"asset_class":"dollar","supplied_usd":18983290082,"venues":45,"reserves":195},{"asset_class":"ether","supplied_usd":13669029049,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":12115741002,"venues":50,"reserves":99}]},{"date":"2025-11-06","debt_usd":27729899301,"venues":53,"basket":[{"asset_class":"other","supplied_usd":26134869099,"venues":50,"reserves":425},{"asset_class":"dollar","supplied_usd":19040795286,"venues":45,"reserves":193},{"asset_class":"ether","supplied_usd":13051546703,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":11980528879,"venues":50,"reserves":98}]},{"date":"2025-11-07","debt_usd":28115326367,"venues":53,"basket":[{"asset_class":"other","supplied_usd":27181378951,"venues":50,"reserves":426},{"asset_class":"dollar","supplied_usd":18799999569,"venues":44,"reserves":190},{"asset_class":"ether","supplied_usd":13662004717,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":12127147608,"venues":50,"reserves":98}]},{"date":"2025-11-08","debt_usd":27930814534,"venues":53,"basket":[{"asset_class":"other","supplied_usd":26680923616,"venues":50,"reserves":423},{"asset_class":"dollar","supplied_usd":18891871014,"venues":43,"reserves":190},{"asset_class":"ether","supplied_usd":13404054173,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":11950311540,"venues":50,"reserves":98}]},{"date":"2025-11-09","debt_usd":28513749021,"venues":51,"basket":[{"asset_class":"other","supplied_usd":27745920795,"venues":48,"reserves":410},{"asset_class":"dollar","supplied_usd":18816940795,"venues":41,"reserves":186},{"asset_class":"ether","supplied_usd":14100770111,"venues":35,"reserves":48},{"asset_class":"bitcoin","supplied_usd":12230972311,"venues":48,"reserves":94}]},{"date":"2025-11-10","debt_usd":28643812907,"venues":53,"basket":[{"asset_class":"other","supplied_usd":27720893335,"venues":50,"reserves":423},{"asset_class":"dollar","supplied_usd":19084417455,"venues":43,"reserves":192},{"asset_class":"ether","supplied_usd":14314261047,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":12392765411,"venues":49,"reserves":97}]},{"date":"2025-11-11","debt_usd":28165692915,"venues":53,"basket":[{"asset_class":"other","supplied_usd":26590126290,"venues":50,"reserves":422},{"asset_class":"dollar","supplied_usd":19333253632,"venues":43,"reserves":191},{"asset_class":"ether","supplied_usd":14082005758,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":12106349250,"venues":50,"reserves":98}]},{"date":"2025-11-12","debt_usd":28129785547,"venues":53,"basket":[{"asset_class":"other","supplied_usd":26377743464,"venues":50,"reserves":423},{"asset_class":"dollar","supplied_usd":19669290341,"venues":44,"reserves":192},{"asset_class":"ether","supplied_usd":14335573311,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":12087268395,"venues":50,"reserves":99}]},{"date":"2025-11-13","debt_usd":27355620287,"venues":53,"basket":[{"asset_class":"other","supplied_usd":25023444528,"venues":50,"reserves":423},{"asset_class":"dollar","supplied_usd":20518902702,"venues":44,"reserves":192},{"asset_class":"ether","supplied_usd":14019848732,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":11826761356,"venues":50,"reserves":99}]},{"date":"2025-11-14","debt_usd":26975133144,"venues":53,"basket":[{"asset_class":"other","supplied_usd":24554103114,"venues":50,"reserves":423},{"asset_class":"dollar","supplied_usd":20668705752,"venues":44,"reserves":194},{"asset_class":"ether","supplied_usd":14029503102,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":11283706711,"venues":49,"reserves":97}]},{"date":"2025-11-15","debt_usd":27083970825,"venues":53,"basket":[{"asset_class":"other","supplied_usd":24540132884,"venues":50,"reserves":423},{"asset_class":"dollar","supplied_usd":20823303516,"venues":44,"reserves":193},{"asset_class":"ether","supplied_usd":13512466990,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":11249941960,"venues":49,"reserves":97}]},{"date":"2025-11-16","debt_usd":26714592033,"venues":53,"basket":[{"asset_class":"other","supplied_usd":23930094440,"venues":50,"reserves":423},{"asset_class":"dollar","supplied_usd":19419380548,"venues":44,"reserves":192},{"asset_class":"ether","supplied_usd":13458553084,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":11093878547,"venues":49,"reserves":97}]},{"date":"2025-11-17","debt_usd":26314794549,"venues":53,"basket":[{"asset_class":"other","supplied_usd":23407127622,"venues":50,"reserves":423},{"asset_class":"dollar","supplied_usd":19938995290,"venues":44,"reserves":190},{"asset_class":"ether","supplied_usd":13209792042,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10877192190,"venues":49,"reserves":97}]},{"date":"2025-11-18","debt_usd":26662856933,"venues":53,"basket":[{"asset_class":"other","supplied_usd":24092686639,"venues":50,"reserves":423},{"asset_class":"dollar","supplied_usd":20453121363,"venues":44,"reserves":191},{"asset_class":"ether","supplied_usd":13652501639,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10977824518,"venues":49,"reserves":97}]},{"date":"2025-11-19","debt_usd":25886781517,"venues":53,"basket":[{"asset_class":"other","supplied_usd":23033954765,"venues":50,"reserves":424},{"asset_class":"dollar","supplied_usd":20452190043,"venues":44,"reserves":191},{"asset_class":"ether","supplied_usd":12943476891,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10629631787,"venues":49,"reserves":97}]},{"date":"2025-11-20","debt_usd":25476113772,"venues":53,"basket":[{"asset_class":"other","supplied_usd":22450963099,"venues":50,"reserves":425},{"asset_class":"dollar","supplied_usd":21091234700,"venues":44,"reserves":190},{"asset_class":"ether","supplied_usd":12697481851,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10279077411,"venues":49,"reserves":97}]},{"date":"2025-11-21","debt_usd":24557504644,"venues":51,"basket":[{"asset_class":"other","supplied_usd":21333517749,"venues":48,"reserves":417},{"asset_class":"dollar","supplied_usd":20606236408,"venues":43,"reserves":189},{"asset_class":"ether","supplied_usd":12167796755,"venues":36,"reserves":49},{"asset_class":"bitcoin","supplied_usd":9650664651,"venues":48,"reserves":96}]},{"date":"2025-11-22","debt_usd":24786709550,"venues":53,"basket":[{"asset_class":"other","supplied_usd":21746473308,"venues":50,"reserves":425},{"asset_class":"dollar","supplied_usd":20305721470,"venues":44,"reserves":191},{"asset_class":"ether","supplied_usd":12435810672,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":9662441022,"venues":49,"reserves":97}]},{"date":"2025-11-23","debt_usd":24969805874,"venues":53,"basket":[{"asset_class":"other","supplied_usd":22173225008,"venues":50,"reserves":426},{"asset_class":"dollar","supplied_usd":20093220322,"venues":44,"reserves":191},{"asset_class":"ether","supplied_usd":12679926153,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10010446310,"venues":49,"reserves":97}]},{"date":"2025-11-24","debt_usd":25280227537,"venues":53,"basket":[{"asset_class":"other","supplied_usd":22953547535,"venues":50,"reserves":425},{"asset_class":"dollar","supplied_usd":20096055168,"venues":44,"reserves":191},{"asset_class":"ether","supplied_usd":13223616834,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10269614140,"venues":49,"reserves":97}]},{"date":"2025-11-25","debt_usd":25133605281,"venues":54,"basket":[{"asset_class":"other","supplied_usd":22956846463,"venues":51,"reserves":426},{"asset_class":"dollar","supplied_usd":20016414306,"venues":45,"reserves":193},{"asset_class":"ether","supplied_usd":13278662190,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":9966255902,"venues":49,"reserves":97}]},{"date":"2025-11-26","debt_usd":25426935704,"venues":54,"basket":[{"asset_class":"other","supplied_usd":23518838549,"venues":51,"reserves":426},{"asset_class":"dollar","supplied_usd":20083122809,"venues":45,"reserves":193},{"asset_class":"ether","supplied_usd":13482963811,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10408411742,"venues":49,"reserves":97}]},{"date":"2025-11-27","debt_usd":25289342169,"venues":54,"basket":[{"asset_class":"other","supplied_usd":23768674855,"venues":51,"reserves":427},{"asset_class":"dollar","supplied_usd":20166849623,"venues":45,"reserves":192},{"asset_class":"ether","supplied_usd":13422935439,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10536245571,"venues":49,"reserves":98}]},{"date":"2025-11-28","debt_usd":25285277832,"venues":54,"basket":[{"asset_class":"other","supplied_usd":23997416308,"venues":51,"reserves":427},{"asset_class":"dollar","supplied_usd":19947552479,"venues":45,"reserves":190},{"asset_class":"ether","supplied_usd":13536793233,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10398341010,"venues":49,"reserves":98}]},{"date":"2025-11-29","debt_usd":24969231403,"venues":54,"basket":[{"asset_class":"other","supplied_usd":23744096710,"venues":51,"reserves":427},{"asset_class":"dollar","supplied_usd":19541655570,"venues":45,"reserves":190},{"asset_class":"ether","supplied_usd":13313901606,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10228968406,"venues":49,"reserves":97}]},{"date":"2025-11-30","debt_usd":25076171796,"venues":54,"basket":[{"asset_class":"other","supplied_usd":23954765871,"venues":51,"reserves":426},{"asset_class":"dollar","supplied_usd":19597112789,"venues":45,"reserves":190},{"asset_class":"ether","supplied_usd":13491216295,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10251820448,"venues":49,"reserves":97}]},{"date":"2025-12-01","debt_usd":24298566224,"venues":54,"basket":[{"asset_class":"other","supplied_usd":22186612456,"venues":51,"reserves":427},{"asset_class":"dollar","supplied_usd":19740382831,"venues":45,"reserves":191},{"asset_class":"ether","supplied_usd":12920333822,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":9702087822,"venues":49,"reserves":97}]},{"date":"2025-12-02","debt_usd":25091340680,"venues":54,"basket":[{"asset_class":"other","supplied_usd":23656343717,"venues":51,"reserves":426},{"asset_class":"dollar","supplied_usd":18657437206,"venues":45,"reserves":192},{"asset_class":"ether","supplied_usd":13978791466,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10336126218,"venues":49,"reserves":97}]},{"date":"2025-12-03","debt_usd":25588258651,"venues":54,"basket":[{"asset_class":"other","supplied_usd":24813144416,"venues":51,"reserves":428},{"asset_class":"dollar","supplied_usd":18634426440,"venues":45,"reserves":192},{"asset_class":"ether","supplied_usd":14731882511,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10585137561,"venues":49,"reserves":98}]},{"date":"2025-12-04","debt_usd":25371911417,"venues":54,"basket":[{"asset_class":"other","supplied_usd":24412619808,"venues":51,"reserves":429},{"asset_class":"dollar","supplied_usd":18634348768,"venues":45,"reserves":192},{"asset_class":"ether","supplied_usd":14503537641,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10459911124,"venues":49,"reserves":99}]},{"date":"2025-12-05","debt_usd":24985692638,"venues":54,"basket":[{"asset_class":"other","supplied_usd":23546330247,"venues":51,"reserves":429},{"asset_class":"dollar","supplied_usd":19864152920,"venues":45,"reserves":192},{"asset_class":"ether","supplied_usd":13961201762,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10230338808,"venues":49,"reserves":99}]},{"date":"2025-12-06","debt_usd":25011094215,"venues":54,"basket":[{"asset_class":"other","supplied_usd":23623409267,"venues":51,"reserves":429},{"asset_class":"dollar","supplied_usd":19872996270,"venues":45,"reserves":193},{"asset_class":"ether","supplied_usd":14024679192,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10287316873,"venues":49,"reserves":99}]},{"date":"2025-12-07","debt_usd":24929596484,"venues":54,"basket":[{"asset_class":"other","supplied_usd":23536193380,"venues":51,"reserves":428},{"asset_class":"dollar","supplied_usd":19792048155,"venues":45,"reserves":192},{"asset_class":"ether","supplied_usd":13972965318,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10277228590,"venues":49,"reserves":99}]},{"date":"2025-12-08","debt_usd":25386205525,"venues":54,"basket":[{"asset_class":"other","supplied_usd":24243737829,"venues":51,"reserves":430},{"asset_class":"dollar","supplied_usd":19022035048,"venues":45,"reserves":193},{"asset_class":"ether","supplied_usd":14405684969,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10435918108,"venues":49,"reserves":99}]},{"date":"2025-12-09","debt_usd":26219986002,"venues":54,"basket":[{"asset_class":"other","supplied_usd":25595558592,"venues":51,"reserves":430},{"asset_class":"dollar","supplied_usd":18797633232,"venues":45,"reserves":193},{"asset_class":"ether","supplied_usd":15288064225,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10671552232,"venues":49,"reserves":99}]},{"date":"2025-12-10","debt_usd":26427286346,"venues":54,"basket":[{"asset_class":"other","supplied_usd":25778119084,"venues":51,"reserves":430},{"asset_class":"dollar","supplied_usd":18784344222,"venues":45,"reserves":194},{"asset_class":"ether","supplied_usd":15167264217,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10653170814,"venues":49,"reserves":99}]},{"date":"2025-12-11","debt_usd":26027497137,"venues":54,"basket":[{"asset_class":"other","supplied_usd":25236547186,"venues":51,"reserves":430},{"asset_class":"dollar","supplied_usd":18843302073,"venues":45,"reserves":195},{"asset_class":"ether","supplied_usd":14646116119,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10566769876,"venues":49,"reserves":99}]},{"date":"2025-12-12","debt_usd":25277415745,"venues":54,"basket":[{"asset_class":"other","supplied_usd":24198300295,"venues":51,"reserves":430},{"asset_class":"dollar","supplied_usd":18696276550,"venues":45,"reserves":195},{"asset_class":"ether","supplied_usd":13963554589,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10359288510,"venues":49,"reserves":99}]},{"date":"2025-12-13","debt_usd":25254655448,"venues":54,"basket":[{"asset_class":"other","supplied_usd":24260415442,"venues":51,"reserves":430},{"asset_class":"dollar","supplied_usd":18774362076,"venues":45,"reserves":195},{"asset_class":"ether","supplied_usd":14080592353,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10354493718,"venues":49,"reserves":99}]},{"date":"2025-12-14","debt_usd":25168445302,"venues":54,"basket":[{"asset_class":"other","supplied_usd":23932521559,"venues":51,"reserves":430},{"asset_class":"dollar","supplied_usd":19856645537,"venues":45,"reserves":195},{"asset_class":"ether","supplied_usd":13992153728,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10125762473,"venues":49,"reserves":99}]},{"date":"2025-12-15","debt_usd":24866308347,"venues":54,"basket":[{"asset_class":"other","supplied_usd":23217069923,"venues":51,"reserves":430},{"asset_class":"dollar","supplied_usd":19851316680,"venues":45,"reserves":195},{"asset_class":"ether","supplied_usd":13445336160,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":9904525204,"venues":49,"reserves":99}]},{"date":"2025-12-16","debt_usd":24255595401,"venues":54,"basket":[{"asset_class":"other","supplied_usd":23327283999,"venues":51,"reserves":430},{"asset_class":"dollar","supplied_usd":19750990456,"venues":45,"reserves":195},{"asset_class":"ether","supplied_usd":13475681697,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10099242040,"venues":49,"reserves":99}]},{"date":"2025-12-17","debt_usd":23822887102,"venues":54,"basket":[{"asset_class":"other","supplied_usd":22399115852,"venues":51,"reserves":430},{"asset_class":"dollar","supplied_usd":19683151367,"venues":45,"reserves":196},{"asset_class":"ether","supplied_usd":12965473316,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":9948221707,"venues":49,"reserves":99}]},{"date":"2025-12-18","debt_usd":23880183655,"venues":54,"basket":[{"asset_class":"other","supplied_usd":22285968385,"venues":51,"reserves":430},{"asset_class":"dollar","supplied_usd":19842062776,"venues":45,"reserves":195},{"asset_class":"ether","supplied_usd":12907074826,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":9997354087,"venues":49,"reserves":99}]},{"date":"2025-12-19","debt_usd":24864778982,"venues":52,"basket":[{"asset_class":"other","supplied_usd":23646859949,"venues":49,"reserves":422},{"asset_class":"dollar","supplied_usd":19846861380,"venues":44,"reserves":193},{"asset_class":"ether","supplied_usd":13651019384,"venues":36,"reserves":49},{"asset_class":"bitcoin","supplied_usd":10221470845,"venues":48,"reserves":98}]},{"date":"2025-12-20","debt_usd":24552566671,"venues":51,"basket":[{"asset_class":"other","supplied_usd":23430926739,"venues":48,"reserves":412},{"asset_class":"dollar","supplied_usd":20011950918,"venues":44,"reserves":193},{"asset_class":"ether","supplied_usd":13600564443,"venues":36,"reserves":49},{"asset_class":"bitcoin","supplied_usd":10149937338,"venues":47,"reserves":96}]},{"date":"2025-12-21","debt_usd":24556930438,"venues":51,"basket":[{"asset_class":"other","supplied_usd":23470946501,"venues":48,"reserves":412},{"asset_class":"dollar","supplied_usd":20061015403,"venues":44,"reserves":193},{"asset_class":"ether","supplied_usd":13642946700,"venues":36,"reserves":49},{"asset_class":"bitcoin","supplied_usd":10159990564,"venues":47,"reserves":97}]},{"date":"2025-12-22","debt_usd":24746844989,"venues":51,"basket":[{"asset_class":"other","supplied_usd":23590302356,"venues":48,"reserves":412},{"asset_class":"dollar","supplied_usd":19986017654,"venues":44,"reserves":194},{"asset_class":"ether","supplied_usd":13741671643,"venues":36,"reserves":49},{"asset_class":"bitcoin","supplied_usd":10195452805,"venues":47,"reserves":97}]},{"date":"2025-12-23","debt_usd":24592900435,"venues":51,"basket":[{"asset_class":"other","supplied_usd":23234326586,"venues":48,"reserves":412},{"asset_class":"dollar","supplied_usd":20012766958,"venues":44,"reserves":195},{"asset_class":"ether","supplied_usd":13512828512,"venues":36,"reserves":49},{"asset_class":"bitcoin","supplied_usd":10085550990,"venues":47,"reserves":97}]},{"date":"2025-12-24","debt_usd":24559579469,"venues":51,"basket":[{"asset_class":"other","supplied_usd":23229164727,"venues":48,"reserves":413},{"asset_class":"dollar","supplied_usd":20053562537,"venues":44,"reserves":194},{"asset_class":"ether","supplied_usd":13564887516,"venues":36,"reserves":49},{"asset_class":"bitcoin","supplied_usd":10146879554,"venues":47,"reserves":97}]},{"date":"2025-12-25","debt_usd":24436433059,"venues":52,"basket":[{"asset_class":"other","supplied_usd":22987466654,"venues":49,"reserves":418},{"asset_class":"dollar","supplied_usd":20009875849,"venues":45,"reserves":196},{"asset_class":"ether","supplied_usd":13455414560,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10071957332,"venues":48,"reserves":98}]},{"date":"2025-12-26","debt_usd":24475397872,"venues":52,"basket":[{"asset_class":"other","supplied_usd":23035325323,"venues":49,"reserves":418},{"asset_class":"dollar","supplied_usd":20018616496,"venues":45,"reserves":196},{"asset_class":"ether","supplied_usd":13471655655,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":9979236868,"venues":48,"reserves":98}]},{"date":"2025-12-27","debt_usd":24505590089,"venues":52,"basket":[{"asset_class":"other","supplied_usd":23127785134,"venues":49,"reserves":418},{"asset_class":"dollar","supplied_usd":20026013803,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":13543098310,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10013089622,"venues":48,"reserves":98}]},{"date":"2025-12-28","debt_usd":24135955300,"venues":52,"basket":[{"asset_class":"other","supplied_usd":23233742415,"venues":49,"reserves":419},{"asset_class":"dollar","supplied_usd":19567691328,"venues":45,"reserves":196},{"asset_class":"ether","supplied_usd":13610413007,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10048384527,"venues":48,"reserves":98}]},{"date":"2025-12-29","debt_usd":24665564364,"venues":52,"basket":[{"asset_class":"other","supplied_usd":23116210406,"venues":49,"reserves":418},{"asset_class":"dollar","supplied_usd":19962245798,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":13741720949,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":9936204945,"venues":48,"reserves":98}]},{"date":"2025-12-30","debt_usd":24899237116,"venues":53,"basket":[{"asset_class":"other","supplied_usd":23481830783,"venues":50,"reserves":428},{"asset_class":"dollar","supplied_usd":18715484386,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":13867563870,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10025950168,"venues":49,"reserves":100}]},{"date":"2025-12-31","debt_usd":25024683463,"venues":53,"basket":[{"asset_class":"other","supplied_usd":23588007231,"venues":50,"reserves":427},{"asset_class":"dollar","supplied_usd":19218926418,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":13879392375,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10335039717,"venues":49,"reserves":100}]},{"date":"2026-01-01","debt_usd":25099087842,"venues":52,"basket":[{"asset_class":"other","supplied_usd":23708023585,"venues":49,"reserves":424},{"asset_class":"dollar","supplied_usd":19631402122,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":14016118943,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10384244314,"venues":49,"reserves":100}]},{"date":"2026-01-02","debt_usd":25676952440,"venues":52,"basket":[{"asset_class":"other","supplied_usd":24760101564,"venues":49,"reserves":424},{"asset_class":"dollar","supplied_usd":20009842313,"venues":45,"reserves":198},{"asset_class":"ether","supplied_usd":14695947034,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10611187122,"venues":49,"reserves":100}]},{"date":"2026-01-03","debt_usd":25641614214,"venues":52,"basket":[{"asset_class":"other","supplied_usd":24697577712,"venues":49,"reserves":424},{"asset_class":"dollar","supplied_usd":20080402187,"venues":45,"reserves":196},{"asset_class":"ether","supplied_usd":14594753614,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10638463824,"venues":49,"reserves":100}]},{"date":"2026-01-04","debt_usd":25767072127,"venues":52,"basket":[{"asset_class":"other","supplied_usd":24880402646,"venues":49,"reserves":424},{"asset_class":"dollar","supplied_usd":20085078645,"venues":45,"reserves":196},{"asset_class":"ether","supplied_usd":14636676088,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10740032182,"venues":49,"reserves":100}]},{"date":"2026-01-05","debt_usd":26213549442,"venues":52,"basket":[{"asset_class":"other","supplied_usd":25651276175,"venues":49,"reserves":424},{"asset_class":"dollar","supplied_usd":20095408023,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":15130565184,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":11085974208,"venues":49,"reserves":100}]},{"date":"2026-01-06","debt_usd":26438280465,"venues":52,"basket":[{"asset_class":"other","supplied_usd":25953980892,"venues":49,"reserves":424},{"asset_class":"dollar","supplied_usd":19891905572,"venues":45,"reserves":199},{"asset_class":"ether","supplied_usd":15256956241,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":11033139365,"venues":49,"reserves":100}]},{"date":"2026-01-07","debt_usd":25989802367,"venues":52,"basket":[{"asset_class":"other","supplied_usd":25070157035,"venues":49,"reserves":424},{"asset_class":"dollar","supplied_usd":19881591998,"venues":45,"reserves":199},{"asset_class":"ether","supplied_usd":14693608319,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10730049054,"venues":49,"reserves":100}]},{"date":"2026-01-08","debt_usd":25976278425,"venues":52,"basket":[{"asset_class":"other","supplied_usd":24987126777,"venues":49,"reserves":424},{"asset_class":"dollar","supplied_usd":19168867623,"venues":45,"reserves":199},{"asset_class":"ether","supplied_usd":14514375969,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10786274956,"venues":49,"reserves":100}]},{"date":"2026-01-09","debt_usd":25861195803,"venues":52,"basket":[{"asset_class":"other","supplied_usd":24882177756,"venues":49,"reserves":424},{"asset_class":"dollar","supplied_usd":19873570358,"venues":45,"reserves":199},{"asset_class":"ether","supplied_usd":14314449949,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10682471869,"venues":49,"reserves":100}]},{"date":"2026-01-10","debt_usd":25921427147,"venues":52,"basket":[{"asset_class":"other","supplied_usd":24898776232,"venues":49,"reserves":424},{"asset_class":"dollar","supplied_usd":19853200553,"venues":45,"reserves":198},{"asset_class":"ether","supplied_usd":14299326320,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10671776133,"venues":49,"reserves":100}]},{"date":"2026-01-11","debt_usd":26042473898,"venues":52,"basket":[{"asset_class":"other","supplied_usd":25128959367,"venues":49,"reserves":424},{"asset_class":"dollar","supplied_usd":19825187197,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":14465579477,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10713788147,"venues":49,"reserves":100}]},{"date":"2026-01-12","debt_usd":26128461604,"venues":52,"basket":[{"asset_class":"other","supplied_usd":25086119734,"venues":49,"reserves":424},{"asset_class":"dollar","supplied_usd":19944255601,"venues":45,"reserves":197},{"asset_class":"ether","supplied_usd":14386017562,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10777790683,"venues":49,"reserves":101}]},{"date":"2026-01-13","debt_usd":27095497460,"venues":52,"basket":[{"asset_class":"other","supplied_usd":26796797493,"venues":49,"reserves":424},{"asset_class":"dollar","supplied_usd":19952314004,"venues":45,"reserves":200},{"asset_class":"ether","supplied_usd":15396563730,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":11282635189,"venues":49,"reserves":101}]},{"date":"2026-01-14","debt_usd":27154257251,"venues":52,"basket":[{"asset_class":"other","supplied_usd":26880953095,"venues":49,"reserves":425},{"asset_class":"dollar","supplied_usd":19804478283,"venues":45,"reserves":200},{"asset_class":"ether","supplied_usd":15604498109,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":11409483807,"venues":49,"reserves":101}]},{"date":"2026-01-15","debt_usd":27074261192,"venues":52,"basket":[{"asset_class":"other","supplied_usd":26579719411,"venues":49,"reserves":425},{"asset_class":"dollar","supplied_usd":19892922804,"venues":45,"reserves":199},{"asset_class":"ether","supplied_usd":15343094399,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":11263366062,"venues":49,"reserves":101}]},{"date":"2026-01-16","debt_usd":27099349835,"venues":52,"basket":[{"asset_class":"other","supplied_usd":26620077112,"venues":49,"reserves":426},{"asset_class":"dollar","supplied_usd":19949414913,"venues":45,"reserves":201},{"asset_class":"ether","supplied_usd":15279681138,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":11221399205,"venues":49,"reserves":101}]},{"date":"2026-01-17","debt_usd":27251096805,"venues":53,"basket":[{"asset_class":"other","supplied_usd":26903116086,"venues":50,"reserves":426},{"asset_class":"dollar","supplied_usd":20008856286,"venues":46,"reserves":205},{"asset_class":"ether","supplied_usd":15372933235,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":11192129075,"venues":49,"reserves":101}]},{"date":"2026-01-18","debt_usd":27382967766,"venues":52,"basket":[{"asset_class":"other","supplied_usd":27190119649,"venues":49,"reserves":425},{"asset_class":"dollar","supplied_usd":20023211383,"venues":45,"reserves":201},{"asset_class":"ether","supplied_usd":15541740274,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":11236800308,"venues":49,"reserves":101}]},{"date":"2026-01-19","debt_usd":27000977906,"venues":52,"basket":[{"asset_class":"other","supplied_usd":26399062736,"venues":49,"reserves":425},{"asset_class":"dollar","supplied_usd":20196386427,"venues":45,"reserves":202},{"asset_class":"ether","supplied_usd":14866194728,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10911045448,"venues":49,"reserves":102}]},{"date":"2026-01-20","debt_usd":26375235483,"venues":54,"basket":[{"asset_class":"other","supplied_usd":24745002806,"venues":51,"reserves":429},{"asset_class":"dollar","supplied_usd":19117312637,"venues":46,"reserves":206},{"asset_class":"ether","supplied_usd":13817123755,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":10390826848,"venues":49,"reserves":102}]},{"date":"2026-01-21","debt_usd":26795949719,"venues":50,"basket":[{"asset_class":"other","supplied_usd":25315000378,"venues":48,"reserves":416},{"asset_class":"dollar","supplied_usd":19260514412,"venues":44,"reserves":202},{"asset_class":"ether","supplied_usd":14156666214,"venues":35,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10509352932,"venues":45,"reserves":97}]},{"date":"2026-01-22","debt_usd":26601454137,"venues":49,"basket":[{"asset_class":"other","supplied_usd":24878468846,"venues":47,"reserves":412},{"asset_class":"dollar","supplied_usd":19100888030,"venues":43,"reserves":199},{"asset_class":"ether","supplied_usd":13839662776,"venues":34,"reserves":47},{"asset_class":"bitcoin","supplied_usd":10436109739,"venues":44,"reserves":96}]},{"date":"2026-01-23","debt_usd":26726229374,"venues":49,"basket":[{"asset_class":"other","supplied_usd":24963420427,"venues":47,"reserves":412},{"asset_class":"dollar","supplied_usd":19076461736,"venues":43,"reserves