Vires Finance

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

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.

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

Vires Finance's governance or utility token carries a market capitalisation of 3,4 Mio. $ based on circulating supply at the latest DeFiLlama snapshot. Token market cap (3,4 Mio. $) and TVL (6,4 Mio. $) trade close together, giving a mcap/TVL multiple of 0.53× — broadly the range market participants treat as "fair" for an established DeFi protocol.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Wichtige Ereignisse, die von der DeFiLlama-Community markiert wurden — Protokoll-Launches, Exploits, Governance-Änderungen und Anreizprogramme.

1. Jul 29, 2022
   Bad debt settlement in USDN

Vires Finance is a Lending protocol that lets users supply assets as collateral, borrow against them, and earn interest from borrowers paying variable or stable rates. It is deployed on Waves. The codebase has been independently audited (1 report on file). DeFiLlama tracks 1 historical event for this protocol since 2022.

Vires Finance is a single-chain protocol, deployed exclusively on Waves — this concentrates execution risk but simplifies the trust model. Roughly 100% of its on-chain value sits on just three networks (Waves-borrowed, borrowed, Waves), so a fault on any one of them would affect a large slice of users. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts. Token market cap (3,4 Mio. $) and TVL (6,4 Mio. $) trade at a ratio of 0.53, in the range generally considered normal for an established DeFi protocol.

Verified external resources for Vires Finance — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Vires Finance is one of 7 Lending protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Aave V3, Morpho V1, JustLend, and 3 more. These peer protocols collectively secure 43,4 Mrd. $ in deposits, giving you a frame of reference for whether Vires Finance's own TVL is at the top, middle, or tail of the category.

Aave V3

TVL 26,2 Mrd. $ · 24h +0.16%

Morpho V1

TVL 7 Mrd. $ · 24h +0.57%

JustLend

TVL 3,4 Mrd. $ · 24h +1.86%

Maple

TVL 2,4 Mrd. $ · 24h -1.17%

SparkLend

TVL 2,2 Mrd. $ · 24h +3.62%

Kamino Lend

TVL 2,1 Mrd. $ · 24h -0.02%