Everything Review 2026: One Reserve for Swaps, Loans and Orders

Everything is a DeFi protocol that merges an exchange, a money market and a leverage venue into one contract per token pair. Its whitepaper argues that these are three uses of one balance sheet rather than three separate businesses, and that splitting them leaves capital idle and adds composition risk.

DefiLlama lists it under Lending, on Arbitrum, Ethereum, BNB Chain and Base, with a token ticker of EV. TVL was about $311,459 with a 7-day change of 8.1%, and the listing date is 14 April 2026. The homepage links to a Beta (v1) app and a full whitepaper.

The pitch is aimed at the long tail of assets, where a siloed lending market struggles because liquidations must cross an external exchange it cannot control. Everything claims that owning the curve, the credit book and the liquidation path in one place lets it underwrite such assets. That remains a design argument. The protocol is young, TVL is small, and DefiLlama shows no audits.

Every token pair gets one contract. Liquidators, traders, lenders and borrowers all interact with the same reserve. Swaps price against a Curve-style invariant that concentrates liquidity around a moving price and re-centers itself when the pool is profitable enough to do so.

Borrowers post one token of the pair as collateral and borrow the other. Instead of reading an external oracle, the protocol uses an internal lagged price band that advances once per block and can only move so fast. Borrowable capacity is set tick by tick from the depth the curve could offer if that collateral had to be sold. Limit orders sit on the same tick grid and are filled by swaps passing through at the limit price.

If a loan becomes unsafe, a liquidation cascade runs before any operation that changes the book. It seizes collateral per tick and settles into the protocol's own curve. Losses are meant to hit the junior liquidity tranche first, while suppliers and user escrow rank senior. The whitepaper presents this as solvency by construction, but it remains a self-described design that needs real-world testing.

Specific fee levels are not published in the material reviewed. The whitepaper describes a dynamic imbalance fee inherited from Curve's design, plus a routing-invariant fee resolution and a utilization surcharge, but gives no numbers here.

Borrow interest follows an interest-rate shape the whitepaper credits to Aave. Users should check the live app and the full whitepaper for current swap fees, borrow rates and any protocol fee before committing funds. Normal network gas costs on each chain also apply.

DefiLlama lists no audits for Everything, and public sources reviewed do not mention any security review, bug bounty or incident history. The code is a combination of ported Curve logic and new credit and liquidation mechanisms, and the new parts are where risk is most likely to sit. The app is labelled Beta (v1).

The protocol is non-custodial in the sense that users interact with smart contracts directly, but that means smart-contract risk falls on depositors. The whitepaper's claims about solvency, bounded liquidation and no oracle dependence are the team's own and are not independently verified here. Regulatory status is not covered publicly. Treat any deposit as high risk and size it accordingly.

Everything suits experienced DeFi users and researchers who want to study or try a new AMM-lending hybrid and accept beta and unaudited-code risk. It is a poor fit for anyone who wants an established, heavily audited venue for large or long-term deposits.