Vesu

Vesu is a modular lending protocol on Starknet where anyone can create a market without permission, setting the collateral asset, the debt asset, liquidation thresholds and the interest-rate curve, and choosing an oracle such as Pragma for pricing. Unlike most lending venues it has no governance token and no admin key: the pool creator fixes the parameters and depositors judge the risk themselves, which leaves the protocol closer to public infrastructure than to a governed product.

Its differentiator is programmable hooks, which let a pool creator insert custom logic at deposit, borrow and liquidation steps to build isolated markets, route incentives or handle unusual collateral, at the cost of a wider contract attack surface; a ChainSecurity review noted that the complexity and extensibility create a large exposure. The protocol also offers Vesu Vaults, which spread deposits across markets to smooth yield. DefiLlama puts locked value near 20 million dollars, the largest lending protocol on Starknet, with its WBTC market at about 21.46 percent utilisation and a 0.37 percent base lend rate, above comparable markets on Ethereum, Arbitrum and BNB Chain.