Performances
RD Popularity Index
RD Growth Index
Revenue & Burn
Protocol income
$241.56Buyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Nov 2026 | $241.56 | -- | -- | -- |
| Oct 2026 | $979.61 | -- | -- | -- |
| Sep 2026 | $700.07 | -- | -- | -- |
| Aug 2026 | $801.01 | -- | -- | -- |
| Jul 2026 | $797.36 | -- | -- | -- |
| Jun 2026 | $425.11 | -- | -- | -- |
Comparison
Follow Updates
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People
About Surge
Surge is a credit-line market collateralized by native bitcoin: borrowers lock BTC in a Taproot vault to draw USDC or USDT instead of selling the coin or wrapping it into an ERC-20 first. Each credit line maps to its own P2TR address whose script pre-commits three spend paths — cooperative repayment, authorized liquidation, and unilateral exit after a relative timelock — so collateral never enters the platform balance sheet and is not rehypothecated.
Signing is performed by a distributed custody network using threshold Schnorr, with no single signer holding a complete key. The debt ledger, share-based liquidity pool, utilization interest-rate curve and Dutch-auction liquidation run in EVM contracts, and oracle prices must pass a second check by the custody network before liquidation, which only begins once collateral health falls below 90%; initial LTV is 50%. On 27 April 2026 Surge moved from private to public beta at Bitcoin 2026 in Las Vegas; disclosed figures show up to about 8 BTC locked during the public beta, average borrowing APR near 6.5% and a fixed-rate tier at 9.9%.
5%, fixed-rate credit was offered at 9.9%, and collateral locked reached as much as 8 BTC.
Surge's design places BTC collateral in Taproot vaults co-managed by a threshold signer network, keeps it on Bitcoin with zero rehypothecation, liquidates only if collateral health falls past 90%, and adds a timelocked unilateral exit so borrowers can recover assets if the service stops.
The 90-day plan published with the Surge beta covers a full public launch, adding more signers to the distributed custody network, completing the next audit phase, and partnering with distributors to offer Bitcoin-backed credit through wallets, exchanges and neobanks, while raising LTV from 50%.
Michael Borglin — Co-founder & CEO; based in San Francisco, building Bitcoin's non-custodial credit layer at Presidio Bitcoin.
Yash Belavadi — Founder & CPO; computer science graduate and former CPO of Frontier.
Punith B M — Co-founder & CTO; specializes in Go, Rust and Bitcoin scaling architecture.