":199},{"asset_class":"ether","supplied_usd":13866207061,"venues":34,"reserves":47},{"asset_class":"bitcoin","supplied_usd":10381131874,"venues":44,"reserves":96}]},{"date":"2026-01-24","debt_usd":26809593442,"venues":49,"basket":[{"asset_class":"other","supplied_usd":25000274141,"venues":47,"reserves":412},{"asset_class":"dollar","supplied_usd":19896899960,"venues":43,"reserves":199},{"asset_class":"ether","supplied_usd":13904841619,"venues":34,"reserves":47},{"asset_class":"bitcoin","supplied_usd":10356974901,"venues":44,"reserves":96}]},{"date":"2026-01-25","debt_usd":26179126821,"venues":51,"basket":[{"asset_class":"other","supplied_usd":23868148011,"venues":49,"reserves":420},{"asset_class":"dollar","supplied_usd":20074562217,"venues":44,"reserves":202},{"asset_class":"ether","supplied_usd":13214574563,"venues":35,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10062260293,"venues":45,"reserves":97}]},{"date":"2026-01-26","debt_usd":26887386384,"venues":51,"basket":[{"asset_class":"other","supplied_usd":24833636489,"venues":49,"reserves":421},{"asset_class":"dollar","supplied_usd":20043166896,"venues":44,"reserves":202},{"asset_class":"ether","supplied_usd":14084551437,"venues":35,"reserves":48},{"asset_class":"bitcoin","supplied_usd":10209194699,"venues":45,"reserves":97}]},{"date":"2026-01-27","debt_usd":27710974638,"venues":56,"basket":[{"asset_class":"other","supplied_usd":25722115322,"venues":53,"reserves":439},{"asset_class":"dollar","supplied_usd":20183387549,"venues":47,"reserves":208},{"asset_class":"ether","supplied_usd":14530332088,"venues":38,"reserves":51},{"asset_class":"bitcoin","supplied_usd":10357096311,"venues":50,"reserves":103}]},{"date":"2026-01-28","debt_usd":27940464734,"venues":57,"basket":[{"asset_class":"other","supplied_usd":25816727637,"venues":54,"reserves":441},{"asset_class":"dollar","supplied_usd":20265623737,"venues":48,"reserves":209},{"asset_class":"ether","supplied_usd":14567853849,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":10406615047,"venues":50,"reserves":103}]},{"date":"2026-01-29","debt_usd":27317171543,"venues":57,"basket":[{"asset_class":"other","supplied_usd":24731922553,"venues":54,"reserves":445},{"asset_class":"dollar","supplied_usd":20396322220,"venues":48,"reserves":212},{"asset_class":"ether","supplied_usd":13682028333,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":9872908585,"venues":50,"reserves":103}]},{"date":"2026-01-30","debt_usd":26452069540,"venues":57,"basket":[{"asset_class":"other","supplied_usd":23835981196,"venues":54,"reserves":445},{"asset_class":"dollar","supplied_usd":20262111791,"venues":48,"reserves":213},{"asset_class":"ether","supplied_usd":13069490396,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":9772701305,"venues":50,"reserves":103}]},{"date":"2026-01-31","debt_usd":24743063678,"venues":57,"basket":[{"asset_class":"other","supplied_usd":21768594701,"venues":54,"reserves":445},{"asset_class":"dollar","supplied_usd":19981975515,"venues":48,"reserves":213},{"asset_class":"ether","supplied_usd":11696020163,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8893254309,"venues":50,"reserves":102}]},{"date":"2026-02-01","debt_usd":24253127083,"venues":57,"basket":[{"asset_class":"other","supplied_usd":21316276215,"venues":54,"reserves":445},{"asset_class":"dollar","supplied_usd":19916380617,"venues":48,"reserves":212},{"asset_class":"ether","supplied_usd":11334783546,"venues":38,"reserves":52},{"asset_class":"bitcoin","supplied_usd":8814211872,"venues":50,"reserves":103}]},{"date":"2026-02-02","debt_usd":24227330244,"venues":57,"basket":[{"asset_class":"other","supplied_usd":21530230727,"venues":54,"reserves":444},{"asset_class":"dollar","supplied_usd":19761367494,"venues":48,"reserves":213},{"asset_class":"ether","supplied_usd":11558827925,"venues":38,"reserves":52},{"asset_class":"bitcoin","supplied_usd":9019402484,"venues":50,"reserves":104}]},{"date":"2026-02-03","debt_usd":23746936579,"venues":57,"basket":[{"asset_class":"other","supplied_usd":20817497897,"venues":54,"reserves":446},{"asset_class":"dollar","supplied_usd":19826467784,"venues":48,"reserves":212},{"asset_class":"ether","supplied_usd":10820405725,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8829808731,"venues":50,"reserves":104}]},{"date":"2026-02-04","debt_usd":22768640646,"venues":55,"basket":[{"asset_class":"dollar","supplied_usd":20187597939,"venues":47,"reserves":213},{"asset_class":"other","supplied_usd":19803912292,"venues":52,"reserves":441},{"asset_class":"ether","supplied_usd":10009009955,"venues":36,"reserves":48},{"asset_class":"bitcoin","supplied_usd":8439649072,"venues":50,"reserves":104}]},{"date":"2026-02-05","debt_usd":21093404478,"venues":57,"basket":[{"asset_class":"dollar","supplied_usd":19574361842,"venues":48,"reserves":214},{"asset_class":"other","supplied_usd":17889572737,"venues":54,"reserves":447},{"asset_class":"ether","supplied_usd":9162999615,"venues":38,"reserves":52},{"asset_class":"bitcoin","supplied_usd":7556467440,"venues":50,"reserves":104}]},{"date":"2026-02-06","debt_usd":20921195756,"venues":57,"basket":[{"asset_class":"other","supplied_usd":19202676252,"venues":54,"reserves":448},{"asset_class":"dollar","supplied_usd":18840185236,"venues":48,"reserves":214},{"asset_class":"ether","supplied_usd":9384433491,"venues":38,"reserves":52},{"asset_class":"bitcoin","supplied_usd":8370205478,"venues":50,"reserves":103}]},{"date":"2026-02-07","debt_usd":20659310979,"venues":57,"basket":[{"asset_class":"other","supplied_usd":19286361375,"venues":54,"reserves":448},{"asset_class":"dollar","supplied_usd":18745841895,"venues":48,"reserves":214},{"asset_class":"ether","supplied_usd":9404716385,"venues":38,"reserves":52},{"asset_class":"bitcoin","supplied_usd":8189757491,"venues":50,"reserves":103}]},{"date":"2026-02-08","debt_usd":20720093173,"venues":57,"basket":[{"asset_class":"other","supplied_usd":19343276730,"venues":54,"reserves":447},{"asset_class":"dollar","supplied_usd":19092954177,"venues":48,"reserves":214},{"asset_class":"ether","supplied_usd":9447250113,"venues":38,"reserves":52},{"asset_class":"bitcoin","supplied_usd":8379652479,"venues":50,"reserves":103}]},{"date":"2026-02-09","debt_usd":20717376888,"venues":57,"basket":[{"asset_class":"other","supplied_usd":19269225766,"venues":54,"reserves":447},{"asset_class":"dollar","supplied_usd":19228486277,"venues":48,"reserves":214},{"asset_class":"ether","supplied_usd":9417379299,"venues":38,"reserves":52},{"asset_class":"bitcoin","supplied_usd":8282174731,"venues":50,"reserves":103}]},{"date":"2026-02-10","debt_usd":20197305771,"venues":57,"basket":[{"asset_class":"dollar","supplied_usd":19086444052,"venues":48,"reserves":214},{"asset_class":"other","supplied_usd":18511635020,"venues":54,"reserves":448},{"asset_class":"ether","supplied_usd":9037165862,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8066675309,"venues":50,"reserves":103}]},{"date":"2026-02-11","debt_usd":19914418738,"venues":57,"basket":[{"asset_class":"dollar","supplied_usd":19002893246,"venues":48,"reserves":216},{"asset_class":"other","supplied_usd":18082972472,"venues":54,"reserves":449},{"asset_class":"ether","supplied_usd":8779776636,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":7924668638,"venues":50,"reserves":103}]},{"date":"2026-02-12","debt_usd":20078231707,"venues":57,"basket":[{"asset_class":"dollar","supplied_usd":19326289519,"venues":48,"reserves":216},{"asset_class":"other","supplied_usd":18020984831,"venues":54,"reserves":438},{"asset_class":"ether","supplied_usd":8851946581,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":7950409372,"venues":50,"reserves":102}]},{"date":"2026-02-13","debt_usd":20616618270,"venues":57,"basket":[{"asset_class":"dollar","supplied_usd":19226569186,"venues":48,"reserves":216},{"asset_class":"other","supplied_usd":18845277815,"venues":54,"reserves":438},{"asset_class":"ether","supplied_usd":9354276463,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8250067911,"venues":50,"reserves":102}]},{"date":"2026-02-14","debt_usd":20554712729,"venues":55,"basket":[{"asset_class":"dollar","supplied_usd":19285493681,"venues":47,"reserves":214},{"asset_class":"other","supplied_usd":19098253429,"venues":52,"reserves":430},{"asset_class":"ether","supplied_usd":9179113446,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8406519448,"venues":49,"reserves":101}]},{"date":"2026-02-15","debt_usd":19987832133,"venues":55,"basket":[{"asset_class":"dollar","supplied_usd":19308845169,"venues":47,"reserves":214},{"asset_class":"other","supplied_usd":18167428115,"venues":52,"reserves":430},{"asset_class":"ether","supplied_usd":8631684788,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8273078847,"venues":49,"reserves":102}]},{"date":"2026-02-16","debt_usd":20012934161,"venues":55,"basket":[{"asset_class":"dollar","supplied_usd":19337709390,"venues":47,"reserves":213},{"asset_class":"other","supplied_usd":18285924915,"venues":52,"reserves":431},{"asset_class":"ether","supplied_usd":8750029574,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8235917411,"venues":49,"reserves":102}]},{"date":"2026-02-17","debt_usd":19928871305,"venues":57,"basket":[{"asset_class":"dollar","supplied_usd":19242671191,"venues":49,"reserves":219},{"asset_class":"other","supplied_usd":18142844273,"venues":54,"reserves":446},{"asset_class":"ether","supplied_usd":8744184634,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8111914591,"venues":51,"reserves":105}]},{"date":"2026-02-18","debt_usd":19674142992,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":19153927866,"venues":50,"reserves":219},{"asset_class":"other","supplied_usd":17677002888,"venues":56,"reserves":452},{"asset_class":"ether","supplied_usd":8534590118,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":7974632056,"venues":52,"reserves":106}]},{"date":"2026-02-19","debt_usd":19567321136,"venues":57,"basket":[{"asset_class":"dollar","supplied_usd":19103326835,"venues":49,"reserves":217},{"asset_class":"other","supplied_usd":17627431227,"venues":54,"reserves":444},{"asset_class":"ether","supplied_usd":8536628919,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8015737716,"venues":51,"reserves":105}]},{"date":"2026-02-20","debt_usd":19626051965,"venues":57,"basket":[{"asset_class":"dollar","supplied_usd":18484362342,"venues":49,"reserves":217},{"asset_class":"other","supplied_usd":17837610730,"venues":54,"reserves":445},{"asset_class":"ether","supplied_usd":8649014377,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8120304596,"venues":51,"reserves":105}]},{"date":"2026-02-21","debt_usd":19596726954,"venues":57,"basket":[{"asset_class":"dollar","supplied_usd":18438661960,"venues":49,"reserves":217},{"asset_class":"other","supplied_usd":17938919098,"venues":54,"reserves":445},{"asset_class":"ether","supplied_usd":8688806548,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8125797821,"venues":51,"reserves":105}]},{"date":"2026-02-22","debt_usd":19474361212,"venues":57,"basket":[{"asset_class":"dollar","supplied_usd":19068635153,"venues":49,"reserves":218},{"asset_class":"other","supplied_usd":17774626871,"venues":54,"reserves":445},{"asset_class":"ether","supplied_usd":8607898339,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8063936916,"venues":51,"reserves":105}]},{"date":"2026-02-23","debt_usd":19063081421,"venues":57,"basket":[{"asset_class":"dollar","supplied_usd":18994442102,"venues":49,"reserves":218},{"asset_class":"other","supplied_usd":17015294856,"venues":54,"reserves":446},{"asset_class":"ether","supplied_usd":8154074955,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":7711291682,"venues":51,"reserves":105}]},{"date":"2026-02-24","debt_usd":19014054951,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":19042521492,"venues":50,"reserves":220},{"asset_class":"other","supplied_usd":17006967251,"venues":56,"reserves":452},{"asset_class":"ether","supplied_usd":8140984993,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":7678372270,"venues":52,"reserves":105}]},{"date":"2026-02-25","debt_usd":19901407743,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":19013854630,"venues":50,"reserves":220},{"asset_class":"other","supplied_usd":18546713241,"venues":56,"reserves":452},{"asset_class":"ether","supplied_usd":9106598946,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8178094480,"venues":52,"reserves":105}]},{"date":"2026-02-26","debt_usd":19638810883,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":18958035737,"venues":50,"reserves":220},{"asset_class":"other","supplied_usd":18191760221,"venues":56,"reserves":454},{"asset_class":"ether","supplied_usd":8883966261,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8018389949,"venues":52,"reserves":105}]},{"date":"2026-02-27","debt_usd":19139569228,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":18866778807,"venues":50,"reserves":221},{"asset_class":"other","supplied_usd":17447895025,"venues":56,"reserves":454},{"asset_class":"ether","supplied_usd":8409922655,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":7776302296,"venues":52,"reserves":106}]},{"date":"2026-02-28","debt_usd":19338477980,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":18771972692,"venues":50,"reserves":222},{"asset_class":"other","supplied_usd":17848587429,"venues":56,"reserves":454},{"asset_class":"ether","supplied_usd":8654929731,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":7983858559,"venues":52,"reserves":107}]},{"date":"2026-03-01","debt_usd":19111003680,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":18818975841,"venues":50,"reserves":222},{"asset_class":"other","supplied_usd":17494068342,"venues":56,"reserves":453},{"asset_class":"ether","supplied_usd":8465008779,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":7744604493,"venues":52,"reserves":107}]},{"date":"2026-03-02","debt_usd":19610204714,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":18860062378,"venues":50,"reserves":222},{"asset_class":"other","supplied_usd":18304568460,"venues":56,"reserves":454},{"asset_class":"ether","supplied_usd":9023771063,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8220298442,"venues":52,"reserves":107}]},{"date":"2026-03-03","debt_usd":19417869698,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":18683344944,"venues":50,"reserves":222},{"asset_class":"other","supplied_usd":17754833549,"venues":56,"reserves":453},{"asset_class":"ether","supplied_usd":8690459810,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8199885271,"venues":52,"reserves":107}]},{"date":"2026-03-04","debt_usd":19867102181,"venues":59,"basket":[{"asset_class":"other","supplied_usd":18573260390,"venues":56,"reserves":454},{"asset_class":"dollar","supplied_usd":18392997163,"venues":50,"reserves":223},{"asset_class":"ether","supplied_usd":9287116857,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8704734579,"venues":52,"reserves":107}]},{"date":"2026-03-05","debt_usd":19360180383,"venues":58,"basket":[{"asset_class":"other","supplied_usd":18171334131,"venues":55,"reserves":449},{"asset_class":"dollar","supplied_usd":18043774093,"venues":49,"reserves":221},{"asset_class":"ether","supplied_usd":9057971580,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8476473827,"venues":49,"reserves":104}]},{"date":"2026-03-06","debt_usd":18792603352,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":18050814820,"venues":50,"reserves":222},{"asset_class":"other","supplied_usd":17310772649,"venues":55,"reserves":449},{"asset_class":"ether","supplied_usd":8650045030,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8105591912,"venues":50,"reserves":105}]},{"date":"2026-03-07","debt_usd":18656025258,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":18352605330,"venues":50,"reserves":222},{"asset_class":"other","supplied_usd":17129699178,"venues":55,"reserves":449},{"asset_class":"ether","supplied_usd":8552197026,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":7969725261,"venues":50,"reserves":105}]},{"date":"2026-03-08","debt_usd":18557861080,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":18352160191,"venues":50,"reserves":221},{"asset_class":"other","supplied_usd":16957141640,"venues":55,"reserves":450},{"asset_class":"ether","supplied_usd":8450381367,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":7844167854,"venues":50,"reserves":105}]},{"date":"2026-03-09","debt_usd":18804952040,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":18237530722,"venues":50,"reserves":221},{"asset_class":"other","supplied_usd":17409873088,"venues":55,"reserves":450},{"asset_class":"ether","supplied_usd":8728258999,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8135384172,"venues":50,"reserves":105}]},{"date":"2026-03-10","debt_usd":18971601820,"venues":59,"basket":[{"asset_class":"dollar","supplied_usd":18085281467,"venues":50,"reserves":220},{"asset_class":"other","supplied_usd":17573307534,"venues":55,"reserves":450},{"asset_class":"ether","supplied_usd":8795335256,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":8311012211,"venues":50,"reserves":105}]},{"date":"2026-03-11","debt_usd":19235110122,"venues":61,"basket":[{"asset_class":"dollar","supplied_usd":18151586769,"venues":52,"reserves":227},{"asset_class":"other","supplied_usd":17825259279,"venues":57,"reserves":462},{"asset_class":"ether","supplied_usd":8926860795,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8364689194,"venues":50,"reserves":105}]},{"date":"2026-03-12","debt_usd":19269334946,"venues":61,"basket":[{"asset_class":"dollar","supplied_usd":18134754412,"venues":52,"reserves":227},{"asset_class":"other","supplied_usd":17845880149,"venues":57,"reserves":462},{"asset_class":"ether","supplied_usd":8924782518,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8312767912,"venues":50,"reserves":105}]},{"date":"2026-03-13","debt_usd":19322982380,"venues":62,"basket":[{"asset_class":"other","supplied_usd":18119732377,"venues":58,"reserves":471},{"asset_class":"dollar","supplied_usd":17978716791,"venues":53,"reserves":231},{"asset_class":"ether","supplied_usd":8992603015,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8370661372,"venues":51,"reserves":106}]},{"date":"2026-03-14","debt_usd":19209077228,"venues":62,"basket":[{"asset_class":"other","supplied_usd":18007741354,"venues":58,"reserves":471},{"asset_class":"dollar","supplied_usd":17954163907,"venues":53,"reserves":231},{"asset_class":"ether","supplied_usd":8993204689,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8351781618,"venues":51,"reserves":106}]},{"date":"2026-03-15","debt_usd":19536791943,"venues":62,"basket":[{"asset_class":"other","supplied_usd":18597038000,"venues":58,"reserves":471},{"asset_class":"dollar","supplied_usd":17855791797,"venues":53,"reserves":232},{"asset_class":"ether","supplied_usd":9387853748,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8547931192,"venues":51,"reserves":106}]},{"date":"2026-03-16","debt_usd":20135479917,"venues":62,"basket":[{"asset_class":"other","supplied_usd":19504344605,"venues":58,"reserves":471},{"asset_class":"dollar","supplied_usd":17749900333,"venues":53,"reserves":232},{"asset_class":"ether","supplied_usd":10115196397,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8759935101,"venues":51,"reserves":106}]},{"date":"2026-03-17","debt_usd":20165344795,"venues":62,"basket":[{"asset_class":"other","supplied_usd":19430548648,"venues":58,"reserves":471},{"asset_class":"dollar","supplied_usd":17719977208,"venues":53,"reserves":234},{"asset_class":"ether","supplied_usd":10018145713,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8728841781,"venues":51,"reserves":106}]},{"date":"2026-03-18","debt_usd":19757782972,"venues":63,"basket":[{"asset_class":"other","supplied_usd":18634087110,"venues":59,"reserves":471},{"asset_class":"dollar","supplied_usd":16828560622,"venues":54,"reserves":236},{"asset_class":"ether","supplied_usd":9422519810,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8377366073,"venues":51,"reserves":106}]},{"date":"2026-03-19","debt_usd":19459232810,"venues":63,"basket":[{"asset_class":"other","supplied_usd":18156782523,"venues":59,"reserves":472},{"asset_class":"dollar","supplied_usd":16712684512,"venues":54,"reserves":237},{"asset_class":"ether","supplied_usd":9256815367,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8175595918,"venues":50,"reserves":105}]},{"date":"2026-03-20","debt_usd":19424021413,"venues":63,"basket":[{"asset_class":"other","supplied_usd":18280795266,"venues":59,"reserves":472},{"asset_class":"dollar","supplied_usd":17165375767,"venues":54,"reserves":236},{"asset_class":"ether","supplied_usd":9369665782,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8206396707,"venues":51,"reserves":106}]},{"date":"2026-03-21","debt_usd":19412394907,"venues":63,"basket":[{"asset_class":"other","supplied_usd":18194128623,"venues":59,"reserves":472},{"asset_class":"dollar","supplied_usd":17465587943,"venues":54,"reserves":237},{"asset_class":"ether","supplied_usd":9346127191,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8160526775,"venues":51,"reserves":106}]},{"date":"2026-03-22","debt_usd":19059263055,"venues":63,"basket":[{"asset_class":"other","supplied_usd":17571845329,"venues":59,"reserves":472},{"asset_class":"dollar","supplied_usd":17511765437,"venues":54,"reserves":237},{"asset_class":"ether","supplied_usd":8963790783,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":7921658162,"venues":51,"reserves":106}]},{"date":"2026-03-23","debt_usd":19414986995,"venues":64,"basket":[{"asset_class":"other","supplied_usd":18109630072,"venues":60,"reserves":483},{"asset_class":"dollar","supplied_usd":17328172528,"venues":55,"reserves":236},{"asset_class":"ether","supplied_usd":9343437860,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8192220680,"venues":53,"reserves":108}]},{"date":"2026-03-24","debt_usd":19406239323,"venues":64,"basket":[{"asset_class":"other","supplied_usd":18184366859,"venues":60,"reserves":483},{"asset_class":"dollar","supplied_usd":17180394895,"venues":55,"reserves":237},{"asset_class":"ether","supplied_usd":9330865566,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8174527683,"venues":53,"reserves":108}]},{"date":"2026-03-25","debt_usd":19495702887,"venues":64,"basket":[{"asset_class":"other","supplied_usd":18160161153,"venues":60,"reserves":483},{"asset_class":"dollar","supplied_usd":17183939122,"venues":55,"reserves":236},{"asset_class":"ether","supplied_usd":9393044997,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8291561503,"venues":53,"reserves":108}]},{"date":"2026-03-26","debt_usd":19162140135,"venues":64,"basket":[{"asset_class":"other","supplied_usd":17485261048,"venues":60,"reserves":484},{"asset_class":"dollar","supplied_usd":17181914594,"venues":55,"reserves":236},{"asset_class":"ether","supplied_usd":8922325200,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":8004143456,"venues":52,"reserves":107}]},{"date":"2026-03-27","debt_usd":18876288172,"venues":64,"basket":[{"asset_class":"dollar","supplied_usd":17069068890,"venues":55,"reserves":235},{"asset_class":"other","supplied_usd":16799560192,"venues":60,"reserves":483},{"asset_class":"ether","supplied_usd":8653450211,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":7689434158,"venues":53,"reserves":108}]},{"date":"2026-03-28","debt_usd":18944643428,"venues":64,"basket":[{"asset_class":"dollar","supplied_usd":17064599644,"venues":55,"reserves":235},{"asset_class":"other","supplied_usd":16874723712,"venues":60,"reserves":481},{"asset_class":"ether","supplied_usd":8769353384,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":7769437062,"venues":53,"reserves":108}]},{"date":"2026-03-29","debt_usd":18830713087,"venues":64,"basket":[{"asset_class":"dollar","supplied_usd":17017511491,"venues":56,"reserves":236},{"asset_class":"other","supplied_usd":16628719199,"venues":60,"reserves":481},{"asset_class":"ether","supplied_usd":8595879162,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":7671146358,"venues":54,"reserves":109}]},{"date":"2026-03-30","debt_usd":19040434313,"venues":64,"basket":[{"asset_class":"other","supplied_usd":17086352275,"venues":60,"reserves":482},{"asset_class":"dollar","supplied_usd":16832535759,"venues":56,"reserves":238},{"asset_class":"ether","supplied_usd":8867445812,"venues":40,"reserves":54},{"asset_class":"bitcoin","supplied_usd":7531106639,"venues":54,"reserves":110}]},{"date":"2026-03-31","debt_usd":19981854833,"venues":66,"basket":[{"asset_class":"other","supplied_usd":17841786094,"venues":62,"reserves":486},{"asset_class":"dollar","supplied_usd":17512315291,"venues":58,"reserves":243},{"asset_class":"ether","supplied_usd":9275552721,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":7953769624,"venues":56,"reserves":111}]},{"date":"2026-04-01","debt_usd":20161822193,"venues":66,"basket":[{"asset_class":"other","supplied_usd":18063045005,"venues":62,"reserves":485},{"asset_class":"dollar","supplied_usd":17404286012,"venues":58,"reserves":242},{"asset_class":"ether","supplied_usd":9463344921,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":7930131196,"venues":56,"reserves":111}]},{"date":"2026-04-02","debt_usd":19894738306,"venues":66,"basket":[{"asset_class":"other","supplied_usd":17824558842,"venues":62,"reserves":486},{"asset_class":"dollar","supplied_usd":17405382896,"venues":58,"reserves":242},{"asset_class":"ether","supplied_usd":9102373029,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":7779369870,"venues":57,"reserves":112}]},{"date":"2026-04-03","debt_usd":19817852860,"venues":66,"basket":[{"asset_class":"other","supplied_usd":17833968989,"venues":62,"reserves":486},{"asset_class":"dollar","supplied_usd":17618108201,"venues":57,"reserves":239},{"asset_class":"ether","supplied_usd":9110128541,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":7789358168,"venues":57,"reserves":112}]},{"date":"2026-04-04","debt_usd":19887265053,"venues":66,"basket":[{"asset_class":"other","supplied_usd":17929100654,"venues":62,"reserves":485},{"asset_class":"dollar","supplied_usd":17589919310,"venues":57,"reserves":239},{"asset_class":"ether","supplied_usd":9170530840,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":7842456886,"venues":57,"reserves":112}]},{"date":"2026-04-05","debt_usd":19980089962,"venues":66,"basket":[{"asset_class":"other","supplied_usd":18013833631,"venues":62,"reserves":484},{"asset_class":"dollar","supplied_usd":17618280262,"venues":58,"reserves":239},{"asset_class":"ether","supplied_usd":9175657058,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":7931967228,"venues":56,"reserves":112}]},{"date":"2026-04-06","debt_usd":20049145300,"venues":66,"basket":[{"asset_class":"other","supplied_usd":18254128761,"venues":62,"reserves":486},{"asset_class":"dollar","supplied_usd":17474884026,"venues":57,"reserves":238},{"asset_class":"ether","supplied_usd":9330086662,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":7975052057,"venues":56,"reserves":112}]},{"date":"2026-04-07","debt_usd":20453930593,"venues":66,"basket":[{"asset_class":"other","supplied_usd":18895982009,"venues":62,"reserves":485},{"asset_class":"dollar","supplied_usd":17363661999,"venues":57,"reserves":238},{"asset_class":"ether","supplied_usd":9624874536,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":8214160328,"venues":56,"reserves":112}]},{"date":"2026-04-08","debt_usd":20398555744,"venues":66,"basket":[{"asset_class":"other","supplied_usd":18898205863,"venues":62,"reserves":486},{"asset_class":"dollar","supplied_usd":17196533675,"venues":57,"reserves":239},{"asset_class":"ether","supplied_usd":9549913679,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":8159283054,"venues":56,"reserves":112}]},{"date":"2026-04-09","debt_usd":20437810007,"venues":66,"basket":[{"asset_class":"other","supplied_usd":19000747067,"venues":62,"reserves":487},{"asset_class":"dollar","supplied_usd":17198174328,"venues":57,"reserves":239},{"asset_class":"ether","supplied_usd":9613585819,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":8256554043,"venues":56,"reserves":112}]},{"date":"2026-04-10","debt_usd":20572975362,"venues":66,"basket":[{"asset_class":"other","supplied_usd":19155074277,"venues":62,"reserves":488},{"asset_class":"dollar","supplied_usd":17197016539,"venues":57,"reserves":240},{"asset_class":"ether","supplied_usd":9886540402,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":8300872322,"venues":56,"reserves":111}]},{"date":"2026-04-11","debt_usd":20724228280,"venues":66,"basket":[{"asset_class":"other","supplied_usd":19384910509,"venues":62,"reserves":488},{"asset_class":"dollar","supplied_usd":17207984989,"venues":57,"reserves":240},{"asset_class":"ether","supplied_usd":10103021531,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":8356247589,"venues":56,"reserves":111}]},{"date":"2026-04-12","debt_usd":20336969717,"venues":66,"basket":[{"asset_class":"other","supplied_usd":18764702548,"venues":62,"reserves":488},{"asset_class":"dollar","supplied_usd":17335675931,"venues":57,"reserves":238},{"asset_class":"ether","supplied_usd":9665175596,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