Sourcesoter · settlement-reports · distribution rewards
Prime breakdown: Grove
Grove · $67.0M Sky revenue over Jan–Sep 2026
Month
Prime side
- Demand-side revenue
- $6 276
- Agent rate
- $6 276
- Distribution rewards (settled)
- $0
- + Supply-side revenue
- $-48 158
Prime agent profit$-41 883
Sky side
- Prime cost of funds
- $3 318 298
- Sky direct exposure
- $2 954 412
Sky revenue$6 272 710
Prime & Sky revenue
Stacked per settlement month. A negative prime revenue is drawn below the axis. Select a bar to change the month above.
Sky revenuePrime revenue
Per-venue breakdown
Jan 2026 · 11 venues · negative inflow is an outflow
| Venue | Deployment | NAV · eom | Inflow | Revenue |
|---|---|---|---|---|
| E20 | Janus Henderson Anemoy AAA CLO (JAAA-avalanche) | $256.1M | — | $1.04M |
| E8 | Janus Henderson Anemoy AAA CLO (JAAA) | $454.2M | -$300.1M | $933K |
| E7 | Securitize Tokenized AAA CLO Fund (STAC) | $100.6M | — | $616K |
| E3 | Aave Ethereum RLUSD (aToken) | $252.8M | +$10.6M | $235K |
| E21 | Galaxy Arch CLO Token (GACLO-1) | $49.9M | — | $209K |
| E1 | Aave Horizon RWA RLUSD (aToken) | $101.3M | +$51.0M | $106K |
| E22 | Anemoy Tokenized Apollo Diversified Credit Fund (ACRDX) | $51.0M | — | $69.2K |
| E2 | Aave Horizon RWA USDC (aToken) | $11.6M | +$1.50M | $44.0K |
| E5 | Grove x Steakhouse USDC High Yield (Morpho 4626) | $1.01M | +$1000K | $10.0K |
| E30 | Uniswap V3 AUSD/USDC pool (NFT positions — alt holder) | $25.0M | +$3.6K | $1.4K |
| E19 | Grove x Steakhouse USDC High Yield (Base, Morpho 4626) | $1.00M | +$1.00M | $1.3K |
Total NAV · $1 304 543 681 · inflows $-235 070 675Total revenue · $3 270 140
Rates & subsidy
- SR (subsidized rate)
- 3.66%
- TR (target rate: tbill_3m)
- 3.66%
- BR (base rate)
- 4.31%
- ER (effective rate)
- 3.71%
- ER − BR
- -60.0 bps
- Time-weighted utilized
- $1.07B
- Subsidy benefit to prime
- $526K
Formulas
Subsidized rate (24-month ramp)
SR = TR + ((BR − TR) × T / 24)Cost of funds — subsidy only applies to the first $1B utilized
CoF = SR × min(U, $1B) + BR × max(U − $1B, 0)Effective rate
ER = CoF / UU = time-weighted utilized debt · T = months since program start
Sky-Direct exposures
| Venue | Label | Kind | Actual rev | To Sky | Active |
|---|---|---|---|---|---|
| E10 | BUIDL on Eth | fixed | $521 116 | $521 116 | Yes |
| E9 | JTRSY on Eth | fixed | $1 003 426 | $1 003 426 | Yes |
| E8 | JAAA on Eth (≤ $325M) | capped | $2 363 169 | $1 429 870 | Yes |
Excluded holdings
| Venue | Label | AUM · som | AUM · eom |
|---|---|---|---|
| E14 | AUSD raw (ALM idle) | $0 | $0 |
| E25 | Grove x Steakhouse High Yield AUSD (Monad, Morpho 4626) | $0 | $0 |
| E33 | Uniswap V3 AUSD/USDC pool (Monad, NFT positions) | $0 | $0 |
| E34 | AUSD raw (Monad, alt holder idle) | $0 | $0 |
| E35 | USDC raw (Monad, alt holder idle) | $0 | $0 |
| E36 | OOB principal via 0xd94f (relay to Monad ALM EOA → AUSD acquisition) | $0 | $0 |
The ledger shows calculated distribution rewards. Prime-side figures use the published settlement report.
No calculated DR data is available for this month.
Calculated distribution rewards by ref code
Jan 2026 · 0 of 0 ref codes · select a row for its token composition
| Ref code | Group | Jan | Total | Tokens | Note |
|---|---|---|---|---|---|
| No distribution rewards recorded for this prime and month. | |||||
Net · filtered$0 · 0 codes