> ## Content Index
> Fetch the complete content index at: https://blog.vaults.fyi/llms.txt
> Use this file to discover other available public pages before exploring further.

# Onchain Insights (August 3, 2026)
- URL: https://blog.vaults.fyi/onchain-insights-august-3-2026/
- Published: 2026-08-03T22:20:01.000Z
- Updated: 2026-08-06T17:35:52.000Z
- Description: Stablecoin yields were roughly flat over the last 30 days. Observed USD vault TVL declined -2.0% during the period.
- Author: vaults.fyi
- Tags: Research, Onchain Yield

Data as of August 3, 2026\. All data sourced from [vaults.fyi API](https://docs.vaults.fyi/?ref=blog.vaults.fyi). 

## Summary

The USD benchmark rate was roughly flat over the last 30 days, currently at 3.53% 7d avg APY versus 3.61% 30d ago. Observed USD vault TVL declined >$500M (-2.0%) over the last 30 days.

## Key Takeaways

- USD benchmark 7d avg APY declined, ending at 3.53% versus 3.61% 30 days earlier.
- ETH benchmark 7d avg APY declined, ending at 2.15% versus 2.18% 30 days earlier.
- Across observed USD vaults with 30d history, TVL declined $529.5M (2.00%) over the period.
- Aave v3 USDT had the largest observed 30d TVL increase at $361.5M (13.66%). Savings USDS had the largest decline at -$1.01B (-18.82%).

## Benchmarks

The USD and ETH benchmarks are vaults.fyi reference rates for onchain yield, shown as 7d average APY. Methodology: [benchmark rates](https://docs.vaults.fyi/methodology/benchmark-rates.md?ref=blog.vaults.fyi).

![USD onchain yield benchmark](https://storage.ghost.io/c/80/1e/801e59ba-aea3-41d2-aff6-47dda0ee853e/content/images/2026/08/usd_benchmark_180d.png)

![ETH onchain yield benchmark](https://storage.ghost.io/c/80/1e/801e59ba-aea3-41d2-aff6-47dda0ee853e/content/images/2026/08/eth_benchmark_180d.png)

## USD Stablecoin Yield Map

![Highest observed stablecoin vault yields](https://storage.ghost.io/c/80/1e/801e59ba-aea3-41d2-aff6-47dda0ee853e/content/images/2026/08/stablecoin_yield_leaders.png)

## USD Vault Net Flows

![30d TVL change by vault](https://storage.ghost.io/c/80/1e/801e59ba-aea3-41d2-aff6-47dda0ee853e/content/images/2026/08/stablecoin_tvl_change_by_vault.png)

Aave v3 USDT had the largest observed 30d TVL increase at $361.5M (13.66%). Savings USDS had the largest decline at -$1.01B (-18.82%).

Note: Morpho v1 to v2 migrations may affect observed vault flows.

### Material Vault Flows

Larger 30d TVL moves that were also meaningful relative to starting vault size:

