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Rankings · refreshed at build

Top DeFi protocols by TVL

The largest DeFi protocols by total value locked (TVL) as of 25 September 2026 include Lido, Aave V3, SSV Network, Morpho Blue, Binance staked ETH. CEX custody balances are excluded. TVL measures assets deposited in smart contracts — it is not a safety score. Skip this table if you wanted exchange AUM.

Data source: DeFiLlama · Last refreshed 25 September 2026

The 100 largest DeFi protocols by TVL

Together they hold $247.19B. The top five account for 32.1% of that and the top ten for 48.4%.

DeFi protocols ranked by total value locked, 25 September 2026
# Protocol TVL
1 Lido $26.27B
2 Aave V3 $18.22B
3 SSV Network $14.05B
4 Morpho Blue $10.84B
5 Binance staked ETH $9.98B
6 WBTC $9.81B
7 Coinbase Bridge $8.37B
8 LayerZero V2 $7.95B
9 Hyperliquid Bridge $7.23B
10 EigenCloud $7.02B
11 Sky Lending $5.84B
12 Binance Bitcoin $5.74B
13 SparkLend $5.60B
14 ether.fi Stake $5.17B
15 Ethena USDe $4.90B
16 JustLend V1 $3.88B
17 Arbitrum Bridge $3.49B
18 USDT0 $3.46B
19 Babylon Protocol $3.40B
20 JustLend sTRX $3.33B
21 Base Bridge $3.03B
22 Maple $3.00B
23 Polygon Bridge $2.87B
24 JustCryptos $2.79B
25 Sentora Curator $2.67B
26 Steakhouse Financial $2.59B
27 Spark Liquidity Layer $2.55B
28 PancakeSwap AMM $1.94B
29 Veda $1.90B
30 Sanctum Validator LSTs $1.89B
31 CCIP $1.81B
32 Portal $1.78B
33 Uniswap V3 $1.69B
34 Gauntlet $1.59B
35 Compound V3 $1.51B
36 Kamino Lend $1.43B
37 Rocket Pool $1.40B
38 Venus Core Pool $1.35B
39 Raydium AMM $1.32B
40 Curve DEX $1.31B
41 USDD $1.28B
42 Grove Finance $1.26B
43 Spark Savings $1.26B
44 Concrete $1.26B
45 Pendle V2 $1.26B
46 Uniswap V4 $1.25B
47 Jito Liquid Staking $1.21B
48 Falcon Finance $1.21B
49 Binance Staked SOL $1.20B
50 Kinetiq kHYPE $1.17B
51 Jupiter Lend $1.16B
52 Kelp $1.15B
53 Uniswap V2 $1.08B
54 Unit $1.06B
55 StakeWise V3 $1.01B
56 Lista Lending $907.9M
57 Lista Liquid Staking $894.4M
58 Liquid Collective $858.4M
59 Robinhood Chain Bridge $813.0M
60 Jupiter Perpetual Exchange $810.0M
61 Kraken Bitcoin $797.2M
62 Tornado Cash $775.9M
63 Obol $727.4M
64 Fluid Lending $724.2M
65 Lombard LBTC $711.6M
66 Function FBTC $698.0M
67 Optimism Bridge $670.2M
68 Lighter Bridge $646.6M
69 Aave V4 $633.5M
70 mETH Protocol $629.0M
71 Jupiter Staked SOL $605.2M
72 Convex Finance $598.7M
73 Invesco USTB $547.0M
74 SolvBTC $540.4M
75 Bittensor dTAO $532.1M
76 Aster Bridge $527.4M
77 K3 Capital $508.7M
78 Lorenzo enzoBTC $507.1M
79 Coinbase Wrapped Staked ETH $506.4M
80 Ethena USDtb $475.8M
81 Symbiotic $474.7M
82 Merlins Seal $450.1M
83 Marinade Native $448.9M
84 ether.fi Liquid $447.3M
85 HyperLend Pooled $429.6M
86 Upshift $413.8M
87 RocketSwap Anubis $400.2M
88 World Chain $398.6M
89 Re $382.8M
90 Bedrock uniBTC $381.8M
91 PumpSwap $380.8M
92 Huma $377.3M
93 Defi Saver Asset Management $363.3M
94 tBTC $362.3M
95 Dolomite $360.1M
96 Euler V2 $353.4M
97 Circle Bitcoin $346.4M
98 Polymarket International $344.4M
99 PancakeSwap AMM V3 $340.7M
100 Anemoy Capital $334.0M

TVL is a snapshot metric — it changes continuously as users deposit and withdraw. CEX custody balances are excluded. Download the same table as CSV or the Frictionless Data Package. Use our protocol guides and live APY tools for deeper analysis. Curve, Convex, Resupply, Inverse Finance and Frax are covered in the lending hub even when they sit below the top TVL rows.

TVL by category

Where the value in these 100 protocols sits, grouped by DeFiLlama category.

Total value locked by protocol category, 25 September 2026
Category TVL Share Largest
Liquid Staking (15) $56.11B 22.7% Lido
Bridge (18) $54.52B 22.1% WBTC
Lending (15) $50.38B 20.4% Aave V3
Staking Pool (3) $15.23B 6.2% SSV Network
Restaking (2) $10.42B 4.2% EigenCloud
Dexs (10) $10.24B 4.1% PancakeSwap AMM
Canonical Bridge (5) $8.40B 3.4% Arbitrum Bridge
Onchain Capital Allocator (6) $7.83B 3.2% Spark Liquidity Layer
Risk Curators (4) $7.36B 3.0% Sentora Curator
CDP (2) $7.12B 2.9% Sky Lending
Basis Trading (2) $6.11B 2.5% Ethena USDe
Yield (3) $3.12B 1.3% Spark Savings

Where these protocols are deployed

Number of the 100 protocols with a deployment on each chain. 54 of them run on more than one chain, so the counts overlap.

  1. Ethereum 72
  2. Arbitrum 29
  3. Base 25
  4. Solana 24
  5. Binance 17
  6. Bitcoin 14
  7. Monad 12
  8. Avalanche 9
  9. Hyperliquid L1 9
  10. Optimism 7

Methodology and how to read TVL

Figures come from DeFiLlama's public protocol API and are fetched when this site is built, most recently on 25 September 2026. Centralised-exchange custody balances are removed, so the ranking only includes assets held in smart contracts. Rank is by total value locked across all chains a protocol reports.

TVL is the market value of deposited assets, so it moves with token prices as much as with deposits: a 20% fall in ETH lowers the TVL of an ETH-heavy protocol by a similar amount even if nobody withdraws. Assets can also be counted more than once — ETH staked with a liquid staking protocol and the resulting token deposited in a lending market appear in both protocols' totals.

TVL measures size and liquidity, not safety or yield. Large protocols have still been exploited, and a smaller protocol can be the better fit for a specific asset. Read what TVL does and does not tell you and run a protocol through the due-diligence checklist before depositing.