Vaults.fyi Alpha Feed

Nov 10 (2/2)

Taking a look at TVL changes over the last 7 days:

- Spark WETH saw significant TVL net inflows this week.

- On the flip side, >$70M exited from sDAI and ~$40M exited Compound v2 markets.

Nov 10 (1/2)

A look at this week’s news on vaults.fyi:

- Aave vaults across multiple networks were frozen last weekend after a vulnerability was reported to the team. Users may notice unusually high APYs on Aave vaults as a result of this event. No funds were lost.

- In other activity, the 7d avg yield on mainnet Compound v3 USDC rose to ~7% while rates on Aave USDC/USDT also rose to 6-7%.

- Origin OETH, Coinbase cbETH, and Yearn st-yETH show the highest 7d yield among LSTs.

(2/2) Across the large TVL vaults tracked ($50M+ TVL), sDAI on Gnosis delivers the highest 7d avg yield. Notably, USDC and USDT lend rates have increased ~1% APY on Aave v2 and Compound v3, with lend rates now sitting at ~6%.

November 2 (1/2)

Here’s a look at this week’s top vaults on vaults.fyi:

Low TVL stablecoin vaults on Aave v2 have delivered 3 of the top 5 highest yields over the past 7 days. Aave v2 USDP (Pax Dollar) has consistently provided recent high rates to lenders, showing a 30d avg yield of 12.5%.

October 23 (2/2)

Across large vaults ($50M+ TVL), we’ve seen USDT lend rates on Aave v2 and v3 increasing. As we noted recently on our Twitter feed, lending rates across DeFi have been increasing near the sDAI rate of 5.0%. The sDAI contract on mainnet now holds >$1.3B Dai.

In other notes, Spark WETH TVL increased 18% last week (now $82M) and Origin Ether (oETH) TVL increased 23% (now $53M). The Compound v2 WBTC market decreased 8% in size last week.

October 23 (1/2)

Here are vaults with the top 7d avg yields over the past week:

3 of these top 5 vaults are recent additions to vaults.fyi. Yearn’s USDT and LUSD vaults have maximized recent yield spikes on Aave v2. The Silo LLAMA edition crvUSD / CRV pool has grown nearly 2x month over month. Savings xDAI on Gnosis Chain has reached nearly $50M TVL since its launch just three weeks ago.

Oct 3, 2023

We’ve seen big movement in a number of Aave vaults recently, most notably in the USDT markets.

We are currently seeing interest rate spikes on USDT markets:

- Aave v3 USDT (Polygon) currently yields 18.7%
- Aave v3 USDT (Optimism) currently yields 17.1%

We have also seen sustained increases in USDT rates on Aave’s largest markets:

- Aave v2 USDT (mainnet) 7d avg APY is 5.8% (up from ~3% last week)
- Aave v3 USDT (mainnet) 7d avg APY is 4.2% (up from ~2.5% last week)

Below are notable TVL moves we observed:

- Spark WETH lending grew +15% week over week, surpassing >$50M (32k WETH)
- Aave v3 DAI (mainnet) grew +25% in TVL week over week, from $53M to $66M. The 7D average APY is 3.7%.
- Compound v3 USDC (Arbitrum) grew >2x to $8M TVL, as lenders migrated from the USDC.e market. The 7D average APY for Compound v3 USDC (Arbitrum) is 5.6%.

Sep 29, 2023

Amongst vaults <1mm in TVL we’ve seen steep 1D declines in yields for HOP USDC Base pool, Compound v2 TUSD, and HOP ETH Base Pool. There has also been a drastic increase in the Aave V3 Base USDbC.

Now 1.5 months following launch, Base HOP pools seem to be normalizing (ETH and USDC pools). In the case of the HOP USDC Base Pool, yield is now mostly driven by token incentives. Of the total yield there of 5.06% (3.24% is token yield vs. 1.82% base yield)

No real 1D movement on larger vaults.

On the week (25th-29th), we see most exaggerated movement in the same names as above. If you were to look at a 5-day comparison, you’d also see a “-70%” 5D average APY change for Yearn v2 USDC, but that is more a function of how they update APY and less a structural change in the underlying yield being generated.