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Polygon
Polygon PoS
Live since FEB 2025
#3 of 5 lending protocols
Active Loans
$1.56M
30d -13.5%
Borrow Interest
$68.82K
annualized
Net Interest Margin
296 bps
weighted spread
Utilization
19.7%
loans ÷ deposits
Active Loans 30d Δ
-13.5%
vs 30 days ago
TVL
$6.56M
share 4.5%
Lending TVL on Polygon. Top 5 Protocols
Top 5 lending protocols on Polygon by TVL. 7-day moving average.
Aave V3
Aave V2
Morpho
Compound V3
Fluid Lending
Top Markets on Polygon
| Market | Total Supply | Active Loans | Utilization | Supply APY | Borrow APY | Borrow Interest |
|---|---|---|---|---|---|---|
| WBTC / USDC86% LLTV | $1.2M | $1.07M | 89.2% | 2.54% | 2.85% | $30.51K |
| MaticX / USDT077% LLTV | $187.72K | $166.02K | 88.4% | 5.77% | 6.55% | $10.88K |
| WETH / USDC86% LLTV | $147.89K | $134.71K | 91.1% | 12.19% | 13.46% | $18.14K |
| WETH / JPYC86% LLTV | $41.36K | $35.47K | 85.8% | 0.73% | 0.85% | $302.41 |
| WBTC / USDT086% LLTV | $40.54K | $35.02K | 86.4% | 5.36% | 6.23% | $2.18K |
| WPOL / USDT077% LLTV | $40.01K | $36.83K | 92.0% | 1.96% | 2.13% | $785.46 |
| WBTC / JPYC86% LLTV | $29.42K | $25.51K | 86.7% | 0.73% | 0.85% | $216.33 |
| MaticX / WPOL92% LLTV | $19.9K | $17.29K | 86.9% | 20.00% | 23.35% | $4.04K |
| wstETH / WETH92% LLTV | $10.74K | $9.59K | 89.3% | 1.78% | 1.99% | $191.37 |
| WPOL / USDC77% LLTV | $10.01K | $9.09K | 90.9% | 11.92% | 13.20% | $1.2K |
Top Vaults on Polygon
| Name | Curator | Asset | TVL | Net APY | Fee | Curator Fees 30d | 30d Δ TVL |
|---|---|---|---|---|---|---|---|
| Compound POL | Gauntlet | WPOL | $2.68M | 0.12% | 10.0% | $29.65 | -$1.17M |
| Compound USDC | Gauntlet | USDC | $1.26M | 2.59% | 10.0% | $297.05 | -$309.73K |
| Steakhouse High Yield USDT0 | Steakhouse Financial | USDT0 | $209.65K | 5.73% | 0.0% | $0 | -$23.22K |
| Compound USDT | Gauntlet | USDT0 | $202.58K | 0.83% | 10.0% | $15.29 | -$18.51K |
| Compound WETH | Gauntlet | WETH | $194.69K | 0.09% | 10.0% | $1.55 | -$139.99K |
| Steakhouse High Yield USDC | Steakhouse Financial | USDC | $72.97K | 12.17% | 0.0% | $0 | +$34.83K |
| Re7 wPOL | unattributed | WPOL | $10.24K | 47275.03% | 10.0% | N/A | -$92.51K |
| Gondor Growth v1.e | unattributed | USDC | $527.34 | 0.01% | 0.0% | $0 | -$0.05 |
| Brazilian Power House | unattributed | BRLA | $299.74 | 0.24% | 0.0% | $0 | N/A |
| Gondor Moderate v1.e | unattributed | USDC | $248.04 | 0.00% | 0.0% | $0 | -$0.03 |
Curator Presence on Polygon
| Curator | Vaults Here | TVL on Chain | Curator Fees (Ann.) | Weighted Net APY | Global TVL |
|---|---|---|---|---|---|
| Gauntlet | 4 | $4.34M | $4.18K | 0.87% | $704.12M |
| Steakhouse Financial | 12 | $282.64K | $0.04 | 7.39% | $1.05B |
| MEV Capital | 1 | $8.75 | $0 | 0.00% | $9.01M |
| Clearstar | 3 | $2.88 | $0.02 | 5.34% | $13.85M |
| Unified Labs | 1 | $0.01 | $0 | 0.01% | $0.01 |
Loan Asset Mix. What Morpho Lends on Polygon
- Other· top WPOL$2.8M58.2%
- Stablecoins· top USDC$1.8M37.7%
- ETH· top WETH$194.7K4.1%
Stablecoins make up 37.7% of Morpho supply on this chain. Top stable: USDC ($1.4M).
Collateral Mix. What Backs Loans on Polygon
- BTC-pegged· top WBTC$2.1M65.3%
- Other· top MaticX$753.7K23.7%
- ETH· top WETH$332.7K10.5%
- LSTs· top wstETH$10.9K0.3%
- Stablecoins· top USDC$7.8K0.2%
Stablecoins make up 0.2% of Morpho supply on this chain. Top stable: USDC ($7.8K).
Interest Flow Attribution
Annualized borrow interest paid by borrowers on Polygon: $68.82K
92%
- To Lenders · via vaults$63.05K 92%
- To Lenders · direct supply$1.59K 2%
- To Curators$4.18K 6%
- To Morpho DAO (fee switch off)$0 0%
Lender yield = borrow interest − curator fees − protocol fees · vault/direct split by vault supply share (97.5%)
Supply Rates vs Competitors on Polygon
Morpho supply APY against the best competing venue, per asset.
USDC+34 bps
Morpho 3.62%
Aave V3 3.27%
WETH-20 bps
Morpho 0.10%
Aave V3 0.30%
As of 2026-06-09 · loan-book metrics from Morpho market/vault state