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OP Mainnet
OP Stack L2
Live since FEB 2025
#3 of 5 lending protocols
Active Loans
$3.42M
30d -44.9%
Borrow Interest
$101.23K
annualized
Net Interest Margin
69 bps
weighted spread
Utilization
33.4%
loans ÷ deposits
Active Loans 30d Δ
-44.9%
vs 30 days ago
TVL
$7.09M
share 3.3%
Lending TVL on OP Mainnet. Top 5 Protocols
Top 5 lending protocols on OP Mainnet by TVL. 7-day moving average.
EtherFi Borrowing Market
Aave V3
Compound V3
Morpho
Moonwell
Top Markets on OP Mainnet
| Market | Total Supply | Active Loans | Utilization | Supply APY | Borrow APY | Borrow Interest |
|---|---|---|---|---|---|---|
| WBTC / USDC86% LLTV | $4.17M | $3.21M | 77.0% | 2.25% | 2.94% | $94.28K |
| wstETH / WETH95% LLTV | $101.37K | $91.32K | 90.1% | 1.82% | 2.02% | $1.85K |
| sUSDC / USDC95% LLTV | $95.42K | $67.67K | 70.9% | 2.17% | 3.07% | $2.08K |
| WETH / USDC86% LLTV | $58.2K | $46.42K | 79.8% | 5.03% | 6.35% | $2.95K |
| wstETH / USDC86% LLTV | $1.07K | $1.06K | 98.3% | 7.53% | 7.66% | $80.89 |
| mRe7ETH / WETH95% LLTV | $166.26 | $0 | 0.0% | 0.00% | 0.03% | $0 |
Top Vaults on OP Mainnet
| Name | Curator | Asset | TVL | Net APY | Fee | Curator Fees 30d | 30d Δ TVL |
|---|---|---|---|---|---|---|---|
| Gauntlet USDC Prime | Gauntlet | USDC | $4.22M | 4.14% | 10.0% | $790.1 | -$2.19M |
| UltraYield USDC | UltraYield | USDC | $102.01K | 2.70% | 0.0% | $0 | +$124.75 |
| Moonwell Flagship USDC | Block Analitica | USDC | $16.17K | 0.00% | 15.0% | $0 | -$6.43K |
| usdc staging | unattributed | USDC | $10.21 | 7.62% | 0.0% | $0 | +$0.05 |
Curator Presence on OP Mainnet
| Curator | Vaults Here | TVL on Chain | Curator Fees (Ann.) | Weighted Net APY | Global TVL |
|---|---|---|---|---|---|
| Gauntlet | 1 | $4.22M | $9.61K | 4.14% | $704.46M |
| UltraYield | 1 | $102.01K | $0 | 2.70% | $870.51K |
| Block Analitica | 1 | $16.17K | $0 | 0.00% | $16.17K |
Loan Asset Mix. What Morpho Lends on OP Mainnet
- Stablecoins· top USDC$4.3M97.7%
- ETH· top WETH$101.5K2.3%
Stablecoins make up 97.7% of Morpho supply on this chain. Top stable: USDC ($4.3M).
Collateral Mix. What Backs Loans on OP Mainnet
- BTC-pegged· top WBTC$5.5M95.4%
- LSTs· top wstETH$109.7K1.9%
- ETH· top WETH$80K1.4%
- Stablecoins· top sUSDC$75K1.3%
Stablecoins make up 1.3% of Morpho supply on this chain. Top stable: sUSDC ($75K).
Interest Flow Attribution
Annualized borrow interest paid by borrowers on OP Mainnet: $101.23K
88%
9%
- To Lenders · via vaults$89.52K 88%
- To Lenders · direct supply$2.1K 2%
- To Curators$9.61K 9%
- To Morpho DAO (fee switch off)$0 0%
Lender yield = borrow interest − curator fees − protocol fees · vault/direct split by vault supply share (97.7%)
Supply Rates vs Competitors on OP Mainnet
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