Onchain Finance · 04 / 8
Borrow against collateral, earn on deposits
Lending protocols pool deposits and let borrowers draw loans against overcollateralized positions. Interest rates float with utilization, and anyone can liquidate an unhealthy loan for a bonus, so the protocol stays solvent without a credit desk.
Value locked · live
$51.5B
DefiLlama categories: Lending
Largest
Aave V3
33% of the category · $16.9B
Live from DefiLlama · 17 Oct 2026 20:19 UTC · refreshed hourly
Pooled markets
Many assets share one risk pool and one set of parameters.
Isolated markets
Each market is one collateral and one loan asset, so risk doesn't spread.
Curated vaults
A curator allocates deposits across isolated markets for a risk profile.
Ranked by value locked, live from DefiLlama.
| # | Name | TVL | Share | Chains |
|---|---|---|---|---|
| 01 | Aave V3 | $16.9B | 32.9% | 21 |
| 02 | Morpho Blue | $11.0B | 21.3% | 45 |
| 03 | SparkLend | $5.1B | 9.8% | 2 |
| 04 | JustLend V1 | $3.7B | 7.2% | 1 |
| 05 | Maple | $2.7B | 5.3% | 2 |
| 06 | Compound V3 | $1.4B | 2.7% | 10 |
| 07 | Kamino Lend | $1.3B | 2.5% | 1 |
| 08 | Venus Core Pool | $1.2B | 2.4% | 8 |
Bad debt
Collateral can fall faster than liquidators act.
Oracle risk
Wrong prices mean wrong liquidations, or none at all.
Bank-run liquidity
At 100% utilization, suppliers can't withdraw until loans are repaid.
On Tempo
Tempo Earn routes balances into strategies including collateralized lending. Deel's private wallet on Tempo uses a Morpho-powered Earn product.