Active principal
USDPrincipal outstanding on loans read on-chain across the selected protocols and chains.
Dashboard · VantagePlanned
On-Chain Private Credit: Active Loans by Protocol
How much private credit do on-chain protocols lend by protocol and chain, and at what rates?
Active private credit loans on-chain by protocol and chain: principal outstanding, rates, borrower sectors, repayments and defaults.
ShareEmail it
Blueprint
What the dashboard will show.
The dashboard as it will open in Vantage. Each figure is named here and arrives with its receipt; until its data is published, its place stays empty.
Overview
Active principal, rates and losses by protocol and chain.
Average contracted rate
%The principal-weighted average contracted rate of active loans whose rates are on-chain.
Impaired or in default
USDPrincipal on loans marked impaired, written down or past their grace period.
Reported on other chains
USDPrivate credit recorded on chains not read here, from issuers' reports, kept apart from the on-chain total.
Active principal by protocol
USDActive principal by protocol by day, from each protocol's own contracts.
Loans
Every active loan or credit pool, with its terms and status.
Newly lent, 30 days
USDPrincipal funded on new loans over the last 30 days.
Repaid, 30 days
USDPrincipal repaid over the last 30 days, from payment events.
Principal by borrower sector
Active principal by borrower sector, from dated protocol disclosures, marked issuer-reported.
Every active loan or pool
Each active loan or credit pool with protocol, chain, borrower label, principal, rate, term, status and receipt.
- Protocol
- All protocols, or one of Maple, Centrifuge, Goldfinch, Clearpool, Wildcat and Huma
- Chain
- Every covered chain, or all chains
About
What it answers, and for whom.
Private credit protocols lend stablecoins to businesses that are vetted off-chain: trading firms, fintech lenders, trade and invoice finance companies and funds. The loans are recorded on-chain as they are funded and repaid, so outstanding principal, rates and losses can be read from the protocols' contracts. This dashboard puts Maple, Centrifuge, Goldfinch, Clearpool, Wildcat and Huma side by side on those measures.
Protocols record loans in different ways. Some fund each loan from a pool and emit an event for every payment; some issue fund shares whose price reflects a loan book kept elsewhere; some let borrowers open their own credit markets on their own terms. The dashboard maps each one onto the same columns (active principal, rate, term and status) and says which columns are read directly and which come from the protocol's own reports.
A large share of what is reported as tokenized private credit is recorded on chains this dashboard does not read, notably the home equity lines Figure records on its own Provenance blockchain. Those loans appear only as a separate, labelled line taken from Figure's published reports and are never mixed with the loans read on-chain.
Method
How it will be measured.
Every figure will be read at a block, kept with its source and its exact read, and open a receipt anyone can re-check.
How receipts work →- Active principal is read per protocol from its own contracts at day-end blocks: Maple loan manager events, Centrifuge credit pool shares and prices, Goldfinch and Clearpool pool balances, Wildcat market debt and Huma pool assets.
- Rates are each loan's contracted rate where it is on-chain, or the pool's realized yield from share-price growth between two pinned blocks where it is not, and the column says which.
- Repayments, impairments and defaults are each protocol's own payment, impairment and write-down events, valued in the loan's stablecoin.
- Borrower sectors and collateral come from each protocol's published loan disclosures, recorded with their source and date, because they are not on-chain.
- Loans recorded on chains not read here are shown as a labelled line from their issuers' reports and are never added to the on-chain total.
The data it needs
Chain data, with some off-chain sources
- rwa_supply_dailyTo buildTokenized assets supplySupply and holders of tokenized treasuries, money-market funds, stocks, gold and credit per token and chain per day, with issuer and asset class.
- yield_rates_dailyTo buildYields and ratesSupply rates, staking yields and vault share-price growth per pool and vault per day, in one comparable table.
- token_holders_snapshotTo buildToken holders and concentrationHolder counts, top holders and concentration shares of registry tokens at a pinned block, with contract and exchange labels.
- Maple loan manager funding, payment and impairment events
- Centrifuge credit pool share supply and posted price per share
- Goldfinch and Clearpool pool balances and repayment events
- Wildcat market debt, rates and withdrawal events
- Huma pool assets on Solana
- Protocols' published loan disclosures, and Figure's reports for loans on Provenance, recorded with their source and date
Questions
Questions people ask.
What is on-chain private credit?
Loans to businesses that are funded and repaid in stablecoins through smart contracts. Lenders deposit into a pool or buy a fund token while a protocol or manager vets the borrowers off-chain. Repayments flow back through the contracts, where anyone can check them.
How is on-chain private credit different from DeFi lending?
DeFi lending markets lend against crypto collateral that is liquidated automatically. Private credit lends to named borrowers on negotiated terms, often with off-chain collateral or none, so the risk is the borrower's ability to repay rather than a price feed.
Which protocols are included?
Maple, Centrifuge, Goldfinch, Clearpool, Wildcat and Huma to start, each on the chains where it lends. A protocol is added when its loans can be read from its contracts; one that only publishes reports appears in the labelled off-chain line.
What rates do on-chain credit protocols pay?
Rates depend on the borrower, the term and the collateral. The dashboard shows the contracted rate of each active loan where it is on-chain and the realized yield of each pool from its share price, so quoted and earned rates can be compared.
How are defaults recorded?
As each protocol records them: an impairment that marks a loan down, a write-down of a pool's assets or a missed payment past its grace period. Each appears with its transaction, and any recovery is shown beside the loss it offsets.
Why do published private credit totals differ?
Totals depend on what is counted: loans read on-chain, loans recorded on an issuer's own chain or a fund's reported assets. This dashboard keeps them apart, so its on-chain total covers only what the contracts show.
- Active principal
- The amount lent and not yet repaid on loans that are still open.
- Underwriter
- The party that vets borrowers and sets loan terms for a credit pool, often the protocol's own team or an outside manager.
- Write-down
- Reducing the recorded value of a loan or a pool's assets when repayment in full looks unlikely.
Related
More apps like this.
Maple Finance: syrupUSDC, syrupUSDT and the Loan Book
Deposits in Maple's syrupUSDC and syrupUSDT, the loans they fund, the collateral behind them, realized yield and the withdrawal queue.
EthereumSolanaArbitrum+2Centrifuge Tokenized Funds: JTRSY, JAAA and Pools by Chain
Every Centrifuge pool and share class by chain: shares issued, price per share, deposit and redemption requests and who holds them.
Multi-chainEthereumBase+3Tokenized RWA Market Size by Chain
Real-world asset value tokenized on each chain by asset class, stablecoins left out: Treasuries, credit, commodities, stocks and funds.
Multi-chainEthereumSolana+6Tokenized Treasuries Tracker: BUIDL, BENJI, USYC, OUSG
How much sits in each tokenized Treasury and money-market fund, on which chains and how each fund's size has changed, from token contracts.
Multi-chainEthereumStellar+5Yield-Bearing Stablecoins Compared: APY and Supply
sUSDe, sUSDS, sDAI, syrupUSDC, scrvUSD and other yield-bearing dollars side by side: realized yield, supply and the source of each yield.
Multi-chainEthereumTokenized Gold Supply: XAUT vs PAXG
Ounces of gold tokenized as XAUT and PAXG, the split between them, where they live and how many hold them, read from the token contracts.
Multi-chainEthereumTronBuild On-Chain Private Credit: Active Loans by Protocol on verified data.
Start free in Voltfin Studio: boards, tables and reports where every number opens its receipt. Tell us which data you need first and we will build it next.