Total Value Locked$5.527b
TVL by Chain
Ethereum$5.527b
The chart plots Staking as its own series; it is not part of the TVL above.
Key Metrics
Fees 30d$27.77m
Fees 30d by chain
Ethereum$27.77m
Fees 7d$6.72m
Ethereum$6.72m
Fees 24h$954,122
Ethereum$954,122
Cumulative Fees$1.275b
Ethereum$1.275b
Revenue 30d$13.48m
Revenue 30d by chain
Ethereum$13.48m
Revenue 7d$3.1m
Ethereum$3.1m
Revenue 24h$451,969
Ethereum$451,969
Cumulative Revenue$772.36m
Ethereum$772.36m
Holders Revenue 30d$5.82m
Holders Revenue 30d by chain
Ethereum$5.82m
Holders Revenue 7d$1.29m
Ethereum$1.29m
Holders Revenue 24h$184,207
Ethereum$184,207
Cumulative Holders Revenue$171.51m
Ethereum$171.51m
Collateral Liquidated 30d$0
Collateral Liquidated 30d by chain
Ethereum$0
Collateral Liquidated 7d$0
Ethereum$0
Collateral Liquidated 24h$0
Ethereum$0
Cumulative Collateral Liquidated$0
Ethereum$0
Staked$722.13m
Total Raised$54.5m
Dec 15, 2017$12mRound: Investors: Polychain Capital, Andreessen Horowitz, Distributed Capital Partners, Scanate, FBG Capital, Wyre Capital, Walden Bridge Capital, 1Confirmation
Sep 24, 2018$15mRound: Investors: a16z
Dec 19, 2019$27.5mRound: Investors: Dragonfly Capital, Inflection, Paradigm
Annual Operational Expenses$27.66m
Headcount97
Others$7.91m
Salaries$18.54m
Delegates$1.21m
Sourceshttps://expenses.makerdao.network/https://expenses.makerdao.network/recognized-delegates/finances/reports?viewMonth=Feb2023
NotesBased on data from Feb 2023
Last UpdateApr 29, 2023
Protocol Information
The USDS stablecoin powers the open Sky ecosystem. It is the upgraded version of DAI, providing new ways for you to have more rewarding crypto experiences.
Audits:
Methodology
TVL: Counts all the tokens being used as collateral of CDPs. On the technical level, we get all the collateral tokens by fetching events, get the amounts locked by calling balanceOf() directly, unwrap any uniswap LP tokens and then get the price of each token from coingecko. Also includes PSM USDC balance.View code on GitHubFees: Stability fees charged on DAI/USDS loans, liquidation income from collateral auctions, and PSM (Peg Stability Module) fees from USDC/DAI conversionsView code on GitHubRevenue: Fees collected minus savings rate paid to DSR depositorsView code on GitHubHolders Revenue: SKY token buybacks + staking rewards for sky stakersView code on GitHubCollateral Liquidated: Collateral confiscated from vaults in Dog Bark events (Liquidations 2.0), converted from the internal 18 decimal amount to the collateral token using the IlkRegistry gem and dec.View code on GitHubYields
Pools Tracked8
Average Supply APY3.99%
Competitors
Sky Lending history
Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $28.56m | $18.91m | $366,417 |
| Dec 2024 | $43.55m | $28.36m | $0 |
| Jan 2025 | $42.5m | $18.44m | $0 |
| Feb 2025 | $36.83m | $9.01m | $4.39m |
| Mar 2025 | $34.34m | $13.5m | $18.12m |
| Apr 2025 | $28.22m | $15.65m | $17.44m |
| May 2025 | $28.22m | $17.27m | $15.08m |
| Jun 2025 | $27.98m | $17.92m | $14.46m |
| Jul 2025 | $30.71m | $22.33m | $12.3m |
| Aug 2025 | $37.22m | $29.24m | $12.27m |
| Sep 2025 | $36.49m | $28.19m | $11.83m |
| Oct 2025 | $35.83m | $25.16m | $12.11m |
| Nov 2025 | $36m | $22.53m | $8.5m |
| Dec 2025 | $36.35m | $20.63m | $8.49m |
| Jan 2026 | $34.89m | $19.78m | $8.5m |
| Feb 2026 | $32.03m | $17.03m | $7.72m |
| Mar 2026 | $35.46m | $15.48m | $4.39m |
| Apr 2026 | $33.46m | $14.81m | $1.13m |
| May 2026 | $33.36m | $15.08m | $1.15m |
| Jun 2026 | $30.56m | $12.68m | $1.11m |
| Jul 2026 | $29.45m | $14.24m | $1.16m |
| Aug 2026 | $28.12m | $14.12m | $2.48m |
| Sep 2026 | $26.83m | $13.44m | $5.08m |
| Oct 2026 (to date) | $17m | $8.03m | $3.45m |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/sky-lending
Frequently asked questions
What is Sky Lending's TVL?
Sky Lending currently has $5.527b in total value locked.
What chains does Sky Lending operate on?
Sky Lending operates on Ethereum. Ethereum holds the largest share at 100%.
How much has Sky Lending generated in fees and revenue?
Over the past 30 days, Sky Lending generated $27.77m in fees. Of that, $13.48m was protocol revenue. Based on the trailing year, the annualized rate is $389.23m in fees and $198.3m in revenue.
How does Sky Lending's TVL compare to similar protocols?
Among CDP protocols tracked by DefiLlama, Sky Lending ranks #1 by TVL. The category holds $7.734b across 198 protocols, and Sky Lending accounts for 72.9% of that total. Other leading protocols include USDD, Liquity V1, crvUSD, Liquity V2, Reservoir Protocol, Frankencoin, Inverse Finance FiRM, BIMA CDP, Inverse Finance Frontier, and Abracadabra Spell.
How many yield pools does Sky Lending have?
DefiLlama tracks 8 Sky Lending yield pools with an average APY of 4%.