":8065191862,"venues":56,"reserves":111}]},{"date":"2026-04-13","debt_usd":21009704957,"venues":66,"basket":[{"asset_class":"other","supplied_usd":19870877135,"venues":62,"reserves":487},{"asset_class":"dollar","supplied_usd":17124360681,"venues":57,"reserves":238},{"asset_class":"ether","supplied_usd":10295014765,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":8496717122,"venues":56,"reserves":111}]},{"date":"2026-04-14","debt_usd":21090453530,"venues":67,"basket":[{"asset_class":"other","supplied_usd":20024647628,"venues":63,"reserves":488},{"asset_class":"dollar","supplied_usd":17005431989,"venues":57,"reserves":239},{"asset_class":"ether","supplied_usd":10121540690,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":8443716801,"venues":56,"reserves":111}]},{"date":"2026-04-15","debt_usd":21440677125,"venues":67,"basket":[{"asset_class":"other","supplied_usd":20396499603,"venues":63,"reserves":488},{"asset_class":"dollar","supplied_usd":16831425347,"venues":57,"reserves":239},{"asset_class":"ether","supplied_usd":10393898964,"venues":41,"reserves":55},{"asset_class":"bitcoin","supplied_usd":8576877544,"venues":57,"reserves":112}]},{"date":"2026-04-16","debt_usd":21336753454,"venues":68,"basket":[{"asset_class":"other","supplied_usd":20058577784,"venues":64,"reserves":493},{"asset_class":"dollar","supplied_usd":16720500507,"venues":58,"reserves":244},{"asset_class":"ether","supplied_usd":10366313737,"venues":41,"reserves":55},{"asset_class":"bitcoin","supplied_usd":8553874764,"venues":56,"reserves":111}]},{"date":"2026-04-17","debt_usd":21643366468,"venues":68,"basket":[{"asset_class":"other","supplied_usd":20494689864,"venues":64,"reserves":493},{"asset_class":"dollar","supplied_usd":16850316885,"venues":58,"reserves":246},{"asset_class":"ether","supplied_usd":10803447584,"venues":42,"reserves":56},{"asset_class":"bitcoin","supplied_usd":8834911371,"venues":56,"reserves":111}]},{"date":"2026-04-18","debt_usd":21096361213,"venues":68,"basket":[{"asset_class":"other","supplied_usd":19617314874,"venues":64,"reserves":492},{"asset_class":"dollar","supplied_usd":14932148042,"venues":58,"reserves":246},{"asset_class":"ether","supplied_usd":9625582355,"venues":41,"reserves":55},{"asset_class":"bitcoin","supplied_usd":7991566771,"venues":55,"reserves":110}]},{"date":"2026-04-19","debt_usd":13391865341,"venues":68,"basket":[{"asset_class":"other","supplied_usd":18041191377,"venues":64,"reserves":492},{"asset_class":"dollar","supplied_usd":12207247596,"venues":58,"reserves":242},{"asset_class":"bitcoin","supplied_usd":7129180389,"venues":55,"reserves":110},{"asset_class":"ether","supplied_usd":2677598719,"venues":38,"reserves":51}]},{"date":"2026-04-20","debt_usd":12458029442,"venues":68,"basket":[{"asset_class":"other","supplied_usd":17404387943,"venues":64,"reserves":493},{"asset_class":"dollar","supplied_usd":11454357014,"venues":58,"reserves":237},{"asset_class":"bitcoin","supplied_usd":7120522662,"venues":56,"reserves":111},{"asset_class":"ether","supplied_usd":2348509160,"venues":36,"reserves":48}]},{"date":"2026-04-21","debt_usd":11736736138,"venues":68,"basket":[{"asset_class":"other","supplied_usd":16619002349,"venues":64,"reserves":493},{"asset_class":"dollar","supplied_usd":10785566553,"venues":58,"reserves":235},{"asset_class":"bitcoin","supplied_usd":7021588952,"venues":56,"reserves":111},{"asset_class":"ether","supplied_usd":2435868430,"venues":37,"reserves":50}]},{"date":"2026-04-22","debt_usd":17341016021,"venues":68,"basket":[{"asset_class":"other","supplied_usd":16780000077,"venues":64,"reserves":493},{"asset_class":"dollar","supplied_usd":10792242706,"venues":58,"reserves":240},{"asset_class":"ether","supplied_usd":8210161285,"venues":37,"reserves":50},{"asset_class":"bitcoin","supplied_usd":7269313591,"venues":55,"reserves":110}]},{"date":"2026-04-23","debt_usd":17048423006,"venues":68,"basket":[{"asset_class":"other","supplied_usd":16351712137,"venues":64,"reserves":505},{"asset_class":"dollar","supplied_usd":10686529323,"venues":59,"reserves":266},{"asset_class":"ether","supplied_usd":7843634434,"venues":38,"reserves":52},{"asset_class":"bitcoin","supplied_usd":7147666317,"venues":60,"reserves":117}]},{"date":"2026-04-24","debt_usd":16570729821,"venues":68,"basket":[{"asset_class":"other","supplied_usd":15971055520,"venues":64,"reserves":504},{"asset_class":"dollar","supplied_usd":10788903191,"venues":59,"reserves":266},{"asset_class":"ether","supplied_usd":7705422795,"venues":38,"reserves":52},{"asset_class":"bitcoin","supplied_usd":7064781187,"venues":60,"reserves":117}]},{"date":"2026-04-25","debt_usd":16491646939,"venues":68,"basket":[{"asset_class":"other","supplied_usd":15928604458,"venues":64,"reserves":503},{"asset_class":"dollar","supplied_usd":10788587927,"venues":59,"reserves":266},{"asset_class":"ether","supplied_usd":7640968054,"venues":38,"reserves":52},{"asset_class":"bitcoin","supplied_usd":7081031889,"venues":60,"reserves":117}]},{"date":"2026-04-26","debt_usd":16558007750,"venues":68,"basket":[{"asset_class":"other","supplied_usd":16130053905,"venues":64,"reserves":503},{"asset_class":"dollar","supplied_usd":10795545656,"venues":59,"reserves":266},{"asset_class":"ether","supplied_usd":7754733534,"venues":38,"reserves":52},{"asset_class":"bitcoin","supplied_usd":7126529514,"venues":60,"reserves":117}]},{"date":"2026-04-27","debt_usd":16413836497,"venues":68,"basket":[{"asset_class":"other","supplied_usd":15749322383,"venues":64,"reserves":503},{"asset_class":"dollar","supplied_usd":10544710917,"venues":59,"reserves":267},{"asset_class":"ether","supplied_usd":7742499429,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":6928552306,"venues":60,"reserves":117}]},{"date":"2026-04-28","debt_usd":16157014751,"venues":68,"basket":[{"asset_class":"other","supplied_usd":15572619327,"venues":64,"reserves":503},{"asset_class":"dollar","supplied_usd":10729695117,"venues":59,"reserves":267},{"asset_class":"ether","supplied_usd":7468338950,"venues":38,"reserves":52},{"asset_class":"bitcoin","supplied_usd":6857218126,"venues":60,"reserves":117}]},{"date":"2026-04-29","debt_usd":15988183001,"venues":68,"basket":[{"asset_class":"other","supplied_usd":15346834618,"venues":64,"reserves":503},{"asset_class":"dollar","supplied_usd":10795486270,"venues":59,"reserves":267},{"asset_class":"ether","supplied_usd":7352637203,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":6823183525,"venues":60,"reserves":117}]},{"date":"2026-04-30","debt_usd":16005934046,"venues":68,"basket":[{"asset_class":"other","supplied_usd":15256328608,"venues":64,"reserves":503},{"asset_class":"dollar","supplied_usd":11063714061,"venues":59,"reserves":268},{"asset_class":"ether","supplied_usd":7395792087,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":6875261927,"venues":60,"reserves":117}]},{"date":"2026-05-01","debt_usd":16082370308,"venues":68,"basket":[{"asset_class":"other","supplied_usd":15332898148,"venues":64,"reserves":502},{"asset_class":"dollar","supplied_usd":11274309006,"venues":59,"reserves":268},{"asset_class":"ether","supplied_usd":7514153140,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":7008210813,"venues":60,"reserves":117}]},{"date":"2026-05-02","debt_usd":16187749017,"venues":68,"basket":[{"asset_class":"other","supplied_usd":15560574603,"venues":64,"reserves":502},{"asset_class":"dollar","supplied_usd":11358753654,"venues":59,"reserves":268},{"asset_class":"ether","supplied_usd":7629260716,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":7039056110,"venues":60,"reserves":117}]},{"date":"2026-05-03","debt_usd":16228315039,"venues":68,"basket":[{"asset_class":"other","supplied_usd":15628604920,"venues":64,"reserves":501},{"asset_class":"dollar","supplied_usd":11372617113,"venues":59,"reserves":268},{"asset_class":"ether","supplied_usd":7592148009,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":7082090756,"venues":60,"reserves":117}]},{"date":"2026-05-04","debt_usd":16282679155,"venues":68,"basket":[{"asset_class":"other","supplied_usd":15677874587,"venues":64,"reserves":502},{"asset_class":"dollar","supplied_usd":11408828009,"venues":59,"reserves":268},{"asset_class":"ether","supplied_usd":7657131970,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":7158857794,"venues":60,"reserves":117}]},{"date":"2026-05-05","debt_usd":16261261384,"venues":68,"basket":[{"asset_class":"other","supplied_usd":15760191730,"venues":64,"reserves":502},{"asset_class":"dollar","supplied_usd":11378566057,"venues":59,"reserves":269},{"asset_class":"ether","supplied_usd":7655938733,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":7236238720,"venues":60,"reserves":117}]},{"date":"2026-05-06","debt_usd":16200557452,"venues":68,"basket":[{"asset_class":"other","supplied_usd":15628721515,"venues":64,"reserves":502},{"asset_class":"dollar","supplied_usd":11555808358,"venues":59,"reserves":269},{"asset_class":"ether","supplied_usd":7606839437,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":7217403335,"venues":60,"reserves":117}]},{"date":"2026-05-07","debt_usd":15916508011,"venues":69,"basket":[{"asset_class":"other","supplied_usd":15201601125,"venues":65,"reserves":505},{"asset_class":"dollar","supplied_usd":11630184972,"venues":60,"reserves":271},{"asset_class":"ether","supplied_usd":7415368555,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":7079126744,"venues":61,"reserves":118}]},{"date":"2026-05-08","debt_usd":16077827039,"venues":69,"basket":[{"asset_class":"other","supplied_usd":15285672102,"venues":65,"reserves":504},{"asset_class":"dollar","supplied_usd":11630026424,"venues":60,"reserves":272},{"asset_class":"ether","supplied_usd":7444919370,"venues":39,"reserves":53},{"asset_class":"bitcoin","supplied_usd":7430514097,"venues":61,"reserves":118}]},{"date":"2026-05-09","debt_usd":16017160946,"venues":69,"basket":[{"asset_class":"other","supplied_usd":15136377558,"venues":65,"reserves":504},{"asset_class":"dollar","supplied_usd":11751578659,"venues":60,"reserves":272},{"asset_class":"bitcoin","supplied_usd":7500541546,"venues":61,"reserves":118},{"asset_class":"ether","supplied_usd":7489464282,"venues":39,"reserves":52}]},{"date":"2026-05-10","debt_usd":16615123694,"venues":69,"basket":[{"asset_class":"other","supplied_usd":15234257311,"venues":65,"reserves":504},{"asset_class":"dollar","supplied_usd":11810232354,"venues":60,"reserves":272},{"asset_class":"ether","supplied_usd":8214304561,"venues":43,"reserves":56},{"asset_class":"bitcoin","supplied_usd":7611940512,"venues":61,"reserves":118}]},{"date":"2026-05-11","debt_usd":16340850654,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14861304640,"venues":65,"reserves":506},{"asset_class":"dollar","supplied_usd":11793318414,"venues":60,"reserves":272},{"asset_class":"ether","supplied_usd":8112066639,"venues":43,"reserves":57},{"asset_class":"bitcoin","supplied_usd":7672556457,"venues":61,"reserves":118}]},{"date":"2026-05-12","debt_usd":16119524916,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14451945721,"venues":65,"reserves":507},{"asset_class":"dollar","supplied_usd":11807526550,"venues":60,"reserves":272},{"asset_class":"ether","supplied_usd":7897635769,"venues":43,"reserves":58},{"asset_class":"bitcoin","supplied_usd":7506990305,"venues":61,"reserves":118}]},{"date":"2026-05-13","debt_usd":16085965038,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14288879410,"venues":65,"reserves":507},{"asset_class":"dollar","supplied_usd":11886665474,"venues":60,"reserves":272},{"asset_class":"ether","supplied_usd":7798463559,"venues":43,"reserves":58},{"asset_class":"bitcoin","supplied_usd":7408578868,"venues":61,"reserves":118}]},{"date":"2026-05-14","debt_usd":16161554094,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14554977827,"venues":65,"reserves":507},{"asset_class":"dollar","supplied_usd":11878431588,"venues":60,"reserves":272},{"asset_class":"ether","supplied_usd":7762063587,"venues":43,"reserves":57},{"asset_class":"bitcoin","supplied_usd":7605893314,"venues":61,"reserves":118}]},{"date":"2026-05-15","debt_usd":15807318753,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14136823325,"venues":65,"reserves":506},{"asset_class":"dollar","supplied_usd":11796968748,"venues":60,"reserves":272},{"asset_class":"ether","supplied_usd":7454447876,"venues":43,"reserves":57},{"asset_class":"bitcoin","supplied_usd":7368187580,"venues":61,"reserves":118}]},{"date":"2026-05-16","debt_usd":15657208059,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13866877122,"venues":65,"reserves":507},{"asset_class":"dollar","supplied_usd":11873243879,"venues":60,"reserves":272},{"asset_class":"ether","supplied_usd":7295362143,"venues":43,"reserves":57},{"asset_class":"bitcoin","supplied_usd":7277631359,"venues":61,"reserves":118}]},{"date":"2026-05-17","debt_usd":15572033496,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13856106852,"venues":65,"reserves":509},{"asset_class":"dollar","supplied_usd":11845971587,"venues":60,"reserves":272},{"asset_class":"ether","supplied_usd":7289198298,"venues":43,"reserves":58},{"asset_class":"bitcoin","supplied_usd":7198297540,"venues":61,"reserves":119}]},{"date":"2026-05-18","debt_usd":15513723544,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13628737711,"venues":65,"reserves":509},{"asset_class":"dollar","supplied_usd":11956949323,"venues":60,"reserves":272},{"asset_class":"bitcoin","supplied_usd":7207648685,"venues":61,"reserves":119},{"asset_class":"ether","supplied_usd":7165280097,"venues":43,"reserves":58}]},{"date":"2026-05-19","debt_usd":15640746905,"venues":67,"basket":[{"asset_class":"other","supplied_usd":13408628338,"venues":63,"reserves":494},{"asset_class":"dollar","supplied_usd":12441846653,"venues":58,"reserves":268},{"asset_class":"bitcoin","supplied_usd":7166916933,"venues":59,"reserves":115},{"asset_class":"ether","supplied_usd":7112083949,"venues":41,"reserves":56}]},{"date":"2026-05-20","debt_usd":15810543125,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13669754681,"venues":65,"reserves":510},{"asset_class":"dollar","supplied_usd":12453057606,"venues":60,"reserves":273},{"asset_class":"bitcoin","supplied_usd":7252979083,"venues":61,"reserves":119},{"asset_class":"ether","supplied_usd":7150887749,"venues":43,"reserves":58}]},{"date":"2026-05-21","debt_usd":15731115373,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13757953564,"venues":65,"reserves":510},{"asset_class":"dollar","supplied_usd":12582070944,"venues":60,"reserves":273},{"asset_class":"bitcoin","supplied_usd":7286113673,"venues":61,"reserves":119},{"asset_class":"ether","supplied_usd":7250528965,"venues":43,"reserves":58}]},{"date":"2026-05-22","debt_usd":15513866485,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13451916546,"venues":65,"reserves":510},{"asset_class":"dollar","supplied_usd":12534442003,"venues":60,"reserves":274},{"asset_class":"bitcoin","supplied_usd":7108028846,"venues":61,"reserves":119},{"asset_class":"ether","supplied_usd":6967332111,"venues":43,"reserves":58}]},{"date":"2026-05-23","debt_usd":15600852477,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13655871483,"venues":65,"reserves":509},{"asset_class":"dollar","supplied_usd":12596505274,"venues":60,"reserves":273},{"asset_class":"bitcoin","supplied_usd":7190225639,"venues":61,"reserves":119},{"asset_class":"ether","supplied_usd":7129613248,"venues":43,"reserves":58}]},{"date":"2026-05-24","debt_usd":15587097003,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13631563493,"venues":65,"reserves":509},{"asset_class":"dollar","supplied_usd":12665071244,"venues":60,"reserves":273},{"asset_class":"bitcoin","supplied_usd":7239563243,"venues":61,"reserves":119},{"asset_class":"ether","supplied_usd":7049346745,"venues":43,"reserves":58}]},{"date":"2026-05-25","debt_usd":15617835562,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13662672464,"venues":65,"reserves":510},{"asset_class":"dollar","supplied_usd":12715403365,"venues":60,"reserves":274},{"asset_class":"bitcoin","supplied_usd":7239248699,"venues":61,"reserves":119},{"asset_class":"ether","supplied_usd":7112378793,"venues":43,"reserves":58}]},{"date":"2026-05-26","debt_usd":15367368650,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13443719938,"venues":65,"reserves":509},{"asset_class":"dollar","supplied_usd":12630796402,"venues":60,"reserves":275},{"asset_class":"bitcoin","supplied_usd":7029320222,"venues":61,"reserves":119},{"asset_class":"ether","supplied_usd":6920808063,"venues":43,"reserves":58}]},{"date":"2026-05-27","debt_usd":15274738669,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13209790249,"venues":65,"reserves":509},{"asset_class":"dollar","supplied_usd":12667880103,"venues":60,"reserves":275},{"asset_class":"bitcoin","supplied_usd":6973874444,"venues":61,"reserves":119},{"asset_class":"ether","supplied_usd":6816724131,"venues":43,"reserves":58}]},{"date":"2026-05-28","debt_usd":15249686230,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13191005527,"venues":65,"reserves":509},{"asset_class":"dollar","supplied_usd":12663386035,"venues":60,"reserves":273},{"asset_class":"bitcoin","supplied_usd":6964829241,"venues":61,"reserves":119},{"asset_class":"ether","supplied_usd":6794583106,"venues":43,"reserves":58}]},{"date":"2026-05-29","debt_usd":15281106985,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13253124289,"venues":65,"reserves":510},{"asset_class":"dollar","supplied_usd":12744160117,"venues":60,"reserves":273},{"asset_class":"bitcoin","supplied_usd":7104785008,"venues":61,"reserves":119},{"asset_class":"ether","supplied_usd":6921044296,"venues":43,"reserves":58}]},{"date":"2026-05-30","debt_usd":15269360892,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13404644422,"venues":65,"reserves":508},{"asset_class":"dollar","supplied_usd":12632100267,"venues":60,"reserves":273},{"asset_class":"bitcoin","supplied_usd":7168813961,"venues":61,"reserves":119},{"asset_class":"ether","supplied_usd":6920630180,"venues":43,"reserves":58}]},{"date":"2026-05-31","debt_usd":15247953217,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13469295566,"venues":65,"reserves":512},{"asset_class":"dollar","supplied_usd":12707285513,"venues":60,"reserves":275},{"asset_class":"bitcoin","supplied_usd":7187859074,"venues":61,"reserves":119},{"asset_class":"ether","supplied_usd":6872189545,"venues":43,"reserves":58}]},{"date":"2026-06-01","debt_usd":15738746395,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13995336064,"venues":65,"reserves":554},{"asset_class":"dollar","supplied_usd":13446079129,"venues":60,"reserves":313},{"asset_class":"bitcoin","supplied_usd":6900000341,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":6816968780,"venues":43,"reserves":58}]},{"date":"2026-06-02","debt_usd":15473622717,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13500516444,"venues":60,"reserves":319},{"asset_class":"other","supplied_usd":13374163326,"venues":65,"reserves":553},{"asset_class":"bitcoin","supplied_usd":6502205639,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":6381047531,"venues":43,"reserves":59}]},{"date":"2026-06-03","debt_usd":15364153415,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13539665496,"venues":60,"reserves":319},{"asset_class":"other","supplied_usd":13424827042,"venues":65,"reserves":560},{"asset_class":"bitcoin","supplied_usd":6384984694,"venues":62,"reserves":124},{"asset_class":"ether","supplied_usd":6185495972,"venues":43,"reserves":60}]},{"date":"2026-06-04","debt_usd":15048382334,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13249335575,"venues":60,"reserves":319},{"asset_class":"other","supplied_usd":13066099994,"venues":65,"reserves":560},{"asset_class":"bitcoin","supplied_usd":6213007422,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":6049873126,"venues":43,"reserves":60}]},{"date":"2026-06-05","debt_usd":14358977358,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":12994013562,"venues":60,"reserves":320},{"asset_class":"other","supplied_usd":12204332072,"venues":65,"reserves":567},{"asset_class":"bitcoin","supplied_usd":5899642852,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5526367578,"venues":43,"reserves":60}]},{"date":"2026-06-06","debt_usd":14245907754,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13061279703,"venues":60,"reserves":321},{"asset_class":"other","supplied_usd":12122516129,"venues":65,"reserves":569},{"asset_class":"bitcoin","supplied_usd":5802772371,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5385590397,"venues":43,"reserves":60}]},{"date":"2026-06-07","debt_usd":14593821141,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13085528878,"venues":60,"reserves":320},{"asset_class":"other","supplied_usd":12771917382,"venues":65,"reserves":569},{"asset_class":"bitcoin","supplied_usd":6036709432,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5798742055,"venues":42,"reserves":59}]},{"date":"2026-06-08","debt_usd":14762987388,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13174564599,"venues":60,"reserves":318},{"asset_class":"other","supplied_usd":12952027168,"venues":65,"reserves":569},{"asset_class":"bitcoin","supplied_usd":6068609279,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5895815860,"venues":43,"reserves":60}]},{"date":"2026-06-09","debt_usd":14491523445,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13077130748,"venues":60,"reserves":318},{"asset_class":"other","supplied_usd":12486000406,"venues":65,"reserves":569},{"asset_class":"bitcoin","supplied_usd":5907947259,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5681941320,"venues":43,"reserves":60}]},{"date":"2026-06-10","debt_usd":14420017038,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13096936819,"venues":60,"reserves":320},{"asset_class":"other","supplied_usd":12324187201,"venues":65,"reserves":571},{"asset_class":"bitcoin","supplied_usd":5845802644,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5607922358,"venues":43,"reserves":60}]},{"date":"2026-06-11","debt_usd":14640661989,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13133863320,"venues":60,"reserves":319},{"asset_class":"other","supplied_usd":12713942676,"venues":65,"reserves":574},{"asset_class":"bitcoin","supplied_usd":6075246050,"venues":61,"reserves":122},{"asset_class":"ether","supplied_usd":5834447805,"venues":43,"reserves":60}]},{"date":"2026-06-12","debt_usd":14551264654,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13071912888,"venues":60,"reserves":319},{"asset_class":"other","supplied_usd":12713079838,"venues":65,"reserves":572},{"asset_class":"bitcoin","supplied_usd":6024606173,"venues":61,"reserves":122},{"asset_class":"ether","supplied_usd":5765292970,"venues":43,"reserves":60}]},{"date":"2026-06-13","debt_usd":14595531017,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13042065498,"venues":60,"reserves":319},{"asset_class":"other","supplied_usd":12834298665,"venues":65,"reserves":573},{"asset_class":"bitcoin","supplied_usd":6136835302,"venues":61,"reserves":122},{"asset_class":"ether","supplied_usd":5823956742,"venues":43,"reserves":60}]},{"date":"2026-06-14","debt_usd":14846170831,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13184725938,"venues":65,"reserves":574},{"asset_class":"dollar","supplied_usd":13095208022,"venues":60,"reserves":319},{"asset_class":"bitcoin","supplied_usd":6235149872,"venues":61,"reserves":122},{"asset_class":"ether","supplied_usd":5932716573,"venues":43,"reserves":60}]},{"date":"2026-06-15","debt_usd":15096273104,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13538643971,"venues":65,"reserves":574},{"asset_class":"dollar","supplied_usd":13133668506,"venues":60,"reserves":319},{"asset_class":"bitcoin","supplied_usd":6288743950,"venues":62,"reserves":123},{"asset_class":"ether","supplied_usd":6177580282,"venues":43,"reserves":60}]},{"date":"2026-06-16","debt_usd":15079666474,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13596294363,"venues":66,"reserves":574},{"asset_class":"dollar","supplied_usd":13417513364,"venues":60,"reserves":319},{"asset_class":"bitcoin","supplied_usd":6218974675,"venues":61,"reserves":122},{"asset_class":"ether","supplied_usd":6188674867,"venues":43,"reserves":60}]},{"date":"2026-06-17","debt_usd":14965092261,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13451114840,"venues":60,"reserves":320},{"asset_class":"other","supplied_usd":13340937136,"venues":66,"reserves":574},{"asset_class":"bitcoin","supplied_usd":6106388696,"venues":61,"reserves":122},{"asset_class":"ether","supplied_usd":6016201371,"venues":43,"reserves":60}]},{"date":"2026-06-18","debt_usd":14875115031,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13458306924,"venues":60,"reserves":321},{"asset_class":"other","supplied_usd":13148685895,"venues":66,"reserves":575},{"asset_class":"bitcoin","supplied_usd":5971234673,"venues":61,"reserves":122},{"asset_class":"ether","supplied_usd":5890945648,"venues":43,"reserves":60}]},{"date":"2026-06-19","debt_usd":14893396040,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13470685668,"venues":60,"reserves":321},{"asset_class":"other","supplied_usd":13146225108,"venues":66,"reserves":575},{"asset_class":"bitcoin","supplied_usd":6061974038,"venues":61,"reserves":122},{"asset_class":"ether","supplied_usd":5880715232,"venues":43,"reserves":60}]},{"date":"2026-06-20","debt_usd":15013583095,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13507239199,"venues":60,"reserves":321},{"asset_class":"other","supplied_usd":13436243424,"venues":66,"reserves":578},{"asset_class":"bitcoin","supplied_usd":6169091335,"venues":61,"reserves":122},{"asset_class":"ether","supplied_usd":5997606368,"venues":43,"reserves":60}]},{"date":"2026-06-21","debt_usd":14941521621,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13540479606,"venues":60,"reserves":321},{"asset_class":"other","supplied_usd":13344035319,"venues":66,"reserves":576},{"asset_class":"bitcoin","supplied_usd":6120311715,"venues":61,"reserves":122},{"asset_class":"ether","supplied_usd":5893829096,"venues":43,"reserves":60}]},{"date":"2026-06-22","debt_usd":14945700341,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13553728190,"venues":60,"reserves":321},{"asset_class":"other","supplied_usd":13368648643,"venues":66,"reserves":578},{"asset_class":"bitcoin","supplied_usd":6154185459,"venues":60,"reserves":122},{"asset_class":"ether","supplied_usd":5941892919,"venues":43,"reserves":60}]},{"date":"2026-06-23","debt_usd":14750844069,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13468599996,"venues":60,"reserves":321},{"asset_class":"other","supplied_usd":13053202925,"venues":66,"reserves":580},{"asset_class":"bitcoin","supplied_usd":6026607824,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5729588468,"venues":43,"reserves":60}]},{"date":"2026-06-24","debt_usd":14612881878,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13407106934,"venues":60,"reserves":322},{"asset_class":"other","supplied_usd":12827830845,"venues":66,"reserves":581},{"asset_class":"bitcoin","supplied_usd":5875678553,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5567022697,"venues":43,"reserves":60}]},{"date":"2026-06-25","debt_usd":14547287969,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13418631742,"venues":60,"reserves":322},{"asset_class":"other","supplied_usd":12680285345,"venues":66,"reserves":581},{"asset_class":"bitcoin","supplied_usd":5853480396,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5519484345,"venues":43,"reserves":60}]},{"date":"2026-06-26","debt_usd":14659599462,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13461989508,"venues":60,"reserves":323},{"asset_class":"other","supplied_usd":12806891449,"venues":66,"reserves":581},{"asset_class":"bitcoin","supplied_usd":6001533465,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5577658504,"venues":43,"reserves":60}]},{"date":"2026-06-27","debt_usd":14663330381,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13455660554,"venues":60,"reserves":324},{"asset_class":"other","supplied_usd":12816098786,"venues":66,"reserves":582},{"asset_class":"bitcoin","supplied_usd":6027666467,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5576084945,"venues":43,"reserves":60}]},{"date":"2026-06-28","debt_usd":14585621466,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13456689738,"venues":60,"reserves":323},{"asset_class":"other","supplied_usd":12673640925,"venues":66,"reserves":582},{"asset_class":"bitcoin","supplied_usd":5924231363,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5510797989,"venues":43,"reserves":60}]},{"date":"2026-06-29","debt_usd":14784972767,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13373957466,"venues":60,"reserves":322},{"asset_class":"other","supplied_usd":13101420030,"venues":66,"reserves":581},{"asset_class":"bitcoin","supplied_usd":6060483833,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5693574624,"venues":43,"reserves":60}]},{"date":"2026-06-30","debt_usd":14601566130,"venues":69,"basket":[{"asset_class":"dollar","supplied_usd":13346738772,"venues":60,"reserves":321},{"asset_class":"other","supplied_usd":12780816