ETH: Total Value Locked (TVL) per Fee Tier [USD]
Shown as its 2019–2022 sample; the latest readings and full history are included with Pro.
The priced tokens held by Uniswap's pools on Ethereum each day, by version and, on Uniswap v3, by fee tier.
Why use it. Fee tiers show where liquidity providers choose to compete: the 0.05% and 0.01% tiers for stablecoin and major pairs, the 0.3% and 1% tiers for everything riskier. How to read it. Each band is one version or fee tier; the top of the stack is Uniswap's priced value locked. Uniswap v4 pools share one contract, so they are one band.
Calculation. Covered protocols, Ethereum mainnet only. Lending (Aave v2 and v3, Spark, Compound v3, Morpho Blue): what is supplied less what is borrowed, the deposits the protocol still holds, from the lending charts (Lending: Supplied by Protocol and Borrowed by Protocol). Sky's vaults: the collateral locked; their DAI and USDS debt is minted, not taken from depositors, so it is not subtracted. Liquid staking (Lido, Rocket Pool, StakeWise) and EigenLayer's native restaking (EigenPods): each one's estimated active stake, from the staking charts, valued at CryptoKeyhole's ETH/USD close of the day. Counted once: the liquid staking tokens deposited in those lending markets and vaults, less those borrowed, are taken out, because their ether is already counted in staking; that group includes tokens of issuers not covered here (such as Coinbase's cbETH), so the counted-once figure errs slightly low. Decentralised exchanges (Uniswap v2, v3 and v4, SushiSwap v2, Curve, Balancer v1, PancakeSwap): the priced tokens their pools hold (dollar stablecoins at face value, ether and wrapped bitcoin at CryptoKeyhole's daily close), read from our node's storage: each v2-style pair's reserves, each pool's token balances, Uniswap v4's single contract with its ether. A pool's other token has no price here and is not counted, so these lines are a floor: an ether and token pair counts only its ether, and ether a Curve pool holds natively, outside a token, is not read. Yield vaults (the value in the vaults of the Yield Vaults charts) and Pendle (the Pendle chart) are added to the sum of the protocols, but taken out of the counted-once line because their deposits mostly sit in the lending markets and staking already counted. Not counted yet: Fluid, Ekubo, Maverick, Balancer v2 and v3, bridges, tokens deposited in EigenLayer's strategies, and the older Aave v1 and Compound v2, so the total is lower than all of DeFi on Ethereum, by more in 2021 and 2022 when those were large. Daily from 1 December 2020, from CryptoKeyhole's own Ethereum node; the latest day is a partial until it closes.