Alpend, the credit protocol built on Canton Network by Palladium Labs, has crossed $3 million in total value locked, reaching the milestone just three days after crossing $2 million. The pace of growth suggests accelerating inflows as the protocol expands its lending and borrowing markets on Canton.
The TVL milestone reflects early but meaningful traction for a protocol that only recently completed its smart contract audit with Halborn Security and is still in the early stages of its mainnet deployment. The rapid succession of milestones, $1 million, $2 million, and now $3 million within a short window, points to genuine liquidity demand rather than a one-time deposit event.
Alpend is designed as a native credit layer for the Canton ecosystem, allowing users to supply assets and borrow against collateral within Canton's privacy-preserving architecture. As the Canton ecosystem continues to expand with new applications, tokens, and institutional participants, a native lending and borrowing protocol sits at the foundation of what a complete on-chain financial system requires.
