diff --git a/projects/ithaca/index.js b/projects/ithaca/index.js
index cdb45d8182..443a333cdd 100644
--- a/projects/ithaca/index.js
+++ b/projects/ithaca/index.js
@@ -23,4 +23,4 @@ module.exports = {
       ],
     }),
   }
-}; 
+}; 
\ No newline at end of file
diff --git a/projects/loan-protocol/index.js b/projects/loan-protocol/index.js
new file mode 100644
index 0000000000..7805fba467
--- /dev/null
+++ b/projects/loan-protocol/index.js
@@ -0,0 +1,104 @@
+const { post } = require('../helper/http')
+const sdk = require('@defillama/sdk')
+
+const tokenMapping = {
+  'xtokens:XBTC': 'bitcoin',
+  'xtokens:XLTC': 'litecoin',
+  'xtokens:XETH': 'ethereum',
+  'xtokens:XXRP': 'ripple',
+  'eosio.token:XPR': 'proton',
+  'xtokens:XMT': 'metal',
+  'xtokens:XUSDC': 'usd-coin',
+  'xtokens:XDOGE': 'dogecoin',
+  'xtokens:XUSDT': 'tether',
+  'xtokens:XUST': 'terrausd-wormhole',
+  'xtokens:XLUNA': 'terra-luna-2',
+}
+
+const API_ENDPOINT = 'https://proton.eosusa.io'
+const LENDING_CONTRACT = 'lending.loan'
+
+function parseAsset(assetString) {
+  if (!assetString) return { amount: 0, symbol: '' }
+  const [amount, symbol] = assetString.split(' ')
+  return { amount: parseFloat(amount), symbol }
+}
+
+async function fetchMarkets() {
+  const res = await post(`${API_ENDPOINT}/v1/chain/get_table_rows`, {
+    code: LENDING_CONTRACT,
+    scope: LENDING_CONTRACT,
+    table: 'markets',
+    limit: 100,
+    json: true,
+  })
+  return res.rows || []
+}
+
+async function fetchLiquidity(tokenContract, symbol) {
+  // available liquidity (cash) held by lending.loan for a given token
+  const res = await post(`${API_ENDPOINT}/v1/chain/get_table_rows`, {
+    code: tokenContract,
+    scope: LENDING_CONTRACT,
+    table: 'accounts',
+    limit: 100,
+    json: true,
+  })
+  const rows = res.rows || []
+  const tokenBalance = rows.find(b => parseAsset(b.balance).symbol === symbol)
+  return tokenBalance ? parseAsset(tokenBalance.balance).amount : 0
+}
+
+// ----------------------------
+// TVL = only available liquidity (cash)
+// ----------------------------
+async function tvl() {
+  const balances = {}
+  const markets = await fetchMarkets()
+
+  const promises = markets.map(async (market) => {
+    const [ , symbol ] = market.underlying_symbol.sym.split(',')
+    const tokenContract = market.underlying_symbol.contract
+    const internalId = `${tokenContract}:${symbol}`
+    const cgkId = tokenMapping[internalId]
+    if (!cgkId) return
+
+    const cashAvailable = await fetchLiquidity(tokenContract, symbol)
+    sdk.util.sumSingleBalance(balances, `coingecko:${cgkId}`, cashAvailable)
+  })
+
+  await Promise.all(promises)
+  return balances
+}
+
+// ----------------------------
+// Borrowed = total variable + stable borrows
+// ----------------------------
+async function borrowed() {
+  const balances = {}
+  const markets = await fetchMarkets()
+
+  markets.forEach(market => {
+    const totalVar = parseAsset(market.total_variable_borrows.quantity).amount
+    const totalStable = parseAsset(market.total_stable_borrows.quantity).amount
+    const totalBorrows = totalVar + totalStable
+
+    const [ , symbol ] = market.underlying_symbol.sym.split(',')
+    const tokenContract = market.underlying_symbol.contract
+    const internalId = `${tokenContract}:${symbol}`
+    const cgkId = tokenMapping[internalId]
+    if (!cgkId) return
+
+    sdk.util.sumSingleBalance(balances, `coingecko:${cgkId}`, totalBorrows)
+  })
+
+  return balances
+}
+
+module.exports = {
+  methodology: 'TVL = only available liquidity (cash held by lending.loan). Borrowed = total variable + stable borrows (outstanding debt). Deposits = TVL + Borrowed, but we report liquidity as TVL per DefiLlama standards.',
+  proton: {
+    tvl,
+    borrowed,
+  }
+}
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