| Vault                                                                                                                                        | Network   | Protocol | July 4 TVL | Aug. 3 TVL | 30d TVL change | Change   |
| -------------------------------------------------------------------------------------------------------------------------------------------- | --------- | -------- | ---------- | ---------- | -------------- | -------- |
| [Savings USDS](https://app.vaults.fyi/opportunity/mainnet/0xa3931d71877C0E7a3148CB7Eb4463524FEc27fbD?ref=blog.vaults.fyi)                    | Ethereum  | Sky      | $5.34B     | $4.34B     | \-$1.01B       | \-18.82% |
| [Spark Savings USDT](https://app.vaults.fyi/opportunity/mainnet/0xe2e7a17dFf93280dec073C995595155283e3C372?ref=blog.vaults.fyi)              | Ethereum  | Spark    | $859.4M    | $399.8M    | \-$459.6M      | \-53.48% |
| [Aave v3 USDT](https://app.vaults.fyi/opportunity/mainnet/0x23878914EFE38d27C4D67Ab83ed1b93A74D4086a?ref=blog.vaults.fyi)                    | Ethereum  | Aave     | $2.65B     | $3.01B     | $361.5M        | 13.66%   |
| [Aave v3 USDe](https://app.vaults.fyi/opportunity/mainnet/0x4F5923Fc5FD4a93352581b38B7cD26943012DECF?ref=blog.vaults.fyi)                    | Ethereum  | Aave     | $468.8M    | $784.0M    | $315.3M        | 67.26%   |
| [Syrup USDC](https://app.vaults.fyi/opportunity/mainnet/0x80ac24aA929eaF5013f6436cdA2a7ba190f5Cc0b?ref=blog.vaults.fyi)                      | Ethereum  | Syrup    | $1.34B     | $1.07B     | \-$268.4M      | \-20.09% |
| [Steakhouse Prime Instant](https://app.vaults.fyi/opportunity/base/0xbeef0e0834849aCC03f0089F01f4F1Eeb06873C9?ref=blog.vaults.fyi)           | Base      | Morpho   | $330.1M    | $579.9M    | $249.7M        | 75.65%   |
| [Steakhouse USDG](https://app.vaults.fyi/opportunity/robinhood/0xBeEff033F34C046626B8D0A041844C5d1A5409dd?ref=blog.vaults.fyi)               | Robinhood | Morpho   | $14.3M     | $250.4M    | $236.1M        | 1653.44% |
| [Savings USDS](https://app.vaults.fyi/opportunity/base/0x1601843c5E9bC251A3272907010AFa41Fa18347E?ref=blog.vaults.fyi)                       | Base      | Sky      | $223.4M    | $12.0M     | \-$211.4M      | \-94.64% |
| [Steakhouse Prime USDC](https://app.vaults.fyi/opportunity/base/0xBEEFE94c8aD530842bfE7d8B397938fFc1cb83b2?ref=blog.vaults.fyi)              | Base      | Morpho   | $228.1M    | $30.8M     | \-$197.3M      | \-86.51% |
| [Spark USDT](https://app.vaults.fyi/opportunity/mainnet/0xe7dF13b8e3d6740fe17CBE928C7334243d86c92f?ref=blog.vaults.fyi)                      | Ethereum  | Spark    | $571.6M    | $407.1M    | \-$164.5M      | \-28.78% |
| [Steakhouse High Yield USDC Edition](https://app.vaults.fyi/opportunity/base/0xbeeff2490FEffa212faC2f6553682C219E6a8845?ref=blog.vaults.fyi) | Base      | Morpho   | $110.3M    | $271.0M    | $160.6M        | 145.58%  |
| [Aave Monad USDT0](https://app.vaults.fyi/opportunity/monad/0x9531E6bC99D7F7f0596ed7bA5b846Ba9Eb60468c?ref=blog.vaults.fyi)                  | Monad     | Aave     | $22.5M     | $120.0M    | $97.5M         | 432.33%  |
| [Aave Monad USDC](https://app.vaults.fyi/opportunity/monad/0x35a73BAcb179d3740395A3ceCc87FF2e581d6042?ref=blog.vaults.fyi)                   | Monad     | Aave     | $12.2M     | $106.6M    | $94.4M         | 775.64%  |
| [Grove x Steakhouse USDC High Yield](https://app.vaults.fyi/opportunity/base/0xBeEf2d50B428675a1921bC6bBF4bfb9D8cF1461A?ref=blog.vaults.fyi) | Base      | Morpho   | $6.0M      | $75.0M     | $69.0M         | 1144.02% |
| [Sentora PRIME Main](https://app.vaults.fyi/opportunity/mainnet/0xC21b08C16458202593D4D9B26b9984Ee67b38BbD?ref=blog.vaults.fyi)              | Ethereum  | Morpho   | $108.9M    | $161.6M    | $52.7M         | 48.39%   |
| [USDC Savings Vault](https://app.vaults.fyi/opportunity/mainnet/0xBc65ad17c5C0a2A4D159fa5a503f4992c7B545FE?ref=blog.vaults.fyi)              | Ethereum  | Spark    | $141.8M    | $192.0M    | $50.1M         | 35.34%   |
| [Steakhouse USDC](https://app.vaults.fyi/opportunity/base/0xbeeF010f9cb27031ad51e3333f9aF9C6B1228183?ref=blog.vaults.fyi)                    | Base      | Morpho   | $219.6M    | $172.4M    | \-$47.2M       | \-21.48% |
| [USDC Savings Vault](https://app.vaults.fyi/opportunity/arbitrum/0x940098b108fB7D0a7E374f6eDED7760787464609?ref=blog.vaults.fyi)             | Arbitrum  | Spark    | $135.4M    | $177.7M    | $42.3M         | 31.21%   |

