Teller Wrapped: 2024 Year in Review
The Teller protocol has evolved over the years, supporting the first on-chain mortgages in 2022 and becoming the largest ENS lending protocol in 2023. Now, Teller has shown the largest loan volume for select memecoins, GameFi coins, and others in 2024.
Stats And Metrics
This year, Teller reached new heights with impressive metrics that reflect the platform’s growth and impact:
Total All-Time Volume: $38.56M
2024 Volume: $35.75M for a total of +1,272% increase in the past year
Most Popular Collateral:
- Mainnet: $PRIME, $JESUS, $MOG, $BITCOIN, $MASA
- Polygon: $TRADE, $wMATIC, $ROUTE
- Arbitrum: $NEXT, $PIXL, $DMT, $xZOOMER
- Base: $CIRCLE, $DEGEN, $PRIME
Biggest Loans:
Tokens Added: 114 tokens were introduced on the Teller ATM, including some of the most popular and widely traded tokens:
- Community Favorites: $APU, $PRIME, $JESUS, $MASA and $MOG.
What Teller Shipped
Teller delivered innovative features in 2024 to enhance the time-based loan borrowing experience. The Teller ATM introduced a simplified borrowing flow allowing users to access desired liquidity with ease. The Teller Widget enabled platforms to integrate in-app DeFi loans with a customizable interface and streamlined liquidity management. Rollover loan extensions provided borrowers with the ability to extend their loans without reapplying, offering a more user-friendly and flexible borrowing solution.
Rollover Loan Extensions
This year, Teller improved borrowing flexibility with Rollover Loan Extensions, a feature that allows users to extend their loans without the hassle of reapplying. This improvement reduces repayment pressure, reduces liquidation risks, and transforms the DeFi borrowing experience into one of convenience and adaptability.
Key Benefits:
- Effortless Extensions: Borrowers can roll over existing loans directly from their activity page, with new terms that may even be better than the original.
- Flash Loan Magic: Loans are seamlessly extended using Aave's flash loans, settling previous debts and opening a new loan instantly.
- Indefinite Flexibility: Borrowers can extend loans as needed, akin to managing a flexible credit line.
Learn more about how loan rollovers work
Teller Widget
2024 also marked the launch of the Teller Widget, a tool enabling platforms to offer seamless, in-app DeFi loans. With its quick integration and customizable features, the Teller Widget empowers platforms to expand their offerings and users to manage liquidity efficiently.
Key Features:
- In-App Borrowing: Enable time-based loans for 1-30 days, with no margin calls, directly within a platform.
- Whitelabel Interface: Match the widget’s design with customizable CSS and welcome screens.
- Liquidity Management: Users can boost positions, avoid liquidation, and manage liquidity all in one place.
The Teller Widget enhances the user experience and also helps platforms drive engagement and generate revenue through DeFi integration.
Teller ATM
One of Teller’s biggest releases in 2024 was the Teller ATM, a tool that simplifies borrowing with time-based loans. With no margin calls, no credit checks, and flexible repayment options, the Teller ATM has made accessing liquidity easier than ever.
Key Benefits:
- Simple to Use: Connect your wallet and start borrowing – It’s that easy.
- Token Categories: Loan offers are organized into categories such as GameFi, Memecoins, and AI Coins. Finding the right loan offer is quick and intuitive.
- Support Projects You Care About: When using a Teller Community ATM, a portion of loan fee is sent directly to the community address of each project.
Learn more about the Teller ATM or Borrow NOW
Best Time-Based Loan DeFi Strategy of 2024: AiRev’s Gearbox and Renzo Approach
AiRev leveraged Teller’s time-based loans to amplify their liquid staking strategies. By borrowing wETH against $PRIME holdings, they utilized Gearbox and Renzo Protocol to increase EigenLayer points by 4.8x and Renzo points by 9.5x. Teller’s no-margin-call loans enabled AiRev to secure quick liquidity and capitalize on high-yield DeFi opportunities, showcasing how time-based loans can be utilized in innovative staking and farming strategies.
Discover how AiRev executed this strategy
$PRIME’s Milestone Year on Teller
$PRIME had an exceptional year on Teller, becoming one of the most popular tokens for accessing liquidity without margin calls. Since the first $PRIME loan in August 2023, the Teller platform has facilitated over 100 loans totaling $7.4M+ in volume, helping $PRIME holders tap into liquidity for various DeFi strategies.
Highlights:
- First Loan: August 23, 2023, saw 26K $PRIME used as collateral for a $24K USDC loan.
- Biggest Borrower: Between March and April 2024, one user borrowed a combined 286 WETH and 212K USDC using 200K $PRIME collateral.
- Top Liquidity Access: Over $1.3M in liquidity for $PRIME-backed loans across USDC and WETH.
With a 96% repayment rate, $PRIME loans on Teller exemplify how time-based borrowing can provide flexible liquidity solutions for DeFi users.
Read the full $PRIME Year in Review
$APU Crosses 1M in Loan Volume on Teller
The $APU token played a significant role in Teller’s ecosystem this year, surpassing $1 million in loan volume and becoming a cornerstone collateral in the memecoin borrowing market. From its first cash advance in June to its largest transaction of over $76K in USDC, $APU’s rise underscores the growing demand for flexible liquidity solutions among memecoin aficionados.
Highlights:
- First Cash Advance: $100 USDC borrowed on June 6, 2024, marking the start of $APU’s journey on Teller.
- Largest Advance: $76.33K USDC secured against $APU in June, setting the record for the year.
- Top Borrower: One user borrowed over $639K, leveraging Teller’s flexibility for their DeFi activities.
Partnerships 🤝
Teller partnered with several forward-thinking onchain organizations to expand its reach and capabilities. Partnerships included Paragons DAO, Vision, Wasabi, Polytrade, 0xWorld, Open Dollar, prePO, Courtyard, Namefi, and HolyHeld. These collaborations expanded Teller’s mission to create inclusive financial opportunities and support a broader DeFi ecosystem.
Thank You, Teller Community!
The progress made in 2024 was driven by the support, feedback, and engagement of the Teller community. Your contributions have been invaluable in shaping Teller’s success. As we look toward 2025, Teller remains committed to innovation and collaboration to drive DeFi forward.
Follow Teller on Twitter to stay updated and join us in shaping the future of decentralized finance.
