Total Value Locked$2.481b
TVL by Chain
Stellar$1.56b
Arbitrum$441.95m
Ethereum$232.75m
Polygon$170.7m
Base$38.13m
Starknet$32.8m
Etherlink$4.91m
Key Metrics
Fees (Annualized)$8.72m
Fees 30d$3.48m
Stellar$2.52m
Ethereum$333,208
Arbitrum$329,992
Polygon$225,383
Base$46,059
Starknet$29,062
Etherlink$1,020
Fees 7d$847,391
Stellar$622,933
Ethereum$78,851
Arbitrum$74,521
Polygon$53,569
Base$10,654
Starknet$6,624
Etherlink$239
Fees 24h$16,855
Stellar$10,658
Arbitrum$3,019
Ethereum$1,508
Polygon$1,154
Base$260
Starknet$222
Etherlink$34
Cumulative Fees$12.7m
Polygon$6.52m
Stellar$3.67m
Ethereum$1.44m
Arbitrum$900,779
Base$84,543
Starknet$68,695
Etherlink$13,340
Revenue (Annualized)$1.23m
Revenue 30d$489,962
Stellar$303,810
Arbitrum$96,149
Ethereum$40,704
Polygon$33,649
Base$7,848
Starknet$6,798
Etherlink$1,004
Revenue 7d$118,449
Stellar$74,714
Arbitrum$21,799
Ethereum$10,071
Polygon$8,175
Base$1,867
Starknet$1,585
Etherlink$238
Revenue 24h$16,855
Stellar$10,658
Arbitrum$3,019
Ethereum$1,508
Polygon$1,154
Base$260
Starknet$222
Etherlink$34
Cumulative Revenue$1.62m
Polygon$617,623
Stellar$482,337
Ethereum$286,758
Arbitrum$202,180
Base$14,178
Starknet$12,828
Etherlink$2,785
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 $2.481b in total value locked. TVL has increased 10% over the past 30 days.
What chains does Spiko operate on?
Spiko operates on 7 chains: Ethereum, Base, Stellar, Polygon, and Etherlink and 2 others. Stellar holds the largest share at 62.9%.
How much has Spiko generated in fees and revenue?
Over the past 30 days, Spiko generated $3.48m in fees. Of that, $489,962 was protocol revenue. Based on the trailing year, the annualized rate is $8.72m in fees and $1.23m 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 $27.644b across 146 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.
