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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
$100.71K
annualized
Net Interest Margin
68 bps
weighted spread
Utilization
33.3%
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 | $4.13M | $3.21M | 77.7% | 2.28% | 2.95% | $94.55K |
| wstETH / WETH95% LLTV | $101.87K | $91.77K | 90.1% | 1.82% | 2.03% | $1.86K |
| WETH / USDC86% LLTV | $92.55K | $46.42K | 50.2% | 2.25% | 4.54% | $2.11K |
| sUSDC / USDC95% LLTV | $92.38K | $67.67K | 73.3% | 2.27% | 3.11% | $2.11K |
| wstETH / USDC86% LLTV | $1.07K | $1.06K | 98.3% | 7.85% | 8.00% | $84.38 |
| mRe7ETH / WETH95% LLTV | $167.08 | $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 | $4.21M | 4.15% | 10.0% | $789.17 | -$2.2M |
| UltraYield USDC | UltraYield | USDC | $102.01K | 2.33% | 0.0% | $0 | +$122.09 |
| Moonwell Flagship USDC | Block Analitica | USDC | $16.17K | 0.00% | 15.0% | $0 | -$6.43K |
| usdc staging | unattributed | USDC | $10.21 | 7.84% | 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 | $4.21M | $9.6K | 4.15% | $704.12M |
| UltraYield | 1 | $102.01K | $0 | 2.33% | $880.39K |
| 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$102K2.3%
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$5.6M95.4%
- LSTs· top wstETH$110.5K1.9%
- ETH· top WETH$80.4K1.4%
- 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: $100.71K
88%
10%
- To Lenders · via vaults$89K 88%
- To Lenders · direct supply$2.11K 2%
- To Curators$9.6K 10%
- 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