749,"venues":66,"reserves":581},{"asset_class":"bitcoin","supplied_usd":5891262067,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5508854706,"venues":43,"reserves":60}]},{"date":"2026-07-01","debt_usd":14780510558,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13116766641,"venues":66,"reserves":582},{"asset_class":"dollar","supplied_usd":13075928356,"venues":60,"reserves":321},{"asset_class":"bitcoin","supplied_usd":6174472787,"venues":61,"reserves":123},{"asset_class":"ether","supplied_usd":5713573270,"venues":43,"reserves":60}]},{"date":"2026-07-02","debt_usd":14960829295,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13538364217,"venues":66,"reserves":584},{"asset_class":"dollar","supplied_usd":13214329514,"venues":60,"reserves":323},{"asset_class":"bitcoin","supplied_usd":6199881881,"venues":61,"reserves":122},{"asset_class":"ether","supplied_usd":5996314253,"venues":44,"reserves":61}]},{"date":"2026-07-03","debt_usd":15221746407,"venues":69,"basket":[{"asset_class":"other","supplied_usd":13899039199,"venues":66,"reserves":584},{"asset_class":"dollar","supplied_usd":13220037982,"venues":60,"reserves":323},{"asset_class":"bitcoin","supplied_usd":6360013543,"venues":62,"reserves":123},{"asset_class":"ether","supplied_usd":6210200484,"venues":44,"reserves":61}]},{"date":"2026-07-04","debt_usd":15306538682,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14002452900,"venues":66,"reserves":585},{"asset_class":"dollar","supplied_usd":13282759572,"venues":60,"reserves":324},{"asset_class":"bitcoin","supplied_usd":6413207250,"venues":62,"reserves":123},{"asset_class":"ether","supplied_usd":6307891924,"venues":44,"reserves":61}]},{"date":"2026-07-05","debt_usd":15340590056,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14076165904,"venues":66,"reserves":585},{"asset_class":"dollar","supplied_usd":13294735066,"venues":60,"reserves":324},{"asset_class":"bitcoin","supplied_usd":6450878382,"venues":63,"reserves":124},{"asset_class":"ether","supplied_usd":6334727423,"venues":44,"reserves":61}]},{"date":"2026-07-06","debt_usd":15389086170,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14197641027,"venues":67,"reserves":587},{"asset_class":"dollar","supplied_usd":13498335707,"venues":61,"reserves":327},{"asset_class":"bitcoin","supplied_usd":6499367868,"venues":63,"reserves":125},{"asset_class":"ether","supplied_usd":6403892330,"venues":44,"reserves":61}]},{"date":"2026-07-07","debt_usd":15253235781,"venues":70,"basket":[{"asset_class":"other","supplied_usd":13968421418,"venues":67,"reserves":587},{"asset_class":"dollar","supplied_usd":13234909924,"venues":61,"reserves":327},{"asset_class":"bitcoin","supplied_usd":6433238287,"venues":63,"reserves":125},{"asset_class":"ether","supplied_usd":6294246421,"venues":44,"reserves":61}]},{"date":"2026-07-08","debt_usd":15048183616,"venues":70,"basket":[{"asset_class":"other","supplied_usd":13738726989,"venues":67,"reserves":588},{"asset_class":"dollar","supplied_usd":13033530257,"venues":61,"reserves":325},{"asset_class":"bitcoin","supplied_usd":6298244179,"venues":63,"reserves":126},{"asset_class":"ether","supplied_usd":6166180060,"venues":44,"reserves":61}]},{"date":"2026-07-09","debt_usd":15020014032,"venues":70,"basket":[{"asset_class":"other","supplied_usd":13755723237,"venues":67,"reserves":583},{"asset_class":"dollar","supplied_usd":12784343013,"venues":61,"reserves":326},{"asset_class":"bitcoin","supplied_usd":6356646352,"venues":63,"reserves":126},{"asset_class":"ether","supplied_usd":6254868477,"venues":44,"reserves":61}]},{"date":"2026-07-10","debt_usd":15039762293,"venues":70,"basket":[{"asset_class":"other","supplied_usd":13968234403,"venues":67,"reserves":589},{"asset_class":"dollar","supplied_usd":12925509991,"venues":62,"reserves":330},{"asset_class":"bitcoin","supplied_usd":6453158563,"venues":63,"reserves":126},{"asset_class":"ether","supplied_usd":6430282047,"venues":44,"reserves":61}]},{"date":"2026-07-11","debt_usd":15079523718,"venues":70,"basket":[{"asset_class":"other","supplied_usd":13722148053,"venues":67,"reserves":590},{"asset_class":"dollar","supplied_usd":12718538018,"venues":62,"reserves":330},{"asset_class":"ether","supplied_usd":6487890356,"venues":44,"reserves":61},{"asset_class":"bitcoin","supplied_usd":6461312521,"venues":63,"reserves":126}]},{"date":"2026-07-12","debt_usd":15086233974,"venues":70,"basket":[{"asset_class":"other","supplied_usd":13709703070,"venues":67,"reserves":591},{"asset_class":"dollar","supplied_usd":12734319269,"venues":62,"reserves":330},{"asset_class":"ether","supplied_usd":6458202487,"venues":44,"reserves":61},{"asset_class":"bitcoin","supplied_usd":6418837267,"venues":63,"reserves":126}]},{"date":"2026-07-13","debt_usd":14877649432,"venues":70,"basket":[{"asset_class":"other","supplied_usd":13412386521,"venues":67,"reserves":592},{"asset_class":"dollar","supplied_usd":12620563071,"venues":62,"reserves":331},{"asset_class":"ether","supplied_usd":6370095810,"venues":44,"reserves":61},{"asset_class":"bitcoin","supplied_usd":6233916930,"venues":64,"reserves":127}]},{"date":"2026-07-14","debt_usd":15353556668,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14096057873,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":12833128276,"venues":62,"reserves":339},{"asset_class":"ether","supplied_usd":6737804278,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":6548313713,"venues":64,"reserves":128}]},{"date":"2026-07-15","debt_usd":15551630265,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14244765199,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13019600444,"venues":62,"reserves":340},{"asset_class":"ether","supplied_usd":6893530674,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":6488373667,"venues":64,"reserves":128}]},{"date":"2026-07-16","debt_usd":15425600839,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14029405054,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13010363510,"venues":62,"reserves":340},{"asset_class":"ether","supplied_usd":6703528103,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":6430989424,"venues":64,"reserves":128}]},{"date":"2026-07-17","debt_usd":15377243087,"venues":70,"basket":[{"asset_class":"other","supplied_usd":13914727439,"venues":67,"reserves":592},{"asset_class":"dollar","supplied_usd":13194446121,"venues":62,"reserves":341},{"asset_class":"ether","supplied_usd":6648961032,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6440733292,"venues":64,"reserves":128}]},{"date":"2026-07-18","debt_usd":15438794926,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14017954242,"venues":67,"reserves":592},{"asset_class":"dollar","supplied_usd":13165834953,"venues":62,"reserves":341},{"asset_class":"ether","supplied_usd":6752574108,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6521311963,"venues":64,"reserves":128}]},{"date":"2026-07-19","debt_usd":15480133432,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14086468970,"venues":67,"reserves":593},{"asset_class":"dollar","supplied_usd":13131346786,"venues":62,"reserves":341},{"asset_class":"ether","supplied_usd":6713909942,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6499672012,"venues":64,"reserves":128}]},{"date":"2026-07-20","debt_usd":15601819427,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14238219606,"venues":67,"reserves":595},{"asset_class":"dollar","supplied_usd":13161736363,"venues":62,"reserves":340},{"asset_class":"ether","supplied_usd":6837066627,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6585943815,"venues":65,"reserves":130}]},{"date":"2026-07-21","debt_usd":15800466100,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14428696943,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13186606155,"venues":62,"reserves":341},{"asset_class":"ether","supplied_usd":6921250167,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6727521734,"venues":65,"reserves":130}]},{"date":"2026-07-22","debt_usd":15912772449,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14605025524,"venues":67,"reserves":595},{"asset_class":"dollar","supplied_usd":13141254021,"venues":62,"reserves":342},{"asset_class":"ether","supplied_usd":6918554060,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6691852901,"venues":65,"reserves":130}]},{"date":"2026-07-23","debt_usd":15888585175,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14483808110,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13177890345,"venues":62,"reserves":343},{"asset_class":"ether","supplied_usd":6713364971,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6597009963,"venues":65,"reserves":130}]},{"date":"2026-07-24","debt_usd":15844643993,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14369898364,"venues":67,"reserves":597},{"asset_class":"dollar","supplied_usd":13266459470,"venues":62,"reserves":343},{"asset_class":"ether","supplied_usd":6655371999,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6532091574,"venues":65,"reserves":130}]},{"date":"2026-07-25","debt_usd":15887872745,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14461256233,"venues":67,"reserves":597},{"asset_class":"dollar","supplied_usd":13252534897,"venues":62,"reserves":344},{"asset_class":"ether","supplied_usd":6759309584,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6562160158,"venues":65,"reserves":130}]},{"date":"2026-07-26","debt_usd":16108532902,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14817505729,"venues":67,"reserves":597},{"asset_class":"dollar","supplied_usd":13253947748,"venues":62,"reserves":344},{"asset_class":"ether","supplied_usd":7081617513,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6670459632,"venues":65,"reserves":130}]},{"date":"2026-07-27","debt_usd":15922183458,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14491755987,"venues":67,"reserves":598},{"asset_class":"dollar","supplied_usd":13219756541,"venues":62,"reserves":344},{"asset_class":"ether","supplied_usd":6814312830,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6544306454,"venues":65,"reserves":130}]},{"date":"2026-07-28","debt_usd":15986340418,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14527439866,"venues":67,"reserves":599},{"asset_class":"dollar","supplied_usd":13295476414,"venues":62,"reserves":347},{"asset_class":"ether","supplied_usd":6842726044,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6570440303,"venues":65,"reserves":129}]},{"date":"2026-07-29","debt_usd":15964415077,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14447107397,"venues":67,"reserves":599},{"asset_class":"dollar","supplied_usd":13319588767,"venues":62,"reserves":347},{"asset_class":"ether","supplied_usd":6795786427,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6567109909,"venues":65,"reserves":129}]},{"date":"2026-07-30","debt_usd":16041780593,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14639658555,"venues":67,"reserves":599},{"asset_class":"dollar","supplied_usd":13353690753,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":6876980287,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6657277968,"venues":65,"reserves":129}]},{"date":"2026-07-31","debt_usd":15886474477,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14376858166,"venues":67,"reserves":600},{"asset_class":"dollar","supplied_usd":13341018301,"venues":62,"reserves":349},{"asset_class":"ether","supplied_usd":6688779674,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6462448878,"venues":65,"reserves":129}]},{"date":"2026-08-01","debt_usd":15905910036,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14392906713,"venues":67,"reserves":597},{"asset_class":"dollar","supplied_usd":13405742125,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":6631904367,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6458338401,"venues":65,"reserves":129}]},{"date":"2026-08-02","debt_usd":16017502414,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14614537569,"venues":67,"reserves":597},{"asset_class":"dollar","supplied_usd":13384446506,"venues":62,"reserves":349},{"asset_class":"ether","supplied_usd":6858582689,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6525910921,"venues":65,"reserves":130}]},{"date":"2026-08-03","debt_usd":15985718680,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14527849408,"venues":67,"reserves":597},{"asset_class":"dollar","supplied_usd":13343856617,"venues":62,"reserves":349},{"asset_class":"ether","supplied_usd":6723058148,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6565794667,"venues":65,"reserves":130}]},{"date":"2026-08-04","debt_usd":16064059546,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14707127892,"venues":67,"reserves":598},{"asset_class":"dollar","supplied_usd":13389558674,"venues":62,"reserves":349},{"asset_class":"ether","supplied_usd":6768997894,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6640567567,"venues":65,"reserves":130}]},{"date":"2026-08-05","debt_usd":16149806876,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14906147471,"venues":67,"reserves":598},{"asset_class":"dollar","supplied_usd":13400559632,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":6890110362,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6684821229,"venues":65,"reserves":130}]},{"date":"2026-08-06","debt_usd":16118774099,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14816838195,"venues":66,"reserves":585},{"asset_class":"dollar","supplied_usd":13398803202,"venues":62,"reserves":349},{"asset_class":"ether","supplied_usd":6877078641,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6656146685,"venues":64,"reserves":128}]},{"date":"2026-08-07","debt_usd":16163652887,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14848514560,"venues":66,"reserves":586},{"asset_class":"dollar","supplied_usd":13346223976,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":6896339584,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6726120350,"venues":64,"reserves":128}]},{"date":"2026-08-08","debt_usd":16208077888,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14920387156,"venues":66,"reserves":583},{"asset_class":"dollar","supplied_usd":13377372986,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":6956367790,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6732831191,"venues":64,"reserves":128}]},{"date":"2026-08-09","debt_usd":16213763355,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14936662036,"venues":66,"reserves":584},{"asset_class":"dollar","supplied_usd":13414584585,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":6956360228,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6739461782,"venues":64,"reserves":128}]},{"date":"2026-08-10","debt_usd":16115516091,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14747585642,"venues":66,"reserves":583},{"asset_class":"dollar","supplied_usd":13398833640,"venues":62,"reserves":346},{"asset_class":"ether","supplied_usd":6818238925,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6635477463,"venues":64,"reserves":128}]},{"date":"2026-08-11","debt_usd":16102402597,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14759280678,"venues":66,"reserves":581},{"asset_class":"dollar","supplied_usd":13398083883,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":6824340137,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6551340550,"venues":64,"reserves":128}]},{"date":"2026-08-12","debt_usd":16112251287,"venues":69,"basket":[{"asset_class":"other","supplied_usd":14755259333,"venues":66,"reserves":582},{"asset_class":"dollar","supplied_usd":13395291822,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":6822084937,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6529553866,"venues":64,"reserves":128}]},{"date":"2026-08-13","debt_usd":16218836994,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14900524015,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13440881772,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":6858787174,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6548090514,"venues":65,"reserves":130}]},{"date":"2026-08-14","debt_usd":16273431889,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14890367360,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13479577781,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":6850709235,"venues":44,"reserves":63},{"asset_class":"bitcoin","supplied_usd":6502471921,"venues":65,"reserves":129}]},{"date":"2026-08-15","debt_usd":16260175533,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14941708714,"venues":67,"reserves":593},{"asset_class":"dollar","supplied_usd":13463068700,"venues":62,"reserves":341},{"asset_class":"ether","supplied_usd":6873382887,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":6576069009,"venues":65,"reserves":128}]},{"date":"2026-08-16","debt_usd":16225667836,"venues":70,"basket":[{"asset_class":"other","supplied_usd":14860538326,"venues":67,"reserves":593},{"asset_class":"dollar","supplied_usd":13533535595,"venues":62,"reserves":341},{"asset_class":"ether","supplied_usd":6849773210,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":6541954600,"venues":65,"reserves":128}]},{"date":"2026-08-17","debt_usd":16293088364,"venues":70,"basket":[{"asset_class":"other","supplied_usd":15035113370,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13510797192,"venues":62,"reserves":341},{"asset_class":"ether","supplied_usd":6976954386,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":6697172777,"venues":65,"reserves":128}]},{"date":"2026-08-18","debt_usd":16357918335,"venues":70,"basket":[{"asset_class":"other","supplied_usd":15146598843,"venues":67,"reserves":596},{"asset_class":"dollar","supplied_usd":13548393064,"venues":62,"reserves":340},{"asset_class":"ether","supplied_usd":7001276954,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":6744017291,"venues":65,"reserves":128}]},{"date":"2026-08-19","debt_usd":17364574567,"venues":70,"basket":[{"asset_class":"other","supplied_usd":16997285330,"venues":67,"reserves":596},{"asset_class":"dollar","supplied_usd":13561975476,"venues":62,"reserves":340},{"asset_class":"ether","supplied_usd":8214340405,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":7239425860,"venues":65,"reserves":128}]},{"date":"2026-08-20","debt_usd":17560239983,"venues":70,"basket":[{"asset_class":"other","supplied_usd":17479762426,"venues":67,"reserves":596},{"asset_class":"dollar","supplied_usd":13501606437,"venues":62,"reserves":339},{"asset_class":"ether","supplied_usd":8462354754,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":7587984506,"venues":65,"reserves":128}]},{"date":"2026-08-21","debt_usd":18173494586,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18539752339,"venues":67,"reserves":595},{"asset_class":"dollar","supplied_usd":13425537553,"venues":62,"reserves":340},{"asset_class":"ether","supplied_usd":9136258870,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":8194871596,"venues":65,"reserves":128}]},{"date":"2026-08-22","debt_usd":17893607003,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18089283397,"venues":67,"reserves":596},{"asset_class":"dollar","supplied_usd":13450429604,"venues":62,"reserves":340},{"asset_class":"ether","supplied_usd":8653839777,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":8056619651,"venues":65,"reserves":128}]},{"date":"2026-08-23","debt_usd":18071124563,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18192061384,"venues":67,"reserves":596},{"asset_class":"dollar","supplied_usd":13478769768,"venues":62,"reserves":341},{"asset_class":"ether","supplied_usd":8849808040,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":8000523011,"venues":65,"reserves":128}]},{"date":"2026-08-24","debt_usd":18098430648,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18219017494,"venues":67,"reserves":595},{"asset_class":"dollar","supplied_usd":13403880543,"venues":62,"reserves":342},{"asset_class":"ether","supplied_usd":8810434516,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":8125819188,"venues":65,"reserves":129}]},{"date":"2026-08-25","debt_usd":18046603532,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18139410252,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13361403969,"venues":62,"reserves":342},{"asset_class":"ether","supplied_usd":8730895479,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":8187539805,"venues":65,"reserves":129}]},{"date":"2026-08-26","debt_usd":18147001397,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18324658822,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13349754129,"venues":62,"reserves":342},{"asset_class":"ether","supplied_usd":8910095715,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":8150367074,"venues":65,"reserves":129}]},{"date":"2026-08-27","debt_usd":18257849699,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18599506362,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13487716517,"venues":62,"reserves":341},{"asset_class":"ether","supplied_usd":9028743183,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":8314458178,"venues":65,"reserves":129}]},{"date":"2026-08-28","debt_usd":17929594415,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18088634516,"venues":67,"reserves":593},{"asset_class":"dollar","supplied_usd":13343684795,"venues":62,"reserves":340},{"asset_class":"ether","supplied_usd":8705385375,"venues":44,"reserves":61},{"asset_class":"bitcoin","supplied_usd":8047115094,"venues":65,"reserves":129}]},{"date":"2026-08-29","debt_usd":17912325363,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18153616027,"venues":67,"reserves":591},{"asset_class":"dollar","supplied_usd":13328015484,"venues":62,"reserves":340},{"asset_class":"ether","supplied_usd":8742170937,"venues":44,"reserves":61},{"asset_class":"bitcoin","supplied_usd":8000803482,"venues":65,"reserves":129}]},{"date":"2026-08-30","debt_usd":18031869244,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18224233560,"venues":67,"reserves":591},{"asset_class":"dollar","supplied_usd":13371279493,"venues":62,"reserves":340},{"asset_class":"ether","supplied_usd":8847455573,"venues":44,"reserves":61},{"asset_class":"bitcoin","supplied_usd":8031861298,"venues":65,"reserves":129}]},{"date":"2026-08-31","debt_usd":18089058866,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18283474332,"venues":67,"reserves":591},{"asset_class":"dollar","supplied_usd":13384495436,"venues":62,"reserves":343},{"asset_class":"ether","supplied_usd":8840146731,"venues":44,"reserves":61},{"asset_class":"bitcoin","supplied_usd":8174686350,"venues":65,"reserves":129}]},{"date":"2026-09-01","debt_usd":17978391516,"venues":70,"basket":[{"asset_class":"other","supplied_usd":17952660108,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13358466497,"venues":62,"reserves":347},{"asset_class":"ether","supplied_usd":8662043473,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":7911946121,"venues":65,"reserves":129}]},{"date":"2026-09-02","debt_usd":17904119912,"venues":70,"basket":[{"asset_class":"other","supplied_usd":17865587391,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13312853602,"venues":62,"reserves":347},{"asset_class":"ether","supplied_usd":8589493382,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":7831254247,"venues":65,"reserves":129}]},{"date":"2026-09-03","debt_usd":17905002991,"venues":70,"basket":[{"asset_class":"other","supplied_usd":17828969911,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13160490980,"venues":62,"reserves":345},{"asset_class":"ether","supplied_usd":8590079875,"venues":44,"reserves":62},{"asset_class":"bitcoin","supplied_usd":7857823131,"venues":65,"reserves":129}]},{"date":"2026-09-04","debt_usd":18156365311,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18602545822,"venues":67,"reserves":594},{"asset_class":"dollar","supplied_usd":13336876040,"venues":62,"reserves":343},{"asset_class":"ether","supplied_usd":9046295179,"venues":44,"reserves":61},{"asset_class":"bitcoin","supplied_usd":8239593927,"venues":65,"reserves":129}]},{"date":"2026-09-05","debt_usd":18105723582,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18752600198,"venues":67,"reserves":610},{"asset_class":"dollar","supplied_usd":13167864910,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":8870761752,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8178781712,"venues":64,"reserves":127}]},{"date":"2026-09-06","debt_usd":18223055261,"venues":70,"basket":[{"asset_class":"other","supplied_usd":19077839794,"venues":67,"reserves":610},{"asset_class":"dollar","supplied_usd":13129195506,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":9039300743,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8228662004,"venues":64,"reserves":127}]},{"date":"2026-09-07","debt_usd":18203727952,"venues":70,"basket":[{"asset_class":"other","supplied_usd":19075701091,"venues":67,"reserves":609},{"asset_class":"dollar","supplied_usd":13188890258,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":9063536139,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8149068473,"venues":64,"reserves":127}]},{"date":"2026-09-08","debt_usd":18193647780,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18896069448,"venues":67,"reserves":607},{"asset_class":"dollar","supplied_usd":13210765438,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":9098257471,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8094130055,"venues":64,"reserves":127}]},{"date":"2026-09-09","debt_usd":18081446486,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18911145694,"venues":67,"reserves":608},{"asset_class":"dollar","supplied_usd":13078125198,"venues":62,"reserves":346},{"asset_class":"ether","supplied_usd":9052582356,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8052756585,"venues":64,"reserves":127}]},{"date":"2026-09-10","debt_usd":17970252207,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18659992829,"venues":67,"reserves":608},{"asset_class":"dollar","supplied_usd":13079336773,"venues":62,"reserves":347},{"asset_class":"ether","supplied_usd":8941308452,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":7960051616,"venues":64,"reserves":127}]},{"date":"2026-09-11","debt_usd":17938785303,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18547573893,"venues":67,"reserves":608},{"asset_class":"dollar","supplied_usd":13477486224,"venues":62,"reserves":347},{"asset_class":"ether","supplied_usd":8912850058,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":7859086387,"venues":64,"reserves":127}]},{"date":"2026-09-12","debt_usd":18118025395,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18857475870,"venues":67,"reserves":608},{"asset_class":"dollar","supplied_usd":13407885408,"venues":62,"reserves":347},{"asset_class":"ether","supplied_usd":9161669904,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":7922043275,"venues":64,"reserves":127}]},{"date":"2026-09-13","debt_usd":18135460063,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18953654704,"venues":67,"reserves":608},{"asset_class":"dollar","supplied_usd":13441343311,"venues":62,"reserves":347},{"asset_class":"ether","supplied_usd":9173205657,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":7919973350,"venues":64,"reserves":127}]},{"date":"2026-09-14","debt_usd":18027077581,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18658408732,"venues":67,"reserves":608},{"asset_class":"dollar","supplied_usd":13414655819,"venues":62,"reserves":348},{"asset_class":"ether","supplied_usd":9047164707,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":7879411846,"venues":64,"reserves":127}]},{"date":"2026-09-15","debt_usd":18233522137,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18932993635,"venues":67,"reserves":607},{"asset_class":"dollar","supplied_usd":13642185827,"venues":62,"reserves":347},{"asset_class":"ether","supplied_usd":9171182145,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8028523891,"venues":64,"reserves":127}]},{"date":"2026-09-16","debt_usd":17828799166,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18128624976,"venues":67,"reserves":600},{"asset_class":"dollar","supplied_usd":13580770223,"venues":62,"reserves":346},{"asset_class":"ether","supplied_usd":8729709606,"venues":45,"reserves":64},{"asset_class":"bitcoin","supplied_usd":7800912536,"venues":63,"reserves":126}]},{"date":"2026-09-17","debt_usd":18014044088,"venues":70,"basket":[{"asset_class":"other","supplied_usd":18424261393,"venues":67,"reserves":600},{"asset_class":"dollar","supplied_usd":13665366703,"venues":62,"reserves":345},{"asset_class":"ether","supplied_usd":8886261911,"venues":45,"reserves":64},{"asset_class":"bitcoin","supplied_usd":7944149437,"venues":63,"reserves":126}]},{"date":"2026-09-18","debt_usd":18102069930,"venues":69,"basket":[{"asset_class":"other","supplied_usd":18631419947,"venues":67,"reserves":600},{"asset_class":"dollar","supplied_usd":13707249546,"venues":62,"reserves":345},{"asset_class":"ether","supplied_usd":9010569472,"venues":45,"reserves":64},{"asset_class":"bitcoin","supplied_usd":8034667818,"venues":63,"reserves":126}]},{"date":"2026-09-19","debt_usd":18644089451,"venues":69,"basket":[{"asset_class":"other","supplied_usd":19738408501,"venues":