1. Built on Ethereum. • Collateral: wstETH, rETH • Stablecoin: R, market value of $31 million Raft is a decentralized lending protocol that allows users to borrow stablecoin R with LST (currently supports stETH) as collateral. Raft's product features include flash exchange and one-step leverage functions, which can increase leverage by up to 11 times at one time.

2. Built on Optimism. • Collateral: ETH, wBTC, OP • Stablecoin: ERN, market cap $3.4 million Ethos Reserve will allow anyone to get an interest-free loan in ERN while generating yield on their collateral. There is no LST at the moment, but it will be available with v2.

3. Built on Secret Network. • Collateral: stATOM, stOSMO, stkd-SCRT • Stablecoin: SILK, market value $2.8 million Shade Protocol is a connected privacy-preserving DeFi application built on Secret Network. The privacy-preserving stablecoin SILK uses the algorithmic stablecoin model pioneered by Terra/Luna and is pegged to gold, Bitcoin, the US dollar, etc.

​4. Built on Arbitrum • Collateral: ETH, wstETH, GMX, ARB, GLP, DPX, gOHM • Stablecoin: VST, market cap $7.3M Users can deposit assets as collateral to mint VST stablecoins based on their collateral ratio (CR). Assets deposited in Vesta will enter the active pool. In the author's opinion, Vesta is still the best CDP protocol for Arbitrum.

​5. Built on the Curve ecosystem • Collateral: wstETH, cbETH, rETH, sfrxETH and WBETH • Stablecoin: acUSD The core demand that Prisma Finance solves is the improvement of capital efficiency. Users can leverage by minting stablecoins through CDP while retaining the price volatility and yield exposure of LST.