DeFi Intel

Notional Finance protocol

fixed-rate-lending · PageRank 0.0060

Also known as: Notional

Overview

Notional Finance is a fixed-rate lending protocol; DefiLlama's entry for Notional V3 describes it simply as 'Fixed rate lending on Ethereum'. The V3 deployment runs on Ethereum and Arbitrum, uses NOTE as its governance token (contract 0xcfeaead4947f0705a14ec42ac3d44129e1ef3ed5), and is categorised under Lending. It sits under a parent DefiLlama entry covering earlier versions of the protocol, and was listed on DefiLlama on 14 November 2023. Two audits are recorded, both Sherlock audit contests. Critically, the protocol is now essentially dormant by TVL: the DefiLlama protocol API read on 22 July 2026 showed roughly $795 on Arbitrum and $49 on Ethereum — that is, a few hundred dollars, not millions — indicating that liquidity has effectively left Notional V3. Anyone evaluating Notional today should treat it as a wound-down or near-abandoned deployment rather than an active lending market. Notional went through multiple protocol generations, with V3 launched on Ethereum and Arbitrum and indexed by DefiLlama from November 2023. Its recorded TVL has since collapsed to negligible levels.

Within the DeFi Intel graph, Notional Finance connects to 6 tracked entities, most strongly to Ethereum, Arbitrum, Arbitrum.

Relations

Top connections in the DeFi Intel knowledge graph (confidence-weighted, 6 of 6 total).

RelationConnected entityConfidence
deployed_onEthereum85%
deploys_onArbitrum85%
deployed_onArbitrum85%
competes_withPendle Finance85%
influencedYield Protocol80%
competes_withSpectra Finance75%

Frequently asked questions

What is Notional Finance?

Notional Finance is a fixed-rate-lending tracked in the DeFi Intel knowledge graph. It is connected to 6 other tracked entities, most strongly to Ethereum, Arbitrum, Arbitrum.

What type of entity is Notional Finance?

Notional Finance is classified as a fixed-rate-lending (protocol) in the DeFi Intel knowledge graph.

What is Notional Finance connected to?

In the DeFi Intel knowledge graph, Notional Finance is linked to 6 other tracked entities, most strongly to Ethereum, Arbitrum, Arbitrum.

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Sources

Facts on this page were verified against the following sources.