Reserve Protocol

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.

TVL accounts for the underlying ERC20 collateral which back RTokens and Index Protocol folios. Staking includes both Reserve Protocol RSR staking and Index Protocol governance token staking.

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

Reserve Protocol's governance or utility token carries a market capitalisation of 109,3 M US$ based on circulating supply at the latest DeFiLlama snapshot. Token market cap (109,3 M US$) and TVL (118,1 M US$) trade close together, giving a mcap/TVL multiple of 0.93× — broadly the range market participants treat as "fair" for an established DeFi protocol. A further 8,5 M US$ sits in the protocol's native staking modules — these deposits are typically locked, vote-bonded, or earning a share of fees, and they reduce the freely circulating float that can hit the market.

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.

Reserve Protocol is a Indexes — a decentralised exchange where users swap assets against on-chain liquidity pools rather than a central order book. It is deployed across 4 chains, including Ethereum, Base, Arbitrum, Binance. The codebase has been independently audited (1 report on file).

Reserve Protocol operates on 4 networks (Ethereum, Base, Arbitrum, Binance), keeping its surface area narrower than chain-agnostic peers. Roughly 97% of its on-chain value sits on just three networks (Ethereum, staking, Ethereum-staking), 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 (109,3 M US$) and TVL (118,1 M US$) trade at a ratio of 0.93, in the range generally considered normal for an established DeFi protocol.

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

Reserve Protocol is one of 7 Indexes protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Mantle Index Four Fund, SoSoValue Indexes, Enzyme Finance, and 3 more. These peer protocols collectively secure 429,5 M US$ in deposits, giving you a frame of reference for whether Reserve Protocol's own TVL is at the top, middle, or tail of the category.

Mantle Index Four Fund

TVL 141,4 M US$ · 24h +1.11%

SoSoValue Indexes

TVL 96,9 M US$ · 24h +0.24%

Enzyme Finance

TVL 91,4 M US$ · 24h -0.28%

Bwatch

TVL 58,3 M US$ · 24h 0.00%

dHEDGE Vaults

TVL 26 M US$ · 24h +0.21%

Index Coop

TVL 15,4 M US$ · 24h -0.45%