Snowball

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

Snowball's governance or utility token carries a market capitalisation of US$8460.5 based on circulating supply at the latest DeFiLlama snapshot. The token's market cap (US$8460.5) is small relative to deposits secured by the protocol (US$33.7万); a mcap/TVL multiple of 0.03× is sometimes read as a discount, though it can also reflect minimal fee accrual to the token. A further US$2708.7 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.

Snowball operates in the Yield category of DeFi. It is deployed on Avalanche. The codebase has been independently audited.

Snowball is a single-chain protocol, deployed exclusively on Avalanche — this concentrates execution risk but simplifies the trust model. Roughly 100% of its on-chain value sits on just three networks (Avalanche, Avalanche-staking, staking), so a fault on any one of them would affect a large slice of users. Its token market cap (US$8460.5) is small relative to TVL (US$33.7万) — a mcap/TVL ratio of 0.03 is often read as the token being structurally undervalued versus the activity it secures.

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

Snowball is one of 7 Yield protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Pendle, Spark Savings, Convex Finance, and 3 more. These peer protocols collectively secure US$51.9亿 in deposits, giving you a frame of reference for whether Snowball's own TVL is at the top, middle, or tail of the category.

Pendle

TVL US$22.7亿 · 24h +0.37%

Spark Savings

TVL US$14.2亿 · 24h +0.35%

Convex Finance

TVL US$7.2亿 · 24h +0.66%

Multipli.fi

TVL US$3.4亿 · 24h -0.01%

Strata Markets

TVL US$2.6亿 · 24h +0.70%

infiniFi

TVL US$1.8亿 · 24h +1.74%