LendFlare Review 2026: Fixed-Rate Loans on Curve LPs

LendFlare is a decentralized borrowing platform on Ethereum. Its main product is loans for Curve LP holders. Borrowers draw fixed-rate, fixed-term loans with high loan-to-value against their LP tokens, and the project says price moves in the collateral will not trigger liquidation.

Loans are paid out from Compound. Lenders who deposit liquidity through LendFlare on Compound earn interest, which the project says is among the highest of current lending platforms. DefiLlama files it under Lending and lists the LFT token, two audits, and a listing date of April 2022.

At about $1.2 million in TVL and a 7-day change of 0.3%, it is a small protocol. The homepage could not be fetched during research, so this review relies on DefiLlama data, the project description and search snippets. Treat claims about rates and loan terms as unverified until you check them in the app.

LendFlare connects two groups. Borrowers hold Curve LP tokens, which are receipts for liquidity deposited in Curve pools. They lock these tokens as collateral and take a loan at a fixed rate for a fixed term.

Lenders deposit liquidity through LendFlare, and that liquidity is placed on Compound. Loans are paid out from Compound, and lenders earn interest. The project says lenders receive one of the highest rates compared with other lending platforms. This is the project's own claim, and public sources include no rate data.

The project says borrowers face no liquidation risk from price fluctuations. Fixed terms and high LTV are how it differs from variable-rate, liquidation-based lending. A third-party snippet also describes it as a way to lever up Convex positions while still earning CRV, CVX and pool rewards. That framing is unverified here.

LendFlare's fee schedule is not published. That covers borrow rates, protocol fees and any performance cut on lender yield. The project describes loans as fixed-rate, but the actual rate is not stated.

Users would normally see current rates and terms in the app's borrowing and deposit screens before confirming a transaction. Ethereum gas fees apply on top of any protocol charges.

DefiLlama lists two audits for LendFlare, but the auditors, dates and findings are not public. An audit reduces risk without removing it. LendFlare also relies on Curve LP tokens and Compound, so a failure or exploit in either could affect users. Public sources mention no hacks or incidents, but they do not rule them out either.

The protocol appears to be non-custodial and interacts with your wallet through smart contracts, so you carry the contract risk. Public sources say nothing about regulatory status. The small TVL and the unreachable homepage during research are reasons to verify the current state of the project before committing funds.

LendFlare is for experienced DeFi users who already provide liquidity on Curve and want to borrow against LP tokens at a fixed rate. It may also interest lenders comfortable with layered smart-contract risk across LendFlare and Compound. It is not aimed at beginners or anyone needing deep liquidity.