DeFi · Category ranking
Best CDPs in 2026
113 CDPs ranked by DappsAtlas score and total value locked. Open any row for the full review.
- Listed
- 113
- Reviewed
- 113
- Page
- 1/3
CDPs, short for collateralized debt positions, are DeFi protocols that let you lock crypto in a smart contract and borrow a stablecoin against it. The stablecoin is minted when you borrow and burned when you repay, so you can get spending or trading liquidity without selling your ETH, BTC or other collateral. This page lists 82 CDP dApps across Ethereum, BNB Chain, Sui, Cardano, Hyperliquid, Rootstock and others.
Each position has a minimum collateral ratio. If the collateral's price falls and your ratio drops below it, the protocol liquidates part or all of your collateral to cover the debt. Protocols earn money through borrowing fees, interest rates, liquidation penalties and sometimes redemption or minting fees, with some of that revenue going to token holders or a treasury. Some, like Liquity V1 and Sovryn Zero, advertise 0% interest but charge upfront fees instead, while Liquity V2 lets borrowers set their own rate.
When comparing, look at the collateral types and minimum ratios, the interest or fee model, how the stablecoin holds its peg, and whether contracts are immutable or governance-controlled. Size matters too: Sky Lending is by far the largest here, with about $4.9B in TVL at the time of writing, followed by Liquity V1, crvUSD and Liquity V2. Chain choice also matters, since River Omni-CDP, Felix CDP, Bucket CDP and Indigo serve different ecosystems. Borrowing against volatile assets carries liquidation risk, so only use funds you can afford to lose. This page is general information, not financial advice.
CDPs at a glance
- Tracked
- 113
- Reviewed
- 113
- Total TVL
- $5.51B
- Avg. score
- 5.7/10
Largest by TVL
- 1
Sky Lending$4.67B
- 2
Liquity V1$155M
- 3
crvUSD$112M
- 4
Liquity V2$86.7M
- 5
River Omni-CDP$74.3M
Highest rated
- 1
- 2
Frankencoin7.8
- 3Sky7.8
- 4
- 5
| Chains | |||||
|---|---|---|---|---|---|
| 1 | Liquity V2Reviewed | Ethereum | $86.7M | +0.6% | 7.8 |
| 2 | FrankencoinReviewed | Ethereum | $59.3M | +2.1% | 7.8 |
| 3 | SkyReviewed | — | — | — | 7.8 |
| 4 | Liquity V1Reviewed | Ethereum | $155M | −0.8% | 7.4 |
| 5 | crvUSDReviewed | Ethereum | $112M | −13.2% | 7.4 |
| 6 | LiquityReviewed | Ethereum | — | — | 7.2 |
| 7 | Reservoir ProtocolReviewed | Monad, Ethereum +15 | $69.6M | −2.3% | 7.0 |
| 8 | River Omni-CDPReviewed | BNB Chain, BSquared +10 | $74.3M | −3.9% | 6.8 |
| 9 | Felix CDPReviewed | Hyperliquid L1 | $20.8M | −25.7% | 6.8 |
| 10 | BIMA CDPReviewed | Bitcoin, Ethereum +6 | $10.3M | −3.3% | 6.8 |
| 11 | Inverse Finance FrontierReviewed | Ethereum | $5.03M | −5.8% | 6.8 |
| 12 | Parallel Protocol V3Reviewed | Hyperliquid L1, Base +3 | $852K | −1.1% | 6.8 |
| 13 | MakerdaoReviewed | Ethereum | — | — | 6.8 |
| 14 | AngleReviewed | Ethereum, Arbitrum +6 | $1.61M | −6.9% | 6.7 |
| 15 | Bucket CDPReviewed | Sui | $13.8M | −3.5% | 6.6 |
| 16 | Mezo BorrowReviewed | Mezo | $1.32M | +1.5% | 6.6 |
| 17 | Bucket Protocol V2Reviewed | Sui | $26.2M | −3.5% | 6.5 |
| 18 | IndigoReviewed | Cardano | $3.10M | −5.5% | 6.5 |
| 19 | Decentralized EuroReviewed | Ethereum, Polygon +3 | $1.11M | +8.8% | 6.5 |
| 20 | BalancedReviewed | Icon, Avalanche +8 | — | — | 6.5 |
| 21 | LiquidLoansReviewed | Pulse, Base | $1.88M | −6.5% | 6.4 |
| 22 | Yamato ProtocolReviewed | Ethereum | $1.50M | −0.9% | 6.3 |
| 23 | Asymmetry FinanceReviewed | Ethereum | $1.27M | −2.0% | 6.3 |
| 24 | ParyonUSDReviewed | Bitcoin Cash | $970K | −6.6% | 6.3 |
| 25 | OpusReviewed | Starknet | $324K | −1.5% | 6.3 |
| 26 | Balanced DollarReviewed | Icon | $9.82K | +0.4% | 6.3 |
| 27 | AltoReviewed | Ethereum | $147K | +0.0% | 6.2 |
| 28 | USKReviewed | Kujira, Other | — | — | 6.1 |
| 29 | Sovryn ZeroReviewed | Rsk | $17.5M | −9.9% | 6.0 |
| 30 | BTCFi CDPReviewed | Bitcoin, Base +1 | $6.72M | −3.8% | 6.0 |
| 31 | Enosys LoansReviewed | Flare | $6.54M | −7.6% | 6.0 |
| 32 | Abracadabra SpellReviewed | Ethereum, Arbitrum +6 | $4.46M | −2.1% | 6.0 |
| 33 | QiDaoReviewed | Polygon, Base +12 | $2.10M | −1.4% | 6.0 |
| 34 | USDFCReviewed | Filecoin | $300K | −4.3% | 6.0 |
| 35 | Solido CashReviewed | Supra | $271K | +2.6% | 6.0 |
