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DeFi20 Lending
PublicLending Protocol Comparison — All Versions
Side-by-side comparison of the five major lending protocols across TVL, lending deposits, active loans, fees, revenue, and holder revenue. Each chart aggregates all sub-versions (e.g. Aave v1/v2/v3/v4, Morpho Blue + Optimizers, Sky Lending/Money/RWA, Kamino Lend + Liquidity, Euler v1/v2). Note: Sky does not track active loans (borrowed); Morpho and Kamino do not track holder revenue — those protocols will not appear in the respective charts. The Lending Deposits chart uses each protocol's TVL metric (DefiLlama's convention for gross supplied assets in lending markets). TVL, Lending Deposits, and Active Loans charts are shown as bar charts and support customizable time frames (daily/weekly/monthly/quarterly grouping) plus a cumulative-totals toggle via the controls on each chart.
Token Supply & Unlock Overview
| Protocol | Circulating Supply* | Total Supply | % In Circulation* | Final Unlock Date* |
|---|---|---|---|---|
| Aave (AAVE) | 13.00M | 16.00M | 81.3% | 2019-06-09 |
| Euler (EUL) | 27.18M | 27.18M | 100.0% | 2026-01-01 |
| Kamino (KMNO) | 7.71B | 10.00B | 77.1% | 2027-04-30 |
| Morpho (MORPHO) | 593.34M | 1.00B | 59.3% | 2031-01-02 |
| Sky (SKY) | n/a (no schedule tracked) | 23.46B | n/a | n/a |
*Circulating supply, % in circulation, and final unlock date are derived from DefiLlama's tracked unlock/vesting schedule (tokens unlocked-to-date vs. the last scheduled unlock event), not a CoinGecko-reported circulating supply. For Aave, scheduled events reconcile to only ~81% of total supply (older/undocumented allocations sit outside the tracked schedule), so the figure is a lower bound. Sky has no active unlock schedule tracked in this dataset.
Token Unlock Schedules
Individual token unlock/vesting timelines for each protocol's native token, where tracked.
Income Statements
Detailed P&L financials for each protocol — fees, revenue, incentive spend, and net earnings.