DefiLlama, the go-to platform for transparent DeFi analytics, just announced they're now tracking Credit Coop on both Ethereum and Base. This move highlights the growing interest in innovative credit protocols that bridge traditional finance with blockchain tech. With a Total Value Locked (TVL) already at $8.59 million, Credit Coop is making waves in the Real World Assets (RWA) lending space.

What is Credit Coop?

At its core, Credit Coop is an on-chain structured credit protocol designed to help companies access capital more efficiently. Instead of relying on traditional loans, businesses can collateralize their future revenue streams using smart contracts. This means turning expected cash flows into programmable collateral that lenders can trust and interact with directly on the blockchain.

Think of it like this: In traditional finance (TradFi), getting a loan often involves heaps of paperwork, intermediaries, and delays. Credit Coop flips the script by using blockchain to make everything transparent and automated. Lenders get programmatic claims on those revenues, ensuring settlements happen 24/7 without the usual hassles.

The protocol's proprietary Spigot system is a key feature here. It automatically redirects borrowers' cash flows to repay loans, providing real-time insights and enhanced security for everyone involved.

Key Features and How It Works

Credit Coop focuses on RWA lending, where real-world assets like future revenues are tokenized and brought on-chain. Here's a breakdown:

• Tokenizing Future Cash Flows: Businesses can use their predictable income streams (like subscription revenues or trading fees) as collateral. This is done via smart contracts on Ethereum and Base, making it accessible and scalable.

• Multi-Depositor Vaults: Lenders can pool funds into vaults that support multiple borrowers, spreading risk and increasing efficiency.

• Yield-Bearing Assets: In some cases, like their recent case study with D8X, lenders can use yield-bearing tokens as the loan currency, adding an extra layer of returns.

For example, in their collaboration with D8X—a perpetuals trading protocol—Credit Coop provided a $450K credit line secured by ARB, USDA, and D8X LP tokens. This setup allows D8X to boost liquidity while giving lenders secure, on-chain exposure.

If you're curious about the details, check out the case study on Credit Coop's Substack.

Recent Developments and Funding

Credit Coop isn't new to the scene but has been gaining traction quickly. Back in August 2025, they raised $4.5 million in a seed round led by DLAB, with participation from other investors. This funding is fueling their mission to transform credit markets by making them more programmable and inclusive.

Now, with DefiLlama's tracking, users can monitor Credit Coop's TVL breakdown: $6.38 million on Ethereum and $2.21 million on Base. This visibility is crucial for DeFi enthusiasts who rely on platforms like DefiLlama for accurate, ad-free data.

Why This Matters for DeFi and Beyond

This integration with DefiLlama signals a maturing DeFi ecosystem where protocols like Credit Coop are bridging the gap between TradFi and blockchain. By tokenizing real-world cash flows, it's opening doors for Web3 businesses to access capital without traditional barriers. Plus, for lenders, the transparency reduces risks and could lead to more innovative financial products.

If you're a blockchain practitioner or just dipping your toes into DeFi, keeping an eye on projects like Credit Coop could give you an edge. It's not just about memes and tokens—it's about real utility that enhances the entire ecosystem.

For more stats, head over to Credit Coop on DefiLlama or explore their official site at creditcoop.xyz. What's your take on on-chain credit? Let us know in the comments!