Overview Protocols Rates Revenue Collateral Risk Compare ReportsNEW

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Revenue & Protocol Economics

What each protocol earned, where it went, and how it compares.

Sector fees 30d

$74.41M+60% MoM

vs $46.47M prior 30d

Sector capture rate

16.1%

Depositors keep 84% · protocol+holders keep the rest

Biggest gainer

Spark+72% MoM

$4.35M this 30d · $2.53M prior

Sector earned $74.4M over the past 30 days, +60% MoM. Depositors captured 84% of fees; protocol/holders kept 16%. Spark led growth at +72% MoM.

Aave V3

$58.95M30d fees+65% MoM

Rev/TVL 6.43%Cum. $1.39B

Spark

$4.35M30d fees+72% MoM

Rev/TVL 1.59%Cum. $163.04M

Morpho

$9.05M30d fees+39% MoM

Rev/TVL 2.90%Cum. $179.46M

Pass-through design: Morpho routes all fees to depositors and curators. Protocol-level capture is 0% by design.

Fluid

$2.12M30d fees+15% MoM

Rev/TVL 4.97%Cum. $75.04M

Revenue Source Split · 90dBar width = gross fees · split = interest (residual) vs liquidation (est.)

Aave V3

$132.96M4% liq

Morpho

$20.53M1% liq

Spark

$10.45M0% liq

Fluid

$5.64M1% liq

Interest + other (residual)

Liquidation-driven (est.)

Take Rate · Rev/TVL annualized · 12 months

Aave V3 · 5.63%

Fluid · 5.02%

Morpho · 2.89%

Spark · 1.38%

Fees by Protocol

Aave V3

Spark

Morpho

Fluid

Cumulative Fees by Protocol

Aave V3

Spark

Morpho

Fluid

Revenue by Recipient · per protocol

Aave V3 · Revenue· Supply-side / Protocol / Holders

Supply-side (depositors)

Protocol treasury

Token holders

Aave V3

$132.96Mgross fees, 90d

By recipient

Capture rate18.3%

Est. source split

Liquidation share3.5% est.

Spark

$10.45Mgross fees, 90d

By recipient

Capture rate15.2%

Est. source split

Liquidation share0.0% est.

Morpho

$20.53Mgross fees, 90d

By recipient

Capture rate0.0%

Est. source split

Liquidation share0.5% est.

Fluid

$5.64Mgross fees, 90d

By recipient

Capture rate25.7%

Est. source split

Liquidation share1.2% est.

Liquidation Volume by Protocol

Aave V3

Spark

Morpho

Fluid

MethodologyRevenue by recipient is the authoritative DefiLlama split (supply-side / protocol treasury / holders). Liquidation-source split estimates each protocol's liquidation-driven fees as liquidation debt-volume × weighted liquidation bonus (Aave V3 / Spark / Morpho Blue: 8%; Fluid: 5%). Residual fees = interest + other. Bonus-rate assumptions are averages; true per-reserve values vary 5-15%.

Cite this page

Datum Labs. (2026). Lending Intelligence Terminal: Revenue & Protocol Economics. Retrieved May 8, 2026 from https://lending-intelligence-terminal.vercel.app/revenue.

As of just now · DefiLlama /summary/fees + Liquidator Economy DB · live load