CounterspanCOUNTERSPAN
Onchain analytics

A clearer view of your markets.

See how debt, available liquidity and collateral determine market ratios.

Market inputs
Utilization

Debt ÷ (debt + available liquidity)

Loan-to-value

Debt ÷ collateral value

Two ratios. Different questions.

Utilization describes how much lendable capital is in use. Loan-to-value describes how much debt collateral supports. Neither number guarantees liquidity or safety. These results follow your inputs, not onchain activity.