Total Value Locked$2.521b
TVL by Chain
Stellar$1.581b
Arbitrum$447.38m
Ethereum$247.55m
Polygon$167.94m
Base$39.44m
Starknet$32.55m
Etherlink$4.92m
Key Metrics
Fees 30d$3.73m
Fees 30d by chain
Stellar$2.71m
Ethereum$366,931
Arbitrum$338,855
Polygon$239,001
Base$48,500
Starknet$29,558
Etherlink$1,022
Fees 7d$879,094
Stellar$635,347
Ethereum$96,230
Arbitrum$75,695
Polygon$54,485
Base$10,731
Starknet$6,367
Etherlink$239
Fees 24h$357,849
Stellar$260,384
Ethereum$41,208
Arbitrum$27,759
Polygon$21,836
Base$4,312
Starknet$2,315
Etherlink$35
Cumulative Fees$13.9m
Polygon$6.59m
Stellar$4.54m
Ethereum$1.58m
Arbitrum$998,197
Base$99,066
Starknet$76,933
Etherlink$13,546
Revenue 30d$499,728
Revenue 30d by chain
Stellar$311,685
Arbitrum$95,017
Ethereum$42,962
Polygon$34,328
Base$7,962
Starknet$6,764
Etherlink$1,010
Revenue 7d$118,751
Stellar$74,689
Arbitrum$21,086
Ethereum$11,331
Polygon$8,008
Base$1,854
Starknet$1,545
Etherlink$238
Revenue 24h$17,123
Stellar$10,801
Arbitrum$3,055
Ethereum$1,609
Polygon$1,135
Base$269
Starknet$220
Etherlink$34
Cumulative Revenue$1.72m
Polygon$624,459
Stellar$546,515
Ethereum$296,682
Arbitrum$220,285
Base$15,781
Starknet$14,149
Etherlink$2,989
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
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's TVL?
Spiko currently has $2.521b in total value locked. TVL has increased 10.5% over the past 30 days.
What chains does Spiko operate on?
Spiko operates on 7 chains: Arbitrum, Etherlink, Ethereum, Polygon, and Base and 2 others. Stellar holds the largest share at 62.7%.
How much has Spiko generated in fees and revenue?
Over the past 30 days, Spiko generated $3.73m in fees. Of that, $499,728 was protocol revenue. Based on the trailing year, the annualized rate is $9.52m in fees and $1.32m 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 $27.866b across 150 protocols, and Spiko accounts for 9% of that total. Other leading protocols include Midas RWA, VNX, Ondo Yield Assets, Tangible RWA, OpenEden USDO, BackedFi, Mountain Protocol, Boson Protocol, Sweep, and BlackRock BUIDL.
