Sourcesoter · settlement-reports · distribution rewards
Prime breakdown: Grove
Grove · $67.0M Sky revenue over Jan–Sep 2026
Month
Prime side
- Demand-side revenue
- $137 731
- Agent rate
- $66 625
- Distribution rewards (settled)
- $55 456
- Chronicle points
- $15 650
- + Supply-side revenue
- $-270 948
Prime agent profit$-133 217
Sky side
- Prime cost of funds
- $3 291 458
- Sky direct exposure
- $4 709 026
Sky revenue$8 000 484
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
Jun 2026 · 13 venues · negative inflow is an outflow
| Venue | Deployment | NAV · eom | Inflow | Revenue |
|---|---|---|---|---|
| E20 | Janus Henderson Anemoy AAA CLO (JAAA-avalanche) | $259.8M | — | $773K |
| E23 | Steakhouse Prime Instant (Base, Morpho V2) | $173.6M | +$70.0M | $514K |
| E37 | Maple syrupUSDC (ERC-4626) | $100.7M | — | $396K |
| E8 | Janus Henderson Anemoy AAA CLO (JAAA) | $129.7M | — | $386K |
| E21 | Galaxy Arch CLO Token (GACLO-1) | $27.6M | — | $372K |
| E1 | Aave Horizon RWA RLUSD (aToken) | $171.7M | -$80.0M | $288K |
| E7 | Securitize Tokenized AAA CLO Fund (STAC) | $102.1M | — | $99.8K |
| E22 | Anemoy Tokenized Apollo Diversified Credit Fund (ACRDX) | $32.8M | — | $77.2K |
| E6 | Grove x Steakhouse AUSD (Morpho 4626) | $25.1M | — | $70.1K |
| E4 | Grove x Steakhouse USDC (Morpho 4626) | $1.00M | -$8.04M | $18.6K |
| E12 | Uniswap V3 AUSD/USDC pool (NFT positions) | $25.0M | — | $12.7K |
| E19 | Grove x Steakhouse USDC High Yield (Base, Morpho 4626) | $6.03M | +$5.00M | $12.1K |
| E11 | Curve AUSD/USDC stableswap LP | $25.0M | — | $334 |
Total NAV · $1 080 256 933 · inflows $-13 047 548Total revenue · $3 020 509
Rates & subsidy
- SR (subsidized rate)
- 3.83%
- TR (target rate: tbill_3m→sofr@2026-07-23)
- 3.81%
- BR (base rate)
- 3.91%
- ER (effective rate)
- 3.84%
- ER − BR
- -7.5 bps
- Time-weighted utilized
- $1.06B
- Subsidy benefit to prime
- $63.2K
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 | $2 177 794 | $2 177 794 | Yes |
| E9 | JTRSY on Eth | fixed | $2 531 232 | $2 531 232 | Yes |
| E8 | JAAA on Eth (≤ $325M) | capped | $385 938 | $0 | No |
Excluded holdings
| Venue | Label | AUM · som | AUM · eom |
|---|---|---|---|
| E14 | AUSD raw (ALM idle) | $3.40M | $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) | $208K | $208K |
| E36 | OOB principal via 0xd94f (relay to Monad ALM EOA → AUSD acquisition) | $50.0M | $50.0M |
The ledger shows calculated distribution rewards. Prime-side figures use the published settlement report.
Calculated distribution rewards by ref code
Jun 2026 · 2 of 2 ref codes · select a row for its token composition
| Ref code | Group | Jun | Total | Tokens | Note |
|---|---|---|---|---|---|
| Grove | $33 511 | $33 511 | sUSDS | ||
| Grove | $21 945 | $21 945 | sUSDS |
Net · filtered$55 456 · 2 codes