Covenant
Covenant is a liquid credit market on Monad that turns any on-chain asset into leverage and yield tokens.
What is Covenant?
Covenant wraps on-chain collateral into two paired tokens: LEVERAGE-Coins, which trade like liquidation-free levered positions on the underlying asset, and YIELD-Coins, over-collateralized yield-bearing debt. The protocol uses the collateral itself as liquidity, so both leverage and yield trade like a DEX.
Web3 dapps and developer tools related to Covenant
Discover blockchain applications that are frequently used with Covenant.
Shade Protocol
Flying Tulip
OpenLeverage
Buttonwood
Developer resources from Alchemy
What are cross-border digital payments?
Learn how correspondent banking works and how stablecoins are cutting costs by up to 80%.
Banking on blockchain: How TradFi and Fintech are racing to embrace crypto
Discover why top financial institutions and fintechs are adopting crypto—fast. This playbook breaks down the strategies, opportunities, and infrastructure needed to build crypto products at scale, with Alchemy as your enterprise-grade partner.
Liminal eliminates downtime using Alchemy’s Transfer API
Liminal provides an easy-to-setup and simple-to-use digital asset wallet infrastructure and custody platform.
Covenant alternatives
Explore web3 competitors and apps like Covenant.
Aave
Compound
Auro Finance
Pike FinanceApp store listings are independently reviewed and written by Alchemy using a combination of inbound submissions, editorial research, public project sources, and third-party directories, including ecosystem data from The Grid under the Open Database License, DefiLlama, DappRadar, Reown, and chain ecosystem pages.
