Protocol Information
Mage Protocol is the world's first money market built on Bitcoin's L2 scaling solution. Leveraging MerlinChain's ZK-rollup technology, Mage Protocol seamlessly enables users to lend, borrow, and earn, transforming idle Bitcoin assets into dynamic financial opportunities with unparalleled efficiency and security.
Category:Lending
Methodology
TVL: Counts the tokens locked in the contracts to be used as collateral to borrow or to earn yield. Borrowed coins are not counted towards the TVL, so only the coins actually locked in the contracts are counted. There's multiple reasons behind this but one of the main ones is to avoid inflating the TVL through cycled lending.