The Bitcoin Credit Stack
rates are percent a year, continuously compounded · figures as of 2026-10-15 · read 2026-10-16 04:01 UTC
Market › Algorithmic › Curve LlamaLend

Curve LlamaLend

curve_llamalend · 3 deployments · on-chain isolated markets · operated by Curve DAO
Secured by
BTC collateral
65.85 BTC
partial
<0.1% of Algorithmic
<0.1% of the market
Dollar debt against bitcoin
$2.8m
<0.1% of Algorithmic
<0.1% of the market
Aggregate LTV
52.6%
+6.08 pts vs Algorithmic
Borrow rate (USD loans)
2.68%
partial
−2.05 pts vs Algorithmic
from 1 of 3 deployments
Lend rate (USD loans)
collecting (not read yet)
Liquidates at
$44,150
partial
45.4% below $80,933
Dollar loans only: other currencies are separate books, never added in

Debt and rates count loans made in US dollars and dollar stablecoins. Loans in euros, francs, yen, ether or bitcoin itself are separate books, shown by currency on each venue, never added in.

What these figures cover — and what they leave out
  • BTC collateral — part of it is the supplied amount each pool reports, not what is pledged against a loan.
  • Borrow rate (USD loans) — weighted by dollar debt for 1 of 3 deployments.
  • Liquidates at — the priced books of 3 of 3 deployments taken as one position — an aggregate, not a forecast.
What “Liquidates at” is: one price for the whole book, not a forecast

"Liquidates at" is the bitcoin price at which this book, taken as one position, stops covering its debt at its liquidation thresholds — an aggregate, not a forecast: individual loans are levered differently and liquidate above it.

Dollar debt against bitcoin of Algorithmic — Curve LlamaLend <0.1%, <0.1% of its bitcoin collateral
Dollar debt against bitcoin of the market — Algorithmic 13%, 13% of its bitcoin collateral
Deployments
DeploymentBTC collateralshareDollar debt against bitcoinshareLTVBorrowLendLiquidates atThreshold (LTV)
Ethereum ›62.52 BTC95%$2.7m95%52.7%2.68%—$44,24096.5% LTV
Arbitrum ›1.65 BTC2.5%$69k2.4%53.5%——$45,30494.0%–96.5% LTV
Optimism ›1.68 BTC2.6%$65k2.3%47.0%——$39,69395.0%–96.5% LTV
Ordered by debt, never by a rate; a figure in italics covers part of a book

Ordered by debt against bitcoin, then collateral — never by a rate. Shares are of this family's total, and add up. A figure in italics covers only part of a book — hover for what it leaves out; a dash carries its reason. /v1/market/tree

One protocol, deployed on 3 chains. Each deployment is a separate set of contracts with its own book, collateral list and parameters, so each keeps its own page and its own figures. The rows are not added together here.

Deployments — status and criteria researched
DeploymentVenue typeStatusCriteria researched
Arbitrum ›on-chain isolated marketsingesting10/10 · listed
Ethereum ›on-chain isolated marketsingesting10/10
Optimism ›on-chain isolated marketsingesting10/10 · listed

Sorted by venue id, not by any figure. Figures are each deployment's own headline read (3 of 3 deployments have a collateral or debt figure), as of 2026-10-15; a dash carries its reason on hover, and a figure in italics covers only part of the bitcoin book — hover for what it leaves out. get_venue · list_venues

What a family is, and is not

A family is the presentation parent of a venue: one protocol across its chain deployments (Aave v3 on Ethereum, Arbitrum, Base…), one corporate issuer, or one desk. family_id matches the ids other payloads use (the corporate issuer_id, the rate-card desk key). It is NOT a measurement unit: every figure in this dataset keys on venue_id, and a family lists its venues rather than summing them. Deployments of one family are separate contracts with separate books and can differ in collateral, parameters and risk.

Ask for this by machine

REST
GET https://api.bitcoincreditstack.com/v1/market/venues
MCP
list_venues()
get_venue({ venue_id: "curve_llamalend_arbitrum" })

The same figures, the same names and dates. Connect your AI →