Credit · Lending · SIGMA
cSigma runs permissioned institutional credit pools where verified borrowers draw against LP capital, which the brief's Lending definition explicitly covers under "permissioned/undercollateralised desks". DefiLlama classifies it as RWA Lending (DefiLlama API, 26 Jul 2026).
Institutional credit desk concentrated on Arbitrum.
Two-tier competitive set for a Lending entity: on-platform peers are clickable and comparable, off-platform names are context only.
Percentile rank against the 12 on-platform Lending entities (snapshot as of 2026-07-27). Supply and borrow APY are omitted: no source covers the whole cohort, and a single-market rate would misrepresent a protocol-level number.
$12.7m · rank 11 of 12
- Not reported by DefiLlama for this protocol
4 · rank 9 of 12
Listed 2025-03-10 · rank 10 of 11 reporting (cohort 12)
2 · rank 3 of 6 reporting (cohort 12)
The full on-platform tag cohort. Rows marked direct carry a curated competitor relationship; borrowed can exceed TVL where DefiLlama nets borrowed collateral out of supplied.
Savings for Everyone: open-source non-custodial liquidity protocol.
TVL $14.17Blive
Borrowed $10.95B
22 chains
Customizable lending infrastructure: isolated markets + curated vaults.
TVL $7.85Blive
Borrowed $4.09B
41 chains
Stablecoin-native credit stack tied to the Sky/Maker ecosystem.
TVL $4.58Blive
Borrowed $1.87B
9 chains
Largest risk curator in DeFi lending.
TVL books under Morpho, Euler and Kamino vaults
TVL $3.17Blive
Borrowed -
9 chains
Simple, battle-tested money markets (Compound III).
TVL $1.22Blive
Borrowed $571.4M
9 chains
Permissionless modular lending vaults.
TVL $325.0Mlive
Borrowed $605.2M
16 chains
Money market where collateral keeps its native rights.
TVL $224.6Mlive
Borrowed $274.7M
7 chains
Soft-liquidation CDP dollar.
TVL $138.8Mlive
Borrowed $41.7M
4 chains
Immutable, governance-minimized CDP dollar.
TVL $71.1Mlive
Borrowed -
1 chain
Credit pool funding market-maker inventory.
TVL $30.9Mlive
Borrowed $17.0M
7 chains
Omnichain money market via LayerZero.
TVL $585.9Klive
Borrowed $217.7K
4 chains
Curated competitor relationships across Credit tags.
Onchain institutional / private credit.
TVL $2.50Blive
Borrowed $1.76B
2 chains
Context-setting competitors outside the EVM DeFi scope: named for completeness, not tracked, not clickable.
62.25% share of tracked CeFi lending, Q1 2026
7.02% CeFi market share Q1 2026
Loan book grew $90.04m in Q1 2026, distributes Steakhouse-curated Morpho USDC lending to retail
Contracted 21% in Q1 2026
Historically third-largest CeFi lender
Loan books fell 6% QoQ to $23.3bn in Q1 2026, first contraction since Q3 2024
Roughly $3.2bn TVL, the main non-EVM benchmark
Drove Solana past $2.1bn of active loans in May 2026
Prime engine covers roughly 98% of Solana lending TVL
Pick up to 3 same-tag peers. Metric values are snapshot figures as of 2026-07-27.
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Tag cohort plotted on two selectable axes. Risk composite comes from the M7 documented-risk derivation and is only defined for rated entities; it is a documented-risk load, not a safety score, and is never compared across tags.
