Total Value Locked$2.423b
TVL by Chain
Stellar$1.487b
Arbitrum$472.96m
Ethereum$215.24m
Polygon$170.61m
Base$38.22m
Starknet$33.32m
Etherlink$4.91m
Key Metrics
Fees (Annualized)$7.21m
Fees 30d$2.61m
Stellar$1.84m
Arbitrum$282,379
Ethereum$259,400
Polygon$171,563
Base$37,184
Starknet$24,510
Etherlink$1,127
Fees 7d$782,257
Stellar$561,514
Arbitrum$75,818
Ethereum$75,755
Polygon$51,992
Base$10,386
Starknet$6,555
Etherlink$237
Fees 24h$16,452
Stellar$10,159
Arbitrum$3,230
Ethereum$1,389
Polygon$1,154
Base$261
Starknet$226
Etherlink$33
Cumulative Fees$11.02m
Polygon$6.41m
Stellar$2.44m
Ethereum$1.29m
Arbitrum$750,569
Base$62,588
Starknet$55,317
Etherlink$12,861
Revenue (Annualized)$1.01m
Revenue 30d$424,533
Stellar$250,176
Arbitrum$97,411
Ethereum$34,221
Polygon$28,116
Base$7,097
Starknet$6,406
Etherlink$1,106
Revenue 7d$113,814
Stellar$70,232
Arbitrum$22,627
Ethereum$9,435
Polygon$7,876
Base$1,837
Starknet$1,576
Etherlink$231
Revenue 24h$16,452
Stellar$10,159
Arbitrum$3,230
Ethereum$1,389
Polygon$1,154
Base$261
Starknet$226
Etherlink$33
Cumulative Revenue$1.38m
Polygon$601,238
Stellar$333,423
Ethereum$266,893
Arbitrum$157,879
Base$10,422
Starknet$9,642
Etherlink$2,308
Total Raised$22m
Jul 17, 2025$22mRound: Series AInvestors: Index Ventures, Blockwall Management, White Star Capital, BPI France, Frst, Rerail
Protocol Information
Spiko USTBL / EUTBL are Tokenized Money Market Funds regulated by the French Financial Markets Authority that invest in US T-Bills / Eurozone T-Bills
Category:RWA
Sub Category: Treasury Bills
Audits:
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Net NAV growth from Spiko funds (USTBL/EUTBL/UKTBL/SPKCC/eurSPKCC and the SAFO Amundi Overnight Swap funds) distributed to holders, plus Spiko's annual management fee. The published NAV is already net of fees, so the management fee is added on top to reconstruct gross fees.View code on GitHubRevenue: Spiko management fees on assets under management: 0.25%/yr for the T-bill funds (USTBL/EUTBL/UKTBL), 0.10%/yr for the Cash & Carry funds (SPKCC/eurSPKCC), and 0.25%/yr for the Amundi Overnight Swap funds (SAFO/eurSAFO/gbpSAFO/chfSAFO). The Cash & Carry funds also charge a 25% performance fee above the risk-free rate (SOFR) that is not captured, since only the net NAV is published on-chain.View code on GitHubCompetitors
Frequently Asked Questions
What is Spiko?
Spiko USTBL / EUTBL are Tokenized Money Market Funds regulated by the French Financial Markets Authority that invest in US T-Bills / Eurozone T-Bills
What is Spiko's TVL?
Spiko currently has $2.423b in total value locked. TVL has increased 107.7% over the past 30 days.
What chains does Spiko operate on?
Spiko operates on 7 chains: Etherlink, Base, Ethereum, Stellar, and Starknet and 2 others. Stellar holds the largest share at 61.4%.
How much has Spiko generated in fees and revenue?
Over the past 30 days, Spiko generated $2.61m in fees. Of that, $424,533 was protocol revenue. Based on the trailing year, the annualized rate is $7.21m in fees and $1.01m in revenue.
How does Spiko's TVL compare to similar protocols?
Among RWA protocols tracked by DefiLlama, Spiko ranks #5 by TVL. The category holds $27.387b across 130 protocols, and Spiko accounts for 8.8% of that total. Other leading protocols include Securitize, Ondo Finance, and Tether Gold.
