Flow Labs is a team of builders who love this ecosystem. We want to deliver Cardano's most useful and easy-to-use lending product, starting with Surf.
We're engineers, designers, and DeFi power users who have been on Cardano since the early days. We build here because we believe in what this chain stands for. Its community deserves tools as good as its ideals.
Everything we ship is judged by two things: does it push what's possible on Cardano forward, and does it feel great to use. Innovation and user experience aren't separate goals for us; they're the same job.
When we started in 2025, lending on Cardano came in two flavours. Pooled markets supported only a short list of assets and imposed hard borrowing caps. In peer-to-peer order books, borrowers posted their own APR, loan term and collateral, then waited for a lender to fill the request. Alternatively, they had to accept the terms of an existing lender offer. Neither model offered the experience, or met the needs, of a huge portion of Cardano-native token holders.
Isolated pooled lending markets with perpetual loans and rates that follow utilization. Each market isolates its risk from the others, and there is no fixed repayment date; you repay when it suits you. We also introduced one-click leverage and repay with collateral, the first features of their kind on Cardano, and tools people didn't know they wanted until they had them.
Demand showed up quickly. At its peak, more than 3 billion SNEK, worth around 13M ADA, was locked in Surf loans. That was several times the cap available elsewhere at the time. For many token communities, Surf was the first place holders could borrow without selling.
Today Surf is one of Cardano's most active lending protocols; total value locked recently peaked at 31M ADA, dominated by STRIKE and SNEK loans. V2 combines dynamic rates, time-based lender interest, multi-collateral pools and Community Pools. Together, these features take Surf to the next level: fairer, more flexible and more competitive for stablecoin liquidity.
Audited, non-custodial smart contracts on Cardano. V1 has been live since 2025, with V2 launching next.
Markets, portfolio, leverage, staking and analytics in one product built and operated by our team.
Batchers, oracle operations, liquidation and leverage workers, and the monitoring that keeps them honest.
Community Pools, the public API and documentation give projects a way to create markets on Surf and build tooling on top of the protocol.
We think about the product as a whole rather than in parts, and put user experience and product excellence first. What matters is whether people use what we build.
We weigh every design decision from the perspectives of lenders, borrowers and stakers, and balance the benefits across all three. A market only works when every side of it is treated fairly.
Surf has completed two independent audits, accepts private vulnerability reports and publishes the V1 smart-contract source for anyone to verify. The V2 audit, known-issues register and public bug bounty will follow. See the audits →
Surf DAO governance will take on more responsibility for treasury use, protocol parameters and listings over time. We also plan to open liquidation and batching infrastructure to community operators.
Make Surf the credit engine of Cardano, helping people earn yield from real borrower demand and unlock liquidity from their assets.
Surf will place more protocol decisions in the hands of its community over time.
The Surf DAO gives SURF holders a path to shape protocol decisions such as community initiatives, treasury use, selected fee parameters, ecosystem incentives, and future governance upgrades. As Surf grows, more responsibility can move from the core team toward transparent community governance.
Today, Flow Labs builds and operates the main product. The DAO's role is expected to expand gradually, with security, user protection, and clear accountability taking priority over rushing decentralization for appearances.
Open governanceOur code, audits and governance activity are public, and the team answers in Discord every day. Building something on Cardano, or want to build with us?