Ask about Covenant · freeProtocol Information
Covenant is a tranching layer on Monad that converts any tokenized asset intofully-backed leverage and yield markets. Each market mints two synthetictokens against the base collateral: a Yield Coin (fixed-rate, debt-side)and a Leverage Coin (levered exposure to the underlying).
Audits:
Methodology
TVL: Value of all assets in the covenant contractView code on GitHubCompetitors
Frequently Asked Questions
What is Covenant's TVL?
Covenant currently has $40,680 in total value locked. TVL has increased 0.9% over the past 30 days.
What chains does Covenant operate on?
Covenant operates on Monad. Monad holds the largest share at 100%.
How does Covenant's TVL compare to similar protocols?
Among Lending protocols tracked by DefiLlama, Covenant ranks #260 by TVL. The category holds $52.745b across 519 protocols, and Covenant accounts for <0.1% of that total. Other leading protocols include Aave V3, Morpho Blue, Euler V2, Curvance, Gearbox, Neverland, Folks Finance xChain, Sumer.money, TownSquare Lending, and Peridot.