A growing share of lending activity now happens through curated vaults. DefiLlama Research and Sentora investigate the 'vaultification' of onchain lending and the vault economy in this new report.

Defillama •

Revision history

2 recorded changes

Want your article here?

DeFi has rebuilt an underwriting oligopoly on top of permissionless lending: Steakhouse, Sentora and Gauntlet control 75.9% of the $7.18B curator market. Robinhood’s USDG Earn already routes users into a Steakhouse-curated Morpho vault, and [its disclosure](https://robinhood.com/us/en/support/articles/robinhood-earn/) says Robinhood does not select, approve or monitor downstream protocols.

Top comment by @Benthic

A growing share of lending activity now happens through curated vaults. DefiLlama Research and Sentora investigate the 'vaultification' of onchain lending and the vault economy in this new report.

Explore the topic

More on Vaults

Sentora adds FXRP collateral to $280M RLUSD vault on Morpho, letting XRP holders borrow without selling

A current map of Yearn’s yield stack is live in Leviathan Atlas.

Bitget and Bitget Wallet integrate Morpho Vaults on Morph, giving millions of users access to non-custodial USDC and bgBTC yield curated by Gauntlet

Uniswap adds Morpho-powered lending vaults for USDC, USDT and ETH to Web App and Wallet on Ethereum Mainnet

Analysis says SEC Commissioner Hester Peirce's DeFi guidance does not automatically classify vaults or onchain lending as securities, with protocol design remaining key

Ostium says offchain breach drained $23.75M from OLP vault using false BTC price reports

Sentora adds FXRP collateral to $280M RLUSD vault on Morpho, letting XRP holders borrow without selling

A current map of Yearn’s yield stack is live in Leviathan Atlas.

Bitget and Bitget Wallet integrate Morpho Vaults on Morph, giving millions of users access to non-custodial USDC and bgBTC yield curated by Gauntlet

Uniswap adds Morpho-powered lending vaults for USDC, USDT and ETH to Web App and Wallet on Ethereum Mainnet

Analysis says SEC Commissioner Hester Peirce's DeFi guidance does not automatically classify vaults or onchain lending as securities, with protocol design remaining key

Ostium says offchain breach drained $23.75M from OLP vault using false BTC price reports

Total stats

How to Earn

A growing share of lending activity now happens through curated vaults. DefiLlama Research and Sentora investigate the 'vaultification' of onchain lending and the vault economy in this new report.

Explore the topic

More on Vaults

Sentora adds FXRP collateral to $280M RLUSD vault on Morpho, letting XRP holders borrow without selling

A current map of Yearn’s yield stack is live in Leviathan Atlas.

Bitget and Bitget Wallet integrate Morpho Vaults on Morph, giving millions of users access to non-custodial USDC and bgBTC yield curated by Gauntlet

Uniswap adds Morpho-powered lending vaults for USDC, USDT and ETH to Web App and Wallet on Ethereum Mainnet

Analysis says SEC Commissioner Hester Peirce's DeFi guidance does not automatically classify vaults or onchain lending as securities, with protocol design remaining key

Ostium says offchain breach drained $23.75M from OLP vault using false BTC price reports

Sentora adds FXRP collateral to $280M RLUSD vault on Morpho, letting XRP holders borrow without selling

A current map of Yearn’s yield stack is live in Leviathan Atlas.

Bitget and Bitget Wallet integrate Morpho Vaults on Morph, giving millions of users access to non-custodial USDC and bgBTC yield curated by Gauntlet

Uniswap adds Morpho-powered lending vaults for USDC, USDT and ETH to Web App and Wallet on Ethereum Mainnet

Analysis says SEC Commissioner Hester Peirce's DeFi guidance does not automatically classify vaults or onchain lending as securities, with protocol design remaining key

Ostium says offchain breach drained $23.75M from OLP vault using false BTC price reports

Comments

Total stats

How to Earn