Notional V3

Notional V3 is the previous Notional protocol: fixed- and variable-rate lending and borrowing plus leveraged vaults on Ethereum and Arbitrum. It is being wound down after the November 2025 Balancer V2 exploit and now lives at v3.notional.finance, while new strategies launch on Notional Exponent.

Legacy version: Being wound down after the November 2025 Balancer V2 exploit hit V3; the app moved to v3.notional.finance when Notional Exponent took over notional.finance in January 2026.

Other versions of this protocol: Notional Exponent, Notional V2 (legacy).

Rating D: 21 restrictions: 18 countries + Feature Block, Wallet screening, VPN / Tor detection. Lending / leverage · Ethereum, Arbitrum.

Official app: v3.notional.finance. Frontend code: github.com/notional-finance/notional-monorepo.

Restrictions

  • Geo Block: yes. api.notional.finance/geoip -> /error?code=451 for sanctioned countries or a sanctioned address. Blocked countries: Cuba, Iran, Iraq, Syria, North Korea, Russia, Belarus, Central African Republic, Congo - Kinshasa, Congo - Brazzaville, Lebanon, Liberia, Libya, Somalia, Venezuela, Yemen, Zimbabwe.
  • Feature Block: yes. Leveraged products are not available in the US or to VPN users; non-leveraged lending and borrowing stay open. Affected countries: United States.
  • Wallet screening: yes. isSanctionedAddress check in the frontend (same code path as the current app: Chainalysis sanctions oracle) Where it runs: frontend. Fail mode: n/a.
  • VPN / Tor detection: detect. detect.notional.finance: a non-200 answer marks the user as VPN and disables leveraged products.
  • Terms of Service: v3.notional.finance/terms, Last updated unknown. NY, CU, IR, SY, KP, Crimea, VE.

Notes

Same mechanics as the current app plus a VPN detector, all in the frontend.

Live checks

  • v3.notional.finance bundle (2026-10-10): detect.notional.finance VPN check, api.notional.finance/geoip -> /error?code=451, 'Leveraged products are not available in the US or to VPN users'

Evidence

Checked 2026-10-10. All interfaces · Methodology