--- title: "Weft Finance" url: "https://radix.wiki/ecosystem/weft-finance" version: "4.3.0" updated: 2026-08-19 last_verified: 2026-08-19 license: CC-BY-4.0 license_url: "https://creativecommons.org/licenses/by/4.0/" --- # Weft Finance | Weft Finance | | | --- | --- | | **Protocol type** | DeFi lending & borrowing (money market) | | **Status** | 🟢 Active – V2 live on Radix mainnet | | **TVL (Aug 2026)** | ≈ $301K (V2 + V1); peak ≈ $14.06M on 29 Mar 2025 – [DeFiLlama](https://defillama.com/protocol/weft-finance) | | **Positions** | Wefties – NFT-based collateralized debt positions | | **Token** | $WEFT – 99,999,000 fixed supply, minting permanently disabled | | **Founded** | 2022, by Yetinin Coulibaly & Atoumbré Kouassi | | **Built on** | [Radix](/contents/tech/core-protocols/radix-engine) ([Scrypto](/contents/tech/core-protocols/scrypto-programming-language)) | | **App** | [app.weft.finance](https://app.weft.finance/market) | | **Website** | [weft.finance](https://weft.finance) | | **Docs** | [docs.weft.finance](https://docs.weft.finance) | | **X** | [@weft_finance](https://x.com/weft_finance) | | **GitHub** | [weftfinance](https://github.com/weftfinance) | | **Analytics** | [DefiLlama](https://defillama.com/protocol/weft-finance) | **Weft Finance** is a decentralized lending and borrowing protocol built on [Radix](/contents/tech/core-protocols/radix-engine), written in [Scrypto](/contents/tech/core-protocols/scrypto-programming-language). At the heart of Weft lies the creation and management of collateralized debt positions (CDPs) represented by NFTs, known as ‘Wefties.’ It is one of Radix's core money markets, alongside [Root Finance](/ecosystem/root-finance), and interoperates with DEXs such as [Ociswap](/ecosystem/ociswap) and [CaviarNine](/ecosystem/caviarnine). ## Protocol status Weft is the largest lending market on Radix and one of the two largest deployments on the network of any kind. As of 11 August 2026 [DeFiLlama](https://defillama.com/protocol/weft-finance) tracked about **$296K** in Weft V2 and a further **$4.7K** in the legacy V1 pools, a combined **$301K** against a [Radix-wide DeFi total of roughly $1.07M](https://defillama.com/chain/Radix) — a little over a quarter of everything deposited on the network. Its own peak was **$14.06M on 29 March 2025**, so the protocol holds a far larger share of a far smaller market than it did a year ago. Its nearest documented peer, [Root Finance](/ecosystem/root-finance), has fallen to roughly $1.2K over the same period. The deposits are in active use rather than stranded: the [V2 lending-pool component](https://dashboard.radixdlt.com/component/component_rdx1czmr02yl4da709ceftnm9dnmag7rthu0tu78wmtsn5us9j02d9d0xn) committed **70 transactions in the seven days to 11 August 2026**, the most recent at 01:59 UTC that morning — supplies, borrows and repayments in XRD, LSULP and xUSDC. The **$WEFT** token's supply is settled on-ledger and cannot grow. Read at epoch 333918, the [resource](https://dashboard.radixdlt.com/resource/resource_rdx1tk3fxrz75ghllrqhyq8e574rkf4lsq2x5a0vegxwlh3defv225cth3) carries a total supply of **99,999,000 WEFT** with the minter rule set to `deny_all` and marked immutable, and the resource's rules locked; the burner rule is `allow_all`, so the supply can only ever fall. This is a fixed supply, not a cap the protocol is issuing towards. ## **History** Weft was founded by two Ivory Coast engineers, Yetinin Coulibaly and Atoumbré Kouassi. Living in different continents, with Coulibaly in Paris and Kouassi in Abidjan, they came together with a shared vision for financial innovation and economic development in Africa. Their collaboration began in 2021 when both became active members of the Radix Community. Despite having never met, the two engineers discovered a shared vision for the future and a strong alignment in values. After meeting in person in Abidjan in fall 2022, they decided to form a partnership and build their first decentralized application (dApp) for lending and borrowing financial services. This led to the creation of Weft, aiming to harness the transformative potential of RadixDLT for the future of DeFi. The platform is now developed by a team of seven individuals, collectively known as Weft'ers. ## Weft V2 In 2024 Weft shipped **Weft V2**, a ground-up rebuild focused on capital efficiency and scale ([announcement](https://medium.com/@weft_finance/announcing-weft-v2-9a7cfe1aa54c)). V2 adds: - **Efficiency Mode** – higher borrowing power for correlated assets (e.g. stablecoin-to-stablecoin or XRD-to-LSU pairs). - **Isolation Mode** – risk-contained markets that let newer or more volatile assets be listed without endangering the core pools. - **Advanced collateral** – support for [Liquid Stake Units](/contents/tech/core-concepts/liquid-stake-units) (LSUs), LSULP, and DEX LP tokens as collateral. - **Configuration buffering** – parameter changes are staged so existing loans stay stable through re-configuration. V2 lends and borrows XRD, LSULP, xUSDC, WEFT and other Radix ecosystem assets; live markets and rates are on the [Weft V2 app](https://app.weft.finance/market), with protocol metrics tracked on [DefiLlama](https://defillama.com/protocol/weft-finance). ## Features Weft offers several key features to facilitate lending and borrowing of digital assets: - Lending Pools: Weft utilizes lending pools that hold assets deposited by lenders. Each pool is designated for a specific asset type. Lenders receive deposit units representing their share of the pool. - Loan Units: Borrowed amounts are tracked using loan units, which reflect a borrower's share of debt obligation. Interest accrual is handled through the loan unit system. - Interest Rate Strategies: Interest rates are set dynamically based on lending pool usage through predefined interest rate strategies. This allows rates to adapt to market conditions. - Borrowing Power Delegation: Users can delegate their borrowing power by minting a linked "delegated Weftie" NFT and sending it to another user. The recipient can then borrow without needing collateral. - Liquidations: Loans with insufficient collateral can be liquidated by external entities or automatically. This sells collateral to repay loans and brings loan-to-value ratios back into a healthy range. - User Positions Operations: Weft supports position modifications like collateral swaps and direct loan repayment using collateral ("self-liquidation"). The system is designed to be flexible, secure, and capture the nuances of each loan through use of the non-fungible Wefties. ## Components Weft Finance relies on several key components to enable its lending and borrowing functionality: ### Lending Pools - Hold assets deposited by lenders and act as reserves for borrowers - Each pool is for a specific asset type (e.g. $XRD) - Mint deposit units to track lenders' shares - Manage accrued interest on loans - Provide flash loans ### Lending Market - Acts as the interface between lenders/borrowers and lending pools - Handles borrowing, repaying loans, liquidations, withdrawals - Ensures security through badges and access rules - Validates and extends Wefties to enable pool interactions ### Wefties - NFTs that contain users' collateral & loan positions - Secure metadata that stores deposit unit collateral amounts and loan unit borrowed amounts - Controls enforced by Lending Market badge ### $WEFT Token - Last resort protection against market volatility risks - Stakers can deposit $WEFT to mitigate potential insolvencies - Stakers earn a portion of collected fees as insurance premiums This modular architecture maximizes flexibility and security of lending operations. ## Operations Weft supports several key operations for lenders and borrowers: ### Lending - Users contribute assets to lending pools - They receive deposit units representing pool shares - Deposit units can be redeemed for assets ### Borrowing - Validates the Weftie NFT and extends it - Executes borrowing order through pool interactions - Performs health checks on loans and updates Weftie ### Interest Accrual - Interest rates set dynamically based on pool usage - Accrued by increasing total borrowed amount - Deposit and loan units remain constant ### Revenue - Collected from loan interest, flash loan fees, liquidation bonuses - Shared between operations costs and insurance module ### Insurance Module - Accepts staked WEFT tokens - Tokens sold to cover losses in extreme situations - Stakers earn portion of revenue as insurance premium Weft aims to make lending and borrowing as seamless as possible while keeping operations decentralized and secure. ## Roadmap Weft Finance has laid out a roadmap to drive the growth and adoption of its lending and borrowing platform: ### Q3 2023 - ✅ Launched validator node, distributing $WEFT tokens to stakers - ✅ Introduced Weft Alpha version on testnets for early feedback ### Q4 2023 - ✅ Initiated $WEFT token listing and liquidity mining incentives - ✅ Released Beta version on updated testnet after Babylon launch - ✅ Started auditing