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Loopscale Q1 2026 Recap

Following public launch and rapid growth in 2025, Loopscale continued that trajectory in Q1 2026, with deposits reaching new highs, the protocol’s collateral coverage expanding across institutional and DeFi-native assets, and a number of major wins:
  • 141M total deposits, 66M lending deposits
  • ONyc grew from $15 to 23M+, now 43% of the total market
  • PRIME launched with Hastra, hitting $10M in its first weeks
  • syrupUSDC reached $15M within a month of launch
  • Solstice’s USX launch surpassed $15M in deposits
  • Loopscale App live on the Solana dApp Store, driving a 50% increase in DAUs
  • PRISM launched, aggregating Multiliquid, Fission, and Securitize into a unified router for permissioned RWAs
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Loopscale was built on a thesis: order books are the only credit structure that scales onchain. Pool-based lending sets one rate for all participants and assumes every loan looks the same. Most credit markets and products don’t work that way. Permissioned RWAs, foreign currency stablecoins, and native DeFi yield each require duration, custom terms, and rates priced to specific risk. Q1 was the largest test of that thesis to date. The protocol’s collateral coverage expanded across institutional RWAs, local-currency stablecoins, and crypto-native yield assets, and growth concentrated in exactly the markets pool-based lending struggles to serve. Security is a prerequisite to accomplish this at scale. Loopscale made meaningful strides towards further hardening technical and operational security this past quarter, including the completion of three additional protocol audits, continuing the work that lets issuers, allocators, and users deploy into Loopscale with confidence.

Real-world assets are the largest collateral category on Loopscale

Real-world assets crossed roughly 40% of total deposits in Q1, marking a rotation of capital and users away from speculative deployments toward institutional, yield-focused strategies. Growth was distributed across a number of institutional issuers.

OnRe

The OnRe market on Loopscale grew to 53M,withONycdepositsup5053M, with ONyc deposits up 50% to 23M. ONyc is a yield-bearing dollar asset that gives holders direct exposure to reinsurance yield. Loopscale users can borrow USDC or USDT against ONyc, Exponent PTs, and Exponent LPs to open leveraged positions. Loopscale recently introduced longer durations on ONyc markets, letting users fix their rate over one-week and one-month durations. Fixed-rate and fixed-duration products demonstrate a structural advantage of order book lending, enabling onchain markets to include time as a variable in credit pricing while borrowers holding RWAs access greater predictability around costs and returns. The OnRe USDC Vault remains one of the highest-yield Vaults on Loopscale, delivering 7.7%+ APY including rewards and points incentives. ONyc Loopers earn up to 17% APY on ONyc/USDC.

PRIME

Hastra’s flagship RWA yield token launched on Loopscale across two markets in Q1 and reached $10M in deposits by quarter end. PRIME is backed by Figure’s HELOC lending operation, one of the largest non-bank HELOC originators in the US, bringing a category of historically inaccessible consumer credit yield onchain. Users can Loop PRIME against USDC and USDG on Loopscale’s order book.

Securitize

ACRED on Loopscale grew to nearly 95% of all ACRED minted on Solana by the end of Q1. ACRED is Apollo Credit Group’s tokenized private credit fund, issued by Securitize. The integration pairs institutional-grade RWA collateral with permissionless stablecoin liquidity: ACRED holders can borrow against their position rather than liquidate to access cash, and lenders earn yield priced to the specific risk of the underlying collateral.

AlphaLedger

Loopscale’s first integration with a licensed broker-dealer interface launched in Q1, enabling permissioned borrowing against tokenized assets through AlphaLedger’s institutional platform. This integration creates a path for participation from institutional borrowers who require broker-dealer custody and compliant access onchain credit through familiar infrastructure.

