$105.8M of Maple's syrupUSDT is also posted as collateral on Aave V3 Ethereum.
$4.5M of Maple's syrupUSDC is also posted as collateral on LlamaLend.
The figure is a floor: debt is neither added nor subtracted, and what is not counted is named above.
How the figures are counted
From the smallest position to the largest, Rails shows each in the same detail. Together, the open positions hold $42,844,625,333.
1,471,642 open and 1,749,317 closed, replayed from chain events in each protocol’s own model of a position.
Held, by explorer
| Explorer | Chain | Share | Block | Prices |
|---|---|---|---|---|
| Aave V3 | Ethereum | 53.0% | 26,352,077–26,358,650 | Aave V3 oracle (getAssetPrice) of each market |
| SparkLend | Ethereum | 17.9% | 26,354,499–26,358,660 | SparkLend oracle (getAssetPrice) |
| Sky Savings | Ethereum | 7.9% | 26,358,590 | Aave V3's oracle |
| Compound V3 | Ethereum | 4.0% | 25,437,385–26,358,572 | Compound V3 Comet price feeds (getPrice) |
| MakerDAO | Ethereum | 3.6% | 26,357,824–26,358,650 | Maker OSM via ilk spot (LSEV2-SKY-A at the LockStake oracle's 0.025 USD cap) |
| Morpho Blue vaults | Base | 3.0% | 53,732,249 | Aave V3's oracle |
| Aave V4 | Ethereum | 2.2% | 25,202,742–26,358,644 | Aave V4 spoke oracle (getAssetPrice) |
| Dolomite | Ethereum | 2.2% | 26,358,407–26,358,587 | Dolomite oracle (getMarketPrice) |
| Aave V3 | Base | 2.1% | 50,476,365–54,060,448 | Aave V3 Base oracle (getAssetPrice) |
| Maple | Ethereum | 2.1% | 26,358,327–26,358,446 | Aave V3's oracle |
| Aave vaults | Ethereum | 0.5% | 26,353,061 | Aave V3 oracle (getAssetPrice) at the census block |
| LlamaLend | Ethereum | 0.5% | 17,283,206–26,358,537 | Aave V3's oracle; crvUSD's Aave price is exempt from the 24-hour limit |
| Liquity V1 | Ethereum | 0.4% | 26,357,212 | Liquity V1 PriceFeed (lastGoodPrice) |
| Compound V2 | Ethereum | 0.2% | 26,358,520–26,358,527 | Compound V2 price oracle (getUnderlyingPrice) and exchangeRateStored |
| Liquity V2 | Ethereum | 0.2% | 26,358,671–26,358,673 | Liquity V2 PriceFeed legs (Chainlink and exchange rates) |
| Compound V3 | Base | <0.1% | 50,563,898–54,060,563 | Compound V3 Comet price feeds (getPrice) |
| Alchemix | Ethereum | <0.1% | 26,358,570–26,358,649 | Aave V3's oracle |
| Moonwell | Base | <0.1% | 50,579,504–54,061,079 | Moonwell oracle (getUnderlyingPrice) and exchangeRateStored |
| Aave V4 | Base | <0.1% | 51,856,412–54,058,227 | Aave V4 spoke oracle (Coinbase tokenised-stock feeds and the capped USDC feed) |
| Alchemix | Base | <0.1% | 54,058,294–54,060,400 | Aave V3's oracle |
| Moonwell | Ethereum | <0.1% | 26,358,613–26,358,625 | Moonwell oracle (getUnderlyingPrice) and exchangeRateStored |
| Seamless | Base | <0.1% | 50,450,129–54,057,244 | Seamless oracle (getAssetPrice) |
| Asymmetry | Ethereum | <0.1% | 26,358,448 | Asymmetry branch PriceFeed (lastGoodPrice or the price a Redemption log states) |
| Basedollar | Base | <0.1% | 53,947,956 | Basedollar branch PriceFeed (the price a Redemption log states) |
| Ebisu | Ethereum | <0.1% | 26,139,958 | Ebisu branch PriceFeed (lastGoodPrice or the price a Redemption log states) |
Not counted
| Explorer | Chain | Reason | ||
|---|---|---|---|---|
| Aave V3 | Arbitrum | Only wallets a visitor opened are stored, and no Arbitrum price table exists. | ||
| Compound V3 | Arbitrum | Only visited wallets are stored and there is no Arbitrum Comet price table. | ||
