diff --git a/projects/elix-fi/index.js b/projects/elix-fi/index.js
new file mode 100644
index 000000000..ac94bf3e4
--- /dev/null
+++ b/projects/elix-fi/index.js
@@ -0,0 +1,84 @@
+
+const { cachedGraphQuery } = require("../helper/cache");
+
+const config = {
+  somnia: {
+    reader: "0xd64f451698bb38cd594bf54b52fd3608c1f9863a",
+    api_url: "https://elixfi-indexer.up.railway.app/",
+    chainId: 5031,
+  }
+}
+
+const abi = {
+  openMarkets: "function openMarkets() view returns ((address,address,uint256)[])",
+  offerList: "function offerList((address,address,uint256),uint256,uint256) view returns (uint256,uint256[],(uint256,uint256,int256,uint256)[],(address,uint256,uint256,uint256)[])",
+  getUnderlyingBalances: "function getUnderlyingBalances() public view returns (uint256 baseAmount, uint256 quoteAmount)",
+  totalBalances: "function totalBalances() public view returns (uint256 baseAmount, uint256 quoteAmount)",
+}
+
+
+const query = (chainId) => `
+query DefiLlama {
+  vaultsV2s (where:{chainId:"${chainId}"}) {
+    items{
+      address
+      baseAddress
+      quoteAddress
+      kandelAddress
+    }
+  }
+}
+`
+
+module.exports = {
+  methodology: "TVL is the total value promised on Elix.fi markets in addition to all non promised value that are in the ALM vaults.",
+  start: "2025-10-20",
+  doublecounted: true,
+}
+
+async function getBalances(api, items, vaultMakers, version) {
+  const balances = await api.multiCall({ abi: version === 1 ? abi.getUnderlyingBalances : abi.totalBalances, calls: items.map(vault => vault.address) })
+  balances.forEach((bals, i) => {
+    const { baseAddress, quoteAddress, kandelAddress } = items[i]
+    vaultMakers.add(kandelAddress.toLowerCase())
+
+    api.add(baseAddress.toLowerCase(), bals.baseAmount)
+    api.add(quoteAddress.toLowerCase(), bals.quoteAmount)
+  })
+}
+
+Object.keys(config).forEach(chain => {
+  const configEntry = config[chain]
+  module.exports[chain] = {
+    tvl: async (api) => {
+      // vault tvl
+      const { vaultsV2s: { items: itemsV2 } } = await cachedGraphQuery(`elix-vaults-v2-${configEntry.chainId}`, configEntry.api_url, query(configEntry.chainId))
+      const vaultMakers = new Set()
+      
+      await getBalances(api, itemsV2, vaultMakers, 2)
+
+      // book tvl
+      const openMarkets = await api.call({ target: configEntry.reader, abi: abi.openMarkets, })
+      for (const market of openMarkets) {
+        let currentId = 0
+        const token = market[0]
+        do {
+
+          const [newCurrId, _, offers, offerDetails] = await api.call({
+            target: configEntry.reader,
+            abi: abi.offerList,
+            params: [market, currentId, 100],
+          })
+          offers.forEach((offer, index) => {
+            const maker = offerDetails[index][0].toLowerCase()
+            if (vaultMakers.has(maker)) return // skip vaults
+            const gives = offer[3]
+            api.add(token.toLowerCase(), gives)
+          })
+
+          currentId = +newCurrId
+        } while (currentId !== 0)
+      }
+    }
+  }
+})