Ask about Spiko · freeRWA Active AUM$2.918b
Key Metrics
Fees 30d$11.96m
Fees 30d by chain
Stellar$6.47m
Arbitrum$2.78m
Ethereum$1.51m
Polygon$816,723
Base$206,203
Starknet$134,706
Etherlink$48,923
Fees 7d$1.79m
Stellar$1.24m
Arbitrum$227,808
Ethereum$183,811
Polygon$100,568
Base$23,622
Starknet$10,149
Etherlink$3,697
Fees 24h$19,877
Stellar$14,138
Arbitrum$2,550
Ethereum$1,696
Polygon$1,109
Base$271
Starknet$80
Etherlink$33
Cumulative Fees$30.87m
Stellar$14.72m
Polygon$7.7m
Arbitrum$4.29m
Ethereum$3.52m
Base$360,453
Starknet$212,515
Etherlink$63,606
Revenue 30d$576,683
Revenue 30d by chain
Stellar$397,482
Arbitrum$84,239
Ethereum$50,061
Polygon$33,531
Base$8,001
Starknet$2,379
Etherlink$990
Revenue 7d$137,921
Stellar$97,713
Arbitrum$17,957
Ethereum$11,870
Polygon$7,712
Base$1,884
Starknet$554
Etherlink$231
Revenue 24h$19,877
Stellar$14,138
Arbitrum$2,550
Ethereum$1,696
Polygon$1,109
Base$271
Starknet$80
Etherlink$33
Cumulative Revenue$2.91m
Stellar$1.33m
Polygon$696,698
Arbitrum$420,429
Ethereum$402,065
Base$32,906
Starknet$18,503
Etherlink$5,106
Total Raised$112m
Jul 17, 2025$22mRound: Series AInvestors: Index Ventures, Blockwall Management, White Star Capital, BPI France, Frst, Rerail
Oct 6, 2026$90mRound: Series BInvestors: New Enterprise Associates, Index Ventures, BPI France, Speedinvest, Flourish Ventures, Shapers, White Star Capital, BlockWall Digital, Mirana Ventures, Wintermute Ventures, Axel Weber, EQNX, Frst
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
Sub Category: Treasury Bills
Audits:
Methodology
Fees: 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
Spiko history
Fees and revenue by UTC calendar month, Dec 2024 to Nov 2026
| Month | Fees | Revenue |
|---|---|---|
| Dec 2024 | $384,033 | $27,100 |
| Jan 2025 | $327,449 | $29,689 |
| Feb 2025 | $244,491 | $26,148 |
| Mar 2025 | $267,252 | $31,957 |
| Apr 2025 | $306,733 | $34,624 |
| May 2025 | $298,199 | $37,014 |
| Jun 2025 | $306,353 | $38,218 |
| Jul 2025 | $332,390 | $40,056 |
| Aug 2025 | $342,687 | $42,147 |
| Sep 2025 | $382,202 | $44,076 |
| Oct 2025 | $385,687 | $44,398 |
| Nov 2025 | $319,941 | $43,086 |
| Dec 2025 | $331,770 | $42,088 |
| Jan 2026 | $341,689 | $44,455 |
| Feb 2026 | $379,605 | $46,201 |
| Mar 2026 | $330,047 | $46,678 |
| Apr 2026 | $246,055 | $33,859 |
| May 2026 | $207,047 | $34,729 |
| Jun 2026 | $263,520 | $56,991 |
| Jul 2026 | $2.32m | $314,311 |
| Aug 2026 | $3.34m | $508,530 |
| Sep 2026 | $4.25m | $530,579 |
| Oct 2026 | $12m | $584,086 |
| Nov 2026 (to date) | $1.83m | $176,977 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/spiko
Frequently asked questions
What chains does Spiko operate on?
Spiko operates on 7 chains: Polygon, Ethereum, Arbitrum, Base, and Starknet and 2 others.
How much has Spiko generated in fees and revenue?
Over the past 30 days, Spiko generated $11.96m in fees. Of that, $576,683 was protocol revenue. Based on the trailing year, the annualized rate is $26.05m in fees and $2.43m in revenue.
How does Spiko's TVL compare to similar protocols?
Among RWA protocols tracked by DefiLlama, Spiko ranks #128 by TVL. The category holds $3.647b across 178 protocols, and Spiko accounts for 0% of that total. Similar protocols include Tangible RWA, Mountain Protocol, Boson Protocol, Sweep, Re, Ember, Brickken, Theo Network thBill, Travessia Credit, and Solv Vesting.