66,"reserves":599},{"asset_class":"dollar","supplied_usd":13599294926,"venues":61,"reserves":343},{"asset_class":"ether","supplied_usd":9592163066,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8521054638,"venues":63,"reserves":126}]},{"date":"2026-09-20","debt_usd":18664880712,"venues":69,"basket":[{"asset_class":"other","supplied_usd":19717304328,"venues":66,"reserves":599},{"asset_class":"dollar","supplied_usd":13575285449,"venues":61,"reserves":343},{"asset_class":"ether","supplied_usd":9631772906,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8508945030,"venues":63,"reserves":126}]},{"date":"2026-09-21","debt_usd":18741097879,"venues":68,"basket":[{"asset_class":"other","supplied_usd":19979823026,"venues":66,"reserves":599},{"asset_class":"dollar","supplied_usd":13525180611,"venues":61,"reserves":343},{"asset_class":"ether","supplied_usd":9784028180,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8511279367,"venues":63,"reserves":126}]},{"date":"2026-09-22","debt_usd":19158750406,"venues":69,"basket":[{"asset_class":"other","supplied_usd":20524733515,"venues":66,"reserves":616},{"asset_class":"dollar","supplied_usd":13674964239,"venues":61,"reserves":352},{"asset_class":"ether","supplied_usd":10012540758,"venues":45,"reserves":64},{"asset_class":"bitcoin","supplied_usd":9020164515,"venues":65,"reserves":128}]},{"date":"2026-09-23","debt_usd":19217929863,"venues":68,"basket":[{"asset_class":"other","supplied_usd":20582790352,"venues":66,"reserves":612},{"asset_class":"dollar","supplied_usd":13563364968,"venues":61,"reserves":350},{"asset_class":"ether","supplied_usd":10048909129,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":9045953482,"venues":65,"reserves":129}]},{"date":"2026-09-24","debt_usd":18917192652,"venues":68,"basket":[{"asset_class":"other","supplied_usd":20047070816,"venues":66,"reserves":612},{"asset_class":"dollar","supplied_usd":13471388045,"venues":61,"reserves":354},{"asset_class":"ether","supplied_usd":9805785009,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8909178188,"venues":65,"reserves":129}]},{"date":"2026-09-25","debt_usd":18798732549,"venues":68,"basket":[{"asset_class":"other","supplied_usd":19987146766,"venues":66,"reserves":601},{"asset_class":"dollar","supplied_usd":13266903465,"venues":61,"reserves":345},{"asset_class":"ether","supplied_usd":9835439775,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8815747346,"venues":64,"reserves":128}]},{"date":"2026-09-26","debt_usd":18815890950,"venues":69,"basket":[{"asset_class":"other","supplied_usd":20132545221,"venues":66,"reserves":607},{"asset_class":"dollar","supplied_usd":13322759481,"venues":61,"reserves":345},{"asset_class":"ether","supplied_usd":9834536283,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8728452219,"venues":64,"reserves":128}]},{"date":"2026-09-27","debt_usd":18846094299,"venues":69,"basket":[{"asset_class":"other","supplied_usd":20156768972,"venues":66,"reserves":609},{"asset_class":"dollar","supplied_usd":13299860554,"venues":61,"reserves":345},{"asset_class":"ether","supplied_usd":9779141431,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8768899410,"venues":64,"reserves":128}]},{"date":"2026-09-28","debt_usd":18718041745,"venues":69,"basket":[{"asset_class":"other","supplied_usd":19939583959,"venues":66,"reserves":587},{"asset_class":"dollar","supplied_usd":13311758528,"venues":61,"reserves":338},{"asset_class":"ether","supplied_usd":9672996155,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8683616185,"venues":64,"reserves":125}]},{"date":"2026-09-29","debt_usd":18688027176,"venues":69,"basket":[{"asset_class":"other","supplied_usd":19993087969,"venues":66,"reserves":584},{"asset_class":"dollar","supplied_usd":13296376440,"venues":61,"reserves":338},{"asset_class":"ether","supplied_usd":9684591538,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8587050362,"venues":64,"reserves":125}]},{"date":"2026-09-30","debt_usd":18797360604,"venues":68,"basket":[{"asset_class":"other","supplied_usd":19944404867,"venues":66,"reserves":585},{"asset_class":"dollar","supplied_usd":13246178653,"venues":61,"reserves":338},{"asset_class":"ether","supplied_usd":9747906769,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8647889292,"venues":63,"reserves":124}]},{"date":"2026-10-01","debt_usd":18876202063,"venues":68,"basket":[{"asset_class":"other","supplied_usd":19956249550,"venues":66,"reserves":582},{"asset_class":"dollar","supplied_usd":13344696775,"venues":61,"reserves":338},{"asset_class":"ether","supplied_usd":9831795594,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8635918586,"venues":63,"reserves":124}]},{"date":"2026-10-02","debt_usd":18934673449,"venues":68,"basket":[{"asset_class":"other","supplied_usd":20001845548,"venues":66,"reserves":580},{"asset_class":"dollar","supplied_usd":13343812168,"venues":60,"reserves":334},{"asset_class":"ether","supplied_usd":9904315305,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8774602760,"venues":63,"reserves":124}]},{"date":"2026-10-03","debt_usd":18840254281,"venues":68,"basket":[{"asset_class":"other","supplied_usd":19836953893,"venues":66,"reserves":582},{"asset_class":"dollar","supplied_usd":13425788878,"venues":60,"reserves":334},{"asset_class":"ether","supplied_usd":9771202438,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8716110645,"venues":63,"reserves":124}]},{"date":"2026-10-04","debt_usd":18875314968,"venues":68,"basket":[{"asset_class":"other","supplied_usd":19950827654,"venues":66,"reserves":584},{"asset_class":"dollar","supplied_usd":13405047224,"venues":60,"reserves":333},{"asset_class":"ether","supplied_usd":9889688784,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8728430218,"venues":63,"reserves":124}]},{"date":"2026-10-05","debt_usd":18969373236,"venues":68,"basket":[{"asset_class":"other","supplied_usd":20165644658,"venues":66,"reserves":585},{"asset_class":"dollar","supplied_usd":13391703215,"venues":60,"reserves":333},{"asset_class":"ether","supplied_usd":10156586048,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8881980412,"venues":63,"reserves":124}]},{"date":"2026-10-06","debt_usd":18884259121,"venues":68,"basket":[{"asset_class":"other","supplied_usd":20076240942,"venues":66,"reserves":587},{"asset_class":"dollar","supplied_usd":13299093718,"venues":60,"reserves":333},{"asset_class":"ether","supplied_usd":10122776659,"venues":46,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8781436435,"venues":63,"reserves":124}]},{"date":"2026-10-07","debt_usd":18962590657,"venues":74,"basket":[{"asset_class":"other","supplied_usd":20144938071,"venues":72,"reserves":660},{"asset_class":"dollar","supplied_usd":13477222873,"venues":66,"reserves":373},{"asset_class":"ether","supplied_usd":10037828089,"venues":49,"reserves":70},{"asset_class":"bitcoin","supplied_usd":8757285057,"venues":69,"reserves":136}]},{"date":"2026-10-08","debt_usd":18731570913,"venues":69,"basket":[{"asset_class":"other","supplied_usd":19812638361,"venues":63,"reserves":557},{"asset_class":"dollar","supplied_usd":13435625535,"venues":62,"reserves":346},{"asset_class":"ether","supplied_usd":9913347767,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8627196259,"venues":58,"reserves":119}]},{"date":"2026-10-09","debt_usd":18305695748,"venues":69,"basket":[{"asset_class":"other","supplied_usd":19258887503,"venues":63,"reserves":557},{"asset_class":"dollar","supplied_usd":13197345844,"venues":62,"reserves":345},{"asset_class":"ether","supplied_usd":9582011160,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8495147957,"venues":58,"reserves":119}]},{"date":"2026-10-10","debt_usd":18226352858,"venues":68,"basket":[{"asset_class":"other","supplied_usd":19194767781,"venues":62,"reserves":555},{"asset_class":"dollar","supplied_usd":13172475116,"venues":61,"reserves":345},{"asset_class":"ether","supplied_usd":9574883794,"venues":45,"reserves":65},{"asset_class":"bitcoin","supplied_usd":8508480260,"venues":58,"reserves":119}]},{"date":"2026-10-11","debt_usd":18260277095,"venues":68,"basket":[{"asset_class":"other","supplied_usd":19271018288,"venues":62,"reserves":558},{"asset_class":"dollar","supplied_usd":13179046019,"venues":61,"reserves":344},{"asset_class":"ether","supplied_usd":9642960851,"venues":45,"reserves":66},{"asset_class":"bitcoin","supplied_usd":8552367818,"venues":58,"reserves":120}]},{"date":"2026-10-12","debt_usd":18339524632,"venues":68,"basket":[{"asset_class":"other","supplied_usd":19498689339,"venues":62,"reserves":557},{"asset_class":"dollar","supplied_usd":13085298114,"venues":61,"reserves":343},{"asset_class":"ether","supplied_usd":9799678960,"venues":45,"reserves":66},{"asset_class":"bitcoin","supplied_usd":8632769920,"venues":58,"reserves":123}]},{"date":"2026-10-13","debt_usd":18228946685,"venues":68,"basket":[{"asset_class":"other","supplied_usd":19101324614,"venues":62,"reserves":557},{"asset_class":"dollar","supplied_usd":13160871821,"venues":61,"reserves":345},{"asset_class":"ether","supplied_usd":9584794356,"venues":45,"reserves":66},{"asset_class":"bitcoin","supplied_usd":8019235431,"venues":57,"reserves":121}]}],"note":"Backed by A POOL — which is the answer, not a gap. A pooled reserve lends against its whole basket at once, so no dollar of this debt belongs to any one collateral. It is carried whole rather than distributed across the wrappers on an assumption.","bitcoin_only_accounts":{"debt_usd":1918138126,"other_currencies_usd":135330285,"collateral_usd":4926415206,"collateral_btc":59060,"accounts":19331,"venues":27,"mixed_debt_usd":1792248110,"mixed_accounts":26571,"as_of":"2026-10-13","by_venue":[{"venue_id":"aave_v3_ethereum","as_of":"2026-10-13","accounts":4452,"debt_usd":1232163031,"other_currencies_usd":50366690,"collateral_usd":3158055352,"ltv":0.40611375602169836,"largest_share":0.17789181101350166,"mixed_accounts":5150,"mixed_debt_usd":985646675,"mixed_btc_collateral_usd":1433716831},{"venue_id":"spark_ethereum","as_of":"2026-10-13","accounts":170,"debt_usd":258077617,"other_currencies_usd":190296,"collateral_usd":552186055,"ltv":0.4677190060939462,"largest_share":0.2172864348300251,"mixed_accounts":161,"mixed_debt_usd":194930787,"mixed_btc_collateral_usd":165828294},{"venue_id":"venus_core_pool_bsc","as_of":"2026-10-13","accounts":1626,"debt_usd":84082921,"other_currencies_usd":63845861,"collateral_usd":361501614,"ltv":0.40920642126026735,"largest_share":0.1547217681474152,"mixed_accounts":1934,"mixed_debt_usd":70350995,"mixed_btc_collateral_usd":248606822},{"venue_id":"compound_v3_ethereum","as_of":"2026-10-13","accounts":338,"debt_usd":83782160,"other_currencies_usd":125604,"collateral_usd":191095171,"ltv":0.4390888761044378,"largest_share":0.17371364004695836,"mixed_accounts":248,"mixed_debt_usd":273120980,"mixed_btc_collateral_usd":384947832},{"venue_id":"tydro_ink","as_of":"2026-10-13","accounts":122,"debt_usd":54456934,"other_currencies_usd":26572,"collateral_usd":93394622,"ltv":0.5833687764126294,"largest_share":0.8309081221865173,"mixed_accounts":293,"mixed_debt_usd":472500,"mixed_btc_collateral_usd":875996},{"venue_id":"aave_v3_base","as_of":"2026-10-13","accounts":3328,"debt_usd":52591677,"other_currencies_usd":5559509,"collateral_usd":145267425,"ltv":0.40030438276458086,"largest_share":0.05274424699408049,"mixed_accounts":4819,"mixed_debt_usd":58902178,"mixed_btc_collateral_usd":84937979},{"venue_id":"aave_v3_arbitrum","as_of":"2026-10-13","accounts":3337,"debt_usd":45312273,"other_currencies_usd":1837288,"collateral_usd":128777592,"ltv":0.3661317213388889,"largest_share":0.04407831604369157,"mixed_accounts":5894,"mixed_debt_usd":84079680,"mixed_btc_collateral_usd":108500816},{"venue_id":"aave_v4_ethereum","as_of":"2026-10-13","accounts":423,"debt_usd":22963727,"other_currencies_usd":1084629,"collateral_usd":57930254,"ltv":0.41512602823627676,"largest_share":0.08780291852062296,"mixed_accounts":282,"mixed_debt_usd":20456643,"mixed_btc_collateral_usd":38230539},{"venue_id":"aave_v3_bsc","as_of":"2026-10-13","accounts":1219,"debt_usd":18158327,"other_currencies_usd":7305080,"collateral_usd":60088216,"ltv":0.42376706530724656,"largest_share":0.2421258982255687,"mixed_accounts":1104,"mixed_debt_usd":26322878,"mixed_btc_collateral_usd":24892079},{"venue_id":"aave_v3_avalanche","as_of":"2026-10-13","accounts":958,"debt_usd":17984597,"other_currencies_usd":1068080,"collateral_usd":50709613,"ltv":0.3757212028853966,"largest_share":0.10954864540550731,"mixed_accounts":1100,"mixed_debt_usd":17805400,"mixed_btc_collateral_usd":37439865},{"venue_id":"aave_v3_polygon","as_of":"2026-10-13","accounts":1908,"debt_usd":16934584,"other_currencies_usd":1408360,"collateral_usd":40658603,"ltv":0.4511454472424119,"largest_share":0.19655271698137702,"mixed_accounts":2948,"mixed_debt_usd":15495897,"mixed_btc_collateral_usd":25241268},{"venue_id":"compound_v3_arbitrum","as_of":"2026-10-13","accounts":268,"debt_usd":8663056,"other_currencies_usd":2507,"collateral_usd":19754181,"ltv":0.4386698623939769,"largest_share":0.2401463735486349,"mixed_accounts":287,"mixed_debt_usd":8343544,"mixed_btc_collateral_usd":10691780},{"venue_id":"aave_v3_mantle","as_of":"2026-10-13","accounts":7,"debt_usd":5767958,"other_currencies_usd":0,"collateral_usd":11197561,"ltv":0.5151083907149724,"largest_share":0.7457839667405889,"mixed_accounts":0,"mixed_debt_usd":0,"mixed_btc_collateral_usd":0},{"venue_id":"aave_v4_avalanche","as_of":"2026-10-13","accounts":50,"debt_usd":3030132,"other_currencies_usd":7700,"collateral_usd":6123959,"ltv":0.49605691017429826,"largest_share":0.5214869504402232,"mixed_accounts":32,"mixed_debt_usd":1639565,"mixed_btc_collateral_usd":2672109},{"venue_id":"compound_v2_ethereum","as_of":"2026-10-13","accounts":173,"debt_usd":2826694,"other_currencies_usd":45976,"collateral_usd":15706595,"ltv":0.18289580110393439,"largest_share":0.3830945257901616,"mixed_accounts":119,"mixed_debt_usd":840298,"mixed_btc_collateral_usd":2448775},{"venue_id":"compound_v3_base","as_of":"2026-10-13","accounts":127,"debt_usd":2642740,"other_currencies_usd":236980,"collateral_usd":6223562,"ltv":0.46271254938973794,"largest_share":0.25312693858645924,"mixed_accounts":131,"mixed_debt_usd":2851377,"mixed_btc_collateral_usd":2890935},{"venue_id":"aave_v3_optimism","as_of":"2026-10-13","accounts":210,"debt_usd":1681889,"other_currencies_usd":193399,"collateral_usd":4841606,"ltv":0.3873277534688871,"largest_share":0.06901301208022928,"mixed_accounts":407,"mixed_debt_usd":5809601,"mixed_btc_collateral_usd":8542441},{"venue_id":"tectonic_cronos","as_of":"2026-10-13","accounts":91,"debt_usd":1630285,"other_currencies_usd":20317,"collateral_usd":3941695,"ltv":0.41875430963563776,"largest_share":0.3671803130712954,"mixed_accounts":247,"mixed_debt_usd":3164545,"mixed_btc_collateral_usd":5116631},{"venue_id":"compound_v3_optimism","as_of":"2026-10-13","accounts":40,"debt_usd":1478647,"other_currencies_usd":63141,"collateral_usd":3436880,"ltv":0.44860096202043714,"largest_share":0.5030773224596196,"mixed_accounts":60,"mixed_debt_usd":823624,"mixed_btc_collateral_usd":1179326},{"venue_id":"hyperlend_pooled_hyperliquid_l1","as_of":"2026-10-13","accounts":91,"debt_usd":1422360,"other_currencies_usd":65876,"collateral_usd":5935666,"ltv":0.2507277839324441,"largest_share":0.6212644054058779,"mixed_accounts":509,"mixed_debt_usd":11463973,"mixed_btc_collateral_usd":3814199},{"venue_id":"moonwell_lending_base","as_of":"2026-10-13","accounts":184,"debt_usd":1036702,"other_currencies_usd":1389015,"collateral_usd":2710850,"ltv":0.8948178864844856,"largest_share":0.4713042196607954,"mixed_accounts":260,"mixed_debt_usd":2110256,"mixed_btc_collateral_usd":5937606},{"venue_id":"compound_v3_polygon","as_of":"2026-10-13","accounts":34,"debt_usd":850820,"other_currencies_usd":0,"collateral_usd":1836652,"ltv":0.46324522660253636,"largest_share":0.6350576854120447,"mixed_accounts":27,"mixed_debt_usd":738721,"mixed_btc_collateral_usd":1201461},{"venue_id":"benqi_lending_avalanche","as_of":"2026-10-13","accounts":89,"debt_usd":414195,"other_currencies_usd":464645,"collateral_usd":4553110,"ltv":0.19301967334161352,"largest_share":0.38165901227599397,"mixed_accounts":169,"mixed_debt_usd":2978485,"mixed_btc_collateral_usd":6779561},{"venue_id":"aave_v3_xlayer","as_of":"2026-10-13","accounts":44,"debt_usd":93920,"other_currencies_usd":22273,"collateral_usd":249398,"ltv":0.4658955576838362,"largest_share":0.265506311494787,"mixed_accounts":28,"mixed_debt_usd":135097,"mixed_btc_collateral_usd":378843},{"venue_id":"aave_v3_linea","as_of":"2026-10-13","accounts":21,"debt_usd":57514,"other_currencies_usd":486,"collateral_usd":127669,"ltv":0.4542952877411599,"largest_share":0.6545105039908531,"mixed_accounts":62,"mixed_debt_usd":565835,"mixed_btc_collateral_usd":589983},{"venue_id":"etherfi_borrowing_optimism","as_of":"2026-10-13","accounts":18,"debt_usd":17845,"other_currencies_usd":0,"collateral_usd":68834,"ltv":0.25923928085713405,"largest_share":0.36058983110839776,"mixed_accounts":300,"mixed_debt_usd":3198580,"mixed_btc_collateral_usd":1187344},{"venue_id":"aave_v3_megaeth","as_of":"2026-10-13","accounts":3,"debt_usd":15521,"other_currencies_usd":0,"collateral_usd":42471,"ltv":0.3654483658633374,"largest_share":0.902664350587068,"mixed_accounts":0,"mixed_debt_usd":0,"mixed_btc_collateral_usd":0}],"points":[{"date":"2025-10-20","debt_usd":2704325329,"collateral_usd":6679910912,"venues":21},{"date":"2025-10-27","debt_usd":2728876791,"collateral_usd":6991205504,"venues":21},{"date":"2025-11-03","debt_usd":2704439970,"collateral_usd":6782985719,"venues":21},{"date":"2025-11-10","debt_usd":2434498607,"collateral_usd":6105740776,"venues":21},{"date":"2025-11-17","debt_usd":2306025268,"collateral_usd":5405034459,"venues":21},{"date":"2025-11-24","debt_usd":1953769764,"collateral_usd":4820063809,"venues":21},{"date":"2025-12-01","debt_usd":1948639569,"collateral_usd":4767700662,"venues":20},{"date":"2025-12-08","debt_usd":1923391893,"collateral_usd":5007631215,"venues":20},{"date":"2025-12-15","debt_usd":1898757046,"collateral_usd":4873016487,"venues":20},{"date":"2025-12-22","debt_usd":1875212182,"collateral_usd":4764428037,"venues":20},{"date":"2025-12-29","debt_usd":1905995308,"collateral_usd":4862593911,"venues":20},{"date":"2026-01-05","debt_usd":2030985084,"collateral_usd":5267355346,"venues":21},{"date":"2026-01-12","debt_usd":2036830605,"collateral_usd":5261752247,"venues":21},{"date":"2026-01-19","debt_usd":2075441087,"collateral_usd":5415997674,"venues":20},{"date":"2026-01-26","debt_usd":2090787890,"collateral_usd":5112441048,"venues":21},{"date":"2026-02-02","debt_usd":1901456487,"collateral_usd":4289962165,"venues":21},{"date":"2026-02-09","debt_usd":1546086181,"collateral_usd":3915678881,"venues":21},{"date":"2026-02-16","debt_usd":1591185706,"collateral_usd":3806925471,"venues":23},{"date":"2026-02-23","debt_usd":1557382315,"collateral_usd":3547743143,"venues":23},{"date":"2026-03-02","debt_usd":1523010824,"collateral_usd":3621560142,"venues":23},{"date":"2026-03-09","debt_usd":1528765462,"collateral_usd":3680115591,"venues":23},{"date":"2026-03-16","debt_usd":1512629472,"collateral_usd":3987693887,"venues":23},{"date":"2026-03-23","debt_usd":1503059861,"collateral_usd":3592494869,"venues":23},{"date":"2026-03-30","debt_usd":1540896713,"collateral_usd":3617786988,"venues":24},{"date":"2026-04-06","debt_usd":1542310782,"collateral_usd":3676513330,"venues":24},{"date":"2026-04-13","debt_usd":1534666373,"collateral_usd":3757254306,"venues":24},{"date":"2026-04-20","debt_usd":1371420339,"collateral_usd":3382436048,"venues":24},{"date":"2026-04-27","debt_usd":1360559746,"collateral_usd":3438939737,"venues":24},{"date":"2026-05-04","debt_usd":1413952032,"collateral_usd":3677236500,"venues":24},{"date":"2026-05-11","debt_usd":1602291389,"collateral_usd":4044952249,"venues":24},{"date":"2026-05-18","debt_usd":1565843191,"collateral_usd":3789462233,"venues":24},{"date":"2026-05-25","debt_usd":1576134004,"collateral_usd":3798600674,"venues":24},{"date":"2026-06-01","debt_usd":1587460085,"collateral_usd":3664710888,"venues":24},{"date":"2026-06-08","debt_usd":1480069328,"collateral_usd":3279900837,"venues":24},{"date":"2026-06-15","debt_usd":1440593555,"collateral_usd":3345030826,"venues":24},{"date":"2026-06-22","debt_usd":1440103399,"collateral_usd":3228116485,"venues":24},{"date":"2026-06-29","debt_usd":1438727748,"collateral_usd":3172717382,"venues":24},{"date":"2026-07-06","debt_usd":1469656531,"collateral_usd":3434760631,"venues":24},{"date":"2026-07-13","debt_usd":1497832522,"collateral_usd":3397014059,"venues":24},{"date":"2026-07-20","debt_usd":1525193587,"collateral_usd":3529153920,"venues":24},{"date":"2026-07-27","debt_usd":1547726420,"collateral_usd":3589213056,"venues":23},{"date":"2026-08-03","debt_usd":1548330510,"collateral_usd":3479126738,"venues":23},{"date":"2026-08-10","debt_usd":1595201105,"collateral_usd":3653103945,"venues":23},{"date":"2026-08-17","debt_usd":1593081407,"collateral_usd":3579272898,"venues":23},{"date":"2026-08-24","debt_usd":1718671095,"collateral_usd":4416943232,"venues":24},{"date":"2026-08-31","debt_usd":1760765461,"collateral_usd":4470159492,"venues":24},{"date":"2026-09-07","debt_usd":1750001745,"collateral_usd":4521679476,"venues":24},{"date":"2026-09-14","debt_usd":1754400370,"collateral_usd":4426876462,"venues":24},{"date":"2026-09-21","debt_usd":1816400242,"collateral_usd":4746449522,"venues":24},{"date":"2026-09-28","debt_usd":1859168562,"collateral_usd":4898613045,"venues":24},{"date":"2026-10-01","debt_usd":1870337438,"collateral_usd":5022294261,"venues":22},{"date":"2026-10-02","debt_usd":1868615869,"collateral_usd":5101462549,"venues":23},{"date":"2026-10-03","debt_usd":1862450382,"collateral_usd":4967895811,"venues":23},{"date":"2026-10-04","debt_usd":1868823362,"collateral_usd":5019332399,"venues":23},{"date":"2026-10-05","debt_usd":1870115648,"collateral_usd":5063932273,"venues":24},{"date":"2026-10-06","debt_usd":1837362599,"collateral_usd":4968778798,"venues":24},{"date":"2026-10-07","debt_usd":1814529469,"collateral_usd":4836600131,"venues":24},{"date":"2026-10-08","debt_usd":1875974296,"collateral_usd":4904382921,"venues":27},{"date":"2026-10-09","debt_usd":1907830729,"collateral_usd":4853863065,"venues":27},{"date":"2026-10-10","debt_usd":1890629449,"collateral_usd":4842217182,"venues":27},{"date":"2026-10-11","debt_usd":1893535832,"collateral_usd":4865194461,"venues":27},{"date":"2026-10-12","debt_usd":1903157127,"collateral_usd":4929449829,"venues":27},{"date":"2026-10-13","debt_usd":1918138126,"collateral_usd":4926415206,"venues":27}],"observer":"contract_read — each pool's own contracts, account by account (ingest credit-state/pool-borrowers.mjs)","note":"Dollar debt owed by accounts whose enabled collateral is at least 99% bitcoin: secured by bitcoin exactly, so it is counted as an exact kind and taken out of the basket. What they borrowed in other currencies (other_currencies_usd) is shown, never added, as everywhere in this route; the LTV per venue divides all of it. Accounts posting bitcoin among other collateral (mixed_debt_usd, dollars) stay in the basket — a bound on what bitcoin helps secure, never apportioned to it."},"basket_note":"What the pools HOLD, by asset class, in supplied dollars. A DIFFERENT QUANTITY from the debt above it: it describes the collateral base those loans are drawn against, and it does NOT say which collateral backs which loan. Nothing here multiplies a pool's debt by its bitcoin share — that would assume every collateral backs debt in proportion, which nothing in the data establishes.","asset_class_note":"bitcoin / ether / dollar are the price-pegged sets from asset_peg. `other` is the largest band and is a finding, not a dustbin: the liquid-staking and yield-bearing wrappers (weETH, wstETH, osETH, sUSDe) drift against the asset they are named after, so the peg rule refuses to call them ether or dollars.","venues_latest":[{"venue_id":"aave_v3_ethereum","debt_usd":9741307312,"supplied_usd":23774095557,"supplied_btc_usd":4693798336,"btc_share_of_collateral":0.1974333082209291},{"venue_id":"spark_ethereum","debt_usd":2782082568,"supplied_usd":7997317521,"supplied_btc_usd":721292263,"btc_share_of_collateral":0.0901917750367598},{"venue_id":"kamino_lend_solana","debt_usd":899351027,"supplied_usd":2308138882,"supplied_btc_usd":84512981,"btc_share_of_collateral":0.03661520634343801},{"venue_id":"compound_v3_ethereum","debt_usd":583499692,"supplied_usd":1847881697,"supplied_btc_usd":571279713,"btc_share_of_collateral":0.30915383483134784},{"venue_id":"fira_ethereum","debt_usd":438201367,"supplied_usd":499239761,"supplied_btc_usd":null,"btc_share_of_collateral":null},{"venue_id":"venus_core_pool_bsc","debt_usd":378559995,"supplied_usd":1647355270,"supplied_btc_usd":669837030,"btc_share_of_collateral":0.4066135839798448},{"venue_id":"aave_v3_base","debt_usd":359714175,"supplied_usd":874929620,"supplied_btc_usd":239944252,"btc_share_of_collateral":0.27424406119983136},{"venue_id":"aave_v3_arbitrum","debt_usd":356650843,"supplied_usd":895112405,"supplied_btc_usd":253464092,"btc_share_of_collateral":0.2831645398770557},{"venue_id":"dolomite_ethereum","debt_usd":346754431,"supplied_usd":959041894,"supplied_btc_usd":640107,"btc_share_of_collateral":0.000667444112156118},{"venue_id":"aave_v4_ethereum","debt_usd":293420146,"supplied_usd":740406679,"supplied_btc_usd":96864246,"btc_share_of_collateral":0.13082573237034267}]},"backing_kinds":[{"kind":"a pool","debt_usd":16310808559,"debt_usd_total":18228946685,"link":"basket only — no dollar is assignable to a collateral. Of it, $1,792m is owed by accounts posting bitcoin among other collateral","dated_series":true},{"kind":"a pool, bitcoin-only accounts","debt_usd":1918138126,"bitcoin_collateral":true,"link":"exact — dollar loans to 19,331 accounts at 27 pooled venues whose only collateral is bitcoin, read one by one from the pools' contracts; the $135m they borrowed in other currencies stays in the pool segment","dated_series":true,"as_of":"2026-10-13"},{"kind":"financed by bitcoin","debt_usd":26330129200,"link":"no lien on the coins — the issuers hold 947,851 BTC against it, 2.8x the registered debt (a ceiling, see the caveat)","dated_series":false,"as_of":"2026-06-30"},{"kind":"a named wrapper","debt_usd":2580144735,"bitcoin_collateral":true,"link":"exact — the market IS a (collateral, loan) pair","dated_series":true},{"kind":"a vault","debt_usd":2199360,"link":"exact — debt and collateral are held per vault type","dated_series":true},{"kind":"escrowed at auction","debt_usd":17421,"link":"exact — the collateral is escrowed by the protocol against the loan","dated_series":false},{"kind":"a custodial desk","debt_usd":2419791897,"debt_usd_low":1623372397,"debt_usd_high":6244211397,"is_estimate":true,"observed_usd":785435897,"link":"bitcoin held in custody at the desk — 7 of 13 desks counted, 3 of them from a published or filed book and the rest bounded from stated inputs","dated_series":false,"absent_because":"Every one of the 13 carded desks now carries a figure, and they are not the same kind of figure. Two are ZERO and exact — BlockFi and Celsius are in confirmed Chapter 11 wind-down and originate nothing. One publishes monthly (Ledn). One filed a book with the SEC, in 2021, and has not filed since (SALT). Two have announced FACILITIES rather than books — Cantor $2bn, Strike $2.1bn — which is capacity, not credit, and is carried under its own metric so no total can reach it. The rest are bounded estimates. ⚠ Coinbase is absent from this segment ON PURPOSE: it originates its retail bitcoin-backed loans into Morpho Blue markets on Base, so its book is already read on-chain every day and already counted in the named-wrapper segment. Adding it here would count it twice."