Ask about Delpho

Logo of DelphoDelpho

Total Value Locked$346,528

TVL by Chain

Hyperliquid L1$346,528

Protocol Information

Delpho is a CDP protocol on HyperEVM. Users deposit collateral to mint USDV, an overcollateralized stablecoin, at 0% interest. The protocol runs delta-neutral positions on Hyperliquid's perpetual markets and streams the resulting funding yield to sUSDV stakers.

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Category:CDP

Audits:

Methodology

TVL: TVL is user collateral deposited into Delpho, read via the vault's totalCollateral view which aggregates buffer, allocated, and executor-deployed amounts. Supported collateral tokens are enumerated from the Delpho config provider (getAllSupportedTokens). USDV (minted debt) and sUSDV (staked USDV) are excluded to avoid double-counting.View code on GitHub

Competitors

Reservoir Protocol ($70.12m)Felix CDP ($29.71m)Parallel Protocol V3 ($830,308)Hyperstable CDP ($160,407)HypeZion Finance ($53,572)Keiko Finance ($349.94)Sky Lending ($5.991b)USDD ($1.293b)Liquity V1 ($180.43m)crvUSD ($148.18m)

Frequently Asked Questions

What is Delpho's TVL?

Delpho currently has $346,528 in total value locked. TVL has decreased 30% over the past 30 days.

What chains does Delpho operate on?

Delpho operates on Hyperliquid L1. Hyperliquid L1 holds the largest share at 100%.

How does Delpho's TVL compare to similar protocols?

Among CDP protocols tracked by DefiLlama, Delpho ranks #61 by TVL. The category holds $8.197b across 198 protocols, and Delpho accounts for <0.1% of that total. Other leading protocols include Reservoir Protocol, Felix CDP, Parallel Protocol V3, Hyperstable CDP, HypeZion Finance, Keiko Finance, Sky Lending, USDD, Liquity V1, and crvUSD.