Total Value Locked$2.445b
TVL by Chain
Stellar$1.509b
Arbitrum$471.87m
Ethereum$215.35m
Polygon$170.81m
Base$40.12m
Starknet$33.4m
Etherlink$4.91m
Key Metrics
Fees (Annualized)$7.22m
Fees 30d$2.62m
Stellar$1.84m
Arbitrum$282,641
Ethereum$260,251
Polygon$172,229
Base$37,296
Starknet$24,579
Etherlink$1,102
Fees 7d$782,797
Stellar$561,948
Ethereum$75,825
Arbitrum$75,769
Polygon$52,075
Base$10,386
Starknet$6,556
Etherlink$238
Fees 24h$114,201
Stellar$82,396
Ethereum$11,093
Arbitrum$10,687
Polygon$7,493
Base$1,556
Starknet$942
Etherlink$34
Cumulative Fees$11.13m
Polygon$6.42m
Stellar$2.52m
Ethereum$1.3m
Arbitrum$761,260
Base$64,144
Starknet$56,259
Etherlink$12,896
Revenue (Annualized)$1.03m
Revenue 30d$433,042
Stellar$256,750
Arbitrum$97,673
Ethereum$35,072
Polygon$28,782
Base$7,209
Starknet$6,475
Etherlink$1,081
Revenue 7d$114,354
Stellar$70,666
Arbitrum$22,578
Ethereum$9,505
Polygon$7,959
Base$1,837
Starknet$1,577
Etherlink$232
Revenue 24h$16,613
Stellar$10,309
Arbitrum$3,224
Ethereum$1,390
Polygon$1,156
Base$274
Starknet$226
Etherlink$34
Cumulative Revenue$1.4m
Polygon$602,396
Stellar$343,743
Ethereum$268,284
Arbitrum$161,107
Base$10,696
Starknet$9,868
Etherlink$2,343
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 $2.445b in total value locked. TVL has increased 108.4% 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 61.7%.
How much has Spiko generated in fees and revenue?
Over the past 30 days, Spiko generated $2.62m in fees. Of that, $433,042 was protocol revenue. Based on the trailing year, the annualized rate is $7.22m in fees and $1.03m 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 $27.487b across 130 protocols, and Spiko accounts for 8.9% of that total. Other leading protocols include Securitize, Ondo Finance, and Tether Gold.
