SKY: Protocol Fees and Revenue [USD]
SKY Governance Token Sky Vault Stability Fees: daily data through 8 Nov 2026.
The stability fees Sky's collateral vaults on Ethereum charge their borrowers each period: the interest on the DAI and USDS minted against ETH, wrapped bitcoin, staked ether and the other vault collateral.
Why use it. Stability fees are the oldest part of Sky's income and move with how much its vault users borrow and the rates Sky governance sets. How to read it. The line is the interest charged. It is not Sky's whole income: its reserve investments and allocators earn more, and it pays most of its income out through the Sky and Dai savings rates; neither is counted here.
Calculation. Lending (Aave, Spark, Compound v3, Morpho, Sky): each hour's interest accrues on the market state at the end of the hour before, at that state's rates, as each protocol accrues it: borrowers pay debt x ((1 + borrow APY)^(1 hour / 1 year) - 1); lenders on Aave, Spark and Compound earn supplied x the per-second supply rate x 3,600; on Morpho Blue lenders earn the borrowers' interest less the market's fee; Sky's vaults have no lenders, so their stability fees are all revenue. Every reserve and market of these protocols counts, read on CryptoKeyhole's own Ethereum archive node each hour; dollar stablecoins count one dollar, ether and wrapped bitcoin at CryptoKeyhole's hourly prices, other tokens at the protocol's own oracle price that hour; Morpho Blue markets with bad debt and tokens without a price are left out. Interest only: flash-loan and liquidation fees and reward tokens are not included. History begins on 19 October 2026, 15:00 UTC, the first hour after every market's size has been kept. Only the stability fees of Sky's collateral vaults are counted; the income from its reserve investments and allocators, and what it pays out through the Sky and Dai savings rates, are not part of these figures. Ethereum mainnet deployments only: each protocol's other networks are not counted, so these are lower than the protocols' worldwide totals. Hourly values: each completed UTC hour once its blocks are final on our node, so the latest hour shown ended one to two hours earlier; a day is the sum of its 24 hours, and the open day is a partial through the latest hour.