Ask about Spiko · freeRWA Active AUM$2.867b
Key Metrics
Fees 30d$11.9m
Fees 30d by chain
Stellar$6.48m
Arbitrum$2.73m
Ethereum$1.5m
Polygon$809,552
Base$201,597
Starknet$130,460
Etherlink$47,085
Fees 7d$1.76m
Stellar$1.2m
Arbitrum$234,216
Ethereum$181,680
Polygon$100,251
Base$22,497
Starknet$10,664
Etherlink$3,684
Fees 24h$255,853
Stellar$175,016
Arbitrum$34,212
Ethereum$26,724
Polygon$14,439
Base$3,326
Starknet$1,604
Etherlink$532
Cumulative Fees$29.62m
Stellar$13.84m
Polygon$7.63m
Arbitrum$4.14m
Ethereum$3.41m
Base$343,627
Starknet$207,617
Etherlink$61,603
Revenue 30d$569,991
Revenue 30d by chain
Stellar$387,615
Arbitrum$87,622
Ethereum$49,847
Polygon$33,550
Base$7,989
Starknet$2,378
Etherlink$990
Revenue 7d$135,139
Stellar$95,303
Arbitrum$17,908
Ethereum$11,629
Polygon$7,673
Base$1,842
Starknet$553
Etherlink$231
Revenue 24h$19,543
Stellar$13,807
Arbitrum$2,562
Ethereum$1,697
Polygon$1,096
Base$269
Starknet$79
Etherlink$33
Cumulative Revenue$2.81m
Stellar$1.26m
Polygon$691,172
Arbitrum$407,604
Ethereum$393,587
Base$31,551
Starknet$18,107
Etherlink$4,941
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) | $559,993 | $58,178 |
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 $11.9m in fees. Of that, $569,991 was protocol revenue. Based on the trailing year, the annualized rate is $24.87m in fees and $2.34m 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 $3.8b 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.