}],"vault":{"debt_usd":2199360,"collateral_btc":132.23029474002035,"points":[{"date":"2025-10-14","debt_usd":4138655,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-15","debt_usd":4138655,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-16","debt_usd":4138655,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-17","debt_usd":4138655,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-18","debt_usd":4138655,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-19","debt_usd":4138655,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-20","debt_usd":4138655,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-21","debt_usd":4138655,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-22","debt_usd":4138655,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-23","debt_usd":4138655,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-24","debt_usd":4138655,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-25","debt_usd":4138655,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-26","debt_usd":4138655,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-27","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-28","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-29","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-30","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-10-31","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-11-01","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-11-02","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-11-03","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-11-04","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-11-05","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-11-06","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-11-07","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-11-08","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-11-09","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-11-10","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-11-11","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-11-12","debt_usd":4215372,"collateral_btc":221.87248146080952,"ilks":3},{"date":"2025-11-13","debt_usd":4191800,"collateral_btc":219.54756963080956,"ilks":3},{"date":"2025-11-14","debt_usd":4191800,"collateral_btc":219.54756963080956,"ilks":3},{"date":"2025-11-15","debt_usd":4119077,"collateral_btc":218.21962632080954,"ilks":3},{"date":"2025-11-16","debt_usd":4119077,"collateral_btc":218.21962632080954,"ilks":3},{"date":"2025-11-17","debt_usd":4119077,"collateral_btc":218.21962632080954,"ilks":3},{"date":"2025-11-18","debt_usd":4119077,"collateral_btc":218.21962632080954,"ilks":3},{"date":"2025-11-19","debt_usd":4119077,"collateral_btc":218.21962632080954,"ilks":3},{"date":"2025-11-20","debt_usd":4119077,"collateral_btc":218.21962632080954,"ilks":3},{"date":"2025-11-21","debt_usd":4119077,"collateral_btc":218.26952632080952,"ilks":3},{"date":"2025-11-22","debt_usd":4119077,"collateral_btc":218.26952632080952,"ilks":3},{"date":"2025-11-23","debt_usd":4119077,"collateral_btc":218.26952632080952,"ilks":3},{"date":"2025-11-24","debt_usd":4119077,"collateral_btc":218.26952632080952,"ilks":3},{"date":"2025-11-25","debt_usd":4119077,"collateral_btc":218.26952632080952,"ilks":3},{"date":"2025-11-26","debt_usd":4119077,"collateral_btc":218.26952632080952,"ilks":3},{"date":"2025-11-27","debt_usd":4119077,"collateral_btc":218.26952632080952,"ilks":3},{"date":"2025-11-28","debt_usd":4119077,"collateral_btc":218.26952632080952,"ilks":3},{"date":"2025-11-29","debt_usd":4119077,"collateral_btc":218.26952632080952,"ilks":3},{"date":"2025-11-30","debt_usd":4119077,"collateral_btc":218.26952632080952,"ilks":3},{"date":"2025-12-01","debt_usd":4119077,"collateral_btc":218.26952632080952,"ilks":3},{"date":"2025-12-02","debt_usd":4107543,"collateral_btc":216.30119709080952,"ilks":3},{"date":"2025-12-03","debt_usd":4107543,"collateral_btc":216.30119709080952,"ilks":3},{"date":"2025-12-04","debt_usd":3984903,"collateral_btc":208.20119709080953,"ilks":3},{"date":"2025-12-05","debt_usd":3984903,"collateral_btc":208.20119709080953,"ilks":3},{"date":"2025-12-06","debt_usd":3984903,"collateral_btc":208.20119709080953,"ilks":3},{"date":"2025-12-07","debt_usd":3984903,"collateral_btc":208.20119709080953,"ilks":3},{"date":"2025-12-08","debt_usd":3984903,"collateral_btc":208.20119709080953,"ilks":3},{"date":"2025-12-09","debt_usd":3937402,"collateral_btc":206.64507732080952,"ilks":3},{"date":"2025-12-10","debt_usd":3937402,"collateral_btc":206.64507732080952,"ilks":3},{"date":"2025-12-11","debt_usd":2310881,"collateral_btc":151.64169621080953,"ilks":3},{"date":"2025-12-12","debt_usd":2310881,"collateral_btc":151.64169621080953,"ilks":3},{"date":"2025-12-13","debt_usd":2310881,"collateral_btc":151.64169621080953,"ilks":3},{"date":"2025-12-14","debt_usd":2310881,"collateral_btc":151.64169621080953,"ilks":3},{"date":"2025-12-15","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-16","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-17","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-18","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-19","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-20","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-21","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-22","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-23","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-24","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-25","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-26","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-27","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-28","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-29","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-30","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2025-12-31","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-01","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-02","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-03","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-04","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-05","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-06","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-07","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-08","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-09","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-10","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-11","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-12","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-13","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-14","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-15","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-16","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-17","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-18","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-19","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-20","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-21","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-22","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-23","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-24","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-25","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-26","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-27","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-28","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-29","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-30","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-01-31","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-02-01","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-02-02","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-02-03","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-02-04","debt_usd":2291692,"collateral_btc":149.65169621080955,"ilks":3},{"date":"2026-02-05","debt_usd":2242342,"collateral_btc":149.34169621080954,"ilks":3},{"date":"2026-02-06","debt_usd":2234530,"collateral_btc":149.22815481080954,"ilks":3},{"date":"2026-02-07","debt_usd":2234530,"collateral_btc":149.22815481080954,"ilks":3},{"date":"2026-02-08","debt_usd":2234530,"collateral_btc":149.22815481080954,"ilks":3},{"date":"2026-02-09","debt_usd":2229506,"collateral_btc":148.72715481080954,"ilks":3},{"date":"2026-02-10","debt_usd":2219699,"collateral_btc":147.67715481080953,"ilks":3},{"date":"2026-02-11","debt_usd":2217253,"collateral_btc":147.67715481080953,"ilks":3},{"date":"2026-02-12","debt_usd":2209752,"collateral_btc":146.85600459080953,"ilks":3},{"date":"2026-02-13","debt_usd":2209752,"collateral_btc":146.85600459080953,"ilks":3},{"date":"2026-02-14","debt_usd":2209752,"collateral_btc":146.85600459080953,"ilks":3},{"date":"2026-02-15","debt_usd":2209752,"collateral_btc":146.85600459080953,"ilks":3},{"date":"2026-02-16","debt_usd":2209752,"collateral_btc":146.85600459080953,"ilks":3},{"date":"2026-02-17","debt_usd":2209752,"collateral_btc":146.85600459080953,"ilks":3},{"date":"2026-02-18","debt_usd":2165892,"collateral_btc":142.39359585080953,"ilks":3},{"date":"2026-02-19","debt_usd":2165892,"collateral_btc":142.39359585080953,"ilks":3},{"date":"2026-02-20","debt_usd":2165892,"collateral_btc":141.70648762080953,"ilks":3},{"date":"2026-02-21","debt_usd":2165892,"collateral_btc":141.70648762080953,"ilks":3},{"date":"2026-02-22","debt_usd":2165892,"collateral_btc":141.70648762080953,"ilks":3},{"date":"2026-02-23","debt_usd":2165892,"collateral_btc":141.70648762080953,"ilks":3},{"date":"2026-02-24","debt_usd":2165892,"collateral_btc":141.70648762080953,"ilks":3},{"date":"2026-02-25","debt_usd":2165892,"collateral_btc":141.70648762080953,"ilks":3},{"date":"2026-02-26","debt_usd":2130391,"collateral_btc":140.68609762080953,"ilks":3},{"date":"2026-02-27","debt_usd":2130391,"collateral_btc":140.68609762080953,"ilks":3},{"date":"2026-02-28","debt_usd":2130391,"collateral_btc":140.68609762080953,"ilks":3},{"date":"2026-03-01","debt_usd":2130391,"collateral_btc":140.68609762080953,"ilks":3},{"date":"2026-03-02","debt_usd":2120283,"collateral_btc":140.21940311080954,"ilks":3},{"date":"2026-03-03","debt_usd":2120283,"collateral_btc":140.21940311080954,"ilks":3},{"date":"2026-03-04","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-05","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-06","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-07","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-08","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-09","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-10","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-11","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-12","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-13","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-14","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-15","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-16","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-17","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-18","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-19","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-20","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-21","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-22","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-23","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-24","debt_usd":2098075,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-25","debt_usd":2204218,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-26","debt_usd":2204218,"collateral_btc":139.34334252080953,"ilks":3},{"date":"2026-03-27","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-03-28","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-03-29","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-03-30","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-03-31","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-01","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-02","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-03","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-04","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-05","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-06","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-07","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-08","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-09","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-10","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-11","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-12","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-13","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-14","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-15","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-16","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-17","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-18","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-19","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-20","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-21","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-22","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-23","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-24","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-25","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-26","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-27","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-28","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-29","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-04-30","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-01","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-02","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-03","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-04","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-05","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-06","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-07","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-08","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-09","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-10","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-11","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-12","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-13","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-14","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-15","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-16","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-17","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-18","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-19","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-20","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-21","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-22","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-23","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-24","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-25","debt_usd":2204218,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-26","debt_usd":2250563,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-27","debt_usd":2250563,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-28","debt_usd":2250563,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-29","debt_usd":2250563,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-30","debt_usd":2250563,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-05-31","debt_usd":2250563,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-06-01","debt_usd":2250563,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-06-02","debt_usd":2244413,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-06-03","debt_usd":2244413,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-06-04","debt_usd":2244413,"collateral_btc":139.34334253002035,"ilks":3},{"date":"2026-06-05","debt_usd":2159681,"collateral_btc":138.85385080002035,"ilks":3},{"date":"2026-06-06","debt_usd":2162958,"collateral_btc":138.85385080002035,"ilks":3},{"date":"2026-06-07","debt_usd":2163076,"collateral_btc":138.85385080002035,"ilks":3},{"date":"2026-06-08","debt_usd":2163076,"collateral_btc":138.85385080002035,"ilks":3},{"date":"2026-06-09","debt_usd":2163076,"collateral_btc":138.85385080002035,"ilks":3},{"date":"2026-06-10","debt_usd":2163076,"collateral_btc":138.85385080002035,"ilks":3},{"date":"2026-06-11","debt_usd":2163076,"collateral_btc":138.85385080002035,"ilks":3},{"date":"2026-06-12","debt_usd":2163076,"collateral_btc":138.85385080002035,"ilks":3},{"date":"2026-06-13","debt_usd":2163076,"collateral_btc":138.85385080002035,"ilks":3},{"date":"2026-06-14","debt_usd":2163076,"collateral_btc":138.85385080002035,"ilks":3},{"date":"2026-06-15","debt_usd":2099303,"collateral_btc":136.96486952002036,"ilks":3},{"date":"2026-06-16","debt_usd":2099303,"collateral_btc":136.96486952002036,"ilks":3},{"date":"2026-06-17","debt_usd":2099303,"collateral_btc":136.96486952002036,"ilks":3},{"date":"2026-06-18","debt_usd":2099303,"collateral_btc":136.96486952002036,"ilks":3},{"date":"2026-06-19","debt_usd":2099303,"collateral_btc":136.96486952002036,"ilks":3},{"date":"2026-06-20","debt_usd":2099303,"collateral_btc":136.96486952002036,"ilks":3},{"date":"2026-06-21","debt_usd":2099303,"collateral_btc":136.96486952002036,"ilks":3},{"date":"2026-06-22","debt_usd":2099303,"collateral_btc":136.96486952002036,"ilks":3},{"date":"2026-06-23","debt_usd":2099303,"collateral_btc":136.96486952002036,"ilks":3},{"date":"2026-06-24","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-06-25","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-06-26","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-06-27","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-06-28","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-06-29","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-06-30","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-01","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-02","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-03","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-04","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-05","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-06","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-07","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-08","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-09","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-10","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-11","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-12","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-13","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-14","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-15","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-16","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-17","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-18","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-19","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-20","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-21","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-22","debt_usd":2099303,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-23","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-24","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-25","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-26","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-27","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-28","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-29","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-30","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-07-31","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-01","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-02","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-03","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-04","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-05","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-06","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-07","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-08","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-09","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-10","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-11","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-12","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-13","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-14","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-15","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-16","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-17","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-18","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-19","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-20","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-21","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-22","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-23","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-24","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-25","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-26","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-27","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-28","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-29","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-30","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-08-31","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-01","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-02","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-03","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-04","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-05","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-06","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-07","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-08","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-09","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-10","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-11","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-12","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-13","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-14","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-15","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-16","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-17","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-18","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-19","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-20","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-21","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-22","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-23","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-24","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-25","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-26","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-27","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-28","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-29","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-09-30","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-10-01","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-10-02","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-10-03","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-10-04","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-10-05","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-10-06","debt_usd":2138498,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-10-07","debt_usd":2199360,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-10-08","debt_usd":2199360,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-10-09","debt_usd":2199360,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-10-10","debt_usd":2199360,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-10-11","debt_usd":2199360,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-10-12","debt_usd":2199360,"collateral_btc":132.23029474002035,"ilks":3},{"date":"2026-10-13","debt_usd":2199360,"collateral_btc":132.23029474002035,"ilks":3}],"ilks":[{"ilk":"WBTC-C","debt_usd":1185422,"collateral_btc":71.73445027543164},{"ilk":"WBTC-A","debt_usd":820596,"collateral_btc":55.0095443842792},{"ilk":"WBTC-B","debt_usd":193343,"collateral_btc":5.486300080309509}],"note":"Minted against a named collateral in a vault, so the link is exact. The bitcoin vaults are nearly empty — the minted class publishes a far larger book, and almost none of it is bitcoin."},"auction":{"loans":21,"pairs":"WBTC/USDC","principal_usd":17421,"collateral_usd":39466,"collateral_btc":0.47261089,"avg_ltv":0.4574471653739989,"link":"exact — the collateral is escrowed by the protocol against the loan","disclosure":"Own-account: this book is currently predominantly the operator's own, and is not yet an independent market assessment.","series_absent_because":"A dated outstanding series would have to be reconstructed from origination and repayment. The tables hold the flow, not the stock, and a stock series invented from a flow one would be a different quantity wearing this one's name."},"corporate":{"outstanding_usd":26330129200,"instruments":21,"secured_on_bitcoin":[{"instrument_id":"riot_btc_facility","collateral_btc":5802,"outstanding_usd":200000000,"as_of":"2026-06-30"}],"largest":[{"instrument_id":"strategy_strc","instrument_type":"perpetual_preferred","ticker":"STRC","outstanding_usd":10489471000,"as_of":"2026-06-30","collateral_btc":null},{"instrument_id":"strategy_conv_2030b","instrument_type":"convertible_note","ticker":null,"outstanding_usd":2000000000,"as_of":"2026-06-30","collateral_btc":null},{"instrument_id":"strategy_conv_2029","instrument_type":"convertible_note","ticker":null,"outstanding_usd":1500000000,"as_of":"2026-06-30","collateral_btc":null},{"instrument_id":"strategy_strd","instrument_type":"perpetual_preferred","ticker":"STRD","outstanding_usd":1402422000,"as_of":"2026-06-30","collateral_btc":null},{"instrument_id":"strategy_strk","instrument_type":"perpetual_preferred","ticker":"STRK","outstanding_usd":1402074000,"as_of":"2026-06-30","collateral_btc":null},{"instrument_id":"strategy_strf","instrument_type":"perpetual_preferred","ticker":"STRF","outstanding_usd":1283969000,"as_of":"2026-06-30","collateral_btc":null}],"link":"financed BY bitcoin, never backed by it — no lien, no claim on the coins","other_currencies":[{"currency":"EUR","outstanding_native":857434625,"usd_equivalent":976933144,"usd_equivalent_basis":"issuer translation (2026-06-30); Federal Reserve H.10 rate 2026-10-02","instruments":7,"issuers":["strategy","blockchain_group"],"largest":[{"instrument_id":"strategy_stre","instrument_type":"perpetual_preferred","ticker":null,"outstanding_native":775000000,"as_of":"2026-06-30"},{"instrument_id":"capital_b_oca_b_02","instrument_type":"convertible_note","ticker":null,"outstanding_native":55279428,"as_of":"2026-09-14"},{"instrument_id":"capital_b_oca_a_05","instrument_type":"convertible_note","ticker":null,"outstanding_native":6500000,"as_of":"2026-09-14"},{"instrument_id":"capital_b_oca_a_03","instrument_type":"convertible_note","ticker":null,"outstanding_native":6000000,"as_of":"2026-09-14"},{"instrument_id":"capital_b_oca_b_04","instrument_type":"convertible_note","ticker":null,"outstanding_native":5045020,"as_of":"2026-09-14"},{"instrument_id":"capital_b_oca_a_04","instrument_type":"convertible_note","ticker":null,"outstanding_native":5000000,"as_of":"2026-09-14"}]},{"currency":"JPY","outstanding_native":31610000000,"usd_equivalent":200304163,"usd_equivalent_basis":"Federal Reserve H.10 rate 2026-10-02","instruments":2,"issuers":["metaplanet"],"largest":[{"instrument_id":"metaplanet_class_b","instrument_type":"perpetual_preferred","ticker":null,"outstanding_native":23610000000,"as_of":"2026-06-30"},{"instrument_id":"metaplanet_bond_20","instrument_type":"straight_bond","ticker":null,"outstanding_native":8000000000,"as_of":"2026-06-30"}]}],"other_currencies_note":"Corporate debt denominated in yen and euro, measured in its own currency and shown at a stated USD equivalent. It is NOT in outstanding_usd: this surface is BTC-USD credit, and non-USD debt is reported beside it the way on-chain EUR and CHF debt is — never summed into the dollar figure.","btc_backing":{"btc_price_usd":81734.48110599573,"btc_price_date":"2026-10-12","btc_price_source":"gavel_data_mainnet.btc_reference_daily (on-chain fixing)","fx_used":{"CHF":{"rate":1.2058362474375979,"as_of":"2026-10-02"},"EUR":{"rate":1.1259,"as_of":"2026-10-02"},"GBP":{"rate":1.3234,"as_of":"2026-10-02"},"JPY":{"rate":0.006336734047272036,"as_of":"2026-10-02"}},"issuers":[{"issuer_id":"strategy","display_name":"Strategy Inc","btc_holdings":843775,"btc_holdings_as_of":"2026-07-24","btc_holdings_source":"SEC EDGAR accession 0001050446-26-000044 (10-Q, period 2026-06-30, filed 2026-08-03), text: \"As of July 24, 2026, we held approximately 843,775 bitcoins\" — a post-period date the periodic report states. The latest-dated filed figure wins, whatever its form (operator; 2026-10-09); the period-end XBRL figure (846,000 at 2026-06-30) stays in the holdings history.","btc_value_usd":68965511795.21155,"registered_debt_usd":21291595000,"non_usd_debt":{"native":{"EUR":775000000},"usd_equivalent":884120000,"basis":"issuer translation where filed, else latest Federal Reserve H.10 rate"},"debt_all_currencies_usd":22175715000,"debt_as_of":"2026-06-30","instruments":11,"backing_ratio":3.1099566257598257,"debt_to_btc_pct":32.154789289245464,"denominator_complete":false},{"issuer_id":"metaplanet","display_name":"Metaplanet Inc.","btc_holdings":43000,"btc_holdings_as_of":"2026-08-18","btc_holdings_source":"https://contents.xj-storage.jp/xcontents/33500/c02155bd/0bd0/4333/ac51/6085aab46d18/140120260818522603.pdf (Super League notice, 2026-08-18): \"held 43,000 BTC as of August 18, 2026\". Same count at 2026-06-30 in the Q2 FY2026 Tanshin (https://contents.xj-storage.jp/xcontents/33500/ccef5126/8cc0/4501/b779/01892d97a274/140120260813519694.pdf). 