PRISM

Loopscale introduced PRISM (Permissioned RWA Instant Settlement Market), combining regulated atomic minting via Securitize with instant NAV-based redemptions via Multiliquid and Fission, routing them through a single contract for instant entry and exit on permissioned RWAs. The problem PRISM solves is structural. RWAs are a $25B market with almost no secondary liquidity. Tokenized funds hold billions in AUM and record fewer than 100 monthly transfers. The constraint isn’t issuance, it’s composability. Most tokenized funds settle on T+1 to T+3 timelines, with some settling on quarterly redemption cycles. Those asynchronous mechanics break the atomic execution that onchain lending and leverage require. PRISM aggregates settlement liquidity for permissioned assets, creating distribution infrastructure for every permissioned token on Solana.

New assets accelerating growth

RWAs were the largest source of growth in Q1, but far from the only one. Stablecoin lending and crypto-native collateral both expanded meaningfully with demand driven from partners like Solstice and Maple.

Solstice

Solstice markets continued to grow on Loopscale, passing $15M in deposits alongside the introduction of new USX products. USX is a stablecoin issued by Solstice, paired with eUSX, a tokenized claim on Solstice’s YieldVault that appreciates as yield accrues to the vault. On Loopscale, USX holders can lend USX directly or borrow against a diverse range of collateral. Loopers can also build leveraged positions on top of Exponent markets: Looping PT-USX with USDC and USX collateral earns up to 23.58% APY, and Looping PT-eUSX with USX collateral earns up to 22.34% APY. Users with Exponent LP positions can also borrow against ELP-eUSX, putting LP exposure to work without unwinding. As part of Solstice’s Season 2, lending, borrowing, and Looping USX assets on Loopscale earn 1-5x Flares.

Maple Finance

Crypto-collateralized borrowing and Looping for Maple Finance’s syrupUSDC went live on Loopscale, hitting $15M in deposits within a month of launch. Maple is an institutional asset manager running overcollateralized lending to crypto-native firms, with syrupUSDC as the permissionless wrapper that passes those yields through to DeFi.

Local stablecoins

Most of the world doesn’t transact in dollars, but most of DeFi assumes they do. With elevated USD volatility, the case for DeFi participation without dollar exposure only gets stronger. Loopscale expanded foreign currency stablecoin coverage expanded across multiple regions through partnerships with leading local issuers. Q1 marked the launch of EUR, GBP, BRL, and MXN-denominated yield products with Loopscale becoming the largest venue on Solana for each. These are early markets in a category that should grow meaningfully as local stablecoin issuance does.

Reaching new users on Solana Mobile

The Loopscale App went live on the Solana dApp Store, driving a 50% increase in daily active users. Loopscale now sits alongside 100+ native Solana dApps, giving Seeker users fixed-rate lending and competitive yields across hundreds of assets from anywhere. Mobile distribution powered by Solana Seeker creates the next generation of DeFi users, opening real DeFi access to anyone in the world.

Looking ahead to Q2

Q2 is already underway with three new primitives already shipped in the first weeks:
  • Deposit-Backed Lending with Jupiter’s JUICED
  • Vault Lending Positions as Collateral, supporting USDC and SOL Vault positions
  • Loops 2.0, the largest upgrade to Looping the protocol has shipped
More products and assets are already in the pipeline. A preview of what’s coming:
  • More RWAs: Expect new products across tokenized equities, yield-bearing assets, and collectibles, enabling tranched access via Loops and lending.
  • Managed products: Strategy vaults remain one of the strongest growth vectors across the ecosystem, with several new vault products launching on Loopscale alongside multiple partners.
  • Local stablecoins: We will expand our offering of foreign currency yield products, enabling global access to currency risk-isolated DeFi yields.
  • Security improvements: Loopscale has a number of audits and security-focused protocol improvements underway for the quarter.
Q1 closed with our broadest collateral coverage across markets to date, spanning permissioned RWAs, foreign currency stablecoins, and native DeFi yield. Q2 keeps building on it with new asset categories, new credit primitives, and a continued security focus across every market. Thanks to the partners, asset issuers, and users who made Q1 a defining quarter for Loopscale.