## USD Stablecoin Yield By Vault Size

| Segment           | TVL     | Vaults | 7d total APY | 7d base APY | 7d reward APY | Definition                           |
| ----------------- | ------- | ------ | ------------ | ----------- | ------------- | ------------------------------------ |
| \>$1B TVL         | $12.38B | 5      | 3.53%        | 3.53%       | \--           | Large balance-sheet markets          |
| $100M to $1B TVL  | $9.72B  | 34     | 3.47%        | 3.07%       | 0.40%         | Institutional-scale vaults below $1B |
| $25M to $100M TVL | $3.19B  | 67     | 4.25%        | 3.98%       | 0.27%         | Mid-sized observed vaults            |
| $5M to $25M TVL   | $1.04B  | 86     | 4.78%        | 4.34%       | 0.44%         | Smaller observed vaults              |

![Stablecoin yield by vault size](https://storage.ghost.io/c/80/1e/801e59ba-aea3-41d2-aff6-47dda0ee853e/content/images/2026/08/stablecoin_yield_by_size.png)

## USD Stablecoin Dispersion By Asset

![Stablecoin APY dispersion by asset](https://storage.ghost.io/c/80/1e/801e59ba-aea3-41d2-aff6-47dda0ee853e/content/images/2026/08/stablecoin_apy_by_asset.png)

## Highest USD Yields

Highest 30d trailing total APY vaults, minimum $5.0M TVL:

| Vault                                                                                                                                             | Asset | Protocol | Network | Curator              | TVL    | 30d total | 30d base | 30d reward |
| ------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | -------- | ------- | -------------------- | ------ | --------- | -------- | ---------- |
| [Morini StockMarketTRBasisTrade Vault](https://app.vaults.fyi/opportunity/mainnet/0x827Ce7E8e35861D9Ac7fE002755767b695A5594a?ref=blog.vaults.fyi) | USDC  | Midas    | mainnet | Morini Capital       | $5.4M  | 14.90%    | 14.90%   | \--        |
| [Ember Pharos Alpha](https://app.vaults.fyi/opportunity/mainnet/0xC3AaCb558aFB635307B66FDb405188138576fc4c?ref=blog.vaults.fyi)                   | USDC  | Ember    | mainnet | R25                  | $7.2M  | 11.60%    | 11.60%   | \--        |
| [Midas Fasanara Global](https://app.vaults.fyi/opportunity/mainnet/0x7433806912Eae67919e66aea853d46Fa0aef98A8?ref=blog.vaults.fyi)                | USDC  | Midas    | mainnet | Fasanara Capital     | $56.3M | 11.57%    | 11.57%   | \--        |
| [Steakhouse Ethena USDtb](https://app.vaults.fyi/opportunity/mainnet/0xBeEFC1CDAfc5b4a649b54D07AFc6bF0f75C6F4E2?ref=blog.vaults.fyi)              | USDtb | Morpho   | mainnet | Steakhouse Financial | $18.8M | 11.13%    | 4.27%    | 6.86%      |
| [Midas Hyperithm](https://app.vaults.fyi/opportunity/mainnet/0x9b5528528656DBC094765E2abB79F293c21191B9?ref=blog.vaults.fyi)                      | USDC  | Midas    | mainnet | Hyperithm            | $37.4M | 10.48%    | 10.48%   | \--        |
| [Tulipa USDC](https://app.vaults.fyi/opportunity/mainnet/0xcE0b790ae0d8cF91e01f3FB69025e14569b574f3?ref=blog.vaults.fyi)                          | USDC  | Lagoon   | mainnet | Tulipa               | $9.1M  | 10.36%    | 10.36%   | \--        |
| [Midas Fasanara ONE](https://app.vaults.fyi/opportunity/mainnet/0x238a700eD6165261Cf8b2e544ba797BC11e466Ba?ref=blog.vaults.fyi)                   | USDC  | Midas    | mainnet | Fasanara Capital     | $71.6M | 9.59%     | 9.59%    | \--        |
| [Midas Apollo Crypto](https://app.vaults.fyi/opportunity/mainnet/0x7CF9DEC92ca9FD46f8d86e7798B72624Bc116C05?ref=blog.vaults.fyi)                  | USDC  | Midas    | mainnet | Apollo Crypto        | $8.0M  | 9.59%     | 9.59%    | \--        |

