On-Chain Credit
Undercollateralized lending protocols: total value locked and the spread of protocol-reported credit yield over the stablecoin lending median.
Open offerings
0
of 0 published in this category
Live series
2
latest print 2026-10-31
On-Chain Credit Spread
68 bps
Daily · 2026-10-17
Opportunities · Pro
Open offerings and new filings
Flow · Pro
How much capital is forming, and how fast
Price
What the category's market is doing
68 bps
2026-10-17 · +7 bps vs prior print
Source: DefiLlama yields API and AltStreet Large-Pool Stablecoin Yield Median · link · CSV
METHODOLOGY
TVL-weighted APY across AltStreet's tracked on-chain private credit protocols (pools of at least $1,000,000 TVL with a reported APY), less the AltStreet Large-Pool Stablecoin Yield Median for the same date, expressed in basis points. Both legs are protocol-reported yields aggregated by DefiLlama, not audited realized returns — the spread is compensation for undercollateralized borrower risk as advertised, not as earned. The qualifying universe is highly concentrated: on 2026-08-15 it comprised four pools across two protocols with the largest protocol carrying roughly 99% of the weight, so per-protocol weights and a Herfindahl figure are written into every print and must be cited alongside the spread. The spread is not computed when the benchmark leg is more than three days stale. Coverage is AltStreet's tracked on-chain private credit universe, not all on-chain credit.
Outcome
What investors got versus what was promised
Not collected yet. The source is identified above and this section fills in when the collector ships.
Cited headlines
Licensed and headline-only sources
- rwa.xyzPrivate credit totals dashboard (API access unverified) · source