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HyperEVM
Hyperliquid L1
Live since MAY 2025
#2 of 3 lending protocols
Active Loans
$105.79M
30d -1.6%
Borrow Interest
$10.02M
annualized
Net Interest Margin
93 bps
weighted spread
Utilization
28.8%
loans ÷ deposits
Active Loans 30d Δ
-1.6%
vs 30 days ago
TVL
$323.03M
share 38.8%
Lending TVL on HyperEVM. Top 3 Protocols
Top 3 lending protocols on HyperEVM by TVL. 7-day moving average.
HyperLend Pooled
Morpho
Euler V2
Top Markets on HyperEVM
| Market | Total Supply | Active Loans | Utilization | Supply APY | Borrow APY | Borrow Interest |
|---|---|---|---|---|---|---|
| WHYPE / USDC77% LLTV | $38.26M | $32.96M | 86.1% | 6.63% | 7.74% | $2.55M |
| kHYPE / WHYPE86% LLTV | $30.23M | $30.23M | 100.0% | 9.73% | 9.73% | $2.94M |
| kHYPE / USDC63% LLTV | $16.45M | $15.27M | 92.9% | 11.14% | 12.05% | $1.84M |
| AVLT / USD₮092% LLTV | $7.27M | $6.44M | 88.6% | 8.98% | 10.20% | $656.19K |
| kHYPE / USD₮063% LLTV | $6.38M | $5.42M | 84.8% | 5.77% | 6.83% | $369.97K |
| kHYPE / USDC77% LLTV | $4.53M | $4.08M | 90.1% | 7.04% | 7.84% | $319.93K |
| WHYPE / USD₮063% LLTV | $3.78M | $3.53M | 93.4% | 13.72% | 14.77% | $520.7K |
| WHYPE / USDC63% LLTV | $1.83M | $1.74M | 95.0% | 16.94% | 17.91% | $311.34K |
| lstHYPE / WHYPE92% LLTV | $971.68K | $736.73K | 75.8% | 2.63% | 3.48% | $25.62K |
| UBTC / USD₮077% LLTV | $928.44K | $872.06K | 93.9% | 14.76% | 15.78% | $137.64K |
Top Vaults on HyperEVM
| Name | Curator | Asset | TVL | Net APY | Fee | Curator Fees 30d | 30d Δ TVL |
|---|---|---|---|---|---|---|---|
| Felix USDC (Frontier) | Felix | USDC | $33.61M | 5.91% | 10.0% | $18.19K | +$12.19M |
| Felix HYPE | Felix | WHYPE | $29.25M | 8.67% | 10.0% | $23.26K | -$21.03M |
| Felix USDC | Felix | USDC | $10.89M | 9.88% | 10.0% | $9.87K | -$7.12M |
| Felix USDT0 | Felix | USD₮0 | $8.31M | 8.25% | 10.0% | $6.29K | -$906.04K |
| Gauntlet USDC | Gauntlet | USDC | $2.23M | 9.89% | 10.0% | $2.02K | +$698.51K |
| OUSD Vault V1 | unattributed | USDC | $1.77M | 10.25% | 5.0% | $788.66 | +$860.24K |
| Felix USDT0 (Frontier) | Felix | USD₮0 | $1.03M | 5.56% | 10.0% | $522.74 | -$798.58K |
| MEV Capital HYPE | MEV Capital | WHYPE | $747.63K | 2.36% | 10.0% | $161.32 | +$209.14K |
| Felix USDH (Frontier) | Felix | USDH | $611.42K | 2.92% | 10.0% | $163.58 | -$9.76M |
| Felix USDe | Felix | USDe | $538.71K | 3.70% | 10.0% | $182.44 | -$288.84K |
Curator Presence on HyperEVM
| Curator | Vaults Here | TVL on Chain | Curator Fees (Ann.) | Weighted Net APY | Global TVL |
|---|---|---|---|---|---|
| Felix | 10 | $84.85M | $713.56K | 7.54% | $84.85M |
| Gauntlet | 6 | $2.67M | $27.35K | 9.19% | $704.46M |
| MEV Capital | 3 | $769.89K | $2.11K | 26.63% | $9.02M |
| Hyperithm | 2 | $63.04K | $7.71 | 0.11% | $3.78M |
| RE7 Labs | 2 | $186.64 | $0.22 | 0.46% | $1.24M |
Loan Asset Mix. What Morpho Lends on HyperEVM
- Stablecoins· top USDC$84.5M72.2%
- Other· top WHYPE$32.5M27.8%
Stablecoins make up 72.2% of Morpho supply on this chain. Top stable: USDC ($62.7M).
Collateral Mix. What Backs Loans on HyperEVM
- Other· top kHYPE$245.4M98.2%
- BTC-pegged· top UBTC$4.2M1.7%
- LRTs / PTs· top PT-kHYPE-13NOV2025$140.5K0.1%
- Stablecoins· top hbUSDT$71.5K0.0%
Stablecoins make up 0.0% of Morpho supply on this chain. Top stable: hbUSDT ($68.5K).
Interest Flow Attribution
Annualized borrow interest paid by borrowers on HyperEVM: $10.02M
71%
21%
- To Lenders · via vaults$7.14M 71%
- To Lenders · direct supply$2.13M 21%
- To Curators$752.65K 8%
- To Morpho DAO (fee switch off)$0 0%
Lender yield = borrow interest − curator fees − protocol fees · vault/direct split by vault supply share (77.0%)
Supply Rates vs Competitors on HyperEVM
Morpho supply APY against the best competing venue, per asset.
No assets with both a Morpho market and a competitor market on this chain
As of 2026-06-09 · loan-book metrics from Morpho market/vault state