| 36 | HubbleReviewed | Solana | $1.44M | −2.5% | 5.8 |
| 37 | Lets Get HAIReviewed | Optimism | $837K | −1.0% | 5.8 |
| 38 | Sable FinanceReviewed | BNB Chain | $583K | −3.9% | 5.8 |
| 39 | ArkadikoReviewed | Stacks | $195K | −11.0% | 5.8 |
| 40 | Hyperstable CDPReviewed | Hyperliquid L1 | $143K | −15.2% | 5.8 |
| 41 | VaultedgeReviewed | Base, Plasma | $141K | −1.2% | 5.8 |
| 42 | The StandardReviewed | Arbitrum | $9.73K | −1.4% | 5.8 |
| 43 | Threshold thUSDReviewed | Ethereum | $2.02M | −4.0% | 5.6 |
| 44 | ResupplyReviewed | Ethereum | $49.4M | −0.4% | 5.5 |
| 45 | POWERCITY Earn ProtocolReviewed | Pulse | $1.12M | −19.2% | 5.5 |
| 46 | Sigma MoneyReviewed | BNB Chain | $946K | −1.8% | 5.5 |
| 47 | Parallel Protocol V2Reviewed | Ethereum, Polygon +1 | $426K | −9.2% | 5.5 |
| 48 | Telegram USDReviewed | TON | $364K | 0.0% | 5.5 |
| 49 | Asymmetry USDafReviewed | Ethereum | $322K | −9.9% | 5.5 |
| 50 | Ethos ReserveReviewed | Optimism | $217K | −3.5% | 5.5 |
Ranked by DappsAtlas score, then total value locked. Click a column to re-sort this page. TVL data via DefiLlama.
Where they run
CDPs by chain
Guides
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Frequently asked questions
What is a CDP in crypto?
A CDP, or collateralized debt position, is a smart contract where you lock crypto as collateral and mint or borrow a stablecoin against it. You keep exposure to the locked asset, and you get the right to reclaim it once you repay the debt. If the collateral's value drops too far, the position can be liquidated.
How is a CDP different from a normal DeFi loan?
A CDP protocol mints new stablecoins against collateral, so the debt is created at borrowing time. Pooled lending markets such as Aave lend out coins that other users have deposited. The risks look similar, but CDPs often have fixed collateral lists, minimum ratios and their own stablecoin to keep close to its peg.
What happens if my CDP is liquidated?
Liquidation happens when the value of your collateral falls so far that your position drops below the protocol's required ratio. Part or all of the collateral is then sold or seized, usually with a penalty, to cover the debt. Each protocol sets its own ratio and penalty, so check them before borrowing.
Do CDP loans charge interest?
Not always. Liquity V1 and Sovryn Zero advertise 0% interest, though they charge one-off fees on borrowing. Liquity V2 lets you set your own rate. Sky Lending and others use rates set by governance or by markets. Always read the fee and rate details on the protocol's own interface.
What are the main risks of using a CDP protocol?
Smart contract bugs, oracle failures, stablecoin depegs and liquidation losses are the main risks. Some protocols on our list are newer or smaller, and a few, such as Lista CDP, are being wound down. Check audits, how long the protocol has been live, and how much collateral it holds before putting funds in.
Are any CDP protocols immutable?
Several are, including Liquity V1, Liquity V2 and Frankencoin, which are described as immutable or oracle-free in their designs. Others have governance or admin controls that can change parameters. Immutability removes some upgrade risk but also means bugs cannot be patched, so it is a trade-off rather than a guarantee of safety.
What is the largest CDP by TVL?
Sky Lending is the largest CDP by total value locked, with $4.67B. It is followed by Liquity V1 ($155M) and crvUSD ($112M). TVL figures come from DefiLlama and change daily.
Which CDP has the highest DappsAtlas score?
Liquity V2 has the highest score at 7.8/10, ahead of Frankencoin (7.8) and Sky (7.8). Scores weigh security, ease of use, fees and features, and are based only on facts we could verify.
How many CDPs does DappsAtlas track?
DappsAtlas tracks 113 CDPs. Of these, 113 have a full review and 99 report value locked, $5.51B in total.
What chains do most CDPs run on?
Which CDPs grew the most this week?
Among CDPs with at least $1M locked, Monolith Market had the biggest 7-day TVL gain (+174%) and Felix CDP the biggest drop (−25.7%). Combined TVL moved −7.9% over the same seven days.
What is the average score for CDPs?
The 85 rated CDPs average 5.7 out of 10. Of these, 0 score 8 or higher and 17 score below 5.