Blend Pools V2

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.. TVL is calculated and totaled for all Blend V2 pools in the Blend reward zone.

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

Blend Pools V2 is published as a versioned release inside the Blend protocol family. Releases inside the same family typically share governance, brand, and large parts of the audit history, but each version can run materially different contract logic — a release labelled v2 or v3 is not just a UI refresh. Newer versions inside a family typically launch with their own audit cycle and parameter set, so do not assume the previous release's safety record carries over without checking the linked audit reports.

Fork lineage and parent-protocol relationships are tracked by DeFiLlama for security and audit-history attribution; a fork inherits the upstream design but not necessarily the upstream audits or governance.

Blend Pools V2 is a versioned release inside a larger protocol family. View the parent for combined TVL and all sibling versions.

Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.

1. Apr 30, 2025
   Listed on DeFiLlama

Blend Pools V2 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 Stellar. The codebase has been independently audited (1 report on file).

Blend Pools V2 is a single-chain protocol, deployed exclusively on Stellar — this concentrates execution risk but simplifies the trust model. Roughly 100% of its on-chain value sits on just three networks (Stellar, Stellar-borrowed, borrowed), so a fault on any one of them would affect a large slice of users. Price feeds come from a single oracle provider (Reflector); an outage or manipulation of that feed would propagate into every market the protocol prices. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts.

Verified external resources for Blend Pools V2 — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Blend Pools V2 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 $43.4B in deposits, giving you a frame of reference for whether Blend Pools V2's own TVL is at the top, middle, or tail of the category.

Aave V3

TVL $26.2B · 24h +0.16%

Morpho V1

TVL $7B · 24h +0.57%

JustLend

TVL $3.4B · 24h +1.86%

Maple

TVL $2.4B · 24h -1.17%

SparkLend

TVL $2.2B · 24h +3.62%

Kamino Lend

TVL $2.1B · 24h -0.02%