2,100 BTC are to move in kind to Super League (a group subsidiary) in Q4 2026 — still inside the group.","btc_value_usd":3514582687.5578165,"registered_debt_usd":414000000,"non_usd_debt":{"native":{"JPY":31610000000},"usd_equivalent":200304163,"basis":"issuer translation where filed, else latest Federal Reserve H.10 rate"},"debt_all_currencies_usd":614304163.2342691,"debt_as_of":"2026-06-30","instruments":3,"backing_ratio":5.721241850378777,"debt_to_btc_pct":17.478722734536987,"denominator_complete":false},{"issuer_id":"mara","display_name":"MARA Holdings, Inc.","btc_holdings":26307,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001507605-26-000022 (10-Q, period 2026-06-30), NOTE 5 DIGITAL ASSETS: \"As of June 30, 2026 ... Quantity Cost Basis Fair Value Bitcoin 26,307 $ 1,889,537 $ 1,540,574\". READ, NOT DERIVED — this closes the pending below on its own terms: the count is absent from XBRL (CryptoAssetNumberOfUnits is untagged for this filer) but present in the filing's own table, so no division by a BTC close was needed. SCOPE: this is bitcoin HELD. The same table reports \"Bitcoin - receivable 9,270\" and \"Total bitcoin holdings 35,577\". The receivable is coin lent to counterparties and not in the company's possession, so it is deliberately EXCLUDED here; a backing ratio built on 35,577 would count collateral the issuer does not hold. Use 35,577 only where the intent is economic exposure, and say which is meant.","btc_value_usd":2150188994.4554296,"registered_debt_usd":3047201000,"non_usd_debt":null,"debt_all_currencies_usd":3047201000,"debt_as_of":"2026-08-04","instruments":7,"backing_ratio":0.7056275560606043,"debt_to_btc_pct":141.71782145000483,"denominator_complete":false},{"issuer_id":"strive","display_name":"Strive, Inc.","btc_holdings":19864,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001628280-26-054985 (10-Q, period 2026-06-30), R35 Digital Assets, at Fair Value — Investment of Digital Assets: \"Approximate number of bitcoin held 19,864\", aggregate fair value $1,164,639 thousand, \"Fair value per bitcoin $58,631\" — the three agree (19,864 x 58,631 = 1,164.6m). READ, NOT DERIVED.","btc_value_usd":1623573732.6894991,"registered_debt_usd":782950200,"non_usd_debt":null,"debt_all_currencies_usd":782950200,"debt_as_of":"2026-06-30","instruments":1,"backing_ratio":2.073661559431876,"debt_to_btc_pct":48.22387700883897,"denominator_complete":false},{"issuer_id":"riot","display_name":"Riot Platforms, Inc.","btc_holdings":11380,"btc_holdings_as_of":"2026-06-30","btc_holdings_source":"SEC EDGAR accession 0001104659-26-093448 (10-Q, period 2026-06-30, filed 2026-08-10), XBRL us-gaap:CryptoAssetNumberOfUnits, unit [item].","btc_value_usd":930138394.9862314,"registered_debt_usd":794383000,"non_usd_debt":null,"debt_all_currencies_usd":794383000,"debt_as_of":"2026-06-30","instruments":2,"backing_ratio":1.170894134172347,"debt_to_btc_pct":85.40481763595609,"denominator_complete":false},{"issuer_id":"blockchain_group","display_name":"Capital B (formerly The Blockchain Group)","btc_holdings":3525,"btc_holdings_as_of":"2026-09-14","btc_holdings_source":"https://cptlb.com/wp-content/uploads/2026/09/0vcKV41w13/20260914-Capital-B-CP-14-septembre-2026-EN-FINAL.pdf (press release, 2026-09-14): \"Capital B and its subsidiary Capital B Luxembourg SA hold a total of 3,525 BTC as part of the Bitcoin Treasury Company strategy\". Excludes \"an additional 61 BTC for its operational needs... segregated from its Bitcoin reserve\".","btc_value_usd":288114045.89863497,"registered_debt_usd":null,"non_usd_debt":{"native":{"EUR":82434625},"usd_equivalent":92813144,"basis":"issuer translation where filed, else latest Federal Reserve H.10 rate"},"debt_all_currencies_usd":92813144.2875,"debt_as_of":"2026-09-14","instruments":6,"backing_ratio":3.1042375313367976,"debt_to_btc_pct":32.21402969022682,"denominator_complete":false},{"issuer_id":"sequans","display_name":"Sequans Communications S.A.","btc_holdings":0,"btc_holdings_as_of":"2026-09-24","btc_holdings_source":"SEC EDGAR accession 0001383395-26-000110 (6-K, 2026-09-24), Exhibit 99.1: \"Sequans has sold the remaining 314 Bitcoin held on its balance sheet as of June 30, 2026, completing the treasury exit\". Zero from the announcement date; the latest-dated filed figure wins (operator; 2026-10-09).","btc_value_usd":0,"registered_debt_usd":null,"non_usd_debt":null,"debt_all_currencies_usd":null,"debt_as_of":null,"instruments":1,"backing_ratio":null,"debt_to_btc_pct":null,"denominator_complete":false}],"class":{"btc_holdings":947851,"btc_value_usd":77472109650.79916,"registered_debt_usd":26330129200,"debt_all_currencies_usd":27507366507.521767,"backing_ratio":2.8164131826147285,"debt_to_btc_pct":35.50615393269856},"definition":"debt_to_btc_pct is registered debt in EVERY currency, converted to USD (issuer translation where filed, else the latest Federal Reserve H.10 rate), over the market value of the bitcoin the issuer holds. registered_debt_usd is the USD-denominated part alone — the figure the BTC-USD composition sums; yen and euro debt sits beside it in non_usd_debt. Same construction as a loan-to-value, which is what makes it comparable to the secured classes on this surface.","not_an_ltv":"THIS IS NOT AN LTV. The bitcoin secures nothing: these instruments are unsecured and no holder has a lien or any claim on the coins, so none of it can be seized on default. The corporate class is financed BY bitcoin, never backed by it (spec section 9.5, C11). Read against a secured LTV it is a comparison of leverage, not of collateral.","denominator_caveat":"The debt is the REGISTERED stack, in every currency. For Strategy that is its six convertible notes (6.71bn), the four USD preferreds and, since 2026-09-22, the EUR-denominated STRE preferred at the issuer's own USD translation. Still outside it: 39.8m of other long-term secured debt, so backing_ratio is a CEILING and debt_to_btc_pct a FLOOR by that much.","as_of_caveat":"The three inputs carry three different as-of dates - holdings from the latest filing, debt from the latest 10-Q, price from today. The ratio is therefore a current valuation of a quarterly-observed balance sheet, not a daily series, and each date is published above."},"reported_note":"Outstanding amounts are as each issuer last reported them (most at 2026-06-30), not a daily observation. They are NOT drawn as a dated series: one reported figure carried across a year would assert a level that was constant, and it was not."},"posted_card":{"desks":13,"cards":33,"debt_usd":2419791897,"debt_usd_low":1623372397,"debt_usd_high":6244211397,"debt_is_estimate":true,"debt_observed_usd":785435897,"debt_observed_desks":3,"debt_covers_desks":7,"desks_with_a_figure":10,"link":"bitcoin held in custody at the desk","disclosing":[{"desk":"blockfi","carded":true,"metrics":[{"metric":"loans_outstanding","value":0,"unit":"usd","as_of":"2026-09-16","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"reported_no_assurance","reporter":"Cleary Gottlieb, Global Restructuring Insights","source_url":"https://content.clearygottlieb.com/corporate/global-restructuring-insights/novel-issues-in-the-crypto-bankruptcy-cluster/index.html","quote":"provided for a wind-down of its business and continued pursuit of claims against 3AC and FTX for the benefit of creditors","observed_on":"2026-09-16","note":"NOT A GAP — A ZERO. The rate card this desk contributes was recovered from the Internet Archive and is dated 2021-01-26; it is a historical artefact, not an offer. Carrying it with no book size implied an unmeasured desk. The book is nil because the business was wound down, and that is a measurement."}],"book":{"metric":"loans_outstanding","value":0,"unit":"usd","as_of":"2026-09-16","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"reported_no_assurance","reporter":"Cleary Gottlieb, Global Restructuring Insights","source_url":"https://content.clearygottlieb.com/corporate/global-restructuring-insights/novel-issues-in-the-crypto-bankruptcy-cluster/index.html","quote":"provided for a wind-down of its business and continued pursuit of claims against 3AC and FTX for the benefit of creditors","observed_on":"2026-09-16","note":"NOT A GAP — A ZERO. The rate card this desk contributes was recovered from the Internet Archive and is dated 2021-01-26; it is a historical artefact, not an offer. Carrying it with no book size implied an unmeasured desk. The book is nil because the business was wound down, and that is a measurement."},"collateral_scope":"bitcoin","counts_as_bitcoin_credit":true},{"desk":"cantor","carded":true,"metrics":[{"metric":"loans_outstanding","value":447000000,"unit":"usd","as_of":"2026-09-16","value_low":100000000,"value_high":2000000000,"bounded":true,"method":"GEOMETRIC MIDPOINT of a bound spanning a factor of twenty. Lower: $100m, the FalconX loan, which is DISCLOSED and therefore drawn — a hard floor, not an inference. Maple closed a first tranche of unstated size on top of it, so the true floor is above $100m by an unknown amount. Upper: the $2bn programme. The arithmetic midpoint would be $1.05bn, ten times the only evidenced figure; the geometric mean is used and stated. Custody is Anchorage and Copper, which means the collateral is bitcoin and identifiable in principle — if either custodian publishes a segregated balance this row becomes an observation.","inputs":[{"unit":"usd","as_of":"2025-05-27","claim":"announced programme size (capacity)","quote":"$2 billion bitcoin-backed lending program","value":2000000000,"source_url":"https://www.coindesk.com/business/2025/05/27/wall-street-giant-cantor-debuts-bitcoin-lending-business-with-first-tranches-to-falconx-maple"},{"unit":"usd","as_of":"2025-05-27","claim":"first disclosed loan, to FalconX — drawn","quote":"First $100M Loan to FalconX With Anchorage, Copper as Custodians","value":100000000,"source_url":"https://thedefiant.io/news/cefi/cantor-fitzgerald-launches-2b-bitcoin-lending-first-100m-loan-to-falconx-copper-9aacd155"},{"unit":"usd","as_of":"2025-05-27","claim":"a second tranche to Maple Finance closed, size not stated","quote":"First Tranches to FalconX, Maple","value":0,"source_url":"https://www.coindesk.com/business/2025/05/27/wall-street-giant-cantor-debuts-bitcoin-lending-business-with-first-tranches-to-falconx-maple"}],"collateral_scope":"bitcoin","grade":"derived","reporter":"Aletheia Analytics, from the programme size and the disclosed first tranche","source_url":"https://www.coindesk.com/business/2025/05/27/wall-street-giant-cantor-debuts-bitcoin-lending-business-with-first-tranches-to-falconx-maple","quote":"FalconX reportedly secured a $100 million loan backed by Bitcoin as part of the first deals","observed_on":"2026-09-16","note":"The borrowers are themselves credit venues in this registry (maple_ethereum). ⚠ A future double-count risk: if Maple's on-chain book and Cantor's book are both counted, the same bitcoin is behind both — one is the wholesale leg of the other. Not a defect today because Cantor is not in any total; recorded so it cannot become one silently."},{"metric":"facility_size","value":2000000000,"unit":"usd","as_of":"2025-05-27","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"reported_no_assurance","reporter":"Bloomberg / CoinDesk, reporting the programme launch","source_url":"https://www.coindesk.com/business/2025/05/27/wall-street-giant-cantor-debuts-bitcoin-lending-business-with-first-tranches-to-falconx-maple","quote":"Wall Street Giant Cantor Debuts Bitcoin Lending Business With First Tranches to FalconX, Maple","observed_on":"2026-09-16","note":"⚠ NOT A LOAN BOOK. The programme is sized at $2bn; what is drawn against it is disclosed only for the first tranche."}],"book":{"metric":"loans_outstanding","value":447000000,"unit":"usd","as_of":"2026-09-16","value_low":100000000,"value_high":2000000000,"bounded":true,"method":"GEOMETRIC MIDPOINT of a bound spanning a factor of twenty. Lower: $100m, the FalconX loan, which is DISCLOSED and therefore drawn — a hard floor, not an inference. Maple closed a first tranche of unstated size on top of it, so the true floor is above $100m by an unknown amount. Upper: the $2bn programme. The arithmetic midpoint would be $1.05bn, ten times the only evidenced figure; the geometric mean is used and stated. Custody is Anchorage and Copper, which means the collateral is bitcoin and identifiable in principle — if either custodian publishes a segregated balance this row becomes an observation.","inputs":[{"unit":"usd","as_of":"2025-05-27","claim":"announced programme size (capacity)","quote":"$2 billion bitcoin-backed lending program","value":2000000000,"source_url":"https://www.coindesk.com/business/2025/05/27/wall-street-giant-cantor-debuts-bitcoin-lending-business-with-first-tranches-to-falconx-maple"},{"unit":"usd","as_of":"2025-05-27","claim":"first disclosed loan, to FalconX — drawn","quote":"First $100M Loan to FalconX With Anchorage, Copper as Custodians","value":100000000,"source_url":"https://thedefiant.io/news/cefi/cantor-fitzgerald-launches-2b-bitcoin-lending-first-100m-loan-to-falconx-copper-9aacd155"},{"unit":"usd","as_of":"2025-05-27","claim":"a second tranche to Maple Finance closed, size not stated","quote":"First Tranches to FalconX, Maple","value":0,"source_url":"https://www.coindesk.com/business/2025/05/27/wall-street-giant-cantor-debuts-bitcoin-lending-business-with-first-tranches-to-falconx-maple"}],"collateral_scope":"bitcoin","grade":"derived","reporter":"Aletheia Analytics, from the programme size and the disclosed first tranche","source_url":"https://www.coindesk.com/business/2025/05/27/wall-street-giant-cantor-debuts-bitcoin-lending-business-with-first-tranches-to-falconx-maple","quote":"FalconX reportedly secured a $100 million loan backed by Bitcoin as part of the first deals","observed_on":"2026-09-16","note":"The borrowers are themselves credit venues in this registry (maple_ethereum). ⚠ A future double-count risk: if Maple's on-chain book and Cantor's book are both counted, the same bitcoin is behind both — one is the wholesale leg of the other. Not a defect today because Cantor is not in any total; recorded so it cannot become one silently."},"collateral_scope":"bitcoin","counts_as_bitcoin_credit":true},{"desk":"celsius","carded":true,"metrics":[{"metric":"loans_outstanding","value":0,"unit":"usd","as_of":"2026-09-16","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"reported_no_assurance","reporter":"Cleary Gottlieb, Global Restructuring Insights","source_url":"https://content.clearygottlieb.com/corporate/global-restructuring-insights/novel-issues-in-the-crypto-bankruptcy-cluster/index.html","quote":"provided for a spin-off sale of its mining business to a new entity to be owned by its customers, and a wind-down of the rest of its business","observed_on":"2026-09-16","note":"Card dated 2022-05-11, recovered from the Internet Archive. Distributions to creditors continue; loan origination does not. Zero, exactly."}],"book":{"metric":"loans_outstanding","value":0,"unit":"usd","as_of":"2026-09-16","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"reported_no_assurance","reporter":"Cleary Gottlieb, Global Restructuring Insights","source_url":"https://content.clearygottlieb.com/corporate/global-restructuring-insights/novel-issues-in-the-crypto-bankruptcy-cluster/index.html","quote":"provided for a spin-off sale of its mining business to a new entity to be owned by its customers, and a wind-down of the rest of its business","observed_on":"2026-09-16","note":"Card dated 2022-05-11, recovered from the Internet Archive. Distributions to creditors continue; loan origination does not. Zero, exactly."},"collateral_scope":"bitcoin","counts_as_bitcoin_credit":true},{"desk":"galaxy","carded":false,"metrics":[{"metric":"collateral_held_against_cash_loans","value":786599000,"unit":"usd","as_of":"2026-06-30","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"unstated","grade":"reviewed_unaudited","reporter":"Galaxy Digital Inc. (SEC Form 10-Q)","source_url":"https://www.sec.gov/Archives/edgar/data/1859392/000185939226000091/glxy-20260630.htm","quote":"Collateral payable — Digital assets $ 786,599","observed_on":"2026-09-16","note":"⚠ NO LTV IS DERIVED FROM THIS. It is the obligation to return collateral received against the dollar loans, and borrowers may also post collateral that sits in other lines (assets posted as collateral, digital assets borrowed). Dividing the loan book by this line would produce a ratio the filing does not state and whose denominator is incomplete."},{"metric":"digital_asset_loans_receivable","value":786680000,"unit":"usd","as_of":"2026-06-30","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"unstated","grade":"reviewed_unaudited","reporter":"Galaxy Digital Inc. (SEC Form 10-Q)","source_url":"https://www.sec.gov/Archives/edgar/data/1859392/000185939226000091/glxy-20260630.htm","quote":"Digital asset loans receivable, net $ 786,680","observed_on":"2026-09-16","note":"Coins LENT OUT, not dollars borrowed against coins. Carried so the two halves of the desk cannot be added by mistake: a reader who sums this with the cash book has counted both sides of a lending business as one credit total."},{"metric":"interest_income_quarter","value":12000000,"unit":"usd","as_of":"2026-06-30","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"unstated","grade":"reviewed_unaudited","reporter":"Galaxy Digital Inc. (SEC Form 10-Q)","source_url":"https://www.sec.gov/Archives/edgar/data/1859392/000185939226000091/glxy-20260630.htm","quote":"Interest income related to the Company's Loans receivable was $ 12.0 million and $ 21.1 million for the three and six months ended June 30, 2026","observed_on":"2026-09-16","note":"Carried because it is the only rate-like figure the filing gives for this book: an implied yield can be read against the average balance, and it is NOT the desk's posted rate — Galaxy posts none, which is why the venue is filed bilateral_unpublished."},{"metric":"loans_outstanding","value":763356000,"unit":"usd","as_of":"2026-06-30","value_low":667936500,"value_high":858775500,"bounded":true,"method":"OPERATOR ASSUMPTION, NOT A DISCLOSURE (operator, 2026-09-21: \"a high BTC split\"). Galaxy files its dollar loan book ($954.2m at 2026-06-30) and states the collateral only as \"digital assets or other collateral\"; no bitcoin share is published in the 10-Q, its XBRL, the FY2025 10-K or the 2025 analyst-day deck. The bound applies an assumed bitcoin share of 70% (low) to 90% (high) to the filed book; the midpoint is the ARITHMETIC mean (80%), because the bound spans a factor of 1.3, not an order of magnitude. Galaxy's retail credit line accepts BTC, ETH and SOL, so the remainder is expected to be mostly ether. If Galaxy ever discloses a split, this row is replaced by an observation.","inputs":[{"unit":"usd","as_of":"2026-06-30","claim":"dollar loans receivable, current and non-current (filed)","quote":"Loans receivable, current and non-current $ 954,195","value":954195000,"source_url":"https://www.sec.gov/Archives/edgar/data/1859392/000185939226000091/glxy-20260630.htm"},{"unit":"usd","as_of":"2026-06-30","claim":"digital-asset collateral payable against those loans (filed)","quote":"Collateral payable — Digital assets $ 786,599","value":786599000,"source_url":"https://www.sec.gov/Archives/edgar/data/1859392/000185939226000091/glxy-20260630.htm"},{"unit":"pct","as_of":"2026-09-21","claim":"bitcoin share of collateral — OPERATOR ASSUMPTION, low","quote":"operator: treat Galaxy like Cantor and Strike, with a high BTC split","value":70,"source_url":null},{"unit":"pct","as_of":"2026-09-21","claim":"bitcoin share of collateral — OPERATOR ASSUMPTION, high","quote":"operator: treat Galaxy like Cantor and Strike, with a high BTC split","value":90,"source_url":null}],"collateral_scope":"bitcoin","grade":"derived","reporter":"Aletheia Analytics, from the filed loan book and an operator assumption on its bitcoin share","source_url":"https://www.sec.gov/Archives/edgar/data/1859392/000185939226000091/glxy-20260630.htm","quote":"Loans receivable, current and non-current $ 954,195","observed_on":"2026-09-21","note":"Galaxy is not carded (terms are bilateral, unpublished), so it adds a book to the posted-card segment without adding a rate. The 095 row loans_receivable_cash stays as the filed figure beside this one."},{"metric":"loans_receivable_cash","value":954195000,"unit":"usd","as_of":"2026-06-30","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"unstated","grade":"reviewed_unaudited","reporter":"Galaxy Digital Inc. (SEC Form 10-Q)","source_url":"https://www.sec.gov/Archives/edgar/data/1859392/000185939226000091/glxy-20260630.htm","quote":"Loans receivable, current and non-current $ 954,195","observed_on":"2026-09-16","note":"Dollars lent against digital-asset collateral — the side of Galaxy's book that is credit in this product's sense. Accession 0001859392-26-000091, period 2026-06-30. Scheduled repayment: $927,180k in the remainder of 2026, the rest through 2030."}],"book":{"metric":"loans_outstanding","value":763356000,"unit":"usd","as_of":"2026-06-30","value_low":667936500,"value_high":858775500,"bounded":true,"method":"OPERATOR ASSUMPTION, NOT A DISCLOSURE (operator, 2026-09-21: \"a high BTC split\"). Galaxy files its dollar loan book ($954.2m at 2026-06-30) and states the collateral only as \"digital assets or other collateral\"; no bitcoin share is published in the 10-Q, its XBRL, the FY2025 10-K or the 2025 analyst-day deck. The bound applies an assumed bitcoin share of 70% (low) to 90% (high) to the filed book; the midpoint is the ARITHMETIC mean (80%), because the bound spans a factor of 1.3, not an order of magnitude. Galaxy's retail credit line accepts BTC, ETH and SOL, so the remainder is expected to be mostly ether. If Galaxy ever discloses a split, this row is replaced by an observation.","inputs":[{"unit":"usd","as_of":"2026-06-30","claim":"dollar loans receivable, current and non-current (filed)","quote":"Loans receivable, current and non-current $ 954,195","value":954195000,"source_url":"https://www.sec.gov/Archives/edgar/data/1859392/000185939226000091/glxy-20260630.htm"},{"unit":"usd","as_of":"2026-06-30","claim":"digital-asset collateral payable against those loans (filed)","quote":"Collateral payable — Digital assets $ 786,599","value":786599000,"source_url":"https://www.sec.gov/Archives/edgar/data/1859392/000185939226000091/glxy-20260630.htm"},{"unit":"pct","as_of":"2026-09-21","claim":"bitcoin share of collateral — OPERATOR ASSUMPTION, low","quote":"operator: treat Galaxy like Cantor and Strike, with a high BTC split","value":70,"source_url":null},{"unit":"pct","as_of":"2026-09-21","claim":"bitcoin share of collateral — OPERATOR ASSUMPTION, high","quote":"operator: treat Galaxy like Cantor and Strike, with a high BTC split","value":90,"source_url":null}],"collateral_scope":"bitcoin","grade":"derived","reporter":"Aletheia Analytics, from the filed loan book and an operator assumption on its bitcoin share","source_url":"https://www.sec.gov/Archives/edgar/data/1859392/000185939226000091/glxy-20260630.htm","quote":"Loans receivable, current and non-current $ 954,195","observed_on":"2026-09-21","note":"Galaxy is not carded (terms are bilateral, unpublished), so it adds a book to the posted-card segment without adding a rate. The 095 row loans_receivable_cash stays as the filed figure beside this one."},"collateral_scope":"bitcoin","counts_as_bitcoin_credit":true},{"desk":"ledn","carded":true,"metrics":[{"metric":"average_ltv","value":44.31,"unit":"pct","as_of":"2026-10-01","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"self_reported","reporter":"Ledn Open Book Report, figures reported by The Network Firm LLP (not an audit, review or attestation)","source_url":"https://www.ledn.io/open-book-report","quote":"\"calculatedLtv\":\"0.44312190805253802176\"","observed_on":"2026-10-02","note":"Read 2026-10-02 from the live Open Book Report, whose figures load from a third-party endpoint (por-tnf.huw-af7.workers.dev) that keeps no history; the page shows one snapshot at a time."},{"metric":"collateral_posted","value":21178.149522,"unit":"btc","as_of":"2026-10-01","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"self_reported","reporter":"Ledn Open Book Report, figures reported by The Network Firm LLP (not an audit, review or attestation)","source_url":"https://www.ledn.io/open-book-report","quote":"\"reportedCollateral\":\"21178.149522\"","observed_on":"2026-10-02","note":"Read 2026-10-02 from the live Open Book Report, whose figures load from a third-party endpoint (por-tnf.huw-af7.workers.dev) that keeps no history; the page shows one snapshot at a time."},{"metric":"loans_outstanding","value":785435897,"unit":"usd","as_of":"2026-10-01","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"self_reported","reporter":"Ledn Open Book Report, figures reported by The Network Firm LLP (not an audit, review or attestation)","source_url":"https://www.ledn.io/open-book-report","quote":"\"reportedOutstanding\":\"785435897\"","observed_on":"2026-10-02","note":"Read 2026-10-02 from the live Open Book Report, whose figures load from a third-party endpoint (por-tnf.huw-af7.workers.dev) that keeps no history; the page shows one snapshot at a time."},{"metric":"collateral_in_custody","value":100,"unit":"pct","as_of":"2026-09-01","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"reported_no_assurance","reporter":"The Network Firm LLP","source_url":"https://www.ledn.io/open-book-report","quote":"All BTC collateral is held in on-chain addresses and/or custodial accounts.","observed_on":"2026-09-16","note":"Bears on rehypothecation, which is a venue criterion this estate already records: the page states no client assets are lent out to third parties."},{"metric":"proof_of_reserves","value":1,"unit":"ratio","as_of":"2026-03-31","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"audited","reporter":"The Network Firm LLP","source_url":"https://www.ledn.io/open-book-report","quote":"Ledn retains assets in excess of 100% of client liabilities.","observed_on":"2026-09-16","note":"The only ATTESTED figure here, and it is two quarters behind the book metrics. It says reserves cover liabilities; it does not state a loan book size. Cadence: one attestation every two quarters."}],"book":{"metric":"loans_outstanding","value":785435897,"unit":"usd","as_of":"2026-10-01","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"self_reported","reporter":"Ledn Open Book Report, figures reported by The Network Firm LLP (not an audit, review or attestation)","source_url":"https://www.ledn.io/open-book-report","quote":"\"reportedOutstanding\":\"785435897\"","observed_on":"2026-10-02","note":"Read 2026-10-02 from the live Open Book Report, whose figures load from a third-party endpoint (por-tnf.huw-af7.workers.dev) that keeps no history; the page shows one snapshot at a time."},"collateral_scope":"bitcoin","counts_as_bitcoin_credit":true},{"desk":"nexo","carded":true,"metrics":[{"metric":"loans_outstanding","value":850000000,"unit":"usd","as_of":"2026-09-16","value_low":0,"value_high":1700000000,"bounded":true,"method":"UPPER BOUND ONLY, arithmetic midpoint. Nexo states a $1.7bn loan book on its own site and lends against dozens of assets; the bitcoin-collateralised part cannot exceed the whole and is not separately disclosed anywhere. The lower bound is therefore ZERO — not because the desk lends no bitcoin (its rate card prices BTC collateral at up to 50% LTV) but because no published constraint rules out any figure above zero. The midpoint is the arithmetic mean of a bound one of whose ends is unconstrained, and it is the weakest number in this table. It is published so the desk is not a blank, and it is marked all_collateral so it can never be summed into a bitcoin total.","inputs":[{"unit":"usd","as_of":"2026-09-16","claim":"whole loan book, all collateral","quote":"a $1.7+ billion loan book","value":1700000000,"source_url":"https://nexo.com/en-us"},{"unit":"usd","as_of":"2026-09-16","claim":"assets under management","quote":"$7+ billion in assets under management","value":7000000000,"source_url":"https://nexo.com/en-us"},{"unit":"pct","as_of":"2026-07-21","claim":"accepts BTC collateral at up to 50% LTV","quote":"rate card ingested into cefi_credit_rates, collateral_class btc","value":50,"source_url":"https://nexo.com/en-us"}],"collateral_scope":"all_collateral","grade":"derived","reporter":"Aletheia Analytics, from Nexo's own published figure","source_url":"https://nexo.com/en-us","quote":"With $7+ billion in assets under management and a $1.7+ billion loan book.","observed_on":"2026-09-16","note":"⚠ THE BITCOIN SHARE IS UNKNOWN AND IS NOT GUESSED. This row exists to bound the desk, not to enter the bitcoin bar. Nexo is the largest desk in this set by its own account and the single biggest reason the bitcoin credit total is a floor rather than a measurement."