← Chains
Monad
Monad L1
Live since NOV 2025
#1 of 2 lending protocols
Active Loans
$57.87M
30d -51.3%
Borrow Interest
$2.33M
annualized
Net Interest Margin
59 bps
weighted spread
Utilization
38.0%
loans ÷ deposits
Active Loans 30d Δ
-51.3%
vs 30 days ago
TVL
$103.42M
share 34.0%
Lending TVL on Monad. Top 2 Protocols
Top 2 lending protocols on Monad by TVL. 7-day moving average.
Morpho
Euler V2
Top Markets on Monad
| Market | Total Supply | Active Loans | Utilization | Supply APY | Borrow APY | Borrow Interest |
|---|---|---|---|---|---|---|
| wstETH / WETH95% LLTV | $26.83M | $24.11M | 89.9% | 1.54% | 1.72% | $414.62K |
| aHYPER / USDC77% LLTV | $11.26M | $10.21M | 90.7% | 7.66% | 8.48% | $865.78K |
| WBTC / AUSD86% LLTV | $4.69M | $4.25M | 90.6% | 4.68% | 5.18% | $220.13K |
| earnAUSD / USDC92% LLTV | $4.21M | $3.67M | 87.2% | 5.44% | 6.26% | $229.72K |
| mHyperBTC / cbBTC77% LLTV | $3.17M | $2.67M | 84.4% | 1.40% | 1.66% | $44.44K |
| wsrUSD / USD192% LLTV | $3.12M | $2.75M | 88.1% | 1.78% | 2.02% | $55.46K |
| mHYPER / USDC77% LLTV | $2.38M | $2.14M | 89.9% | 5.62% | 6.27% | $134.38K |
| syzUSD / USDC92% LLTV | $2.29M | $1.93M | 84.6% | 5.24% | 6.22% | $120.25K |
| aHyperBTC / cbBTC77% LLTV | $2.04M | $433.63 | 0.0% | 0.00% | 0.03% | $0.11 |
| triBTC / cbBTC86% LLTV | $1.99M | $1.8M | 90.3% | 1.41% | 1.56% | $28.02K |
Top Vaults on Monad
| Name | Curator | Asset | TVL | Net APY | Fee | Curator Fees 30d | 30d Δ TVL |
|---|---|---|---|---|---|---|---|
| Grove x Steakhouse High Yield AUSD | Steakhouse Financial | AUSD | $2.51M | 7.18% | 0.0% | $0 | -$15.38M |
| Steakhouse High Yield AUSD | Steakhouse Financial | AUSD | $12.94K | 10.86% | 10.0% | $9.92 | -$905.95K |
| Steakhouse High Yield USDC | Steakhouse Financial | USDC | $11.81K | 6.22% | 10.0% | $4.16 | +$53.17 |
| Steakhouse Prime ETH | Steakhouse Financial | WETH | $9.6K | 3.89% | 10.0% | $1.22 | -$4.46K |
| Steakhouse High Yield USDT0 | Steakhouse Financial | USDT0 | $2.54K | 2.91% | 10.0% | $0.09 | +$9.65 |
| Steakhouse High Yield USD1 | Steakhouse Financial | USD1 | $689.95 | 0.00% | 10.0% | $0 | +$0.73 |
| Pocky's High Yield AUSD | unattributed | AUSD | $100.41 | 7.19% | 0.0% | $0 | +$0.37 |
| Hyperithm USDC Apex | Hyperithm | USDC | $23.26 | 2.35% | 10.0% | $0 | -$16.69K |
| Unified Labs RWA USDC | unattributed | USDC | $5.75 | 2.38% | 10.0% | $0 | +$0.01 |
| Kedao USDT0 Vault | unattributed | USDT0 | $2.02 | 3.35% | 0.0% | $0 | N/A |
Curator Presence on Monad
| Curator | Vaults Here | TVL on Chain | Curator Fees (Ann.) | Weighted Net APY | Global TVL |
|---|---|---|---|---|---|
| Steakhouse Financial | 10 | $2.55M | $187.36 | 7.18% | $1.05B |
| Hyperithm | 3 | $24.53 | $0 | 2.37% | $3.82M |
| August Digital | 2 | $1.25 | $0 | 4.70% | $677.14K |
Loan Asset Mix. What Morpho Lends on Monad
- Stablecoins· top USDC$33.6M49.7%
- ETH· top WETH$26.8M39.7%
- BTC-pegged· top cbBTC$7.2M10.7%
- Other· top WMON$00.0%
Stablecoins make up 49.7% of Morpho supply on this chain. Top stable: USDC ($23.6M).
Collateral Mix. What Backs Loans on Monad
- LSTs· top wstETH$27M31.8%
- Stablecoins· top vUSD$22.6M26.7%
- Other· top aHYPER$21.5M25.3%
- BTC-pegged· top WBTC$13.5M15.9%
- ETH· top WETH$273K0.3%
Stablecoins make up 26.7% of Morpho supply on this chain. Top stable: vUSD ($14.4M).
Interest Flow Attribution
Annualized borrow interest paid by borrowers on Monad: $2.33M
96%
- To Lenders · via vaults$87.96K 4%
- To Lenders · direct supply$2.24M 96%
- To Curators$187.36 0%
- To Morpho DAO (fee switch off)$0 0%
Lender yield = borrow interest − curator fees − protocol fees · vault/direct split by vault supply share (3.8%)
Supply Rates vs Competitors on Monad
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