| Fluid | Ethereum | Fluid states no USD price: its oracles price collateral in the debt token. | ||
| Frankencoin | Ethereum | Frankencoin has no oracle. | ||
| f(x) Protocol | Ethereum | Priced in fxUSD, and no f(x) contract data Rails stores prices fxUSD at 1 USD. | ||
| Morpho Blue | Ethereum | Each market's oracle is stored only at liquidation blocks, so the open positions have no price. | ||
| Morpho Blue | Base | Each market's oracle prices collateral in its loan token, and hundreds of spam markets make a sum by market oracle meaningless. | ||
| Morpho Blue | Arbitrum | Only wallets a visitor opened are stored. | ||
| Polaris | Sepolia | A testnet: its tokens have no market value. | ||
| PWN | Ethereum | Collateral is unpriced: PWN states no price. | ||
| CoW | Ethereum | A trade settles in one transaction, so nothing stays held. | ||
| Yearn V3 | Ethereum | Only vault totals are stored, and the vaults are deployed into other explorers. |
Left out of counted explorers
| Explorer | Chain | Value | What, and why | |
|---|---|---|---|---|
| Aave vaults | Ethereum | $190.7M | 8 assets: a wrapper over Aave V3 (Ethereum) supply, already counted on that explorer | |
| Aave vaults | Ethereum | $140.2M | 3 assets: an Umbrella stake over stata, which is Aave V3 (Ethereum) supply already counted on that explorer | |
| Asymmetry | Ethereum | $14K | 2 assets: a stored price more than 24 hours older than the positions | |
| Basedollar | Base | $42K | 3 assets: a stored price more than 24 hours older than the positions | |
| Ebisu | Ethereum | $15K | stcusd: a stored price more than 24 hours older than the positions | |
| Maple | Ethereum | $309.2M | 2 assets: held by router and infrastructure addresses the position set filters out, or by no listed position | |
| Morpho Blue vaults | Base | $234 | shares held by vaults and other counted contracts: the holder is a vault (or the Alchemix Base MYT) counted there, so the share counts once | |
| Morpho Blue vaults | Base | holders of assets the oracle declines: the Aave V3 Base oracle states no price for the vault asset | ||
| Seamless | Base | $8.0M | 3 assets: a token other than a stablecoin that the oracle holds at a constant 1.00 USD across the stored range | |
| Sky Savings | Ethereum | $26K | Asymmetry's sUSDS pool: the collateral is Asymmetry positions (0x08eaafd8…232d) | |
| Sky Savings | Ethereum | $555.7M | 4 assets: a contract that holds sUSDS for others, which the listing leaves out | |
| Sky Savings | Ethereum | $2.2K | LlamaLend's sUSDS market AMM: the collateral is LlamaLend positions (0x670829e3…bc85) | |
| Sky Savings | Ethereum | $3.3M | SparkLend's sUSDS reserve (spsUSDS): the deposits are SparkLend positions (0x6715bc10…a3d3) | |
| SparkLend | Ethereum | $15.5M | 7 assets: a stored price more than 24 hours older than the positions |
How positions are counted
Positions are the sum of each explorer’s own listing total, counted all-time and refreshed hourly. A position is whatever the protocol’s listing counts: a trove for Liquity and its forks, a vault for MakerDAO, one entry per wallet and market for Aave V3 and Morpho, one per wallet for Spark, Moonwell, Maple and Compound V2. On Arbitrum a position is a wallet that has ever supplied or borrowed on the protocol, read from the chain once a day. Closed includes liquidated, repaid and defaulted. Wallets are counted once across every explorer.