Scrypto code prior to mainnet - ✅ Launched mainnet MVP after completing audits - ✅ Introduced Weft staking and early adopter incentives ### 2024 - Planning interface upgrades and mobile app launch - Transitioning towards a DAO model by end of 2024 ### 2024–2025 - ✅ Shipped [Weft V2](https://medium.com/@weft_finance/announcing-weft-v2-9a7cfe1aa54c) – Efficiency/Isolation modes and advanced collateral. - Scaling total value locked and expanding supported assets and liquidity incentives. - Continued progress toward decentralising the protocol into a DAO. The roadmap focuses on iterative community-driven development, testing, and upgrades to eventually decentralize Weft into a DAO. Live protocol metrics are published on [DefiLlama](https://defillama.com/protocol/weft-finance). ## Team ### **Atoumbré Kouassi** With a Master's degree in Applied Statistics and Economy, Kouassi has had a successful career in support service management in Abidjan. A dedicated professional, Kouassi has been following and experimenting with blockchain technology since 2013. His search for an efficient distributed ledger technology led him to discover Radix DLT, which would become the foundation for Weft. ### **Yetinin Coulibaly** A master in Embedded Electronics and Industrial Computing, Coulibaly is a lead developer based in Paris. He has a strong entrepreneurial spirit, having instigated a Senegal-based startup that provided digital ticketing solutions for transportation and event sectors. Coulibaly's drive and interest in blockchain technology eventually led him to join the Radix Community and embark on the journey of co-founding Weft. ### Zivile Community Manager ### Penifana Frontend Developer ### Roland Backend Developer ### Maxence Project Manager ### Amadou PhD Advisor providing research guidance ## External Links - [Weft Finance – official website](https://weft.finance) - [Weft V2 app](https://app.weft.finance/market) - [Documentation](https://docs.weft.finance) - [@weft_finance on X](https://x.com/weft_finance) - [GitHub – weftfinance](https://github.com/weftfinance) - [Meet the Project: Weft Finance (Radix blog)](https://www.radixdlt.com/blog/meet-the-project-weft-finance) - [DefiLlama – Weft Finance](https://defillama.com/protocol/weft-finance) ## LSULP exposure and the CaviarNine wind-down Weft's support for **LSULP** as collateral, listed under Weft V2 above, makes it the protocol most exposed to [CaviarNine](/ecosystem/caviarnine)'s [announced departure from Radix](/ecosystem/caviarnine) on 19 August 2026. LSULP is the pool unit of CaviarNine's LSU Pool, and the size of Weft's position in it is a ledger fact rather than an estimate. Read live from the [Radix Gateway](https://docs.radixdlt.com/docs/network-gateway) at **epoch 336,462** (19 August 2026, 23:07 UTC), three Weft components hold LSULP: - [Weft Lending Pool V2](https://dashboard.radixdlt.com/component/component_rdx1czmr02yl4da709ceftnm9dnmag7rthu0tu78wmtsn5us9j02d9d0xn) — **51,051,122.67 LSULP** - [Weft Lending Market V2](https://dashboard.radixdlt.com/component/component_rdx1cpy6putj5p7937clqgcgutza7k53zpha039n9u5hkk0ahh4stdmq4w) — **9,883,163.20 LSULP** - [C9 LSULP Pool](https://dashboard.radixdlt.com/component/component_rdx1cr5cnuzre63whe4yhnemeyvjj2yaq7tqg0j6q4xxtcyajf8rv0hw26), described on ledger as the "Weft C9 LSULP Lending pool" — **1,476,638.10 LSULP** That is **62,410,923.97 LSULP** against a total supply of **263,942,458.90** — **23.6%** of every LSU Pool unit in existence, held by one protocol, and [LSULP](https://dashboard.radixdlt.com/resource/resource_rdx1thksg5ng70g9mmy9ne7wz0sc7auzrrwy7fmgcxzel2gvp8pj0xxfmf) has 940 holders. Weft is the single largest external holder of LSULP on the network; the next largest is the [RSwap](/ecosystem/reddicks) LSULP/DCKS pool at 17,293,134.15 (6.5%), and [Stabilis](/ecosystem/stabilis) holds a further 1,053,413.26. The exposure is to the front end, not to the balances. LSULP's `freezer` and `recaller` rules are both `deny_all` and immutable, with the resource's rules locked, so a departing operator cannot freeze or claw back what Weft's pools hold, and the LSU Pool's contracts stay callable on ledger whatever happens to caviarnine.io. What a wind-down changes is the depth available to _price_ and _liquidate_ that collateral: Weft's liquidations rely on being able to move LSULP, and CaviarNine's own venues carried the great majority of Radix on-chain volume up to the announcement. As of this reading Weft has published no statement on the collateral listing.