CryptoBriefing and Coinfomania both report $18.3M in SPYx deposits across DeFi, but they disagree sharply on how much of that sits on Morpho and which venue leads.
What all sources agree on
- SPYx has accumulated $18.3 million in deposits across multiple DeFi venues.
- Kamino Finance is named as a venue holding SPYx deposits.
- The product represents growing interest in tokenized assets within DeFi.
Where the reports disagree
1Morpho's share of SPYx deposits
SPYx collateral deposited on Morpho reached approximately $7.9 million, making the lending protocol one of the primary destinations for users who want to put their tokenized equity to work rather than simply hold it.
Smaller amounts are also recorded across Orca, Morpho, Meteora, and Uniswap.
What would settle it: On-chain deposit data for the Morpho SPYx market.
2Which venue leads SPYx deposits
The $18.3 million total is distributed across multiple venues, with Morpho emerging as a notable concentration point.
The SPYx product has achieved impressive deposits, with Fluid / Jupiter leading at $12.5 million, followed by Kamino with $4.1 million and Raydium at $1.4 million.
What would settle it: A consolidated on-chain breakdown of SPYx deposits by protocol, e.g. from Token Terminal or the venues' own dashboards.
What to make of it
Treat the $18.3M total deposit figure as established, but the venue-by-venue breakdown — especially Morpho's role — is unresolved between these reports and shouldn't be cited as precise until a shared on-chain data source is checked.
Treat the $18.3M total deposit figure as established, but the venue-by-venue breakdown — especially Morpho's role — is unresolved between these reports and shouldn't be cited as precise until a shared on-chain data source is checked.