}],"book":{"metric":"loans_outstanding","value":850000000,"unit":"usd","as_of":"2026-09-16","value_low":0,"value_high":1700000000,"bounded":true,"method":"UPPER BOUND ONLY, arithmetic midpoint. Nexo states a $1.7bn loan book on its own site and lends against dozens of assets; the bitcoin-collateralised part cannot exceed the whole and is not separately disclosed anywhere. The lower bound is therefore ZERO — not because the desk lends no bitcoin (its rate card prices BTC collateral at up to 50% LTV) but because no published constraint rules out any figure above zero. The midpoint is the arithmetic mean of a bound one of whose ends is unconstrained, and it is the weakest number in this table. It is published so the desk is not a blank, and it is marked all_collateral so it can never be summed into a bitcoin total.","inputs":[{"unit":"usd","as_of":"2026-09-16","claim":"whole loan book, all collateral","quote":"a $1.7+ billion loan book","value":1700000000,"source_url":"https://nexo.com/en-us"},{"unit":"usd","as_of":"2026-09-16","claim":"assets under management","quote":"$7+ billion in assets under management","value":7000000000,"source_url":"https://nexo.com/en-us"},{"unit":"pct","as_of":"2026-07-21","claim":"accepts BTC collateral at up to 50% LTV","quote":"rate card ingested into cefi_credit_rates, collateral_class btc","value":50,"source_url":"https://nexo.com/en-us"}],"collateral_scope":"all_collateral","grade":"derived","reporter":"Aletheia Analytics, from Nexo's own published figure","source_url":"https://nexo.com/en-us","quote":"With $7+ billion in assets under management and a $1.7+ billion loan book.","observed_on":"2026-09-16","note":"⚠ THE BITCOIN SHARE IS UNKNOWN AND IS NOT GUESSED. This row exists to bound the desk, not to enter the bitcoin bar. Nexo is the largest desk in this set by its own account and the single biggest reason the bitcoin credit total is a floor rather than a measurement."},"collateral_scope":"all_collateral","counts_as_bitcoin_credit":false,"excluded_because":"this figure is the desk's WHOLE loan book across every asset it lends against, and no bitcoin share is published — so it bounds this desk's bitcoin credit from above and is not added to a bitcoin total."},{"desk":"salt","carded":true,"metrics":[{"metric":"loans_outstanding","value":45000000,"unit":"usd","as_of":"2026-09-16","value_low":10000000,"value_high":200000000,"bounded":true,"method":"ANCHORED ON THE LAST FILED FIGURE, WIDENED FOR FIVE YEARS OF SILENCE. The 2021 10-K puts the book at $63.4m. The desk still operates and still posts a ten-row rate card, so it is not zero; it employs 46 people, which is not the headcount of a billion-dollar book. The bound runs $10m to $200m — roughly one sixth to three times the last filed figure — and the midpoint sits slightly BELOW the 2021 anchor, because the desk has neither filed nor announced since, and a lender that grew materially usually says so. ⚠ This is the weakest kind of estimate in this table: a stale anchor and a headcount. It is marked derived and bounded for that reason.","inputs":[{"unit":"usd","as_of":"2021-12-31","claim":"last filed loan book","quote":"total collateralized loans of $63,398,634","value":63398634,"source_url":"https://www.sec.gov/Archives/edgar/data/1686400/000143774922015762/slbc20211231_10k.htm"},{"unit":"count","as_of":"2026-05-31","claim":"employees, as a scale check","quote":"As of May 31, 2026, SALT Lending has 46 employees","value":46,"source_url":"https://tracxn.com/d/companies/salt-lending/__JSqUk52XyJDDff9XjxKR53brgKlKxA3jvN-xHH5lQRg"},{"unit":"count","as_of":"2026-07-21","claim":"still posts a live rate card (10 rows, BTC collateral)","quote":"rate card ingested into cefi_credit_rates, collateral_class btc","value":10,"source_url":"https://saltlending.com/"}],"collateral_scope":"all_collateral","grade":"derived","reporter":"Aletheia Analytics, from the 2021 filing and the desk's current scale","source_url":"https://www.sec.gov/Archives/edgar/data/1686400/000143774922015762/slbc20211231_10k.htm","quote":"total collateralized loans of $63,398,634, with total collateral received valued at $159,171,275","observed_on":"2026-09-16","note":"SALT is the only desk here that has ever filed a loan book with the SEC. That it is five years old is the finding."}],"book":{"metric":"loans_outstanding","value":45000000,"unit":"usd","as_of":"2026-09-16","value_low":10000000,"value_high":200000000,"bounded":true,"method":"ANCHORED ON THE LAST FILED FIGURE, WIDENED FOR FIVE YEARS OF SILENCE. The 2021 10-K puts the book at $63.4m. The desk still operates and still posts a ten-row rate card, so it is not zero; it employs 46 people, which is not the headcount of a billion-dollar book. The bound runs $10m to $200m — roughly one sixth to three times the last filed figure — and the midpoint sits slightly BELOW the 2021 anchor, because the desk has neither filed nor announced since, and a lender that grew materially usually says so. ⚠ This is the weakest kind of estimate in this table: a stale anchor and a headcount. It is marked derived and bounded for that reason.","inputs":[{"unit":"usd","as_of":"2021-12-31","claim":"last filed loan book","quote":"total collateralized loans of $63,398,634","value":63398634,"source_url":"https://www.sec.gov/Archives/edgar/data/1686400/000143774922015762/slbc20211231_10k.htm"},{"unit":"count","as_of":"2026-05-31","claim":"employees, as a scale check","quote":"As of May 31, 2026, SALT Lending has 46 employees","value":46,"source_url":"https://tracxn.com/d/companies/salt-lending/__JSqUk52XyJDDff9XjxKR53brgKlKxA3jvN-xHH5lQRg"},{"unit":"count","as_of":"2026-07-21","claim":"still posts a live rate card (10 rows, BTC collateral)","quote":"rate card ingested into cefi_credit_rates, collateral_class btc","value":10,"source_url":"https://saltlending.com/"}],"collateral_scope":"all_collateral","grade":"derived","reporter":"Aletheia Analytics, from the 2021 filing and the desk's current scale","source_url":"https://www.sec.gov/Archives/edgar/data/1686400/000143774922015762/slbc20211231_10k.htm","quote":"total collateralized loans of $63,398,634, with total collateral received valued at $159,171,275","observed_on":"2026-09-16","note":"SALT is the only desk here that has ever filed a loan book with the SEC. That it is five years old is the finding."},"collateral_scope":"all_collateral","counts_as_bitcoin_credit":false,"excluded_because":"this figure is the desk's WHOLE loan book across every asset it lends against, and no bitcoin share is published — so it bounds this desk's bitcoin credit from above and is not added to a bitcoin total."},{"desk":"strike","carded":true,"metrics":[{"metric":"loans_outstanding","value":324000000,"unit":"usd","as_of":"2026-09-16","value_low":50000000,"value_high":2100000000,"bounded":true,"method":"GEOMETRIC MIDPOINT of a bound spanning a factor of forty-two. Upper: the $2.1bn facility, which is the most the desk can have lent through it. Lower: $50m, on the ground that the desk publishes a rate tier for loans above $5,000,000 — a desk does not price a tier it has no book in, and ten such loans is the smallest book consistent with maintaining that tier. The arithmetic midpoint of this bound would be $1.08bn, which sits an order of magnitude above the only figure actually evidenced; the geometric mean is used for that reason and is stated here rather than assumed.","inputs":[{"unit":"usd","as_of":"2026-04-29","claim":"announced credit facility (capacity, not drawn)","quote":"Strike has secured a $2.1 billion credit facility","value":2100000000,"source_url":"https://bitcoinmagazine.com/news/strike-ceo-jack-mallers-bitcoin-conference"},{"unit":"usd","as_of":"2026-04-29","claim":"prices a rate tier for loans above $5m, implying a book at that size","quote":"approximately 10.5% APR for loans under $250,000 to approximately 7.49% APR for loans above $5 million","value":5000000,"source_url":"https://bitcoinmagazine.com/news/strike-ceo-jack-mallers-bitcoin-conference"}],"collateral_scope":"bitcoin","grade":"derived","reporter":"Aletheia Analytics, from Strike's announced facility and rate tiers","source_url":"https://bitcoinmagazine.com/news/strike-ceo-jack-mallers-bitcoin-conference","quote":"Strike has secured a $2.1 billion credit facility","observed_on":"2026-09-16","note":"Strike announced a lending Proof-of-Reserves at the same conference. If that publishes a balance, this row is replaced by an observation and this estimate is deleted rather than kept beside it."},{"metric":"facility_size","value":2100000000,"unit":"usd","as_of":"2026-04-29","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"reported_no_assurance","reporter":"Bitcoin Magazine, reporting Jack Mallers at Bitcoin 2026","source_url":"https://bitcoinmagazine.com/news/strike-ceo-jack-mallers-bitcoin-conference","quote":"Strike has secured a $2.1 billion credit facility","observed_on":"2026-09-16","note":"⚠ NOT A LOAN BOOK. This is the capacity Strike says it has to lend, and the drawn balance is not disclosed. Carried under `facility_size` so no aggregate over `loans_outstanding` can reach it. It is the upper bound of the estimate row below."}],"book":{"metric":"loans_outstanding","value":324000000,"unit":"usd","as_of":"2026-09-16","value_low":50000000,"value_high":2100000000,"bounded":true,"method":"GEOMETRIC MIDPOINT of a bound spanning a factor of forty-two. Upper: the $2.1bn facility, which is the most the desk can have lent through it. Lower: $50m, on the ground that the desk publishes a rate tier for loans above $5,000,000 — a desk does not price a tier it has no book in, and ten such loans is the smallest book consistent with maintaining that tier. The arithmetic midpoint of this bound would be $1.08bn, which sits an order of magnitude above the only figure actually evidenced; the geometric mean is used for that reason and is stated here rather than assumed.","inputs":[{"unit":"usd","as_of":"2026-04-29","claim":"announced credit facility (capacity, not drawn)","quote":"Strike has secured a $2.1 billion credit facility","value":2100000000,"source_url":"https://bitcoinmagazine.com/news/strike-ceo-jack-mallers-bitcoin-conference"},{"unit":"usd","as_of":"2026-04-29","claim":"prices a rate tier for loans above $5m, implying a book at that size","quote":"approximately 10.5% APR for loans under $250,000 to approximately 7.49% APR for loans above $5 million","value":5000000,"source_url":"https://bitcoinmagazine.com/news/strike-ceo-jack-mallers-bitcoin-conference"}],"collateral_scope":"bitcoin","grade":"derived","reporter":"Aletheia Analytics, from Strike's announced facility and rate tiers","source_url":"https://bitcoinmagazine.com/news/strike-ceo-jack-mallers-bitcoin-conference","quote":"Strike has secured a $2.1 billion credit facility","observed_on":"2026-09-16","note":"Strike announced a lending Proof-of-Reserves at the same conference. If that publishes a balance, this row is replaced by an observation and this estimate is deleted rather than kept beside it."},"collateral_scope":"bitcoin","counts_as_bitcoin_credit":true},{"desk":"tether","carded":false,"metrics":[{"metric":"loans_outstanding","value":13453749726,"unit":"usd","as_of":"2026-06-30","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"unstated","grade":"reviewed_unaudited","reporter":"Tether International, S.A. de C.V.; assurance BDO Advisory Services S.r.l., Milan, 31 July 2026","source_url":"https://assets.ctfassets.net/vyse88cgwfbl/2kYf7r64h3tzwiu6F0CbUB/2997abd2f11ecea74a21528048b50707/Opinion___Report_-_Tether_International_Financial_Figure_30-06-2026.pdf","quote":"7. Secured Loans 13,453,749,726","observed_on":"2026-10-05","note":"ISAE 3000 (Revised) reasonable-assurance attestation on management's report: an attestation, not a financial-statement audit, filed under the closest grade the vocabulary holds. Collateral per the report: 'loans over collateralized by assets'; bitcoin not named. Licence class 1 (a public primary record). Checked against the PDF 2026-10-05."}],"book":{"metric":"loans_outstanding","value":13453749726,"unit":"usd","as_of":"2026-06-30","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"unstated","grade":"reviewed_unaudited","reporter":"Tether International, S.A. de C.V.; assurance BDO Advisory Services S.r.l., Milan, 31 July 2026","source_url":"https://assets.ctfassets.net/vyse88cgwfbl/2kYf7r64h3tzwiu6F0CbUB/2997abd2f11ecea74a21528048b50707/Opinion___Report_-_Tether_International_Financial_Figure_30-06-2026.pdf","quote":"7. Secured Loans 13,453,749,726","observed_on":"2026-10-05","note":"ISAE 3000 (Revised) reasonable-assurance attestation on management's report: an attestation, not a financial-statement audit, filed under the closest grade the vocabulary holds. Collateral per the report: 'loans over collateralized by assets'; bitcoin not named. Licence class 1 (a public primary record). Checked against the PDF 2026-10-05."},"collateral_scope":"unstated","counts_as_bitcoin_credit":false,"excluded_because":"the source states the collateral only as \"digital assets\": no bitcoin share is disclosed anywhere in it, so this book is not added to a bitcoin-backed total."},{"desk":"two_prime","carded":false,"metrics":[{"metric":"loans_outstanding_single_borrower","value":300000000,"unit":"usd","as_of":"2026-08-04","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"reviewed_unaudited","reporter":"MARA Holdings 10-Q (borrower), subsequent-event note","source_url":"https://www.sec.gov/Archives/edgar/data/1507605/000150760526000022/mara-20260630.htm","quote":"The Two Prime Loan Term Sheet provides for a fixed term loan of $300.0 million (the \"Two Prime Loan\"), which has been fully drawn.","observed_on":"2026-10-05","note":"One borrower, not Two Prime's book. MARA's facility is already corporate instrument mara_twoprime_2028; a total that added this row would count it twice."},{"metric":"originations_cumulative","value":2550000000,"unit":"usd","as_of":"2025-09-30","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"self_reported","reporter":"Two Prime Lending Limited","source_url":"https://twoprime.com/resources/news/two-prime-q3-2025-loan-volume","quote":"Since launching its lending service line in March 2024, the company has issued more than $2.55 billion in loans and credit facilities","observed_on":"2026-10-05","note":"'more than' = floor. Never a book: debt-by-collateral reads only loans_outstanding / loans_receivable_cash."},{"metric":"originations_quarter","value":827000000,"unit":"usd","as_of":"2025-09-30","value_low":null,"value_high":null,"bounded":false,"method":null,"inputs":null,"collateral_scope":"bitcoin","grade":"self_reported","reporter":"Two Prime Lending Limited","source_url":"https://twoprime.com/resources/news/two-prime-q3-2025-loan-volume","quote":"issued a total of $827 million in bitcoin-backed loans and credit facilities in Q3 2025","observed_on":"2026-10-05","note":"Headline calls it 'total committed loan volume' - includes undrawn committed facilities. Never a book: debt-by-collateral reads only loans_outstanding / loans_receivable_cash."}],"book":null,"collateral_scope":"bitcoin","counts_as_bitcoin_credit":false},{"desk":"xapo","carded":true,"metrics":[{"metric":"loans_outstanding","value":100000000,"unit":"usd","as_of":"2026-09-16","value_low":20000000,"value_high":500000000,"bounded":true,"method":"ANCHORED, NOT INTERPOLATED. The one hard figure is $100m of member allocations to the BTC Credit Fund in its initial phase — capital available to lend, reported. The bound runs 0.2x to 5x that: the low end because allocated capital is not fully deployed on day one, the high end because Xapo is a licensed bank that may also lend from its own balance sheet, and the fund is described as expanding. The midpoint is the anchor itself, which is the only figure with a source; the bound expresses how much is unknown around it rather than adding precision to it.","inputs":[{"unit":"usd","as_of":"2026-09-16","claim":"BTC Credit Fund initial member allocations","quote":"The Xapo BTC Credit Fund reportedly attracted $100 million in member allocations during its initial phase","value":100000000,"source_url":"https://www.theblock.co/post/380636/xapo-bank-expands-bitcoin-credit-fund-develops-suite-of-btc-wealth-products"},{"unit":"usd","as_of":"2026-07-21","claim":"maximum loan size per member","quote":"access to USD loans of up to $1 million","value":1000000,"source_url":"https://www.theblock.co/post/346808/xapo-bank-bitcoin-backed-lending"},{"unit":"pct","as_of":"2026-07-21","claim":"maximum LTV offered, from the ingested rate card","quote":"conservative 20% to 40% loan-to-value ratios","value":40,"source_url":"https://www.theblock.co/post/346808/xapo-bank-bitcoin-backed-lending"}],"collateral_scope":"bitcoin","grade":"derived","reporter":"Aletheia Analytics, from the credit fund's disclosed initial allocations","source_url":"https://www.theblock.co/post/380636/xapo-bank-expands-bitcoin-credit-fund-develops-suite-of-btc-wealth-products","quote":"The Xapo BTC Credit Fund reportedly attracted $100 million in member allocations during its initial phase","observed_on":"2026-09-16","note":"Xapo publishes COMPOSITION without LEVEL — its 2025 Digital Wealth Report gives the term mix (52% of loans at 365 days) and a regional split (Europe 56%, LatAm 29%), and no book size. That is the opposite of most desks here and worth saying: the shape of its book is better disclosed than its size."}],"book":{"metric":"loans_outstanding","value":100000000,"unit":"usd","as_of":"2026-09-16","value_low":20000000,"value_high":500000000,"bounded":true,"method":"ANCHORED, NOT INTERPOLATED. The one hard figure is $100m of member allocations to the BTC Credit Fund in its initial phase — capital available to lend, reported. The bound runs 0.2x to 5x that: the low end because allocated capital is not fully deployed on day one, the high end because Xapo is a licensed bank that may also lend from its own balance sheet, and the fund is described as expanding. The midpoint is the anchor itself, which is the only figure with a source; the bound expresses how much is unknown around it rather than adding precision to it.","inputs":[{"unit":"usd","as_of":"2026-09-16","claim":"BTC Credit Fund initial member allocations","quote":"The Xapo BTC Credit Fund reportedly attracted $100 million in member allocations during its initial phase","value":100000000,"source_url":"https://www.theblock.co/post/380636/xapo-bank-expands-bitcoin-credit-fund-develops-suite-of-btc-wealth-products"},{"unit":"usd","as_of":"2026-07-21","claim":"maximum loan size per member","quote":"access to USD loans of up to $1 million","value":1000000,"source_url":"https://www.theblock.co/post/346808/xapo-bank-bitcoin-backed-lending"},{"unit":"pct","as_of":"2026-07-21","claim":"maximum LTV offered, from the ingested rate card","quote":"conservative 20% to 40% loan-to-value ratios","value":40,"source_url":"https://www.theblock.co/post/346808/xapo-bank-bitcoin-backed-lending"}],"collateral_scope":"bitcoin","grade":"derived","reporter":"Aletheia Analytics, from the credit fund's disclosed initial allocations","source_url":"https://www.theblock.co/post/380636/xapo-bank-expands-bitcoin-credit-fund-develops-suite-of-btc-wealth-products","quote":"The Xapo BTC Credit Fund reportedly attracted $100 million in member allocations during its initial phase","observed_on":"2026-09-16","note":"Xapo publishes COMPOSITION without LEVEL — its 2025 Digital Wealth Report gives the term mix (52% of loans at 365 days) and a regional split (Europe 56%, LatAm 29%), and no book size. That is the opposite of most desks here and worth saying: the shape of its book is better disclosed than its size."},"collateral_scope":"bitcoin","counts_as_bitcoin_credit":true}],"estimate_note":"⚠ THIS SEGMENT IS PART MEASUREMENT AND PART ESTIMATE, and the two are never merged into one figure. 3 of 7 counted desks publish or file a book; the rest are bounded from stated inputs, each carrying its own method and sources. The bar draws the midpoint; the range is what is actually known. Where a bound spans an order of magnitude the midpoint is the GEOMETRIC mean, because the arithmetic one sits near the top of such a bound and asserts a precision the bound does not have.","absent_because":"Every one of the 13 carded desks now carries a figure, and they are not the same kind of figure. Two are ZERO and exact — BlockFi and Celsius are in confirmed Chapter 11 wind-down and originate nothing. One publishes monthly (Ledn). One filed a book with the SEC, in 2021, and has not filed since (SALT). Two have announced FACILITIES rather than books — Cantor $2bn, Strike $2.1bn — which is capacity, not credit, and is carried under its own metric so no total can reach it. The rest are bounded estimates. ⚠ Coinbase is absent from this segment ON PURPOSE: it originates its retail bitcoin-backed loans into Morpho Blue markets on Base, so its book is already read on-chain every day and already counted in the named-wrapper segment. Adding it here would count it twice.","assurance_note":"NOT ONE FIGURE IN THIS SEGMENT IS AUDITED AS A CURRENT BOOK. Ledn's monthly metrics are computed by an independent CPA firm from the desk's own systems, and that firm disclaims assurance in terms: \"not an audit, review, or attestation engagement, nor does it express any form of assurance, opinion, or conclusion\". What IS attested at Ledn is a separate Proof of Reserves — assets at least client liabilities — as of 2026-03-31. SALT's $63.4m IS audited and is five years stale, which is a different problem wearing the better grade. Everything else is reported, announced or derived."},"collateral_rule":"asset_peg (migration 090): median |deviation| from BTC ≤ 50 bps over a year; admitted by operator ruling: UNIBTC (70 bps)","excluded_collateral":[{"symbol":"AHYPERBTC","basis":"measured","median_abs_bps":120,"reason":"not pegged to bitcoin — median deviation 120 bps over a year (rule: ≤ 50)"},{"symbol":"EXPVAULTBTC","basis":"unresolved","median_abs_bps":null,"reason":"peg to bitcoin not established — no usable price history"},{"symbol":"GLVWBTCUSDC","basis":"measured","median_abs_bps":10000,"reason":"not pegged to bitcoin — median deviation 10000 bps over a year (rule: ≤ 50)"},{"symbol":"GMBTC","basis":"unresolved","median_abs_bps":null,"reason":"peg to bitcoin not established — no usable price history"},{"symbol":"GOBTC","basis":"measured","median_abs_bps":246,"reason":"not pegged to bitcoin — median deviation 246 bps over a year (rule: ≤ 50)"},{"symbol":"MHYPERBTC","basis":"measured","median_abs_bps":208,"reason":"not pegged to bitcoin — median deviation 208 bps over a year (rule: ≤ 50)"},{"symbol":"SAVBTC","basis":"measured","median_abs_bps":545,"reason":"not pegged to bitcoin — median deviation 545 bps over a year (rule: ≤ 50)"},{"symbol":"SBTCD","basis":"unresolved","median_abs_bps":null,"reason":"peg to bitcoin not established — no usable price history"},{"symbol":"STBTC","basis":"measured","median_abs_bps":59,"reason":"not pegged to bitcoin — median deviation 59 bps over a year (rule: ≤ 50)"},{"symbol":"SWBTC","basis":"unresolved","median_abs_bps":null,"reason":"peg to bitcoin not established — no usable price history"},{"symbol":"TACBTC","basis":"unresolved","median_abs_bps":null,"reason":"peg to bitcoin not established — no usable price history"},{"symbol":"ULTRABTC","basis":"measured","median_abs_bps":99,"reason":"not pegged to bitcoin — median deviation 99 bps over a year (rule: ≤ 50)"},{"symbol":"XSOLVBTC","basis":"measured","median_abs_bps":68,"reason":"not pegged to bitcoin — median deviation 68 bps over a year (rule: ≤ 50)"},{"symbol":"ZKBTC","basis":"unresolved","median_abs_bps":null,"reason":"peg to bitcoin not established — no usable price history"},{"symbol":"PUMPBTC","basis":"unresolved","median_abs_bps":384,"reason":"peg to bitcoin not established — no usable price history"},{"symbol":"IBTC","basis":"unresolved","median_abs_bps":2892,"reason":"peg to bitcoin not established — no usable price history"},{"symbol":"MBTC","basis":"measured","median_abs_bps":317,"reason":"not pegged to bitcoin — median deviation 317 bps over a year (rule: ≤ 50)"},{"symbol":"VWMTWBTC","basis":"unresolved","median_abs_bps":218,"reason":"peg to bitcoin not established — no usable price history"},{"symbol":"WBTCNTT","basis":"unresolved","median_abs_bps":138,"reason":"peg to bitcoin not established — no usable price history"},{"symbol":"OBTC","basis":"unresolved","median_abs_bps":0,"reason":"peg to bitcoin not established — no usable price history"},{"symbol":"WCBTC","basis":"unresolved","median_abs_bps":0,"reason":"peg to bitcoin not established — no usable price history"},{"symbol":"HBTC","basis":"unresolved","median_abs_bps":null,"reason":"peg to bitcoin not established — no usable price history"}],"attribution_note":"A dollar of debt is attributable to a collateral asset only where the market IS a (collateral, loan) pair, or inside a pool where the account owing it posts only bitcoin. This endpoint counts those and states the rest.","attribution":[{"provider":"Board of Governors of the Federal Reserve System","text":"Source: Board of Governors of the Federal Reserve System (H.10).","url":"https://www.federalreserve.gov/releases/h10/","covers":"foreign exchange rates used to convert non-dollar amounts into US dollars"}]},"debt_by_collateral_unavailable":null,"lenses":[{"lens":"orientation","title":"Orientation — what this dataset is, and what it will not tell you","description":"Start here if you have not read this dataset before. What it measures, how to read its criteria and its absences, and the questions it deliberately does not answer.","tools":["list_venues","list_indicators","get_credit_state"],"does_not_do":["Does not rank venues, score them, or identify a \"best\" or \"cheapest\" one.","Does not tell the reader what to do with the data.","Does not fill an `unknown` from outside knowledge — if the dataset does not establish it, the answer is that it is not established here."],"also_available_as_prompt":"lens_orientation"},{"lens":"holder","title":"Holder — the cost of credit against bitcoin you already hold","description":"For someone holding BTC who is reading the credit market: what borrowing against it costs across venues and tenors, and on what terms.","tools":["get_credit_state","compare_venues","get_venue","list_venues","get_indicator"],"does_not_do":["Does not compute a borrow-versus-sell answer. The dataset holds one side of that comparison and none of the reader's circumstances.","Does not forecast a rate, a fill, a time-to-fill or a return.","Does not identify a cheapest venue. Rates of different kinds are not comparable without their labels, and the dataset publishes no ranking."],"also_available_as_prompt":"lens_holder"},{"lens":"treasurer","title":"Treasurer — tenor, maturity and counterparty structure","description":"For a business managing a runway against a bitcoin position: how credit is structured across tenors, and what the composition of each market looks like.","tools":["get_credit_state","get_credit_state_history","get_market_composition","get_venue","compare_venues"],"does_not_do":["Does not build a ladder, size a position, or model a runway. It presents the structure the dataset observes.","Does not treat a lookback window as a maturity, or aggregate across denominations — btc and usd books are different products and are never summed.","Does not forecast rates at any tenor."],"also_available_as_prompt":"lens_treasurer"},{"lens":"analyst","title":"Analyst — methodology, provenance and coverage","description":"For a professional researching this market: how every figure is constructed, what its sources are, and where the dataset states its own limits.","tools":["get_venue","list_venues","compare_venues","get_credit_state","get_credit_state_history","get_market_composition","get_market_flows","list_indicators","get_indicator","get_verification_bundle"],"does_not_do":["Does not present a figure without its provenance, and does not reconcile two figures the dataset publishes side by side with a coverage share between them.","Does not construct a composite, an index or a score from the served series.","Does not fill a gap in coverage with an estimate."],"also_available_as_prompt":"lens_analyst"},{"lens":"risk","title":"Risk — what stands behind a position, and what can change under it","description":"Pillar II, read directly: oracle dependency, liquidation mechanism, custody model and recourse, per venue, each with its source.","tools":["get_venue","list_venues","compare_venues","get_indicator"],"does_not_do":["Does not say any venue is safe, safer, sound, risky or unsafe. It reports what a venue does structurally; the reader judges.","Does not rank venues by risk, score them, or produce a risk rating — there is no such field and none will be added.","Does not infer a missing cell from a venue's reputation, size or category. `unknown` stays unknown.","Does not treat \"no incident recorded\" as \"no incident occurred\". Track record is what this dataset has observed, over the period it has observed it."],"also_available_as_prompt":"lens_risk"}],"lenses_unavailable":null,"yield_curve_fit":{"r_squared":0.5185227042610185,"model":"log_quadratic"},"yield_curve_unavailable":null}