Rhea Lend Review 2026: NEAR's Pool-Based Lending Market

Rhea Lend is a decentralized, non-custodial lending platform on the NEAR blockchain. DefiLlama files it under Lending and describes it as a pool-based interest rate platform where users supply assets to earn interest and borrow against them. The description draws a comparison to Aave and Compound.

DefiLlama shows about $164 million in total value locked and a listing date of March 2022. TVL dropped 10.0% over the last seven days. Two audits are listed, though the auditors and findings are not given publicly.

The DefiLlama description names Burrow, which suggests Rhea Lend is a rebranded version of that protocol. The homepage metadata describes the wider Rhea brand as the first DEX on NEAR and a chain-abstracted liquidity solution. The protocol has a token listed as RHEA.

Rhea Lend is a pool-based money market. Lenders deposit tokens into a shared pool and earn interest. Borrowers draw from the pool after posting collateral worth more than the loan.

Interest rates in this model usually adjust automatically with demand. When more of a pool is borrowed, rates tend to rise to attract deposits and discourage borrowing. If a borrower's collateral falls too far in value, the position can be liquidated to protect lenders.

The protocol is non-custodial, meaning users interact with smart contracts from their own wallets. The specific collateral factors, supported assets and liquidation parameters are not public reviewed.

Fees are not published publicly reviewed. Supply and borrow rates on pool-based lenders usually move with utilization, and the protocol may take a share of interest, but the specifics here are unconfirmed.

Users should check live rates, reserve factors and any protocol fees in the lending app before depositing or borrowing. NEAR network gas costs also apply to transactions.

DefiLlama lists two audits for the protocol, but the project does not identify the auditors, scope or findings. Readers should look up the audit reports directly instead of relying on the count alone.

As a non-custodial lender, funds sit in smart contracts rather than with a company. That removes counterparty custody risk but adds smart-contract, oracle and liquidation risk. The project does not mention hacks or incidents, and they do not describe regulatory status. Note the name mismatch with Burrow in the description and verify you are on the official site.

Rhea Lend is for NEAR users comfortable with DeFi who want a lending market for earning yield or borrowing against holdings. It is less suited to beginners who have not handled wallets, gas and liquidation risk before.