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HyperEVM
Hyperliquid L1
Live since MAY 2025
#2 of 3 lending protocols
Active Loans
$105.38M
30d -2.0%
Borrow Interest
$9.86M
annualized
Net Interest Margin
90 bps
weighted spread
Utilization
28.9%
loans ÷ deposits
Active Loans 30d Δ
-2.0%
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 | $37.25M | $34.16M | 91.7% | 11.26% | 12.34% | $4.21M |
| kHYPE / WHYPE86% LLTV | $29.93M | $28.49M | 95.2% | 6.00% | 6.31% | $1.8M |
| kHYPE / USDC63% LLTV | $16.4M | $15.03M | 91.6% | 8.74% | 9.58% | $1.44M |
| AVLT / USD₮092% LLTV | $7.72M | $6.71M | 86.9% | 8.67% | 10.04% | $673.82K |
| kHYPE / USD₮063% LLTV | $6.28M | $5.41M | 86.2% | 5.93% | 6.91% | $374.22K |
| kHYPE / USDC77% LLTV | $4.65M | $4.17M | 89.9% | 6.82% | 7.62% | $318.23K |
| WHYPE / USD₮063% LLTV | $4.05M | $3.53M | 87.0% | 6.00% | 6.93% | $244.21K |
| WHYPE / USDC63% LLTV | $1.9M | $1.74M | 91.3% | 8.86% | 9.74% | $169.35K |
| UBTC / USD₮077% LLTV | $983.27K | $873.14K | 88.8% | 6.09% | 6.89% | $60.15K |
| lstHYPE / WHYPE92% LLTV | $732.88K | $731.24K | 99.8% | 16.76% | 16.80% | $122.86K |
Top Vaults on HyperEVM
| Name | Curator | Asset | TVL | Net APY | Fee | Curator Fees 30d | 30d Δ TVL |
|---|---|---|---|---|---|---|---|
| Felix USDC (Frontier) | Felix | USDC | $34.08M | 9.40% | 10.0% | $29.4K | +$12.65M |
| Felix HYPE | Felix | WHYPE | $28.13M | 5.43% | 10.0% | $14K | -$22.15M |
| Felix USDC | Felix | USDC | $10.39M | 7.82% | 10.0% | $7.46K | -$7.62M |
| Felix USDT0 | Felix | USD₮0 | $8.34M | 5.33% | 10.0% | $4.07K | -$877.5K |
| Gauntlet USDC | Gauntlet | USDC | $2.1M | 7.85% | 10.0% | $1.51K | +$572.49K |
| OUSD Vault V1 | unattributed | USDC | $1.77M | 8.64% | 5.0% | $664.79 | +$860.41K |
| Felix USDT0 (Frontier) | Felix | USD₮0 | $1.04M | 5.43% | 10.0% | $517.01 | -$785.96K |
| MEV Capital HYPE | MEV Capital | WHYPE | $743.48K | 10.13% | 10.0% | $691.68 | +$205K |
| Felix USDH (Frontier) | Felix | USDH | $611.13K | 15.14% | 10.0% | $851.86 | -$9.76M |
| Felix USDe | Felix | USDe | $540.92K | 3.66% | 10.0% | $181.22 | -$286.63K |
Curator Presence on HyperEVM
| Curator | Vaults Here | TVL on Chain | Curator Fees (Ann.) | Weighted Net APY | Global TVL |
|---|---|---|---|---|---|
| Felix | 10 | $83.74M | $692.26K | 7.41% | $83.74M |
| Gauntlet | 6 | $2.54M | $20.29K | 7.16% | $704.12M |
| MEV Capital | 3 | $765.85K | $8.88K | 36.78% | $9.01M |
| Hyperithm | 2 | $63K | $7.73 | 0.11% | $3.82M |
| RE7 Labs | 2 | $185.93 | $0.21 | 0.46% | $1.24M |
Loan Asset Mix. What Morpho Lends on HyperEVM
- Stablecoins· top USDC$83.9M72.3%
- Other· top WHYPE$32.2M27.7%
Stablecoins make up 72.3% of Morpho supply on this chain. Top stable: USDC ($61.7M).
Collateral Mix. What Backs Loans on HyperEVM
- Other· top kHYPE$243.7M98.2%
- BTC-pegged· top UBTC$4.3M1.7%
- LRTs / PTs· top PT-kHYPE-13NOV2025$139K0.1%
- Stablecoins· top hbUSDT$71.2K0.0%
Stablecoins make up 0.0% of Morpho supply on this chain. Top stable: hbUSDT ($68.2K).
Interest Flow Attribution
Annualized borrow interest paid by borrowers on HyperEVM: $9.86M
71%
22%
- To Lenders · via vaults$6.99M 71%
- To Lenders · direct supply$2.14M 22%
- To Curators$729.55K 7%
- To Morpho DAO (fee switch off)$0 0%
Lender yield = borrow interest − curator fees − protocol fees · vault/direct split by vault supply share (76.6%)
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