Vault leader universe: observed USD vaults with at least $5.0M TVL, reputation score of 40 or higher, 7d avg total APY of at least 0.25%, and no active warnings. Anomalous high APY observations are excluded.

Highest 30d trailing reward APY vaults:

| Vault                                                                                                                                                     | Asset     | Protocol | Network    | Curator              | TVL     | 30d total | 30d base | 30d reward |
| --------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | -------- | ---------- | -------------------- | ------- | --------- | -------- | ---------- |
| [Steakhouse Ethena USDtb](https://app.vaults.fyi/opportunity/mainnet/0xBeEFC1CDAfc5b4a649b54D07AFc6bF0f75C6F4E2?ref=blog.vaults.fyi)                      | USDtb     | Morpho   | mainnet    | Steakhouse Financial | $18.8M  | 11.13%    | 4.27%    | 6.86%      |
| [Re7 USDC](https://app.vaults.fyi/opportunity/worldchain/0xb1E80387EbE53Ff75a89736097D34dC8D9E9045B?ref=blog.vaults.fyi)                                  | USDC      | Morpho   | worldchain | Re7 Capital          | $8.8M   | 5.80%     | 0.98%    | 4.82%      |
| [Umbrella Stake Wrapped Aave Ethereum USDT v1](https://app.vaults.fyi/opportunity/mainnet/0xA484Ab92fe32B143AEE7019fC1502b1dAA522D31?ref=blog.vaults.fyi) | waEthUSDT | Aave     | mainnet    | none                 | $75.6M  | 3.63%     | \--      | 3.63%      |
| [Fluid Gho Token](https://app.vaults.fyi/opportunity/plasma/0x96D7478219bFCc9B5d25F08ccb983815ee9D05e2?ref=blog.vaults.fyi)                               | GHO       | Fluid    | plasma     | none                 | $8.7M   | 7.94%     | 4.33%    | 3.61%      |
| [Sky USDS Farm](https://app.vaults.fyi/opportunity/mainnet/0x173e314C7635B45322cd8Cb14f44b312e079F3af?ref=blog.vaults.fyi)                                | USDS      | Sky      | mainnet    | none                 | $543.3M | 3.49%     | \--      | 3.49%      |

#### Methodology

Source: vaults.fyi API, /v2/networks, /v2/detailed-vaults, /v2/historical, and /v2/historical-benchmarks, pulled on 2026-08-03\. The observed USD universe includes 192 vaults and $26.34B in current TVL after applying the filters below.

Observed USD universe: apxUSD, AUSD, bbqUSDC, BOLD, crvUSD, cUSD, DAI, DAI.e, deUSD, DOLA, eUSD, FDUSD, FRAX, frxUSD, GHO, GUSD, iUSD, LUSD, msUSD, PYUSD, reUSD, RLUSD, rUSD, savUSD, sBOLD, sDAI, sUSDai, USDe, sUSDe, sUSDS, TUSD, U, USD₮, USD₮0, USD0, USD0++, USD1, USDai, USDbC, USDC, USDC.e, USDG, USDH, USDHL, USDL, USDM, USDm, USDP, USYC, USDY, USDa, USDB, USDD, USDX, USDS, USDT, USDt, USDT0, USDtb, USR, vbUSDC, vbUSDT, waEthUSDC, waEthUSDT, WXDAI vaults with at least $5.0M TVL, reputation score of 40 or higher, 7d avg total APY of at least 0.25%, and no active warnings. Anomalous high APY observations are excluded. Yield map, yield-by-size, dispersion, and vault-level tables use this universe.

Flow analysis uses observed USD vaults with 30d historical TVL available.

Benchmarks are mainnet 7d avg benchmark APY series.