Credit · Fixed Income
Fira issues Bond Tokens and Coupon Tokens against lending positions, splitting a loan into a principal claim and a yield claim with a defined term, which is yield tokenisation with maturity. Contracts and audits are registered at docs.fira.money. DefiLlama classifies it as Lending (DefiLlama API, 26 Jul 2026).
Bond and coupon tokens splitting loans into principal and yield legs.
Two-tier competitive set for a Fixed Income entity: on-platform peers are clickable and comparable, off-platform names are context only.
DefiLlama borrowed figure ($429.7m) vastly exceeds supplied TVL; unverified
Contracts and audit reports are registered at docs.fira.money/resources-and-ecosystem/contracts-and-audits, per the DefiLlama API record. Firm names and dates: `n.a.`
Percentile rank against the 11 on-platform Fixed Income 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.
$16.6m · rank 6 of 11
- Not reported by DefiLlama for this protocol
1 · rank 8 of 11
Listed 2026-01-27 · rank 9 of 9 reporting (cohort 11)
- Unverified (no structured audit metadata)
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.
Tokenized yield: split principal and yield (PT/YT).
TVL $1.18Blive
Borrowed -
12 chains
Permissionless yield tokenization (ex-APWine).
TVL $30.2Mlive
Borrowed -
12 chains
Fixed-rate, fixed-term lending and borrowing.
TVL $3.1Mlive
Borrowed -
2 chains
Onchain institutional / private credit.
TVL $2.50Blive
Borrowed $1.76B
2 chains
Fixed-rate, fixed-maturity credit with built-in leverage tokens.
TVL $32.1Mlive
Borrowed $26.3M
8 chains
Decentralized CDP issuer of DOLA.
TVL $20.8Mlive
Borrowed -
1 chain
Sealed-bid on-chain repo auctions with a real term structure.
TVL $14.2Mlive
Borrowed $1.7M
6 chains
Pendle's venue for trading funding rates, fixed versus floating.
TVL $7.6Mlive
Borrowed -
1 chain
Fixed and variable rate pools on Base and Optimism.
TVL $5.5Mlive
Borrowed $850.9K
3 chains
Yield stripping into zero-coupon and yield tokens.
TVL $23.4Klive
Borrowed -
1 chain
Context-setting competitors outside the EVM DeFi scope: named for completeness, not tracked, not clickable.
$2.61bn as of 26 July 2026
$3.00bn as of 26 July 2026
$2.16bn as of 26 July 2026
$481m as of 26 July 2026
$735m as of 26 July 2026, SEC-registered
$16.20bn across 85 products as of 26 July 2026
Pick up to 3 same-tag peers. Metric values are snapshot figures as of 2026-07-27.
0 of 3 selected
Select at least one peer to render the matrix.
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.
Too few cohort entities report both axes to plot (1).
