Oxygen

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

Oxygen's governance or utility token carries a market capitalisation of 137 k $US based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token (137 k $US) above the protocol's on-chain TVL (55,9 k $US) — a mcap/TVL multiple of 2.45× implies investors are paying for expected future fee flows rather than current deposits alone.

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.

Oxygen 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 Solana.

Oxygen is a single-chain protocol, deployed exclusively on Solana — this concentrates execution risk but simplifies the trust model. Its token market cap (137 k $US) currently exceeds total value locked (55,9 k $US) — a mcap/TVL ratio of 2.45 suggests the market is pricing in more growth than current deposits support.

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

Oxygen 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 Md $US in deposits, giving you a frame of reference for whether Oxygen's own TVL is at the top, middle, or tail of the category.

Aave V3

TVL 26,2 Md $US · 24h +0.16%

Morpho V1

TVL 7 Md $US · 24h +0.57%

JustLend

TVL 3,4 Md $US · 24h +1.86%

Maple

TVL 2,4 Md $US · 24h -1.17%

SparkLend

TVL 2,2 Md $US · 24h +3.62%

Kamino Lend

TVL 2,1 Md $US · 24h -0.02%