Torches

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

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

1. Jul 2, 2022
   Listed on DeFiLlama

Torches 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 Kucoin. The codebase has been independently audited (1 report on file).

Torches is a single-chain protocol, deployed exclusively on Kucoin — this concentrates execution risk but simplifies the trust model. Roughly 100% of its on-chain value sits on just three networks (Kucoin, Kucoin-borrowed, borrowed), so a fault on any one of them would affect a large slice of users. Price discovery relies on 2 oracle providers (Internal, Pyth), which diversifies the data-feed surface but also expands the set of third parties users implicitly trust. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts.

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

Torches 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 Torches'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%